MHMarkets ：MHM European Market

Market Overview 

On Thursday (April 20), spot gold shock slightly down during the Asian session and is currently trading near $1992.25 per ounce. A number of Fed officials have signaled further interest rate hikes this week, with Fed “number three” and New York Fed President Williams highlighting signals for further rate hikes on Thursday morning. Market expectations for the Fed to reduce interest rates during the year has cooled and continue to provide support to the dollar U.S. bond yields, which put pressure on gold prices.

U.S. crude oil traded near $78.84 per barrel; oil prices retreated more than 2% to a two-week low on Wednesday, despite a sharp decline in U.S. crude inventories, but gasoline stocks unexpectedly jumped due to disappointing demand dragged down oil prices; and a stronger dollar, the market fears that the Fed's looming interest rate hike may dampen demand.

Inflation remains high in countries like the Eurozone and the UK. Market expectations for further interest rate hikes in the Eurozone and the Bank of England have risen, also making gold bulls wary as central bank rate hikes will increase the opportunity cost of holding gold.

Technically, the 5-day SMA crossed below the 10-day SMA to form a dead cross at the daily level. Short-term bearish signals have strengthened and may further probe support near the 1,960 handle.

This trading day needs to focus on the U.S. initial jobless claims and the U.S. annualized home sales total for March. Watch for speeches from Fed Governor Waller, Fed Governor Bowman, Cleveland Fed President Meister, and Atlanta Fed President Bostic.

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 April 20, Beijing time.

Intraday Oscillation Range: 1951-1978-1985-1998-2007-2016-2033

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, 1951-1978-1985-1998-2007-2016-2033 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 April 20. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 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, 23.9-24.5-25.3-26.1 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 April 20. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 77.9-78.5-79.9-80.7-82.3-83.5

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 spot silver, 77.9-78.5-79.9-80.7-82.3-83.5 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 April 20. This policy is a daytime policy. Please pay attention to the policy release time.

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

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, 1.0690-1.0755-1.0830-1.0950-1.1157 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 April 20. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.2250-1.2375-1.2400-1.2470-1.2550

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, 1.2250-1.2375-1.2400-1.2470-1.2550 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 April 20. This policy is a daytime policy. Please pay attention to the policy release time.