Number of traders net-short has decreased by 18.16% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 50.54% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Oct 14 when NZD/USD traded near 0.70, price has moved 0.32% lower since then. The number of traders net-long is 26.25% higher than yesterday and 31.85% higher from last week, while the number of traders net-short is 15.12% lower than yesterday and 18.16% 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 Oct 14, 2021 when NZD/USD traded near 0.70. 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.