Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well there is exactly nothing to add to the EURUSD count tonight!
It was a quiet day all round,
with very little action to go on.
There is a few ways to view the latest decline,
but at this moment, the ending diagonal fits best with the action.
We might see a series of waves lower next week which would shift wave (v) to a standard five wave pattern.
In both cases, I think this is it for the declines in EURUSD in general,
this pair is very oversold now and needs a corrective release to the upside soon.

Monday;
Watch for wave ‘iv’ and ‘v’ to step lower once more to complete a possible ending diagonal pattern towards 1.14.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A very small move higher today may be the first hint that wave [ii] is finally beginning.
The price has not gone far enough to confirm wave (a) of [ii],
but if the low at 1.3353 holds on Monday that will favor the wave [ii] idea.
The initial target for that correction lies at the previous fourth wave at 1.3608.
That level is just above the 50% retracement level.

Monday;
Watch for wave (a) of [ii] to hold above 1.3353 and continue higher to signal wave [ii] has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is close to completing an expanded flat correction today.
The for is correct off the wave ‘i’ high,
we will have to wait and see if wave ‘ii’ has hit its final low yet,
a 50% retracement of wave ‘i’ will bring the price down to 113.44.
So there is room to fill if that general target is to be hit!

Monday;
Watch for wave ‘ii’ to complete a higher low above 112.71.
Wave ‘iii’ of (v) up should begin by Tuesday evening at the latest.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Market reached the upper end of the target band at 35900 yesterday and that was the end of the decline!
The price has basically flatlined today,
so I think it is reasonable to suggest that wave ‘iv’ is now done,
with wave (v) left to begin early next week.
There is not enough action yet to call wave (v) underway,
but in general the decline is corrective looking off the top so we can expect a rally to begin soon.

Monday;
A five wave rally in wave (v) should not take more than a week to complete.
So we may be in a position to see a top in wave (v) for next week.
The trend channel surrounding wave [v] will be filled in the area of 37000,
but the minimum target for wave (v) lies at the wave (iii) high at 36563.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has come back today to form a double top with wave ‘i’ again.
the pattern into todays high is in three waves,
so there is every chance that this is a corrective recovery in wave ‘ii’.
wave ‘ii’ should finish with another decline to complete three waves down on Monday.

Monday;
Watch for the wave ‘ii’ to complete a three wave pattern with a drop back into the 1830 area again.
In this scenario we will see a rally begin in wave ‘iii’ of (iii) next week.
I would be much happier with this setup if we see that decline into 1830 as suggested.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has held above the wave ‘4’ low at 77.70 again today,
and the price has held within the rising trend channel also.
This action favors the count for wave ‘5’.
And in this scenario we should see a rally in wave [iii] of ‘5’ begin next week.

The only spanner in the works here is the fact that wave [ii] has not got a very clear internal pattern.
The small spike off todays higher low may be a start to wave (i) of [iii],
but we will need more upside on Monday to confirm this.

Monday;
Watch for wave (i) of [iii] to push higher in five waves to signal wave [iii] has begun.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The pattern higher today is still in three waves so it is not clear that wave ‘v’ has begun yet.
We do have enough done in wave ‘iv’ at this point to consider it complete,
but I will have to wait and see of the rise continues on Monday.
Even if we do see a little more downside in wave ‘iv’ before turning higher into wave ‘v’,
the aim remains the same now.
I want a final five up to complete the overall pattern in wave (v) blue.
and then I can look to the downside again.

Monday;
4631 should hold at wave ‘iv’.
Watch for wave ‘v’ up to begin with a break above 4720 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The action today in silver opens up another possibility for the count in wave (i) up.
It now seems like we have an extension in wave ‘iii’ of (i).
And the vertical spike higher earlier this week is a third of a third acceleration.
and now todays rally is in wave ‘v’ of (i).
I am still expecting a reasonable correction in wave (ii) to begin next week once wee complete this pattern in wave (i).

Monday;
Watch for wave ‘v’ of (i) to top out and then a three wave correction in wave (ii) should begin.
Wave (ii) should hit at least 24.50 with a lower end target at 24.00 flat.