Good evening to you folks,

God’s blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I think we can now mark 0.9944 as a critical low for EURUSD.
The price is holding above this level so far today,
it is a close call though as we could slice down through that level very easily.

I have to admit that the decline in wave ‘ii’ into that low is not convincing as a corrective decline.
So if see another break of that low again,
then I will have to change my outlook here.

Tomorrow;
Watch for the low at 0.9944 to hold.
A break of that level will change the picture here into a more bearish outlook I’m afraid.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at todays sideways range as a correction in wave ‘iv’ of (iii).
This count suggests wave [v] green has more to travel before it completes.
A the moment I am looking at a low for wave (v) of [v] near 1.1100 again.
this weeks trade may be enough to complete that pattern,
we will see I suppose.

A break above the wave (ii) high at 1.1590 will signal a possible ow is in for wave [v].

Tomorrow;
watch for wave ‘iv’ to fill that small channel and then turn lower again into wave ‘v’ of (iii).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

We have a possible top for wave ‘ii’ now in place at the todays top.
In this case wave ‘ii’ is a running flat correction,
and wave ‘iii’ down should begin with a decline below 141.50 again.

Obviously this pattern is hanging on the same caveat that both EURUSD and GBPUSD are,
a quick shift back to USD strength will rule out this bearish pattern.
So I am watching closely this week to see if this pattern holds.

Tomorrow;
Watch for the wave ‘ii’ high to complete near 143.84.
The channel should hold this correction and then a decline back below 141.50 will confirm wave (iii) is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am open to a couple of counts for the hourly charts tonight.
This indecision involves wave ‘ii’ and its possibilities.

The mina count showing wave ‘iii’ already underway is still in play here.
This count may well have completed wave ‘2’ of ‘iii’ at todays highs.
If this count is correct,
then we should expect a major drop to begin tomorrow into wave ‘3’ of ‘iii’ of (iii) of [iii].
I went over the possibilities of that decline last week,
suffice to say that this next leg down should slice down through 30,000 and leave it behind forever!

As for the alternate short term count.
The lows on Friday can also be viewed as the wave ‘i’ low,
and wave ‘ii’ is underway off that low.
in this case we could see a rise into 31300 again before turning lower to begin wave ‘iii’.

Tomorrow;
Watch for wave ‘iii’ down to take over again.
A break below 30.490 again should begin wave ‘3’ of ‘iii’.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The pattern in gold is also undecided tonight.
The initial move off that 1654 low last week was a good start to wave ‘i’.
but there has been no follow through yet to build that impulsive pattern in wave ‘i’ that I want to see.

It looks like I will have to wait a few more days for a possible wave ‘i’ rally to break above resistance at 1735 and turn the tide on the recent declines.
If this rally does not materialize,
then it is back to the drawing board for wave [v] green I’m afraid.

Tomorrow;
Lets see if that low at 1654 can hold first.
The price should push higher tomorrow if I am right on this short term pattern.
A break of 1700 again will be a vote in favor of the bullish outlook.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Another too close for comfort day for this short term pattern.

The price came very close to breaking to a new low this morning,
and if the low at 81.00 does break again that will force me to reconsider this wave count for wave [c] of ‘2’.

The main count is safe for the moment as the price did bounce off the session lows and we are holding close to 85.00 this evening.
I have labelled this bounce as wave ‘i’ of (iii).
And the price must rally over the coming few sessions in wave (iii) of [c] if this count is correct.

Tomorrow;
Watch for wave (iii) to continue higher in a five wave pattern.
Wave ‘ii’ of (iii) must hold above 81.05 at the very low end.
Wave ‘iii’ of (iii) should break 92.00 with ease.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The action today is still quite corrective looking to the upside,
so I can stick with the idea that wave ‘3’ of ‘iii’ is now underway.

This count will require another sharp drop to begin tomorrow and continue for the next few days
if the wave ‘3’ of ‘iii’ of (iii) idea is correct.

The same second wave alternate idea is valid here for wave ‘2’ also.
If the price breaks above 3959 again in three waves,
that will signal wave ‘2’ has created a larger pattern.

Tomorrow;
The main count has danger dead ahead into wave ‘3’ of ‘iii’.
If the price turns lower again and breaks 3830 again,
that should be enough to begin a real acceleration phase into that larger wave (iii) blue.

Tomorrow;
Watch for wave ‘2’ to hold at 3959.
Wave ‘3’ down will be confirmed with a break of 3830 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking for a five wave rally into wave (v) of [c] this week.
The correction in wave (iv) went on for too long last week,
and the decline almost broke the wave (i) high and ruled out this wave count completely.
For now we have a nice bounce in place off the wave (iv) lows at 18.77.
I am tracking a five wave pattern now in wave (v) as shown.
And todays higher lows are viewed as wave ‘ii’ in progress.
There may be another test of the 19.00 level to complete wave ‘ii’,
but we should see a rally into wave ‘iii’ of (v) by midweek at the latest.

Tomorrow;
Watch for wave (v) to continue higher in five waves this week as shown.
The initial target for wave [c] of ‘4’ lies at the wave [a] high at 20.86 again.