Mohicans markets：MHM European Market

Market Overview

On Monday, January 30, spot gold fluctuated in a narrow range in Asia, and is currently trading at $1930/ounce. Last week, spot gold closed 0.1% higher, achieving the sixth consecutive week of rise, which is the longest consecutive rise since the gold price hit $2075.47 in the summer of 2020. But the question is, because analysts believe that profit taking is inevitable in the short term, can gold maintain its rise？

So far in 2023, the gold price has risen by more than 6%, making the best start since 2012. On January 26, the price of gold hit a 9-month high of $1949.06.

Sean Lusk, the co-director of Walsh Trading, said in an interview last Friday that with the release of important data, the market will take profits in the short term and the gold price will have a correction.

The most noteworthy event this week was the Federal Reserve's meeting on February 1, followed by the Federal Reserve Chairman Powell's press conference.

US oil was trading near $80.32/barrel; The oil price closed flat to fall on Friday, as the signs of strong Russian oil supply offset the hopes of better-than-expected economic growth data in the United States, strong margins of refining of medium distillates and rapid recovery of Chinese demand; The European Union failed to reach an agreement on the price ceiling of Russian refined oil at the weekend, and the geopolitical situation still supported the oil price.

Focus on the news related to the geopolitical situation throughout the day.

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 January 30th, 2023, Beijing time.

Intraday Oscillation Range: 1903-1911-1929-1937-1951

Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1883-1903-1911-1929-1937-1951-1977

In the subsequent period of spot gold, 1903-1911-1929-1937-1951 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 January 30. 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: 20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1

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 January 30. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 77.9-78.5-79.9-80.70-82.3-83.5

Overall Oscillation Range: 70.1-71.2-72.3-73.1-73.8-75.1-77.3-78.5-79.9-80.7-82.3-83.5-85.3

In the subsequent period of US crude oil, 77.9-78.5-79.9-80.70-82.3-83.5 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 January 30. 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

Overall Oscillation Range: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1060

In the subsequent period of EURUSD, 1.0690-1.0755-1.0830-1.0950 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 January 30. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.2030-1.2135-1.2250-1.2375-1.2400-1.2470

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

In the subsequent period of GBPUSD, 1.2030-1.2135-1.2250-1.2375-1.2400-1.2470 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 January 30. This policy is a daytime policy. Please pay attention to the policy release time.