FOMC Meeting Coming

Well it was a small range day today. The reason is that many traders and analysts are waiting for the FOMC meeting, which is a two day event and day 1 starts on WEDNESDAY. It is good not to pre-empt the market here, even though we are still in this bullish channel (see chart below). The reason is because sometimes with these FOMC meetings we can be in for a couple of slow days on the market.

The results of the FOMC meeting come out at about 11 am, and then there is a press conference that normally follows straight after. We will see what these criminals decide to do in regards to the economy then.

Happy trading :-)

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