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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The wave count in EURUSD is coming under pressure today with a drift back into support at the wave ‘i’ high at 1.0440.
This does not officially invalidate the bullish count,
but the door is closing for wave ‘iii’ of (iii) now.
If the price drops below 1.0385 again,
that will flip this pattern in favor of the alternate count on the 4hr chart.

Tomorrow;
WAve ‘5’ of ‘iii’ can still turn higher to save this pattern.
but we need to see a break of 1.0533 again to bring the action back in line.
1.0385 must hold.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I hold the same skeptical view for cable tonight.
The price has not accelerated into wave ‘iii’ of (iii) yet and that is a cause for concern.

the main count is holding for the moment,
but we need to see a sharp rally in wave ‘5’ of ‘iii’ to confirm that idea.
If the price breaks the wave ‘1’ high at 1.2464 again that will invalidate this count also.

Tomorrow;
Wave ‘5’ of ‘iii’ must continue higher towards 1.2800 again to favor the main count.
1.2464 must hold.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is getting too close to that lower invalidation line also tonight.
There was a small bounce today to hold above 150.93,
but I want to see a much larger rally in wave (iii) to confirm this pattern.
A break of 154.81 will favor the bullish count.

The alternate count can allow for a rally in wave (b) of [ii] to hit that target level as shown.
So I will admit that we are in a period of flux at the moment.
The market has not made a decision on the larger pattern yet,
and I suspect we will be kept guessing until that happens.

Tomorrow;
Wave (iii) simply must push out above the wave (i) high at 154.81 to favor this count.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is stuck in range again today with a drop back to that lower trend channel line,.
The triangle scenario is a real possibility now.
And if the market holds above 44000 tomorrow,
then I will switch counts to favor that triangle and I can start again looking for that top in wave (B).

Tomorrow;
If the price holds above 44070 and pushes higher again that will favor the triangle correction and a new top will form in wave [v] again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

GOld rallies back to the highs today and that suggests wave [b] is still in play here.
The action over the last week has basically gone sideways.
there is a possible triangle underway in wave (c).
And in that case we will see a new high again to finish wave (c) and [b] this week.

On the 4hr chart you can see that the current highs are hovering just below the 162% extension of wave [a].
Although this is an extended rally in wave [b].
It is not impossible as part of an expanded flat correction.
Where wave [b] will extend beyond the previous highs.
And then wave [c] can be expected to extend below the wave [a] lows to complete the larger correction in wave ‘4’ red.

Tomorrow;
The price has not broken to a new high yet so there is still a small chance that wave ‘i’ down will take over.
In that case wave ‘3’ of ‘i’ must drop sharply and break 2860 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The larger wave ‘ii’ pattern became a reality today with break above the 72.00 level again.
The price dropped off that wave ‘ii’ level quite sharply again,
and the door is now open for wave ‘iii’ down to begin.

Tomorrow;
A drop back below the 70.00 level again will signal that wave ‘iii’ has begun.
Price must hold below 73.40 in this scenario.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

the S&P peaked above the highs today without a new rally into wave ‘3’ of ‘iii’ yet.
the pattern in wave ‘iii’ of (v) has is not yet confirmed.
But as long as the price holds above the wave ‘ii’ low at 5907,
then wave ‘iii’ of (v) remains the best fit for this action.

Tomorrow;
WAtch for a turn higher in wave ‘3’ of ‘iii’ to push on into this closing pattern in wave (v) again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver holds below the highs in wave ‘2’ again today.
this lower high has traced out a three wave pattern over the last few sessions,
and now it is time to prove this idea with a drop into wave ‘3’ of ‘i’ soon.
Wave ‘i’ down should break below 31.20 again in five waves later this week.

Tomorrow;
Watch for wave ‘2’ to top out and then drop into wave ‘3’ down.