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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD continues the slow slide into wave ‘iv’ today,
and after the action,
I think I may be underestimating the size of wave ‘iv’ overall.

given that the price is drifting lower again today,
I am suggesting that wave ‘a’ of ‘iv’ is still underway here.
This action now suggests a larger three wave correction is in play here.

In this scenario,
wave ‘iv’ will take at least another week to complete.
And if I am correct,
wave ‘iv’ will get close to the invalidation line at the wave ‘i’ high at 1.0915.
A break of that level will force a rethink of the larger pattern.

Tuesday;
Watch for wave ‘a’ to complete and then wave ‘b’ should take the market back above 1.1100 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

So far cable has traced out a five wave pattern lower off that wave [b] high.
There is a chance that wave ‘i’ down has traced out a leading wedge off the high.
But I would prefer to see a clear break of 1.3040 again to complete wave ‘i’ of (i) of [c].

Tuesday;
Watch for the wave [b] high to hold at 1.3266.
Wave ‘i’ should break 1.3040 to complete.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am happy that the price is still making progress higher off that wave [b] low today.
But I am not entirely sure of the pattern that is underway here.
If this is a rally in wave ‘iii’ of (i) of [c],
then the price must continue higher on Monday and a better five wave internal pattern must develop.

Tuesday;
For the moment I will stick with this bullish pattern in wave [c].
But I want to see a stronger rally to finish wave (i) above 148.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action in wave [v] green is getting messy now.
We have a number of overlaps in the action over the last week as wave (v) has developed.
And that just complicates the pattern.
I have labelled a possible ending diagonal pattern for wave (v) blue this evening.
That does explain the overlaps lately.
This pattern also requires another rise next week to complete the five waves in wave (v) blue.

Tuesday;
Watch for wave (iv) to hold at 40840 and a five wave ending diagonal pattern to develop higher as shown.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold dipped below 2500 today briefly but the that decline is not enough to confirm wave ‘5’ of ‘c’ has topped yet.
The market has been range bound all week at the highs.
It is possible that wave ‘5’ completed in a failed fifth wave as shown.
and now we are beginning a turn into wave ‘i’ of (c).
But the price must accelerate lower to break 2470 at a minimum to confirm this idea.

Tuesday;
Watch for wave (b) to hold at the recent highs and wave (c) to begin a five wave decline next week.
The minimum target for wave (c) lies at 2350.
Wave ‘i’ will be confirmed with a break of 2470.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude turned lower today and that has ruled out last nights count for sure.
Wave [ii] is still in force here and the price is tracing out a larger three wave pattern to form a higher low.
Wave (c) of [ii] is now close to closing out a trend channel at the session lows this evening.
And now that wave [ii] has a clearer patter in place,
next week should bring a renewed rally into wave [iii] of ‘C’ as shown.

Tomorrow;
Watch for wave [ii] to hold a higher low above 71.27.
wave (i) of [iii] should turn higher again next week,
and a break of 76.00 again should confirm wave [iii].

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The turn lower into wave ‘i’ of (i) has refused to take hold today,
and with that I am looking at a possible alternate count for wave (v) blue.

I have shown a possible alternate end to the rally in wave (v) blue this evening.
The price is holding a higher low above the wave ‘iv’ lows now,
and this does open the possibility of a further five wave rally now beginning into wave ‘v’ of (v).

This alternate wave ‘v’ will bring the market to a new high on Tuesday.
and the pattern should close out by the end of next week.

Tuesday;
If the price rallies back above 5650 again that will trigger that alternate count.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

After another step lower today,
silver has now traced out five waves down into wave ‘a’ of (ii).
A correction higher into wave ‘b’ will take over early next week in this scenario.
And That should complete below 30.18.
Wave ‘c’ of (ii) is still expected to fall back into the 62% retracement level at 27.87 to complete.

Tomorrow;
Watch for wave ‘a’ to complete soon,
and wave ‘b’ must turn higher to form a lower high as shown.