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CMS Daily Market Report 3rd November 2022

 

Gold rallied to the 1669 range on Wednesday but is now in the 1636 range as sellers pressure it. The technical position of the price in the 4-hour chart shows that the sellers are ready to cross the support area of 1622 and decrease the price towards the area of 1576.

According to the analysis, the currency pair decreased by 0.59% in the previous day and is now in the range of 0.98160 . According to the price position in the 4-hour chart, any price increase towards the 0.98750 range is a selling opportunity, and the way to continue the downward movement towards the 0.96800 range is available.

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