Our data shows traders are now at their most net-long NZD/USD since Nov 29 when NZD/USD traded near 0.68.

Our data shows traders are now at their most net-long NZD/USD since Nov 29 when NZD/USD traded near 0.68.

Number of traders net-short has decreased by 24.03% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

NZD/USD

BEARISH

73.89%

26.11%

11.83%
Daily

-0.79%
Weekly

5.99%
Daily

-24.03%
Weekly

10.24%
Daily

-8.13%
Weekly

NZD/USD: Retail trader data shows 73.89% of traders are net-long with the ratio of traders long to short at 2.83 to 1. Our data shows traders are now at their most net-long NZD/USD since Nov 29 when NZD/USD traded near 0.68. The number of traders net-long is 11.83% higher than yesterday and 0.79% lower from last week, while the number of traders net-short is 5.99% higher than yesterday and 24.03% 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.

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.

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Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/12/21/NZDUSD-IG-Client-Sentiment-0223.html
By: Research

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