Mohicans markets：MHM European Market

Market Overview

On Monday, February 6, during the Asian session, spot gold shock rebound and is currently trading near $ 1877 per ounce. The performance of last Friday's U.S. non-farm payrolls data was strong, ISM non-manufacturing PMI was also very beautiful, and the dollar index rose sharply; gold prices weakened sharply, and once fell to near the 1860 mark on Monday, but gold prices were down nearly $100 in just two trading days because of the short term decline; some shorts took profits after holding the 1860 mark; in view of the Russia-Ukraine geopolitical tensions, the situation in the major countries also appear “disagreement”, and some buy on the dips re-enter, which gives gold prices to provide rebound momentum.

However, the current market expectations for the Fed to cut interest rates during the year has been significantly cooled, and gold initially peaked last week; if gold prices can not quickly recover the 1900 mark, gold prices after the market still have further downside risk.

There are few U.S. economic data on the trading day, so we need to focus on the market's further interpretation of non-farm data and the changes in the market's expectation of the Federal Reserve's monetary policy; This week, we will also focus on the speeches of many Fed officials, including Fed Chairman Powell.

U.S. crude oil rebounded slightly and is currently trading near $73.50 per barrel. U.S. crude oil fell 3% on Friday as jitters about major economies overshadowed signs of a recovery in Chinese demand, after strong U.S. jobs data raised concerns that the Federal Reserve will continue to raise interest rates and a global recession, which in turn boosted the dollar and depressed oil prices. But the International Energy Agency (IEA) Administrator Birol (Fatih Birol) on Sunday stressed that China's recovery is still the main driver of oil prices, which has attracted some buy on the dips to support oil prices.

The IEA expects about half of the growth in global oil demand this year to come from China, where Mr Birol said demand for jet fuel was exploding.

Saudi Energy Minister Prince Abdulaziz warned on Saturday that sanctions and insufficient investment in the energy sector could lead to a shortage of energy supply.

Goldman Sachs Group said oil prices will climb back above $100 per barrel this year and could face serious supply problems in 2024 as spare capacity is used up.

In addition, data from early Saturday morning Beijing time showed a sharp drop in US oil drilling to 599 Wells from 609, which was a new low since late September. That suggests some downside risk to U.S. crude production and could provide some opportunity for oil prices to rebound.

However, the technical picture of the oil market is clearly clearly bearish in the short term, and we still need to be wary of the possibility of a short-term oil price rally being blocked.

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 February 6, 2023, Beijing time.

Intraday Oscillation Range: 1833-1856-1883-1900

Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1883-1903-1911-1929-1937-1951-1978-1985

In the subsequent period of spot gold, 1833-1856-1883-1900 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 February 6. 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

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, 21.5-22.3-23.1-23.9 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 February 6. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 73.1-73.8-75.1-77.9

Overall Oscillation Range:

70.1-71.2-72.3-73.1-73.8-75.1-77.9-79.9-80.7-82.3-83.5-85.3

In the subsequent period of US crude oil, 73.1-73.8-75.1-77.9 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 February 6. 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:1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303

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 February 6. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.1920-1.2030-1.2135-1.2250-1.2375

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, 1.1920-1.2030-1.2135-1.2250-1.2375 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 February 6. This policy is a daytime policy. Please pay attention to the policy release time.