Home Forex 00 GMT when NZD/USD traded near 0.72.

00 GMT when NZD/USD traded near 0.72.

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Number of traders net-short has decreased by 8.92% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


NZD/USD

BEARISH

51.24%

48.76%

12.27%
Daily

2.30%
Weekly

-13.70%
Daily

-8.92%
Weekly

-2.10%
Daily

-3.50%
Weekly

NZD/USD: Retail trader data shows 51.24% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Jun 04 when NZD/USD traded near 0.72, price has moved 1.17% lower since then. The number of traders net-long is 12.27% higher than yesterday and 2.30% higher from last week, while the number of traders net-short is 13.70% lower than yesterday and 8.92% 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.

Our data shows traders are now net-long NZD/USD for the first time since Jun 04, 2021 15:00 GMT when NZD/USD traded near 0.72. 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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