Price pierced through previous demand levels which means there is not much liquidity at that price anymore.
// Sharp movement caused by +PMI News signaling a recovering economy causing investors to flock away from safe-haven assets.
// Investors gained more confidence in USD after +PMI News pushing
DXY
up and
XAUUSD
down.
Expecting downtrend to continue until next demand level.
I am expecting the price to retrace back to Fib(0.382) before continuing its downtrend.
// Sharp movement caused by +PMI News signaling a recovering economy causing investors to flock away from safe-haven assets.
// Investors gained more confidence in USD after +PMI News pushing
DXY
up and
XAUUSD
down. Expecting downtrend to continue until next demand level.
I am expecting the price to retrace back to Fib(0.382) before continuing its downtrend.