Our data shows traders are now net-short NZD/USD for the first time since Jul 19, 2023 when NZD/USD traded near 0.63.

NZD/USD Client Positioning

Number of traders net-short has increased by 29.83% from last week.

SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS CHANGE IN OI
NZD/USD BULLISH 48.80% 51.20%

-11.46% Daily

-11.81% Weekly

17.50% Daily

29.83% Weekly

1.32% Daily

5.52% Weekly




of clients are net long.




of clients are net short.

Change in Longs Shorts OI
Daily -11% 18% 1%
Weekly -10% 31% 7%

NZD/USD: Retail trader data shows 48.80% of traders are net-long with the ratio of traders short to long at 1.05 to 1. In fact, traders have remained net-short since Jul 19 when NZD/USD traded near 0.63, price has moved 1.09% lower since then. The number of traders net-long is 11.46% lower than yesterday and 11.81% lower from last week, while the number of traders net-short is 17.50% higher than yesterday and 29.83% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests NZD/USD prices may continue to rise.

Our data shows traders are now net-short NZD/USD for the first time since Jul 19, 2023 when NZD/USD traded near 0.63. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.



Source link

Comments are closed.