MHMarkets:January 18, 2023 - MHM European Perspective
Market Overview
On Wednesday, January 18, international gold prices fell slightly for the third consecutive session, with the short term expected to dip to $1898, but expectations of a slower pace of interest rate hikes from the Federal Reserve limited the decline. The market is concerned about the upcoming U.S. PPI and retail sales data.
Edward Meir, metals analyst at Marex, said: "Gold will rally around $1,900 in the near term. I don't think we will see any big swings and it will stay in neutral territory. The market focus will be on economic data. If the macro narrative continues with a tone of cooling inflation and falling interest rates, then it will be positive for gold."
Investors will pay close attention to the U.S. Producer Price Index (PPI) and retail sales data to be released later in the day. Both are expected to support a further slowdown in the pace of interest rate hikes by the Fed, which may raise rates by 25 basis points on February 1. After four consecutive sharp rate hikes of 75 basis points, the Fed slowed the pace of rate hikes to 50 basis points in December last year.
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 January 18th, 2023, Beijing time.
Intraday Oscillation Range: 1883-1911-1929
Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1883-1911-1929-1937
In the subsequent period of spot gold, 1883-1911-1929 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 on 18th Jan. It is the daytime policy. Please pay attention to the release time.
Intraday Oscillation Range: 23.1-23.9-24.5-25.3
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, 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 on 18th Jan. It is the daytime policy. Please pay attention to the release time.
Intraday Oscillation Range: 77.3-78.5-79.9-80.7-82.3
Overall Oscillation Range:
70.1-71.2-72.3-73.1-73.8-75.1-77.3-78.5-79.9-80.7-82.3-83.5
In the subsequent period of US crude oil, 77.3-78.5-79.9-80.7-82.3 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 on 18th Jan. It is the daytime policy. Please pay attention to the release time.
Intraday Oscillation Range: 1.0690-1.0755-1.0830-1.0910
Overall Oscillation Range: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0910-1.1060
In the subsequent period of EURUSD, 1.0690-1.0755-1.0830-1.0910 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 on 18th Jan. It is the daytime policy. Please pay attention to the release time.
Intraday Oscillation Range: 1.1920-1.2030-1.2135-1.2250-1.2375
Overall Oscillation Range:
1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.247
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 on 18th Jan. It is the daytime policy. Please pay attention to the release time.
