Good evening folks and GOD Bless you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Despite another slight new high this afternoon,
eurusd topped at a lower high as per a second wave retracement in wave ‘ii’.
and now this evening we have a sharp move lower off that high to begin wave ‘iii’ down.

The bearish wave count is holding in the short term
and I still expect wave ‘iii’ of (c) to head lower for the rest of the week and break initial support at 1.1752.

Tomorrow;
Watch for wave ‘iii’ to be confirmed with a break of 1.1809,
we should see a follow through in wave ‘iii’ below support.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave (a) is heading higher in a corrective pattern as expected.
the pattern is no less complicated after todays action though!

I am expecting wave (a) to push up towards the 1.30 handle in three waves.

It is possible that wave ‘b’ is a triangle,
and wave ‘c’ will head higher from here into the area of the previous fourth wave high.

Tomorrow;
Watch for wave (a) to trace out a clear three wave pattern higher before falling into wave (b) again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays action adds weight to the bearish count change from yesterday.
The price spiked lower this morning in a possible wave ‘iii’ of (iii) scenario.
I would like to see this wave break the 105.10 level before completing.
And then a slight correction in wave ‘iv’ maybe by the end of tomorrow evening.

Tomorrow;
watch for further declines to complete wave ‘iii’ of (iii) below 105.10.
The larger wave (iii) will likely fall into the lower support at 104.19.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

There was some pretty interesting action today that hints at the possibility that we have a bearing impulse wave already complete off the high.

Wave (c) hit the initial target at 28200 at the wave (a) high,
and then dropped with a small spike lower this evening.

If this decline continues over the next few days and breaks the 27450 level,
that will favor the idea that wave [iii] is underway.

in the short term,
if the price creates a lower high below 28200 again,
that will also hint wave [ii] is done.

Tomorrow;
We are getting very close to a waterfall moment into wave [iii] if this count is correct.

Watch for the high at wave [ii] to hold and wave (i) of [iii] to push into the 27450 lows again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The price pushed out above the previous high at at 1965 today but the triangle scenario is still in play.
Wave (e) of [b] did trace out a larger three wave move,
but the new high did not last.

The price fell sharply off todays high at 1971.70 this afternoon,
its early days now,
but there is a good chance that this move will begin a larger decline into wave [c] over the coming week.

Tomorrow;
Wave [c] down will be confirmed with a break of 1905.
but a move below 1935 again will be the first sign that wave (i) of [c] is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has hit the minimum target of 38.65 at the wave (a) high today.
The action in wave (b) is a little messy,
so I think the triangle idea that I have shown tonight works better.

Wave (c) has moved higher off that wave (b) low.
But wave (c) has not traced out a five wave pattern yet.
Once wave (c) is complete,
we will have a bearish impulse wave in place off the high and the scene will be set for an acceleration lower into wave [iii].

Tomorrow;
watch for wave (c) to complete five waves up towards the 39.25 level at the 38.2% retracement.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Close but no cigar for the S&P today!

The price rallied towards the wave ‘a’ high but never broke above that level to complete wave ‘c’.
The price rejected that wave ‘a’ high today and spiked lower instead.

So,
either wave ‘c’ will complete tomorrow with a break of 3425 again,
hit the upper trend channel line and then fall into wave (iii).

Or,
Wave (ii) completed as a running flat correction at todays high,
and wave (iii) will continue lower tomorrow to break the wave (i) low over the coming days.

Tomorrow;
The early action will clear up this confusion.
A rally to a new high will signal wave ‘c’ of (ii) is completing as suggested.
While a further decline will signal wave (iii) is already underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Like gold, silver made a very slight new high as part of a larger wave ‘2’ scenario.
The price has fallen off the high again this evening to begin wave ‘3’ down.
And we should see further declines for the rest of the week as wave ‘3’ takes hold.

Tomorrow;
Watch for wave [i] of ‘3’ to push down towards the wave ‘1’ low at 25.83.
A break of that level will signal wave ‘3’ is underway.