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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The minimum target for wave [c] green has been met this week with a break below 1.0450.
That level marks the wave [a] low which formed all the way back in September 2023.
It has been a while coming,
but the pattern is working perfectly here for wave ‘2’ blue.

I do not think we are done yet for wave [c] though.
Wave [c] only has a three wave pattern in place.
and we should expect a five wave decline.
This suggests that wave [c] will hit parity again before completing the overall correction.
And from there we can look higher into wave ‘3’ up.

Tomorrow;
Watch for wave (iv) of [c] to begin a correction higher in three waves as shown.
The initial target for wave (iv) lies at the previous wave ‘iv’ high at 1.0609.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The pattern in cable is running in perfect unity with EURUSD this week.
Wave ‘v’ of (iii) is getting close to complete now,
the price has not rebounded off the session lows enough yet to signal that wave (iv) is underway.
That may happen on Monday,
so I will allow for another day to complete wave ‘v’ of (iii),
and then wave (iv) can begin a correction higher towards 1.2715 again at the previous wave ‘iv’ highs.

Monday;
Watch for wave (iii) to complete and then a bounce off the lows into wave ‘a’ of (iv) should begin.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

A small corrective move higher today is in keeping with the main pattern on the short term chart again.
so I will continue with this idea until the action invalidates the pattern.

Wave ‘iii’ pink may now be in play here as the price has traced out a possible ‘1’ ‘2’ pattern to the downside.
Wave ‘iii’ pink will trace out five waves down overall.
and that should break below 152.00 at a minimum to keep this reversal pattern in play for wave (i) down.

Monday;
Watch for wave ‘3’ of ‘iii’ to turn lower again and hit that 152.00 handle to signal wave ‘iii’ of (i) is in play.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I think we can rule out the possibility of a lower high building here after todays rally.
The punters want more,
so be it.

If we get a new high there is a potential pattern for wave [v] blue that covers that quite nicely.
That is an ending diagonal.
Where wave [v] breaks up into a series of five three wave moves.
So,
I will wait and see if that is where wave (v) of [v] goes on Monday.

If the price drops sharply on Monday,
then the lower high stands,
and wave (i) down is back in play again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is back at it again today!
The rally in wave (b) continues towards the 78.6% retracement of wave (a) with another step higher in todays trade.
I think we can view the pattern off the top a bit different now.
I am showing a three wave decline into wave (a).
and now a three wave rally into wave (b).
Todays rally brings us close to the top of wave ‘c’ of (b).
and now we should see a turn lower to begin wave (c) over the coming days.

Monday;
Wave (c) should fall in five waves.
So,
watch for wave ‘i’ of (c) to drop back towards 2617 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

It is time for a rethink of the pattern in crude oil after todays trade also.
Last nights pattern is not invalid yet,
but I think the rally off the recent lows has come far enough to at least think about another possibility here.

There is a good chance that we are still moving in wave ‘2’ blue here.
And that pattern will allow for a break above 72.60 again at the wave [a] high.

I have shown a possible triple combination into the wave ‘2’ high,
that pattern might easily change give the action on Monday.
But the target for wave [c] remains at the same level.

Monday;
Watch for wave [c] of ‘2’ to push higher towards the previous wave [a] high at 72.60.
Then later in the week I can look for a turn into wave ‘3’ again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is actually still moving in the pattern of a corrective lower high today.
The price action is stuck within that corrective channel higher,
so the wave ‘ii’ label remains valid I think.

I may be proved wrong again on Monday,
I have no problem admitting that.
But in general,
the recent decline is a five wave pattern,
and the rally off this weeks lows is corrective looking.
so the bearish lower high idea holds for now.
We will soon see if that holds up on Monday;

Monday;
watch for wave ‘ii’ to hold below the highs.
A third wave decline will break wave ‘i’ easily so the test is simple here.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver remains stuck in a correction higher today.
The wave ‘b’ higher low held at 30.64,
and now the price is moving higher into wave ‘c’.
I am still eyeing that 50% retracement level at 32.26 as the main target for wave (ii).
and from there I will turn my attention lower into wave (iii) next week.

Monday;
Watch for wave ‘c’ to continue higher to hit the 50% retracement level.