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- Goldman Sachs (based on Business Standard)
Pair's Outlook
Pair started the week in a clam fashion, but is giving clearer bearish directional signal and has dipped below the weekly PP. Although technical indicators give bullish outlooks we should pay attention tot eh fact that quite a few individual indicators give neutral outlook. All in all, it seems that the pair should continue trailing lower until it touches 20-day SMA.
Traders' Sentiment
Market sentiment remains largely unchanged with bears having tight grip on the market. They account for 64% (+1% since yesterday) of market participants; 57% (+2% since yesterday) of pending orders are in their favour as well.
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