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

I arrived back home yesterday from our family camping trip and now we are back to normal service again.

This week actually marks the 4th of July independence day in the U.S so it will be a very quiet end of this weeks trade.

I will update on Thursday as normal and put out a weekend video also I think.

But, my brother is actually getting married on Friday after 44 years of singledom!

So that rules out any output from me on Friday I’m afraid, so it’s a busy week all round, but at least we are back to normal service for the most part.

Enda.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The idea of a completed triangle wave [b] is still in play here after a few slow weeks of action.
The general trend of prices has been downward since wave [b] topped out at 1.0852.

Even though the price has not rushed lower into wave [c] yet,
there is an impulsive structure in place off that wave [b] high to begin wave [c] down.

Wave (i) and (ii) is the initial move off the top to begin wave [c].
And as long as the price holds below the wave [b] high then this wave count holds.

Tomorrow;
Watch for wave (ii) to hold at 1.0777 and wave ‘i’ of (iii) to break below 1.0666 at wave (i) again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A similar story in cable after last weeks trade also.
We have a possible impulsive structure in place at wave ‘ii’ pink at todays lower high.
Wave ‘ii’ has completed as an expanded flat correction at 1.2706.

The price has turned lower again and is close to breaking below the recent low again to begin wave ‘iii’ of (i).
Wave ‘iii’ will reach equality with wave ‘i’ at 1.2467.
And if we reach that level.
wave (i) down will retrace most of the recent rally in wave (c) of [ii].

Tomorrow;
Watch for wave ‘ii’ to hold at 1.2706.
Wave ‘iii’ will begin with a break of 1.2611 and then continue lower in five waves to 1.2467.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has reached a new high today above 161.00 again.
The price is close to completing a five wave structure in wave ‘iii’ pink.
And from there we should see a corrective decline begin into wave ‘iv’ pink.
Wave ‘iv’ must hold above 154.74 at the wave ‘i’ level.
If that level breaks,
that will invalidate this count.

And from the wave ‘iv’ low we should see a rally back to a new high again in wave ‘v’ of (iii) of [v].

Tomorrow;
Watch for this five wave structure in wave ‘iii’ to close out in the next few sessions.
And from there we should see a corrective decline into wave ‘iv’ for the rest of the week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It has been a pretty choppy ride sideways in wave ‘ii’ over the last few sessions.
But so far the price is holding below the wave (ii) high at 39584.
And as long as that level holds at wave (ii),
we can expect the market to continue lower into wave (iii) as shown.
The proof of wave (iii) will not come until we see a break of the wave (i) low at 38000.
So I would love to see that happen this week as wave (iii) takes over.
We will see.

Tomorrow;
Wave (ii) must hold at the recent highs.
Wave (iii) of [i] will trace out five waves down this week if this pattern is correct.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The triangle idea for wave (iv) is holding at the recent lows at 2293.
this low must hold for the whole wave count to remain valid.

If this count is correct,
then wave ‘i’ of (v) must move higher this week in five waves,
and I want to see a break above 2387 at a minimum in wave ‘i’ pink.

Tomorrow;
Watch for wave ‘2’ to hold above 2293 and continue higher in wave ‘3’ of ‘i’ as shown.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The price has retraced quite deep into wave [i] now and it is time for this correction in wave [ii] to complete.
The price will reach the 78.6% retracement level at 84.00.
and I do not want to see an advance beyond that level in wave [ii].

If the main count is correct,
then wave [iii] down will begin this week.
And a quick decline back below 77.00 again will favor that idea.

Tomorrow;
Watch for wave (c) of [ii] to top out and reverse back below 80.00 as a first signal that wave [iii] has begun.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A possible top for wave (v) again today as the price pipped to a new high again.
The market didn’t last long up there and reversed the gains pretty quickly.
And now we have another attempt to begin wave (i) down in play.
The lower high this evening is labelled wave ‘i’ and ‘ii’ of (i).
And I want to see a decline back below 5200 to signal the top is in here.

Tomorrow;
Watch for wave (i) down to develop over the coming days.
5200 is the initial target for this move lower.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave ‘1’ and ‘2’ of ‘iii’ is the main pattern I am suggesting in silver tonight.
As long as the price continues to create lower highs as it has been doing,
then this wave count holds.
Wave ‘iii’ of (c) should fall to a new low near 26.00 this week.
I am looking for wave (c) to bottom out in a few weeks near the near the 25.00 handle again.
And if we get down there the market will be primed for a major rally again.
At the moment,
we are still in the midst of a large corrective formation in wave [ii] and that will take another few weeks to play out.

Tomorrow;
Watch for wave ‘iii’ of (c) of [ii] to turn lower and fall in five waves this week towards the 26.00 level again.