---

Hello and good evening mes amis!

---

EURUSD.

---

EURUSD 1hr.

---

We are rapidly moving through wave ‘2’ now!
The price did not create that larger three wave correction in wave [b] that I was looking for.
Instead we got a sharp rally today in wave [c] of ‘2’.
This rally in wave [c] is close to completion now,
the internal structure is tracing out five waves as you might expect in wave [c].
And the rally has now brought us up close to the 50% retracement level at 1.1062.

Tomorrow;
If wave ‘2’ is completing soon,
then wave ‘3’ should be expected to start next week.
Watch for wave [c] to close out between 1.1062 and 1.1163 at the 62% retracement.

---

GBPUSD

---

GBPUSD 1hr.

---

Cable moved sharply higher this morning out of the overnight lows.
The action yesterday was confusing because of that sharp move lower off the trend channel line.
The price went on to create a contracting triangle overnight,
this is likely a small wave ‘iv’ within wave (c).
And todays rally is wave ‘v’ of (c) which should complete the larger wave [iv] correction.
If the price moves back below that wave ‘iv’ low at 1.1820 tomorrow,
that should be enough to signal wave (i) of [v] has begun.

Tomorrow;
Watch for wave (c) to top out and return lower to begin wave [v] down.
Wave [v] should break the recent low at 1.1404 next week.

---

USDJPY.

---

USDJPY 1hr.

---

USDJPY moved lower in a convincing fashion today
which suggests that top is now in for wave ‘C’ and (D).

I am expecting a three wave drop into wave [a] over the coming days.
And this move is already well underway.
Waves (a) and (b) were three wave moves and completed yesterday.
And wave (c) of [a] is tracing out a five wave move lower,
wave (c) has just broken below the previous wave [iv] low this evening also.
So we are close to a bottom in wave [a] going by this pattern.

Wave [b] should correct higher in three waves early next week most likely.
and then we should see the final move lower in wave [c] of ‘A’ later next week.

This all needs time to work out,
so one step at a time.

Tomorrow;
watch for wave (c) of [a] to find a low around 108.50,
and then we should see a rise in wave [b] tomorrow.

---

DOW JONES.

---

DOW 1hr.

---

I have switched to the alternate count today for the DOW.
This does not change the outlook one bit really.
Only the current correction sideways is now viewed as wave (B)
rather wave ‘4’.

I expect similar action overall in wave (B).
And once that completes over the coming week or 10 days,
then we should see another leg down in wave (C).
This action will complete a three wave pattern lower in a larger wave [A].

Tomorrow;
Wave ‘A’ up is almost done now.
The action is closer to a five wave rally as shown in the hourly chart.
Wave ‘B’ should ideally begin tomorrow,
and then fall in three waves to a higher low at about 19000 or so.

Wave ‘A’ up has reached the 38% retracement of the decline,
this level should be enough to top off the rally and begin wave ‘B’.

---

GOLD

---

GOLD 1hr.

---

Gold broke above the previous high at wave ‘iii’ today and is falling again this evening.
It is possible that the slight now high today
has now completed a five wave rally in wave (iii) as shown.
If this count is correct,
then wave (iv) should now fall in three waves back to 1590 again.
And then wave (v) will be ready to attack that recent high at 1700 over the coming week.
If wave (iv) is now underway,
then we should remain in a corrective phase for another few days before wave (v) begins.

Tomorrow;
Watch for wave (iv) to continue lower towards 1590.

If this decline halts above 1595 and reverses higher,
that will signal wave (v) is beginning ahead of time.

---

CRUDE OIL.

---

CRUDE OIL 1hr.

---

Crude is dropping out of the triangle correction this evening as suggested by last nights wave count.
The price continued the range contraction and stopped in wave (e) at a lower high.
So wave [iv] is now considered complete.

Wave [v] should fall again back below the 20.00 level again at a minimum.
And that decline should trace out a five wave pattern lower.

Tomorrow;
Watch for wave (i) and (ii) to create a small lower high below 25.40 at wave [iv].
25.40 must hold from here on as wave [v] develops.

---

S&P 500.

---

S&P 500 1hr

---

I have not adopted the same three wave pattern in the S&P as in the DOW today.
The count in the S&P is working fine as a five wave decline in wave (1) for the moment.
And both counts expect a correction higher,
followed by another leg down beginning later on next month.

The only change this evening is the fact that wave ‘A’ up, has traced out a five wave rally into this evenings highs.
This rally should be mostly retraced next week in wave ‘B’ as shown.
And then wave ‘C’ should push up in five waves towards that 50% Fibonacci retracement level at 2788.

Tomorrow;
Wave ‘B’ should get underway soon.
It would not surprise me if we see some serious selling begin tomorrow,
as traders try to liquidate before the weekend.
So, watch for wave [a] down to begin with a possible target at 2400 where the previous wave [iv] completed.

---

SILVER.

---

SILVER 1hr

---

Silver is again dead in the water today holding near the highs of the week.
One thing of note is happening,
the action is contracting over the last few sessions.
so this could suggest a triangle is underway within wave [c].
I have labelled this as wave (iv) of [c].
Which means that wave (v) should push to a new high tomorrow.

Tomorrow;
Wave [c] of ‘4’ should top out below 16.38 at the previous wave ‘1’ low.
Watch for one final high in wave (v) of [c] tomorrow.

---

---