Number of traders net-short has decreased by 28.08% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| NZD/USD | BEARISH | 80.80% | 19.20% | 4.00% Daily -2.86% Weekly | -9.48% Daily -28.08% Weekly | 1.11% Daily -8.99% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 13% | -31% | -4% |
| Weekly | -10% | -27% | -15% |
NZD/USD: Retail trader data shows 80.80% of traders are net-long with the ratio of traders long to short at 4.21 to 1. Our data shows traders are now at their most net-long NZD/USD since Aug 13 when NZD/USD traded near 0.60. The number of traders net-long is 4.00% higher than yesterday and 2.86% lower from last week, while the number of traders net-short is 9.48% lower than yesterday and 28.08% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests NZD/USD prices may continue to fall.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bearish contrarian trading bias.
