Good evening to one and all, and God bless you all.

lets get into it.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

If you take a look at the daily and the 4hr chart you will see that I have switched to the alternate count for wave [B] this evening.
Wave [B] has been viewed as a developing triangle for the last few years.
And I had expected the price range to continue to go sideways for another few months in wave (D) and (E) to close out that pattern.

The relentless rally over the last few weeks has continue to push the bounds of that triangle pattern,
and now this evening I have finally succumbed to that pattern.

Of course that pattern change now suggests wave [B] will be over much earlier than I previously thought.
Wave [C] down will begin within the next month,
and it should be a brutal decline for the euro over the next year.

Wave (C) of [B] is now labelled as a five wave pattern with the target for a top at the previous wave (A) high at 1.2556.

On the 4hr chart you can see that wave ‘5’ of (C) is already nearing the end of its run higher this week.

And on the 1hr chart you can see wave [iii] [iv] and [v] of ‘5’.

Tomorrow;
Wave [iv] is labelled as a triangle at the moment,
it is still too early to tell if that is correct or if we will see a larger pattern develop.
As long as the low at 1.2189 holds – then the triangle holds.

As for wave [v],
a three wave correction to a higher low above 1.2190 will signal wave [v] is underway.
And then we can expect a rally to continue over the coming week or so in wave [v].

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is creating a small corrective move higher today within wave ‘i’ of (c).
A further drop and recovery should occur in wave ‘i’ and ‘ii’ before dropping in wave ‘iii’ of (c) next week.
That will complete three waves down in wave [a].
and then wave [b] will retrace higher again the following week.

The action will be pretty messy as wave [a] and [b] complete,
wave [c] of ‘D’ to the downside will be where the clean pattern should develop.
and that will provide the best trading opportunity I expect.

Tomorrow;
Watch for 1.3622 to hold again at the wave ‘C’ high.
A move below 1.3303 will signal wave ‘iii’ has begun.
But I think we will be dealing with wave a lower high in wave ‘ii’ for tomorrow at least.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is dropping quite reluctantly it seems today!
Wave ‘c’ of (ii) is moving lower and should hit the wave ‘a’ low at 103.28 before turning higher into wave (iii) again.

Tomorrow;
Watch for wave (ii) to complete with a break of 103.28,
and that will create a possible bullish higher low and line up for a rally into wave (iii).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We are back to another ending diagonal scenario for wave [v] tonight after the drop off today.

The market failed to create a five wave pattern higher in wave (iii).
And now we are left with a three wave pattern into the highs of last night,
which puts the diagonal pattern back on the table for wave [v].

Todays decline is labelled wave ‘a’ of (iv),
in this case wave (iv) is shown as a three wave flat pattern.
we will see soon enough how wave (iv) actually develops.

Tomorrow;
Watch for wave ‘b’ of (iv) to push higher again to a double top.

Wave (iv) must hold above 29840 to remain valid.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has not added any thing of significance to the pattern today.
The market has basically stalled at in the 1870’s area.
I suspect this is a corrective move within wave ‘iii’ down.
And as long as the price holds below 1900,
the I expect wave (c) to continue lower over the next few sessions.

Tomorrow;
Watch for wave ‘iii’ down to resume tomorrow and break 1854.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has again created a small lower high in wave ‘ii’ pink today.
The pattern suggests a drop into wave ‘iii’ of (iii) can begin tomorrow.
if the price holds below 48.37 tonight,
then we should see a drop tomorrow back below 46.26 again to begin wave (iii) down.

Tomorrow;
Watch for the wave ‘ii’ lower high to hold and wave ‘iii’ of (iii) to push lower early tomorrow.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am watching 3710 as short term support here which should indicate if wave (v) is still in force or not.

Wave ‘c’ of (v) should trace out a five wave pattern,
and so far we have a three wave move into todays highs.
If 3710 holds,
then wave ‘c’ will move up to the upper trend line again and complete five wave up.
and that will in turn complete a three wave move higher in wave (v) of [v].

Tomorrow;
We are getting very close to filling out this current pattern in wave [v] green as an expanding diagonal.

Watch for wave ‘c’ to top out at about 3760 at the upper trend channel line again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver put in another tight and choppy trade today.
The market has remained stuck below 26.78 at the wave ‘2’ high so far,
and as ling as that level holds,
we should expect a decline into wave ‘3’ to begin any day now.

Tomorrow;
The decline so far to begin wave ‘3’ is not ideal.
but if we break 25.40 again that should be enough to indicate wave ‘3’ has begun.