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

Here is the weekend update for all.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

It looks like the correction in wave ‘iv’ is complete this evening.
Wave ‘v’ of (iii) is expected to drop again on Monday.
that brings us one step closer to completing this wave [v] green,
and in turn wave ‘C’ of (D) also.
I am going out on a limb here but I suspect we will see wave (D) of the triangle complete by the end of next week.

Monday;
watch for a series of small fourth and fifth waves to close out and complete wave (D) of the long running triangle.
We should then expect a larger three wave rally to begin in wave (E) over the coming weeks.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

As I said in the video earlier,
I am not sure this correction higher is actually the beginning of wave (ii) yet,
there count be another step lower into wave ‘v’ first before turning higher into wave (ii) next week.
that is a matter for Mondays trade though.
And the moment there is a small higher low in place and that does fit with a rise into wave (ii).

Monday;
Watch for the low at 1.3358 to hold and wave ‘c’ of (ii) to rally back towards 1.3525.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is now turning off the high at wave [b] this evening.
Three waves up is complete at todays highs.
and now I expect wave [c] to begin and trace out five waves down into wave [c] of ‘4’ next week.
At a minimum wave [c] should break below 113.40,
with a lower end target at about 112.50 give or take a few pips!

Monday;
Watch for wave [c] to continue lower and trace out five waves down next week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The pattern over the last few sessions can easily be interpreted as a triangle in wave (iv) as shown.
that is now the alternate count.
In that scenario wave (v) of [i] will fall again into the middle of next week.
And then wave [ii] will turn higher to target that recurring 35000 level again in three waves.

Now,
if the main count is correct here,
then we will see a drop into wave (i) of [iii] next week.
wave [iii] itself has the potential to drop into the 30000 level again before correcting into a fourth wave.
So there is still a real danger here to the downside.

Monday;
Both interpretations call for one more step lower in wither wave (i) of [iii],
or wave (v) of [i].

Watch for break below 33500 again to begin wave (i) of [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave [a] of ‘E’ should be complete after todays further spike to the downside.
The price has now dropped to the initial target area that I had for the overall wave ‘E’!
So I would expect at least a small reaction higher next week after such a sharp drop in a few short sessions.
WAve (a) of [b] should begin early next week and if we see a rise back above the 1800 level again I think that will be enough to call wave [b] underway.

Monday;
Watch for wave [b] to turn higher off this support level.
Three waves up is what I’m looking for to begin wave [b].

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has again failed to hold above the 88.00 level after two attempts in the last few days.
I am expecting todays failure to now begin a three wave decline into wave [a] of ‘4’ next week.
Three waves down with a break for 85.00 again will be enough to call wave ‘4’ underway.

Monday;
Watch for wave (b) to form a lower high before a sharp drop into wave (c) by midweek.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays action is very close to confirming that triangle in wave (iv) now.
The pattern has developed beautifully into todays lower high.
and now all we need is a five wave decline in wave (v) to complete the larger wave [i] down as shown.

Monday;
Wave (iv) should be done as I write.
If we see a drop below 4270 again that will break the lower bounds of the triangle pattern,
and that should confirm wave (v) has begun.

A rally above 4427 again will invalidate the triangle wave (iv) pattern.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking for a possible low in wave ‘v’ of (v) of [i] at todays lows.
The drop in wave (v) is very extended now,
and we are now close to hitting that previous wave [b] low at 21.93 again.
That fact alone should be enough to cause a rebound.
If we see a rally back above 22.80 again that will signal wave (a) of [ii] is in play.
And I am looking for wave [ii] to complete a right shoulder in the area of 23.40 again.

Monday;
Watch for wave (a) of [ii] to reverse higher and trace out at least three waves up to break 22.80.