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.
How do we interpret and trade with the SSI? Watch an FXCM Expo Presentation that explains the SSI.
--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com
To receive the Speculative Sentiment Index and other reports from this author via e-mail, send a message with subject line “Distribution List” to cvecchio@dailyfx.com; Contact Chris via Twitter at http://www.twitter.com/CVecchioFX
Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.
