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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am taking a different view on this decline tonight.
The momentum has dropped off to nothing now,
and I am suggesting that wave (i) (i) of [c] is now in place.
If we see a larger correction higher tomorrow,
that signal wave (ii) is in play.

Tomorrow;
Watch for wave (ii) to trace out three waves up and complete near 1.09 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has traced out a small three wave pattern higher today and favors the main count at the moment.
the price has not accelerated into wave ‘iii’ of (i) yet,
but I can allow another day for that to happen.
A break of 1.2500 again will signal wave ‘iii’ is underway.

Tomorrow;
Watch for the price to turn lower early tomorrow and fall below 1.2500 to confirm wave ‘iii’.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY really did accelerate lower today and I am calling wave ‘iii’ of (c) complete now after that big move lower.
the price has already hit my initial target for wave [a] now,
so I wont be surprised if the price goes straight into wave [b] from todays lows.
the internal pattern of wave (c) does suggest one more step lower to complete the pattern,
so lets see how big the rebound off todays low ends up being.

Tomorrow;
Watch for wave ‘iv’ pink to trace out three waves up towards 145.00 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We have a small lower high now in place this evening and I am continuing with the wave ‘i’ pattern off the top here.
The initial move off the high is wave ‘1’ and ‘2’ which begins the larger wave ‘i’ down.
So,
if this pattern is correct here,
then we should see wave ‘3’ of ‘i’ fall into the 35500 area over the next few sessions.
I am still looking for a drop into the initial support at 35280 for wave ‘i’ to complete.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has not recovered from this weeks sharp drop off the upper channel line.
so I think it is worth our time following the alternate count again tonight to see if that offers us more clarity.
I can’t rule out the main count yet,
but for tomorrow I will concentrate on the alternate.

Tomorrow;
Watch for wave (ii) to complete a three wave correction towards 2050 again.
Wave ‘c’ of (ii) should complete in that area,
and then wave (iii) of [c] should turn lower again early next week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has not started its correction higher into wave [iv] yet.
even though the price made a very slight new low for wave [iii] today,
I do think that this decline phase is now over here,
and we should expect a rally into wave [iv] over the coming week.

Tomorrow;
Lets see if wave (a) of [iv] can turn higher over the coming few days.
A break above 72.40 again will confirm wave (a).

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has failed to follow through into wave ‘i’ down so far today.
The price has rallied back again to form another lower high below the wave [ii] top.
It is possible of course,
that the short term count will be invalidated tomorrow if this rally continues higher again.
WE will know pretty early tomorrow because there is a very slight margin for error here at the moment.

Tomorrow;
Lets see if the price can turn back into wave ‘i’ down again.
I can’t say much more until that happens.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Tonight I am wondering if wave ‘ii’ is further along in its pattern than I previously thought.
If we look at the pattern off the top,
we can see a possible 5,3,5, zigzag correction in wave ‘ii’.
One more drop will complete a full pattern,
and then I can look for a rally into wave ‘iii’ to begin next week.

Tomorrow;
Watch for a low in wave ‘c’ of ‘ii’ near the 62% retracement level at 23.42.