MHMarkets:11.02-European perspective
Market Overview
On Wednesday (November 2), Beijing time, in the morning of Asian market, spot gold fluctuated in a narrow range. At present, the trading volume is around 1650.63 US dollars/ounce. This trading day will usher in "small non farm" - the US ADP employment data and the US Federal Reserve interest rate resolution. The market has a strong wait-and-see mood;
The market generally expects that the Federal Reserve will raise interest rates by 75 basis points this week while releasing the signal of slowing down the pace of interest rate increase in the future. It is slightly biased to support gold prices before the interest rate resolution, but the unexpected increase of American job vacancies announced overnight has cooled this expectation. Because the market is worried that the strong job market makes it difficult for the Federal Reserve to turn quickly, and American inflation remains high, the upward space of gold price before the interest rate resolution may still be limited.
At present, the market expects that the number of ADP employees in the United States will increase 195000 in October and 205000 in September. Investors also need to pay attention.
Mohicans Markets 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 November 2, 2022 Beijing time.
Technical Analysis
Change of CME Group's option layout (futures price in December):
1690 Bullish increased, bearish slightly increased, short-term resistance
1675 Bullish sharp increased in and bearish slightly increased, with the bulls' first target and strong resistance
1660 Bullish slightly increased, bearish slightly decreased, resistance level
1650 Bullish decreased, bearish decreased, short-term key position
1625-1630 Bullish slightly reduced, bearish slightly reduced, key support level
1600-1610 Bullish unchanged, bearish sharply increased, short target range
Order flow key point marking (spot price):
1670-1673 Strong resistance
1667 First resistance after breaking
1657 Key resistance during the day, and the boundary between long and short
1650-1651 Short line resistance
1646 Short line support
1640-1642 Short-term key support, breaking down bullish sentiment
Note: The above strategy was updated at 15:00 on November 2. This policy is a daytime policy. Please pay attention to the policy release time.
Change of CME Group's option layout (futures price in December):
20.5 Bullish increased, bearish slightly decreased, mid-line target
20.25 Bullish increased, bearish slightly increased, resistance level
20 Bullish increased slightly and stocks were large, bullish increased. Bullish targets are also key resistance
19.75 Bullish decreased, bearish slightly increased, short-term resistance
19.5 Bullish increased, bearish increased, key support
19.25 Bullish increased, bearish slightly decreased, the second support
19-19.05 Bullish decreased, bearish slightly increased, key support
Order flow key point marking (spot price):
19.7 Third resistance
19.42 Second resistance
19.3 First resistance
18.9-19 Key support
18.6 Short line support
18-18.3 Important support area
Note: The above strategy was updated at 15:00 on November 2. This policy is a daytime policy. Please pay attention to the policy release time.
Order flow key point marking (December Futures Price)：
94-94.5 Bullish increase sharply, bearish increase slightly, long target
92-92.5 Bullish increase, bearish increase, long target, resistance area
90 Bullish increase sharply, bearish increase, long target, resistance
89 Bullish decrease sharply , bearish increase sharply, be alert for downward momentum after breaking the position
88 bullish increase sharply, bearish increased sharply, key support level
87 Bullish decrease, bearish increase, short target
86 Bullish increase, bearish increase, support level
85 Bullish increase slightly, bearish increase sharply, short target
84 Bullish decrease, bearish increase sharply, short target
83 Bullish increase slightly, bearish increase sharply, short target, support
Order flow key point marking：
92.5-93.5 Strong resistance area
89.8-90 Second resistance, key resistance area
88.6 Short-term support
87.5-87.8 Key support area during the day
86.7 Support
85.3 Upside key support
Note: The above strategy was updated at 15:00 on November 2. The strategy is a daytime strategy, please note the strategy release time.
CME Group options layout changes：
1.00 Bullish increase slightly, bearish decrease slightly, long target
0.995-0.9975 Bullish decrease sharply but the stock is large, bearish decrease sharply, rebound target and resistance
0.99 Bullish decrease, bearish overweight decrease but the stock is large, short-side strength weaken
0.985 Bullish decrease, bearish decrease, support level
0.9775-0.98 Bullish decrease, bearish increase and the stock is large, short target
Note: The above strategy was updated at 15:00 on November 2. The strategy is a daytime strategy, please note the strategy release time.
CME Group options layout changes：
1.17 Bullish decrease slightly but the stock is large, bearish increase slightly, long target
1.165 Bullish decrease slightly but the stock is large, bearish increase, long target and resistance
1.155 Bullish unchanged but the stock is large, bearish unchanged, rebound target
1.15 Bullish unchanged, bearish increase, fallback target
1.145-1.147 Bullish decrease slightly, bearish increase sharply, the next fallback target
1.14 Bullish unchanged, bearish increase, short target
1.135-1.137 Bullish unchanged but the stock is large, bearish increase, short target and support
Note: The above strategy was updated at 15:00 on November 2. The strategy is a daytime strategy, please note the strategy release time.
Statement|Disclaimer
Disclaimer: The information contained in this material is for general advice only. It does not take into account your investment goals, financial situation or special needs. We have made every effort to ensure the accuracy of the information as of the date of publication. MHMarkets makes no warranties or representations about this material. The examples in this material are for illustration only. To the extent permitted by law, MHMarkets and its employees shall not be liable for any loss or damage arising in any way, including negligence, from any information provided or omitted from this material. The features of MHMarkets products, including applicable fees and charges, are outlined in the product disclosure statements available on the MHMarkets website. Derivatives can be risky and losses can exceed your initial payment. MHMarkets recommends that you seek independent advice.
Mohicans Markets, (Abbreviation: MHMarkets or MHM, Chinese name: Maihui), Australian Financial Services License No. 001296777.
