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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is really holding off on reaching that initial target at 1.1255.
The price stepped lower today but there is very little momentum in the action so far.
It is possible that we can see wave ‘i’ and ‘ii’ complete above that target level and then accelerate lower at the end of the week.
But I would prefer to see wave ‘i’ break that level decisively before correcting in wave ‘ii’.
We will see.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to complete a lower high by tomorrow evening and then Friday can bring in wave ‘iii’ down.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at that wave ‘a’ high at 1.3360 now for a target in wave ‘i’ pink.
Wave ‘i’ and ‘ii’ should complete a lower high by the end of this week.
And then wave ‘iii’ of (c) will take over next week in this scenario.

Tomorrow;
The high at wave (b) must hold at 1.3590.
Wave i’ and ‘ii’ will complete a lower high as shown.
And wave ‘iii’ will have to wait until next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

If we look at the wave [c] decline as an ending diagonal instead of a normal five wave pattern.
Then wave (v) blue might make more sense.
the price has dropped in wave ‘a’ of (v) at this wees lows,
and now we are tracking higher in wave ‘b’ of (v).
Wave ‘b’ will top out near 146.00 after a three wave rally,
and then wave ‘c’ down can come in next week with a target at 139.80 again.

tomorrow;
Watch for wave ‘b’ to trace out three waves up to hit 146.00 this week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

At the moment wave (ii) has completed three waves up to a lower high at todays session high.
Wave (ii) topped out just below 78.6%,
and now we have a drop back off that high again to begin wave (iii) down.

We will see if wave (iii) can now confirm the larger pattern by posting a large decline to break the wave (i) low at 41160 again.
and even that is only enough to get this pattern started.
I suspect wave (iii) will fall into the 40000 level to complete.
And from there we can make some projections on the target for wave [i] green.

Tomorrow;
There is still a whole lot hanging on the action over the coming days.
If we don’t see a follow through to the downside in wave (iii).
then I will be forced to question the larger pattern.

Watch for wave ‘i’ of (iii) to fall back below 41880 again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

GOLD is also sitting above the initial target for wave ‘i’ tonight.
I want to see a break of the wave ‘iv’ low at 3279 before wave ‘ii’ begins.
And I am going to hold out on any big projections to the downside until we see a break of support first.
The larger wave (i) requires a larger decline also,
so there is much work to do here before I can get to excited here!

Tomorrow;
watch for wave ‘i’ to break the support at 3279 first before any lower high can build.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude hit the target level at the wave ‘a’ high today.
the wave (ii) correction has retraced into the gap between the 50% and 62% Fib levels at the high also.
And now we have a sharp reversal off that high.
Wave (iii) down sill be confirmed with a break of 60.00 again.
and wave ‘i’ of (iii) should fall into that area.

Tomorrow;
Watch for wave ‘i’ of (iii) to fall back into the 60.00 area to signal that wave (iii) is underway.
Wave (ii) must now hold at 62.32.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

We will have to wait and see if the S&P can hold below the previous highs at wave ‘B’.
The price has dropped slightly off the top of that possible wave ‘ii’ this evening.
I can’t read anything into that yet,
other than we have a small lower high for wave ‘ii’ now,
and if this count is correct,
then we need a large drop off to begin into wave ‘iii’ before the end of this week.

Tomorrow;
Watch for wave ‘B’ to hold at the recent highs again.
Wave ‘ii’ must now top out,
and wave ‘1’ of ‘iii’ must accelerate lower to save this pattern.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The triangle wave ‘iv’ is holding again tonight.
The price dropped into the lower trend line again this evening in wave ‘e’ of ‘iv’,
That should be enough to complete the pattern.
And wave ‘v’ of (c) should turn higher from here.

Tomorrow;
Watch for wave ‘iv’ to complete the contracting triangle pattern as shown.
wave ‘v’ of (c) will top out wave [ii] with a pop above 33.70.