Subscribe to RSS

Forex Technical Analysis XPD/USD : 2016-02-04

New palladium fund to appear

The palladium prices have been underperforming a lot the growing gold which may push palladium prices up. Now the gold is traded near the 3-month high while palladium is 27% lower. Will its price edge up?

The gold is actively used as a risk-free asset being part of foreign reserves of almost every country. Palladium is less used for such a purpose but it is a part of chemical catalysts in automobile and chemical industries. Oil prices growth whets appetite for the metal. We assume palladium prices may increase on the world’s major palladium producer Norilsk Nickel plans to establish a palladium fund and to buy out the metal from the Bank of Russia. The fund assets may amount to $300-550mln. Vladimir Potanin, the head and co-owner of Norilsk Nickel, stated that the financial companies of another Russian magnate Roman Abramovich may invest in the fund as well. The Bank of Russia previously has approved of selling palladium from its reserves but the details are not revealed so far.

XPD/XAU

XPDUSD

On the daily chart XPDUSD: D1 has rebounded from the downtrend support and the 6-year low. It has been traded in a very narrow range for almost two weeks. MACD and Parabolic indicators give buy signals.RSI oscillator is advancing and has formed the positive divergence. It is being above 50. The Bollinger bands are contracting which means lower volatility. The bullish momentum may develop in case palladium surpasses the two last fractal highs and two upper trend lines at 508. This level may serve the point of entry. The initial risk-limit may be placed below the Parabolic signal at 469. Having opened the pending order we shall move the stop to the next fractal low following the Parabolic and Bollinger signals. Thus, we are changing the probable profit/loss ratio to the breakeven point. The most risk-averse traders may switch to the 4-hour chart after the trade and place there a stop-loss moving it in the direction of the trade. If the price meets the stop-loss level at 469 without reaching the order at 508, we recommend cancelling the position: the market sustains internal changes which were not taken into account.

Position Buy
Buy stop above 508
Stop loss below 469

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

123% Tradable Deposit Bonus Promotion – FreshForex

123% Tradable Deposit Bonus Promotion – FreshForex(0)

Get 123% Tradable Deposit Bonus Promotion gives a real chance to start Forex trading with low investment and double return. Start efficient Forex trading with Tradable Bonus 123% Campaign. Link:  123% Tradable Deposit Bonus Promotion Link:  $5 Forex No Bonus Promotion Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: Get 123%

500 Cent Forex No Deposit Welcome Bonus – FortFs

500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2017-2018 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

$10000 Monthly Challenge Live Trading Contest – FXCM

$10000 Monthly Challenge Live Trading Contest – FXCM(0)

$10,000 Monthly Challenge Live Trading Contest Compete to Win Cash Prizes. The Contest only available to FXCM Mini Account clients Join the monthly Live Trading Contest by opening an FXCM Mini Account with as little as $50. Link:  $10000 Monthly Challenge Contest Available to: All Mini Account clients Contest offer: $10,000 Monthly Challenge Live Trading

$1000 Free No Deposit Forex Bonus – Grand Capital

$1000 Free No Deposit Forex Bonus – Grand Capital(0)

Contests for Forex trader Main Prize $1000 Free No Deposit Forex Bonus. The Contests main prize is $1000 Free No Deposit Forex Bonus with fully withdraw able profit Link:  $1000 Free Bonus‎ Trader Contest Link:  $500 Forex No Deposit Welcome Bonus Link:  Up to 444% Profit Receive for a single trade Link:  40% Forex Deposit

Up to $5000 Trading Credits Bonus Promo – HYCM

Up to $5000 Trading Credits Bonus Promo – HYCM(0)

25% Forex Credit Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$20 Forex No Deposit  Bonus Promo Action – NPBFX

$20 Forex No Deposit Bonus Promo Action – NPBFX(0)

$20 Free No Deposit Bonus Promo action. $20 Free No Deposit Bonus Client must submit application of requesting the accrual of bonus funds with indicating the number of trading account by email  info@npbfx.com. Link:  $20 Free Bonus Promo Action Ending Date:  1 March 2017 Available to:   New Clients only Bonus Offer: $20 Free No Deposit

300% Forex Tradable Bonus Promotion 2017 – MarketsYes

300% Forex Tradable Bonus Promotion 2017 – MarketsYes(0)

300% Forex Tradable Bonus Promotion All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Bonus. Link:  300% Tradable Bonus Promotion Available to: All New and existing clients Ending Date: 31 December 2017 Bonus offer:  300% Tradable Bonus Promotion All New and existing clients. SETTLEMENT

FX Zones Forex Demo Trading Contests – Forex Time

FX Zones Forex Demo Trading Contests – Forex Time(0)

FX Zones Forex Demo Trading Contests 2017 Win up to a total of $12,000. ForexTime is doing something extra special with its trading contests this year, starting with FX Zones Forex Demo Trading Contest  2017 Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw-able Cashback Rebates Available to:   New Clients only Contest

Get $88.8 Forex Free No Deposit Bonus – FBS Inc

Get $88.8 Forex Free No Deposit Bonus – FBS Inc(0)

Get $88.8 Forex Free No Deposit Bonus when you open your first FBS Real Account. The $88.8 Free Forex bonuses is credited automatically after account opening, upon verification of the clients phone number and e-mail. Link:  $123 Forex No Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Link:  100% Forex

100% Welcome Bonus to Your First Deposit – AvaTrade

100% Welcome Bonus to Your First Deposit – AvaTrade(0)

100% Special Welcome Bonus Offer to your first deposit Up to $300. Start trading today and in honor of our Irish roots we’ll give you a St. Patrick Day special Welcome bonus of up to 100% Link:  100% Special Bonus to Your First Deposit Available to: All new account Ending Date: 31 December 2017 Bonus

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories