NZD/USD IG Client Sentiment: Our data shows traders are now at their most net-long NZD/USD since Aug 13 when NZD/USD traded near 0.60.
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: 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.
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