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Wave Tech Analysis

FxPro Forex Analysis: Palladium Wave Analysis – 19 July , 2018

• Palladium broke round support level 900.00
• Likely to fall further

Palladium continues to fall sharply after the earlier breakout of the key round support level 900.00 (which stopped the previous medium-term impulse wave (C) in April, as can be seen from the daily Palladium chart below).

The breakout of the support level 900.00 accelerated the active medium-term ABC wave (2) from the middle of April.

Palladium is likely to fall further and re-test the next support level 840.00 (former support from July of last year).

PDUUSD - Primary Analysis - Jul-19 1741 PM (1 day)