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Gold Markets Pause a Bit Ahead of FOMC

From dailyforex.com

During the trading session on Tuesday, gold markets fell slightly, pulling back from the psychologically significant $2000 level. While this is an area that many traders are keeping an eye on, it is not surprising that the gold market may slow down with the upcoming FOMC meeting on Wednesday. It is essential to keep in mind that the gold market had been overbought, and even in a bullish trend, occasional pullbacks are necessary to attract more traders. Despite forming a red candlestick, many individuals are looking to get involved in gold, so if it becomes cheaper, a lot of “fear of missing out” (FOMO) trading could ... (full story)

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  • Category: Technical Analysis