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.

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

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

Data provided by
More View more
New Zealand Dollar Forecast to Rally Further

New Zealand Dollar Forecast to Rally Further

2015-04-16 20:40:00
David Rodriguez, Head of Product
Share:
New Zealand Dollar Forecast to Rally Further

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 -1.91 as 34% of traders are long. Yesterday the ratio was -1.53; 40% of open positions were long. Long positions are 9.8% lower than yesterday and 23.7% below levels seen last week. Short positions are 13.0% higher than yesterday and 74.4% above levels seen last week. Open interest is 4.0% higher than yesterday and 14.7% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the NZDUSD may continue higher. The trading crowd has grown further net-short from yesterday but unchanged since last week. The combination of current sentiment and recent changes gives a further bullish trading bias.

See next currency section: GBPJPY - British Pound Targets Fresh Lows 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

News & Analysis at your fingertips.