June 12, 2023-MHM European Perspective
Market Overview
On Monday (June 12), spot gold oscillated in a narrow range during the Asian session and is currently trading near $1,960 per ounce. The market is generally waiting for the U.S. CPI data for May and the Federal Reserve interest rate resolution out this week, investors are in a strong wait-and-see mood and trading is relatively light. U.S. CPI in May may record the lowest growth rate in nearly a year and a half, and the Fed is likely to suspend interest rate hikes. The situation in Russia and Ukraine has been tense, which provides support for gold prices, but the market is concerned that the Federal Reserve may still maintain a hawkish attitude, the probability of a rate hike in July, which makes the bulls have concerns.
U.S. crude oil has weakened and is currently trading near $69.33 per barrel. Concerns about growing Chinese fuel demand and rising Russian crude supplies are weighing on the market, and a sharp increase in U.S. refined oil inventories during the peak summer demand period also hints at poor demand, combining to drag oil prices slightly to the short side.
This trading day mainly pay attention to China's May M2 and other financial data, and pay attention to the market's expectations of the U.S. May CPI data and changes in the Federal Reserve resolution.
MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on June 12, Beijing time.
Intraday Oscillation Range: 1911-1929-1937-1951-1978-1985-1998-2007-2016
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, 1911-1929-1937-1951-1978-1985-1998-2007-2016 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 June 12. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 23.1-23.9-24.5-25.3-26.1
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, 23.1-23.9-24.5-25.3-26.1 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 June 12. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: , 67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1
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 Crude Oil, 67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1 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 June 12. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.0570-1.0690-1.0755-1.0830-1.0950-1.1157
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, 1.0570-1.0690-1.0755-1.0830-1.0950-1.1157 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 June 12. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.2375-1.2400-1.2470-1.2550-1.27000
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, 1.2375-1.2400-1.2470-1.2550-1.27000 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 June 12. This policy is a daytime policy. Please pay attention to the policy release time.
