Sat, May 26, 2018 @ 19:47 GMT

EUR/CHF Weekly Outlook

EUR/CHF’s fall from 1.2004 accelerated steeply to as low as 1.1531 last week. The development confirmed medium term topping at 1.2004. Initial bias is on the downside this week for 1.1445 key support zone. For now, we’d expect strong support from 1.1445 to contain downside, at least on first attempt, to bring rebound. On the upside, above 1.1641 minor resistance will turn bias to the upside for rebound.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 should be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern. However, sustained break of 1.1445 will target next key cluster level at 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1583; (P) 1.1624; (R1) 1.1660; More….

A temporary low is in place at 1.1580 and intraday bias is turned neutral first. Some consolidation would be seen in EUR/CHF but deeper fall is expected as long as 1.1770 resistance holds. Below 1.1580 will target key support level at 1.1445. We’d expect strong support from there to bring rebound, at least, on first attempt. Meanwhile, firm break of 1.1770 will suggest that the pull back from 1.2004 is already completed and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1584; (P) 1.1644; (R1) 1.1706; More….

Intraday bias in EUR/CHF remains on the downside with 1.1668 minor resistance intact. Current fall from 1.2004 should target key support level at 1.1445. We’d expect strong support from here to bring rebound, at least, on first attempt. On the upside, above 1.1668 minor resistance will turn bias neutral and bring consolidations first, before staying another fall.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.1721; (P) 1.1743; (R1) 1.1781; More….

EUR/CHF’s decline accelerates to as low as 1.1580 so far and breaks 61.8% retracement of 1.1445 to 1.2004 at 1.1659 decisively. There is no sign of bottoming yet. Intraday bias remains on the downside for key support level at 1.1445. We’d expect strong support from here to bring rebound, at least, on first attempt. On the upside, above 1.1668 minor resistance will turn bias neutral and bring consolidations first, before staying another fall.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1721; (P) 1.1743; (R1) 1.1781; More….

EUR/CHF’s decline resumed after brief consolidation and reaches as low as 1.1654 so far. Intraday bias is back on the downside. Sustained break of 61.8% retracement of 1.1445 to 1.2004 at 1.1659 will pave to way to key support level at 1.1445. We’d expect strong support from here to bring rebound, at least, on first attempt. On the upside, above 1.1705 minor resistance will turn bias neutral and bring consolidations first, before staying another fall.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1721; (P) 1.1743; (R1) 1.1781; More…

A temporary low is formed at 1.1705 in EUR/CHF with the current recovery. Intraday bias is turned neutral for consolidations. Upside of recovery should be limited by 1.1864 support turned resistance to bring another decline. Below 1.1705 will target 61.8% retracement of 1.1445 to 1.2004 at 1.1659. Sustained break will target key support level at 1.1445.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1708; (P) 1.1765; (R1) 1.1801; More…

EUR/CHF’s decline continues today and reaches as low as 1.1717 so far. Intraday bias remains on the downside for 61.8% retracement of 1.1445 to 1.2004 at 1.1659. Sustained break will target key support level at 1.1445. On the upside, above 1.1770 minor resistance will turn bias neutral first. But near term outlook will remain bearish as long as 1.1864 support turned resistance holds.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Weekly Outlook

EUR/CHF dropped sharply to as low as 1.1728 last week as the decline from 1.2004 resumed and accelerated. The development further confirmed rejection by 1.2 key resistance. Initial bias stays on the downside this week for 61.8% retracement of 1.1445 to 1.2004 at 1.1659. Sustained break will target key support level at 1.1445. On the upside, above 1.1776 minor resistance will turn bias neutral first. But near term outlook will remain bearish as long as 1.1864 support turned resistance holds.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.1775; (P) 1.1818; (R1) 1.1866; More…

EUR/CHF’s decline resumed after brief consolidation. It breaks 1.1770 temporary low and reaches as low as 1.1752 so far. Intraday bias is back on the downside for 61.8% retracement of 1.1445 to 1.2004 at 1.1659 and below. On the upside, above 1.1816 minor resistance will turn intraday bias neutral again. But outlook will stay bearish as long as 1.1864 support turned resistance holds.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is corrective the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1775; (P) 1.1818; (R1) 1.1866; More…

Intraday bias in EUR/CHF is turned neutral for consolidation above 1.1770 temporary low. With 1864 support turned resistance intact, deeper fall is expected. Break of 1.1770 will target 61.8% retracement of 1.1445 to 1.2004 at 1.1659 and below. Nonetheless, break of 1.1864 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is corrective the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1775; (P) 1.1818; (R1) 1.1866; More…

EUR/CHF recovers after hitting 38.2% retracement of 1.1445 to 1.2004 at 1.1790. But with 1.1864 support turned resistance intact, deeper fall is expected. Sustained trading below 1.1790 will pave the way to 61.8% retracement at 1.1659 and below. Nonetheless, break of 1.1864 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is corrective the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.1819; (P) 1.1883; (R1) 1.1917; More…

