Elliott waves for Forex correlation analysis

The updated wave labeling variant has received partial confirmation. The price, moving with momentum, slightly increased and updated the local maximum, then sharply reversed and moved downward. Possibly, the development of wave [4] has started in the considered ending diagonal triangle. If this is

The current unfolding situation is currently supporting the considered scenario. After a minor update of the previously established high for the current month, the price reversed and began to decline rapidly. It is probable that the fourth wave is currently forming in the ending diagonal triangle,

The price sharply declined, triggering a sell signal. However, there was no follow-through on the downside, and this is causing concern. It is already evident that the dollar is attempting to improve its position and turn the unfavorable situation in its favor. At the moment, the scenario of a dec