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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am changing up the count a little tonight.
but first;
Take a look at the 4hr chart.

the sharp drop today is broken down to a new low for this pattern in wave (v) of [c] of ‘2’.
the action suggests we are witnessing a possible fifth wave extension to complete wave [c].
If that is true,
then we can easily break the 1.00 level again.
and if wave (v) fills the trend channel,
then we will see a low in wave (v) nearer to 0.99 again.

So,
after all this time the pattern comes to fruition for wave ‘2’.
the top of wave ‘1’ was registered 18 months ago,
and this is exactly where wave ‘2’ was pointing to even back then!

Tomorrow;
watch for wave ‘iii’ of (v) to complete a five wave pattern over the coming days,
with wave ‘3’ of ‘iii’ likely to break 1.0200 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at the exact same pattern in cable tonight.
the price fell today which ruled out last nights idea.
and now I am looking at a fifth wave extension in wave (v) of [c] also.

the target for wave [c] of ‘2’ lies at the 1.2000 area ideally,
if we hit that level,
then we will need a pretty long extension in wave (v) blue.

I have labelled todays declines as wave ‘iii’ of (v) of [c].
wave ‘iii’ is not yet complete a five wave internal pattern.
so there is work left to do here.

Tomorrow;
watch for wave ‘iii’ down to trace out five waves down as shown over the coming few sessions.
Wave ‘4’ may turn higher tomorrow,
but that should not break above the 1.2475 level again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has not reacted with the same impulsive acceleration as we see in the other two pairs.
The price is steadily moving higher overall,
but without a confirming price move in wave ‘i’ of (iii).

I want to see a rally back above 159.00 again to signal that the main count is in play here,
and if we see another higher low build in wave ‘ii’ as shown,
then next week may bring a larger rally into wave ‘iii’ of (iii).

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to firm a bullish higher low as shown in the next few sessions.
the low at wave (ii) must hold at 155.95.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A little different take on the pattern for the DOW tonight.
I am calling wave (i) and (ii) complete,
with a move lower into wave (iii) now underway.

The market has completed a lower high this week in waves ‘i’ and ‘ii’.
the market then dropped today to begin wave ‘iii’ of (iii).
this wave count is still speculative at the moment,
because we don’t have a sharp acceleration into wave ‘iii’ of (iii).
but the potential is there at least.

The alternate count for wave (ii) is clear,
a break above 42900 again will favor the alternate count for wave (ii).

Tomorrow;
watch for wave (iii) blue to continue lower and to trace out five waves down.
An acceleration lower from here will confirm wave ‘iii’ is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold moved higher today in line with the wave count for wave ‘c’ of (b).
But I am not convinced yet with the internal pattern of wave ‘c’.
the main count still holds at the moment as long as the rally holds in wave ‘c’.

There is also an alternate count that describes the recent action quite well.
The recent rally has traced out three waves up so far.
And wave ‘ii’ pink is a viable count here.
If the rally continues tomorrow that will rule out wave ‘ii’.
But,
if we see a return lower again to break 2600,
That will favor the alternate count.

Tomorrow;
2600 must hold from here on out as wave ‘c’ of (b) completes.
Watch for wave ‘c’ to continue to push higher as suggested.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Ok,
lets start on the 4hr chart tonight.

The price action today has invalidated the previous count quite obviously.
that action sets us back to the previous wave ‘2’ blue again.

Wave ‘2’ blue is now shown with a much larger internal pattern.
Wave [a] topped at 72.60 at the previous high.
Wave [b] traced out a long triangle,
and now wave [c] has taken the price back above the wave [a] high today.

The price will fill the trend channel for wave ‘2’ near 74.50.
And if the price hits that area soon,
then I will look for a top to form in wave ‘2’ again and wave ‘3’ down to begin.

Tomorrow;
Watch for wave [c] of ‘2’ to complete fvie waves up and fill the channel near 74.50.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Three waves up in wave ‘ii’ may be complete at todays highs.
the price has turned lower quite sharply this evening which is in line with this wave count.
but I cannot confirm that wave ‘iii’ of (iii) is underway yet.

Wave ‘iii’ of (iii) will require a drop below the wave (i) low at 5797 again.
Wave ‘iii’ should fall back towards the 5600 level when complete,
so there is potential here for a large move down.

Tomorrow;
Watch for that wave ‘ii’ lower high to hold at 5940.
Wave ‘iii’ of (iii) must continue lower as shown.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The wave count in silver is not ideal to be honest.
there is a possible five wave pattern complete at todays lows in wave (i) blue.
and from that low the price has turned higher into wave (ii).
This pattern will allow for a three wave rally over the coming few days in wave (ii) to hit a high near 30.50 again.
And from there I will look for a turn lower again into wave (iii) down.

Tomorrow;
Watch for a sideways corrective pattern to trace out over the coming week to top out near 30.50.