Number of traders net-short has decreased by 6.44% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 51.66% of traders are net-long with the ratio of traders long to short at 1.07 to 1. In fact, traders have remained net-long since Apr 21 when NZD/USD traded near 0.60, price has moved 1.85% higher since then. The number of traders net-long is 16.60% higher than yesterday and 32.88% higher from last week, while the number of traders net-short is 1.08% lower than yesterday and 6.44% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests NZD/USD prices may continue to fall.
Our data shows traders are now net-long NZD/USD for the first time since Apr 21, 2020 02:00 GMT when NZD/USD traded near 0.60. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bearish contrarian trading bias.