Good evening folks and the Lord’s blessings to you.

A prophesy written by Ezekiel about 2500 years ago is about to be fulfilled in my estimation.

Read about the fate of a character called Gog,
an enemy from the north who attacks Israel,
and who will be killed on the mountains of northern Israel by an action of God Himself.
Its a thrilling read and worth 10 mins of your time
while watching the news play out over the weekend!
Ezekiel chapter 38-39.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is still not complying with the standard five wave pattern today!
The price has again stepped higher to form another higher low this evening,
This action keeps the general upward move in tact,
but we fail to see an acceleration into wave ‘3’ of ‘v’ as I have been suggesting.
I a wary now for sure,
but I will stick with the main count until this is invalidated.

Monday;
Watch for wave ‘3’ of ‘v’ to continue higher in a clear five wave pattern.
A break above 1.1214 again will favor this count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We have been fumbling along sideways for most of this week as wave (c) continues to top out the larger pattern.
The price failed to hit a new high in wave ‘v’ of (c) today,
and wee are closing tonight at 1.3383.

I have suggested a possible head and shoulders top on the short term chart here.
That requires wave ‘i’ of (i) of [c] to turn lower on Monday and break down out of the rising channel.
If that happens early Monday,
then we can be a little more adventurous in plotting the way lower again.

Monday;
Watch for wave ‘v’ of (c) to hold at the recent high,
I have marked the wave ‘iii’ high at 1.3266 as the signal level to suggest wave (i) of [c] is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Well that overnight crack in USDJPY has damaged the main wave count today,
I can’t deny that.
But,
the fact that the decline hit the 62% retracement level at the lows tonight and seems to have stopped is interesting.
This could easily be a second wave retracement in wave (ii).
the price is holding at a standard second wave Fib retracement level,
and I am going to give the market a chance next week to see if we can retrace higher to begin wave (iii) up.

Monday;
Watch for wave ‘i’ and ‘ii’ to create a higher low as shown early next week.
the alternate count on the 4hr chart is showing wave ‘B’ complete at this weeks high,
but I am not ready to jump to that count just yet.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I think we are about to witness a head and shoulders pattern in the DOW over the next week.
The market bounced to a new high today and then rejected that high again.
I have filled out the wave count for wave (v) blue this evening also,
showing the extension in wave ‘iii’,
an expanded flat wave ‘iv’,
and now a new high in wave ‘v’.
The price reached up towards the upper trend channel line at the highs within closing the channel fully,
but,
it is close enough to tick that box in my book!

Monday;
A five wave pattern is complete in wave (v) blue now,
If that is complete,
next week should bring the expected turn into wave (i) finally.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Finally a small drop off the highs to finish the week.

Gold is moving back into both trend channels again with more expected next week if this count holds up.
Wave ‘a’ of (iv) should fall back to the area of support at the wave ‘iii’ highs.
That gives us a possible target at 2530 for wave ‘a’,
and from there we can look for a bounce into wave ‘b’ as shown.

Monday;
Watch for wave ‘a’ of (iv) to fall with some intent next week.
Wave ‘a’ should reach support at about 2530.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The action off the lows in crude is a little choppy at the moment but I do think that wave [b] of ‘4’ is now complete.
I am looking for a three wave rally in wave [c] to turn higher from here,
and that should bring the price back to the 70.00 handle again.
In an ideal world,
Wave [c] should hold below the wave ‘1’ low at 71.40.

If that happens,
then we will be well on the way to closing out a triangle in wave ‘4’.

Monday;
Watch for wave [c] of ‘4’ to turn higher in three waves and complete below 71.40.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

It’s been a dead week in the S&P with very little to reveal the true nature of the pattern here.
The market has been sleep-walking to a new high in wave ‘v’ of (v).
with a possible top in place for that rally now.
there is no confirmation of that yet.
We have a small lower high as we hit the close this evening.
A follow through to the downside will add some weight to the idea of a top next week.

Monday;
Watch for more signs that wave wave ‘v’ of (v) of [v] has come to a close.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Three waves down in wave ‘a’ of ‘ii’ so far today.
The price has dropped off the high back into the trend channel this evening.
I am looking for wave ‘a’ of ‘ii’ to retrace all of the wave ‘5’ rally from earlier this week.
That suggests a target at 30.66.
and that should be hit by Monday evening if all goes well.
From there I will look for a sideways move in wave ‘b’ as shown.

Monday;
watch for wave ‘a’ of ‘ii’ to drop into the support at 30.66.