Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

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EURUSD daily.

I am showing a variation of the ending diagonal pattern for wave (v) tonight.
Wave ‘iii’ can be viewed as a three wave decline as shown.
In this scenario we will see a relatively small three wave correction in wave ‘iv’ tomorrow,
then wave ‘v’ should continue to tighten the noose to the downside in wave ‘v’.

Tomorrow;
Watch for wave ‘iv’ to trace a three wave pattern higher into 1.1550 again.

GBPUSD

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GBPUSD daily.

WAve (v) of [i] has a grip on the price these days!
But I suspect that this wave is out of steam now as we are basically flat on last nights close,
with very weak downside action also.

Tomorrow;
Watch for wave (v) of [i] to complete a five wave decline very soon.
Maybe we will see a drop into the lower trend channel line,
but that should be followed by a rally into wave [ii].

USDJPY.

USDJPY 1hr.

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USDJPY daily.

Wave ‘i’ has not turned over into wave a corrective decline yet in wave ‘ii’.
The price action is flat and corrective looking on the day,
but I am expecting a drop into above 113.40 or so to complete wave ‘ii’.
Then wave ‘iii’ will be open to rally towards 115.00 next week.
So at the moment I am waiting for a bullish higher low to form in wave ‘ii’.

Tomorrow;
Watch for wave ‘ii’ to complete that higher low as suggested and then wave ‘iii’ should be free to begin on Monday;

DOW JONES.

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DOW daily.

Wave ‘iv’ has hit the very upper end of the wave ‘iv’ price range at 35900 tonight.
This may be enough for wave ‘iii’ to close out,
but I am still allowing for wave ‘c’ to find that final low down around 35500 before wave (v) begins.
At the moment the action off the top looks corrective,
and this does suggest we will see another rally next week in wave (v).

Tomorrow;
Watch for wave ‘c’ to complete by tomorrow evening.
We may even see the initial spike higher into wave ‘i’ of (v) tomorrow also.

GOLD

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GOLD daily.

Gold has held on impressively to that spike rally today,
but so far the action does look corrective to the upside today.
The decline into wave ‘ii’ requires a clear three wave pattern,
and I think wave ‘ii’ will fall back into that 1832 level to complete.
So another day or two of declines is on the cards now as wave ‘ii’ completes.

Tomorrow;
Watch for wave ‘ii’ to return lower again tomorrow and hit that band of support at the 1830 level at a minimum.

CRUDE OIL.

CRUDE OIL 1hr.

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CRUDE OIL daily.

I was looking for wave [iii] up to begin today but that was not to be!
The pattern off the wave [i] high now looks more likely as a five wave pattern lower.
If that is correct,
then wave [ii] is building a larger three wave correction,
and that will take a few days to play out I think.

The invalidation line remains at 77.70.
If that level breaks, that will rule out the main count for wave ‘4’ and ‘5’ and I will have to go back to the drawing board.
AS long as the level holds,
then we are on track for a rally to build in wave ‘5’.

Tomorrow;
wAtch for wave (b) of [ii] to push higher in three waves.
A break above the wave [i] high at 83.70 will signal wave [iii] is underway.

S&P 500.

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S&P 500 daily.

the slight rise today does not add much to the picture here,
the action is very shallow and I cannot confirm that wave ‘iv’ is complete with that small of a rise.

I would like to see wave ‘v’ begin with a break above 4685.
So I will wait to see if that happens tomorrow to signal wave ‘v’ is underway now.

There is still a reasonable chance that wave ‘iv’ will extend into a more complex pattern,
so that could bring the price lower again.

Tomorrow;
Watch for wave ‘iv’ to begin with a break above 4685.

SILVER.

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SILVER daily.

Silver has reached back above Wednesdays spike high again today.
At the moment I am viewing this move as wave ‘b’ of (ii).
Where wave (ii) is an expanded flat correction.
Wave ‘c’ of (ii) should begin tomorrow and the decline should break the low of wave ‘a’ at 24.50 a minimum.
Even if the decline in wave ‘c’ does extend lower I suspect the price will hold above that rising trend line to stay within the bullish trend.

Tomorrow;
Watch for the price to roll over into wave ‘c’ down to target 24.50 at a minimum.