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- Barclays Plc. (based on Bloomberg)
Pair's Outlook
Pair continues depreciate and we do not expect weekly S1/monthly R1/20-day SMA to hold long. After that we should start looking in to uptrend support around 1.361. If the pair dips below it we should start looking at 1.35 as dip below it could provoke a further sell off. In case of an unexpected recovery the pair should advance above the October high in order to uplift most of this downside risk.
Traders' Sentiment
Market sentiment it self haven't changed a bit since yesterday when bullish side of pending orders increased from 37% to 50% when the week started at 60% gauge. Distribution of open positions remains at 63% being held by short traders.
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