USDCHF Elliott Wave Analysis Trading Lounge Day Chart,
U.S. Dollar/Swiss Franc (USDCHF) Day Chart.
USD/CHF Elliott Wave technical analysis
-
Function: Trend.
-
Mode: Impulsive.
-
Structure: Orange wave 1.
-
Position: Navy Blue Wave 1.
-
Direction next lower degrees: Orange wave 2.
-
Details: Orange wave 1 of navy blue wave 1 is still active, forming as a leading diagonal, and is nearing its completion.
-
Wave cancel invalid level: 0.83765.
The USDCHF Elliott Wave analysis for the daily chart points to a bullish trend, characterized by an impulsive wave structure. The focus is on orange wave 1, which is a part of the larger navy blue wave 1. At present, orange wave 1 of navy blue wave 1 remains active and is developing into a leading diagonal pattern. This pattern suggests that the market is in the early stages of an upward trend, with the leading diagonal approaching its completion.
The impulsive behavior of orange wave 1 reflects strong upward momentum in the market, which is typically seen at the beginning of a broader trend. As orange wave 1 nears its completion, the next anticipated movement is expected to be a corrective phase, unfolding as orange wave 2. This correction would likely bring a temporary pullback in price, offering the market an opportunity to consolidate before continuing its upward trajectory with subsequent waves.
The invalidation level for this wave structure is marked at 0.83765. If the price drops below this level, the current Elliott Wave count will be invalidated, necessitating a re-evaluation of the overall trend. However, as long as the price remains above this threshold, the impulsive wave structure will stay valid, with orange wave 1 expected to conclude soon and orange wave 2 to follow.
Summary: The USDCHF pair is in the early phase of an impulsive upward trend, with orange wave 1 of navy blue wave 1 still in progress. The wave is forming as a leading diagonal and is approaching its end. The next movement is likely a correction through orange wave 2. The invalidation level to monitor is 0.83765, as a breach of this level would call for a re-assessment of the wave structure.
USDCHF Elliott Wave Analysis Trading Lounge 4 Hour Chart, U.S. Dollar / Swiss Franc (USDCHF) 4 Hour Chart
USD/CHF Elliott Wave technical analysis
-
Function: Trend.
-
Mode: Impulsive.
-
Structure: Orange wave 1.
-
Position: Navy blue wave 1.
-
Direction next lower degrees: Orange wave 2.
-
Details: Orange wave 1 of navy blue wave 1 is still developing as a leading diagonal and is nearing its completion.
-
Wave cancel invalid level: 0.83765.
The USDCHF Elliott Wave analysis for the 4-hour chart reflects a bullish trend with an impulsive wave structure. The focus is on orange wave 1, which is part of the broader navy blue wave 1. Currently, price action shows that orange wave 1 of navy blue wave 1 is still unfolding, forming a leading diagonal pattern. This leading diagonal is approaching its end, suggesting that the market is about to enter the corrective phase marked by orange wave 2.
The impulsive nature of orange wave 1 signals strong upward momentum, typically observed during the first wave of a larger trend. As orange wave 1 reaches its completion, a correction is expected in the form of orange wave 2. This corrective move will likely bring a temporary pullback before the larger bullish trend resumes with subsequent waves. The structure and timing of the wave’s completion are crucial for predicting the next phase in USDCHF price movements.
A critical part of this analysis is the invalidation level, set at 0.83765. If the price falls below this level, the current Elliott Wave count would be invalidated, necessitating a re-evaluation of the trend. However, as long as the price stays above this key level, the impulsive wave structure remains intact, with orange wave 1 nearing completion and orange wave 2 expected to follow.
Summary: USDCHF is in the early stages of an impulsive bullish trend, with orange wave 1 of navy blue wave 1 nearing completion. The next expected phase is a corrective move in the form of orange wave 2. Monitoring the invalidation level at 0.83765 is critical to confirming the current wave structure and ensuring the continuation of the upward trend.
Technical analyst: Malik Awais.
USD/CHF Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
AUD/USD: Bears still dominate the sentiment
AUD/USD quickly reversed Monday’s auspicious start to the week on Tuesday, shifting its attention to the downside and printing new multi-week lows near 0.6430 ahead of the release of inflation data in Oz.
EUR/USD: Sellers will not leave it alone
EUR/USD resumed its widespread leg lower on Tuesday, rapidly setting aside Monday’s bullish price action and returning to the area below the 1.0500 support prior to key US data releases on Wednesday.
Gold under pressure below $2,630
Gold fluctuates above $2,600 on Tuesday after sliding almost three percent – a whopping $90 plus – on Monday due to rumors Israel and Hezbollah were on the verge of agreeing on a ceasefire. Whilst good news for Lebanon, this was not good news for Gold as it improved the outlook for geopolitical risk.
Bitcoin needs a further correction for sustained growth
After weeks of rapid growth, Bitcoin (BTC-USD) entered the maximum turbulence zone falling below $94,000. BTC is currently trading at $93,764 and continues to trend downward, having exited the ascending channel.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.