Mohicans markets：January 3, 2023 - MHM European Perspective

Market Overview

The dollar shook sharply against the yen early in Asian trading on Tuesday, January 3, once hitting a near five-month low near 130.53. The view that the Bank of Japan will change its low interest rate course is being pursued, with the BOJ considering raising its inflation forecast and expecting to move closer to its 2% target in fiscal year 2024, according to Nikkei. However, overall market trading is still somewhat limited due to the New Year's Day holiday on Monday, with the dollar and risk appetite leading the market. Coupled with the strong support for the exchange rate near the 130 mark, some yen bulls took profits as the super week approached, and the dollar pulled up more than 80 points against the yen in the short term to around 131.39, which is currently trading around 130.77.

The dollar index rose 0.22% on Monday to close at 103.73. The dollar index was also volatile on Tuesday, touching a low near 103.59 before quickly pulling up to near 103.89 and now trading near 103.70.

Spot gold shocked higher, once hitting a new high since June 24 to $1844.13 per ounce. Major investment banks expect the U.S. economy to recession, the Federal Reserve policy will gradually turn in 2023. Relative weakness in the dollar index, to provide support for gold prices. International Monetary Fund (IMF) President Georgieva also expressed concern about the global economic outlook, adding to the attractiveness of gold.

U.S. crude oil is trading at $80.47 per barrel; despite Friday's EIA energy report showing a decline in U.S. demand for crude oil and oil products in October 2022; Russia admitted on Monday that dozens of Russian military personnel were killed in an attack, which was one of the deadliest in the war in Ukraine; perhaps increasing geopolitical tensions and boosting oil prices.

This week will see the minutes of the Federal Reserve's December interest rate resolution and also the U.S. non-farm payrolls report for December. At the same time, the U.S. December ISM manufacturing and non-manufacturing PMI data will also be out of, the market impact are very large, investors need to pay attention in advance.

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 3, 2023, Beijing time. 

Intraday Oscillation Range: 1817-1833-1856

Overall Large Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1880

Spot gold in the subsequent period, 1817-1833-1856 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 January 3. 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 Large Oscillation Range: 20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1Spot silver in the subsequent period, 23.1-23.9-24.5-25.3 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 January 3. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 75.1-77.3-78.5-79.9-81.3

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, 75.1-77.3-78.5-79.9-81.3 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 January 3. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.0470-1.0580-1.0690

Overall Large Oscillation Range: 1.0290-1.0360-1.0470-1.0580-1.0690-1.0755

EURUSD in the subsequent period,1.0470-1.0580-1.0690 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 January 3. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.1830-1.1920-1.2030-1.2135

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

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 January 3. This policy is a daytime policy. Please pay attention to the policy release time.