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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has hit a point of resistance at the previous wave ‘b’ high today.
And we see a small drop off after yesterdays rally.
I am looking at this as a correction within wave ‘3’ of ‘c’.
It looks like a choppy ride from here to complete wave ‘c’ with a run up to 1.0950 to complete the pattern.
Wave (c) of [b] will complete at that point.
And the triangle turns lower into the next leg of the five wave pattern.
WAve (d) will turn lower next week.
And we should see three waves down into the 1.0700 area.

Tomorrow;
Watch for wave ‘3’ to close out with a run up to 1.09 and then wave ‘4’ of ‘c’ will correct again back towards 1.0850.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable hit that same resistance wall at the wave (iv) high at 1.2710 today.
That sharp drop takes the wave ‘iv’ label,
and wave ‘v’ will complete the pattern in wave (c) of [ii] soon.
Wave [ii] will likely close out the trend channel near 1.2750 again and then I will begin to look lower into wave (i) next week.

Tomorrow;
Watch for wave ‘iv’ to hold at todays lows.
And then wave ‘v’ can top out over the next few sessions.
A break of the wave (a) high at 1.2570 again will signal that wave (i) down has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

It has been a very eventful road to nowhere this week in USDJPY.
The price has now retraced much of the wave (ii) decline.
The rally is impulsive looking and I am suggesting this is wave ‘i’ of (iii) now in play.
A break of the wave (i) high will confirm this pattern.
but one step at a time.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to create a higher low above the wave (ii) low at 153.60.
If this pattern holds,
then we can look forward to an acceleration higher in wave ‘iii’ of (iii) of [v] next week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It is quite likely that I am just over zealous on the bearish side here,
but I do think this is a viable count for wave [v] green.
The alternate idea for wave (iv) and (v) hold equal weight so I am not going to cling on for dear life to this wave count.
But it is interesting to play this out either way.
A five wave pattern is in place into the session highs today,
and this evening the price has let off the highs again.
A sharp decline will favor the main count.
And a corrective grind lower from here will favor the alternate wave (iv) idea.

Tomorrow;
the trade over the next few sessions will chose between the counts.
so lets see if tomorrows action gives us an impulsive sell-off to signal the top is in for wave [v].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

A small retreat off this weeks high today has not proved the top is in yet.
If the reversal continues tomorrow that will give a boost to the idea of a reversal for sure.
I have marked the initial support at 2331.
and a break of that level will signal wave ‘c’ has begun.
We should see a five wave pattern lower into wave ‘c’ of (iv).
and if this pattern holds,
then next weeks trade will be dominated by wave ‘c’.

Tomorrow;
watch for that wave ‘b’ high to hold.
A break of 2331 will signal that wave ‘c’ has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The rally in crude has failed below the wave ‘a’ high at 79.63 now.
I am going to give this pattern another day to see if wave (iv) can complete an expanded flat correction with a break above 79.63.
As it stands,
wave (iv) has traced out a running flat correction,
and that is at least one possible count for wave (iv).
The action from here will decide between both of those ideas.

Tomorrow;
A sharp decline below 76.74 again will signal wave (iv) is complete and wave (v) has begun.
Lets see if the wave ‘a’ highs at 79.63 will break or not.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has traced out another small five wave pattern into this weeks highs to close out wave ‘v’ of (iii).
Wave (iv) should now take over and fall in three waves back into the previous wave ‘iv’ lows at 5190 again.
next week will bring another rally in this scenario,
and that will close out the market at an all time high in wave (v) of [v] of ‘C’ of (B), again!

Tomorrow;
Wave (iv) should begin with a drop back into 5350 in wave ‘a’ of (iv).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The wave [ii] pattern is now confirmed as an expanded flat correction today.
Wave ‘c’ of (b) is not yet complete,
wave ‘5’ of ‘c’ of (b) will pop higher tomorrow to complete the new high.
Wave (c) can then begin a five wave decline over the coming weeks.
Wave (c) should drop below 26.00 now as required by the pattern.

tomorrow;
Watch for this rally in wave ‘c’ to top and then fall back in wave ‘i’ of (c) towards 27.90.