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
    1.39680.000.00%
    USDSGD=X
    1.5780+0.0009+0.06%
    EURSGD=X
    2.02080.000.00%
    GBPSGD=X
    82.1023-0.3112-0.38%
    SGDJPY=X
    5.5808-0.0016-0.03%
    SGDHKD=X
    2.9911+0.004+0.13%
    SGDMYR=X
    9,689.6250-39.7695-0.41%
    SGDIDR=X
    4.7070+0.0629+1.35%
    SGDCNY=X
    0.9851-0.0031-0.31%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,191.50-7.10-0.59%
    GCJ16.CMX
    15.26-0.19-1.22%
    SIH16.CMX
    54.34-2.43-4.28%
    ^XAU
    2.03-0.01-0.39%
    HGH16.CMX
    28.48+0.54+1.93%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.150.00
    ^FVX
    1.73-0.01
    ^TNX
    2.55-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.32-0.01-3.03%
    N21.SI
    3.64-0.06-1.62%
    Z74.SI
    1.625-0.055-3.27%
    MC0.SI
    0.68-0.02-3.55%
    G13.SI
    2.93-0.06-2.01%
    C31.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.22+0.06+37.50%
    5WR.SI
    0.40+0.06+17.65%
    MN5.SI
    62.06+7.42+13.58%
    NF6.SI
    34.85+3.03+9.52%
    NF4.SI
    10.13+0.54+5.63%
    I19.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.425-0.085-16.67%
    RQ1.SI
    0.194-0.036-15.65%
    S9B.SI
    3.40-0.45-11.69%
    H1O.SI
    0.36-0.04-10.00%
    BJE.SI
    1.61-0.14-8.00%
    5SR.SI