XAUUSD - Continued to fall sharply as the USD soared
Updated
Gold prices today (October 25), the world market continues to decrease compared to the previous session, when the USD soared. The service sector purchasing managers' index in October in the US increased sharply.
According to technical analysis, the PMI index increased to 50 points for an economy that is expanding its production and business scale. Since April 2023, only a few US manufacturing purchasing managers have fallen below 50 points and have now returned to this level.
In particular, in the European region, the PMI index in the manufacturing sector of major economies including the UK and Germany also increased. Specifically, the October product sector PMI in the UK reached 45.2 points, higher than the forecast of 44.7 points and September's level of 44.3 points.
The PMI index of the manufacturing sector in Germany in October reached 40.7 points, higher than the 40 points of the newspaper project and 39.6 points in September. Although the PMI index of the UK and Germany has not reached the opening level. widely, but increased more than forecast and last month showed telling economic signals of a product recovery.
After the PMI index increased, the USD skyrocketed. The Dollar-Index - measuring the strength of the USD in a basket of 6 home currencies, increased sharply by 0.7% compared to the previous session, to 106,270 points, at 6:22 a.m. this morning (Hanoi time).
According to technical analysis, the PMI index increased to 50 points for an economy that is expanding its production and business scale. Since April 2023, only a few US manufacturing purchasing managers have fallen below 50 points and have now returned to this level.
In particular, in the European region, the PMI index in the manufacturing sector of major economies including the UK and Germany also increased. Specifically, the October product sector PMI in the UK reached 45.2 points, higher than the forecast of 44.7 points and September's level of 44.3 points.
The PMI index of the manufacturing sector in Germany in October reached 40.7 points, higher than the 40 points of the newspaper project and 39.6 points in September. Although the PMI index of the UK and Germany has not reached the opening level. widely, but increased more than forecast and last month showed telling economic signals of a product recovery.
After the PMI index increased, the USD skyrocketed. The Dollar-Index - measuring the strength of the USD in a basket of 6 home currencies, increased sharply by 0.7% compared to the previous session, to 106,270 points, at 6:22 a.m. this morning (Hanoi time).
Note
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✔️TP2 1965
⚠️SL 1945
Note
XAUUSD SELL 1975-1977✔️TP1 1968
✔️TP2 1960
⚠️SL 1985
Note
Running +20Pips ✔️✔️Note
SELL Hit TP1+70Pips ✔️✔️
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