NZD/USD IG Client Sentiment: Our data shows traders are now at their most net-long
Number of traders net-short has decreased by 35.58% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
67.74% |
32.26% |
2.08%
45.07% |
-23.64%
-35.58% |
-7.92%
3.33% |
NZD/USD: Retail trader data shows 67.74% of traders are net-long with the ratio of traders long to short at 2.10 to 1. Our data shows traders are now at their most net-long NZD/USD since Aug 23 when NZD/USD traded near 0.69. The number of traders net-long is 2.08% higher than yesterday and 45.07% higher from last week, while the number of traders net-short is 23.64% lower than yesterday and 35.58% 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.
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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