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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A five wave pattern has now developed in wave ‘a’ of ‘iv’.
This action suggests wave ‘iv’ will be a 5,3,5,internal pattern.
Wave ‘b’ will trace out three waves up to a lower high early next week.
And then wave ‘c’ of ‘iv’ will fall again in five waves to complete three waves down late next week.

Tomorrow;
Wave ‘a’ of ‘iv’ has completed and now it is time for wave ‘b’ to turn higher in three waves.
Watch for wave ‘a’ to bottom tomorrow and then correct higher.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is lower again off the highs at wave (c) of [b].
The decline has not one far enough to confirm this patter yet,
but as long as the price continues lower tomorrow,
then I will stick with this idea for wave ‘i’ down.

Tomorrow;
WAtch for wave ‘i’ of (i) to fall into support at the wave ‘b’ top at 1.3044.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The lack of action this week in USDJPY is a little concerning to be honest.
but the pattern has still formed a higher low above wave [b] green.
And as long as the upside continues in general,
then I can’t rule out this pattern for wave [c].

Tomorrow;
Watch for wave ‘ii’ to create a running flat within the rising channel as shown.
Wave ‘iii’ of (i) must continue higher to hit the wave [a] highs near 147.90.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A bit of a choppy day today with a brief high that has now been rejected.
It is very easy to see how the momentum has declined since the center of wave ‘iii’ of (iii) of [v].
WAve ‘iii’ was a classic acceleration higher.
And now the market is struggling to achieve very much at all.
So the action fits the wave progression at this late stage.

Tomorrow;
There is room within the trend channel to close out wave (v) near the upper line.
a rally into that line will finish off the pattern nicely in wave [v] green.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am waiting for this wave ‘c’ rally to close out all week and so far we have achieved very little,
except a frustrating lower high and a failed fifth wave??

The market has not made a decision to turn into wave (c) yet,
but this rally phase seems dead at the moment,
so I suspect it is just a matter of time until we see a reversal into wave ‘i’ of (c).

Tomorrow;
Watch for wave ‘i’ to drop back into the 2450 area to signal wave (c) has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The price has turned higher today and this action does fit the idea of a rally in wave [iii] now.
But,
the internal pattern of todays rally has not traced out five waves up,
so I cant confirm wave [iii] yet.
If the price continues higher tomorrow,
that should lead to a break above the wave [i] high to confirm the overall pattern.

Tomorrow;
Watch for wave [ii] to hold at 73.56.
Wave [iii] up should continue higher in five waves to confirm this pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The action coming into the close this evening gives us another ‘maybe’ to play with!
A rally into the session highs created a double top with the wave ‘iii’ high.
And again we have a possible three wave rally complete in wave [ii] green.

The market is closing lower this evening with a spike off that session high.
I have said it over and over this week,
it is a very simple task to create a new all time high given that we are so close here,
but the market has failed.
Lets see if there is a follow through tomorrow.

Tomorrow;
Watch for wave ‘i’ of (i) to drop back below 5500 in a five wave pattern.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at three waves down in wave ‘a’ of (ii) now after todays action.
The price has formed a lower high so far,
and that takes the wave ‘b’ label.
I want wave ‘c’ to fall back below 28.77 at the previous wave ‘iv’ low.
And from there we should see a drop to about 27.87 at the 62% retracement level to complete wave (ii).

Tomorrow;
Watch for wave ‘b’ to hold that lower high and then wave ‘c’ of (ii) to drop again for the next few days.