MHMarkets：The U.S. dollar weakened during the day, while non-U.S. currencies and precious metals were horizontal in a small range and U.S. crude oil continued to strengthen!

Market Overview

On Monday (August 28), spot gold fluctuated narrowly during the Asian session and is currently trading around $1916.13 per ounce. U.S. dollar index and U.S. bond yields fell slightly, providing support for gold prices, and concerns about the global economic recession also provided safe haven support for gold prices.

From a technical point of view, gold prices hold above the 200-day average and there is still a chance for further rebound in the short term.

U.S. crude traded near $80.18 per barrel; oil prices climbed by over 1% last Friday, reaching a week high due to a sharp rise in US diesel prices, a decrease in the number of active oil drilling rigs and a fire at a Louisiana refinery.

There is less economic data this trading day, but this week there are the US PCE and non-farm payrolls report for August. The market expects a slight rebound in US PCE inflation, but new non farm employment may still slightly decrease to 168,000 people. Overall expectations are slightly in favor of gold prices, so investors need to pay attention to changes in market expectations.

It should be reminded that on Friday, the market on the Fed's expectations for another interest rate hike within the year has warmed up after Fed Chairman Powell's speech, so investors still need to beware of the possibility of gold prices to return to the downtrend.

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 August 28, Beijing time.

Intraday Oscillation Range: 1889-1903-1919-1929-1937-1951-1960

Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1919-1929-1937-1951-1960-1977-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100

In the subsequent period of spot gold, 1889-1903-1919-1929-1937-1951-1960 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 August 28. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 23.1-23.9-24.5-25.3-26.1

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, 23.1-23.9-24.5-25.3-26.1 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 August 28. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 75.1-77.9-78.5-79.9-80.7-82.3-83.5

Overall Oscillation Range: 62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1-90.7

In the subsequent period of crude oil, 75.1-77.9-78.5-79.9-80.7-82.3-83.5 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 August 28. 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: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303-1.13340

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 August 28. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 1.2400-1.2470-1.25460-1.26505-1.27000

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, 1.2400-1.2470-1.25460-1.26505-1.27000 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 August 28. This policy is a daytime policy. Please pay attention to the policy release time.