Mai hui MHmarkets: July 3, 2023-MHM European Perspective

Market Overview

Spot gold oscillated narrowly during the Asian session on Monday (July 3) and is currently trading near $1917.06 per ounce. Weaker-than-expected US economic data on Friday cast some doubt on the potential aggressiveness of the Fed's fight against inflation, and the dollar weakened sharply, helping gold prices rebound from around the 1900 mark. Technically there are some short term bottoming signals and there are opportunities for further rebound in gold prices in the short term. However, the market still generally expects the Fed to raise interest rates again in July, which still makes the bulls wary.

U.S. crude oil traded near $70.37 per barrel; oil prices closed higher on Friday, which was the third straight session of gains, but the quarterly line fell for the fourth straight quarter. Investors are concerned that sluggish global economic activity could depress fuel demand, and falling U.S. oil inventories provided some support for oil prices.

This trading day due to July 4 for the U.S. Independence Day Memorial Day, the U.S. stock market closed early, it is expected that the New York session trading may be some restrictions. However, the US June ISM manufacturing PMI data will be released during the day, investors still need to focus on. In addition, investors need to pay attention to the final value of the June manufacturing PMI data in Europe and the United States.

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 July 3, Beijing time.

Intraday Oscillation Range:   1873-1889-1903-1911-1929-1937-1951

Overall Oscillation Range:   1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1960-1978-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100

In   the subsequent period of spot gold, 1873-1889-1903-1911-1929-1937-1951 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 July 3. 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: 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 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 July 3. This policy is a daytime   policy. Please pay attention to the policy release time.

Intraday   Oscillation Range: 67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1

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, 67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1   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 July 3. 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 July 3. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation Range:   1.2470-1.25460-1.26505-1.27000-1.28200

Overall Oscillation Range:   1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.25460-1.26505-1.27000-1.28200-1.29300-1.30000-1.30600

In   the subsequent period of GBPUSD, 1.2470-1.25460-1.26505-1.27000-1.28200 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 July 3. This policy is a daytime policy.   Please pay attention to the policy release time.