Good evening folks and I pray GOD’s Blessings on you all tonight.

Here is the midweek video update recorded earlier.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD finally moves lower tonight in a possible wave ‘iii’ of (c) pattern.
The price has just broken below the wave ‘i’ low at 1.1809 as I write.
Wave ‘iii’ must now continue lower and break 1.1750 to confirm the larger wave count in wave (c).
This level marks the minimum target for wave (c),
although I do expect wave (c) to push down to the lower trend channel line in the area of 1.1600 before completing.

Tomorrow;
Watch for wave ‘iii’ to continue lower into 1.1750 at a minimum.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable seems to have completed three waves up in wave (a) of [b] this afternoon.
the price reached a high at 1.3008 and so far the price is dropping off that high again.

Wave (b) should fall in three waves again from this point and I expect it will complete above 1.2760 at the wave [a] low.

Tomorrow;
Watch for wave (b) to drop from here in three waves to form a higher low.
An acceleration lower to break 1.2760 will signal wave [c] has already begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

It seems as if wave ‘iii’ of (iii) down is now coming to a close tonight.
If this pattern holds,
the price should correct overnight in wave ‘iv’
and then move lower again tomorrow in wave ‘v’ to complete the larger wave (iii) possibly by tomorrow evening.

Tomorrow;
watch for wave (iii) to complete at about 104.50 before correcting higher in wave (iv).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The dow spiked higher this afternoon to hit the 50% retracement level of wave [i].
and then we saw a reversal begin off that high.
If the short term count is correct,
that means we have a bearish signal in place off the high.
And now we should expect wave [iii] down to begin over the coming days.

Tomorrow;
Wave [iii] should begin with a further lower high labelled waves (i) and (ii).
Watch for wave (i) to fall towards 27450 over the coming days.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has been skimming along the 1970 level this week without a break higher.
Todays action saw another attempt to break that level but again we see a failure this evening.

At this point the triangle is still in play,
but wave ‘c’ has extended to show an ending diagonal.

Tomorrow;
This evenings decline is another candidate for wave (i) of [c].
If the price falls into initial support at 1905 again that will signal wave [c] is underway.
Watch for todays highs to hold again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil put in a surprising rally this evening as part of wave (c) of [ii].
Wave (c) does have a clear five wave pattern now in place,
so we should see wave [ii] come to an end now and a reversal begin into wave [iii] down.

Wave [ii] has reached up above the 50% retracement level now,
so we are in a perfect area for a reversal to happen.

Tomorrow;
Watch for wave (c) of [ii] to come to a halt and wave (i) of [ii] to begin.

Wave [ii] looks stretched now,
so I want to see a sharp pike lower to begin wave (i) of [iii] down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The wedge pattern in wave ‘c’ came to an abrupt halt tonight as we see another spike lower come in.
Wave ‘c’ did meet the minimum target today by just breaching the wave ‘a’ high.
So we now have a completed three wave correction higher in place in wave (ii).
If the short term count is correct,
todays action completed a bearish impulse wave at a lower high
And now we should expect a third wave decline to begin.

Tomorrow;
watch for wave ‘i’ of (iii) to push lower towards 3350.
Wave ‘ii’ should create a further lower high before the week is out.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is not playing ball yet after another day of very tight action.
the price is still holding below the recent wave ‘2’ high,
but wave [iii] of ‘3’ must now fall persistently over the coming few days to confirm the wave count.
Until we get a break of wave ‘1’ at 25.83,
only then can we confirm the wave count.

Tomorrow;
As longs as the recent high holds at 27.63,
then this wave count is valid.

Watch for wave [iii] fo ‘3’ down to get underway.