MHMarkets：The dollar fell higher on the day, non-US currencies and precious metals were weak. Besides, US crude oil fell sharply!

Market Overview

Spot gold fluctuates in a narrow range on Tuesday (August 8) in Asia, currently trading near $1,934.17 per ounce. The data is relatively light and the market is in a strong wait and see mood, generally waiting for Thursday's US CPI data for July to make clear whether there will be further interest rate hikes.

Gold came under pressure overnight as Federal Reserve Governor Bowman reiterated the need for further interest rate hikes, providing support for the dollar, but New York Fed President William Williams' dovish comments weighed on Treasury yields, providing support for gold. Watch for a breakout in the 1925-1947 zone, the support from last week's low and the mid-rail resistance of the Bollinger line.

This session needs to watch speeches from Philadelphia Fed President Harker, who has been slightly dovish in style over the past two months, and Richmond Fed President Barkin, who has been more neutral and slightly hawkish in style over the past two months.

U.S. crude is trading around $81.50 per barrel in a volatile session. While supply concerns stemming from Saudi Arabia and Russia's production cuts have supported the market, weaker Chinese import and export data for July compared with June and lower crude imports from June have added to concerns about the outlook for crude demand and the U.S. summer driving season is ending in early September. In addition, oil prices on Monday against the April high resistance failed, short-term retracement pressure has increased.

Also, Polish pipeline operator PERN said it expects an oil pipeline carrying oil to Europe to resume operations on Tuesday, easing concerns over tight supplies.

Watch for the EIA monthly Short-term Energy Outlook and API Crude Oil Stock Changeseries this session, keep an eye out for comments from Fed officials, and watch for further fallout from China's July trade data.

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 August 8, Beijing time.

Intraday Oscillation Range: 1903-1919-1929-1937-1951-1960-1977

Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1919-1929-1937-1951-1960-1977-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100

In the subsequent period of spot gold, 1903-1919-1929-1937-1951-1960-1977 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 August 8. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 21.5-22.3-23.1-23.9-24.5

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, 21.5-22.3-23.1-23.9-24.5 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 August 8. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3

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, 77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3 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 August 8. 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: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303-1.13340

In the subsequent period of EURUSD, 1.0755-1.0830-1.0950-1.1157-1.1220can 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 August 8. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range:1.2470-1.25460-1.26505-1.27000-1.28200-1.29300

Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.25460-1.26505-1.27000-1.28200-1.29300-1.30000-1.30600-1.31000-1.31660-132000

In the subsequent period of GBPUSD, 1.2470-1.25460-1.26505-1.27000-1.28200-1.29300 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 August 8. This policy is a daytime policy. Please pay attention to the policy release time.