Elliott waves for Forex correlation analysis

It appears that the initial assumption of a forming leading diagonal was correct. This is indicated by the pressure that hit the price. Buyers were not allowed to reach the projected target at the upper boundary, suggesting that this rise was likely corrective — specifically, wave B in the a

After a mixed success in the form of updating the historical high, a sharp decline followed. Such a development often serves as a signal of a potential trend reversal. The recent drop might be just the tip of the iceberg, with more significant movements still ahead. The upward impulse has been comp

The slow and exhausting struggle between buyers and sellers continues to put the market in a standstill. The price action still aligns with the wave scenario, where wave 5 — likely forming a terminal diagonal — is in progress. The first downside target near the lower boundary should be