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Number of traders net-short has decreased by 1.72% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| NZD/USD | BEARISH | 50.26% | 49.74% |
9.47% Daily 7.43% Weekly |
4.76% Daily -1.72% Weekly |
7.08% Daily 2.68% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 9% | 5% | 7% |
| Weekly | 7% | -2% | 3% |
NZD/USD: Retail trader data shows 50.26% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Feb 19 when NZD/USD traded near 0.61, price has moved 0.52% higher since then. The number of traders net-long is 9.47% higher than yesterday and 7.43% higher from last week, while the number of traders net-short is 4.76% higher than yesterday and 1.72% 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 Feb 19, 2024 09:00 GMT when NZD/USD traded near 0.61. 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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