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CMS Daily Market Report 25th October 2022

 

The euro fell to the 0.98070 range on the first day of the week, but closed at the 0.98736 range at the end of the day. According to the price position in the 4-hour chart, the currency pair has crossed the range of the resistance trend line; On the other hand, according to the price position in the daily chart, the currency pair is now in the ceiling of the descending channel.

On Monday, the pound failed to cross the resistance range of 1.1380 and stopped in this range for several consecutive days  On the other hand, according to the upward movement of the currency pair last week, the range of 1.1170 is the most important leading support range and the possible reaction of buyers in this range is important.

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