Forexrobots24

forex advisor developer

USD/CAD IG Client Sentiment: Our data shows traders are now net-short USD/CAD for the first time since Jun 26, 2020 when USD/CAD traded near 1.37.

USD/CAD Client Positioning

Number of traders net-short has increased by 10.26% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

USD/CAD

BULLISH

49.73%

50.27%

-18.83% Daily

-15.37% Weekly

23.86% Daily

10.26% Weekly

-1.82% Daily

-4.17% Weekly

USD/CAD: Retail trader data shows 49.73% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Jun 26 when USD/CAD traded near 1.37, price has moved 0.57% lower since then. The number of traders net-long is 18.83% lower than yesterday and 15.37% lower from last week, while the number of traders net-short is 23.86% higher than yesterday and 10.26% higher from last week.

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

Our data shows traders are now net-short USD/CAD for the first time since Jun 26, 2020 when USD/CAD traded near 1.37. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.