Mai hui MHmarkets: June 19, 2023-MHM European Perspective
Market Overview
On Monday (June 19), spot gold narrowly oscillated during the Asian session and is currently trading near $1957.14 per ounce; gold price rally was blocked last Friday, and the U.S. consumer confidence data was better than expected; Fed officials made hawkish speeches, helping the dollar and U.S. bond yields rally, making gold bulls have concerns. And last week the U.S. stock market hit a new high of more than a year, which also suppressed the safe-haven demand for gold.
The U.S. dollar index is in a narrow range, and is currently trading around 102.30. Last Friday, the dollar index once fell to a low of 102.00, then rebounded and finally closed up 0.15% at 102.30. UBS analysts believe that the Fed will not raise interest rates again, but the first rate cut will be in December. The bank believes that the economy will slow sharply in the second half of the year and inflation will be lower than the Fed's expectations. The BoJ maintained its dovish stance on Friday, causing the yen to plunge, and the dollar rose to a six-month high against the yen at one point. The BoE will hold its next interest rate resolution on June 22, and the market generally expects the Bank of England to raise interest rates by 25 basis points.
U.S. crude oil is trading near $71.12 per barrel; oil prices climbed on Friday and are also up on a weekly basis, helped by increased Chinese demand and OPEC+ supply cuts. This is despite expectations of a weaker global economic outlook and further interest rate rises. Intraday focus: Turkish energy delegation and Iraqi oil officials met in Baghdad to discuss resumption of oil exports from northern Iraq.
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 19, Beijing time.
Intraday Oscillation Range: 1929-1937-1951-1978-1985-1998-2007
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, 1929-1937-1951-1978-1985-1998-2007 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 19. 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
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 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 19. 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: 62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1In 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 19. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.0755-1.0830-1.0950-1.1157-1.1220
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, 1.0755-1.0830-1.0950-1.1157-1.1220 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 19. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.25000-1.27000-1.28200-1.29300-1.30000
Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.25000-1.27000-1.28200-1.29300-1.30000-1.30600
In the subsequent period of GBPUSD, 1.25000-1.27000-1.28200-1.29300-1.30000 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 19. This policy is a daytime policy. Please pay attention to the policy release time.
