EURUSD drops lower
The euro retreated against the dollar as today’s Midterm Elections look set to throw up some surprises.
- After testing 1.1200, prices now turn their attention to the recent low at 1.1120.
- A break below this region would signal bears are in full force as the pair continues lower.
- Traders will await the next signal to see if buying will pick up again, and 1.1260 is the first hurdle to lift.
XAUUSD picks up the pace
Gold received a slight boost as prices creep up towards the psychological resistance of 4000.
- The recent low at 3870, at the base of the latest bounce, is an important level to sustain the bullish thrust.
- A break at this critical support will force buyers to abandon ship.
- 4000 is a vital target to maintain the rally, and its breach could trigger a move towards 4075.
GER 40 looks for fresh high
The Dax spiked higher by testing 26000.
- A bounce off 25700 has put sellers on the defensive, as 26150 has turned into a fresh resistance.
- A further drive could see a few more points added to the index.
- As the RSI ticks higher, prices could become vulnerable to a correction below 25500.
