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  • The Japanese Yen may fall against its major peers, but there is room for a near-term climb that wouldn’t necessarily overturn a bearish technical bias. USD/JPY is eyeing support. Get your market update from @ddubrovskyFX here:https://t.co/AEnQCXnwAL https://t.co/tuq7DDF3jE
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  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.93% 🇦🇺AUD: 0.72% 🇪🇺EUR: 0.55% 🇨🇦CAD: 0.50% 🇬🇧GBP: 0.32% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rzD7Gp4VIC
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.17% Gold: 0.92% Oil - US Crude: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TU8HEn8Gbk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.44%, while traders in France 40 are at opposite extremes with 73.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M5ItmLXuiw
  • The Australian Dollar plummeted more than 1.4% against the US Dollar since the start of the week with AUD/USD reversing off technical resistance at the yearly high-close. Get your $AUD market update from @MBForex here:https://t.co/72ORZ3wZwx https://t.co/zG3UzI6bRc
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New Zealand Dollar Forecast Points to Losses

New Zealand Dollar Forecast Points to Losses

David Rodriguez, Head of Product
New Zealand Dollar Forecast Points to Losses

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

NZDUSD – Retail FX traders remain steadily long the New Zealand Dollar versus its US namesake, and a contrarian view of crowd sentiment warns that the pair remains stuck in its broader downtrend.

As with the Australian Dollar, it remains possible that heavily one-sided crowd sentiment may point to an important price extreme and reversal. Yet those turnarounds are only clear in hindsight, and we can’t realistically advocate joining the crowd in getting long at these levels.

See next currency section: XAUUSD - Gold Price Outlook Suggests Further Declines Likely

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

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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