Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The cut off for this ending diagonal pattern in EURUSD lies at 11.1616.
So far wave ‘iv’ of (v) has held below this level,
as a result this pattern in wave (v) is still valid.

I am going to allow another day for wave (v) to sort itself out,
a drop below 1.1512 again will do just that.
And then I will begin looking higher into wave ‘A’ of (E) again.

Tomorrow;
Watch for wave ‘v’ of (v) to find that final low with a break of 1.1512.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave (a) has now traced out a five wave pattern higher off the wave [i] low at 1.3423.
The price is now moving higher in a zigzag correction in wave [ii],
Overall we should see a 5,3,5, pattern higher into wave [ii]
and the target area lies at about 1.3700 at the previous wave (iv) high.

Tomorrow;
Wave (b) has begun with a drop off the session high at 1.3608.
Watch for wave (b) to complete a higher low tomorrow,
and then wave (c) should push higher into the target area by Thursday.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has dropped far enough now to consider wave (iv) complete at todays lows.
the price has filled the channel surrounding wave (iv) today,
as long as the high at wave (i) holds at 112.07,
then this count remains valid.
If that level breaks, then I will consider the top in place for wave ‘B’ at the recent highs.

Tomorrow;
Watch for wave (v) to begin with a rally back above 114.00 again.
112.07 must hold.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

An extended wave (iii) seems to have finally topped out a five wave rally today.
a very slight pullback in the Dow is suggesting that wave (iv) is now beginning.
I have labelled todays drop as wave ‘a’ of (iv),
wave ‘b’ and ‘c’ should complete a three wave correction this week.
And I am looking at the low of the previous fourth wave as an initial target for wave (iv),
so that gives us 35,500 to aim for,
we will see if it gets that far in wave (iv)!

Tomorrow;
Watch for wave ‘a’ to complete and then wave ‘b’ to form a lower high.
Wave (iv) should complete this pattern by Thursday evening I suspect.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is drawing very close to that 1835 resistance line today,
but so far the rally has failed to break that level to confirm this bullish count.
We could easily see that level break tomorrow,
but as long as it holds then the alternate count is a possibility.

Back to the main count,
the rally in wave ‘i’ has completed five waves up and we will see a correction begin this week in wave ‘ii’.
I suspect wave ‘ii’ fall back below the 1800 level again to complete this bullish impulse wave,
And with that, gold will be on the verge of a serious acceleration higher into wave ‘iii’ of (iii) of [iii] over the coming weeks.

Tomorrow;
Watch for wave ‘i’ to complete and then fall back in a three waves correction into wave ‘ii’ as shown.
the low at 1758 must hold.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has complete five waves up in wave [i] this evening.
the price has just rebounded back above last weeks spike high at wave [b],
which shifts the pattern back in favor of the bullish count.
And now we have an impulsive setup in play for wave ‘5’ blue.

Wave [i] should complete tomorrow and then wave [ii] should correct back into 81.50 again.
That will clear the way for a rally into wave [iii] to begin by the end of this week.
In this scenario wave [iii] should push towards 87.00 again next week.
A break of that 85.04 level again will signal wave [iii] is already underway.

Tomorrow;
Watch for wave [i] to complete and wave [ii] to fall back in again in three waves.
Wave [ii] should form a higher low above 77.70 at the very low end by the end of this week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has fallen off the highs in three waves so far today,
and I am viewing this decline as a correction in wave ‘4’ of ‘v’.
this pattern should lead to another pop higher in wave ‘5’ of ‘v’ by the end of this week.
The pattern in wave ‘v’ pink is working higher in that red trend channel now,
and if wave ‘5’ hits the upper line of that channel again,
that will leave us with a top in the area of 4770.

That will complete a nice neat five wave pattern in wave (v) blue and wave [v] green.
So I am getting close to a possible turning point in this market also tonight.

Tomorrow;
WAtch for wave ‘4’ of ‘v’ to hold above 4626 at the wave ‘1’ high.
Wave ‘5’ of ‘v’ should begin tomorrow if this correction is complete this evening.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is moving higher off a correction in wave ‘iv’ today.
The price dropped in three waves to 24.01 and now we have a rebound underway this evening to begin wave ‘v’ of (i).
Ideally wave (i) will complete with a break of 24.83 at the wave [i] high.
If that happens it will really swing the odds in favor of the idea that wave [iii] is now underway.

Tomorrow;
Watch for wave ‘iv’ to hold at this evenings lows of 24.01.
wave ‘v’ up must break 24.52 at a minimum.