Number of traders net-short has increased by 43.24% 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 20.42% of traders are net-long with the ratio of traders short to long at 3.90 to 1. Our data shows traders are now at their least net-long USD/CAD since Mar 12 when USD/CAD traded near 1.38. The number of traders net-long is 17.52% lower than yesterday and 30.32% lower from last week, while the number of traders net-short is 4.88% higher than yesterday and 43.24% 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.