Gold and Silver Drop. The Same Happens With EM Currencies

Gold is in a correction mode aiming to test the 1836 USD/oz as a crucial support.

Silver also dropped but here the price is still inside the flag formation.

The DAX bounced off an important horizontal support. Covid fears in Europe have accelerated.

The EURNZD is defending an important horizontal support with a head and shoulders pattern. The buy signal is still not here, we need to see the breakout of the neckline first.

The EURUSD is struggling to defend the 61.8% Fibonacci, especially after the price failed to stay above the psychological barrier of 1.14.

The EURPLN went vertical after the price broke from the ascending triangle to the upside.

The USDMXN could do the same as the EURPLN, the price is testing the upper line of the triangle as we speak.

The EURMXN is defending a crucial support inside of the giant wedge pattern. Soon we should see a decisive movement here.

For a look at all of today’s economic events, check out our economic calendar.