Mai hui MHmarkets: July 21, 2023-MHM European Perspective

Market Overview

On Friday (July 21), spot gold narrow range shock during the Asian session, and is currently trading in the vicinity of $1969.84 per ounce. There were no important economic data and risk events during the day, the market trading is relatively cautious, most investors have begun to wait for next week's Fed interest rate resolution.

Due to the overnight release of the US initial jobless claims lower than market expectations, the dollar index rebounded to a one-week high, short-term bullish signals increase, the gold price is not favorable; gold prices on Thursday on the strong resistance level back down, the short-term risk of an increase in the top, investors need to beware of further downside risk of gold prices in the short term. However, in the medium term, the Fed is close to the end of the interest rate hike cycle is expected to provide support for gold prices.

On this trading day, investors need to focus on the market's expected changes in the Fed's interest rate resolution next week, and pay attention to relevant news on the geopolitical situation.

U.S. crude shook higher and is currently trading near $76.35 per barrel as China's oil imports jumped nearly 50% year-on-year in June. The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) said that Chinese demand is expected to continue to grow in the second half of this year and will remain the main driver of global growth. In addition, previous declines in U.S. crude oil inventories and continued Russian airstrikes on Ukrainian ports also provided support for oil prices.

At present, the morale of short-term bulls has increased, and there is an opportunity for oil prices to fluctuate and rise.

This trading day, investors need to pay attention to the changes in US crude oil drilling data and the related news about geopolitical situation in Russia and Ukraine.

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 21, Beijing time.

Intraday Oscillation Range: 23.9-24.5-25.3-26.1-26.6

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, 23.9-24.5-25.3-26.1-26.6 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 21. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1951-1960-1978-1985-1998-2007-2016

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, 1951-1960-1978-1985-1998-2007-2016can 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 21. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 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, 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 July 21. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 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, 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 July 21. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.0830-1.0950-1.1157-1.1220-1.1303

Overall Oscillation Range: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303-1.13340

In the subsequent period of EURUSD, 1.0830-1.0950-1.1157-1.1220-1.1303can 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 21. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.27000-1.28200-1.29300-1.30000-1.30600

Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.25460-1.26505-1.27000-1.28200-1.29300-1.30000-1.30600-1.31000-1.31660-132000

In the subsequent period of GBPUSD, 1.27000-1.28200-1.29300-1.30000-1.30600 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 21. This policy is a daytime policy. Please pay attention to the policy release time.