AUD/USD and Gold going down in a correction fashion

A few weeks ago AUD/USD appeared to be breaking out of  an ending diagonal which made me think that wave C of wave 4 (daily chart) was complete. Aussi  is now roughly 100 down from that level but crucially in a clear corrective structure. In my view there is no way that this price action can be seen as impulsive movement.

However, AUD/USD has still room to go down a lot more and probably will initially go south from here but it is not the impulsive wave 1 (of larger wave 5) that I had in mind when the ending diagonal appeared to be complete.

Gold's movement  is also corrective (and looks also set up to go south in a wave C).

AUD/USD - Minor wave 2 is complete

Wave 4 ended at 78.35 and was, as expected, an expanded flat, Now minor wave 2 should be complete so a sharp move south is imminent. The dollar index (DXY) suggests more dollar strength to come and completed a fourth wave as well at 91.92. The minimum target for AUD/USD is a break of the low at 68.27.

AUD/USD - Expect a big drop soon

I expect one small move up to complete minor wave 2 and then a big down move will follow. DXY confirms this scenario so I expect the dollar to gain across the board soon.