palladium sliding towards 620s

Palladium among the metals are losing their shine for second week in row.

Palldium on the hourly chart as you can see in below chart has very strong resistance at 675$.

A short trade has been intiated at this level and another position was added at 662$ ,which is going to be a very strong resistance days ahead .

On weekly chart , we can find next support at 625$ area. So target for these short trades is 630$

Stop loss will be on close above 675$ .

All of that has been technical move , however that made people think that us dollar is going to rule because of the supposed rate hike in december and us elections in novemeber.

However , I predict that currencies and metals will make a come back and rule over dollar in thw fourth quarter.

Usd recovering against the board

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.

Gbp/Usd bearish below 1.2980$

The pair broke below the rising trendline in red as shown in the chart below. It is also trading below 200 hour moving average. There is horizontal resistance at 1.2980$ area followed by 1.3080$ area. Being Short is favorable with stop loss above 1.3080$. Target should be around 1.2640$ , you can book some profits at 1.2780$.

How Can you trade bitcoin and etherum

The market of crypto currencies will takeover the market of fiat currency "FX market" sooner or later. There are over 750digital currency and most of them are trading actively everyday. The market is very volatile compared to forex markets and that is a good reason for you not to use leverage . Using leverage or margin trading is the main reason for accounts liquidation. So , you can satisfy your greed for making large profits in short time by trading digital currencies without using leverage or margin trading. For one instant , Etherum made 100% profit during the last 10 days. it is not the only case here , we have siacoin, bytecoin , digibyte and many more doubled their price over just few hours and it is not a rare case. Markets move very vast and there is a big room for trading opportunities. There are many reputable and trusted crypto exchanges that you can use to start trading ; bitfinex , bittrex , poloniex , cex.io , coinbase and many more. For reference on the...

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