Categories: Technical analysis

Palladium Wave Analysis – 10 August, 2020

• Palladium reversed from key support level 2160.00

• Likely to rise to 2400.00

Palladium recently reversed up from the pivotal support level 2160.00 (former monthly high from May) – standing near the 50% Fibonacci correction of the previous upward price impulse from June.

The upward reversal from the support level 2160.00 started the active short-term impulse wave (iii).

Palladium is likely to rise further toward the next resistance level 2400.00 (top of the previous waves (i) and (v) from the end of June).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: PDUUSD

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