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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A possible reversal on the cards tonight for EURUSD.
The price hit a high at 1.0852 at the wave ‘3’ high.
This new wave count requires another step higher in wave ‘iv’ and ‘v’ to complete wave ‘iii’ pink.
And if wave ‘4’ is beginning now,
then wave ‘5’ will have to wait until next week to close out this rally.

Tomorrow;
Watch for wave ‘4’ of ‘iii’ to trace out three waves down towards 1.0700.
wave ‘4’ must hold above 1.0531 at the wave ‘1’ high.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is holding at the highs of the pattern tonight in wave ‘v’ of (iii).
I can’t say that wave (iii) is complete yet,
as there is no evidence of a reversal underway yet.
But,
given the fact that the rally this week is already well extended here,
that is a hint that we are pretty close to a top out in wave ‘v’ of (iii) now.
And we should see wave (iii) top out by Fridays close.

Tomorrow;
Watch for wave ‘a’ of (iv) to turn lower soon.
A drop below 1.2800 again will signal wave ‘a’ is in play.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is close to hitting a low in wave ‘v’ of (c) now.
If we look at the decline in wave (c) as an ending diagonal,
where wave (c) traces out a wedge pattern with internal 3 wave structures.

Then,
tonights lows complete a three wave pattern in wave ‘v’ of (c).
And if this is correct,
then wave (i) of [iii] should turn higher pretty soon.

Tomorrow;
Watch for wave (c) of [ii] to close out near 146.90 at the 62% retracement of wave [i].
And from there I will look higher into wave (i) blue again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW did complete a three wave correction in at the highs today.
I have labelled that top as wave ‘iv’ of (i).
If that is correct,
then wave ‘v’ down is underway now after a drop back to the lows of the session.

Wave ‘v’ is suggested to drop into the support at 41730.
And a break of that level would be an ideal way to complete wave (i) blue.

Tomorrow;
Watch for wave ‘v’ of (i) to continue lower as shown.
Wave ‘iv’ should hold at todays high if this count is correct.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is holding below the top again today and as long as this high holds,
then I can suggest that wave [c] down is in play here.
The price needs to drop into the wave ‘1’ lows at 2830 to give this count a chance to develop in wave ‘i’ down,
So at the moment I am still holding my breath!

Tomorrow;
Watch for wave ‘3’ of ‘i’ to drop again to break 2830 at a minimum.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I have updated the count in crude to show wave (iii) of [iii] complete at todays lows.
The price is very close to breaking to a new low for the year now.
And that will happen with a break of 64.80.
I am not surprised that there is support at the current levels given that wave (1) green is so close.
But I would prefer to see a break of that support as wave [iii] completes next week.

Tomorrow;
Watch for wave (iv) to complete three waves up as shown.
The wave (i) low at 68.27 must hold.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has dropped again today to make a new low for this decline.
There is a reasonable chance that wave ‘2’ completed at last nights high.
And now this decline is the beginning of wave ‘iii’ down.
This idea is not yet proven correct,
so I will reserve judgement on that one until we see a more convincing decline in wave ‘iii’ as shown.

Tomorrow;
Support lies at 5694 at the previous wave (iv) low.
If we can break that level the count will become that much more convincing as a third wave decline.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am losing faith in this wave (i) pattern today as the market refuses to drop back into the wave ‘i’ low yet again.
The wave count is not invalidated yet,
so I can give this one another chance tomorrow to prove itself or to rule the pattern out.

Tomorrow;
Watch for wave ‘1’ of ‘iii’ to turn lower again and and drop below 32.00 to at least give this idea a chance.