Hello all,

May the LORD of all creation Bless you all tonight,

I have some bad news for you, well not so much!

I am going to take another few nights off next week for another little mini break with my family.

We are heading to visit some friends for three nights starting Monday.

So I will be back to the updates on Thursday again. I am sorry about the break, but that will be it until next year!

So bare with me please!

Ok here we go!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD may well be close to completing that fourth wave correction after all.
Todays high has completed a possible five wave rally.
Wave (c) did break the wave (a) high and in doing so this completes an expanded flat correction.
And today the price spiked lower off the high.
This is not a guarantee that wave [iv] is complete,
but it is a signal that should not be ignored at least.

Monday;
If wave [v] is now underway,
then wave (i) of [v] should push lower and break 1.1751 again.

Watch for 1.1909 to hold and wave (i) of [v] to continue lower.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable stopped just short of hitting the 1.3990 level at the 61.*% retracement level.
Todays decline is impulsive looking to begin with at least.
so I am looking at the idea that wave ‘2’ is now complete at 1.3984.
And wave [i] of ‘3’ should head lower in five waves and break the wave [b] low at 1.3719 again.

Monday;
Watch for wave (i) and (ii) of [i] form a lower high below the wave ‘2’ high.
A break of 1.3719 will signal wave [i] of ‘3’ is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is really starting to peak my interest here.
I have not changed the wave count yet,
but let me play out the alternate scenario here.

The price has fallen in three waves again into todays lows.
This has formed another higher low above 109.06.
So this action can be read as wave [i] and [ii] of ‘3’ to the upside.
And if this is the case,
then we are about to rally powerfully into a third of a third wave.

If the price breaks above 110.59 again this will favor the alternate count.

Monday;
as for the main count.
Wave (ii) may be forming a running flat correction here,
a decline back below 109.06 again will signal wave (iii) of [iii] down is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

This weeks consolidation has moved away from a triangle wave ‘iv’.
And after todays trade we have a long drawn out sideways move within a channel to contend with.
This is still likely a fourth wave correction.
Maybe wave ‘iii’ can be positioned at yesterdays top instead of Mondays top.
This would give a more straight forward decline for wave ‘iv’.
And wave ‘v’ will still be expected next week.

I went over the cluster of Fib targets in the weekend video.
The first comes in at 35560 and then 35650.
So we have a clear area to look for wave (c) to complete above.
and those targets will complete three degrees of patterns at least,
and open up the window again for a reversal to begin off that top.

Monday;
Lets see if wave ‘v’ of (c) can reach the lower target next week.
I am hopeful the set of targets will result in an impulsive move lower to begin off that high.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The short term pattern in gold just got even stranger as if that were even possible!
I am not absolutely convinced with the pattern I am showing this evening for wave [iv],
And I will acknowledge that the alternate count is still a real possibility here.
But,
The action over the last few weeks does fit the spirit of a triangle,
even though the straight triangle wave [iv] got invalidated this week.

Tonight I am presenting another possibility for a triangle in wave [iv].
Wave (b) of [iv] can be viewed as a triangle into this Wednesdays lows.
that gives us three waves up in wave [iv],
And with the sharp decline off the high this evening it does signal that wave (c) of [iv] is topped out now.

Monday;
Watch for wave (i) of [v] to fall again and break below the shoulder of support created by that triangle at 1789.
A lower high in wave (ii) next week will signal wave [v] is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I am showing a fleshed out version of wave ‘5’ blue this evening.
There is enough waves in place now to call wave (iii) of [v] of ‘5’ now complete.
That leaves us two more waves in the pattern to complete wave ‘5’.
The target remains at 76.44.

Monday;
Watch for wave (iv) to hold above 72.12 at the wave (i) high.
The price should then rally in wave (v) of [v] for the rest of the week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

If we take todays low as wave ‘b’ of ‘v’.
That give us a running flat correction for wave ‘b’ now in place.
And wave ‘c’ left to finish the pattern at the target area of 4472 next week.

On the 4hr chart I have shown the alternate count for wave (v) blue.
This involves a simple five wave impulsive pattern labelled in pink.
It does require a very unorthodox wave ‘ii’ pink,
but the pattern fits nonetheless.

even this pattern suggests we are done now and the next major move will be down.

Monday;
watch for wave ‘v’ of (v) to close out early next week and then I will be watching for that impulsive decline to begin.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays decline has not developed impulsively yet so I am allowing for a small new high in wave ‘c’ of (ii) to complete on Monday,
before the price will return lower again into wave (iii).
If the price continues lower on Monday and breaks 24.48 again,
that will signal wave (iii) has begun.

Monday;
Watch for wave ‘c’ of (ii) to complete and wave (iii) down to begin by midweek next week.

Thanks to you all for your patience this week.
I am asking for the same next week also as my family head off on another few nights break
to wind up the summer before the kids go back to school again.
So I bid you all adieu and fair sailing for the next few days.
I will talk to you all again next Thursday evening.
God’s Blessings on you,
enda.