Silver and Gold Under Pressure Bearish

SILVER Where Will Mobile Today?


Finally silver gained considerable bearish pressure seen in chart 1 hour late. Preference today, the price would still bearish move with a potential open SELL position. Technically, the stochastic indicator is in potentially oversold condition.
Note that if the price of silver broke through the 14.70 support is likely price will move down towards the next support at around 14:50. But if silver prices move up and stuck around strong resistance area in the range of 14.87 then look for confirmation signals where there is a potential selling price will move down towards resistance at around 14.70.
Beware if the price of silver rose against the dollar to penetrate resistance at 14.87 that there is likely price will move up towards the next resistance at around 15:06 and expect intraday bias will turn to bullish.

Graphic movement XAG / USD TF 1 Hour
Preferences: bearish, note the support 14.70 and resistance at 14.87
Support: 14.70, 14:50
Resistance: 14.87, 15:06



Note EMAS Try Translucent Resistance


Bias daily gold price at 1 hourly chart looks bearish and are in a condition when the price is consolidating. Technically, the stochastic indicator is in potentially oversold condition. Preference price today, will still be bearish move with a potential open SELL position.
Note, if the price of gold rose against the dollar and penetrated resistance at 1128.42 that there is likely price will move up to continue the bullish movement towards the next resistance at 1135.57 range.
On the other hand if the price of gold remains stuck around strong resistance at 1128.42 then look for a confirmed sell signal in the area where there is potential price will move down towards the next support at 1121.47 1115.25 range.

Graphic movement XAU / USD TF 1 Hour
Preferences: bearish, note the resistance 1128.42
Support: 1121.47, 1115.25
Resistance: 1128.42, 1135.37

1000 pips Off EURAUD

Nice week, made over 1000 pips off EURAUD using simple supply and Demand with price action and confluence. Video coming soon. Next week should be interesting waiting to see how the market reacts to the Fed interest rate decision

EURUSD Analysis

EURUSD Daily 

The EURUSD is also in the 4th wave of a downtrend. Expecting the EURUSD to fall over the coming days completing the 5 wave down swing. 

EURUSD True Wave Count

Eurusd 1hr

Here we have an extended 1st wave. Expecting the Eurusd to rally to around 1.0793 before falling.
Key level to watch is 1.0675 if prices fall back below 1.0675 expect lower prices

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EURUSD Analysis

EURUSD 1HR

EURUSD has completed a 5 wave down move and is in a strong downtrend following the hawkish tone of the Fed interested rate statement, which boost sentiments of a possible rate hike in December.

Expecting the EURUSD to rally to around 1.1195 which represents the 50 Fibonacci level of the 5 wave down move before falling. The 1.1177 level represents a possible C extension of the recent AB price swing, hence the 1.117-1.119 is a key price area to watch for price action. However a key resistance level to watch is the 1.1100 level, if prices fail to close above this level expect lower prices