USD/CAD: Continues to Signal Further USD/CAD Losses

[B]USD/CAD Ratio: 1.68
Signal: Bearish[/B]

[B]Currency Last Week %Long %Change in Positions Outstanding[/B]
[B]USD/CAD 1.93 63% 10.64%[/B]
[B]USDCAD [/B]– The ratio of long to short positions in the USDCAD stands at 1.88 as nearly 65% of traders are long. Yesterday, the ratio was at 2.03 as 67% of open positions were long. In detail, long positions are 4.8% lower than yesterday and 5.0% weaker since last week. Short positions are 2.7% higher than yesterday and 0.1% weaker since last week. Open interest is 2.3% weaker than yesterday and 9.2% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.
[B]Wrtitten By David Rodriguez, Currency Analyst for[/B]