Good evening to one and all, the Lord’s Blessings to you tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I don’t think I can call todays action the beginning of wave ‘3’ of ‘iii’ to be honest.
The price has traced out a pretty clear three waves down into todays lows.
My best estimate now is that we are still moving in wave ‘2’ of ‘iii’.
And there is another spike higher left to complete a larger flat correction in wave ‘2’.
And wave ‘3’ of ‘iii’ is yet to come.

Tomorrow;
Watch for wave ‘2’ to complete with a rally back into 1.0950.
I will then look lower again into wave ‘3’ of ‘iii’.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The price did break last nights triangle pattern with that new high created today.
I am going to stick with the triangle interpretation for wave (iv) in general though.
wave ‘c’ of (iv) is now set at todays high at 1.2765.
And if this level breaks I will be forced to rethink the overall pattern again.

Tomorrow;
Watch for wave ‘c’ to hold at todays high.
A drop back into 1.2670 again will satisfy wave ‘d’.
and we may even see a completed wave ‘e’ of (iv) tomorrow also if the action sticks to the pattern.
Wave (v) will have to wait until at least Friday now.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I thought the USD was dead?
That’s what I heard a few months ago at least!

USDJPY continued higher today and the main wave count is holding its pattern so far.
The price has not accelerated higher into that wave ‘iii’ yet,
but as long as the rally continues,
then I can stick with this interpretation.

Tomorrow;
As long as the price holds above 145.00 then this wave count will remain valid.
Watch for wave ‘3’ of ‘iii’ to continue along its path as suggested.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

More weakness today in the Dow and the price is closing near the lows of the session tonight.
I am going to stay with the main wave count for wave ‘iii’.
But I will admit that this pattern has not proved itself yet.

The decline into wave ‘3’ of ‘iii’ has not extended far enough below the wave ‘1’ low at 35044 yet.
This means we can very easily get an overlap between wave ‘1’ and wave ‘4’ at the moment,
and that will invalidate the overall pattern for wave ‘iii’.

At this point I am cautiously optimistic of the main wave count.
But I will need to see further downside,
and an extension within the wave ‘iii’ pattern to be more confident.

Tomorrow;
Watch for wave ‘iii’ to make further progress to the downside.
The sooner the price falls into support at 34500 again the better.
The wave ‘1’ low at 35044 should continue to hold.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

ITs been another strange day in the gold market with a a little more downside but very weak momentum at this point.
I am expecting a reaction higher soon into wave (ii) given the very weak action this week.
I know this has not happened yet,
but the action suggests that there will be a reversal soon.

The price broke below the 1900 level again today and now there is a chance that the lower support at wave [a] will break also.
All this favors the main wave count in general.
So I will stick with it for now.

Tomorrow;
Watch for wave (i) to complete and wave ‘a’ of (ii) to swing higher before the end of the session.
I am suggesting a high for wave ‘a’ near 1920.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is close to hitting the initial target for wave ‘c’ at 78.51 this evening.
Wave ‘c’ is close to completing five waves down now.
And that means the overall pattern in wave (iv) should close out soon enough.
We should see a completed pattern in wave (iv) by tomorrow evening.
And If the price bounces above 80.00 again,
that will suggest wave (v) is underway.

Tomorrow;
Watch for wave ‘c’ of (iv) to complete with a break of the wave ‘a’ low at 78.50.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The price action in the S&P is a little cleaner than the Dow,
with less overlapping between highs and lows.
That gives us a clearer wave count for sure,
but even despite that action, the bearish pattern has not been confirmed here either.

The market is closing tonight with a some reasonable selling pressure,
If this decline is happening in wave ‘3’ of ‘iii’ as I am suggesting,
then we should see a break of initial support at 4377 tomorrow as wave ‘iii’ really takes hold of the action.

Tomorrow;
Watch for wave ‘3’ of ‘iii’ to continue to the downside and compete a five wave pattern with a break of support at 4377.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is holding a higher low above 22.21 tonight and that still favors the idea that wave ‘c’ is underway here.
I am looking for wave ‘c’ to trace out five waves up and complete above 22.99 at a minimum.
If the price turns lower and breaks 22.21 again I will be forced to rethink this pattern again.
So lets see if wave ‘c’ of ‘iv’ can turn higher and complete by tomorrow evening.

Tomorrow;
Wave ‘c’ must rally back above 22.99 to close out wave ‘iv’ correctly.
Once that happens,
I will look lower again into wave ‘v’ of (i) again.