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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.10%, while traders in France 40 are at opposite extremes with 80.76%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dlo1iyakWu
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  • Gold prices have slipped lower in recent days. However, this seems to be only a temporary set-back as the long-term technical outlook continues to hint at further gains ahead. Get your $XAUUSD market update from @DanielGMoss here:https://t.co/6Zuyx9UapR https://t.co/7agjeo8Q9m
New Zealand Dollar Forecast Remains Cautiously Bearish

New Zealand Dollar Forecast Remains Cautiously Bearish

David Rodriguez, Head of Product
New Zealand Dollar Forecast Remains Cautiously Bearish

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See a video on why we use the Speculative Sentiment Index as a contrarian indicator in our trading

NZDUSD – Our retail forex data shows that the majority of traders remain long the New Zealand Dollar versus its US namesake, and a contrarian view of crowd sentiment leaves us firmly in favor of selling into NZD/USD declines.

It is perhaps worth noting that positioning has moderated since last week; total open short positions have risen 5 percent while long positions have fallen a sizeable 21 percent. Yet we would have to see a much more meaningful shift and a flip to net-short to call for a worthwhile NZD reversal.

See next currency section: XAUUSD - Gold Prices Show Signs of Life

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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