[Palladium vs USD]
With all technical conditions such as the Golden Cross intersection between the two EMAs and the RSI in the Neutral-Bullish area, then XPD/USD has the potential to strengthen in the near term.
Key Levels
1. Resistance. 2 : 1530.57
2. Resistance. 1 : 1508.51
3. Pivot : 1464.88
4. Support. 1 : 1442.82
5. Support. 2 : 1399.19
Tactical Scenario:
Positive Reaction Zone: If the price of XPD/USD breaks out and closes above 1464.88, it has the potential to strengthen to 1508.51.
Momentum Extension Bias: If 1508.51 is successfully broken, then XPD/USD will test the level at 1530.57.
Invalidation Level / Bias Revision:
The upside bias weakens if the price of Palladium vs USD falls below 1399.19.
Technical Summary:
EMA(50) : 1471.29
EMA(200): 1451.90
RSI(14) : 55.63
Economic News Release Agenda:
Tonight, the following economic data will be released from the United States:
US - ADP Non-Farm Employment Change - 20:15 WIB
US - Import Prices m/m - 20:30 WIB
US - Capacity Utilization Rate - 21:15 WIB
US - Industrial Production m/m - 21:15 WIB
US - Final Services PMI - 21:45 WIB
US - ISM Services PMI - 22:00 WIB
US - Crude Oil Inventories - 22:30 WIB
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