Bon soir mes amis,

May you the LORD Bless you tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The price dropped today without reaching that initial target for wave (c) of [iv] at 1.1895.
This does raise a little concern regarding the final pattern for wave [iv] as we may be moving towards a larger structure than what I am counting here.
I will have to wait and see on that front.

For now we can call wave [iv] complete as a running flat correction.
And wave [v] down is now underway.
wave (i) of [v] should trace out five waves down and then a correction to a lower high in wave (ii).

Tomorrow;
watch for wave (i) down to complete with a drop below 1.1781 at a minimum.

A break above 1.1880 again will signal wave [iv] is tracing out a larger pattern.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable completed wave [ii] yesterday and is now moving lower into wave (i) of [iii].
The price moved sharply lower today and so far the action looks impulsive to the downside.
Wave ‘ii’ and ‘ii’ may even be complete as I write.
Wave ‘iii’ of (i) should fall into the 1.3730 area again.
Ideally wave (i) should complete with a break of that level before any correction higher begins in wave (ii).

Tomorrow;
Watch for wave (i) to continue lower in five waves.
Wave [ii] should hold now at 1.3905.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave [ii] has pipped above the 50% retracement level in wave [ii] today and the price is now entering into a corrective shoulder within wave [i] this evening.
I am looking for wave [ii] to complete now,
but I cant rule out a further rally overnight.

Once wave [ii] does complete
we should see a decline that breaks below the wave [i] low at 109.52 again.
Then we can call wave [iii] underway.

Tomorrow;
111.65 must hold.
And wave (i) of [iii] will be confirmed with a break of 109.52.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A flat trade today after a five wave rally to that new all time high yesterday.
This action suggests wave ‘ii’ of (iii) is now underway.
Wave ‘ii’ should complete tomorrow and then we can look fir a rally in wave ‘iii’ of (iii) of [v] to begin.
The price is resting above the previous wave (i) high now.
So I wonder if wave ‘iii’ will be a very shallow correction?
We will see early tomorrow.

Tomorrow;
Watch for a break of 35030 again to signal wave ‘iii’ of (iii) has begun.
There is support at 34660 which may form a low for wave ‘ii’.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is holding solid this week just below that 1818 high.
The price has failed to drop into wave (iii) down so far,
so I will have to review this count tomorrow and consider a larger correction in wave [iv] green,
or maybe even a switch to the bullish alternate.
If 1818 holds again and we see a break of 1790 again that will signal wave ‘i’ of (iii) is underway.

Tomorrow;
Watch for wave ‘i’ down to continue lower tomorrow and break 1794 at a minimum.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is fast ruling out the alternate count here.
The price spiked higher today in a possible wave (iii) of [iii] of ‘5’.
Wave [iii] should trace out five waves up and I am looking at wave [iii] to top out at 76.40 again at the recent high.

Tomorrow;
Watch for the low of this session to hold at 73.18.
Wave (iii) up should now hold above 74.18 at the wave (i) high.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is stagnant today and holding within the wedge pattern for another day.
This corrective action is viewed as wave ‘b’ of ‘v’ of (v).
and I suspect we wave ‘b’ will fall into the 4340 area at the lower trend line again.
And then wave ‘c’ of ‘v’ will push higher again alter in the week.

Tomorrow;
Watch for 4288 to hold for this pattern to remain valid.
Wave ‘b’ of ‘v’ may fall a little further into 4340 to complete.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is surely acting strangely quiet over this last week.
The short term pattern is still holding for now as a wedge lower and a corrective three wave rally into that declining trend line.
And the price is falling again today,
so at the moment we are looking at the possibility of wave ‘iii’ of (v) breaking below 25.50 again to confirm the pattern and continue lower towards that final low in wave (C) of [2].

Tomorrow;
25.50 is key in the short term pattern.
A break of that level will confirm wave ‘iii’ down.
and that can easily fall into 24.60.

Watch for a break of 25.74 to signal wave ‘iii’ down has begun.