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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Ok,
EURUSD broke to a slight new low for the pattern today and that invalidates the previous idea for wave (v) of [c] of ‘2’.
The pattern now shifts back to wave (v) of [c] again tonight.
And I have to wait for a new low to form here before looking higher into wave [i] of ‘3’.

Wave (v) blue can be broken into a series of three wave patterns which suggests a possible ending diagonal.
I will wait for a tag of the lower trend channel line again to complete wave (v) early next week,
and from there I will look for a rally off the low to begin wave [i] of ‘3’ later in the week.

Monday;
Watch for wave ‘v’ of (v) to hit the lower trend line at about 1.0150 and then we will see if the price will reverse higher to begin wave (i) of [i].

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable broke to a new low again today which shifts the final decline in wave (v) towards a standard five wave decline now.
I am suggesting an extension in wave (v) blue now.
And this wave pattern may even meet the target low at 1.20 to complete the larger wave [c] now.
If that happens,
then I will be much happier about the larger pattern on the 4hr chart for wave ‘2’.
And from there I will be looking higher into wave ‘3’.
but that is a little ahead of us now.

Monday;
Watch for wave ‘iii’ of (v) to complete a five wave pattern as shown by the middle of next week.
a break of 1.2350 again will invalidate this pattern.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is still struggling to accelerate into wave ‘iii’ pink today.
That gives us a whole week of sideways action,
and that does suggest a corrective wave is in play here.
Wave ‘2’ of ‘iii’ fits the action this week.
But we need an acceleration higher to confirm wave ‘3’ of ‘iii’ early next week.

Monday;
watch for wave ‘3’ of ‘iii’ to push higher towards 160.00.
A break of 158.80 again will put this pattern back on track.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A new low for the Dow to end the week which complicates the pattern here.
but I don’t think the current wave count is ruled out yet.
The market has drifted lower to hit the lower channel line again this evening.
And overall the action has been relatively corrective.
Also I think there is a three wave pattern in place overall for wave ‘b’ of (ii).
and if this pattern is correct,
then we will see a five wave rally off the lows to hit the wave ‘a’ high again at 43330.
That will complete the larger pattern in wave (ii).
and from there I will look for a turn lower into wave (iii).

Monday;
Watch for wave ‘b’ of (ii) to hit a final low at this lower trend channel line.
And from here we should see a rally begin in wave ‘c’ of (ii) as shown.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

It is time to start again in the gold pattern.

The overall action is just not fitting either of the patterns that I spoke about this week.

So,
I am now looking at a larger correction in wave (b) taking the form of a triangle.
The price has moved very correctively overall this week.
And even though the market was moving higher,
there is just too much overlap in the action to call that a five wave pattern.

I think a three wave rise into wave ‘c’ of (b) within a triangle does fit a little better here,
And from here it looks like a decline in wave ‘d’ is coming our way early next week.

Monday;
watch for wave ‘d’ to fall in three waves to hit the lower trend line near 2620.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

That rally in cable came in fast and blew out the previous idea for wave [c] of ‘2’.
the high of the session actually came close to breaking out of this wave count for wave ‘2’ completely.
So,
as it stands,
wave [c] is too close to the invalidation line for comfort.
the price did come off the top sharply also,
and that does give a glimmer of hope that the top is in for wave ‘2’,
and it gives a chance to wave [i] down to begin again.

Monday;
Watch for wave [i] to fall in five waves from here and break the wave (iv) lows at 72.40 to confirm this count.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Well,
I cannot complain about the action in the S&P today that’s for sure.

the market dropped sharply out of that wave ‘4’ triangle pattern early in the session,
wave ‘5’ now completes the larger wave ‘i’ pink.
and now we have a double bottom with wave (i) blue at the session lows.
The market bounced off that wave ‘i’ low to begin wave ‘ii’ pink.
and I have labelled wave ‘a’ ad ‘b’ of ‘ii’ already in place.

Monday;
It is too early to confirm that count for wave ‘ii’ pink at the moment.
but if we do see a rally on Monday again in wave ‘c’ of ‘ii’,
that will probably challenge 5900 again at the previous wave ‘ii’ highs.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has been hovering around the 50% retracement level of wave (i) all this week.
the price has made a few attempts to turn lower off a possible wave (ii) high,
and each time the decline failed to begin wave ‘i’ of (iii).

The rally overall into todays highs is still best described as corrective in wave (ii).
but I will need to see some confirming price action on Monday to signal wave (iii) is finally underway.
So it is imperative that wave ‘i’ of (iii) fall from here below 29.00 again.

Monday;
Watch for wave (ii) to hold.
wave ‘i’ of (iii) should fall impulsively from here in five waves.
A break of 29.40 again at the wave ‘b’ low will signal wave ‘i’ is in play.