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- Commerzbank (based on The Economic Times)
Pair's Outlook
Pair has dipped below the support of the accelerated uptrend and at the moment is being supported by the 23.6% Fibo (September rise)/August peak. It indicates that the appreciation potential is rather limited from here—It might rise to monthly R2, but very unlikely any higher. Close below the 1.345 could send the pair to 20 and 55-day SMAs in 1.33 area.
Traders' Sentiment
Market sentiment changed marginally—66% of market participants are short on the pair, that is 1% less than yesterday. Significant change can be seen in distribution of pending orders. Bullish side decreased by 6% and overall gauge is at 51% today.
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