Canadian Dollar Could Continue to Strengthen | ...

David Rodríguez, On Thursday January 27, 2011, 11:07 am EST

USDCAD – Continued USDCAD crowd buying gives contrarian signal that the pair could remain weak through short-term trade. the ratio of long to short positions in the USDCAD stands at 4.94 as nearly 83% of traders are long. Yesterday, the ratio was at 4.65 as 82% of open positions were long. In detail, long positions are 0.2% higher than yesterday and 3.1% stronger since last week. Short positions are 6.8% lower than yesterday and 30.6% weaker since last week. Open interest is 1.0% weaker than yesterday and 13.5% below its monthly average. the SSI is a contrarian Indicator and signals more USDCAD losses.

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Canadian Dollar Could Continue to Strengthen

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This entry was posted on January 30, 2011 at 5:00 pm and is filed under Forex Articles. You can follow any responses to this entry through the RSS 2.0 feed.