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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The pattern in EURUSD continues to suggest a turn down into wave [ii] is underway.
The action has stalled over the last few days though,
and I am still trying to figure out the pattern into wave (a).

There is a possible three wave correction higher into wave ‘b’ underway here,
and that correction will complete near 1.1450 in this scenario.
then wave ‘c’ should take over and continue lower later this week.

Tomorrow;
Watch for wave (a) to fall in three waves overall this week.
wave ‘b’ should complete tomorrow,
and then wave ‘c’ can turn lower from 1.1450.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has pushed to the previous highs again today and that puts the action back into wave (v) up again.
I am now forced to wait for a turn lower again to begin wave [ii] green.
That correction will come.
And I think wave [ii] will target the 1.2600 area again when complete.
for the moment I am forced to wait and see.

Tomorrow;
the price is back to the October top from last year again today and that should act as resistance again.
Let’s see if it is enough to turn the price lower into wave (a) of [ii] this week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is now being tested as the price is dropping to a higher low this evening.
I am suggesting that wave ‘ii’ is completing this evening,
and if I am correct here,
then wave ‘ii’ will complete above last weeks lows at 139.85,
and wave ‘iii’ will turn higher again as shown.

Tomorrow;
Watch for wave ‘ii’ to hold the higher low as suggested and wave ‘iii’ should accelerate higher again maybe even by tomorrow evening.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I have switched to that triangle idea for wave ‘B’ tonight in order to flesh out the pattern and see if the action continues in that vein.
The previous pattern has not been invalidated yet,
but it is worth giving this pattern some air to breath!

If this triangle proves correct over the coming days,
then we will see a continued contraction in the price range with almost zero net gain for most of this weeks trade.
Wave ‘B’ will complete very close to the current levels at 40000,
and from there we will see a rapid turn lower into wave ‘C’.

Tomorrow;
Watch for a drop in three waves in wave [d] of ‘B’ as shown.
Wave [d] will hit the lower trend line at 38800.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The action in gold today favors the idea that wave ‘ii’ is complete at this evenings highs.
I can see three waves up to form a lower high below the wave (ii) high.
If this pattern is correct,
then we will see a turn lower into wave ‘iii’ down starting tomorrow.
And the high at 3370 will hold at wave (ii) blue.

Tomorrow;
Watch for wave (iii) to be confirmed with a turn lower into wave ‘iii’ to break 3260.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

crude has completed three waves up at wave (ii) at 63.63.
And now the price has turned lower again in a pretty sharp fashion.

this action suggests that wave (iii) of [i] is now underway.
Wave ‘i’ and ‘ii’ will form a lower high tomorrow and wave ‘iii’ of (iii) will do most of the hard work in bringing the price back below 60.00 again.

Tomorrow;
Watch for wave (ii) to hold at 63.63.
Wave ‘ii’ must complete below that level.
wave ‘iii’ down will break back below 60.00 again in the coming days.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am not reaching out to far in this pattern by suggesting an internal pattern for wave [c] of ‘B’ yet.
The action is pretty flat today,
and the lack of acceleration in wave (iii) does not fit well with a third wave acceleration idea for wave (iii).

The rally in wave [c] of ‘B’ may be working out a different internal pattern here,
and that will reveal itself over the coming days for sure.
So I will wait for more confirmation on that pattern before jumping to conclusions.

Tomorrow;
Lets see if wave (iii) can accelerate higher as suggested.
If that does not happen,
then I will rethink the idea for wave [c] of ‘B’ again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is moving quite correctively today and that is inline with a possible turn into wave ‘i’ of (iii).
I am suggesting that wave ‘`1’ and ‘2’ of ‘i’ are developing here,
and wave ‘3’ of ‘i’ will turn lower again to break 32.00 to confirm this pattern.
The larger wave ‘i’ pink will drop in five waves to hit 30.78 in an ideal pattern.
And that will happen this week if I am correct.

Tomorrow;
watch for wave ‘3’ of ‘i’ to turn lower and fall below 32.00 again to confirm this pattern.