Good evening to one and all.

The Lords Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Another drop into that band of support today and the pattern is beginning to look ominous for EURUSD.

If the short term count is correct, then wave ‘iii’ of (c) is now underway.
But we must see a further drop into the lower channel line
and possibly a break of the lower line to confirm that count.

Tomorrow;
Wave (c) will reach equality with wave (a) at 1.1616,
so that is now the minimum target for wave (c).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The action today has all but ruled out the idea of a larger wave [b].
But it has opened up another possibility for wave (i) of [c].

The price created a five wave decline into the overnight lows.
Then an early high in wave (ii) today,
and now we should see a sustained decline in wave (iii) down over the coming few sessions to

Tomorrow;
watch for wave (ii) to hold at 1.2865.
Wave (iii) down should trace out five waves lower into the 1.2400 handle over the coming days.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

So far we have a three wave pattern higher in place off the wave (E) lows.
This action has not confirmed the bullish wave count yet,
but I am allowing for that possibility over the coming days.

I have shown a possible series of impulsive waves higher on the short term count.
The price spiked higher again today in wave ‘i’ pink,
and now wave ‘ii’ should create another higher low above 104.40 at wave (ii).
Wave ‘iii’ up will then rally up towards 106.00 by the end of the week.

Tomorrow;
Watch for wave ‘ii’ to complete above 104.40 overnight.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The dow is still moving within wave ‘iv’ pink today and tracing out a larger three weave pattern than expected.
I would like to see this three wave correction complete below 27450 tomorrow.
This is the level of the previous wave (b).

Wave ‘v’ should then fall into a new low to complete wave (iii)
with a break of 26700 at a minimum.
Wave (c) could reach down into the lower trend channel line at 26150 at a stretch.

Tomorrow;
Watch for wave ‘iv’ of (iii) to complete in three waves at or below 27450.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Todays trade in gold is mainly sideways with a contracting range.
At the moment this really points to a contracting triangle in wave ‘iv’ pink.
This should be followed by a further drop into wave ‘v’ to complete wave (iii) as shown.
And wave (iii) is expected to hit the wave [a] lows at 1861 to complete.

Tomorrow;
Watch for wave ‘iv’ to hold below 1932 at the very extreme upside.
But I suspect this triangle pattern will complete near 1915 and then turn lower again.
Wave ‘v’ of (iii) should drop again by tomorrow evening.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The action today in crude is a little bit muddled to say the least!

It is very possible that wave ‘iv’ of (i) is complete at the highs,
but we will need to see another sharp move lower below 39.00 again to complete a clear five waves down off the high at wave [ii].

The main alternate count for wave ‘iv’,
is a possible triangle that is still developing.
So if we see continued sideways action around the 39.60 level early tomorrow,
that will point to another drop in wave ‘v’ before the days is out.

Tomorrow;
Watch for wave ‘iv’ to complete and then a further decline in wave ‘v’.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has made it back up into that initial band of resistance this evening.
And so for the pattern can be viewed as a three wave correction higher in wave ‘iv’.
If the price breaks above 3320 at the wave (i) low,
that will create some doubt in my mind about the short term interpretation.

The minimum target for wave (iii) to complete lies at 3229 at the wave ‘iii’ low.
But I will need to see a reversal pretty soon in order for this count to remain valid.

Tomorrow;
Watch for wave (iii) to reverse lower again tomorrow and complete five waves down into the 3200 level.

The short term alternate count is even more bearish
and it calls for a three wave correction to end in wave ‘ii’ of (iii).
With a further decline in wave ‘iii’ of (iii) to come.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at the possibility of a triangle in wave [iv] developing now.
The action today is a series of three wave patterns overlapping each other.
so this fits a triangle scenario.

If this is correct,
then wave [iv] should complete at or near 24.50.
And then the price should fall into wave [v] of ‘3’ tomorrow.

Tomorrow;
Watch for wave [iv] to complete relatively early in the session.

If the triangle is not correct,
then wave [iv] should complete at about 25.22 in a flat pattern and then wave [v] will come in.