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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A small turn around in EURUSD today is a hint that wave ‘i’ is now complete.
I am calling this rally the beginning of wave ‘a’ of ‘ii’.
Wave ‘a’ will break above 1.09 at a minimum.
And wave ‘b’ should then create a higher low.
Wave ‘ii’ will take up most of next week,
and top out somewhere around 1.1040 or so.

Monday;
Watch for wave ‘ii’ to continue higher in three waves as shown.
And then a top should form above 1.10 later next week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A similar pattern is building in cable tonight.
the price has turned higher off the lows of the week at 1.2974.
Wave ‘a’ of ‘ii’ is underway,
and I am looking at the previous wave ‘4’ high at 1.31 to complete wave ‘a’.

Wave ‘ii’ will reach the 50% retracement level at about 1.3200,
so that gives us a nice target area to complete wave ‘ii’ next week.

Monday;
Watch for wave ‘ii’ to take control over the coming days with a top near 1.3200 as the target area.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY turned lower today in three waves.
The pattern continues to to make higher lows throughout the week though,
and so I am suggesting that todays low is another corrective pattern within the wave ‘3’ rally.

Wave ‘1’ and ‘2’ of ‘v’ are complete,
and wave ‘3’ is now underway with a flat correction underway.
This is denoted by the arrows.
This correction will complete at 148.80 and then turn higher again into wave ‘3’ early next week.

Tomorrow;
Watch for wave ‘3’ of ‘v’ to continue tracing out a five wave pattern above 152.00.
The price must hold above 148.22 at the wave ‘2’ lows.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market is finishing the week at the highs again as wave ‘5’ pushes towards that convergence of trend channels above.
A five wave pattern is complete for wave ‘v’ pink.
the larger wave (v) blue is also done.
So it is only a matter of a short time until this pattern rolls over.

I want to look at the alternate count for wave [v] green on the 4hr chart.
This is the previous pattern that I was working on last month I think.
wave [v] green is shown as an expanded wedge here.
and the market is now levitating at the upper end of wave ‘c’ of (v) of [v].
You can see the price has now reached the upper trend channel lines of both wave [v] green and wave ‘C’ blue.
This is a much higher degree hit on the channel for wave ‘C’ blue.
And I am very interested in seeing how the market reacts to this level next week.

Monday;
As I can sum up,
that is two separate patterns completed at the current levels.
This could be the making of an incredibly interesting reversal next week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

the price has advanced too far now to suggest that this is still just wave ‘i’ of (v) here.
I was looking for wave ‘ii’ of (v) to correct lower this week,
but instead we got a slow and steady march higher.

I am looking at a more advanced pattern for wave (v) here.
The current highs are happening in wave ‘iii’ of (v) now.
And in this scenario we are much closer to the end of the road for the higher degree wave [v] and wave ‘3’.
Wave ‘iii’ has not completed its five wave pattern yet,
so that should happen in the early part of next week.
Wave ‘iv’ can then correct later in the week.

Monday;
Watch for wave ‘iii’ to complete with one more step higher as shown.
A midweek correction into wave ‘iv’ is then on the cards.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The correction into wave (iv) topped out as a running flat pattern today.
Wave (v) then turned sharply lower with a break back below the 70.00 level again.
I think we have a five wave pattern now pretty much complete in wave [iii] green.
And the main focus for the first half of next week is for wave [iv] to turn higher in a correction again.

Wave [iv] must hold below the wave [i] low at 71.22.
So the margin for error is a bit tight to be honest.
If that level breaks at wave [i],
then I will be forced to rethink the larger pattern in wave ‘1’ blue.

Monday;
Watch for wave [iv] to begin a turn higher in three waves.
The wave [i] low must hold at 71.22.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I want to take a look at the 4hr chart for the S&P also tonight.
The upper channel line for that large wave ‘C’ in blue has been hit this week.
That closes out the channel at the wave [v] of ‘C’ top.
and that does suggest wave (B) is finally done now.

Obviously this is speculation.
But it is a very nice fit overall.

Monday;
I will hold off on calling a top again for the moment!
There will come a moment when this market will just give up the ghost,
and the unstoppable rally will turn into an unstoppable collapse.
I remain hopeful that we are close to that point now.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver did not give me the larger wave ‘2’ correction that I suggested,
instead we got a head start on wave ‘3’ to close out the week.
the market is now accelerating into wave ‘3’ of ‘iii’ with todays move.
And this rally should be sustained next week in the current scenario.

Monday;
If this is indeed wave ‘iii’ of (iii) underway here.
then we should see a top above 35.00 in wave ‘iii’ pink over the coming week.
This level marks where wave ‘i’ and ‘iii’ reach equality.