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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Another step lower today into wave (iii) blue.
I am relabeling the internal pattern of wave ‘iii’ and ‘iv’ pink.
The correction in wave ‘iv’ is too large to consider at a lower degree.
So now the price is falling in wave ‘v’ of (iii).
but I would like to see wave ‘v’ break through the 1.0400 level.
and the lower it goes the better.
The decline in wave (iii) has reached equality with wave (i) at the current lows.
and the 162% Fib extension comes in at a 1.02.
So that is an ideal lower target for wave (iii) blue to hit.

tomorrow;
Watch for wave ‘v’ to (iii) to continue lower to break 1.04 at a minimum.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The price has dropped off today into wave ‘v’ of (iii) in cable also.
The minimum target for wave (iii) is 1.2530.
this is where wave (i) and (iii) reach equality,
so there is work to do here in wave (iii).

AS in EURUSD,
the lower wave (iii) goes the better for the larger pattern.
And an ideal target for wave (iii) lies at 1.2200.
this would create a good expansion in wave (iii) to allow for a correction higher in wave (iv).

Tomorrow;
Watch for wave ‘v’ of (iii) to drop below 1.2500 at a minimum and continue towards 1.2200.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY did fall today but I am beginning to doubt the idea that this is wave (i) down now in play here.
The action has not invalidated the wave count yet.
But,
if we don’t see a break of 153.13 tomorrow in wave ‘iii’ of (i),
then I will have to rethink this wave count for wave (i) again.
A rally back above 155.00 again will invalidate this short term count.

Tomorrow;
Watch for wave ‘iii’ of (i) to drop below 152.13 to confirm this pattern.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW rallied today and now we have three waves up in place to form a lower high.
The market will turn lower again tomorrow and fall into the 42000 level ideally.
And if that happens,
that will give a boost to the reversal pattern off the top.
I will wait and see how this plays out.

Tomorrow;
The lower high must hold.
Watch for the price to fall back into the lower trend channel line at 42500.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The rally off wave (a) has now gone far enough to consider this move as wave (b) blue rather than the lower degree count from last night.
The price is sitting back above the 50% retracement level of wave (a) this evening.
and this is an ideal area for wave (b) to top out and then fall back into wave (c) again.
Wave ‘i’ of (c) should retrace much of the rally in wave (b).
So I am looking for a drop into 2550.

Tomorrow;
Watch for wave (b) to top out and then price should turn lower into wave ‘i’ of (c) next week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

This wave (c) rally is holding on for dear life today.
There have been two attempts to turn lower off the highs this week,
and so far the market has not followed through to the downside.
The highs today reached the 62% retracement level of wave [i],
so this is a perfect area for wave [ii] to top out.

The overall pattern in wave [ii] has gone pretty much according to the script this week,
so I am still sticking with this correction wave count as the best fit pattern.

Tomorrow;
Watch for wave (i) of [iii] to fall into 66.80 to begin wave [iii] down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Silver has reached the upper trend channel line in three waves after todays rally.
the price is holding below the recent highs,
and if this is a second wave rally,
then the market must turn lower tomorrow to begin a third wave down in wave ‘iii’ pink.

Tomorrow;
Watch for the lower high to hold in wave ‘ii’.
A drop below 5800 again will signal that wave ‘iii’ is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has corrected lower into wave ‘b’ in three waves over the last few sessions.
The price has completed a higher low,
and now wave ‘c’ is poised to turn higher again to complete three waves up at the wave (ii) high.
The target for wave (ii) lies at 32.26.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete three waves up near 32.26 as shown.