Good evening to you all, and may the Lord bless you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am going to try a different tack today in EURUSD.
This correction has gone on for long enough to be considered as a higher degree pattern.
So,
I have labelled the whole sideways range as wave [iv] green rather than wave (iv) grey.
The internal pattern makes sense as a five wave rally in wave (a).
a triangle in wave (b),
followed by another possible five wave rally in wave (c) to come.

If this pattern in correct,
then wave [iv] will rise to the 1.1500 area again this week,
and then fall into wave [v] of ‘C’ over the following weeks.

Tomorrow;
Watch for wave (b) to hold at 1.1285.
A rally in wave ‘iii’ should break above 1.1386 to confirm this pattern.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable seems to be grinding to a halt in an ending diagonal over the last few sessions.
This pattern is getting tighter as the days progress,
at the very least the overlapping nature of the rise is very indicative of a pattern that is loosing steam.

There is no sign of a reversal pattern yet,
so I am just going to have to wait until we see a reasonably sharp drop to break below 1.3500 again to signal wave (i) of [iii] has begun.

Tomorrow;
Watch for wave ‘v’ of (c) to find a final high and then reverse sharply into wave ‘i’ of (i).
A break below the rising wedge again will signal wave ‘i’ of (i) has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave (iv) filled the trend channel and reached a low at 115.04 on Monday
and now the price has risen off that level in three waves so far.
This action is not ideal in terms of a developing impulsive wave in wave (v).
But as long as the price holds above 115.04,
we can expect wave (v) to continue to make progress over the next few days.
The minimum target lies at 116.35.

Tomorrow;
115.04 must hold.
Wave ‘i’ will break 115.92 in an ideal pattern,
but I will have to just wait and see how wave (v) develops overnight to make a call on the internal pattern of wave (v).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

There has not been a major buy in off the low created on Monday, not yet anyway.
And the pattern that has developed off the low, is in three waves so far.
At this point the alternate count is still open and viable.
I am not going to hang my hat on it,
but it is possible!

If we look at todays action in terms of the main count.
Then todays small higher low as completed waves ‘i’ and ‘ii’ of (iii).
Tomorrows action should bring wave ‘iii’ of (iii) and a sharp rally also.
This rally in a third of a third should easily carry the price out to a new all time high in a day or so.

Now a problem arises really quickly for the bullish count if that rally in wave ‘iii’ of (iii) does not happen.
then the alternate count will move back into the frame again!

Tomorrow;
Watch for wave (ii) to hold and the rally into wave ‘iii’ of (iii) to get started very early tomorrow.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

It may not look the case,
but the wave count has taken a leap ahead in wave (4) today

I have switched to the alternate count for wave ‘C’ and ‘D’ now.
So wave ‘C’ is now complete,
and the price is rising in a three wave pattern in wave ‘D’ now.

WAve ‘D’ is expected to reach the 1850 area to complete this three wave rise.
Wave [c] of ‘D’ should trace out a five wave pattern as shown.

Once wave ‘D’ completes,
wave ‘E’ should begin another three wave decline to complete the correction in wave (4).
And then we could see fireworks to the upside in wave (5) over the rest of the year.

One step at a time.

Tomorrow;
watch for wave [c] to continue higher for the rest of this week.
A break of 1831 will confirm this pattern.

Gold must hold above 1782 in order for this pattern to remain valid.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The rally today in crude has actually cleared up the pattern in wave [v] quite well.
The decline on Monday is now viewed as wave (iv) of [v].
And the rally is viewed as wave (v) of [v].

Overall we are still in the final moves of the larger wave (2),
so I suspect wave ‘1’ of (3) will begin this week.
Wave [i] of ‘1’ should fall into the 75.00 area again in five waves as shown.

Tomorrow;
Watch for wave (v) of [v] to finally top out and a drop below 77.40 again will signal wave [i] is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Well,
the rally off Mondays low is now in three waves.
And the price is approaching the corrective range from late last week.
Three waves up to a lower high is the simplest way of spotting a trend change that exists.
I cannot guarantee it obviously,
but it is here none the less!

Where do we go from here.
If the rally continues this week and pushes back above the 4750 area,
that will really damage the bearish impulse pattern for sure.
So I would like to see a return lower into wave ‘iii’ down to begin over the next few sessions.

Tomorrow;
Watch for wave ‘ii’ to complete and then fall back below the wave ‘i’ low to begin wave ‘iii’ down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I have shown the alternate count for wave ‘B’ tonight even though the action does not favor that outcome just yet.
If the new count is gold gets some momentum behind it this week,
it is possible to see silver dragged higher along with that and that will trigger the alternate wave ‘B’ count.

The price has really struggled this week to the upside,
and at the moment I still view this as a corrective pattern higher.
Wave ‘ii’ of (iii) should be followed by a sharp decline in wave ‘iii’ of (iii) this week.

Tomorrow;
Watch for wave ‘ii’ to top out and then reverse into wave ‘iii’ of (iii) by tomorrow evening.
A break of 21.93 will confirm this count.