Free Trade Ideas

Welcome to Election Day trade! The markets are off and running on what could be a historic U.S. midterm election. At press time, stocks are mixed, commodities are down, and the USD is flat. In other words, it’s the calm before the storm. Today’s headline news event is the US midterm elections. The betting odds and polling data all suggest that the Democrats will win control of Congress, carrying both the House of Representatives and the Senate. As of this writing, Polymarket is assigning a 95% chance of the Dems taking the House and a 78% chance of victory in the Senate. Of course, no one really knows the election’s outcome for certain. We’ll cover the latest developments today live at 1:00 PM EST on the Switch Markets YouTube channel. See you there!
2026 has been a bearish year for gold. The Iran War has sparked inflation, boosting bond yields and the USD. These have been bearish market drivers for bullion; prices are closing in on 3900, off yearly highs north of 5500. Here is a key level to watch in XAUUSD:
Last Month’s Low: 3870.24
Check out our Key Levels for more information on this XAUUSD Trade Idea. On the economic front, JOLTS Job Openings for September hit the newswires during the early NYC session. JOLTS came in at 7.523 million, well above the Wall Street consensus of 7.150 million. This is a strong figure…is it a preview of Friday’s US Non-Farm Payrolls report? We’ll find out Friday on our NFP Live broadcast. (8:20 AM EST, Friday, Switch Markets on YouTube)
That’s all for now. Trade well, and enjoy the Election Day action!