June 9, 2023-MHM European Perspective

Market Overview

Spot gold fluctuated in a narrow range on Friday (June 9) in Asia, currently trading around $1964.36 per ounce. Poor overnight US preliminary data and a sharp fall in the dollar helped gold rise. Although short-term bullish signals have increased, bulls are still wary of watching ahead of the Federal Reserve interest rate decision next week. Gold prices remain in a nearly three-week choppy range.

At present, the Fed is widely expected to pause rate hikes next week, but there is still a near 30% probability of rate hikes and the possibility of maintaining a hawkish stance. However, CPI data for May May show that inflation growth will slow to its lowest level in nearly a year and a half, and gold prices will have a large trend in the afternoon.

U.S. crude oil has traded in a narrow range, currently trading near $70.95 a barrel. Overnight, U.S. preliminary data posted the worst performance in nearly a year and a half and the euro zone fell into a technical recession in the first quarter. The U.K. is also at risk of recession, adding to concerns about the outlook for crude demand, especially during the peak summer travel season. While there is still some bargain hunting supporting oil prices, short-term downside risks have increased after an unexpectedly large increase in US refined product inventories last week.

This trading day needs to pay attention to the US drilling data changes, as well as Russia and Ukraine geopolitical situation related news.

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 9, Beijing time.

Intraday Oscillation Range: 1911-1929-1937-1951-1978-1985-1998-2007-2016

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, 1911-1929-1937-1951-1978-1985-1998-2007-2016   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 9. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation   Range: 23.1-23.9-24.5-25.3-26.1

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, 23.1-23.9-24.5-25.3-26.1 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 9. This policy is a daytime   policy. Please pay attention to the policy release time.

Intraday   Oscillation Range: 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, 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 9. This policy is a daytime   policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.0570-1.0690-1.0755-1.0830-1.0950-1.1157

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, 1.0570-1.0690-1.0755-1.0830-1.0950-1.1157 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 June 9. 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 June 9. This policy is a daytime   policy. Please pay attention to the policy release time.