EUR/CHF drops sharply to as low as 1.1777 so far today and breaks 38.2% retracement of 1.1445 to 1.2004 at 1.1790. Based on current momentum, deeper decline would likely be seen. Intraday bias stays on the downside for 61.8% retracement at 1.1659 and below. On the upside, break of 1.1864 support turned resistance is needed to indicate short term bottoming. Otherwise, near term outlook will be mildly bearish even in case of recovery.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is corrective the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1819; (P) 1.1883; (R1) 1.1917; More…

EUR/CHF drops sharply to as low as 1.1817 as correction from 1.2004 extends. Intraday bias is back on the downside for deeper fall. For now, we’d still strong support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 to contain downside and bring rebound. And decisive break of 1.2004 will confirm up trend resumption. However, sustained break of 1.1790 will at least bring deeper fall to 61.8% retracement at 1.1659 and below.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2000 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next. However, considering bearish divergence condition in daily MACD. Break of 1.1445 will be an indication of medium term reversal and will turn outlook bearish.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1913; (P) 1.1949; (R1) 1.1968; More…

EUR/CHF is still struggling in range below 1.2004 and intraday bias remains neutral. Consolidation could extend with risk of deeper pull back. But in that case, we’d expect strong support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 to contain downside and bring rebound. On the upside, decisive break of 1.2004 will confirm up trend resumption.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2000 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next. However, considering bearish divergence condition in daily MACD. Break of 1.1445 will be an indication of medium term reversal and will turn outlook bearish.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1925; (P) 1.1941; (R1) 1.1958; More…

EUR/CHF’s rebound from 1.1864 is still in progress and could extend higher. But still, as long as 1.2004 holds, the consolidation will extend with risk of deeper pull back. But in that case, we’d expect strong support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 to contain downside and bring rebound. Nonetheless, decisive break of 1.2004 will confirm up trend resumption.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2000 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next. However, considering bearish divergence condition in daily MACD. Break of 1.1445 will be an indication of medium term reversal and will turn outlook bearish.

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EUR/CHF Weekly Outlook

EUR/CHF’s sharp fall last week finally confirmed short term topping at 1.2004, after failing to sustain above 1.2 handle. Initial bias stays neutral this week for more consolidation. As long as 1.2004 holds, the consolidation will extend with risk of deeper pull back. But in that case, we’d expect strong support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 to contain downside and bring rebound. Nonetheless, decisive break of 1.2004 will confirm up trend resumption.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2000 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next. However, considering bearish divergence condition in daily MACD. Break of 1.1445 will be an indication of medium term reversal and will turn outlook bearish.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1914; (P) 1.1935; (R1) 1.1972; More…

Intraday bias in EUR/CHF remains mildly on the upside for further rebound. But break of 1.2004 is needed to confirm up trend resumption. Otherwise, more consolidation would be seen with risk of another decline. In case of deeper pullback, we’d expect strong support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 to contain downside and bring rebound. Nonetheless, decisive break of 1.2004 will confirm up trend resumption.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2000 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next. However, considering bearish divergence condition in daily MACD. Break of 1.1445 will be an indication of medium term reversal and will turn outlook bearish.

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EUR/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.1880; (P) 1.1901; (R1) 1.1936; More…

EUR/CHF’s break of 1.1932 now suggests that pull back from 1.2004 could have completed at 1.1864 already. Intraday bias back on the upside for 1.2004. Firm break there will confirm up trend resumption. Nonetheless, before that, more consolidative could be seen and below 1.1864 will bring another pull back. Though, we’d expect strong support from there to bring rebound.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2000 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next. However, considering bearish divergence condition in daily MACD. Break of 1.1445 will be an indication of medium term reversal and will turn outlook bearish.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1880; (P) 1.1901; (R1) 1.1936; More…

EUR/CHF recovered after dipping to 1.1864 and intraday bias is turned neutral first. Further fall is expected as long as 1.1932 minor resistance holds. A short term top was formed at 1.2004 after failing to sustain above 1.2 handle. Below 1.1864 will target 38.2% retracement of 1.1445 to 1.2004 at 1.1790. Though, we’d expect strong support from there to bring rebound. On the upside, above 1.1932 will turn focus back to 1.2004 high.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2000 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next. However, considering bearish divergence condition in daily MACD. Break of 1.1445 will be an indication of medium term reversal and will turn outlook bearish.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1846; (P) 1.1903; (R1) 1.1940; More…

EUR/CHF’s break of 1.1888 support indicates short term topping at 1.2004, after rejection by 1.2 handle. Intraday bias is turned back to the downside for pull back to 4 hour 55 EMA (now at 1.1816). For now, such decline is seen as correcting the rise from 1.1445 only. Hence, we’d expect strong support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 to contain downside and bring rebound. On the upside, break of 1.2004 is needed to confirm up trend resumption. Otherwise, we’d expect more corrective trading in near term.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2000 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next. However, considering bearish divergence condition in daily MACD. Break of 1.1445 will be an indicate of medium term reversal and will turn outlook bearish.

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