Last week we paid close attention to AUDUSD after a nice five waves of decline from around 0.7850 so we expect more weakness after the current correction that can be wave 2, maybe near completion. Ideally, a strong sell-off will follow through the 0.7710 bearish level and much lower within wave 3.
Elliott Wave Analysis – AUDUSD 30min
Gold is also turning slightly bearish, and maybe has already completed a corrective rally since early June, but we still want an overlap with 1189 to make sure that the highs are in. In that case we will look for a straight move down to 1150.
Elliott Wave Analysis – GOLD 1h