Abstract:At the beginning of the Asian market on Wednesday (December 28), the US dollar index fluctuated in a narrow range and is currently trading near 104.21. The US dollar was flat on Tuesday after China said that it would cancel the COVID-19 centralized isolation requirement for inbound passengers, which is an important step for China to reopen its borders, although the number of COVID-19 cases is soaring.
Market Overview
At the beginning of the Asian market on Wednesday (December 28), the US dollar index fluctuated in a narrow range and is currently trading near 104.21. The US dollar was flat on Tuesday after China said that it would cancel the COVID-19 centralized isolation requirement for inbound passengers, which is an important step for China to reopen its borders, although the number of COVID-19 cases is soaring.
Spot gold fell slightly in shock. At present, it is trading near 1810 US dollars/ounce. The gold price is suppressed by the strong US bond yield. The yield of US 10-year treasury bonds hit a new high of 3.862% for nearly a month and a half overnight; However, the US dollar index is relatively weak, which still provides support for the gold price. After China decided to further relax the epidemic prevention restrictions, the safe haven buying of the US dollar needs to be further weakened.
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 December 28, 2022 Beijing time.
Intraday Oscillation Range: 1780-1803-1817-1833
Overall Large Oscillation Range: 1730-1756-1780-1803-1817-1833-1856
Spot gold in the subsequent period, 1780-1803-1817-1833 can be operated as an intraday range of bullish and bearish; 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 December 28. 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
Overall Large Oscillation Range: 20.6-21.5-22.3-23.1-23.9-24.5-25.3
Spot silver in the subsequent period, 22.3-23.1-23.9-24.5 can be operated as an intraday range of bullish and bearish; 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 December 28. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 77.3-78.5-79.9-81.3-82.1
Overall Large Oscillation Range: 70.1-71.2-72.3-73.1-73.8-75.1-77.3-78.5-79.9-81.3-82.1-83.5
U.S. crude oil in the subsequent period, 77.3-78.5-79.9-81.3-82.1 can be operated as a range of bullish and bearish; 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 December 28. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.0470-1.0580-1.0645
Overall Large Oscillation Range: 1.0290-1.0360-1.0470-1.0580-1.0645-1.0755
EURUSD in the subsequent period,1.0470-1.0580-1.0645 can be operated as an intraday range of bullish and bearish; 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 December 28. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.1920-1.2030-1.2135-1.2250
Overall Large Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2400-1.2470
GBPUSD in the subsequent period, 1.1920-1.2085-1.2250-1.2400 can be operated as an intraday range of bullish and bearish; 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 December 28. This policy is a daytime policy. Please pay attention to the policy 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.
Spot gold weakened slightly during the Asian session on Thursday (April 6), hitting a two-day low of $2007.89 per ounce and now trading near $2014.15. A series of weak economic data has fueled fears of an impending recession in the US, giving safe-haven support to the dollar. And some dollar shorts took profits, and gold bulls also took profits ahead of Good Friday and the non-farm payrolls data, putting pressure on gold prices.
On Wednesday, as the less-than-expected March "ADP" data and non-manufacturing PMI data fueled market concerns about an economic slowdown and spurred bets that the Federal Reserve could slow interest rate hikes. Spot gold continued to brush a new high since March last year, which was the highest intraday to $2032.13 per ounce, and then retracted most of the day's gains, finally closing up 0.01% at $2020.82 per ounce; spot silver hovered around $25 during the day, finally closing down 0.21% at $2
Spot gold oscillated slightly lower during the Asian session on Tuesday (April 4) and is currently trading around $1980.13 per ounce. The dollar index rebounded mildly after a big drop overnight, putting pressure on gold prices. However, this week will see the non-farm payrolls report, there is no important economic data out on Tuesday, and the market wait-and-see sentiment is getting stronger.
On Monday, in OPEC + members unexpectedly cut production reignited market concerns about long-term inflation and sparked uncertainty about the Fed's response, the dollar index once up to the 103 mark, and then on a "vertical roller coaster", giving back all the gains of the day and once lost 102 mark, finally closed down 0.53% at 102.04; U.S. 10-year Treasury yields rose and then fell, as data showed that the U.S. economy continues to slow, it fell sharply in the U.S. session, and once to a low