Number of traders net-short has increased by 20.00% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
---|---|---|---|---|---|---|
NZD/USD | BULLISH | 41.85% | 58.15% | -17.75% Daily -34.71% Weekly | 28.78% Daily 20.00% Weekly | 4.13% Daily -11.15% Weekly |
Change in | Longs | Shorts | OI |
Daily | -1% | -4% | -2% |
Weekly | 51% | -45% | -6% |
NZD/USD: Retail trader data shows 41.85% of traders are net-long with the ratio of traders short to long at 1.39 to 1. Our data shows traders are now at their least net-long NZD/USD since Dec 27 when NZD/USD traded near 0.63. The number of traders net-long is 17.75% lower than yesterday and 34.71% lower from last week, while the number of traders net-short is 28.78% higher than yesterday and 20.00% 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.