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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is struggling to reach the target for wave ‘ii’ at 1.14 again today.
I do think a three wave correction to the upside is still the best way to describe the action at the moment.
So once again,
I am looking at the top of wave ‘ii’ at 1.1400 followed by a turn down into wave ‘c’ pink later this week.

Tomorrow;
Watch for wave ‘c’ to hit the upper trend channel line at 1.14 and then we should see a sharp turn lower again to begin wave ‘c’.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has dropped off that wave ‘b’ lower high today.
This action allows a little breathing space for the current pattern.
Wave ‘c’ of (a) should continue lower over the coming days in a five wave pattern in this scenario.
and I want to see a low in wave (a) hit 1.3100 to complete three waves down.

Tomorrow;
The highs at wave [i] must hold.
Wave ‘c’ of (a) should continue lower as shown in five waves.
A break of 1.3253 will confirm this pattern.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is teasing me today as the price has failed to break the wave ‘b’ low at 141.97.
If that level breaks,
that will confirm this new pattern and I will gladly follow wave (v) down to complete the larger pattern.
So far we are still working with a new but unconfirmed pattern.
So I am treading softly here!

Tomorrow;
Watch for wave ‘iii’ of (v) to continue lower towards 1.4000 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

This is an speculative look at a possible reversal pattern in wave ‘i’ and ‘ii’ tonight.
The action today has moved sideways without much push in favor of any direction.
I am suggesting that this is wave ‘ii’ of (i).
With wave ‘ii’ completing a three wave rally to a lower high below 41400 tomorrow.
That will be followed by a sharp decline into wave ‘iii’ of (i) by Fridays close.

Tomorrow;
WAtch for wave (i) down to continue lower this week towards the previous wave (iv) low at 39730 again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

There is a new pattern for wave (a) and (b) that I want to explore tonight.
The price has hit a lower high so far at 3434.
I have marked that high as wave (b) of [a].
Wave (b) completed an expanded flat correction in this scenario.
And wave (c) will continue lower in five waves over the coming days if this pattern is correct.

Tomorrow;
Watch for wave (b) to hold the lower high and for wave (c) to fall in five waves to break 3250 at a minimum.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude made a sharp turn off Tuesdays high today which suggests wave (a) is complete at 59.99.
The reversal is labelled as wave ‘a’ of (b).
Wave (b) should fall in three waves and I am looking for a low in wave (b) at about 56.50.

Tomorrow;
Watch for wave (b) to trace out three waves down by the end of this week.
Wave ‘b’ of (b) should bounce tomorrow,
and then wave ‘c’ can fall again on Friday.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is stuck in a rut today without confirming the turn into wave (i) yet.
Wave [i] green has not taken control of the action so far this week.
But neither has a renewed rally in wave [c] of ‘B’.

So I can’t add a whole lot to the picture tonight,
I am just sitting patiently until the next move reveals itself.

A drop below the wave (iv) low at 5430 will favor wave (i) of [i].
While a break of 5700 will put us back in wave [c] of ‘B’ again.

Tomorrow;
I am just going to wait and see how this plays out.
I have no problem with either outcome here to be honest.
If the market turns higher again then I will look for a top in wave [c] at the 100% Fib at 5785.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has traced out three waves up in a trend channel
and the price has created a lower high in wave ‘ii’ pink.
The market has turned lower this evening again,
this action suggests a turn into wave ‘iii’ is now possible.
A break of 31.63 again will give a welcome boost to the main pattern,
so lets see if that can happen soon.

Tomorrow;
Watch for wave ‘ii’ to hold at this weeks high.
Wave ‘iii’ must accelerate from here into the end of the week.
A break of 30.00 again will confirm this pattern.