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June 17, 2021

How to Trade the Latest FOMC News

Frank Cabibi

6/17/2021

USD/CAD Analysis 
UC did end up switching to bullish momentum after FOMC statements announced two rate hikes before 2023. The pair came up to hit resistance around 1.23412. Lots of support levels below could help out in this new bull run for UC as we can expect further bullishness on the USD.
Gold Analysis 
Gold sinks to the abyss after the fed announcement that points to a stronger dollar. Big support around $1758 could cause a potential rebound, however, it seems unlikely now that we have a fundamental reason for gold to turn bearish. 
SPX500 Analysis 
SPX500 rises off support on its 200 SMA on the 4H chart. The thought of rising interest rates is not a good sign for investors in the stock market, but the market is shrugging fears this morning, and that is likely because the Fed is still doing asset purchasing.

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