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[XPD/USD]
With the EMA (50) condition in a Golden Cross position above the EMA (200) and the RSI (14) in the Neutral-Bullish level area, it is clear that buyers are still dominant, allowing XPD/USD the opportunity to strengthen toward its nearest resistance level.
Key Levels:
1. Resistance. 2 : 1436.14
2. Resistance. 1 : 1419.68
3. Pivot : 1396.58
4. Support. 1 : 1380.12
5. Support. 2 : 1357.02
Tactical Scenario:
Positive Reaction Zone: If the price of Palladium vs USD rises and breaks above 1419.68, it has the potential to continue its strength up to 1436.14.
Momentum Extension Bias: If 1436.14 is exceeded, there is potential for XPD/USD to move toward 1459.24.
Invalidation Level / Bias Revision:
upside bias weakens if the price of Palladium vs USD declines and breaks down below 1357.02.
Technical Summary:
EMA(50) : 1400.23
EMA(200): 1390.48
RSI(14) : 54.03
Economic News Release Agenda:
Tonight from the United States, several economic data releases are scheduled as follows:
US - Core PPI m/m - 20:30 WIB
US - Core Retail Sales m/m - 20:30 WIB
US - PPI m/m - 20:30 WIB
US - Retail Sales m/m - 20:30 WIB
US - HPI m/m - 21:00 WIB
US - S&P/CS Composite-20 HPI y/y - 21:00 WIB
US - Pending Home Sales m/m - 22:00 WIB
US - Richmond Manufacturing Index - 22:00 WIB
US - Business Inventories m/m - 22:00 WIB
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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