Variety of merchants net-short has decreased by 33.70% from final week. SYMBOL
Variety of merchants net-short has decreased by 33.70% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
NZD/USD |
BEARISH |
51.66% |
48.34% |
19.85%
72.49% |
-4.69%
-33.70% |
6.59%
-2.77% |
NZD/USD: Retail dealer information exhibits 51.66% of merchants are net-long with the ratio of merchants lengthy to quick at 1.07 to 1. In truth, merchants have remained net-long since Jun 03 when NZD/USD traded close to 0.64, value has moved 2.47% increased since then. The variety of merchants net-long is 19.85% increased than yesterday and 72.49% increased from final week, whereas the variety of merchants net-short is 4.69% decrease than yesterday and 33.70% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests NZD/USD costs might proceed to fall.
Our information exhibits merchants are actually net-long NZD/USD for the primary time since Jun 03, 2020 when NZD/USD traded close to 0.64. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications offers us a stronger NZD/USD-bearish contrarian buying and selling bias.