Good evening folks, the Lord’s Blessings to you all.

Bad news first, another war is coming…..

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am still waiting for that five wave pattern lower to develop in EURUSD that will indicate a turn into the next leg down has begun.
The price is moving slowly into wave (i) of [c] at the moment.
but we have not had a clear acceleration in this move yet.
Wave ‘iii’ of (i) should drop back below 1.0700 again to give this pattern a boost.
So lets see if that can come our way tomorrow.

Tomorrow;
WAtch for wave ‘iii’ of (i) to fall into 1.0700 to give this bearish pattern a probability boost.
Wave (i) of [c] should retrace most of the previous rally in wave (c) when complete.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has flatlined also today and with that I can’t rule out a corrective decline into todays lows.
The price has filled a trend channel off the highs now.
And the altertnate count here is for wave (iV) and (v) to take one more step higher to complete wave [c] later this week again.

For the moment I can continue with the main count in wave (i) of [i].
If we do see further declines tomorrow,
that will favor the main count.

Tomorrow;
Watch for wave ‘iii’ of (i) to fall back below 1.2500 again to confirm the main pattern.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘iii’ of (c) has not taken that great leap down to confirm the main pattern here today.
the current high does continue to look corrective after todays action.
Wave ‘1’ and ‘2’ of ‘iii’ have created a lower high,
and the next step here is for wave ‘3’ of ‘iii’ to turn lower again.

So I will look for wave ‘iii’ to continue lower this week as suggested.
A break of 145.00 again will confirm this count.

Tomorrow;
Watch for wave ‘2’ to hold below 148.52.
A break of 146.20 again will signal wave ‘3’ of ‘iii’ is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action so far this week does look corrective to be honest.
And if so,
we can expect another challenge of the recent highs again.
I am pushing the boat out here tonight suggesting that wave ‘v’ of (v) has corrected into todays lows.
Wave ‘4’ of ‘v’ is now complete,
and wave ‘5’ of ‘v’ will make a new high tomorrow.
If that happens,
and then we get an impulsive reversal off that top.
then I will be more comfortable about the position we are in here.

Tomorrow;
Watch for wave ‘v’ pink to complete and then reverse sharply into wave ‘i’ of (i).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is ever so close to invalidating this bullish count tonight.
And because of that I have shown the possible alternate count for wave [c] of ‘2’ again.

If the price breaks below the 2009 level again that will swing the probability back in favor of that alternate idea.
So watch that wave [i] high at 2009 tomorrow.

The alternate idea does allow for a correction higher into wave (ii) over the coming days,
so we can have a bounce in both scenarios.
But I gotta admit,
I am watching that alternate count pretty closely as this week goes on.

tomorrow;
the wave [i] high at 2009 must hold.
Wave [v] of ‘2’ simply must rally hard from here to favor the main count again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is holding back at the lows of wave (iii) again tonight and this does mean wave (v) has reached its minimum target here.
Wave ‘v’ of (v) has the potential to make a new low of course,
but I am now actively looking for this pattern in wave (v) of [iii] to close out this week.
and I suspect next week will begin a larger correction higher into wave [iv] green.
Wave [iv] green will carry the price back up to the 80.00 level again when complete,
and that will be in a three wave pattern overall.

Tomorrow;
Wave ‘v’ of (v) of [iii] should find a low over the next few sessions and I am suggesting a final low above the 70.00 level.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am going out on a limb here tonight also with this one!

There is a three wave pattern in place at todays lower high.
and I have labelled this as wave ‘2’ of ‘i’ now.
Obviously this count can be invalidated pretty easily here,
but if we do gat another spike lower tomorrow into wave ‘3’ of ‘i’ that will give some breathing space below that invalidation level again.
and it will bring this pattern one step closer to a clear five wave decline off the top.

I am holding out hope against the odds here,
but as long as this bearish count for wave [ii] remains valid I will stick with it.

Tomorrow;
Watch for wave ‘3’ of ‘i’ to fall again and break the low at 4536.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The initial decline off the highs in silver has traced out five waves down into todays lows.
So that completes wave ‘a’ of ‘ii’ in a zigzag correction.
Wave ‘b’ should track higher for the next few sessions and complete three waves up near 25.00 again.
That will leave wave ‘c’ of ‘ii’ to complete early next week with one more drop into the 23.00 area again.

Wave ‘ii’ is expected to complete a three wave decline overall into wave ‘ii’ pink.
And I am looking at the 62% retracement level at 23.42 as a reasonable target.

Tomorrow;
Watch for wave ‘b’ to turn higher in a corrective three waves towards 25.00 again for the rest of this week.