XAUUSD MARKET ANALYSIS

 Good evening traders, I hope you're all well and active in the markets. This week has multiple high impact fundament al news from the PPI to the recently happened CPI today during NY session. Into the markets I'm looking at XAUUSD where price rallied to a major H1 & H4 supply zone at 2475.750 & 2460.870 which was the origin of the previous major drop to the major H4 demand zone at 2374.904 & 2356.200. Price rallied into the major H4 supply zone and formed multiple candle closes inside supply followed by a constant push away from supply. Price has dropped 340 pips to 2441.610 forming lower lows and is still showing more bearish potential. Setup was a rally base drop, a reversal setup and I anticipate a retracement before a potential continuation of the drop lower.