The number of net-short traders decreased by 16.63% compared to last week.
|SYMBOL||TRADE BIAS||NET-LONG %||NET-SHORT%||CHANGE OF LENGTHS||SHORTS CHANGE||IO CHANGE|
USD/CAD: Retail trader data shows that 52.01% of traders are net long with a ratio of long to short traders of 1.08 to 1. In fact, traders have been staying sharp since October 27, when USD/CAD was trading near 1.36, the price is down 0.45% since then. The number of net long traders is 37.36% higher than yesterday and 22.95% higher than last week, while the number of net short traders is 32.82% lower than yesterday. yesterday and 16.63% lower than last week.
We generally take a contrarian view of crowd sentiment, and the fact that traders are net buyers suggests that USD/CAD prices may continue lower.
Our data shows that traders are now net buyers of USD/CAD for the first time since October 27, 2022 at 18:00 GMT when USD/CAD was trading near 1.36. Traders are sharper than yesterday and last week, and the combination of current sentiment and recent shifts gives us a stronger contrarian USD/CAD-bearish trading bias.