Market Overview
Spot gold oscillated slightly higher during the Asian and European sessions on Thursday (March 23) and is currently trading near $1976.64 per ounce. The Federal Reserve raised interest rates by 25 basis points as expected, but hinted at an imminent pause in further rate hikes in light of the recent turmoil in the financial sector. The dollar index fell to a new low of nearly one and a half months, which gavegold prices upward momentum.
In addition, U.S. Treasury Secretary Yellen's speech also provided safe-haven support to gold prices. Yellen told lawmakers on Wednesday that she had not considered or discussed providing “comprehensive insurance” to U.S. bank deposits without congressional approval to stop the turmoil caused by the collapse of two prominent banks this month.
U.S. oil traded near $70.10 per barrel; oil prices extended their rally to a one-week high on Wednesday. The dollar fell to a six-week low and oil prices were boosted after the Federal Reserve raised interest rates slightly as expected, while hinting at an imminent pause in further rate hikes; OPEC+ will still stick to its original production cut plan amid concerns over the banking crisis, and also push oil prices higher.
This trading day needs to focus on the Bank of England interest rate resolution, the change in U.S. Initial Jobless Claims, and the U.S. February seasonally adjusted annualized New Home Sales. Watch for further market interpretations of the Fed's interest rate resolution and news related to the banking sector in Europe and the US.
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 23, 2023, Beijing time.
Intraday Oscillation Range: 1929-1937-1951-1978-1985-1998
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, 1929-1937-1951-1978-1985-1998 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 23. 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 23. 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 onMarch23.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 23.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 23. This policy is a daytime policy. Please pay attention to the policy release time.
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