Good evening folks and the Lord’s blessings to you. FYI; I am really struggling to keep up with emails these days with the kids home from school it is proving difficult to separate out time to get back to people. I will get to you if you have emailed, so hold on!!

EURUSD

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EURUSD daily.

I am looking at the idea that wave ‘a’ is complete as a three wave pattern off the top.
That means todays sideways action is in wave ‘b’ of (a).
And wave ‘c’ should turn lower again next week to complete three waves down in wave (a) blue.

Tomorrow;
Watch for wave ‘b’ to complete a three wave correction higher at about 1.1450,
and from there we should see a turn lower into wave ‘c’.

GBPUSD

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GBPUSD daily.

The same pattern is more pronounced in cable tonight.
there is a three wave correction higher now complete in wave ‘b’ of (a).
Wave ‘b’ must complete a lower high as shown,
and wave ‘c’ should turn lower again tomorrow.
I am still looking for wave ‘a’ of (a) to hit that 1.3000 handle again to complete.
And then later next week a correction sideways would begin.

Tomorrow;
watch for wave ‘b’ to hold below 1.3420 at the recent high.
Wave ‘c’ must fall again in five waves over the following days.

USDJPY.

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USDJPY daily.

the pattern in USDJPY is still looking positive today as the price is holding a higher low above this weeks lows.
While the same uncertainty holds here for this pattern as a result of the failure to hit the minimum target at 139.58,
If the pattern continues to build in an impulsive manner,
that will signal a low is in place for wave ‘2’ and wave [i] of ‘3’ will build higher from here.

Tomorrow;
Watch for that low at 139.85 to hold and wave ‘ii’ to complete a higher low as shown.

DOW JONES.

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I am not going to make any great predictions after todays action.
The same 50/50 probability split is in play here between wave [v] of ‘1’,
or wave ‘B’ of (A).

I will go over the idea again in the video tomorrow,
but so far the resistance at this weeks high is holding and wave (iii) of [v] is still a possibility.
There is a need for more information here,
otherwise I am just filling paper and wasting oxygen!

Tomorrow;
If the price breaks above the wave [iv] high that will trigger the alternate count.

GOLD

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GOLD daily.

I am going out an a limb here with this idea!
risk it for a biscuit as the say!

This action could be viewed as a three wave correction higher into wave (ii) now underway.
Wave ‘c’ of (ii) will hit the 50% retracement level area in this scenario,
that gives a target at about 3380,
and then a turn lower into wave (iii) should take over.

Tomorrow;
Watch for wave (ii) to complete a lower high near 3380 ,
and then next week I will look for wave (iii) down to take over.

CRUDE OIL.

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CRUDE OIL daily.

Crude is working on a lower high in wave (ii) also tonight.
Wave ‘4’ must hold at 64.80,
and then next week wave (iii) down should accelerate lower to break 60.00 again in this scenario.

Tomorrow;
If wave (ii) is finished,
then wave (iii) down will continue lower in five waves to break 61.45 at the wave (i) low.

S&P 500.

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S&P 500 daily.

That settles the dilemma on this chart at least.

Todays action has broken above the recent highs and that has triggered the alternate count for wave ‘B’ now.
Three waves up in wave ‘B’ will probably target 5800.
And wave [c] of ‘B’ is now very much underway here.

Tomorrow;
Wave (iii) of [c] will carry the price higher again still.
And we will have to wait until next week before closing this pattern out I suspect.

SILVER.

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SILVER daily.

Silver looks like it will make another small new high in wave ‘c’ of (ii) tomorrow.
That will complete a five wave pattern internal to wave ‘5’ black.
and then wave ‘i’ down should begin in earnest.

Tomorrow;
I am at the end of my rope with this rally in wave (ii).
and it really is a do or die moment for this wave count.