Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.
USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Jul 18, 2024 when USD/CAD traded near 1.37.Retail trader data shows 50.26% of traders are net-long with the ratio of traders long to short at 1.01 to 1.traded near 1.37, price has moved 0.30% lower since then. The number of traders net-long is 1.81% higher than yesterday and 19.82% higher from last week, while the number of traders net-short is 1.02% lower than yesterday and 17.
Our data shows traders are now net-long USD/CAD for the first time since Jul 18, 2024 when USD/CAD traded near 1.37. EUR/GBP IG Client Sentiment: Our data shows traders are now net-long EUR/GBP for the first time since Aug 05, 2024 when EUR/GBP traded near 0.86.Gold IG Client Sentiment: Our data shows traders are now net-short Gold for the first time since Jul 19, 2024 when Gold traded near 2,400.62.
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