Forexrobots24

forex advisor developer

NZD/USD IG Client Sentiment: Our data shows traders are now net-long NZD/USD for the first time since May 19, 2020 when NZD/USD traded near 0.61.

NZD/USD Client Positioning

Number of traders net-short has decreased by 45.51% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

NZD/USD

BEARISH

50.26%

49.74%

42.72% Daily

28.95% Weekly

-17.09% Daily

-45.51% Weekly

5.03% Daily

-23.23% Weekly

NZD/USD: Retail trader data shows 50.26% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since May 19 when NZD/USD traded near 0.61, price has moved 2.66% higher since then. The number of traders net-long is 42.72% higher than yesterday and 28.95% higher from last week, while the number of traders net-short is 17.09% lower than yesterday and 45.51% 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 May 19, 2020 when NZD/USD traded near 0.61. 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.