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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Ok,
The action today was just a little wild,
but I think we can fit this into a workable pattern here.

I have abandoned the triangle idea for wave ‘b’,
and now I am showing a five wave rally into the top today in wave ‘c’ of (ii).
The price is hitting off that 50% retracement level again this evening in wave ‘5’ of ‘c’.
So this pattern is done,
and the reversal lower into wave ‘i’ of (iii) should come tomorrow.

Tomorrow;
Watch for wave ‘c’ of (ii) to top and reverse below 1.0690 again to signal wave ‘i’ of (iii) is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Five waves up in wave ‘a’ has completed but the price has failed to reverse into wave ‘b’ yet.
Cable did make an attempt to turn lower earlier today,
but that was completely retraced this evening.
I am looking for a drop below 1.2420 to signal wave ‘b’ is in play.
But we may even have to wait until Monday for that to happen.

Tomorrow;
The rally into wave ‘a’ has already achieved enough to call wave (ii) complete,
but the internal pattern in this rally is not ideal.
so I am going to stick with the larger wave (ii) pattern as shown.
and the next thing here is a decline in wave ‘b’.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is holding up well despite an extended rally already in place into this high.
I continue to look for an initial drop to signal the larger wave (ii) correction has begun.
But the signal level at wave ‘4’ is quite far away now at 200 pips lower.
The initial shoulder of support lies at 154.75,
so lets see if the price can break that level first to indicate a turn is in play.

Tomorrow;
Watch for wave ‘a’ of (ii) to begin with a drop below 154.75.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has dropped back enough today to consider wave (v) now in play.
the internal pattern of the drop is not ideal,
but The action is impulsive looking,
so I am willing to run with this idea.

Wave ‘i’ and ‘ii’ should be down now after this evenings retracement to a lower high.
And wave ‘iii’ of (v) should continue down to support at 37230 again to complete the larger wave [i] pattern.

The alternate count is also viable here,
and I can even see the possibility of a larger three wave rally as shown.
I will switch to that idea if we see a break above 38590 again.

Tomorrow;
WAtch for that wave (iv) high to hold at 38590 and wave ‘iii’ of (v) to continue lower into support.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The action continues in a corrective manner today in wave ‘b’ of (iv).
I am looking for a larger run higher into wave ‘c’ of ‘b’,
but the price is struggling at the moment.
The action today did not reveal much in terms of the larger pattern,
but at the very least I can stick with the idea of a correction higher in wave ‘b’.

Tomorrow;
Watch for wave ‘c’ of ‘b’ to push up towards the 2370 area to complete the pattern.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is holding up reasonably well today and the price has rallied back above the corrective range again this evening.
I am still going to view this action as a three wave rally higher in wave ‘ii’,
With the expectation that wave ‘iii’ of (iii) turns lower again pretty soon.
So far the correction in wave ‘ii’ has reached the 62% retracement level.
and I can say that there is enough done here to warrant a turn lower again.
But I will just wait and see if that turn down in wave ‘iii’ comes before we close the week.

Tomorrow;
watch for wave ‘ii’ to close out and reverse lower into wave ‘iii’ down.
A break of 80 70 will signal wave ‘iii’ is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is showing the same lower high this evening to begin wave ‘v’ of (iii).
and if this pattern is correct here,
The high of wave ‘iv’ must now hold at 5093,
and wave ‘3’ of ‘v’ must turn lower again towards the wave ‘iii’ low at 4926.

The downside in wave [i] is nowhere near over yet if this count holds up,
there will be further steps lower and corrective rallies along the way.
but the larger wave [i] has the potential to carry the market down to 44650 at the previous wave [iv] lows.
This can be seen on the 4hr chart.

Tomorrow;
Watch for the wave ‘iv’ high to hold at 5093.
Wave ‘v’ of (iii) should continue lower as suggested.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Its been a pretty dead few days in the silver market.
I am counting this action as a correction in wave ‘4’ of ‘c’.
With wave ‘5’ of ‘c’ yet to come here.
Wave ‘c’ should make it down to the lower trend channel line near 26.00 again.
And after that I will look higher into wave (b).

Tomorrow;
Watch for wave ‘4’ to hold at 27.57.
Lets see if wave ‘5’ of ‘c’ can drop to a new low and complete the pattern near 26.00.