Good evening to one and all.

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

Take note of the last time this big ramp in interbank rates happened, yeah its that time again!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD extended lower today in wave ‘5’ of ‘i’.
And now the wave ‘i’ decline has retraced most of the previous wave ‘c’ rally.
That will happen with a break of 1.0713.
This is a much more satisfactory target for this initial reversal into wave (c) to hit.
And now I think this wave count is pretty much confirmed now.

Tomorrow;
Watch for wave ‘i’ to complete at or near the 1.0713 low.
wave ‘ii’ should begin soon and correct higher in three waves towards 1.09 again next week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has turned lower again today and the running flat idea for wave ‘ii’ is now confirmed.
This initial decline into wave ‘iii’ of (i) has completed a small five wave drop off wave ‘ii’ in wave ‘1’ of ‘iii’.
Wave ‘iii’ should trace out five waves down from here.
And if wave ‘iii’ reaches 100% of wave ‘i’ that gives a target for wave ‘iii’ at 1.2270 .

Tomorrow;
This pattern suggests wave ‘iii’ will continue lower for the next few sessions and find a low in the 1.22 area early next week.
Wave (i) down should be complete by midweek.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Well,
I have to eat my hat here tonight because the action this week has triggered the alternate coun t again.
It seems that wave ‘3’ red is now underway after the price broke out to a new high above wave [i] green again today.
you can see this on the 4hr chart.

The hourly chart shows a five wave rally underway off the wave [ii] lows.
This is labelled wave (i) of [iii] of ‘3’.
And if this count is correct,
then we have a long way up to go to get to that wave ‘3’ top.
I’m talking a summer rally to beat the band.
It’s early days yet though, so we will see.

Tomorrow;
Watch for wave ‘iii’ of (i) to top out and then we should see a consolidation in wave ‘iv’ by tomorrow evening.
Five waves up in wave (i) should be complete by midweek next week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is holding flat today after a choppy session in all.
But I am sticking with the idea that this action is all within wave ‘c’ of ‘ii’.
in this scenario,
todays choppy trade is probably a fourth wave correction in wave ‘c’ of ‘ii’.
And I can still suggest a top for wave ‘c’ in the area of 33780.
If wave ‘ii’ completes a running flat correction,
then wave ‘c’ of ‘ii’ will top out and reverse below that target.

Tomorrow;
The market has recovered off the lows of the session this evening so I suspect wave ‘c’ is now making its final rally towards the target area.
Watch for this rally to complete wave ‘ii’ by tomorrow evening.
We might even see the beginning of wave ‘iii’ down by the end of the day.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has extended the decline into wave ‘3’ of ‘iii’ today and the pattern is taking on a more impulsive look at last.
The price has also reached the lower support at 1949 again also.
This level marks the previous fourth wave low at wave ‘iv’ pink.
And as usual,
the more supports that break as this decline builds,
the more sure we can be that the larger decline into wave ‘2’ is actually underway now.
A lot done,
more to do though!

Tomorrow;
Watch for wave ‘iii’ of (i) to complete a five wave pattern with a clear break below 1949 again.
The wave count suggests wave ‘4’ and ‘5’ of ‘iii’ are yet to complete.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has retreated from the invalidation line at 73.80 again today,
so this bearish count gets a stay of execution for the moment.
I can concentrate on the wave ‘iii’ down idea for the moment.
If wave ‘iii’ of (i) is now underway,
then we should see a sharp decline next week towards the 67.00 handle again.
This count will be confirmed with a break below the wave ‘i’ low at 69.34 again.
So the main count is still in a precarious state even after todays decline.
Until we get a break below wave ‘i’ at least.

Tomorrow;
Watch for wave ‘iii’ down to continue in five waves.
Todays session high at 73.28 should hold from now on.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Ok,
this rally is done now!

WAve ‘5’ of ‘v’ has now completed a five wave internal pattern itself at todays highs.
The long sideways slog off the wave ‘iii’ high has now been broken.
And the larger wave (c) rally has also complete five waves up.
A top is imminent here I suspect.
And I would not be surprised to see a complete reversal of this rally tomorrow even.
The pattern in wave (c) of [ii] is very mature at this point.
And I am reasonably sure that the wave ‘iv’ low at 4045 will be broken with the initial reversal off the highs.
It would be good to see that reversal begin tomorrow to be honest,
but I will have to wait and see.

Tomorrow;
Watch for wave ‘5’ of ‘v’ of (c) of [ii] to show signs of a top again.
The first break of 4106 again will be enough to turn the tide on this one I think.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The pattern in silver has dropped enough now to consider the whole of wave [a] complete at todays lows.
The internal pattern of wave (V) is not ideal,
but it is possible that an ending diagonal pattern in wave (v) explains the very choppy nature of the last drop.
Wave [b[ is expected to begin soon now,
and I am suggesting that wave (a) of [ii] will rise into the wave (iv) high at 24.20 again next week.
When that happens,
that will confirm wave [b] is underway.

Tomorrow;
Watch for wave (a) of [b] to rise off this low towards 24.20 over the next few sessions.
Wave [b] has an initial target at the 50% retracement level at 24.70.