Good evening folks, the Blessings of the Messiah to you on this passion week.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD moved lower today out of a sideways correction on Monday.
Mondays correction is labelled wave ‘iv’,
but I am not sure what form that correction took.
Todays decline has broken the minimum target for wave (iii) at 1.1735.
This level is where wave (iii) and (i) reach equality.
The decline can still go on in wave ‘v’ of (iii),
but I suspect we will see wave (iv) begin soon.
this correction should push back into the declining trend channel again.

Tomorrow;
Wath for wave ‘v’ of (iii) to complete with a break into the 1.16 handle again.
Wave (iv) will then correct higher for a day or so before wave (v) resumes the decline.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

cable has declined in three waves off the wave (ii) high so far.
I am counting this as the beginning of wave (iii) down.
I want to see wave ‘iii’ of (iii) accelerate lower for the rest of the week and push towards that 1.35 handle again.

The main alternate I have for wave (ii) will allow for a larger zigzag pattern to develop.
A break of 1.3784 will trigger that alternate wave (ii) scenario.

Tomorrow;
Watch for wave ‘iii’ to break 1.3669 to confirm the main count.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY continued its run higher today in wave ‘v’ of (iii).
the main target for the larger wave [v] lies at 110.79.
And todays high reached 110.41.
So we are in the ballpark for a top to begin to form now.
I am allowing for another wave (iv) and (v) to happen over the coming few sessions.
But I want to see the wave ‘iv’ low at 109.35 to hold now.
If that level breaks,
that will suggest wave ‘4’ is underway.

Tomorrow;
Watch for wave (iii) to top out soon,
and wave (iv) to fall off the top in three waves.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Overall the pattern I am working with now is calling for three waves up to complete in wave [v] green near 33700.
The Dow is retreating off a double top at the all time high today.
So the top at wave (a) of [v] seems to be in now.
And wave (b) may well be underway now off that top.

Wave (b) of [v] should find support in the area of the previous wave (b) of [iv],
after a three wave decline.
That will bring the market down to between 32790 at wave (b)
and 32650 at the 50% retracement level.

If this pattern goes well,
then wave [v] should be a clear three wave pattern,
so I expect wave (c) to push higher again by the end of this week.

Tomorrow;
Watch for wave (b) to fall in three waves over the next 2 sessions.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The more Gold drops now,
the more bullish I become!

Gold is now entering the final phase of this decline in wave ‘C’ of (4).
Wave ‘C’ is close to completing five waves down.
And wave [v] of ‘C’ is close to completing wave (iii) of a five wave decline.

Wave ‘iii’ of (iii) accelerated lower today as the count suggested.
And wave ‘iii’ itself now has a clear five wave pattern internally.
So we should see a corrective wave ‘iv’ tomorrow,
followed by another step lower into wave ‘v’ of (iii).

There is not much action left to complete this pattern at this point.
One more corrective wave (iv),
and another drop into the 1650 area to complete wave (v) of [v] of ‘C’ of (4).
I think we will find that low next week.
And then we are set to look higher for the long term!

Tomorrow;
Watch for wave (iii) to complete by tomorrow evening with a drop into 1676 at the previous wave [iii] low.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The question here is this;
A bearish impulse wave is now complete.
Will we get a follow-through into wave [iii]?

The price fell off the top of the trend channel in wave [ii] again today.
And at the moment it is possible to view this decline as wave ‘i’ of (i) of [iii].
This count is very bearish for the next few weeks at least.
As it sets up a larger third wave decline which can easily fall back into the 50 handle again in a short space of time.

So,
the next few sessions are crucial.
Wave (i) down must now continue lower in five waves back into the recent low at wave [i].
And if that happens,
we will be right on course for a large acceleration lower in wave [iii] for next week.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to complete a lower high below Mondays high at wave [ii].
Wave ‘iii’ of (i) should push back below 58.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am looking at a five wave pattern up in wave (c) for the next few days.
The price is now completing a ‘i’ ‘ii’ higher low to begin wave (c).
and wave ‘iii’ of (c) should carry to a new all time high later this week.

The upper trend line suggests a top for wave (c) of [v] at 4120 or so.
And that will coincide with the Fibonacci target for wave (c) also.

Tomorrow;
Watch for wave ‘ii’ to complete a three wave correction tomorrow in the area of 3930.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver back below 24.00 again suggests hat wave [iii] is now well underway.
The larger wave (i) and (ii) idea from last night did not hold up today,
instead I am now looking at an extension lower now forming in wave (v) of [iii].

Wave (v) should fall into 23.10 at a minimum.
that is the level where wave [iii] green reaches equality with wave [i] green.

Tomorrow;
I want to see the price hold below 24.40 as wave (v) completes.
Wave [iii] should complete by the end of this week.

The wave count in silver is not as well progressed as in gold now,
so I think we will have another couple of weeks of declines and corrections ahead of us.