Good evening folks and the Lord’s blessings to you.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD broke down through the initial target at 1.1000 today and that is enough to convince me that this pair has finally turned down into wave [c].
the price has completed five waves down in wave ‘i’ today.
and I think we should see an early turn higher in wave ‘ii’ to begin next week.

Monday;
Watch for a three wave correction in wave ‘ii’ to begin.
The target area lies at about 1.11,
and it may take up the best part of the week to complete.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has not quite hit the target level at the previous wave ‘iv’ today,
but the pattern has a clear five wave form to the downside now,
and that is a good indication that we are close to a final low for wave ‘i’ now.
WAve ‘ii’ will take up most of the trade next week,
and after that correction is complete,
then this market can get exciting in wave ‘iii’ down.

Monday;
Watch for wave ‘i’ to complete by Monday evening.
a break of the support at 1.3000 will be a boost to the overall pattern.
but I am expecting wave ‘ii’ to turn higher towards 1.33 for most of next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have relabeled the wave count today with a new interpretation of this weeks rally.
I am suggesting the session highs today is the top of wave ‘iii’ of (iii).
and that does explain the solid acceleration higher this week.
Wave (iii) blue has more to go here,
with a top above 151.00 in reach now.
Wave ‘iv’ and ‘v’ should hit that area by the end of next week if all goes to plan here.

Monday;
Watch for wave ‘iii’ to top out and then correct back below 147.00 in three waves for the first half of next week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The weeks has ended without any follow through to the downside.
I can only guess that the action this week was corrective in nature,
and that will be followed by a rally to new highs next week!
But I am not changing my count,
the rally into the recent high is a complete count with a third wave extension,
the highs at wave (v) of [v] brought the market up to within a few points of the upper trend channel line,
and then we got a drop back out of the short term channel.
All in all,
I am on the fence here with my own bias intact!
Next week will prove me wrong, or right!

Monday;
Lets see which way the early trade breaks,
a step lower will improve the odds of this count.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am calling todays high wave ‘b’ of ‘a’ with an expected drop into wave ‘c’ coming next week.
Overall,
the action this week has neither confirmed or denied the wave count.
I prefer a larger correction towards the 2500 area to complete wave (iv),
and then another rally into wave (v) will be set up.
So I will wait on the market next week to see if wave ‘c’ can turn lower again.

Monday;
Watch for wave ‘c’ of ‘a’ to complete three waves down off the high to begin wave (iv) blue.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude broke above the 50% retracement level today and then reversed back to close pretty much flat.
The pattern in wave (2) has completed three waves up.
and wave ‘C’ of (2) has produced a throw over above the upper channel line.
The pattern is in the area where you can expect a second wave to top out,
but I am still unsure of the internal pattern of wave ‘C’.

Monday;
I am looking at the wave ‘A’ high at 72.26,
if that level is broken I think that will favor the idea that wave (2) is complete.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is basically flat for two weeks solid now.
And the internal pattern has nothing to show for it.
The 4hr chart now shows a momentum reversal in play here,
but the price action has not dropped impulsively off the top yet.
I am going to give the market a few more days to show its hand here,
the possibility remains real that we have topped out the pattern,
But no confirmation of that yet.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver spiked to a new high today but I am not convinced of the rally.
The price has retraced most of that rally this evening,
and I am suggesting this top is actually wave ‘b’ of ‘ii’ as an expanded flat.
Wave ‘c’ of ‘ii’ must now turn lower from here and fall back below 30.86 at the wave ‘a’ low.

Monday;
Watch for wave ‘c’ to continue lower in five waves with the target area in the area of 30.00.