May 25, 2023-MHM European Perspective

Market Overview

Spot gold was slightly lower during the Asian session on Thursday (May 25), currently trading around $1,955.68 per ounce. The U.S. economy remains resilient causing traders to cut bets on a series of interest rate cuts this year, and the U.S. dollar index continues to strengthen, refreshing more than two-month highs; U.S. bond yields also remain strong, weighing significantly on gold prices. Although concerns about debt default remain, the support provided to gold prices is effective, as the market is still widely expected to reach a last-minute agreement.

U.S. crude oil is slightly weaker, and is currently trading near $74.07 per barrel. Rating agency Fitch put the U.S. credit rating on watch for a possible downgrade on Wednesday, adding to jitters in global markets and weighing on oil prices. However, with EIA data showing a sharp drop in U.S. crude inventories last week, the U.S. also coming off a high summer demand, and Saudi Arabia's previous warning that short sellers will continue to feel the pain, oil prices remain biased long in the aftermarket.

Investors need to pay close attention to further news on the U.S. debt ceiling negotiations. In addition, this trading day, investors need to pay attention to the change in the U.S. initial jobless claims and watch for revisions to the U.S. GDP series for the first quarter. Keep an eye on speeches by Fed officials and watch for changes in market expectations for the April PCE data (to be released on Friday).

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 May 25, Beijing time.

Intraday Oscillation Range:   1929-1937-1951-1978-1985-1998-2007

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, 1929-1937-1951-1978-1985-1998-2007 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 May 25. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation   Range: 21.5-22.3-23.1-23.9-24.5

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, 21.5-22.3-23.1-23.9-24.5 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 May 25. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday   Oscillation Range: 71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9

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 Crude Oil, 71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9   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 May 25. 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 May 25. 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 May 25. This policy is a daytime policy.   Please pay attention to the policy release time.