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Wave Tech Analysis

FxPro Forex Analysis: Palladium Wave Analysis – 08 August , 2018

• Palladium falling inside minor impulse wave (iii)
• Further losses are likely

Palladium continues to fall inside the minor impulse wave (iii) which started recently from the resistance zone lying between the resistance level 935.00 (former support from June and July) and the 50% Fibonacci correction of the previous downward impulse from June.

The active impulse wave (iii) belongs to the medium-term impulse wave C from the middle of April.

Palladium is likely to fall further and re-test the next strong support level 860.00 (low of the previous wave (i) from July).

PDUUSD2 - W - Aug-08 1655 PM (1 day)