Equity futures sank on Friday morning
Ichimoku Kinko Hyo NZD/JPY: The NZD/JPY pair is now testing the Tenkan Sen level…
Palladium is down by 42%
Information is not investment advice
Key indicators
Performance in 2020: -10%
Last day range: $1,678 - $2,046
52-week range: $1,678 - $2,878
What’s happening?
On February 27, palladium was at its all-time high of $2,878. As you can see, until then, it cared pretty little about the coronavirus and its consequences on the global economy. But finally, the sell-off mood hit this asset as well. Now, it trades at $1,748 after it fell to Autumn-2019 low of $1,674. From the all-time high, it makes a 42% drop! Needless to say, all the Moving Averages were crossed in no time. Currently, the support of $1,300 may be the closest target, after a correction upwards takes place.
Technical levels
Resistance $2,048
Support $1,300
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Time to Sell AUD
The Reserve Bank of Australia will hold a meeting on August 3. Analysts expect a dovish move, which may send the AUD down.
Equity futures sank on Friday morning
Ichimoku Kinko Hyo NZD/JPY: The NZD/JPY pair is now testing the Tenkan Sen level…
USD/JPY: Take Your Profits
USD/JPY declined further during yesterday’s trading, reaching as low as 109.36, while our short signal from 110.20 is still active and is giving us over 80 pips.
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