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Palladium vs USD
Although a Bearish Divergence is detected between XPD/USD price movement and RSI(14), but with both EMAs in a Golden Cross and RSI in the Neutral-Bullish area, indicates only a limited correction and still has the potential for further strengthening.
Key Levels
1. Resistance. 2 : 1979.31
2. Resistance. 1 : 1922.29
3. Pivot : 1808.48
4. Support. 1 : 1751.46
5. Support. 2 : 1637.65
Tactical Scenario
Positive Reaction Zone: If the price breaks out and closes above 1808.48, the price may move up toward 1922.29.
Momentum Extension Bias: If 1922.29 is also broken, XPD/USD could test 1979.31.
Invalidation Level / Bias Revision
The upside bias weakens if XPD/USD declines to breaks and closes below 1637.65.
Technical Summary
EMA(50) : 1809.06
EMA(200): 1746.01
RSI(14) : 51.31 + Bearish Divergent
Economic News Release Agenda:
Tonight from the United States, the following important economic data will be released:
US - ADP Non-Farm Employment Change -20:15 WIB
US - ISM Services PMI - 22:00 WIB
US - JOLTS Job Openings - 22:00 WIB
US - Factory Orders m/m - 22:00 WIB
US - Crude Oil Inventories - 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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