NZD/USD IG Client Sentiment: Our data shows traders are now net-long NZD/USD for the first time since Jun 04, 2021 15:00 GMT when NZD/USD traded near 0.72.
Number of traders net-short has decreased by 8.92% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 51.24% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Jun 04 when NZD/USD traded near 0.72, price has moved 1.17% lower since then. The number of traders net-long is 12.27% higher than yesterday and 2.30% higher from last week, while the number of traders net-short is 13.70% lower than yesterday and 8.92% 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.
Our data shows traders are now net-long NZD/USD for the first time since Jun 04, 2021 15:00 GMT when NZD/USD traded near 0.72. 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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