AUD/USD IG Client Sentiment: Our data shows traders are now at their most net-long
Number of traders net-short has decreased by 19.46% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
71.34% |
28.66% |
1.67%
6.32% |
-6.10%
-19.46% |
-0.69%
-2.61% |
AUD/USD: Retail trader data shows 71.34% of traders are net-long with the ratio of traders long to short at 2.49 to 1. Our data shows traders are now at their most net-long AUD/USD since Aug 23 when AUD/USD traded near 0.72. The number of traders net-long is 1.67% higher than yesterday and 6.32% higher from last week, while the number of traders net-short is 6.10% lower than yesterday and 19.46% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUD/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 AUD/USD-bearish contrarian trading bias.
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