Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
New Zealand Dollar Forecast Firmly in Favor of Depreciation

New Zealand Dollar Forecast Firmly in Favor of Depreciation

David Rodriguez, Head of Product

Share:

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at 2.75 as 73% of traders are long. Yesterday the ratio was 3.10; 76% of open positions were long. Long positions are 5.4% lower than yesterday and 8.3% above levels seen last week. Short positions are 6.9% higher than yesterday and 17.0% above levels seen last week.We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the NZDUSD may continue lower. The trading crowd has grown less net-long from yesterday and last week. Yet the heavily one-sided standing position leaves our bearish trading bias intact.

See next currency section: GBPJPY - British Pound Expected to Continue Higher versus Yen

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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

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

DISCLOSURES