Market Overview
During the Asian session on Friday (March 24), spot gold oscillated narrowly and is currently trading near $1990.30 per ounce. The impact of the Fed's dovish rate hike has receded and the turmoil in the banking sector in Europe and the United States has eased, with long and short wait-and-see sentiment building. Although the dollar bottomed out overnight to make some of the bulls have concerns, gold prices are still expected to have a chance to shock higher after the market. Because of the medium and long term, the market is generally expected to global central banks have entered the end of the interest rate hike cycle, the year to cut interest rates is expected to heat up, U.S. bond yields continue to weaken, and gold's safe-haven demand will also support gold prices.
This trading day will see the March PMI data from Europe and the United States, investors need to pay attention to it. Focus on the U.S. monthly rate of February durable goods orders, the market is expected to rise 0.6% from the previous year. In addition, the Fed officials' speeches also need to follow.
U.S. oil traded near $69.32 per barrel; oil prices closed lower Thursday, reversing an earlier rally. This came after U.S. Energy Secretary Granholm told lawmakers that refilling the country's Strategic Petroleum Reserve (SPR) could take years, fueling concerns about a potential supply glut. But the geopolitical situation and expectations of a pause in interest rate hikes by the Federal Reserve and gains in U.S. stocks limited oil price declines.
Intraday focus on the revised monthly rate of U.S. February construction permits, the preliminary of U.S. March Markit manufacturing PMI, and the preliminary monthly rate of U.S. February durable goods orders.
Mohicans Markets 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 March 24, 2023, Beijing time.
Intraday Oscillation Range: 1951-1978-1985-1998-2007-2016
Overall Oscillation Range:1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985-1998-2007-2016
In the subsequent period of spot gold, 1951-1978-1985-1998-2007-2016 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 onMarch 24. 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
In the subsequent period of spot silver,21.5-22.3-23.1-23.9can 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 onMarch 24. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range:64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3
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
In the subsequent period of US crude oil,64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3can 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 onMarch24.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,1.0690-1.0755-1.0830-1.0950-1.1157can 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 onMarch 24.This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range:1.2030-1.2135-1.2250-1.2375-1.2400-1.2470
Overall Oscillation Range:1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550
In the subsequent period of GBPUSD,1.2030-1.2135-1.2250-1.2375-1.2400-1.2470can 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 onMarch 24. This policy is a daytime policy. Please pay attention to the policy release time.
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