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CMS Daily Market Report 28th October 2022

Gold could not cross the resistance range of 1668 on Thursday and is now in the range of 1658. The price position in the 4-hour chart shows the weakness of buyers in this range and the entry of sellers.

After five consecutive days of upward movement, the euro fell more than 1% on Thursday and formed a bearish engulfing candle at the end of the day. Currently, according to the price position in the 4-hour chart, selling in the range of 0.99890 is a low-risk option, and there is a possibility of continuing the downward movement towards the range of 0.98700.

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