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#XPD/USD
With the Sideways condition confirmed by the movement of #XPD/USD back and forth between its two EMAs, but the RSI(14) is in the Neutral-Bearish area, then in the near future it has the potential to test its nearest support level.
Key Levels
1. Resistance. 2 : 1628.45
2. Resistance. 1 : 1591.66
3. Pivot : 1560.75
4. Support. 1 : 1523.96
5. Support. 2 : 1493.05
Tactical Scenario
Pressure Zone: If the price breaks down below 1523.96, there is potential for continuing pressure toward 1493.05.
Momentum Extension Bias: If 1493.05 is also broken, #XPD/USD may continue weakening toward 1456.26.
Invalidation Level / Bias Revision
The downside bias is restrained if #XPD/USD strengthens and breaks above 1628.45.
Technical Summary
EMA(50) : 1556.77
EMA(200): 1557.71
RSI(14) : 47.43
Economic News Release Agenda:
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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