As shown on the daily frame, Silver might be forming its low as the extreme point of Minor wave B.
Based upon this alternate count, the waves of A and probably B have completed, and the waves of C, likely D and E lie ahead, before the end of overall correction in Intermediate wave (4).
There is no change on this daily frame, Gold is correcting in Minuette wave (iv) in sideways, that’s prior to the decline in fifth wave ahead of the same degree, before the entire impulsive sequence in Minute wave c (circle) of Minor wave B terminates.
The short-term bearish outlook still remains through the anticipated target at 1065.1, where the Minute waves of c (circle) and a (circle) of Minor B are equal.
The Crude is falling in an expected fifth wave, before impulsive Minuette wave (iii) terminates. The immediate target is 45.93.
The minimum objective for the extreme of undergoing Minute wave v(circle) remains below the recent lows area.
There is nothing new to add to the Euro in daily frame.
The outlook still remains bullish against 1.08040, through the determinate target at 1.18135, in anticipation of the countertrend rally as Minor wave Y underway.
Note : Based upon this bullish alternate count in short term, the Euro is tracing out a “Double Zigzag” as the entire correction in Intermediate wave (B).
The bearish stance remains intact on this daily frame, while the price still holds around the 97.36.
The anticipated target for the extreme of Minor wave Y is 90.89, where the waves of Y and W are equal.
Note : Based upon this bearish alternative, the Index is tracing out a “Double Zigzag” as entire correction in Intermediate wave (4), which is the prior to advance in Intermediate wave (5).
As shown on the DX’s alternate count in weekly frame, the correction in Intermediate wave (4), that started in March 13 peak of 100.390, could be traced out as a (W-X-Y) double zigzag, which its Minor waves of W and X have completed, and Minor wave Y may have started its way down in three waves.
The expected target for this final decline is 90.89, where the waves of W and Y are equal.
As shown in this quarterly frame, it is anticipated the current Gold’s bear market, that started in 2011 peak of 1923, is likely to develop in extensive A-B-C (three waves of Primary degree).
“After completing five waves up, markets often retrace to retest their previous fourth-wave area.”
The ultimate target for the extreme of entire correction, could be around the 398 level in the coming years.