U.S. markets closed
  • S&P 500

    3,678.43
    +92.81 (+2.59%)
     
  • Dow 30

    29,490.89
    +765.38 (+2.66%)
     
  • Nasdaq

    10,815.43
    +239.82 (+2.27%)
     
  • Russell 2000

    1,708.87
    +44.15 (+2.65%)
     
  • Crude Oil

    83.27
    +3.78 (+4.76%)
     
  • Gold

    1,707.50
    +35.50 (+2.12%)
     
  • Silver

    20.75
    +1.71 (+8.96%)
     
  • EUR/USD

    0.9826
    +0.0025 (+0.26%)
     
  • 10-Yr Bond

    3.6510
    -0.1530 (-4.02%)
     
  • GBP/USD

    1.1321
    +0.0155 (+1.39%)
     
  • USD/JPY

    144.6240
    -0.1050 (-0.07%)
     
  • BTC-USD

    19,558.56
    +309.99 (+1.61%)
     
  • CMC Crypto 200

    444.05
    +8.70 (+2.00%)
     
  • FTSE 100

    6,908.76
    +14.95 (+0.22%)
     
  • Nikkei 225

    26,215.79
    +278.58 (+1.07%)
     

Australian Dollar Outlook Points to Gains

DailyFX.com -

Australian Dollar Outlook Points to Gains
Australian Dollar Outlook Points to Gains

Why and how do we use IG Client Sentiment in trading? See our guide.

AUDUSD: Retail trader data shows 29.8% of traders are net-long with the ratio of traders short to long at 2.36 to 1. In fact, traders have remained net-short since Jan 09 when AUDUSD traded near 0.72343; price has moved 6.4% higher since then. The number of traders net-long is 20.4% higher than yesterday and 27.9% lower from last week, while the number of traders net-short is 8.8% lower than yesterday and 23.1% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUDUSD prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed AUDUSD trading bias.


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from IG.