KORU pullback reaching blue box area, buyers eye potential turn higher

Elliott Wave Forecast Team ElliottWave-Forecast.com

KORU (Direxion Daily MSCI South Korea Bull 3X ETF) delivers 300% daily leveraged exposure to South Korean large‑ and mid‑caps, making it a high‑volatility instrument suited for short‑term tactical trades rather than long‑term investing.

Quick instrument snapshot

Full name: Direxion Daily MSCI South Korea Bull 3X ETF (KORU).
Objective: Targets +300% daily performance of the MSCI Korea 25/50 Index (before fees and expenses).
Primary listing: NYSE Arca.

KORU – Daily Elliott Wave chart (Update: July 8, 2026)

The latest daily chart shows the rally from the April 2025 low ending in wave (I) at $1,284.97. The subsequent wave (II) pullback appears to be unfolding as a zigzag corrective pattern:

Wave a ended at $580.00.
Wave b bounced to $1,111.00.
Wave c is targeting the blue‑box area between $422.65 and $259.92.

From that blue‑box zone, buyers may look for a turn higher — either for the next impulsive extension or, at minimum, a three‑wave corrective bounce.

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

GBP/USD treads water around 1.3360

GBP/USD alternates gains with losses around the 1.3360 zone on Wednesday. That said, Cable’s upside remains capped as markets stay cautious following the flare-up of tensions in the Middle East.

EUR/USD flirts with 1.1400; geopolitical landscape deteriorates

EUR/USD comes under renewed selling pressure, slipping toward the 1.1400 region on Wednesday. The pair’s second daily pullback in a row follows extra strengthening of the US Dollar on renewed safe-haven demand after President Trump said the MOU with Iran to end the conflict was "over".

Gold loses impulse; focus shifts back to $4,000

Gold turns lower on Wednesday and trades deep in negative territory, opening the door to another potential visit to the key $4,000 yardstick per troy ounce. The yellow metal’s decline follows a modest uptick in the US Dollar as tensions in the Middle East have resurfaced.

Pi Network crashes to a record low amid broader market stress

Pi Network (PI) price edges toward $0.1000 extending losses for the fifth straight day. Retail sentiment remains bearish as Open Interest and the funding rate decline. The technical outlook for PI is bearish as selling pressure mounts, despite oversold conditions.

Fed Minutes to shed light on Warsh's first meeting as Chair

The United States (US) Federal Reserve (Fed) will release the Minutes of the June 16-17 Federal Open Market Committee (FOMC) meeting on Wednesday at 18:00 GMT. The Minutes should shed more light on the Fed’s hawkish hold delivered at Kevin Warsh’s first meeting as Fed Chair. Even so, doubts remain about how much the minutes will reveal, given Warsh's refusal to provide forward guidance.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.