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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD can not catch a break these days.
I went from looking for this decline to start a few weeks back,
to looking for this decline to stop now!
Always rolling in the waves!

I have moved up the pattern by one degree tonight,
as the decline has almost retraced all of the previous wave (c) rally.
Wave (i) blue is now completing after an extension in wave ‘v’,
and wave (ii) should begin before the end of this week.

Tomorrow;
Watch for that final low in wave (i) to register.
The price is holding at a previous shelf of support right now,
so this may be enough to complete wave (i).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has dropped lower again tonight to continue the larger decline in wave (i) blue.
The price has failed to correct higher into wave ‘ii’ like I suggested.
And now the decline has accelerated lower again.
I am now looking at a completed wave ‘ii’ at Mondays highs,
and now a turn lower into wave ‘1’ of ‘iii’.
If this pattern is correct,
then the wave ‘ii’ high will hold at 1.3072.
And wave ‘iii’ down will continue lower towards 1.2700 at least.

Tomorrow;
watch for wave ‘iii’ of (i) to trace out five waves down for the rest of the week as shown.
Wave ‘3’ of ‘iii’ has the potential to drop sharply later tomorrow.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has reached into the target area at 153.00 today and that should complete the rally in wave ‘3’ of ‘v’.
Wave ‘4’ should now turn lower in three waves and complete above support at 150.00.
I am looking for another high in wave ‘5’ once that correction is complete,
but that will likely wait for next week because wave ‘4’ is expected to take a few days just like wave ‘2’.

Tomorrow;
Watch for wave ‘4’ to correct into the 150.00 level in three waves.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A step lower today has given us a three wave pattern lower off the high.
I am looking for the market to take out the previous wave ‘iv’ lows at 41800 after a five wave decline as shown.
We will see how that goes over the coming few days.

Tomorrow;
I would like the see the low labelled wave ‘1’ at 42700 hold as this pattern develops.
Lets see how the pattern develops to close the week.
I have a minimum requirement for this decline in order to start getting into a bearish gear again.
That level lies at 41800.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave ‘iv’ seems to be underway now after todays action.
A sharp drop into the lows of the session in wave ‘a’ of ‘iv’.
and if this pattern is correct,
then wave ‘b’ and ‘c’ will close out a three wave decline in wave ‘iv’ early next week.
And from there we should see a rally in wave ‘v’ to a new high.
We will have to wait until next week for that to begin.

Tomorrow;
Watch for wave ‘iv’ to fall in three waves towards the previous wave (iii) high at 2685.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has fallen back today off that wave [a] high.
Wave (a) of [b] dropped into todays lows and then bounced back in wave (b).
wave (c) should turn lower again tomorrow to complete three waves down in wave [b] of ‘2’.
It looks like we will see another rally by Friday and into next week when wave [c] takes hold.

Tomorrow;
watch for wave [b] to complete three waves down with a break of 70.00 by tomorrow evening.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P did follow the DOW lower today and that does open up the possibility of wave ‘i’ down now.
the price has only traced out three waves down so far,
and at the moment that action can be viewed as a correction off the top.
I am looking for a five wave decline and a break of the wave ‘iv’ low at 5678 in order to tip the balance in favor of wave ‘i’ here.
so lets just see how this decline develops over the final few days of this week.

Tomorrow;
Watch for the top to hold at the recent highs in wave ‘v’.
if the market continues lower towards support tomorrow that will give the wave ‘i’ idea a boost.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver hit the upper trend channel line and then took a sharp turn lower today.
that completes wave ‘3’ of ‘iii’,
And now wave ‘4’ has begun with that initial decline.
Wave ‘4’ must hold above the wave ‘1’ high at 32.17,
and if we see a break of that level it will invalidate the pattern for wave ‘ii’.

I do think that wave ‘5’ will turn higher again before the end of this week.
It just depends on the pattern wave ‘4’ takes from here.

Tomorrow;
Watch for wave ‘4’ to complete a correction above 32.17.
Wave ‘5’ of ‘iii’ should push out to a new high over the following days.