Number of traders net-short has decreased by 14.06% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| NZD/USD | BULLISH | 49.31% | 50.69% |
-30.07% Daily -18.94% Weekly |
0.00% Daily -14.06% Weekly |
-17.49% Daily -16.54% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -31% | 3% | -17% |
| Weekly | -21% | -12% | -16% |
NZD/USD: Retail trader data shows 49.31% of traders are net-long with the ratio of traders short to long at 1.03 to 1. In fact, traders have remained net-short since May 11 when NZD/USD traded near 0.63, price has moved 0.05% higher since then. The number of traders net-long is 30.07% lower than yesterday and 18.94% lower from last week, while the number of traders net-short is unchanged than yesterday and 14.06% lower 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 May 11, 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.
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