© Dukascopy Bank SA
- IronFX Global Ltd. (based on The Economic Times)
Pair's Outlook
Pair has advanced above the September high and at the moment is aiming at October high. Despite the short term strength indicated by the technicals we do not expect the pair to advance above it. In order to uplift most of this pressure the pair might have to advance above weekly R2. In case of the failure the pair might dip to 20-day SMA.
Traders' Sentiment
Bullish pressure on the pair is decrease as that side pending orders decreased by additional 5% since yesterday (11% in the last few days). Market sentiment, however, remains exactly where it was yesterday—66% of traders are short on the pair.
© Dukascopy Bank SA