Number of traders net-short has decreased by 20.61% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 50.27% 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 Sep 30 when NZD/USD traded near 0.66, price has moved 5.71% higher since then. The number of traders net-long is 43.41% higher than yesterday and 41.76% higher from last week, while the number of traders net-short is 7.81% lower than yesterday and 20.61% 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 Sep 30, 2020 when NZD/USD traded near 0.66. 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.