MHMarkets:February 13, 2023 - MHM European Perspective
Market Overview
On Monday, February 13, the spot gold weakened slightly in the Asian session, and is currently trading at around US $1859.55/ounce, because after the US Department of Labor raised the US December CPI data last Friday, the market expected that the US inflation growth rate in January might pick up, providing the momentum for the US dollar to rise, and the US Treasury bond yield 10 years ago was also near the high of more than one month, putting pressure on the gold price.
However, no important economic data was released on this trading day. And the market was in a strong wait-and-see mood before the US CPI data was released on Tuesday. The geopolitical situation is relatively tense. Some central banks have increased their holdings of gold before, and there are still bargain-hunting to support the gold price. The gold price still has the possibility of maintaining a volatile trend in the short term.
This trading day needs to pay attention to the expectation changes in the market's CPI data of the United States in January, and pay attention to the geopolitical situation and the meeting of the Eurogroup Finance Ministers' Meeting.
US crude oil has fallen back in shock and is currently trading at around US $78.83/barrel. On the one hand, the market expects that US inflation will rise and the US dollar will rebound, which will depress oil prices. On the other hand, the market is concerned about the short-term demand concerns caused by the overhaul of refineries in Asia and the United States. In addition, the sharp increase in US crude oil drilling data also made bulls wary.
However, Russia announced on Friday that it would reduce its output by 500,000 barrels per day in March. OPEC+insisted on maintaining its output policy unchanged. China's economic recovery prospects are optimistic, and the oil price is still prone to shocks in the future.
No important economic data was released on this trading day. We need to pay attention to the Eurogroup Finance Ministers' Meeting and the economic forecast report released by the European Union, leaving the market with information about the changes in the US CPI data in January and the geopolitical situation.
The Mohicans Markets strategy is for reference only and not for investment advice. Please read the statement clauses at the end of the text carefully. The following strategy was updated at 15:00 Beijing time on February 13, 2023.
Intraday Oscillation Range: 1833-1856-1883-1900
Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1883-1903-1911-1929-1937-1951-1978-1985
In the subsequent period of spot gold, 1833-1856-1883-1900 can be operated as the bull and bear range; High throw low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on February 13. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 21.5-22.3-23.1-23.9
Overall Oscillation Range: 20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1
In the subsequent period of spot silver, 21.5-22.3-23.1-23.9 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on February 13. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 75.1-77.9-78.5-79.9-80.7
Overall Oscillation Range:
70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3
In the subsequent period of US crude oil, 75.1-77.9-78.5-79.9-80.7 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on February 13. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.0570-1.0690-1.0755-1.0830-1.0950
Overall Oscillation Range: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303
In the subsequent period of EURUSD, 1.0570-1.0690-1.0755-1.0830-1.0950 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on February 13. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.1920-1.2030-1.2135-1.2250-1.2375
Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550
In the subsequent period of GBPUSD, 1.1920-1.2030-1.2135-1.2250-1.2375 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on February 13. This policy is a daytime policy. Please pay attention to the policy release time.
