Good evening folks, the Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has spent another day essentially flat sitting just above the 1.06 handle.
The price has not turned up into wave (ii) yet,
but a correction higher in wave (ii) is still my base case scenario here.

the market seems to have found some support at the currecnt level.
So I am viewing this as a sign that wave (i) is complete now.
And wave (ii) should begin soon,.

Tomorrow;
Watch for wave (ii) to push higher in three waves over the coming days.
I have marked the wave (d) level as a possible resistance level to aim for in wave (ii).
So that gives a target at 1.0724 to complete wave (ii).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A similar no event day in cable I’m afraid!
the low of wave (i) has hit 1.2405 now,
and I am still waiting for the reversal higher into wave (ii) to begin.
Wave [i] lies at 1.2537,
the 50% retracement of wave (i) blue lies at 1.2557.
so that offers a very obvious target area for wave (ii) to aim for.

Tomorrow;
Watch for wave ‘a’ of (ii) to turn higher and then hold above the wave (i) low throughout the session.
Wave ‘b’ should form a higher low by tomorrow evening.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has created a double top this evening while hitting the upper trend channel line again.
This pair is not showing much weakness yet,
but I do have a completed pattern for wave (i) into the current highs.
I have picked out the top of the previous wave ‘iii’ high as an initial target for wave ‘a’ of (ii) now,
So that suggests wave ‘a’ will trace out three waves down into 152.00 at least over the rest of this week.
Until the pattern progresses here,
its just a matter of patience.

Tomorrow;
Watch for wave ‘a’ of (ii) to fall in three waves at least.
If we see a break down through the rising trend channel again that will be a good sign that the turn is in.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market is holding above Mondays lows this evening and I am going to take a gamble here to call wave [i] done here!

that small higher low is labelled wave ‘a’ and ‘b’ to begin wave (a) to the upside.
But we need a further rally tomorrow to call wave (a) complete.
I am looking at the 38400 area to complete wave (a),
and then wave (b) should turn lower again.

We are a little short on actual price action here to make any big calls for wave [ii] yet.
At this stage it looks like a slow and steady climb into wave [ii] is going to be the plan here.
We will see how the pattern develops over the next few days.

Tomorrow;
Watch for wave (a) of [ii] to continue higher in a three wave pattern to hit the 38400 area.
The alternate count is still a viable option here,
and I cannot rule it out.
If we see a further step lower to break the lower support at 37120 that will trigger the alternate idea.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

gold is still holding a lower high below the wave (iii) top today but there is no more progress to the downside yet.
I am still going to view this as wave ‘a’ and ‘b’ forming the lower high,
but this needs to be confirmed with another drop into wave ‘c’ this week.
And the sooner this happens the better.

Tomorrow;
Watch for wave ‘c’ to turn lower and break below 2324 at a minimum.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I am beginning to get skeptical of the short term pattern in crude oil today as the market continues to refuse to accelerate lower into wave ‘iii’.
The main pattern has not been invalidated yet,
but the lack of progress is definitely a little worrying now.
There is still a possibility that the ending diagonal rally in wave [c] of ‘2’ will make one more high to extend the pattern.
And if the price breaks higher tomorrow I will switch to that idea.
I am willing to allow this pattern the time to proven correct or proven wrong.

Tomorrow;
Watch for a break below 83.00 again to signal that wave ‘iii’ of (i) is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The action today is quite corrective looking and this does suggest wave ‘iii’ of (iii) is still in play here.
the correction is labelled wave ‘4’ of ‘iii’,
with wave ‘5’ of ‘iii’ yet to begin.

The session low today is 5037,
and wave ‘5’ of ‘iii’ should break that level to complete that pattern.
I can then look higher again into wave ‘iv’ for the rest of the week as shown.

tomorrow;
The wave ‘i’ low at 5143 must hold for this pattern to remain valid.
Watch for wave ‘5’ of ‘iii’ to break below 5037 at a minimum.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver did make some progress into the corrective pattern today,
with a small decline off that wave ‘b’ high.
Wave ‘c’ should trace out a five wave pattern lower from here.
And I have labelled todays drop as wave ‘1’ of ‘c’ of (a).
I have suggested a target for wave (a) at the 26.00 level where the initial support lies.
So there is a lot of work to do to confirm this pattern.

Tomorrow;
Wave ‘c’ must continue lower in five waves as shown.
A break of the wave ‘a’ low at 27.56 will signal wave ‘c’ is underway.