Good evening folks.

I pray you are all well this evening.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave ‘B’ reached a final low at 1.1745 yesterday,
and today we have a move up off the low underway.
The price has traced out three waves up so far.
This may be just the initial moves higher into wave [i] of ‘C’.
So I want to see more upside tomorrow to confirm wave ‘C’ is underway.

Tomorrow;
Watch for a break of 1.1832 to signal wave ‘C’ is in force.
A drop below 1.1745 again will trigger the alternate count for wave (D).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is lower again today which is in line with the wave count for wave (i) down.
But the action is a little undecided yet to call an impulsive structure.
I would like to see a clear acceleration lower beginning tomorrow to confirm the turn into wave [c].
Also a break of 1.2937 will add weight to the idea.

Tomorrow;
Watch for wave (i) to continue lower and trace out a five wave pattern with a break of initial support.
It looks like we will have to wait until next week to see the big move into wave (iii) of [c].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Three waves up in wave ‘b’ yesterday,
is now followed by three waves down into wave ‘c’ so far today.
Wave ‘c’ should trace out a five wave pattern lower and complete below 104.80.
At that point we will have a bullish impulse wave complete off the lows at wave [B].
And then another chance for a real acceleration higher in USDJPY.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete and then push higher into wave (iii) next week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Wave ‘iv’ is now reaching the initial target for completion,
that is at the 28868 low created this week.

We are also nearing the invalidation line for this count at 28500.
A break of that level will trigger the first alternate count for wave [i] and [ii].
If the alternate count is triggered,
then wave [ii] will probably fall into the 28000 level again at the 50% retracement level.

Tomorrow;
Watch for wave ‘iv’ to complete above 28500 at the wave ‘i’ high.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave (c) of [ii] tracked higher today but the internal pattern is unclear just yet.
I would expect to see a five wave rally in wave (c),
and at least a break of the wave (a) high at 1890 to complete wave [ii].
The only scenario where wave (c) can complete below 1890 is in a running flat.
So we will have to wait and see on that front.

Tomorrow;
Watch for a break of 1890 at a minimum to complete wave (c).
I expect the price to hold above the lows at 1850 while wave [ii] is in force.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is heading lower again tonight after a pretty corrective days trade,
and there is a good possibility for a decline into wave (iii) of [i] now underway.
the overall aim for wave [i] green is to break the previous wave (b) low at 37.24,
and then form a bearish lower high early next week in wave [ii].

Tomorrow;
I would like to see wave (iii) of [i] fall below 39.50 again at wave (a).
A break of that level will increase the probability that we continue lower into wave [i].

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Wave (c) of [ii] is underway today after a pretty weak retracement higher in wave (b).
The price has not broken the wave (a) lows yet at 3515,
but that should happen pretty early tomorrow.
If wave (c) is now underway,
then we might even see a gap lower to begin the session tomorrow in wave ‘iii’ of (c).

Tomorrow;
Wave (c) is targeted to the 50% retracement level at 3455
The wave (b) high at 3580 should hold.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The triangle idea for wave [iv] is still holding in wave [iv] green.
And wave [v] should follow tomorrow with a break below 23.55 at a minimum.

The longer this corrective action goes on,
the more likely that this action is occurring in wave ‘2’ red,
rather than the fourth wave triangle that I have shown.
So it is important to see that wave [v] get underway tomorrow.

Tomorrow;
Watch for wave [iv] to close out overnight and then a drop into wave [v] begin early tomorrow.