Good evening folks, the Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

After days of in action,
EURUSD is finally beginning to move higher into wave (ii) today.
We should see a three wave correction higher develop and I am looking at the 50% retracement level at 1.0740 as the initial target.
IF the short term count is correct here,
then wave ‘a’ and ‘b’ of (ii) are already complete.
Wave ‘c’ of (ii) should complete the pattern near the target level by tomorrow evening if all goes well.

tomorrow;
Watch for wave ‘c’ of (ii) to track higher to that target level to complete a bearish lower high.
And then we can look lower again into wave (iii).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

cable also completed a higher low in wave ‘b’ today and the action suggests wave (ii) is underway now.
The low of wave (i) at 1.2405 must hold now for this pattern to remain valid.
and wave ‘c’ of (ii) should hit the 50% retracement level at 1.2557 when this is done.

Tomorrow;
Watch for the correction in wave (ii) to continue higher as suggested.
Wave ‘c’ of (ii) will trace out five waves up and top out near 1 2550.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is starting to move off the highs of wave (i) now and I am expecting wave (ii) to take over the action for a while now.
The price has not dropped enough to confirm wave ‘a’ of (ii) yet,
but if the price breaks below the trend channel at 153.60,
that will support the idea of a top at least.

The main confirmation level for wave ‘a’ of (ii) lies at 151.97,
so lets see how the pattern progresses tomorrow to see if wave (ii) is going to take over.

Tomorrow;
Watch for wave ‘a’ of (ii) to take over and fall in at least three waves towards the 152.00 handle.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is holding up above the lows of wave [i] again this evening.
And it seems now that wave [i] is in place here at 37590.

I am suggesting that wave (a) of [ii] is now underway.
Wave (a) should trace out three waves up,
and it looks like wave ‘a’ and ‘b’ of that three wave pattern have already completed
Wave ‘c’ of (a) has a target at the previous wave (iv) high of 38270.

If we get that far I will take a step back and see how the pattern is fairing out.
The alternate idea is still viable at the moment,
and another bout of selling can trigger that pattern easily.
So just keep one eye on that.

Tomorrow;
Watch for wave (A) of [ii] to complete three waves up near 38370.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is again holding below the highs this evening,
and we might even have a turn lower on our hands here.

I am waiting for wave ‘c’ of ‘c’ to fall back below the wave ‘a’ low at 2324.
That is the minimum target for wave ‘c’,
but the lower wave ‘c’ goes the better for the larger pattern in wave (i).

Tomorrow;
The wave (iv) correction has not been confirmed yet at all,
so I really do want to see the price drop into that wave ‘a’ low before the end of this week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude took another step lower today and that seems to favor the bearish short term count now.
I have labelled todays decline as part of wave ‘iii’ of [i].
This pattern suggests an extension lower into wave ‘iii’ will happen over the coming days.
but it is still early days in this pattern here,
the first test will come at the wave ‘b’ low of 80.43.
If that level breaks,
then I will feel a bit more comfortable making longer dated predictions!
For the moment,
lets just take it one day at a time!

Tomorrow;
watch for wave ‘iii’ down to develop in a clean five wave pattern as suggested.
I am looking for wave ‘iii’ to break the wave ‘b’ low at 80.43.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The pattern in the S&P is a little more complex than the DOW pattern as it involves a double extension within a larger third wave.
Because of that,
this pattern can be invalidated easier than the DOW pattern.
So far the pattern is working out for wave ‘iii’ of (iii).

Today we saw a low in wave ‘5’ of ‘iii’,
and now a rebound into wave ‘iv’ should take the market higher for a couple of days.
The invalidation level for this pattern lies at the wave ‘i’ high at 5143.
So that level must hold as wave (iii) develops.

Tomorrow;
Watch for a corrective sideways move over the coming days to complete below the invalidation level at 5143.
If the market turns lower again tomorrow,
then I will rethink the internal pattern for wave (iii).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is still hanging in limbo at the moment.
The wave (iv) correction is still my best guess here,
but I want to see the price move into the correction to confirm the pattern.

The pattern is still valid here for wave ‘c’ of (iv).
but the price must turn lower again tomorrow to confirm wave ‘c’.
A break of the wave ‘a’ low at 27.56 is the minimum target for wave ‘c’.
If that happens tomorrow then I will be a little more confident of this pattern.

Tomorrow;
Watch for wave ‘c’ to continue lower in a five wave pattern to break the wave ‘a’ low at a minimum.