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 is ending the day back near the lows of wave ‘a’ at 1.0766.
So we have a pretty large retracement of the previous rally now.
The action suggests wave ‘3’ of ‘c’ is now underway.
I would like to see wave ‘3’ of ‘c’ break 1.0700,
and wave ‘c’ should hit the 1.0600 area when fully complete.

Monday;
Watch for wave ‘c’ to complete five waves down near the 1.06 handle as shown.
Later next week I will look for wave (iv) to correct sideways again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is quite close to breaking support again tonight.
The price has retraced most of the rally in wave ‘ii’ now,
and the reversal lower again is looking impulsive now.
I am labelling todays decline as wave ‘3’ of ‘iii’ and this wave should fall into 1.2450 when complete.
the larger wave (v) pattern will break below 1.2400 later next week if this pattern is correct.

Monday;
Watch for wave (v) to complete the larger wave [i] by the end of next week.
Wave ‘iii’ of (v) must break support at 1.2548 and then find a low near 1.2450 by Monday evening.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY completed three waves down today and that should be enough to call wave ‘iv’ complete.
The price hit the target level at 144.56 also,
and then we saw a sharp reversal higher off the lows.
I have labelled this rally as wave ‘1’ of ‘v’ of (iii).
and we should see a five wave rally over the next few sessions to complete wave ‘v’ of (iii) near the 150.00 level again.
The minimum target for wave ‘v’ lies at 147.38.

Monday;
Watch for wave ‘1’ and ‘2’ to create a higher low above 144.44 and then continue higher in five waves.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The reversal off wave (ii) is not complete yet.
The price took another step lower today but that is not enough to confirm wave ‘i’ yet.

The price action has only traced out three waves down off the high of wave (ii).
But I do still favor the idea that wave ‘i’ is underway.
I am looking for a drop back below the wave ‘b’ low at 34440 again,
when that happens we can be confident in this wave ‘i’ of (iii) count.

Monday;
Watch for the market to continue to work its way lower as suggested.
A break of the wave ‘b’ low will tip the scales in favor of the bearish count I think.

It is not certain if wave ‘2’ is even complete at this point.
But as long as the action continues to move lower in an impulsive manner,
then we can stick with this bearish count.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold did spike to a new high for the week today,
but the price then spiked lower and retraced below the wave ‘4’ low again.
This looks very much like a reversal into wave ‘1’ of ‘i’ tonight.

And I am watching for wave ‘3’ of ‘i’ to continue lower early next week to confirm the pattern.
Wave ‘i’ should retrace most of the previous rally in wave ‘c’.
So I am looking at that 1903 level as the confirmation level for the wave count.

Monday;
Watch for wave ‘i’ of (iii) to fall in five waves over the coming few days.
The first support lies at 1903,
So I want to see a break of that level to complete wave ‘i’.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave [v] proved itself today with a break out to a new high for this pattern.
But this is a pattern don’t forget.
And it will draw to a conclusion soon as wave ‘C’ of (4) closes out.

It is interesting that I have already seen the headlines of 100 dollar oil after todays move!
That should prove a contrarian indicator!

Monday;
Wave (iii) of [v] should complete by midweek next week at the latest.
Watch for one more step higher in wave ‘iv’ and ‘v’ to complete wave (iii).
then wave (iv) and (v) will complete the larger pattern.

One step at a time!

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has not had as dramatic a turn off the highs as the Dow,
but the action is interesting to me none the less.

Wave (ii) has completed three waves up to form a lower high.
And the highs of the week failed to hit the 78.6% retracement level today.
Right now we have a failure at the end of a correction.
That is a hint that the correction is coming to an end here.

Wave ‘i’ is expected to retrace most of the rally in wave ‘c’ when it does get going.
And if we see a break below the wave ‘a’ top at 4474 that will signal wave ‘i’ is taking over.

Monday;
Watch for wave (ii) to hold at this weeks high.
the market must continue lower in a five wave pattern in wave ‘i’ of (iii) as shown.
Wave ‘i’ should hit the wave ‘b’ low at 4355 as the initial target.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has stepped lower again today after a small lower high was registered early in the session.
the pattern is calling for a five wave decline into wave ‘i’ now,
and wave ‘i’ and ‘ii’ must form that lower high as shown over the next week as shown.

I am asking a whole lot from wave (iii) now.
As wave (iii) is expected to fall right back down to the 20.00 level again over the coming weeks.
Wave ‘i’ of (iii) should hit the 23.00 level again.
So there is work to do here.
I want to be able to rule out the alternate count on the 4hr chart by the end of net week.
So the market has got to going moving here.

Monday;
Watch for wave ‘i’ down to trace out five waves lower to break 23.00 again.