Number of traders net-short has decreased by 26.40% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
NZD/USD: Retail trader data shows 53.77% of traders are net-long with the ratio of traders long to short at 1.16 to 1. In fact, traders have remained net-long since Dec 21 when NZD/USD traded near 0.63, price has moved 0.97% lower since then. The number of traders net-long is 7.00% higher than yesterday and 8.08% higher from last week, while the number of traders net-short is 15.60% lower than yesterday and 26.40% 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 Dec 21, 2022 when NZD/USD traded near 0.63. 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.