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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has dropped in three waves into todays lows at 1.0305.
The pattern is complete for wave ‘ii’ pink.
and now I am looking for a turn higher into wave ‘iii’ of (iii).
If this pattern is correct,
then we will see a large move higher next week with an initial target area above 1.07.
It will be easy to invalidate this pattern if I am wrong here.
So we should know early in the week.

Monday;
Watch for the wave (ii) low to hold at 1.0210.
Wave ‘iii’ of (iii) must now begin an acceleration higher towards 1.0700 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am not convinced that wave ‘ii’ is complete in cable today.
the price action seems to fit a lager pattern for wave ‘ii’,
The price turned lower this afternoon,
and this move is labelled wave ‘c’ of ‘ii’ now.
wave ‘ii’ will complete with a break of the wave ‘a’ low at 1.2359.
and from there wave ‘iii’ of (iii) will turn higher again.

Monday;
watch for wave (ii) to hold at 1.2248.
Wave ‘iii’ up would continue higher for most of next week,
with a break of 1.2800 as the target level.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘iii’ seems to be coming to a close tonight without making the minimum target at 150.76.
I do want to see a break of that level for wave ‘iii’ and ‘i’ to reach equality.
And from there wave ‘iv’ can take over.
We will see how this works out early next week.
But If I am correct,
I think wave ‘iv’ will take up much of next weeks action.

Monday;
Watch for wave ‘iii’ down to complete with a break of 150.76 and from there we will look for a sideways move in wave ‘iv’.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A move lower off the double top again today is hinting at another rejection below the high.
This action does not prove my interpretation,
but it certainly does suggest an underlying weakness in the market which may turn into something more impulsive to the downside.
That will have to wait until next week to find out now.

Monday;
I would like to see drop below the recent lows at 43800 for a start.
From that I will focus again on wave ‘i’ down.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is still playing about at the upper trend channel line this evening.
There was an attempt to push higher,
but that has been rejected as we hit the close.
My take has not changed all week.
The rally in wave (c) of [b] is over stretched now,
and I think we will pay for this extension to the downside when wave [c] takes over.

Monday;
Watch for wave ‘i’ of (i) of [c] to drop into the 2720 level at the previous wave ‘iv’ low.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

A small rebound for crude today which is viewed as the start of wave ‘c’ of (ii).
Wave ‘c’ must push up above 73.00 to close out wave (ii) next week.
and this should take up the first couple of sessions.
So I want to see wave (ii) complete by midweek,
and then wave (iii) down can begin from there.

Monday;
Watch for wave ‘c’ of (ii) to turn higher and hit 73.00 by midweek.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Possibly maybe??

The market dropped off a lower high again today with a nice spike lower.
This move is not enough to confirm anything,
but it is the type of move that wave ‘3’ down should bring.
This wave count calls for a larger acceleration lower next week in wave ‘3’ of ‘iii’.
So there is much work to do here.

Monday;
Watch for wave ‘3’ of ‘iii’ to be confirmed with a break below 5900 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

this rally in silver is very mature now and the action today suggests the same.
The price dropped back to the trend channel line after a small new high in wave ‘v’ of (c).
And now I am looking for the decline in wave (i) to begin again next week.
A break below 30.90 again will be the move that confirms wave (i) down.

Monday;
Watch for wave (i) down to trace out five wave lower to break 30.90 at a minimum.