Number of traders net-short has decreased by 33.22% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
of clients are net long.
of clients are net short.
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 Apr 20 when USD/CAD traded near 1.35, price has moved 0.23% lower since then. The number of traders net-long is 1.26% higher than yesterday and 16.91% higher from last week, while the number of traders net-short is 22.18% lower than yesterday and 33.22% 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 20, 2023 when USD/CAD traded near 1.35. 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.