Forexrobots24

forex advisor developer

NZD/USD IG Client Sentiment: 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.

NZD/USD Client Positioning

Number of traders net-short has decreased by 6.44% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

NZD/USD

BEARISH

51.66%

48.34%

16.60% Daily

32.88% Weekly

-1.08% Daily

-6.44% Weekly

7.33% Daily

10.44% Weekly

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.