Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

https://twitter.com/bullwavesreal

EURUSD.

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EURUSD daily.

Another step lower today may have completed wave ‘1’ of ‘i’ of (c).
That is the base case scenario here at least.
The price has not broken the initial support yet at 1.0830,
so there is no confirmation of this count just yet.
Wave ‘3’ of ‘i’ should slice down below that initial support by midweek.
And then I will look for a low in wave ‘i’ pink near the 1.0700 level again.

Tomorrow;
Watch for wave ‘1’ and ‘2’ to form a lower high below 1.1075 as shown.
Wave ‘3’ of ‘i’ is the real test of this reversal.
That wave should break support.
But we will have to see how this goes.

GBPUSD

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GBPUSD daily.

GBPUSD made an attempt to break the initial support at wave ‘iv’ today which is encouraging.
1.2342 is the level to watch to signal wave (i) of [c] is underway.

The drop off the recent high has traced out five waves down so far,
and I have labelled that as wave ‘i’ of (i).
So I expect to see wave ‘ii’ correct higher for tomorrow at least.
Then wave ‘iii’ of (i) should be the confirming move lower in wave [c].

Tomorrow;
Watch for wave ‘iii’ to correct higher but hold below 1.2546.
A wave ‘ii’ should form a bearish lower high by tomorrow evening.
And that will open the way up for wave (i) to continue lower for the rest of the week.

USDJPY.

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USDJPY daily.

Wave ‘i’ of (iii) has traced out five waves up off the wave (ii) low today,
also, the price has broken above the wave (i) high again.
The action is favoring the bullish count again now,
and we sould see a confirming rally into wave (iii) of [iii] later this week.

Now that wave ‘i’ has completed a five wave pattern higher,
I am expecting a correction into wave ‘ii’ beginning tomorrow.
That should complete near 133.00,
and then wave (iii) should take over in a few days.

Tomorrow;
Watch for wave ‘ii’ to form a bullish higher low to signal the acceleration higher is coming.

DOW JONES.

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DOW daily.

No major change today after a pretty flat trade.
The only positive that I can take here is that the market is still holding below last weeks highs,
and more importantly,
the wave [ii] high is holding again also.
I have waited for a while for this pattern to show a reversal off the wave (ii) top,
so I really want that to happen this week.

The pattern that has developed in wave (ii) here is a very good example of a well proportioned structure.
the Fibonacci relationships that emerged in the weekend video,
are really quite amazing when you think about it.
And of course the correction higher in wave (ii) has managed to completely disarm the population of all bearish attitudes again.
What can I say,
its a treat to watch!

But none of those facts will matter at all if this rally continues.
All I can do is wait to see if a reversal can build this week.

Tomorrow;
Watch for wave ‘i’ of (iii) to take over and break below the wave ‘a’ high at 32760 to confirm this pattern.

GOLD

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GOLD daily.

I have marked todays low as a possible wave ‘1’ of ‘a’.
and this bounce this evening should begin wave ‘2’ of ‘a’.
The top of wave (i) must hold from here on out as wave (ii) develops.
And I want to see a break of that wave ‘iv’ low at 1933 to confirm the pattern this week.

Tomorrow;
Watch for wave ‘a’ to continue lower over the next few days towards that 1930 target.
WAve ‘2’ must hold below the recent high for this count to remain valid.

CRUDE OIL.

CRUDE OIL 1hr.

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CRUDE OIL daily.

Crude did drop again without completing wave (v) as expected.
While there is a possibility that wave [c] of ‘2’ has already topped out,
I do think the decline looks corrective so far.
because of that corrective three wave decline,
today and I am suggesting the decline is wave (iv) blue,
and wave (v) is still left to complete a new high this week.

Tomorrow;
watch for wave (iv) to complete near the wave ‘iv’ low at 79.30.
wave (v) should then turn higher in five waves for the rest of the week.

If the current decline continues and completes five wave down off the high,
then I will consider the idea that wave ‘2’ is already complete.

S&P 500.

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S&P 500 daily.

The market is closing below Fridays high today so that does leave the door open to a reversal building this week.
I am looking for something big this week to really boost this wave count now.
At the moment,
this idea remains just an idea.

Even though I want to see the high at wave [ii] hold from here on.
The consequences for a break of that previous high at wave [ii] are not that high,
As the whole correction off last Octobers lows can be read as a combination correction instead of the current pattern.
In saying that,
I would still much prefer the decline into wave (iii) begin sooner rather than later.

So this weeks action is important in terms of the main wave count.

Tomorrow;
Watch for wave (ii) to hold below 4195.
Wave ‘i’ of (iii) should break support at 4040 as the initial signal wave ‘i’ is underway.

SILVER.

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SILVER 4hr.

SILVER daily.

It looks like we have three waves down in wave (a) close to completion here.
Silver stepped lower again today in another impulsive looking move.
the initial support at wave (iv) continues to hold,
Ideally,
wave (a) will break that 24.54 level,
and wave (b) will then form a bearish lower high later this week.

Tomorrow;
watch for wave (a) to complete its pattern with a break of 24.54.