Despite the potential for a correction, XPD/USD still has the opportunity to continue its strengthening

[Ben Graham]

[XPD/USD]

Although there is an appearance of Bearish Divergence, but with the RSI(14) condition which is in the Neutral-Bullish level, along with the EMA(50) above the EMA(200), which indicates a Golden Cross condition, it suggests that the bias for XPD/USD remains in a strengthening condition today.

Key Levels

1. Resistance. 2 : 1927.35

2. Resistance. 1 : 1879.07

3. Pivot : 1822.99

4. Support. 1 : 1774.71

5. Support. 2 : 1718.63

Tactical Scenario:

Positive Reaction Zone: If the price of XPD/USD breaks out above 1822.99, there is potential to test the level at 1879.07.

Momentum Extension Bias: If 1879.07 is also exceeded, then there is potential for further strengthening up to 1927.35.

Invalidation Level / Bias Revision:

The upside bias weakens if the price of XPD/USD declines and closes below 1718.63.

Technical Summary:

EMA(50) : 1826.41

EMA(200): 1749.03

RSI(14) : 64.97 + Bearish Divergent

Economic News Release Agenda:

Tonight, when the U.S. market session opens, the following economic data will be released:

US - ADP Weekly Employment Change - Tentative

US - Prelim GDP q/q - 20:30 WIB

US - Core Durable Goods Orders m/m - 20:30 WIB

US - Durable Goods Orders m/m - 20:30 WIB

US - Prelim GDP Price Index q/q - 20:30 WIB

US - Capacity Utilization Rate - 21:15 WIB

US - Industrial Production m/m - 21:15 WIB

US - CB Consumer Confidence - 22:00 WIB

US - Richmond Manufacturing Index - 22:00 WIB

US - API Weekly Statistical Bulletin - 04:30 WIB

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