Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The trade in EURUSD is pretty flat today and this action is in line with a possible fourth wave as shown.
If wave ‘4’ of ‘i’ is now underway here,
then that wave will likely remain in play for tomorrow also.
That will bring the size of wave ‘4’ into proportion with the wave ‘2’ correction.
And then wave ‘5’ will be left to complete the pattern in wave ‘i’ as shown.

Tomorrow;
Watch for wave ‘4’ of ‘i’ to complete and then wave ‘5’ of ‘i’ to push lower later on Tuesday or Wednesday.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable turned higher tomorrow in line with a second wave retracement.
The price is now back at the 38% retracement level again in wave ‘ii’ although a three wave pattern is not complete here yet.
I am suggesting a possible three wave pattern higher into the 50% retracement level for wave ‘ii’.
and that gives a target at 1.2560 for wave ‘ii’.

Tomorrow;
Wave ‘a’ of ‘ii’ may be complete at todays highs.
Wave ‘b’ and ‘c’ are left to complete the larger pattern for wave ‘ii’.
that should take at least another session,
so this pattern could be done by tomorrow night if all goes to plan.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Three waves up are also compelte at todays highs in USDJPY.
The price has just broken above the 62% retracement level of wave (i).
But there is no big sign that wave (ii) is done yet either.
I want to see a spike lower off the highs to begin wave (iii).
But only a break below 133.50 again will confirm wave (iii) is underway.
So we have some work to do here before wave (iii) can take over.

Tomorrow;
Watch for wave ‘i’ of (iii) to drop back into the 134 handle again so signal a turn is underway.
The price must hold below 137.79 for this pattern to hold.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action today is inconclusive to be honest.
There is nothing today to make a decision between the main count and the alternate yet.
I can still run with the main count until another sharp step lower comes to break support at wave ‘i’.

The ranging action over the last few sessions has possibly completed a triangle correction in wave ‘b’ of ‘ii’ this evening.
The count suggests wave ‘c’ of ‘ii’ will run higher again tomorrow to break 33780.
At that point the pattern will be complete and we can look lower again into wave ‘iii’ down.
If this pattern is correction it’s going to be a choppy few days ahead,
with a sharp reversal later in the week as wave ‘iii’ takes over.

Tomorrow;
Watch for this traingle wave ‘b’ to hold at todays lows.
Wave ‘c’ should continue higher into 33780.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is dead in the water today and I can only describe this action as a correction really.
the price has yet to fall into a third wave acceleration lower in wave (i).
And to be honest I am starting to get a little concerned here for this count.

The 4hr momentum indicators actually agree with the idea of a serious turn down in play here.
With both MACD and RSI already negative for the last few sessions.
This comes after falling from a lower high in momentum at wave (v) of [v].
All this points to a turning point in the pattern.

So I still wait for that turn to show its ugly head in wave ‘2’ red this week.

Tomorrow;
Watch for wave ‘iii’ of (i) to take the price back below 1976 to confirm the short term pattern.
Wave ‘iii’ should fall into the 1950 area to complete.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has turned higher today in a possible wave ‘ii’ of (i).
That second wave will most likely track sideways for another session to complete a clear three wave correction to a lower high as shown.
If that lower high builds as expected in wave ‘ii’,
then wave ‘iii’ will turn lower to break 67.00 again later in the week.

Tomorrow;
Watch for wave ‘ii’ of (i) to complete a three wave correction below 73.80 by Wednesday at the latest.
This pattern will be confirmed with a break below 67.46 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I’m afraid that the alternate count has received a little boost today by the lack of action rather than anything else!

The market has gone nowhere again today and because of that there is the possibility of a triangle forming as shown by the trend lines.
IF the triangle is correct,
then todays low will hold and wave ‘v’ will head higher to break 4198 again.

It’s pretty simple in this short term count now.
I have marked the wave ‘1’ low at 4098 as initial support for the hourly pattern.
If that level breaks then the alternate pattern will lose its weighting.
And I can go ahead with the wave ‘iii’ of (i) count.

In this scenario,
wave ‘iii’ of (i) will fall back below 4000 with ease this week.

The market will decide between these ideas pretty quick I suspect,
so tomorrows trade will be important for that reason.

Tomorrow;
Watch for wave ‘3’ of ‘iii’ down to break below 4098 again to confirm the main pattern.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The price action in silver today is corrective in nature and in line with the wave (iv) suggestion.
However,
it is impossible to know if wave (iv) is complete at todays highs.
There may be a more complex pattern developing here so its too early to tell at the moment.
I am expecting one more step lower in wave (v) of [i] to complete wave [a] this week.
And if that happens,
then I can begin to look higher again in wave [ii] as shown.

Tomorrow;
for the moment the main count is working well but I think there is more work to do in wave (iv) before that correction is done.

Watch for wave (iv) to close out in the next few sessions as a clear corrective pattern.
An impulsive drop back below 23.70 again will signal wave (v) is done.