Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Sentiment Remains Extremely One-Sided – and Wrong – in USD/CAD

Sentiment Remains Extremely One-Sided – and Wrong – in USD/CAD

David Rodriguez, Head of Product


Why and how do we use the SSI in trading? View our video and download the free indicator here.

USDCAD - The ratio of long to short positions in the USDCAD stands at -3.16 as 24% of traders are long. Yesterday the ratio was -3.29; 23% of open positions were long. Long positions are 1.2% lower than yesterday and 4.9% above levels seen last week. Short positions are 5.1% lower than yesterday and 5.0% below levels seen last week. Open interest is 4.2% lower than yesterday and 10.8% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the USDCAD may continue higher. The trading crowd has grown less net-short from yesterday and last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

See next currency section: AUD/USD - Recent Flip in Sentiment Provides Little Clarity for the Australian Dollar

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.