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: Navy Blue Wave 1
Position: Gray Wave 3
Next Lower Degree Direction: Navy Blue Wave 2
Details: Navy Blue Wave 1 of Gray Wave 3 remains active and appears to be nearing completion.
Wave Cancellation Level: 0.83765
The Elliott Wave analysis for USDCHF on the day chart suggests a bullish trend in an impulsive mode, concentrated on navy blue wave 1. This wave structure aligns with gray wave 3, signaling that navy blue wave 1 of gray wave 3 is approaching its final stages. Upon the completion of navy blue wave 1, a shift to navy blue wave 2 is expected, potentially marking a corrective phase before further bullish movement.
With navy blue wave 1 of gray wave 3 in progress, this analysis indicates sustained upward momentum for USDCHF. The wave cancellation level is marked at 0.83765; if the price remains above this threshold, the bullish structure is likely to hold, sustaining a positive trend outlook. A decline below this level, however, would invalidate the current wave structure and potentially alter the bullish scenario.
Positioned within gray wave 3, the current setup implies impulsive upward movement, with a possible short-term correction after navy blue wave 1 concludes before the primary bullish trend resumes. For traders observing USDCHF, this analysis suggests a probable continuation of the bullish trend, provided the price holds above the invalidation level, with an anticipated retracement in navy blue wave 2 before a renewed advance.
In summary: USDCHF shows a bullish impulsive trend, located in navy blue wave 1 of gray wave 3. The structure indicates potential for continued upward movement as long as the price remains above the 0.83765 invalidation level. The nearing completion of navy blue wave 1 suggests a short-term corrective phase before resuming the broader bullish trend.
U.S. Dollar / Swiss Franc (USDCHF) 4-Hour Chart
USDCHF Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Orange Wave 5
Position: Navy Blue Wave 1
Next Lower Degree Direction: Navy Blue Wave 2
Details: Orange Wave 4 appears to be complete, with orange wave 5 now active.
Wave Cancellation Level: 0.83765
The 4-hour chart Elliott Wave analysis for USDCHF reveals a bullish trend in an impulsive mode, focusing on orange wave 5, following the completion of orange wave 4. Current price action is positioned within navy blue wave 1, anticipating a shift toward navy blue wave 2 at the lower degrees. This impulsive structure suggests further upside potential for USDCHF.
With orange wave 4 marked as complete, orange wave 5 has commenced, pointing to continued bullish potential. The invalidation level, set at 0.83765, acts as a critical threshold; if the price dips below this level, the current wave structure would be invalidated, hinting at a possible correction or shift in the trend. If the price remains above this threshold, however, the bullish outlook remains intact, indicating that wave 5 may proceed with its impulsive rise.
Traders tracking navy blue wave 1 within this structure may anticipate additional gains, in line with the larger bullish trend driven by orange wave 5. A shift to navy blue wave 2 is expected as the next phase, dependent on price levels holding within the current wave structure. This presents a potential bullish setup for USDCHF, advancing within the impulsive wave formation.
In summary: USDCHF is demonstrating a bullish trend within the impulsive orange wave 5. The completion of orange wave 4 and the active progression of orange wave 5 support the bullish outlook. Monitoring the invalidation level at 0.83765 is essential to confirm the trend; staying above this level supports further upside momentum, signaling a continuation within the current wave structure.
Technical Analyst: Malik Awais
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