Elliott waves for Forex correlation analysis

During the past trading day, the price struggled to escape from the correction trap it got caught up in earlier. This correction can be interpreted either as the fourth wave of the initial diagonal triangle, in which case we can anticipate another upsurge to complete this model, or as an extending

The overall sentiment surrounding this pair largely mirrors that of EUR/USD. There is a general bullish tone, and the price is likely gearing up for an impulsive advance, which will be characterized by an elongated third wave. If this proves to be the case, we can expect a significant appreciation

Over the past trading day, there was little change in the USD/JPY pair. The price stayed within a small correctional range, which is likely the second wave of an emerging downward impulse. At the moment, this wave does not seem to be complete, so we may not witness any directional movement soon. I