AUDNZD - Got "X-ed" again

The "bully" AUD/NZD made some progress but it surely wasn't what I hoped for. I still believe the larger pattern suggests this pair will go up, the question is "when". 

As it turns out that latest move up is most likely another X-wave. So I assume we are now going down in a Z-wave but this pair shouldn't trade under 1.0237 (invalidation).

Also note that EUR/NZD seems to be in the late stages of an ending diagonal. I would make sense that both pairs will turn roughly at the same time.

AUD/NZD daily chart:

AUD/NZD: 60min chart:

EUR/NZD daily chart:

AUD/NZD Update

The big move still has to come but at least it moves in the right direction. An alternative scenario would be that this up movement is a B-wave of a flat and then we should see a last leg down later on to complete wave 2.

60 min chart:

Daily chart:

Dollar Index Update

The Dollar index (DXY) seems to have completed wave 4 in an "expanded flat". So I assume it's now in the process of developing a minor wave 1 (of larger wave 5). 

An alternative scenario would be that it is now in the process of making an X-wave and wave 4 turns out to become a "double three". Either way, this picture suggests a decent rally is coming and ultimately we will see new highs.

USD/CAD Ready For a Last Leg Up

The way I see it we're in the last part of a triple three on this pair. It looks that wave B was complete last Friday (see 5min chart, impulsive move up). So this should be the last leg up before it collapses.

This scenario corresponds nicely with the Dollar index which has to make one move up as well. It seems a great trade to me if it plays out this way.

Dollar Index and Gold Update

DXY and Gold now appear to be in wave 4 and I reckon that 1200 is an area to watch for Gold to turn and make its last leg down. As I mentioned earlier, personally I'm not going to trade this because I'm trying to catch that supposed Dollar top. Exciting times are coming.

AUD/NZD and EUR/GBP Update

AUD/NZD made a move up, appeared initially to break the trendline, but came down again. So I had to change my count and I figure that we will get a last leg down. Still believe I'm right on the larger picture as long as 1.0237 holds and this move down is clearly corrective.

EUR/GBP went up 300 pips which is a lot during these dull trading days, but it just marginally broke that 0.8571 high, and didn't reach the 1.618 extension of wave 1. So there is a good chance this was corrective, but it can also be a leading diagonal in progress or a wave 1 and 2 followed by wave 1 and 2 of larger wave 3 (alt in red). Many options, I wouldn't trade this if I wasn't already in and up on this one.

Gold in similar structure as the Dollar Index

The yellow bricks made an impulsive move up from 1046 (December 2015), topped at 1375 (July 2016) and is now in a C-wave to complete larger wave 2.

What's interesting is that Gold is imo in the same phase as the Dollar Index. Although it's not that surprising because Gold tells you particulary a lot about the state of the Dollar and fiat.

Gold is at the late stages of wave 3 of larger wave C.

DXY is also at the late stages of wave 3 of larger wave 5 (of wave C). See my DXY chart in the previous post.

So both DXY and Gold need a wave 4 and a wave 5 after which the Dollar should take a proper hit.