Number of traders net-short has increased by 15.74% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| NZD/USD | BULLISH | 37.61% | 62.39% |
-9.89% Daily -27.43% Weekly |
-1.09% Daily 15.74% Weekly |
-4.60% Daily -5.42% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -12% | -1% | -6% |
| Weekly | -21% | 17% | -1% |
NZD/USD: Retail trader data shows 37.61% of traders are net-long with the ratio of traders short to long at 1.66 to 1. Our data shows traders are now at their least net-long NZD/USD since Jul 14 when NZD/USD traded near 0.64. The number of traders net-long is 9.89% lower than yesterday and 27.43% lower from last week, while the number of traders net-short is 1.09% lower than yesterday and 15.74% 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.
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.
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