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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The higher low is now holding above the wave ‘b’ low at 1.0452.
It is time for wave ‘c’ to begin,
and the action today suggests wave ‘c’ is now underway.

Monday;
watch for a five wave rally in wave ‘c’ to continue higher to hit 1.0628 at a minimum.
Wave ‘c’ will reach equality with wave ‘a’ at 1.0715.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has now dropped below the wave ‘b’ lows at 1.2600 which I marked at the minimum target for a reversal into wave (i).
I dont think we have a five wave pattern lower in place yet for wave ‘i’.
The price will step lower once more in waves ‘4’ and ‘5’ to complete the pattern if I am correct,
and then by midweek we should see a turn higher into wave ‘ii’.

Monday;
Watch for wave ‘i’ down to trace out a five wave pattern with a low near 1.2500 when complete.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am taking a different tack today on USDJPY.
The rally into todays high has gone to far to be classed as a fourth wave of wave [i].
I am now suggesting this is waves [i] and [ii] of the larger wave ‘C’ down.

The rally has reached the 62% retracement of the initial decline in wave [ii].
And we have a three wave pattern overall.
so the credentials are all there!
The next move is wave [iii] down.

Monday;
Watch for wave [ii] to top and turn into wave (i) of [iii] by the end of Mondays trade.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The pattern off the top in the DOW is quite strange to watch.
Each internal step lower is almost identical in size,
almost programmatic to be honest.
But,
This is a decline off the top
and I will consider this as a possible end to the previous rally in wave ‘C’ of (B).

The decline has not gone far enough yet to define this as impulsive.
And I am keeping an eye on that wave ‘b’ low at 42880 as an indication of the seriousness of the intentions here.
If we see a break of that level next week,
then we might be on to something.

Monday;
Lets see if this decline continues to break support at 42880.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has stepped lower again today with a break of the first support at 2666.
That brings us closer to the target for wave ‘c’ at 2600 now.
so the overall pattern for wave ‘b’ is looking good now.
And wave ‘c’ of ‘b’ should hit that target level early next week.
Once that happens,
then later in the week we can look higher again into wave ‘c’ of (b).

Tomorrow;
Watch for wave ‘c’ of ‘b’ to continue in five waves to that target at 2600 early in the week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is very close to hitting the target high for wave (c) of [ii] this evening.
The minimum target lies at 71.45 at the wave (a) high,
and wave [ii] must complete below the previous high at 72.59,
so we have a very tight margin for error on this count here,
A break of that upper level will invalidate this count and I will have to go back to the drawing board again.

Monday;
Watch for wave (c) of [ii] to top out and then turn lower again to begin wave (i) of [iii].

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Another day stuck in the range without any progress either way.
The action looks quite corrective overall,
so I can only suggest that we are looking at a larger wave ‘iv’ pink here,
and wave ‘v’ will likely push higher again to complete the larger wave (v) blue again.
So I must hold my powder until next week again before looking for any reversal off the top again.

Monday;
Wave ‘iv’ should complete near 6000 again and then wave ‘v’ will turn higher to complete the larger pattern.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver continues its impulsive drop off the top in wave ‘i’ today.
the price has not retraced the full rally in wave ‘c’,
but we are getting close.
A break of the wave (i) low again at 29.65 will confirm wave (iii) is underway,
and I am looking at that level to complete wave ‘i’ of (iii) and begin wave ‘ii’ as shown.
Another drop on Monday will be enough to close out this initial decline in wave ‘i’.
So lets see how this goes.

Monday;
Watch for wave ‘i’ down to continue and break 30.00 again to kick off wave (iii) blue.