Variety of merchants net-short has decreased by 50.10% from final week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BEARISH | 75.82% | 24.18% |
44.89% Each day 83.01% Weekly |
-11.91% Each day -50.10% Weekly |
25.34% Each day 11.25% Weekly |
USD/CAD: Retail dealer information reveals 75.82% of merchants are net-long with the ratio of merchants lengthy to brief at 3.14 to 1. Our information reveals merchants at the moment are at their most net-long USD/CAD since Jun 07 when USD/CAD traded close to 1.25. The variety of merchants net-long is 44.89% larger than yesterday and 83.01% larger from final week, whereas the variety of merchants net-short is 11.91% decrease than yesterday and 50.10% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests USD/CAD costs might proceed to fall.
Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments offers us a stronger USD/CAD-bearish contrarian buying and selling bias.
DailyFX supplies foreign exchange information and technical evaluation on the developments that affect the worldwide foreign money markets.
