June 7, 2023-MHM European Perspective

Market Overview

Spot gold traded in a narrow range during Asian hours on Wednesday (June 7), trading near $1,963.35 an ounce. In recent trading days, there are few economic data and the Federal Reserve has entered a quiet period. The market is in a strong wait-and-see mood, generally waiting for next week's US CPI data and the Federal Reserve's interest rate resolution in June.

Us crude oil weakened slightly and is currently trading near $71.30 a barrel. While Saudi Arabia helped oil prices jump over the weekend by cutting an additional 1 million barrels, they have now given up all of those gains. Oil prices were weighed down by poor U.S. non-manufacturing PMI data overnight, which raised recession fears. Bulls were also wary of an expected rise in U.S. crude inventories last week.

Still, cooling expectations for a U.S. interest rate hike in June, a weaker dollar index and still relatively strong U.S. stocks are expected to provide support to oil prices.

This trading day will be the EIA monthly report on the crude oil market, investors need to pay attention to, in addition, pay attention to the API crude oil inventory series data performance; Also keep an eye on U.S. trade data for April; Treasury Secretary Janet Yellen will appear before the House Financial Services Committee, and investors need to pay attention.

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 June 7, Beijing time.

Intraday Oscillation Range: 1903-1911-1929-1937-1951-1978-1985-1998

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, 1903-1911-1929-1937-1951-1978-1985-1998 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 June 7. 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: 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, 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 June 7. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday   Oscillation Range: 66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1

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, 66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1   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 June 7. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation Range: 1.0460-1.0570-1.0690-1.0755-1.0830

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, 1.0460-1.0570-1.0690-1.0755-1.0830 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 June 7. This policy is a daytime policy. Please   pay attention to the policy release time.

Intraday Oscillation Range: 1.2250-1.2375-1.2400-1.2470-1.2550

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, 1.2250-1.2375-1.2400-1.2470-1.2550 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 June 7. This policy is a daytime policy.   Please pay attention to the policy release time.