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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3566-0.0012-0.09%
    USDSGD=X
    1.5591-0.0005-0.03%
    EURSGD=X
    1.9682-0.0005-0.02%
    GBPSGD=X
    78.7907-0.0097-0.01%
    SGDJPY=X
    5.7215+0.0045+0.08%
    SGDHKD=X
    2.9670+0.0025+0.08%
    SGDMYR=X
    9,860.5420+8.1729+0.08%
    SGDIDR=X
    4.7874+0.0035+0.07%
    SGDCNY=X
    1.01270.000.00%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,283.70+9.30+0.73%
    GCM16.CMX
    17.44+0.14+0.80%
    SIN16.CMX
    83.27-3.96-4.54%
    ^XAU
    2.180.00-0.18%
    HGN16.CMX
    44.32+0.54+1.23%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.24-0.02
    ^FVX
    1.78-0.02
    ^TNX
    2.64-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.425-0.005-1.16%
    N21.SI
    0.785-0.020-2.48%
    G13.SI
    3.76-0.07-1.83%
    Z74.SI
    0.385-0.005-1.28%
    E5H.SI
    0.730.000.00%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.48+0.08+20.00%
    BFK.SI
    0.194+0.019+10.86%
    D79.SI
    0.28+0.03+9.80%
    BHO.SI
    0.185+0.015+8.82%
    AYL.SI
    0.50+0.04+8.70%
    BQP.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.088-0.082-48.24%
    P74.SI
    0.30-0.09-23.08%
    Y06.SI
    0.125-0.027-17.76%
    5MQ.SI
    0.21-0.05-17.65%
    Y35.SI
    0.31-0.04-11.43%
    AWK.SI