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

See a pattern??

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The price has spiked higher this evening after the rate cut by the FED in the U.S.
I have labelled this rally as the start of wave ‘3’ of ‘v’.
And even now the price is close to hitting the minimum target for wave ‘v’ pink at 1.1202.
That should be easy to achieve tomorrow,
and the larger wave ‘v’ may even top out by the end of this week.

Tomorrow;
Watch for wave ‘3’ of ‘v’ to break 1.1202.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable ran higher this evening also in line with the wave count.
Wave ‘3’ of ‘v’ has broken the initial target for wave ‘v’ at 1.3266 this evening.
That brings us one step closer to completing wave ‘v’,
with one more step higher left in waves ‘4’ and ‘5’ as shown.

Tomorrow;
the wave ‘1’ high should hold as wave ‘3’ and ‘4’ complete over the coming days.
Lets see if this final wave ‘v’ rally can complete this week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have been looking for a turn higher into wave (i) this week,
and there is a chance that we now have the first higher low in place to begin that rally.
I am showing waves ‘i’ and ‘ii’ complete at the current lows this evening.
the price fell in three waves off last nights highs,
and that pattern is consistent with a correction in wave ‘ii’.
I will have to wait and see if the wave ‘iii’ of (i) can turn higher tomorrow,
if so,
then wave (i) will be confirmed.

Tomorrow;
Watch for wave ‘iii’ of (i) to continue higher as shown.
Wave [b] must hold at 139.58.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The sideways trade over the last couple of days ended this evening with a spike higher after the Fed decision.
That rally reached a new high,
and that has the potential to complete five waves up here.

I have labelled the sideways trade as a triangle in wave ‘4’,
and the rally out of that pattern as wave ‘5’ of ‘v’.
That gives us five waves up at this top,
but it remains to be see if that is enough to close out wave (v) blue.

tomorrow;
Watch for wave ‘v’ pink to close out and complete the larger wave (v) blue.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Its been a long month in the gold market with the price moving higher by millimeters,
and then dropping back the very next day.
The market made a new high today in wave ‘5’ of ‘c’.
todays top has the potential to finish a five wave pattern in wave ‘c’.
And if that is true,
then the wedge pattern in wave [v] green is complete also.

Tomorrow;
I am waiting for a drop back below the rising wedge to signal that the pattern has topped.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is back below 70.00 again this evening after a choppy session all day.
the high labelled wave [a] is holding so far,
and now it is time for wave [b] to prove itself with a drop back in three waves as shown in three waves.
I am suggesting a low for wave [b] near 66.00 again.
but it is too early to be confident on that target.

Tomorrow;
the low of wave ‘1’ blue must hold at 71.40.
Watch for wave [b] to turn lower again and trace out three waves down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P ends up flat on the day after the biggest expectation for a rate cut since I don’t know when!
If a 0.25% cut was bullish,
surely a 0.5% cut was mega bullish??
No?

Anyway the question remains,
why cut rates if the economy is so damn great,
and the market is sitting peacefully at an all time high again??

Probably because the economy is crumbling,
the U.S govt is paying too much interest,
and you cant ramp spending if rates are this high.
Plus, the election!

Anyway,
A five wave pattern is complete in wave (v) at the session high.
it remains to be seen if that pattern for wave (v) blue is correct,
The elliott channel for wave [v] green will allow for a run higher.
but a sharp reversal next week will in the coming days will favor a top.

Tomorrow;
Watch for wave (v) blue to top out over the coming days.
I will look lower again off the top beginning next week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver jumped this evening then dived off the highs again to suggests wave ‘b’ is finally complete here.
If this reversal is wave ‘1’ of ‘c’,
then we will see a five wave pattern lower over the coming days as shown.
The target for wave ‘c’ of (ii) lies at 27.67 and we should reach that level by the end of next week if all goes well.

Tomorrow;
Watch for wave ‘1’ and ‘2’ to form a lower high before accelerating lower again in wave ‘3’ of ‘c’.