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EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
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of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

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Australian Dollar Forecast Mixed, Next Move is Key

Australian Dollar Forecast Mixed, Next Move is Key

2017-08-07 17:20:00
David Rodriguez, Head of Product
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Australian Dollar Forecast Mixed, Next Move is Key

Why and how do we use IG Client Sentiment in trading? See our guide and real-time data.

AUDUSD: Retail trader data shows 32.2% of traders are net-long with the ratio of traders short to long at 2.11 to 1. In fact, traders have remained net-short since Jun 04 when AUDUSD traded near 0.74466; price has moved 6.1% higher since then. The number of traders net-long is 20.1% higher than yesterday and 1.0% lower from last week, while the number of traders net-short is 4.4% higher than yesterday and 2.7% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUDUSD prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed AUDUSD trading bias.

See next article in this week’s report: S&P 500 - Likely to Continue onto Fresh Record Highs

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