| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| NZD/USD | BULLISH | 49.31% | 50.69% |
-30.07%Daily -18.94%Weekly |
0.00%Daily -14.06%Weekly |
-17.49%Daily -16.54%Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -1% | 6% | 4% |
| Weekly | -27% | 24% | -3% |
NZD/USD: Retail trader data shows 49.31% of traders are net-long with the ratio of traders short to long at 1.03 to 1.In fact, traders have remained net-short since May 11 when NZD/USD traded near 0.63, price has moved 0.05% higher since then. The number of traders net-long is 30.07% lower than yesterday and 18.94% lower from last week, while the number of traders net-short is unchanged than yesterday and 14.06% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests NZD/USDprices may continue to rise.
Our data shows traders are now net-short NZD/USD for the first time since May 11, 2023 when NZD/USD traded near 0.63. 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.
Source https://www.dailyfx.com/analysis/NZDUSD-IG-Client-Sentiment-202307121723.html
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