Good day traders!

AUD/USD can be trading in a three-wave pullback of a higher degree, labeled as wave B. We see first sub-wave a completed and current choppy, overlapping activity can be a potential triangle within leg b. A minor drop from current levels would suggest a completed sub-wave b and sub-wave c of B in progress towards the 0.7622/0.7577 region.

AUD/USD, 1h

Gold is still trading in final stages of an ending diagonal pattern, that we recognized within sub-wave v) of a/i. A top and a potential turning point can be seen at 1265 level, of a former swing high, which can push price strongly into the opposite direction. A later three-wave drop can search for support at the 1250, level of a former swing low and bounce higher. Also, Fibonacci ratios from 38.2/61.8 can also offer support and push price higher.

GOLD, 1h

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