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– based on Realtime Forex
Pair's Outlook
As it was stated yesterday, all what the FOMC announcement achieved was a movement of gold price fluctuation by 20 US dollars northwards. On Friday morning, the yellow metal continues to fluctuate around the 1,340 level, as there is no clear direction for it. By 5:00 GMT the metal was volatile between 1,328.50 and 1,343.80, and it was trading at 1,336.20. However, the fluctuation might be explained by the fact that the bullion is located exactly below the weekly R1 at 1,336.44, against which it struggles every time a direction starts to form.
Traders' Sentiment
SWFX traders have become neutral on the yellow metal, as 50% of open positions were long on Friday morning. In the meantime, pending orders in the 100-pip range were 64% long.
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