Good evening to one and all,

God’s Blessings to you all tonight.

This is the video update from this morning.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is very close to hitting that wave (a) high at 1.1625 again tonight.
The price has not accelerated higher off the wave (b) low,
but I think the action favors the idea that EURUSD has turned higher off the wave (D) low now.
If this is correct we should see at least three waves up towards 1.1700 over the next few sessions in wave [a] of ‘A’.

We can also view wave ‘A’ in terms of a five wave pattern.
In this case we should be turning higher into wave [iii] today.

Tomorrow;
watch for wave [a] to continue higher and complete three waves up.
the low at wave (b) must hold at 1.1572.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is tracking higher again today and so far the main count explains the action quite well.
Todays action is viewed as a correction in wave ‘iv’ of (iii) of [c].
In this scenario we should see further upside for at least the rest of this week
as wave [c] completes a five wave pattern higher.

Tomorrow;
Right now,
the low at wave ‘iv’ must hold at 1.3710.
Watch for wave ‘v’ to continue higher into the upper trend line again at about 1.3860.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The action today is forming a triangle around the 114.22 level.
I am viewing this as a triangle within wave ‘v’ of (v),
in this case we need a small spike higher to complete wave ‘v’ of (v) of [c].
this will in turn complete wave ‘B’ and then open up the possibility of a sharp decline into wave ‘C’ over the comign weeks.

Tomorrow;
This pattern is so very near to complete now.
I think one sharp spike lower into the 113.00 level will signal the turn has begun.

Watch for wave ‘v’ to complete with a tag of that upper trend channel again at 114.50.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

well the price has rebounded today off a slide in the futures this morning,
but this action is inconclusive at the moment.

I am tracking this expanding wedge pattern in wave (c) of [ii]
and the price is at the very upper limit of this wave count now.
The cut off level for this bearish pattern lies at 35510.
It is a shame to be saying this,
but if that level breaks then we are looking at the possibility of a further five wave rally into 38000.
I will cross that bridge if we come to it!

For the moment there is a bearish pattern in play here as we complete a lower high in wave [ii].
With the expectation that the price will turn lower into wave [iii] this week.

tomorrow;
This pattern is way too close for comfort here.

Watch for wave ‘v’ of (c) of [ii] to complete below 35500.
I would like to see a sharp decline tomorrow to kick off the turn into wave (i) of [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

In an ideal world gold will fall below 1750 again to complete an expanded flat correction this week.
and then we can plane for a rally up into wave (iii) of [iii] to take hold next week.
This is the outline idea here,
and I do think gold will really start to rally strong once that turn happens.

The pattern is calling for wave ‘c’ of (ii) to complete with a break of 1750 once more.
That should set a base to work higher into wave ‘i’ of (iii) before the end of this week.

Tomorrow;
Watch for wave ‘c’ of (ii) to find a final low tomorrow at 1750.
1721 must hold.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The pattern in wave [iii] is not working out as I had expected it to today.
the price has dropped again below the 82 handle,
and this is putting the short term count under pressure here.
It may be the case that we are working towards a top in wave ‘5’ sooner than expected.

The count for wave [i] and [ii] is solid.
So if we get a drop back below 78.90 again at wave [ii] then I will be willing to look at a topping scenario again.
Right now the rally in wave [iii] is still possible as long as wave (iv) holds above 80.45 at the wave (i) high.

Tomorrow;
Watch for wave (iv) to complete and wave (v) of [iii] turn higher again into the 84.00 area.
Wave (i) must hold at 80.45.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have switched to another interpretation for wave [ii] this evening.
It involves a triple combination wave,
where wave (c) will trace out a three wave pattern rather than a normal five wave rally.

We now have a five wave pattern in place in wave ‘c’ of (c).
And the rally in wave (c) has reached above the wave (a) high again.
This completes the minimum expected target for wave (c),
and we have a completed pattern also.

The pattern suggests a reversal is close now,
and I would like to see a decline begin tomorrow in wave ‘i’ of (i) as shown.

Tomorrow;
Watch for wave ‘c’ of (c) to top out and then turn lower again.
A five wave decline below 4400 will signal wave ‘i’ of (i) is in play.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

We have a slight new low in place today at the 23.00 level.
This complete a three wave decline in wave ‘ii’.
the price has spiked higher off that low again today,
so there is a reasonable chance that wave ‘ii’ is now complete.
If this count is correct,
then we should see a rally develop into wave ‘iii’ of (iii) this week.

tomorrow;
Watch for that rising trend line to hold again as wave ‘ii’ bottoms out.
Wave ‘iii’ up is set to rally again soon.
A break of 23.60 again will signal wave ‘iii’ of (iii) is under way.

22.32 must hold.