Filed Under:
Forex pairs in this Article »
ssi_usd-cad_body_Picture_9.png, Canadian Dollar Outlook Points to Strength USDCAD - The ratio of long to short positions in the USDCAD stands at 1.92 as approximately 66% of traders are long. Yesterday the ratio was 1.70; 63% of open positions were long. In detail, long positions are 2.1% higher than yesterday and 6.4% below levels seen last week. Short positions are 9.6% lower than yesterday and 1.2% above levels seen last week. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the USDCAD may continue lower. Current SSI is higher than yesterday and lower from last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

--- To receive the SSI report and other research from this author, e-mail subject line "Distribution List" to drodriguez@dailyfx.com

Contact this author via Twitter:

http://www.twitter.com/DRodriguezFX

Facebook:

http://www.Facebook.com/DRodriguezFX

comments powered by Disqus