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Daily Market Analysis 05.10.2022: GOLD

Instrument: GOLD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1716.17 with take profit at  1720.15
Bearish Preference: 
Sell position is envisaged if price trades below 1701.60 with take profit at 1697.84
Fundamentals:
1:15pm USD ADP Non-Farm Employment Change
3:00pm USD ISM Services PMI   

Comment: 
The dollar rose on Wednesday, a day after suffering its biggest one-day drop in more than two years, as the excitement of the previous day’s rally in stocks and risk friendlier currencies wore off.

Analysis: SCRUM Team

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