Elliott waves for Forex correlation analysis

The situation with the analyzed pair continues to remain somewhat unclear. On one hand, an ascending impulse has already formed, but on the other hand, the price keeps pushing higher, constantly encountering fierce resistance from sellers. As a result, the progress becomes challenging, consisting

The price is reluctant to decrease easily. There are active fluctuations within the descending channel. If viewed from the perspective of classical technical analysis, a flag is forming, indicating that the price will sharply rise upon breaking the upper boundary of the designated channel. However

The situation with the analyzed pair is unfolding within the framework of the previously proposed wave scenario. The price is gradually decreasing within the presumed wave (iii). Currently, it is approaching the lows from which the price has rebounded twice. Most likely, the price will react to th