Mohicans markets：MHM European Market

Market Overview

On Thursday (February 2), during the Asian session, the spot gold fluctuated at a high level, is trading near 1953 US dollars per ounce at present. Fed Chairman Powell made a slightly dovish speech, which made the US dollar continue to weaken and provided support for the gold price. The market's attention turned to the NFP report to be released on Friday. The market expectation is neutral and weak, slightly biased towards gold bulls.

US crude oil was trading around $76.92 per barrel; Oil prices fell nearly 3% on Wednesday. US government data showed that inventories of crude oil, gasoline and distillate oil increased significantly, while OPEC+maintained its production policy unchanged.

This trading day will also usher in the interest rate decisions of the BOE and the ECB, and the market is generally expected to raise the interest rate by 50 basis points respectively. On the one hand, this will increase the opportunity cost of holding gold, which may limit the rising space of gold price in the medium and long term, but on the other hand, the US dollar index may decline further in turn, which is expected to provide further momentum for gold price in the short term.

In terms of data, this trading day will also usher in changes in the number of initial jobless claims in the United States, the number of layoffs in challenger enterprises in the United States in January, and the monthly rate of factory orders in the United States in December. Investors also need to pay attention. At present, the market is optimistic about the monthly rate of US factory orders in December, which may provide some support for the US dollar.

The Mohicans Markets strategy is for reference only and not for investment advice. Please read the statement clauses at the end of the text carefully. The following strategy was updated at 15:00 Beijing time on February 2, 2023.

Intraday Oscillation Range: 1929-1937-1951-1978

Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1883-1903-1911-1929-1937-1951-1978-1985

In the subsequent period of spot gold, 1929-1937-1951-1978 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 February 2. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 22.3-23.1-23.9-24.5-25.3

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, 22.3-23.1-23.9-24.5-25.3 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 February 2. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 75.1-77.9-78.5-79.9-80.70

Overall Oscillation Range: 70.1-71.2-72.3-73.1-73.8-75.1-77.3-78.5-79.9-80.7-82.3-83.5-85.3

In the subsequent period of US crude oil, 75.1-77.9-78.5-79.9-80.70 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 February 2. 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 February 2. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.2030-1.2135-1.2250-1.2375-1.2400-1.2470

Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550

In the subsequent period of GBPUSD, 1.2030-1.2135-1.2250-1.2375-1.2400-1.2470 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 February 2. This policy is a daytime policy. Please pay attention to the policy release time.