New Zealand Dollar Weekly Price Outlook: Kiwi 2019 Range Compression

NZD/USD TRADER SENTIMENT

NZD/USD Trader Sentiment

  • A summary of IG Client Sentiment shows traders are net-short NZD/USD - the ratio stands at -1.02 (49.5% of traders are long) – neutral reading
  • Long positions are6.3% lower than yesterday and 6.3% lower from last week
  • Short positions are 2.5% lower than yesterday and 7.5% 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. 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.
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