Palladium Price Analysis: XPD/USD directs nearby resistance breakout towards 200-EMA

  • Palladium picks up bids, extends previous day’s break of weekly resistance line.
  • Bullish MACD, sustained trading above 61.8% Fibonacci retracement favor buyers.

Palladium (XPD/USD) remains on the front foot around $2,045, up 0.18% intraday during the early European session on Tuesday.

The precious metal crossed a downward sloping trend line from October 14 the previous day. The same joins upbeat MACD signals to keep buyers hopeful.

However, a clear upside break of the 200-EMA, around $2,070 by the press time, becomes necessary for the commodity bulls before challenging the monthly peak of $2,176.

During the rise, the $2,100 threshold will become an intermediate halt.

Meanwhile, pullback moves remain less important until staying beyond the previous resistance line, close to $2,025 at the latest.

Also acting as a downside filter is the $2,000 psychological magnet and 61.8% Fibonacci retracement of the early October advances, near $1,974.

Overall, palladium prices are likely to extend recovery moves but a bumpy road ahead challenge the buyers.

Palladium: Four-hour chart

Trend: Further upside expected

Additional important levels

Today last price 2043.62
Today Daily Change 3.70
Today Daily Change % 0.18%
Today daily open 2039.92
Daily SMA20 2018.79
Daily SMA50 2079.08
Daily SMA100 2353.14
Daily SMA200 2509.56
Previous Daily High 2053.17
Previous Daily Low 2013.88
Previous Weekly High 2101.4
Previous Weekly Low 1979.08
Previous Monthly High 2446.72
Previous Monthly Low 1848.93
Daily Fibonacci 38.2% 2038.16
Daily Fibonacci 61.8% 2028.89
Daily Pivot Point S1 2018.14
Daily Pivot Point S2 1996.37
Daily Pivot Point S3 1978.85
Daily Pivot Point R1 2057.43
Daily Pivot Point R2 2074.95
Daily Pivot Point R3 2096.72



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD recovers toward 1.1350 on modest dollar weakness

EUR/USD edged higher in the early American session and managed to erase its daily losses. Ahead of Fed Chair Powell's testimony, the pair is closing in on 1.1350. Earlier in the session, the data from the US showed that employment in the private sector rose by 534,000 in April, surpassing the market expectation of 525,000. 


GBP/USD extends sideways grind around 1.3300 ahead of Powell's testimony

GBP/USD continues to move sideways around the 1.3300 handle on Wednesday after the data from the US failed to trigger a significant market reaction. The ADP Employment Change arrived at +534K in November, compared to the market expectation of 525,000. FOMC Chairman Powell will testify at 1500 GMT.


Gold still depressed despite the better market mood

Gold recovered on Wednesday alongside the market’s mood, currently trading in the $1,780.00 region. The bright metal advanced on easing demand for the American currency, as stocks turned green following Tuesday’s setback. 

Gold News

Bitcoin to blast off to $100,000 following Plan B’s Stock-to-Flow model

Analysts are evaluating the probability of Bitcoin hitting fresh all-time highs before the end of 2021. There is a spike in fear among Bitcoin traders, but open interest in the futures market remains high despite sell-off. 

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!