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FX.co ★ Technical Analysis of Intraday Price Movement of Palladium Commodity Instrument vs USD, Tuesday February 04, 2025.

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Forex Analysis:::2025-02-04T06:07:13

Technical Analysis of Intraday Price Movement of Palladium Commodity Instrument vs USD, Tuesday February 04, 2025.

Technical Analysis of Intraday Price Movement of Palladium Commodity Instrument vs USD, Tuesday February 04, 2025.

After successfully testing the 1047.30 level on its 4-hour chart, XPD/USD formed a Bearish 123 pattern followed by the appearance of Divergence between the XPD/USD price movement and the Stochastic Oscillator indicator so that based on these two facts in the near future XPD/USD has the potential to be corrected to weaken down where the 1004.63 level will be tested to be broken and close below it if successful then XPD/USD will continue its weakening back to the 991.91 - 975.74 area level but if on its way to weakening suddenly XPD/USD strengthens again to break and close above the 1065.29 level then the weakening scenario that has been described will be invalid.

(Disclaimer)

Analyst InstaForex
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