Good evening folks and blessings you tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The euro did push above the wave ‘a’ high today with quite an aggressive rally in wave ‘c’.
The high reached 1.1917 and then sold off sharply again.

This action does hint at a type of exhaustion in wave ‘c’ to complete a corrective pattern.
If that is correct,
then tonights declines will be the beginning of wave (c) down.

Tomorrow;
Wave (c) will be confirmed with a break of 1.1752.
Watch for wave (c) to create a bearish lower high by tomorrow evening.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Todays spike lower has revived the five wave decline pattern for wave [a] down.
I have switched to this pattern this evening.
The short rise in three waves overnight now forms wave (iv),
and wave (v) has possibly completed the larger wave [a] at the lower trend line this evening.

Five waves down in wave [a] suggests that the overall pattern in wave ‘D’ will be a zigzag 5,3,5 pattern.
So we should expect a three wave correction to begin next week in wave [b].

Tomorrow;
The trend channel off the high has been filled now.
So watch for wave [a] to find a final low and then reverse higher into wave [b] over the coming days.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Nothing much to report in USDJPY this evening.
The price continues to hold above the rising trend line off the low which is positive.
We do not have any action to suggest the bullish pattern is breaking down yet.
In fact if the overnight action continues up towards the 106.50 high at wave ‘i’,
then I would be more confident in the short term count.

Tomorrow;
Watch for wave ‘iii’ to push above 106.50 to confirm.
105.78 should hold.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We are inching towards a running flat pattern in wave [ii] this evening.
Complete with a possible truncated wave (c) as marked by the arrow at todays high.
If the declines we see this evening continue tomorrow,
then wave [ii] will be confirmed as a running flat and wave [iii] down will be underway.

At the moment I am allowing for wave (c) to put in one more rise above 28350 again to complete wave [ii] as an expanded flat.
In that case we will have to wait until next week to get into wave [iii] down.

Tomorrow;
watch for wave (c) of [ii] to complete with a final rally up to 28350.
If we see a reversal off that level,
that will be a strong hint that wave [iii] is getting started.

Wave [iii] down can only be confirmed with a break of 27180.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

This long and drawn out pattern in gold is now coming to an end.
And we will soon know if wave (4) is going to take over and draw the price down toward the 1750 target.
Or is that alternate count for the triangle is more likely.

The alternate count shown labelled this triangle as wave ‘4’ of (3),
with another run higher in wave ‘5’ left to come.
If we see a break of 1990 again that will favor this alternate count.

Tomorrow;
As for the main count.
The key to confirming a drop into wave [c] is a break of 1905 again.

Watch for wave (i) of [c] to begin.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has traced out three waves down off the high at wave (a).
It is possible that wave (b) is now complete,
but this evening has brought further declines so wave (b) is likely extending into a larger flat pattern.
I expect wave (b) will be complete by tomorrow evening and then wave (c) will again push up towards that 40.00 target.

Tomorrow;
Watch for wave (b) to complete above 36.40.
A break of that level will suggest that wave [iii] down is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

This pattern is not getting any easier!

The market is selling off again this evening as I write.
And it does draw attention to a possible beginning of wave (iii) now.

Todays high made a very slight new high above Wednesdays high.
This could be a completed three wave move higher into wave (ii) which is marked by the arrow.
But I will have to wait and see how tomorrows session goes.

If the price drops below 3296 again tomorrow that will signal wave (iii) is in force.
Wave ‘i’ and ‘ii’ will likely create another lower high before accelerating into wave ‘iii’ next week.

However I am still willing to allow for wave (ii) to create a larger pattern as shown.
A reversal higher tomorrow will signal wave ‘c’ of (ii) is underway.

Tomorrow;
3296 is the key level in the short term.
A break of that will signal wave (iii) has begun.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is moving lower off a possible high in wave ‘2’ made earlier today.
Wave ‘2’ has completed three waves up,
and this evenings declines should be the beginning of wave ‘3’ of (C) down.
Wave ‘3’ will be confirmed with a break of the wave ‘1’ low at 2579,
so we could see a possible acceleration into that low tomorrow in wave [i] of ‘3’.

Tomorrow;
Wave ‘3’ will trace out a five wave pattern,
watch for a lower high in wave [i] and [ii] to be completed over the next few sessions.