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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Three waves down still holds in EURUSD so I can stick with the wave ‘ii’ idea here.
The price did make an attempt to rise into wave ‘iii’ today,
but we need a break above 1.0440 again to confirm this idea.
And even from that level,
wave ‘iii’ of (iii) is expected to achieve alot this week.
So this pair has to prove itself now.

Tomorrow;
Watch for the wave ‘ii’ low to hold.
wave ‘1’ of ‘iii’ must break above 1.0440 to get this pattern back into line again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

No sign of a rally into wave ‘iii’ of (iii) yet in cable either.
The corrective set in wave ‘ii’ is still intact.
And the rally into wave ‘iii’ is the next step in this pattern.
So I want to see a rally in wave ‘1’ of ‘iii’ take over here soon.
A break above the wave ‘i’ high at 1.2549 again will signal that wave ‘iii’ has begun.

Tomorrow;
Watch for wave ‘ii’ to complete soon.
And then wave ‘1’ of ‘iii’ must take the price higher into an acceleration in wave ‘iii’ of (iii) this week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ”4′ of ‘iii’ is still in play here today after a three wave pattern sideways has completed at todays high.
the price turned lower off a high at 152.58 today.
And this may be the beginning of wave ‘5’ of ‘iii’ as expected.
I am looking for wave ‘ii’ pink to complete below 150.76.
this is the level where wave ‘i’ and ‘iii’ reach equality.

Tomorrow;
Wave ‘iii’ down should complete a five wave decline as shown with a break of 150.76.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market is quite unsure of itself over the last few days.
there is no net change per se,
but we continue to see rejection below the highs,
and a possible sequence of 1,2, patterns facing lower.
this leaves the door open to a third wave decline at the moment,
I will follow that lead until the door closes.

Tomorrow;
Watch for a drop back below 43800 again to signal wave ‘3’ of ‘i’ is in play.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The market is chasing the price here at the top of a pattern,
and with that,
an already extended pattern in wave (c),
is over-reaching in an extreme sentiment environment.

The pattern for wave (c) is currently extending in wave ‘v’ of (c).
With a clear five wave pattern close to topped out now.
There may be one more pop in wave ‘5’ black which will complete a five wave pattern itself.
And from there I will look lower into wave ‘i’ of (i) later this week.

Tomorrow;
Watch for wave ‘5’ black to close out this rally in the larger wave (c).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Rebound day strikes in crude oil also!

Wave ‘c’ of (ii) is in play here now with a rise back towards the wave ‘a’ top at 73.08.
Once that top is reached in wave (ii),
then I will turn my attention lower to begin wave (iii) later this week.

Tomorrow;
wave ‘c’ will likely hit the wave ‘a’ top at 73.08 to complete this pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A small lower high today off that top of another lower high last week,
and even though the action fits the pattern,
there is no follow through to confirm a third wave down yet.

that is what I want this week.
A drop below 5900 to give wave ‘iii’ down a real chance at building.

Tomorrow;
WAtch for wave ‘2’ to hold and wave ‘3’ down to turn the corner again towards 5900.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has dropped off last weeks high and created a lower high again today.
This action suggests wave ‘i’ and ‘ii’ are in play to begin wave (i) down.
I am looking for a drop below the wave (a) high at 30.97 again in wave ‘iii’ of (i).
This should happen by Midweek I suspect,
and if that does happen,
then we have a real chance at a much larger decline forming in wave [iii] down over the coming weeks.

Tomorrow;
Watch for wave (i) down to build over the coming days.
wave ‘iii’ of (i) should break initial support at 30.97.