USDCHF Elliott Wave Analysis - Trading Lounge Day Chart
U.S. Dollar / Swiss Franc (USDCHF) Day Chart
USDCHF 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 a leading diagonal, and nearing completion.
Wave Cancel Invalid Level: 0.83765
The USDCHF Elliott Wave analysis for the daily chart indicates a bullish trend. This trend is driven by an impulsive wave structure, with the primary focus on Orange Wave 1, which belongs to the broader Navy Blue Wave 1. Currently, Orange Wave 1 remains active and is developing into a leading diagonal. This pattern suggests that the market is in the early stages of an upward trend, with the leading diagonal nearing its completion.
Orange Wave 1's impulsive behavior demonstrates strong upward momentum, typically seen in the initial stages of a larger trend. As Orange Wave 1 reaches its final stages, a correction is anticipated, unfolding as Orange Wave 2. This corrective phase is likely to introduce a temporary price pullback, allowing the market to consolidate before resuming the upward trend in subsequent waves.
The invalidation level for this wave structure is at 0.83765. A price drop below this level would invalidate the current Elliott Wave count, requiring a reassessment of the overall trend. However, as long as the price remains above this threshold, the impulsive wave structure will hold, with Orange Wave 1 expected to conclude soon and Orange Wave 2 anticipated to follow.
Summary:
The USDCHF is in the early stages of an impulsive bullish trend. Orange Wave 1 of Navy Blue Wave 1 is still in progress, forming a leading diagonal and nearing its end. The next likely phase is a correction through Orange Wave 2. The key invalidation level to monitor is 0.83765, as a breach would necessitate a re-evaluation of the wave structure.
USDCHF Elliott Wave Analysis - Trading Lounge 4-Hour Chart
U.S. Dollar / Swiss Franc (USDCHF) 4-Hour Chart
USDCHF 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 forming as a leading diagonal, nearing its completion.
Wave Cancel Invalid Level: 0.83765
The USDCHF Elliott Wave analysis for the 4-hour chart confirms a bullish trend, characterized by an impulsive wave structure. The analysis focuses on Orange Wave 1, a component of the broader Navy Blue Wave 1. At this time, the price action shows that Orange Wave 1 is still developing into a leading diagonal pattern. As this pattern approaches completion, it signals that the market is about to enter a corrective phase, represented by Orange Wave 2.
Orange Wave 1’s impulsive nature reflects strong upward momentum, commonly observed at the onset of a larger trend. Once Orange Wave 1 completes, a correction is expected in the form of Orange Wave 2, which will likely introduce a temporary price pullback before the overall bullish trend resumes. The timing and structure of Orange Wave 1’s completion are vital for forecasting the next phase of USDCHF price movements.
A critical element in this analysis is the invalidation level, marked at 0.83765. If the price drops below this level, the current Elliott Wave count would be invalidated, requiring a reassessment of the trend. As long as the price stays above this key level, the impulsive wave structure remains valid, with Orange Wave 1 nearing its end and Orange Wave 2 expected to follow.
Summary:
USDCHF is in the early stages of an impulsive bullish trend. Orange Wave 1 of Navy Blue Wave 1 is nearing completion, and the next expected phase is a correction via Orange Wave 2. The invalidation level at 0.83765 is critical for confirming the wave structure and ensuring the continuation of the upward trend.
Technical Analyst: Malik Awais
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