USD/CHF Elliott Wave technical analysis [Video]

USDCHF Elliott Wave Analysis - Trading Lounge Day Chart.

U.S. Dollar/Swiss Franc (USDCHF) Day Chart.

USD/CHF Elliott Wave technical analysis

• Function: Bullish Trend.

• Mode: Impulsive.

• Structure: Navy Blue Wave 3.

• Position: Gray Wave 3.

• Direction (next higher degrees): Navy Blue Wave 3 (initiated).

• Details: Navy Blue Wave 2 appears complete, with Navy Blue Wave 3 currently in progress.

• Wave invalid level: 0.87344.

The USDCHF daily chart showcases an Elliott Wave analysis highlighting a bullish trend. The current wave structure is defined as Navy Blue Wave 3, part of an impulsive sequence, with Gray Wave 3 actively developing. This indicates sustained upward momentum within a larger bullish framework.

Key insights:

• Completion of Navy Blue Wave 2: The analysis identifies the conclusion of Navy Blue Wave 2, signaling the onset of Navy Blue Wave 3.

• Impulsive Waves in Play: According to Elliott Wave Theory, impulsive waves denote strong directional trends. Navy Blue Wave 3 represents a robust bullish phase, with further potential for upward gains.

• Invalidation Level at 0.87344: A fall below this level would negate the current wave structure, necessitating a reassessment of the bullish scenario.

This analysis provides valuable insights into the USDCHF market's bullish outlook. The transition from Navy Blue Wave 2 to Navy Blue Wave 3 highlights strong upward momentum. This trend suggests favorable conditions for traders and analysts to align their strategies with the prevailing bullish sentiment.

 

U.S. Dollar/Swiss Franc (USDCHF) 4-Hour Chart

USD/CHF Elliott Wave technical analysis

• Function: Bullish Trend.

• Mode: Impulsive.

• Structure: Orange Wave 1.

• Position: Navy Blue Wave 3.

• Direction (next higher degrees): Orange Wave 1 (initiated).

• Details: Orange Wave C of 2 appears complete; Orange Wave 1 of Navy Blue Wave 3 is underway.

• Wave invalid level: 0.87344.

The USDCHF 4-hour chart provides an Elliott Wave analysis pointing to a bullish trend. The wave structure is defined as Orange Wave 1, part of an impulsive sequence, within Navy Blue Wave 3. This indicates ongoing upward momentum within the broader bullish framework.

Key Insights:

• Completion of Orange Wave  The analysis suggests that Orange Wave C of Wave 2 has likely concluded. The market now transitions into Orange Wave 1 of Navy Blue Wave 3.

• Impulsive Wave Signals Upward Momentum: In Elliott Wave Theory, impulsive waves indicate strong directional trends. The initiation of Orange Wave 1 marks the beginning of a new upward phase within the bullish structure.

• Invalidation Level at 0.87344: A breach below this level would invalidate the current wave structure, prompting a reevaluation of the bullish outlook.

This analysis provides a detailed framework for understanding the ongoing USDCHF bullish trend. The shift from a corrective phase (Orange Wave C) to an impulsive phase (Orange Wave 1) highlights the strengthening upward momentum. Traders can leverage this information to align their strategies with the market's prevailing bullish sentiment.

 

Technical analyst: Malik Awais. 

USD/CHF Elliott Wave technical analysis [Video]