AUDUSD is dropping like a rock at the start of the US session, suggesting that a higher degree wave 4 correction had ended with an ending diagonal in its final wave c. In such case, we expect now to see a drop at least in three-waves, where a break below the 0.7100 level would confirm even more weakness for the pair. Also a drop out of an ending diagonal can indicate price to reach the starting point of the pattern, which is in our case at the 0.7040 region or maybe even lower! However, even if goes more complex here, we remain bearish as long as it's trading beneath 0.7200 invalidation level.
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UPDATE: Because of only three waves of retracement from the highs down to 0.7089 we see Aussie still recovering but in a more complex structure. It can be double zigzag head into 0.7180 area. Not interested in shorts ath this stage. Just wathcing and interested to see how pair will unfold next week.
Firstly, please try to use normal langue, or I will not respond to your comments again.
Secondly: Since you are following me closely I would expect from you that you know I was bullish on GOLD from 1180 and highlighted that move up for 1235. Not sure if you opened your quote lately but gold moved up to 1233. sorry to missed that by 2 points. Also said, this 1235 can be resistance. it can be even retested. Another thing that matters is intermarket analysis. Audusd did not move higher in the same manner like gold did which should be important I think
And BTW, even I can be wrong sometimes. I am human