Forexrobots24

forex advisor developer

USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Apr 26, 2022 15:00 GMT when USD/CAD traded near 1.28.

USD/CAD Client Positioning

Number of traders net-short has decreased by 17.12% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


USD/CAD

BEARISH

50.00%

50.00%

7.29%
Daily

6.36%
Weekly

-25.51%
Daily

-17.12%
Weekly

-12.07%
Daily

-6.84%
Weekly

USD/CAD: Retail trader data shows 50.00% 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 Apr 26 when USD/CAD traded near 1.28, price has moved 0.57% lower since then. The number of traders net-long is 7.29% higher than yesterday and 6.36% higher from last week, while the number of traders net-short is 25.51% lower than yesterday and 17.12% 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 Apr 26, 2022 15:00 GMT when USD/CAD traded near 1.28. 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.

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