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

Just as a reminder, this week is a short trading week as the market will be closed on Friday for good Friday.

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is still moving in a corrective form today within wave (a) blue.
The idea of a running flat in wave ‘b’ is on the cards,
but that requires an early turn down on Monday to confirm.

I am looking for wave ‘c’ of (a) to reach support at 1.1150 early next week,
and from there I will look for a rally in wave (b) to begin.

Monday;
Watch for wave ‘b’ to hold below the wave [i] high at 1.1472,
and then wave ‘c’ should complete three waves down near 1.1150.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Over the last few days cable has made very little progress in either direction.
We are essentially flat since Tuesday.
and even now there is very little to report after todays session.

The price is sitting at a small lower high this evening,
but this is a pitiful movement given the size of the move that I am looking for in wave (c).
Wave (c) of [ii] should drop into support at 1.2700 to complete over the coming days.
So that’s a 500 point decline,
and I am lacking proof at the moment!

The rally in wave (b) has done one thing to favor a reversal here,
a serious momentum extreme on the 4hr chart was registered this week.
and now momentum is turning down sharply off that high.
So there is a good chance that price will follow that momentum change over the coming days.

Monday;
Watch for wave ‘i’ of (c) to fall into the 1.30 level to confirm that wave (c) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I could say exactly the same thing for USDJPY except in reverse.
The price is holding a higher low above the invalidation level at 139.58 today,
There is very little movement in the action this week overall.
And the recent selloff has caused an extreme negative momentum with an upside reversal in play now.

I remain reasonably convinced we will see a sharp rally soon in USDJPY.
And the wave ‘i’ idea is still my best fit wave count at the moment.
Wave ‘i’ should turn higher next week,
and a break above 146.50 will signal to me that the rally is underway.

Monday;
Watch for price to hold above the invalidation level at 139.58.
wave ‘i’ must rally out of these lows in five waves to break above 146.50.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW stepped lower again today but without taking out that wave (i) low at 38440.
The market is moving in the right direction al right,
But I suspect no one is making big decisions today as it is the last session of the week.
That will come next week I suspect.
If we are moving in favor of a wave (iii) decline then we should see a five wave drop to break 37000 at a minimum.
That will be a major boost to the main count,
and that will also bring us close to the first major low of this leg down in wave ‘1’ or ‘A’ in blue.
It would be good to see wave [v] green close out that pattern next week.
And from there I will start looking for a possible rebound into a large lower high formation.

Monday;
Watch for wave ‘i’ and ‘ii’ of (iii) of [v] to make a lower high and then accelerate lower as shown.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am not going to make any big predictions here as gold has really surprised me over the last week.
I cant get excited about any turn lower until we see a solid break of the support at 2956 level,
and to get there we first need to break through support at 3167 at the wave (iii) highs.
So if we see a break of that level,
then we can look for a follow through move to take out the lower support as wave [i] green takes over.

Monday;
Watch for a clear sign that the top is in with a break of the wave (iii) high at 3167.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has run higher this week in three waves.
Even though we broke the wave [a] high,
this action still suggests a rally in wave (b) of [b].
The pattern for wave [b] is now an expanded flat correction,
so wave (c) of [b] should fall back below 58.40 to complete the correction.

Monday;
Watch for a drop back below the wave [a] high at 62.90 to signal wave ‘i’ of (c) has begun.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is almost flat on the session today but I can see the potential of a ‘i’ ‘ii’ pattern forming off the wave (ii) high.
This should begin the next leg down in wave (iii) of [v].
and that should begin early next week with a drop below 5113 at the wave (i) low.

Wave [v] green should break to a new low by the end of next week if the action follows the count.
That gives us a minimum target at 4800.
And from there wave ‘1’ or ‘A’ will complete.

Monday;
Watch for wave (iii) down to continue lower in five waves to break 5113 at the lows.
Wave (iii) must trace out five waves down.
and I am looking for wave (iii) to make most of the progress into 4800.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has made a reasonable attempt to begin wave ‘i’ down today.
The price has traced out a five wave pattern off that wave (ii) top.
That gives us a possible wave ‘1’ and ‘2’ lower high now forming.

Wave ‘i’ should continue lower early next week in this scenario.
we should hit the previous wave ‘a’ highs near 30.80 to complete the initial decline.
and from there wave ‘ii’ should rebound as suggested.

Monday;
Watch for wave ‘i’ to trace out five waves down as shown and hit the previous wave ‘a’ highs.