Good evening to one and all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Another day and another choppy drop in EURUSD.
I am still labelling this new low as wave ‘b’ of ‘ii’.
Although that expanded flat correction pattern is getting stretched now.
Wave ‘b’ hit 1.0707 at the low this afternoon,
but the internal action of that decline has so much overlap within it that I can’t view it as a new impulsive pattern at all.
I am looking for wave ‘c’ to turn higher in five waves tomorrow to confirm this pattern.

Tomorrow;
I have dropped the target level for wave ‘c’ to 1.0830.
Lets see if the action can get that far.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable also managed a new low today in wave ‘i’ of (iii).
I do expect this market to turn higher into wave ‘ii’ pretty soon though.
This new decline off the wave (ii) high is welcome,
but I do want to see a lower high consolidation in wave ‘ii’ before beginning wave ‘iii’ of (iii).

Tomorrow;
Watch for wave ‘ii’ to begin a trace out a three wave correction higher into the 1.2400 handle again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have updated the pattern in USDJPY to show a different interpretation of the rally into wave [iii] green,
I am now showing this extended rally as wave (iii) of [iii].
And there is a very well formed five wave pattern almost complete in wave (iii).
I would like to see a little more upside in wave ‘v’ pink before looking for wave (iii) to top out.
Tomorrow should be enough time to sort that out.
And then next week I can look for wave (iv) to begin.

Tomorrow;
Watch for wave ‘v’ pink to close out and in the area of 141.00.
If we get there I will be happy to turn my attention to wave (iv).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Not a whole lot to report today,
but it does look like the market has found a low in wave ‘1’ of ‘iii’ at the session low.

The action today is definitely corrective in nature and there is an attempt to turn higher,
although very little progress was made into wave ‘2’.

I am looking for a correction back above 33000 again min wave ‘2’ over the next few days.
And if that does happen,
then the market will be setup perfectly for a sharp a acceleration lower into wave ‘3’ of ‘iii’.

Tomorrow;
Watch for wave ‘2’ of ‘iii’ to trace out three waves up towards 33000 again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has finally broken below the lower support at wave ‘iv’ pink today.
That level lies at 1949,
and now that the price has broken that level,
I can rule out any possibility of an extended rally as part of the previous structure in wave ‘1’.

Gold has now reached below support,
and the next support level in the previous pattern lies down at 1805.
I don’t think wave [a] of ‘2’ will reach that low,
but we will see.

I have switched to the alternate count for wave [a] tonight also.
this involves a three wave pattern in wave [a].
and the current decline is viewed as wave (a) of [a].

Tomorrow;
Watch for wave ‘c’ of (a) to complete a three wave decline into the 1920 area.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude turned lower quite sharply today off that wave ‘b’ top.
The pattern in wave (b) that I am working with here is an expanded flat.
wave ‘b’ made a new high above wave (a) blue.
and now wave ‘c’ should break below the wave ‘a’ low at 69.34.
Wave ‘c’ of (b) is expected to trace out five waves down to that target area over the next few days.

Tomorrow;
Although the pattern has made good progress today there is more work to do here to confirm this pattern in wave (b).
Watch for wave ‘c’ to continue towards that 69.00 handle over the next few sessions.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have moved up the degree of this corrective move higher today,
and now the wave count shows wave ‘i’ and ‘ii’ complete at the top this evening.

The pattern is still viewed as an impulse waves off the top at wave [ii].
But we need to see another move lower into wave ‘iii’ very soon to favor this idea here.
And I am still looking for a break of 4045 at wave ‘iv’ to confirm this reversal pattern.

Tomorrow;
Watch for wave ‘iii’ of (i) to turn lower again tomorrow.
a break of 4100 again will signal wave ‘1’ of ‘iii’ is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Something different is going on in Silver than I was previously looking at.
I was under the impression that wave [b] had already started.
But the continued decline has invalidated that idea.
I am now showing a larger wave (v) decline to complete wave [a].
Wave (v) should be done here as I can see a full five wave pattern into todays lows.
In this scenario I am still looking for wave [b] to turn higher in three waves.
And that correction higher can begin tomorrow if the new count is correct.

Tomorrow;
Watch for wave (v) of [a] to show signs that it is done.
Wave [b] should turn higher and I am looking at the 24.00 level again to complete that rally.