Number of merchants net-short has elevated by 7.58% from final week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| NZD/USD | BULLISH | 49.88% | 50.12% |
-14.52% Daily -12.40% Weekly |
-1.39% Daily 7.58% Weekly |
-8.41% Daily -3.41% Weekly |
NZD/USD: Retail dealer information reveals 49.88% of merchants are net-long with the ratio of merchants quick to lengthy at 1.00 to 1. In reality, merchants have remained net-short since Jun 10 when NZD/USD traded close to 0.64, worth has moved 0.32% greater since then. The variety of merchants net-long is 14.52% decrease than yesterday and 12.40% decrease from final week, whereas the variety of merchants net-short is 1.39% decrease than yesterday and seven.58% greater from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests NZD/USD prices could proceed to rise.
Our information reveals merchants are actually net-short NZD/USD for the primary time since Jun 10, 2022 when NZD/USD traded close to 0.64. Traders are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger NZD/USD-bullish contrarian buying and selling bias.
