FOREX ANALYSIS: Canadian Dollar Trading Outlook Bullish

ssi_usd-cad_body_Picture_12.png, FOREX ANALYSIS: Canadian Dollar Trading Outlook Bullish

USDCAD Retail forex trading crowds have remained steadily net-long the US Dollar (ticker: USDOLLAR) versus the Canadian Dollar since it crossed below the C$0.9900 in October, and consistent sentiment leaves us in favor of USDCAD declines.

We have seen a modest pullback in USD longs—down 18 percent since last week. Yet we will need to see a more substantive shift before we turn in favor of US Dollar strength.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.165+0.001+0.61%
    N21.SI
    0.158-0.004-2.47%
    40E.SI
    0.995-0.030-2.93%
    G13.SI
    0.375+0.010+2.74%
    5ME.SI
    0.194+0.010+5.43%
    SK3.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.38+0.09+33.33%
    BEH.SI
    0.16+0.02+14.29%
    40N.SI
    0.25+0.03+13.64%
    5UA.SI
    0.205+0.019+10.22%
    BHO.SI
    0.435+0.040+10.13%
    B58.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.265-0.095-26.39%
    BCD.SI
    0.17-0.05-24.44%
    42S.SI
    0.10-0.02-18.03%
    42U.SI
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    UQ7.SI
    0.098-0.012-10.91%
    L02.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4224+0.0056+0.40%
    USDSGD=X
    1.5136-0.0102-0.67%
    EURSGD=X
    1.7931+0.0054+0.30%
    GBPSGD=X
    80.1410-0.048-0.06%
    SGDJPY=X
    5.4506-0.0222-0.41%
    SGDHKD=X
    3.1078-0.0213-0.68%
    SGDMYR=X
    9,372.3604-67.6797-0.72%
    SGDIDR=X
    4.8333-0.0194-0.40%
    SGDCNY=X
    1.0612+0.0007+0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,171.70-3.30-0.28%
    GCZ16.CMX
    17.11-0.09-0.54%
    SIZ16.CMX
    82.57
    ^XAU
    2.66+0.02+0.87%
    HGZ16.CMX
    50.28+0.51+1.02%
    CLF17.NYM
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    ^FVX
    2.39
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