Number of traders net-short has increased by 7.77% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| NZD/USD | BULLISH | 49.55% | 50.45% |
-9.92% Daily -45.36% Weekly |
3.74% Daily 7.77% Weekly |
-3.51% Daily -27.27% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -14% | 5% | -5% |
| Weekly | -40% | 6% | -22% |
NZD/USD: Retail trader data shows 49.55% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Feb 27 when NZD/USD traded near 0.62, price has moved 0.53% higher since then. The number of traders net-long is 9.92% lower than yesterday and 45.36% lower from last week, while the number of traders net-short is 3.74% higher than yesterday and 7.77% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests NZD/USD prices may continue to rise.
Our data shows traders are now net-short NZD/USD for the first time since Feb 27, 2024 18:00 GMT when NZD/USD traded near 0.62. 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.