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CMS Daily Market Report 20th October 2022

According to the analysis, in the early hours of Thursday gold decreased to the range of 1622. Now, according to the price position in the 4-hour chart, the downward movement has stopped in the support area of 1622 and there is a possibility of price correction towards the area of 1644.

In yesterday’s report, we warned about selling in the resistance range of 0.98700. According to the analysis, the currency pair stopped at the ceiling of the descending channel on Wednesday and ended the day down 0.87%.

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