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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has popped above the trend channel line again today and again I am looking for that top to form in wave (v) of [i].
The price has retraced all of the gains as I write this evening,
and I am looking for an impulsive reversal off the top early next week to confirm wave [i] is done and wave [ii] underway.

there is not enough evidence yet to prove wave (a) is underway here,
but that should come on Monday.

Monday;
Watch for wave (a) to fall in three waves towards support at 1.0886 at wave (iv) blue.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has rallied over the last few days but the price is still holding a lower high in wave (b).
The price broke above the 78.6% retracement of wave (a) today,
and now we see a drop off the session high into the close.
I can’t guarantee that wave (c) is underway yet,
but if the price falls back below the wave ‘a’ high at 1.2865 again that will be enough to call wave (c).

Monday;
Wave (b) has gone further than I wanted for sure,
but the count is still valid.
Watch for wave ‘i’ of (c) to fall back into 1.2865 early next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Looking for a turn higher in the USD has become a very lonely enterprise of late.
After breaking to a new low this morning the price has bounced back to end the day pretty flat overall.
You can see how the price broke below the lower trend channel line to finish wave ‘5’ of ‘v’.
And now a spike rally back into the channel suggests again that a turn higher is coming.

I am going to stay with this wave count until we get a break of support at 139.58.
So at the moment wave ‘i’ up is again a possibility.

Tomorrow;
Watch for wave ‘i’ to finally make progress towards that initial resistance at 151.22.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am looking at a possible (i) (ii) pattern developing off that wave [iv] high today.
The price is holding at a lower high this evening.
and the rally looks like a possible three wave rise into the high.
The test for this pattern comes on Monday,
wave (iii) of [v] must turn lower again and drop back into the 37000 level.
If that happens I will be convinced of the larger pattern in wave ‘1’ down,
and wave [v] of ‘1’ can then complete by midweek.

Monday;
Watch for wave (ii) to hold below the wave [iv] highs,
wave (iii) of [v] should break 38440 to confirm this count.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The rally in gold this week has knocked me back a bit to be honest,
but I am not convinced this rally is much more than a knee jerk reaction as people scramble for something to ride higher.
The same thing happens to gold as to everything else in a deflationary recession.
Liquidity drops, assets are sold and price comes down to meet reality.
That is coming before too long.

Monday;
Watch for wave [v] of ‘5’ to show signs again of a reversal with a drop back into the channel.
2956 now marks the level to watch as confirmation of this reversal.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has traced out three waves up to a lower high today also.
Wave (b) of [b] is holding below the wave [a] high as I write.
And I am expecting a drop into wave (c) on Monday.
That will complete wave [b] in green at a higher low near 58.00.
and from there a rally into wave [c] of ‘4’ will begin.

If this count is correct,
then next week is going to be a choppy sideways affair overall as this correction completes.
If wave ‘4’ blue follows a contracting triangle pattern,
then the sideways action will continue for at least the next week and possibly more.

Monday;
Watch for wave (c) of [b] to drop back into 58.00 to complete three waves down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The same can nearly be said for the S&P tonight.
A lower high is forming in wave ‘ii’ pink,
If this count is correct,
then this is the beginning of wave (v) down now in play.
and wave ‘iii’ of (v) will prove this count on Monday with a sharp turn lower to break 5113 at the wave ‘i’ low.

Monday;
Wave (iv) must hold at this weeks highs.
Wave (iii) of (v) should turn lower and break the wave ‘i’ low at a minimum at 5113.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver continued its rally today in wave ‘c’ of (ii) and the pattern still holds as a three wave correction.
The highs this evening hit the 62% retracement level.
And now I want to see the price turn lower again to begin wave (iii) down on Monday.
Wave ‘i’ should fall into the wave ‘b’ low at 29.32 ideally.
So that is the initial target to signal wave (iii) is underway.
Wave ‘ii’ will form a lower high by Midweek in this scenario.

Monday;
Wave (ii) must hold the lower high and the sooner the reversal start in wave (iii) the better.
Watch for wave ‘i’ of (iii) to fall into wave 29.32 to begin the larger wave (iii) down.