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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A three wave correction up into the trend channel is now complete.
For the moment I am counting this as wave (iv) of [iii].
With wave (v) left to drop into the 1.1600 handle next week.
Wave (iv) must hold below 1.1835 for the main count to remain valid.

The alternate count holds also.
This count suggests wave (iii) is still underway,
and wave ‘v’ should drop further next week to complete five waves down in wave (iii).

Monday;
Watch for wave (v) to begin with a break of 1.1700 and a further lower high in waves ‘i’ and ‘ii’.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Three waves up and a very slight new high today above the wave ‘a’ high at 1.3847.
This action suggests wave (ii) is close to completing,
and (iii) down should begin on Monday.
Wave ‘i’ of (iii) should fall quickly and break 1.3070 to signal wave (iii) is underway.
Wave (iii) should hit the 1.35 handle at a minimum over the coming week.
This is the level where wave (i) and (iii) reach equality.

Monday;
Watch for wave (ii) to top out and then return lower into wave (iii) very soon.
A break of 1.37 is the action that will signal wave (iii) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

We do have three waves down complete into the session low this morning.
But that low was achieved after a three wave decline.

Tonight I am looking at a possible flat correction underway in wave ‘b’,
This pattern should complete at 110.84,
and then wave ‘c’ down is expected to fall into the lower trend line at about 110.20.

Monday;
Watch for wave ‘c’ to begin and fill the trend channel once more.
Once we hit that lower channel line,
I will begin to look higher into wave (v) of [v] of ‘3’ next week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Todays spike to a new high is labelled as wave ‘i’ of (c) of [v].
Wave [v] seems to be tracing out a simple zigzag pattern higher now,
so wave (c) of [v] should rally in five waves to complete at the upper trend line next week.

Even though this ending diagonal has extended and extended higher.
the basic tenants have remained present.
Each wave is progressively smaller within the structure.
Each internal wave is tracing out three waves.
And the overall wedge pattern is holding.
So this is a BIG ending diagonal,
but the key is in the name – it is the closing pattern of a much larger rally off the lows of last March.

And because of that,
I am sticking with the overall bearish thesis here.
Wave [v] will end,
and then the opening salvos will fire to begin the next battle.

Monday;
Watch for wave ‘ii’ of (c) to create a higher low above the wave (b) low at 32960.
Wave ‘iii’ should carry the price up into the trend channel line above.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The commodities markets were closed today so the main count remains in place until wee see the action on Monday.
One thing to watch,
wave ‘v’ of (c) could complete below the wave ‘b’ low at 1745,
and then drop into wave [v] sooner than expected.
This would favor a running flat wave [iv].
Wave [v] is still targeted into the 1650 area after a five wave decline next week.

Monday;
Wave (c) should complete by Monday evening.
A break of 1700 again will signal wave [v] is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The crude oil market was closed also today.
the pattern calls for a rally in wave (C) to complete with a break of 62.20 on Monday
and then wave [iii] down will begin.
A break of 58.80 again will signal wave [iii] down is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Wave ‘iii’ of (c) pushed up towards the minimum target at 4068 today.
the high of the session reached 4047.
Wave ‘iii’ will reach equality with wave ‘i’ and that 4068 high.
Then we can expect a small correction in wave ‘iv’ before the final high for wave ‘v’ of (c) will be hit later in the week.

Monday;
Watch for wave ‘iii’ to continue higher on Monday.
The price must now hold above the wave ‘i’ high at 3977.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The silver market was closed today so I am expecting wave (iv) to close out on Monday as a three weave rally is now topping out.
Wave (v) of [iii] should fall back below 2375 at a minimum.
But I would like to see more downside in wave (v).
A break below 23.12 is where wave [iii] reaches equality with wave [i].

Monday;
Watch for wave (iv) to top out below 25.23 and reverse into wave (v).
A break of 24.23 again will signal wave (v) is underway.

I pray the Blessings of God Almighty upon you all this Resurrection weekend!
The tomb is empty,
and the Messiah is risen!

Shalom,
enda.