Home Forex 00 GMT when NZD/USD traded near 0.57.

00 GMT when NZD/USD traded near 0.57.

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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


NZD/USD

BULLISH

47.29%

52.71%

-8.33%
Daily

7.73%
Weekly

46.54%
Daily

90.98%
Weekly

14.21%
Daily

39.87%
Weekly

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.



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