Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I have switched to that alternate count for wave (iv) this evening.
While this weeks low can be viewed as the final low for wave [v] and ‘C’,
I just don’t think the the pattern into that low,
or the rally out of it has the correct form.

Wave (iv) is now tracing out an expanded flat correction higher.
And I suspect we will see a reversal lower soon in wave (v) of [v] again.

Tomorrow;
Watch for wave (iv) and (v) to complete near the 1.1500 handle again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have switched to that alternate count for wave ‘2’ today.
The pattern for wave ‘2’ is best viewed on the 4hr chart.
This involves a rally now forming in wave [c] of ‘2’.
And this rally will complete with a break of 1.3983 again.

Tomorrow;
Watch for wave [c] to continue higher over the coming days.
Wave (iii) of [c] may well be getting started now,
and I am looking for a sharp rally into the 1.3850 area in five waves to confirm this count.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Are we there yet…..maybe!

The price made one more attempt at the upper trend line today and then gave up.
this may well be the top for wave (v) now,
or at least close by a matter of pips!

We have a throw over which is topping, in place above the larger trend line now.
And a three wave pattern in place for wave ‘B’,
and a five wave pattern in place for wave [c].
The counts a full here.
What we need now is a reversal pattern off the top.

Tomorrow;
Watch for a decline in wave [i] to fall into the previous fourth wave area at about 110.00 over the coming days.
A will be watching for wave (i) of [i] to fall in five waves tomorrow.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It seems as if wave ‘ii’ is working out an expanded flat correction today.
the price made a new low for the week,
but that came off a three wave decline.
So we will likely see wave ‘ii’ hit a top above 34600 again by tomorrow evening.
And that will complete the correction in wave ‘ii’ again.

Tomorrow;
Watch for wave ‘ii’ to complete an expanded flat correction at 34600.
Wave ‘iii’ down will be confirmed with a break of 34000 again.
Overall I am looking for wave (i) down to complete with a break of 33600 again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Well it seems like gold now wants to rally again and this time we are looking at a possible third wave up in play,.
I will admit,
I am not fully convinced that wave (ii) is actually done here.
The pattern within wave (iii) is very tight and quite hard to read to be honest.
Add to that the fact that wave (ii) also looks awkward to say the least.
But I cant deny that the rally today has the look of a third wave up as labelled in wave ‘iii’.
I think the price will have to hold above 1777 now for this bullish count to remain valid.

Tomorrow;
Watch for 1777 to hold at wave ‘i’ of (iii).
A break of that level will suggest wave (iii) is back on the cards again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude made a new low today for this correction in wave [ii],
but I think now we can call this a correction off the highs at least.
So now I am looking at a possible extension in wave ‘5’ to trace out five waves up again.
The invalidation line for this count lies at the wave ‘4’ low at 74.76.
If wave [ii] is now done,
then wave [iii] up is probably ready to go after todays spike higher.

Tomorrow;
Watch for wave [ii] to hold at 78.90.
wave [iii] up will be confirmed with a break of the wave [i] high again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays action looks corrective to the upside so far.
The price is tracing out a small flat correction into the upper trend channel line today.
I am still looking for confirmation that wave ‘i’ of (iii) is underway,
but I’m afraid that todays action has not achieved that yet.
I want to see an impulsive decline fall into the wave (i) low this week.
And if that happens,
the bearish count will be in a stronger place.

Tomorrow;
Watch for wave (ii) to hold at 4430.
Wave ‘i’ of (iii) should continue lower to complete a five wave pattern off the wave (ii) high.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I have shown the alternate count here for wave (ii) as a large expanded flat correction.
While todays rally possible to read as wave ‘i’,
I am aware that the rally came off the back of the cpi report.
I don’t like that type of cause and effect rally as they seem to disappear as quick as the arrive.
So It is a case of lets wait and see if the upward trajectory of the price action continues here.
Wave ‘ii’ will probably fall off back towards 22.70 again when it completes.
So there may be a decline coming in both scenarios.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to complete another higher low above 22.32 by Friday evening.