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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well EURUSD is pushing to the invalidation line tonight after moving higher in line with the wave count!
WAve ‘b’ of (d) is still a possibility here,
but it will not take much to break 1.108 tomorrow to rule out this short term count again.
And if that happens I will have to go back to the drawing board for wave [b] again.

Tomorrow;
Watch for wave ‘b’ of (d) to hold below 1.1008.
Wave ‘c’ must turn lower quickly tomorrow morning and then fall back towards 1.0850 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at a slightly different count for cable tonight after the price pushed back above 1.2800 again.
There is a possible three wave rally off the lows at 1.2665 now,
and this is labelled wave (ii) of [i].
The highs this evening have just pipped above the 50% retracement level.
And wave (iii) down is now expected to begin from this area.

Tomorrow;
WAtch for wave (ii) of [i] to top out and then reverse.
A break below 1.2665 will signal wave (iii) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has spent another day just stuck in a range sideways and that action suggests something else is going on here.
I am changing the wave count up by one degree tonight.
and the sideways movement is now viewed as a triangle in wave [b] of ‘B’.
The price should turn higher again in wave [c] this week.
and the target level for wave [c] lies at 155.28.

Tomorrow;
watch for wave [b] to complete a triangle and then rally again into wave [c].
The price must hold above 145.44 for this triangle to hold.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Drastic times call for drastic measures!

Well that might be overplaying the action today a little,
but the market has moved enough to warrant a new take on the pattern.

I am looking at a series of impulse waves lower now as the high of the session today has just hit the previous wave (i) low.
It is a close one,
but the new count will allow for this overlap without any issue.
The market must turn lower again into wave (iii) as shown to validate this new count.

Tomorrow;
Watch for wave (ii) to hold within that trend channel.
We still have a three wave pattern higher in wave (ii),
and that must be followed by a turn lower into wave (iii) this week.

A break of 38400 will signal wave (iii) is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is holding at the highs this evening and this action can be viewed as a correction within wave ‘c’ of (b).
Wave ‘4’ of ‘c’ is underway now.
We should see a push higher in wave ‘5’ of ‘c’ to complete wave (b) tomorrow.
Wave [iv] will then be classified as an expanded flat correction.
And I will be looking for a decline to begin in wave (C) later this week as shown.

Tomorrow;
Watch for wave (b) to top out and then reverse into wave ‘i’ of (c).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

crude oil has hit the area of the previous fourth wave high today and immediately we see a turn lower off the highs.
That area also marks the 62% retracement level of wave (1).
So we are in a perfect area for a turn to happen.
If the decline continues tomorrow that will signal wave ‘1’ of (3) has begun.

Tomorrow;
Watch for that wave (2) high to hold at 78.93.
WAve ‘1’ down must trace out five waves lower as shown.
the target level for wave ‘1’ lies at 74.13.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I has switched to a similar count in the S&P tonight after the rally has extended higher today.
The pattern off the recent lows is still three waves up in a channel,
so I am sticking with the idea of a correction higher.
This rally is now labelled wave (ii) of [iii].
Wave (iii) of [iii] must turn lower again this week if we are to continue with the bearish short term outlook.

Tomorrow;
watch for wave ‘i’ of (iii) to turn lower again and I want to see a retracement of this wave ‘c’ rally.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver may have done enough to suggest that wave ‘i’ and ‘iii’ are complete here.
There is a small three wave correction off the wave ‘i’ high,
and this has formed a higher low so far.
wave ‘iii’ of (i) must turn higher from here to confirm this count.
But I can only call wave ‘iii’ underway when we get a break above 29.21 at the wave ‘iv’ high.

Tomorrow;
Watch for wave ‘ii’ to hold above 26.44.
Wave ‘iii’ must continue higher from here.