MHMarkets ：MHM European Market
Market Overview
On Thursday (April 27) during the Asian session, spot gold rose slightly and is currently trading near the 2000 integer level. Investors continue to feel uneasy about the difficulties of the First Republic Bank of the United States and are concerned that US economic growth may unexpectedly shift downwards. Overnight, US stocks fell to a new low in nearly four weeks, providing support for gold prices.
US crude oil trading around 74.42 US dollars per barrel; Oil prices plummeted nearly 4% on Wednesday, continuing the sharp decline in the previous trading day. Despite previous reports showing a more than expected decline in US crude oil inventories, concerns about recession in the world's largest economy are growing.
The market is generally concerned about the US Q1 GDP data released in the evening. According to the Atlanta Federal Reserve's GDPNow, it is currently expected that the US GDP in the first quarter will grow at an annualized rate of 1.1% month on month, much lower than the 2.5% estimated a week ago. GDPNow tracks how upcoming data affects estimates of GDP for the current quarter.
This indicates that there may be downside risks to the US first quarter GDP data released later Thursday. Analysts surveyed by Reuters expect the US GDP to grow at an annualized rate of 2% in the first quarter. Wells Fargo Bank lowered its US GDP growth forecast by 100 basis points to a growth rate of 0.8%.
This expectation has kept the US dollar weak and also provided support for gold prices. The overall fundamentals are slightly biased towards bulls, while the technical gold price has fluctuated in the 1970-2015 region in the past two weeks. Pay attention to the breakthrough situation in this region, and the current signal is slightly biased towards bulls.
In addition, investors also need to pay attention to the changes in the number of US initial claims for unemployment benefits, the initial value of the annual quarterly rate of US consumer spending in the first quarter, the initial value of the annual quarterly rate of the core PCE price index in the first quarter of the US, and the relevant news of the US banking industry and the debt ceiling.
The MHMarkets strategy is for reference only and is not intended as investment advice. Please carefully read the statement terms at the end of the text. The following strategy update was made on April 27, 2023 at 15:00 Beijing time.
Intraday Oscillation Range: 1951-1978-1985-1998-2007-2016-2033
Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100
In the subsequent period of spot gold, 1951-1978-1985-1998-2007-2016-2033 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 April 27. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 23.9-24.5-25.3-26.1
Overall Oscillation Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1-26.6-27.3
In the subsequent period of spot silver, 23.9-24.5-25.3-26.1 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 April 27. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 71.2-72.3-73.1-73.8-75.1-77.9
Overall Oscillation Range: 62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1
In the subsequent period of spot silver, 71.2-72.3-73.1-73.8-75.1-77.9 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 April 27. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 23.9-24.5-25.3-26.1
Overall Oscillation Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1-26.6-27.3
In the subsequent period of spot silver, 23.9-24.5-25.3-26.1 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 April 27. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.0690-1.0755-1.0830-1.0950-1.1157
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, 1.0690-1.0755-1.0830-1.0950-1.1157 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 April 27. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.2250-1.2375-1.2400-1.2470-1.2550
Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550-1.27000
In the subsequent period of GBPUSD, 1.2250-1.2375-1.2400-1.2470-1.2550 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 April 27. This policy is a daytime policy. Please pay attention to the policy release time
