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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD turned higher today in line with the wave count,
but so far the price has only traced out a three wave rally off the wave ‘ii’ low.
This pattern can develop further tomorrow to complete five waves up in wave ‘1’ of ‘iii’.
If the price breaks above the wave ‘i’ high at 1.0442,
that will favor the idea here.
And we can expect wave ‘iii’ pink to continue the rally over the coming week also.

Tomorrow;
Watch for wave ‘1’ of ‘iii’ to push out above the wave ‘i’ high at 1.0442.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable also bounced off the wave ‘ii’ lows today with a nice impulsive form.
The action looks positive,
and I am suggesting this rally is wave ‘1’ of ‘iii’ now in play.
Wave ‘iii’ must continue higher and break back above the wave ‘i’ high at the very least this week.
and if that happens,
that will be a solid signal that wave ‘iii’ of (iii) is taking over.
This wave count suggests a major rally is only just beginning here.
And if this is correct,
then wave (iii) blue should push towards the 1.30 level again over the coming month.

Tomorrow;
Watch for wave ‘i’ of ‘iii’ to top out with a break of 1.2500 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is drifting higher today but the action is still quite corrective to the upside.
I am suggesting that wave ‘4’ of ‘iii’ is still in play here.
And that pattern requires that the price turn lower again in wave ‘5’ to break 150.00 again and complete wave ‘iii’.

Tomorrow;
Wave ‘4’ must hold below the wave ‘i’ low at 153.70,
and wave ‘5’ of ‘iii’ should break 153.76 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market remains stuck in neutral today.
The market actually has gone nowhere since Jan 24th where the sharp wave ‘c’ rally eased off,
and now we have gone sideways for over 2 weeks.
In this environment it is hard to get much insight on the overall patterns.
There is literally nothing to go on!

I can say that the action so far this week is looking corrective to the upside.
and I can at least hold on to the main pattern until the market picks a side and gets o with it!

Tomorrow;
A move lower into wave ‘i’ of (iii) would be most welcome!
Lets see if the price can break the 43800 level again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold managed to turn lower off the highs today and that opens the door to a top in wave ‘5’ of ‘v’ of (c) now.
The price must accelerate lower to confirm this pattern.
I am looking for a move back below 2800 again in an impulsive manner to signal that wave ‘i’ of (i) is underway.
And from there I want to see a break of support at 2730 to confirm this pattern.

Tomorrow;
Watch for a break down into the larger channel and a challenge of 2800 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil broke through the 62% retracement level of wave (i) today and then spiked lower off that high.
The wave ‘a’ top has also been broken by this wave ‘c’ rally.
And now this pattern in wave (ii) is complete.
It is time now for wave (iii) down to take over.
A sharp drop below 70.00 is now required to confirm that wave (iii) is underway.

Tomorrow;
Watch for wave (ii) to hold at the current highs and wave ‘i’ of (iii) to turn lower towards 70.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is holding below last weeks highs again but apart from that,
there is very little else going on here.
The action this week can be viewed as a corrective rise.
And if this is true,
then we should see a move back below 5900 very soon as wave ‘3’ of ‘iii’ takes over.
I will just have to wait and see.

Tomorrow;
Something must happen to give a clue on the validity of this wave count.
The longer we remain in limbo here,
the less likely that this reversal pattern is.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

There was a sharp spike lower today in line with the idea of a wave ‘iii’ decline.
But that move has been retraced into the close this evening.
The price may be building a larger pattern in wave ‘iii’ here,
so I am giving this idea another day or so to see if the price action develops into an impulsive move down.

Tomorrow;
Watch for wave ‘iii’ to trace out five waves down towards 30.00 again to confirm this pattern in wave (i) blue.