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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

WAve ‘1’ and ‘2’ have traced out larger patterns today and this action suggests wave ‘v’ will be a bit larger than previously expected.
The price rallied nicely off the session lows today.
and now I am suggesting that wave ‘3’ of ‘v’ is underway.
Wave ‘3’ can reach as high as 1.1250 now if we take the size of wave ‘1’ as a guide.
And at that level we can look for a correction in wave ‘4’.

Tomorrow;
Watch for wave ‘3’ of ‘v’ to hit the 1.1250 area.
I will have to wait until next week for wave ‘v’ pink to complete.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The action in cable is very strange to be honest.
there is no discernable pattern in the action today.
the price has overlapped three times as wave ‘3’ got underway today.
That is not ideal at all for a third wave.
and I am now beginning to think that there is something completely different going on here.

Tomorrow;
I will wait for another days action to see if this clears up a little before jumping to conclusions.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has traced out three waves up off the wave [b] low so far.
and the action today is consolidating and holding so far.
I would prefer to see a bit more upside in this pattern to confirm that this is indeed wave ‘iii’ of (i).
and even then I want to see further gains in wave ‘v’ of (i) next week.
So,
after some positive action this week,
this pattern is still undecided for wave (i) up.

Tomorrow;
Watch for wave ‘iii’ to continue higher to break above 144.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is very close to closing the trend channel for wave [v] green today after a rally to regain the all time highs.
The test for wave (v) of [v] now comes as we hit this area,
a failure at this level will suggest wave (v) of [v] is now done,
and we can begin to look for a reversal pattern again in wave (i) down.

Tomorrow;
Lets see how the price reacts to that upper channel line in wave ‘v’ of (v) of [v].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is back to the highs of the week again tonight with a retracement of last nights drop.
The rally today looks like an impulsive five wave move,
and that is labelled as wave ‘5’ of ‘c’ again.
All in all,
this weeks action has been pretty sideways and there is little to show for it in the pattern.
So,
I will wait for wave ‘c’ to top out and then turn lower again next week to begin the next leg of the larger pattern.

Tomorrow;
watch for wave ‘5’ of ‘c’ to top out and then fall back quickly to begin wave [a] of ‘4’ next week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I am still looking for a top in wave [a] of ‘4’ today even though we have a slight break of the wave ‘1’ lows.
I discussed this earlier in the week,
in the case of a triangle pattern in wave ‘4’,
a break above the wave ‘1’ low will not invalidate the overall pattern.
Wave ‘4’ blue will actually complete below that wave ‘1’ low if the triangle pattern is correct.
So we will see how it progresses over the coming week.

Tomorrow;
wave [a] should be close to done here as the retracement has come far enough off that wave ‘3’ low.
Watch for wave [b] to turn lower before the end of tomorrows session.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P turned higher into wave ‘v’ of (v) today and now the market is closing in on that upper trend line again.
Five waves up is all but complete in wave (v) blue now.
And the same goes for wave [v] green also.

Tomorrow;
Watch for wave (v) blue to top out near that upper channel line to compelte the larger pattern at five degrees of trend.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am switching up the count tonight to shown only two possibilities.
There is clearly three waves up completing now off that wave [ii] low.

The main count suggests this action is a series of impulse patterns higher to begin the larger wave [iii] green.
Waves (i) and (ii),
followed by wave ‘i’ and soon wave ‘ii’ pink.
This pattern will allow for a correction in wave ‘ii’ next week.
And then a large rally in wave ‘iii’ of (iii) over the following weeks.

The alternate is a simple three wave rally in wave (b) of [ii].
With wave (c) left to come next week.

Tomorrow;
Watch for wave ‘i’ of (iii) to complete and then a correction into wave ‘ii’ should begin.