Canadian Dollar Forecast to Continue Rally against US Dollar
USDCAD - The ratio of long to short positions in the USDCAD stands at 2.22 as nearly 69% of traders are long. Yesterday, the ratio was at 1.88 as 65% of open positions were long. In detail, long positions are 4.8% higher than yesterday and 12.7% weaker since last week. Short positions are 11.5% lower than yesterday and 4.2% stronger since last week. Open interest is 0.9% weaker than yesterday and 7.1% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.
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--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com
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