Our data shows traders are now net-long NZD/USD for the first time since Mar 03, 2022 when NZD/USD traded near 0.68.

Our data shows traders are now net-long NZD/USD for the first time since Mar 03, 2022 when NZD/USD traded near 0.68.

Number of traders net-short has decreased by 10.54% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

NZD/USD

BEARISH

50.17%

49.83%

6.03%
Daily

31.14%
Weekly

-1.33%
Daily

-10.54%
Weekly

2.23%
Daily

6.43%
Weekly

NZD/USD: Retail trader data shows 50.17% 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 Mar 03 when NZD/USD traded near 0.68, price has moved 0.14% lower since then. The number of traders net-long is 6.03% higher than yesterday and 31.14% higher from last week, while the number of traders net-short is 1.33% lower than yesterday and 10.54% 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 Mar 03, 2022 when NZD/USD traded near 0.68. 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/2022/03/16/NZDUSD-IG-Client-Sentiment-1223.html
By: Research

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