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[Palladium vs USD]
With the appearance of a Hidden Bullish Divergence on RSI(14), which is also in the Neutral-Bullish level, XPD/USD has the opportunity to strengthen toward its nearest resistance level, even though both EMAs have not yet formed a Golden Cross.
Key Levels
1. Resistance. 2 : 1812.63
2. Resistance. 1 : 1773.30
3. Pivot : 1717.00
4. Support. 1 : 1677.67
5. Support. 2 : 1621.37
Tactical Scenario
Positive Reaction Zone: If the price strengthens above 1773.30, the advance may continue toward 1812.63.
Momentum Extension Bias: If 1812.63 is broken, XPD/USD could extend its gains toward 1868.93.
Invalidation Level / Bias Revision
The upside bias weakens if XPD/USD falls below 1621.37.
Technical Summary
EMA(50) : 1713.71
EMA(200): 1718.37
RSI(14) : 54.13 + Hidden Bullish Divergent
Economic News Release Agenda:
From the United States the following economic data will be released:
US - ADP Weekly Employment Change - Tentative
US - Core Retail Sales m/m - 20:30 WIB
US - Retail Sales m/m - 20:30 WIB
US - Employment Cost Index q/q - 20:30 WIB
US - Import Prices m/m - 20:30 WIB
US - Business Inventories m/m - 22:00 WIB
US - API Weekly Statistical Bulletin - 04:30 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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