Good evening to you all, and may the Lord bless you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Waiting for this pair to drop is like pulling teeth!
long and painful!

There is still a reasonable pattern developing in wave ‘ii’ pink this evening.
A three wave move with a triangle in the center,
and a lower high again below the wave (iv) high at 1.1386.
So,
as long as that wave (iv) high holds at 1.1386 then I can expect wave ‘iii’ down to begin on Monday.
If that level breaks,
then I will have to go back to the drawing board again!

Monday;
It is critical that wave (iv) holds at 1.1386 holds and wave ‘iii’ now begins.
A break of the wave ‘i’ low at 1.1271 will signal wave ‘iii’ has begun.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

It is getting very close again for cable this evening.
A break of that high at 1.3598 will simply prolong the pattern in wave [ii].
I do believe that cable is completing a bearish lower high here even if that level is broken.
I will just have to wait for this pattern to clear up a little in order to confirm wave [iii] is underway again.

Monday;
Watch for wave ‘ii’ of (i) to hold below 1.3598.
wave ‘iii’ down should fall again on Monday and then find support in the area of 1.3375.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The correction in wave (iv) is beefing up a bit now and that does suit the overall pattern in wave ‘3’ really.
Now wave (ii) and (iv) are beginning to get relatively equal in size.

I am looking at a possible triangle in wave ‘b’ of (iv) today.
And the drop out of that triangle is wave ‘c’ of (iv).
Wave ‘c’ will find support near the previous fourth wave low at 115.00 if it even gets that low.

Monday;
Wave (iv) should complete that corrective pattern
and then rally should begin again into wave (v) of [v] of ‘3’.
Wave ‘3’ should complete by the end of next week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It is beginning to look like wave (iv) has now found a low at the level of the previous fourth wave low.
Wave (v) is set to begin early next week,
and the minimum target for wave (v) of [v] lies at the all time high at wave (iii).
Once I see a five wave pattern complete in wave [v],
then I will begin looking for a topping pattern again off that high.
All going well,
we will see a top form next week and maybe even an impulse wave lower before the end of the week.

Monday;
Watch for wave (v) to turn higher and then rally for at least Monday and part of Tuesday.
A close of the trend channel in wave (v) will be another signal that this wave has completed.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The fact that we have a three wave decline into todays low does open up another possibility here.
I have updated the alternate count to show this idea.

This alternate involves a larger wave ‘D’ red,
and todays three wave low can be viewed as wave [b] of ‘D’.
A rally back above 1831 in wave [c] of ‘D’ will trigger this count.

As for the main count.
I have shown a possible ‘i’ ‘ii’ impulse wave still underway.
Wave ‘ii’ should complete early on Monday,
and then return lower again into wave ‘iii’ by the end of Mondays session.

Monday;
the key level lies at 1831 for the short term count.
Watch for wave ‘iii’ of (iii) to fall back below 1751 again by midweek.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has pushed back into the upper trend channel line again today in wave ‘C’ of (2).
The pattern in wave (2) is still very clearly a three wave correction higher even with this weeks extension of the pattern.
And with that I am expecting to see a reversal pattern begin next week in wave [i] of ‘1’ of (3).
This pattern does call for a large decline into wave (3) to begin soon.
So next weeks action will be key to confirming the count and setting the stage for how far the next decline can go.

Tomorrow;
Watch for wave [i] of ‘1’ to fall back in five waves next week and complete in the area of the previous wave [iv] again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has flatlined for the last few sessions and this can be explained as an ongoing wave ‘ii’ correction to form a lower high.
I know that this is a speculative pattern here,
but you have to admit that the decline this week is pretty impulsive looking.
If wave ‘ii’ is now underway,
then it is tracing out an expanded flat correction.
In this case we will see a spike back to 4730 on Monday to complete that pattern.
and then the rest of the week should be dominated by a decline in wave ‘iii’.
Wave ‘iii’ should fall into the 4500 level again if I am correct here!

So next week promises to be an interesting one if this pattern holds.

Monday;
Watch for wave ‘ii’ to complete on Monday and form a corrective lower high.
Wave ‘iii’ down should begin by Monday evening.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is holding above the 22.00 handle for the last two sessions,
but this pattern that is emerging is flat and corrective so far.
I am viewing this pattern as wave ‘ii’ of (iii) at the moment.
And wave ‘iii’ of (iii)is still expected to begin on Monday.
A break below 21.40 is the minimum target for wave ‘iii’.
Once that happens,
this pattern can make quick progress towards that 18.00 target area over the coming weeks.

Tomorrow;
Watch for wave ‘iii’ of (iii) to continue lower and and break 21.40 to confirm the new pattern.