Canadian Dollar Outlook Calls for Gains
USDCAD – The ratio of long to short positions in the USDCAD stands at 2.13 as nearly 68% of traders are long. Yesterday, the ratio was at 1.69 as 63% of open positions were long. In detail, long positions are 7.1% higher than yesterday and 17.8% weaker since last week. Short positions are 14.7% lower than yesterday and 1.0% weaker since last week. Open interest is 1.0% weaker than yesterday and 4.9% above its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.