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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The decline did not reach the lower trend channel line as expected,
but,
A bounce back to the 1.03 handle this evening has opened up the possibility that wave [c] of ‘2’ is finally done.

I am now looking for a five wave rally to hit the 1.05 level in wave (i) for the rest of this weeks trade.
If that happens,
then we should see a higher low build early next week in wave (ii).

Tomorrow;
Watch for wave wave ‘ii’ to hold above the lows at 1.0176 to begin wave (i) blue.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We have a bounce in cable also tonight,
but I think this turn higher is happening as part of a corrective wave ‘4’ of ‘iii’.
If I am correct here,
then we should see a three wave pattern top out below 1.2350,
and then a turn lower into wave ‘5’ of ‘iii’ before the end of this week.

Tomorrow;
Watch for wave ‘4’ to complete a three wave correction below 1.2350.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am going back to the drawing board tonight in USDJPY.
The pattern I have been working with is just not explaining the action correctly.
The price is actually creating a lower high tonight.
And that action is far from a third wave acceleration higher.
I am looking at the possibility of a larger wave (ii) correction again.
And the price will fall again in wave ‘c’ of (ii) in this scenario.

Tomorrow;
Watch for wave ‘c’ of (ii) to drop below 155.95 at the wave ‘a’ low in five waves for the rest of this week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW continued its move higher today into wave ‘c’ of (ii).
the price action has created a higher low at wave ‘2’ already.
And this evening we have a bounce into wave ‘3’ of ‘c’.
Wave ‘c’ should hit the minimum target at 43333 which marks the wave ‘a’ high.
That will complete a three wave correction higher.
and from there I will look for a reversal to begin wave (iii) down.

Tomorrow;
WAtch for wave ‘c’ to continue higher to complete a five wave pattern at 43333.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is working its way lower in a three wave pattern as expected in wave ‘d’.
The price must fall again tomorrow in wave ‘c’ of ‘d’ as shown.
And the likely target area for wave ‘d’ lies in the area of 2615 again.
Once we see that low,
then I will look higher to begin wave ‘e’ of (b).

Tomorrow;
Watch for wave ‘d’ to complete a three wave pattern lower to hit 2615.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude turned off the highs today in a pretty corrective manner.
this move does not confirm the overall pattern in wave [iv] yet.
I think we will have to see a drop below 75.00 in wave (a).
that will bring the price back to the initial support level at the wave (iii) high.
And I think that will be enough to confirm the larger pattern.

Wave [iv] will fall in three waves overall and it must complete above the wave [i] high at 71.47.

Tomorrow;
Watch for wave (a) of [iv] to fall below 75.00 to complete a three wave pattern lower.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

the price action in the S&P is moving along with the pattern quite well so far.
The market is creating a higher low today in wave ‘b’ of ‘ii’.
with another rally into wave ‘c’ expected to begin soon.
This will complete three waves up near 5900.
That area marks the previous wave ‘4’ high, and the 62.% retracement level.

Tomorrow;
watch for wave ‘b’ to hold above the wave ‘i’ low at 5770.
Wave ‘c’ should turn higher as suggested.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The count in silver is still on track tonight in wave ‘i’ of (iii).
The price has created a possible lower high in wave ‘2’ as I write,
and if this pattern is correct,
then wave ‘3’ of ‘i’ will turn lower again tomorrow.
I suspect wave ‘i’ will break the low at 28.75.
And from there We should see a a correction higher into wave ‘ii’.

Tomorrow;
Watch for wave ‘i’ to continue lower in five waves as shown.
Wave ‘3’ of ‘i’ should turn lower tomorrow again and fall into support at the wave (i) lows.