Mohicans markets：12.29-MHM European Viewpoint

Market Overview

On Thursday (December 29), in the Asian session, spot gold rose slightly, trading at 1809.21 dollars/ounce. The dollar index weakened slightly, providing support for gold prices. Moreover, the fall of gold prices on Wednesday once again held the key support of the 21 day moving average, and there were some bargain hunting in the gold market. Since this week, the news about the Asian epidemic has had a great impact on the market sentiment, and the market worries have fluctuated. The overall analysts are slightly bullish on the future gold market.

The dollar index fluctuated narrowly, and the current trading volume is around 104.50. On Wednesday, the dollar index rose 0.3% to close at 104.52; The US dollar hit a one week high against the Japanese yen on Wednesday, rising for four consecutive trading days, boosted by the jump in US bond yields and investors' expectation that China's economic growth will rebound due to the relaxation of COVID-19's prevention and control measures.

The US dollar rebounded as much as 0.67% against the Japanese yen in the Asian trading session to 134.40 yen. In New York, it rose further, reaching a peak of 134.50, up about 0.75%, the largest increase since December 20. At that time, the Bank of Japan unexpectedly relaxed the policy range of 10-year Japanese government bond yield, causing the US dollar to fall sharply against the Japanese yen.

On the same day, the yen recorded its biggest one-day rise against the dollar in 24 years, rising 3.8% at the end of the day as traders speculated that stimulus measures would eventually be withdrawn.

However, the summary of meeting opinions released on Wednesday showed that policymakers supported the continued implementation of ultra loose policies, even though they discussed the improvement prospects of wage growth and sustained inflation next year.

On this trading day, investors need to pay attention to the changes of Initial Jobless Claims in US . 

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 December 29, 2022 Beijing time.

Intraday Oscillation Range: 1780-1801-1817-1833

Overall Large Oscillation Range: 1730-1756-1780-1803-1817-1833

Spot gold in the subsequent period, 1780-1803-1817-1833 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 December 29. 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

Overall Large Oscillation Range: 20.6-21.5-22.3-23.1-23.9-24.5-25.3

Spot silver in the subsequent period, 22.3-23.1-23.9-24.5 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 December 29. 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 December 29. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.0470-1.0580-1.0645

Overall Large Oscillation Range: 1.0290-1.0360-1.0470-1.0580-1.0645-1.0755

EURUSD in the subsequent period,1.0470-1.0580-1.0645 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 December 29. 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 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 December 29. This policy is a daytime policy. Please pay attention to the policy release time.