The USD/CHF Elliott Wave technical analysis focuses on identifying and understanding the current market trend using the Elliott Wave theory. On the day chart, the market is in an impulsive trend, with Navy blue wave 1 in progress within the larger Gray wave 3 structure. The completion of Gray wave 2 signals a new phase of market advancement, with the wave cancel invalid level set at 0.88270 for validation.
Switching to the four-hour chart, the market is currently in a corrective phase with orange wave 2 following the completion of orange wave 1. The market is expected to resume its upward movement in orange wave 3 after the correction is complete. The wave cancel invalid level remains at 0.88270 for accuracy in the wave count and market outlook.
Overall, the analysis highlights the current market trends in both the day and four-hour charts, providing insights into the expected direction of the USD/CHF pair based on Elliott Wave theory.