What is the right course of action?

Your answer is correct because, according to German traffic rules, cyclists generally have the right of way in situations like this.

You must allow the cyclist to pass first before you proceed. This is because cyclists, when going straight ahead or turning right, have priority over vehicles turning left.

After the cyclist has passed, you may proceed before the motorcycle that is turning left. The motorcycle turning left has to yield to you because you are going straight ahead, which usually has higher priority.

In summary, the correct order is:
1. Let the cyclist go first.
2. After the cyclist, you may go before the motorcycle turning left.

Understanding this priority helps avoid conflicts at intersections and ensures safe and predictable traffic flow.