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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well EURUSD seems to be in a never-ending wave ‘i’ over the last while!
But that is not the case,
this decline is very close to done here,
and I am still looking for the turn up into wave ‘ii’ to begin this week.
The first pop above 1.0900 again will be the signal that wave ‘ii’ has begun.

so that remains the goal over the coming days.

Tomorrow;
Watch for wave ‘i’ down to complete even though it is very extended at the moment.
Wave ‘a’ of ‘ii’ will come with a break of 1.09.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable made a new low today also but I am sticking with the idea that wave ‘ii’ is actually underway here already.
The price made a new low in wave ‘b’,
and wave ‘c’ is yet to turn higher towards 1.3100 at a minimum.
I am still looking at the 1.3200 level as the main target at the 50% retracement level.

Tomorrow;
Watch for wave ‘c’ to turn higher in five waves over the coming days to hit the 1.3200 area.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is back above 150 again this evening and that brings us close to the target level on the 4hr chart.
WAve [c] of ‘B’ is the larger wave that I am tracking here.
And that will reach a 50% retracement of the wave ‘A’ decline at 151.78.
The price has rallied 1100 points off the wave [c] lows,
and we are ever closer to the end of this rally now.

I mention this 4hr count in order to remain vigilant for an earlier turn lower into wave ‘C’.
I will keep one eye on that possibility.

The hourly chart will allow for more upside as we are only completing wave (iii) of [c] at the moment.
Wave ‘v’ of (iii) has a target above 153.00 as a ballpark.
and I suspect we can get there by the end of this week.

Tomorrow;
Watch for wave ‘v’ to continue higher over the coming days to complete wave (iii).
A break below 149.00 again will raise the possibility that wave [c] is completing as per the 4hr chart.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is tracing out a lower high this evening after a reasonable impulse wave yesterday.
I am looking for five waves down to hit the wave ‘iv’ low at 41800 now.
And until that happens,
I am going to hold out on getting excited for the downside here.

Tomorrow;
If the market turns lower again tomorrow in an impulsive move,
that will bring us much closer to that wave ‘i’ target.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The price action within the last few waves up has quite a lot of internal overlap in it.
Usually that action suggests an declining momentum in the move,
and at new all time highs this week,
I think that requires another take on the wave count to reflect that fact.

The main count is following wave (v) up.
with wave ‘iii’ of (v) close to topping out now.

The alternate idea shows wave ‘v’ pretty much done at the current highs.
And that alternate idea fit the choppy action a little better I think.
So just keep one eye on a possible top for wave ‘3’ happening sooner than expected in the main count.

Tomorrow;
Watch for wave ‘iii’ to top out and then wave ‘iv’ must turn lower again as shown.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil triggered the alternate count today with a larger than expected rally.
Wave ‘1’ is now shown as complete at the recent lows at 68.24.
Wave ‘2’ should begin from this point.
Wave [a] of ‘2’ has already traced out three waves up at todays highs.
Wave [b] will correct to a higher low over the coming days in this scenario.
and then wave [c] of ‘2’ is projected towards the 62% retracement of wave ‘1’ at 74.24 to complete three waves up.

Tomorrow;
Watch for wave [a] to top and then turn lower in three waves in wave [b] as shown.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

It looks like S&P is only correcting again today and that means we will see another step higher tomorrow into wave ‘5’ black.
That will complete wave ‘v’ of (v) and then I will look for a turn into wave ‘i’.

I want to draw your attention to the 4hr chart.
The price has now reached the upper trend channel line of the larger wave ‘C’ rally.
This fact is not to be missed.
The result of a completed wave ‘C’ and by consequence wave (B) will be a massive decline into wave (C) red.
I am not saying this starts now,
but I know we are very close to that reality as it stands.

Tomorrow;
Watch for wave ‘5’ of ‘v’ to top out with one more step higher as shown.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

WAve ‘3’ reached the upper trend channel line today and that should top out the current rally.
WAve ‘4’ is now expected to turn lower from here for a few days.
the correction in wave ‘4’ must complete above 32.17.
and then wave ‘5’ can turn higher again to complete the larger wave ‘iii’.

Tomorrow;
Watch for wave ‘3’ to top out and then fall in three waves in wave ‘4’ black.