Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Just to put a nail in the coffin of the previous count,
the price broke below the 1.1523 low at wave (iii) today.
This now confirms wave (v) is underway,
the question is,
what pattern is wave (v) actually developing?

I am noticing a wedge in the price action this week.
as we are working lower the price is converging,
if this pattern holds then we are closer to the end of wave (v) than previously thought.

Monday;
Watch for wave ‘v’ of (v) to drop again and break 1.1500 again to complete the pattern.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has completed five waves down today.
Wave [i] did not break the wave [b] low at 1.3411,
that was not a deal breaker but it would have been a nice cherry on top to confirm this pattern.
The spike higher this afternoon is viewed as the beginning of wave [ii].
I expect wave [ii] will push up towards the price area of the previous fourth wave above 1.3600 again.

Monday;
Wave (a) of [ii] should trace out at least three waves up early next week.
The price should hold above todays low for wave [ii] to remain valid.

wave [iii] of ‘3’ down is not set to begin next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Just to make things awkward for me here,
USDJPY has broken out of the triangle pattern for wave (iv) today.
The most likely pattern now is a combination wave (iv) with a triangle wave ‘b’ internally.

Monday;
Wave ‘c’ of (iv) should complete in the area of 112.70 again.
This is where wave ‘c’ will reach equality with wave ‘a’.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Another opportunity to finish this wave ‘v’ of (v) today with that spike out of the jobs numbers.
The price seems to have formed a triangle in wave ‘iv’ yesterday,
and the pattern finished with a spike in wave ‘v’ today.
This is a neat pattern,
but there is no way of confirming this until we get an impulsive reversal off that high.
I am keeping an eye on the wave (iv) low at 35500 to signal a reversal.

Monday;
I will be looking for a signal next week that wave [v] green is actually complete as a five wave rally off that 33850 low at wave [iv].
A strong impulsive decline will favor this count,
so that is what I will look for.
roll on next week!

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Its been a solid day for gold today with a break above that initial resistance at 1813 again.
This action is a vote in favor of the bullish count,
but I still cannot rule out the bearish count yet.
That will happen with a break of 1835 again.
That level marks the wave [i] high,
and a break of that level will rule out the possible triangle in wave ‘B’ that I have been harping on about all this week!

So far so good here,
but we need more positive action next week to get this bull run in wave [iii] underway.

Monday;
WAtch for a possible three wave correction to a higher low in wave ‘ii’ early next week.
Then a rally in wave ‘iii’ of (iii) of [iii] is on the cards.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude rebounded today and has retraced much of the spike decline in wave [c] of ‘4’.
The pattern calls for a five wave rally in wave ‘5’ now with a minimum target at 85.00 again.
This high marks the wave ‘3’ high.

Monday;
Watch for wave ‘4’ to hold at 77.70.
Wave ‘5’ must continue higher for next week and trace out a clear five wave pattern.
85.00 is the minimum target,
but wave ‘5’ could fill that channel and carry higher into the 89.00 level again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Wave ‘v’ of (v) is now extended into todays high and the price almost hit the upper trend channel line also.
We have a small reversal off the highs this evening,
but that was to be expected after a ‘news rally’.
We will see soon enough if that reversal can build into anything interesting next week.
As I mentioned in the video,
the 4hr chart has a completed five wave pattern now in place for wave [v].
Wave (v) of [v] broke above the upper trend line of the channel and created a throw over.
There is clear divergence also in momentum in place again.
At this point the aim is to either confirm or rule out this count.
If it is correct,
then the market will top soon and turn lower in an impulsive manner.
And we should see a break of the previous wave (iv) at 4270 with the initial move lower.

Monday;
Watch for wave (v) to top out next week.
I am looking for a nice reversal pattern to build next week to signal a top is in place.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is looking positive here also.
The price has bounced off a possible wave ‘ii’ low today,
so at the moment we have a ‘i’ ‘ii’ pattern in play here.
Wave ‘iii’ of (i) should push above 24.50 again early next week.
And the price must hold above 23.60 at the wave ‘ii’ low.

Monday;
Next week should bring a complete wave (i) up as shown.
It is possible that wave (i) will hit the 25.00 handle again if this short term count holds up.