Shalom my friends and God’s Blessings to one and all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Another sharp drop today brought the price down below the previous wave [b] support at 1.1687.
This action adds weight to the overall bearish pattern in wave ‘C’.
And once we see a break of the wave ‘A’ low at 1.1611 that should lead to a larger decline towards the 1.10 handle again.

Tomorrow;
We are near to completing five waves down in wave [i] now,
with wave (iii) complete at todays lows and wave (iv) and (V) left.

Watch for the correction in wave (iv) to hold below 1.1786 at the very top end.
Although I would like to see wave (iv) hold below 1.17.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is still holding out on me today.
The price is steppinng lower in general,
but the price is failing to put in a sustained decline as per EURUSD.
The bearish count showing a developing wave (iii) is still the best fit pattern at the moment,
so I will allow more time for wave (iii) to push lower tomorrow.

Tomorrow;
I want to see wave (iii) of [c] push into the lower support level at 1.2674 before any real correction hgiher begins.
Watch for wave ‘iii’ of (iii) to continue lower tomorrow in five waves.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays rally is substantial enough to look for the a reversal to begin
up into the large degree wave [C] again.

Even through todays low did not break the previous low at wave [iii],
I am now viewing the recent five wave decline as a completed failed fifth wave in wave [v].

Tomorrow;
Watch for wave (i) blue to push back above the previous wave (iv) high at 105.05 again to signal that a turn is again in play.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It was a long wait for this impulsive decline to happen to begin wave ‘3’ down,
but it has not disappointed this week has it!

The price finally broke decisively below the previous wave ‘1’ low at 26537 today.
And with this action I think we now have five waves down complete in wave [i] green.

The rally off that low is now viewed as the initial move higher into wave [ii] as shown.
I have labelled it as wave (a) of [ii],
wave (b) should come in tomorrow and then wave (c) early next week.

Tomorrow;
Watch for wave (b) to to form a higher low above todays lows.

When wave [ii] completes next week,
that should lead to another sharp decline into wave [iii] of ‘3’.
And that could be a very big move!

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold took another step lower into the bearish pattern today,
so far we are looking at a decline in wave [iii] getting underway.

I am now showing an extending pattern developing off the high at wave [ii] green.
This involves an initial (i),(ii) wave down,
and now wave ‘i’ and ‘ii’ of (iii) should complete tomorrow.

I am looking for that clear acceleration lower to happen in wave (iii) of [iii] to carry us down below the 1800 level.
A break of the wave [i] low at 1848 will signal that has begun.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ of (iii) to complete by tomorrow evening.
Wave ‘ii’ should hold below 1900.
And a break of 1911 will invalidate this short term count.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has fallen enough this week to call the decline wave (iii) of [iii] as shown in the updated wave count this evening.

The price has now almost filled a trend channel off the high at wave ‘2’,
and this action suggests an extension is forming within wave [iii].

If tonight’s count is correct,
then we should expect a consolidation in wave (iv) over the next few sessions,
and then a sharp decline in wave (v) of [iii] by the middle of next week.

Tomorrow;
Watch for a three wave correction in wave (iv) to develop.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I can count a clean five waves down in wave (iii) complete at todays lows.
This action suggests wave (iv) of [iii] is now underway,
and the rally off the low today is wave ‘a’ of (iv).

The price is falling again as we hit the closing few minutes of trading today,
so I suspect wave ‘b’ of (iv) is now underway.
Wave ‘c’ should complete wave (iv) back above 3341 again.

Tomorrow;
Watch for wave ‘b’ to complete above todays lows
and then rally to complete three waves up by the end of the sessions tomorrow.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has rebounded strongly off the session lows today and pushed back into the previous wave ‘iv’ high again.
It looks like wave (iii) of [iii] is now complete at todays lows.
But this action does muddy the water a little in terms of wave (iv) though.
I am tempted to call the tight price action this evening as a very stretched triangle wave (iv).
I am not convinced on that one at all though!

We should get some clarification on wave (iv) tomorrow;
Tomorrow;
Watch for wave (iv) to complete possibly by tomorrow evening.
The price should hold below the 24 handle from here on out.
And we should see wave (v) of [iii] come in early next week.