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.
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