MHMarkets ：MHM European Market

Market Overview

During the Asian session on Wednesday (May 10), spot gold was slightly down, and is currently trading around $2028.44 per ounce. The Fed's “No. 3”, New York Fed President Williams said “inflation remains high and it is too early to judge the end of interest rate hikes; and I don't see any reason to cut rates this year”, which provides support to the dollar and makes gold bulls wary.

U.S. crude oil fell slightly and is currently trading near $73.05 per barrel; API crude oil inventories unexpectedly recorded the largest one-week increase in more than two months, causing the market to worry about weakening demand; and overnight EIA monthly report lowered oil price expectations, crude oil long morale is under pressure. In addition, the Federal Reserve official speech to suppress the interest rate cut expected during the year, the dollar stabilized the first two trading days rebound; oil prices are also suppressed by the resistance level, the short term oil prices face a certain risk of pullback.

The EIA crude oil inventory series and US CPI data for April need to be watched this trading day. Watch for news related to the U.S. House panel hearings on Silicon Valley Bank and Signature Bank and U.S. debt ceiling negotiations.

In addition, investors are generally concerned about the U.S. CPI data for April, which comes out in the evening. The market is currently expected to core CPI rose 5.5% year-on-year (previously 5.6%), which was still well above the Fed's 2% target, and CPI is expected to rise 0.5% YoY (previously 0.1%); the expected bias to support the dollar, negative gold prices, short-term gold prices face some risk of pullback.

The US House of Representatives panel will hold hearings on Silicon Valley Bank and Signature Bank within the day, which investors will also need to pay attention to.

MHMarkets 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 May 10, Beijing time.

Intraday Oscillation Range: 1998-2007-2016-2033-2046-2057-2066-2077

Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100

In the subsequent period of spot gold, 1998-2007-2016-2033-2046-2057-2066-2077 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 May 10. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 24.5-25.3-26.1-26.6

Overall Oscillation Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1-26.6-27.3

In the subsequent period of spot silver, 24.5-25.3-26.1-26.6 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 May 10. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 71.2-72.3-73.1-73.8-75.1-77.9

Overall Oscillation Range: 62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1

In the subsequent period of Crude Oil, 71.2-72.3-73.1-73.8-75.1-77.9 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 May 10. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.0690-1.0755-1.0830-1.0950-1.1157

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, 1.0690-1.0755-1.0830-1.0950-1.1157 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 May 10. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.2375-1.2400-1.2470-1.2550-1.27000

Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550-1.27000

In the subsequent period of GBPUSD, 1.2375-1.2400-1.2470-1.2550-1.27000 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 May 10. This policy is a daytime policy. Please pay attention to the policy release time.