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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The price topped today below the 1.1000 level,
and now we see a turn lower again at the close.
This action is corrective in wave ‘4’ and wave ‘5’ has turned lower.

I am looking for a lower target now in wave ‘i’ pink with a possible 1.0900 level for wave ‘5’ now in play.
I will turn my attention higher into wave ‘ii’ then.

Tomorrow;
Watch for wave ‘5’ of ‘i’ to finish this pattern near 1.09 and then I can look higher into wave ‘ii’ for the rest of the week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The final low for wave ‘i’ is getting close here as wave ‘5’ has turned lower again.
The action so far this week has been corrective to the upside suggesting that wave ‘4’ topped out today.
and I am looking for one last dip into the support to complete wave ‘5’ of ‘i’.

Tomorrow;
A break of the support at 1.3000 will be a nice way to round out wave ‘i’ but I cant be sure on that.
Watch for wave ‘5’ to make one more low near 1.30 to finish five waves down.
and then wave ‘ii’ should take up the rest of the week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

A small turn higher today in wave ‘b’ is holding at a lower high.
wave ‘iv’ is still on track here,
I am allowing for a three wave move higher in wave ‘b’.
and then I suspect wave ‘c’ will drop again to complete a bigger pattern as shown.

Tomorrow;
Wave ‘b’ should hold below 149.11 and then turn lower to break 147.00 to complete.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The bias is still to the downside in the DOW today and so the door remains open for an impulsive decline to form here.
The price action remains in the downside channel overall.
So I am holding out on labelling this an impulse wave lower yet.
I want to see wave (i) pull the market lower with an acceleration to be convinced of that idea.
And so far that has not happened.

Tomorrow;
Wave (i) down needs a large step lower to bring the market close to the support at 40000 again.
If that happens,
I will be on board with a reversal.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

A step lower in wave ‘c’ today confirm the wave ‘a’ idea now,.
The price came close to hitting the lower trend line of the channel also,
so I think wave ‘a’ is pretty much done here.
I mentioned 2590 as a possible target for wave ‘a’,
and then I will turn my attention higher into wave ‘b’.

Tomorrow;
Lets see if the market gets to break below 2600 to complete wave ‘a’ pink.
Wave ‘b’ should then correct sideways for the rest of the week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Well,
crude has reversed quite hard off Mondays high now.
and the action is impulsive to the downside for sure.
the top of wave (2) broke out above the 62% retracement level and then dropped back into the channel again.
A classic sign of a throw over top.

I am calling todays drop wave [i] of ‘1’ of (3).
If this is correct,
then we have a long way down ahead of us as wave (3) takes hold over the coming months.

Tomorrow;
This pattern has yet to be proved correct in wave ‘1’ of (3).
so watch for wave [i] and [ii] green to create a lower high by the end of this week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am looking at a possible triangle for wave ‘iv’ tonight after another day without progress in this pattern.
WAve ‘iv’ is the penultimate move in the larger wave (v) blue.
And this should close out this week.

Tomorrow;
another small drop in wave ‘e’ of ‘iv’ will complete tomorrow and then a move higher into wave ‘v’ can begin.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver came down today with a nice spike lower in wave ‘c’ of ‘ii’.
the price has now hit the 50% retracement level.
and that is the correct area to look for a low to form here in wave ‘ii’.
The 62% level comes in at 29.59.
and from there we should see a turn higher into wave ‘iii’ begin.

Tomorrow;
Watch for a low to form in wave ‘ii’ over the next few days.
If the pattern is correct here,
I think we will see a turn higher into wave ‘iii’ by the end of this week.