Number of traders net-short has increased by 5.40% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
USD/CAD: Retail trader data shows 31.29% of traders are net-long with the ratio of traders short to long at 2.20 to 1. Our data shows traders are now at their least net-long USD/CAD since Jun 21 when USD/CAD traded near 1.29. The number of traders net-long is 13.67% lower than yesterday and 15.79% lower from last week, while the number of traders net-short is 43.21% higher than yesterday and 5.40% 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.
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.