Forexrobots24

forex advisor developer

USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Jan 22, 2020 when USD/CAD traded near 1.31.

USD/CAD Client Positioning

Number of traders net-short has decreased by 13.88% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

USD/CAD

BEARISH

50.06%

49.94%

92.27% Daily

156.36% Weekly

-6.01% Daily

-13.88% Weekly

26.31% Daily

29.01% Weekly

USD/CAD: Retail trader data shows 50.06% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Jan 22 when USD/CAD traded near 1.31, price has moved 7.83% higher since then. The number of traders net-long is 92.27% higher than yesterday and 156.36% higher from last week, while the number of traders net-short is 6.01% lower than yesterday and 13.88% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/CAD prices may continue to fall.

Our data shows traders are now net-long USD/CAD for the first time since Jan 22, 2020 when USD/CAD traded near 1.31. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.