Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well this US inflation story is really hard to swallow in the face of a strengthening USD!

EURUSD continued the decline phase in wave ‘C’ to meet another lower trend channel line in wave [v] of ‘C’.
The pattern on the 4hr chart might show this better,
with wave [v] now closing the gap and almost filling out the channel.
If we view this wave [v] as starting at the October 29th peek,
then we can see that we have wave (iii) of [v] now forming.
And this count will allow for even one more step lower to close out five waves down.

Tomorrow;
Watch for wave (iii) of [v] to complete
and wave (iv) should head higher beginning later this week also.

So far the decline into wave (D) has extended beyond what I though it could achieve,
but that back lash higher is coming soon into wave (E).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave [ii] is not reaching as high as I had expected it to this week.
So far we have a small higher low built off the wave [i] low.
This is labelled wave (a) and (b) now in place.
Wave (c) should follow and carry higher over the coming few sessions.
I would like to see wave (c) reach up to that previous fourth wave high at 1.3600 again,
but given the real lack of momentum in the action off the low,
I am beginning to think wave (c) wont even make that target.
We will see soon enough.

Tomorrow;
We need one more push higher to complete a three wave correction in wave [ii] green.
Watch for 1.3353 to hold and wave (c) to push higher tomorrow.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The price has now reached the previous wave (iii) high at 114.70.
This action at least validates the current pattern.
Wave ‘iii’ is marching higher in five waves and it should break above the 115.23 level to complete.
This will ensure that wave ‘iii’ will not be smaller than wave ‘i’.
After that there is no major requirement for much higher prices.

Tomorrow;
Watch for wave ‘iii’ up to continue towards that 115.20 area again.
A break below 113.74 again will call this pattern complete in wave [c].

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The price rose again today and this action should begin wave ‘iii’ of (v) now.
In this count, the wave (iv) low must hold at 35910.
A break of that low will shift things towards the bearish at least in the hourly chart.

Tomorrow;
Watch for wave ‘iii’ up to push to a new high above 36560 again.
Wave ‘iii’ should accelerate the advance
and it should make the most progress towards that upper trend channel line.
If this count fails,
then I will be looking at the idea of a bearish lower high now in place at todays highs.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Todays decline is now moving the price back in line with the wave ‘ii’ idea again.
The pattern into todays highs was definitely corrective looking.
And now this spike off that high should continue lower below 1841 at least.
That action will complete a three wave expanded flat pattern in wave ‘ii’,
and then I will look higher again into wave ‘iii’ of (iii) again.

Tomorrow;
Watch for wave ‘ii’ to complete with a break of 1841 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The price has again held above the wave [ii] low today and that does at least keep this count valid for another day at least.
I have labelled todays small higher low as waves (i) and (ii) of [iii].
This should lead to a rally again in wave (iii) of [iii] over the coming days.
Wave (iii) should push above 83.70 again in this scenario.

Tomorrow;
Watch for the wave [ii] low to hold at 78.40.
Wave (iii) should continue higher tomorrow.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is on the verge of hitting a new high today in wave ‘3’ of ‘v’.
Wave ‘3’ of ‘v’ should continue higher tomorrow and push towards that upper trend channel line again.
Once the market does reach that upper channel line again,
then I will be looking for a nice impulsive decline to begin a reversal pattern off the highs.
For now it is a matter of following this fifth wave up to its end.

Tomorrow;
Watch for the wave ‘iv’ low to hold.
Wave ‘3’ of ‘v’ is expected to continue higher for another few sessions.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is falling this evening into wave ‘c’ of (ii) finally!
The price has hit the minimum expected level this evening by breaking the wave ‘a’ low,
But if this is a larger degree second wave now developing,
then we should see a further decline back into the 24.00 area again to setup for a larger rally in wave (iii) next week.

Tomorrow;
Watch for wave ‘c’ of (ii) to continue lower towards the wave ‘i’ high at 24.00 flat.