Number of traders net-short has increased by 90.98% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BULLISH | 47.29% | 52.71% | -8.33% 7.73% | 46.54% 90.98% | 14.21% 39.87% |
NZD/USD: Retail trader data shows 47.29% of traders are net-long with the ratio of traders short to long at 1.11 to 1. In fact, traders have remained net-short since Mar 23 when NZD/USD traded near 0.57, price has moved 3.56% higher since then. The number of traders net-long is 8.33% lower than yesterday and 7.73% higher from last week, while the number of traders net-short is 46.54% higher than yesterday and 90.98% 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 Mar 23, 2020 11:00 GMT when NZD/USD traded near 0.57. 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.
