Mohicans markets：MHM European Market

Market Overview

On Tuesday, February 21, the spot gold fell slightly in the Asian session, and the current trading price is around $1838.20 per ounce. Although there were bargain-hunting and safe-haven buying to support the gold price, the market was worried that the Federal Reserve would raise interest rates to a higher terminal interest rate. The relatively strong dollar kept the gold price under pressure.

US crude oil weakened in shock, and is currently trading at around $76.50 per barrel. The expectation of a higher terminal interest rate of the Federal Reserve and the expectation of maintaining a higher interest rate level for a longer period of time have intensified the market's concern about the economic recession and depressed the expectation of crude oil demand. The relatively strong dollar also put pressure on oil prices.

In addition, Russia's marine crude oil shipments have seen a significant increase before the world's third-largest oil producer is about to cut production. According to the data, in the week ending February 17, Russia's marine crude oil shipments rose to 3.6 million barrels per day, which was the highest level in more than a month, and was up 26% from the previous week. India's crude oil imports from Russia climbed to 1.4 million barrels per day in January, which was a record high and was up 9.2% from December. This has exacerbated the market's concern about oversupply.

This trading day will also usher in the PMI data of European and American countries in February. The market generally expects that the data will be better than the performance in January, which may reduce the market's concern about the global economic recession, and may weaken the hedging demand for gold, which makes the gold price face further downside risks in the short term. However, if the European data is strong, the short-term correction pressure of the US dollar is also relatively high, and if the US dollar starts the correction, it is expected to provide some support for the gold price.

In addition, the US financial market is closed on Monday and the minutes of the Federal Reserve meeting will be held on Wednesday. The market is in a strong wait-and-see mood and may limit trading.

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 21, 2023, Beijing time.

Intraday Oscillation Range: 1801-1817-1833-1856-1873

Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985

In the subsequent period of spot gold, 1801-1817-1833-1856-1873 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 21. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 20.6-21.5-22.3-23.1

Overall Oscillation Range: 19.7-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1

In the subsequent period of spot silver, 20.6-21.5-22.3-23.1 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 February 21. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 75.1-77.9-78.5-79.9-80.7

Overall Oscillation Range: 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

In the subsequent period of US crude oil, 75.1-77.9-78.5-79.9-80.7 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 21 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

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

Intraday Oscillation Range: 1.1830-1.1920-1.2030-1.2135-1.2250

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, 1.1830-1.1920-1.2030-1.2135-1.2250 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 21. This policy is a daytime policy. Please pay attention to the policy release time.