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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The price rose into a possible high for wave ‘a’ pink today although I would prefer to see a little more in this wave.
If wave ‘a’ is now done,
then we should see a drop back in wave ‘b’ to form a higher low above 1.0763.
So the margin for error on the current action is quite tight here.

Tomorrow;
This count allows for wave ‘b’ to fall back to a higher low as suggested.
and then wave ‘c’ will run higher towards the 50% retracement most likely next week.
Watch for wave ‘b’ to form a shallow correction and hold above the wave (i) low.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The market had a short and sharp reaction to the budget earlier today
but that whipsaw move only served to create a larger wave ‘2’ black.
The price is back off the hgihs again.
and at the moment I suspect wave ‘3’ of ‘iii’ is getting ready to go lower now.
If the price breaks below 1.2900 again,
that will signal wave ‘3’ black is underway.

Tomorrow;
Watch for wave ‘2’ black to hold below 1.3072.
Wave ‘3’ must continue lower in five waves over the coming days.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Give that we have a swing back in favor of USD relative strength now,
I suspect a rally in USDJPY will invalidate the current idea for wave (iv) soon!
I will just wait and see how that turns out.

So far the price is holding below the wave (iii) top,
and I am looking for a drop into wave ‘a’ of (iv) near 151.00 to confirm the pattern.

Tomorrow;
Watch for wave (iii) to hold at 153.88,
wave ‘a’ of (iv) must now continue lower.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action today is allowing me to stick with the main wave ‘i’ count.
the market reached a small lower high today in this wave ‘4’ correction,
I am suggesting this is a running flat wave ‘4’,
and now the market is dropping out of the correction into a possible wave ‘5’ new low.
I still hope for a break of support to complete wave ‘i’,
but we will see how this pattern ends tomorrow.

Tomorrow;
Watch for wave ‘5’ of ‘i’ to drop into 41800 to complete five waves down.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave ‘v’ of (v) of [v] is now pretty close to done in gold.
A very slight new high today has hit the target level for wave ‘v’ pink at 2790.
that level marks equality between waves ‘i’ and ‘v’ within the larger wave (v) blue.
All the puzzle pieces are in place here to suggest we are at a turning point,
so it is a matter of waiting to see if a reversal can build from nearby.

Tomorrow;
Watch for wave ‘v’ of (v) to top out and drop back into 2727 pretty quickly to signal wave ‘i’ is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil turned higher today to break the previous wave (iv) high.
This action confirms that wave [i] is complete and wave [ii] is underway.
Wave (a) has topped reached the gap created by the earlier wave (iii) drop.
and that level should mark a short term top.
Wave (b) is expected to turn lower and form a higher low.
and that wave will take a few days if all goes well.
That means wave (c) of [ii] will have to wait until next week.

Tomorrow;
Watch for wave (b) to fall in three waves and complete above 67.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The action this week has been less than flattering to be honest,
a long grind sideways overall really.
the price has turned lower again tonight,
so the door remains open for a possible wave ‘i’ drop to break support at 5762.
until that happens,
I will remain on the sidelines waiting for some clarity.

Tomorrow;
Lets see if the market can push lower over the coming days to achieve that support break.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The long a slow grind sideways this week opens up the possibility that wave ‘4’ black is a triangle.
This implies a continued squeeze in the action for tomorrow at least,
and then wave ‘5’ can bounce higher by Friday.
This count will hold as long as price remains above 33.08.

Tomorrow;
WAtch for wave ‘4’ to continue to trace out a contracting triangle and complete near 33.70 again.