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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is nearing the end of this corrective pattern in wave ‘2’ red.
This weeks trade should see this pattern completed,
and the beginning of a new leg up into wave ‘3’ red.

the current lows in wave ‘2’ mark the 62% retracement of wave ‘1’ red.
The overall pattern is in three waves,
and the overall price action is showing signs of a momentum reversal.

I can’t say what the exact final low will be,
it is very likely that the price will drop into the lower trend again before an impulsive bounce can start.
so lets just track the short term action to see how it develops.

Tomorrow;
Watch for wave ‘v’ of (v) to find a final low near the lower trend channel line again.
A break back above 1.0437 again will be confirmation of the rally into wave [i] of ‘3’ is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am not quite done with this corrective pattern in wave ‘2’ yet.
There is a developing fifth wave underway here,
and the internal wave count of wave (v) of [c] is not fully fleshed out I think.
I am waiting for a series of fourth and fifth waves to complete here before calling wave (v) blue complete,
so,
at the moment I am allowing for another step lower to develop this week in order to complete this larger pattern.

Tomorrow;
Watch for wave (v) blue to close out a five wave pattern lower this week
I am still looking at that minimum target for wave [c] at 1.2036 for this correction to finish.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am certainly aware that the action over the last few sessions has not been ideal.
I am suggesting that we will see a strong rally into wave ‘iii’ of (iii) this week,
but so far the action does not look very promising.

I have not change that bullish wave count yet,
simply because the price action has not ruled out this scenario yet.
so again,
I am stuck in limbo with a wave count that ‘fits’,
but price action that fails to confirm.

Tomorrow;
Watch for wave ‘ii’ to hold at 156.22.
Wave ‘iii’ up must be confirmed with a sharp move higher to break above 158.86.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

the Dow has bounced off that lower channel line again today
and that action does suggest wave ‘b’ is complete at todays lows.
Three waves down is in place for wave ‘b’,
and now I am looking for a five wave rally in wave ‘c’ as shown.

Wave ‘c’ should break the wave ‘a’ high at 43330 to complete an expanded flat correction in wave (ii) later this week.
And once that is complete,
wave (ii) will give way to wave (iii) down.

Tomorrow;
Watch for wave ‘c’ of (ii) to climb in five waves to hit 43330 later this week.

Another reversal to break 41600 again will signal wave (iii) down is already underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has turned lower off that wave ‘c’ high today which keeps the wave count in play for wave (b) blue.
the triangle count calls for wave ‘d’ to fall in three waves towards 2615.
That level marks the previous internal low of wave ‘c’.
and it seems like a natural area to find support.

Tomorrow;
Watch for wave ‘d’ to continue in a corrective decline to hit the support at 2615.
From there I will look higher again into wave ‘e’ to complete wave (b).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The rally today has invalidated last weeks count for wave ‘2’ blue.
And now the pattern has dropped back once more to the higher degree wave (2) green.
This is best viewed on the 4hr chart.

the rally in wave ‘C’ of (2) must trace out a five wave pattern.
And I have marked todays highs as wave [iii] of ‘C’.
this pattern suggests a correction from here into wave [iv] over the rest of this week.
and then a rally into wave [v] of ‘C’ of (2) next week.

Tomorrow;
Watch for a turn lower into wave (a) of [iv] this week.
support lies above 71.46.
A break of that level will flip the wave count back into wave (3) down again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

the S&P has bounced off the session lows after completing wave ‘i’ of (iii).
I am now suggesting that wave ‘ii’ is underway.
Wave ‘ii’ should rally in three waves over the next few days as shown.
And the pattern should complete near the previous wave ‘4’ high at 5920.
From there I will look for a turn down into wave ‘iii’ of (iii).

tomorrow;
Watch for wave ‘ii’ to complete three waves up to hit 5900 by midweek.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver turned lower today in an attempt to begin wave (iii) down finally.
I want to see a break of the wave (i) low at 28.75 to complete wave ‘i’ this week.
and then a lower high in wave ‘ii’ should start.

This market could get very interesting from here on out if this count is correct,
the decline into wave (iii) of [iii] is not something that anyone is expecting,
in fact I suspect people are geared for another big leg up in the metals.
We will see soon enough.
But I am watching the downside like a hawk this week.

tomorrow;
Watch for wave ‘i’ of (iii) to fall into 28.75 again.