USDCHF – Daily Timeframe
As anticipated, following a regular bearish divergence, a price correction scenario has been in play.
From an Elliott Wave perspective, the larger Wave A appears to have completed, and the market is currently progressing within Wave B.
We expect a corrective move toward the 0.76966 level. After this correction phase is completed, the next bullish targets are projected at:
• 0.83503
• 0.85700
• 0.88477
nvalidation Level:
If price breaks below 0.76018, this analysis will be considered invalid.
Overall, the current structure suggests a short-term pullback within a broader bullish
Overall, the current structure suggests a temporary pullback within a broader upward movement.
From a fundamental standpoint, the USDCHF pair is influenced by the monetary policy divergence between the Federal Reserve and the Swiss National Bank.
The US dollar remains relatively supported by higher interest rates and a resilient economic outlook, while the Swiss franc, typically considered a safe-haven currency, may weaken during periods of improved global risk sentiment.
In the short term, a corrective phase could be driven by temporary shifts in market sentiment, profit-taking, or mild USD weakness. However, the broader outlook still favors USD strength if the Federal Reserve maintains a relatively hawkish stance compared to the Swiss National Bank.
This aligns with the technical expectation of a short-term correction (Wave B) followed by a continuation of the upward trend toward higher targets.
As anticipated, following a regular bearish divergence, a price correction scenario has been in play.
From an Elliott Wave perspective, the larger Wave A appears to have completed, and the market is currently progressing within Wave B.
We expect a corrective move toward the 0.76966 level. After this correction phase is completed, the next bullish targets are projected at:
• 0.83503
• 0.85700
• 0.88477
nvalidation Level:
If price breaks below 0.76018, this analysis will be considered invalid.
Overall, the current structure suggests a short-term pullback within a broader bullish
Overall, the current structure suggests a temporary pullback within a broader upward movement.
From a fundamental standpoint, the USDCHF pair is influenced by the monetary policy divergence between the Federal Reserve and the Swiss National Bank.
The US dollar remains relatively supported by higher interest rates and a resilient economic outlook, while the Swiss franc, typically considered a safe-haven currency, may weaken during periods of improved global risk sentiment.
In the short term, a corrective phase could be driven by temporary shifts in market sentiment, profit-taking, or mild USD weakness. However, the broader outlook still favors USD strength if the Federal Reserve maintains a relatively hawkish stance compared to the Swiss National Bank.
This aligns with the technical expectation of a short-term correction (Wave B) followed by a continuation of the upward trend toward higher targets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.