Good evening to one and all, the Lord’s Blessings to you tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD seems to have turned a corner into wave ‘i’ today.
Its been a long wait,
but this move has the potential to reverse the recent rally.
Confirmation of wave ‘i’ has not happened yet,
I want to see a break of the wave ‘a’ high at 1.0780 to confirm wave ‘i’ of (iii).

Monday;
Watch for wave ‘i’ to break support at 1.0780.
Wave ‘ii’ should then form a bearish lower high off the top.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at this weeks action and I am still scratching my head to be honest.
this pattern should have dropped in a more impulsive manner at this stage.
So I am getting suspect of the main wave count now.

I will give the pattern another chance on Monday to prove itself with a sharp decline into wave ‘iii’ of (i).
Apart from that,
there is very little to say here.
This bearish pattern must come good early next week.

Monday;
Watch for wave ‘iii’ of (i) to fall back into support at 1.2545.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Do you remember the headline from a few weeks back shouting about the death of the USD??
It seems that fear has abated a little eh!

USDJPY made another leap higher today to complete wave ‘5’ of ‘iii’.
I suspect we will see a correction lower into wave ‘iv’ over the first half of next week.
I am looking at the previous high of wave ‘3’ at 142.20 as an initial target for wave ‘iv’.
then late next week I will turn my attention higher to wave ‘v’ of (v).

Monday;
Watch for wave ‘iii’ to top out and then reverse into wave ‘iv’ down as shown.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The decline off the recent top has finally broken below the initial support level at wave ‘4’.
I can’t call this a confirmation move for wave ‘i’ yet,
but its good to see a break of support to at least tip the balance of probability in favor of that wave ‘i’ down.
Only an acceleration lower into wave ‘i’ and a break of support at 32580 again will confirm the top in wave [i] and the beginning of a larger wave down.
But for the moment,
I am happy to continue working with this bearish scenario next week to see if the tide will finally change and wave ‘i’ of (i) will develop into a five wave decline.

Monday;
watch for a clear five wave decline to develop into wave ‘i’ down.
I want to see the price break below that initial support and hold below it early in the week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The action in gold is close to completing a bearish impulse wave with this lower high in wave ‘ii’ pink.
The high today reached up to Thursdays high and then spiked lower again.
It is possible that wave ‘ii’ is now complete at the high,
and wave ‘iii’ down has just begun.
We will see soon enough if wave ‘iii’ down will accelerate lower early next week.
If we see a break below 1900 again that should be enough to confirm wave ‘iii’ of (c).

Monday;
Watch for wave (c) to continue lower in five waves throughout next week.
Wave ‘iii’ of (c) should fall into the 1860 area to complete.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude hit the target for wave ‘i’ this week,
and now we are looking for a correction higher in three waves in wave ‘ii’ early next week.
The spike rally off todays lows is labelled wave ‘a’ of ‘c’.
Wave ‘ii’ should complete three waves up as shown to break 70.00 again possibly by Tuesday.
When that completes,
then I will look for a larger reversal into wave ‘iii’ of (iii) down.

Monday;
Watch for wave ‘b’ to form a higher low above wave ‘i’.
Wave ‘c’ of ‘ii’ should turn higher by Tuesday at the latest.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has definitely come off the boil this week without confirming the larger wave count yet.
The price action off the top is difficult to figure out so far.
I am hoping for some more clarity in the pattern next week.
A break of support at 4256 again will do that.
and if that happens with a five wave decline,
then I will be happy to suggest the top is finally in for wave ‘2’ again,
and we can focus on building that larger decline into wave (i) of [i] of ‘3’.
Its all ahead of us now.
IF this reversal pattern can be confirmed next week,
then it will be go time for the long awaited next leg down over the rest of the summer.

Tomorrow;
Watch for wave ‘i’ down to complete five waves down to break 4256 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at a possible three wave pattern higher developing in wave (iv) now.
The price is forming a higher low in wave ‘b’ this evening,
wave ‘c’ should begin by Monday evening and that wave should top out near 2280 if all goes to plan.

Monday;
watch for this fourth wave correction to continue higher and complete three waves up by Tuesday evening.