Sun, Oct 20, 2019 @ 00:46 GMT

EUR/CHF Weekly Outlook

EUR/CHF rose to as high as 1.1888 last week and finally resumed medium term up trend. As a temporary top is in place, initial bias is neutral this week first for some consolidations. But downside of retreat should be contained by 1.1748 minor support to bring another rally. Above 1.1888 will target 1.2 handle, and then 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188.

In the bigger picture, decisive break of 1.1832 should now extend the medium term up trend through prior SNB imposed floor at 1.2000. 2013 high at 1.2649 should be the next target. Outlook will remain bullish as long as 1.1445 support holds, even in case of deep pull back.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1345; (P) 1.1356; (R1) 1.1371; More…

EUR/CHF is staying in consolidation in range of 1.1310/1444. Intraday bias remains neutral and further rally is mildly in favor. On the upside, break of 1.1444 will resume whole rally from 1.1181 for 1.1501 key resistance next. However, break of 1.1310 will argue that the rebound from 1.1181 might be completed. Intraday bias will be turned back to the downside for 1.1181 low again.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1154/98 support zone to complete it and bring rebound. Decisive break of 1.1501 (38.2% retracement of 1.2004 to 1.1173 at 1.1490) will confirm completion of the correction, on bullish convergence condition in daily MACD. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

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EUR/CHF Weekly Outlook

EUR/CHF dropped sharply to as low as 1.1336 last week. Break of 1.1366 confirmed resumption of whole decline from 1.2004. Initial bias stays on the downside this week for 61.8% projection of 1.2004 to 1.1366 from 1.1713 at 1.1319. Decisive break there will target key support zone between 1.1154/98. On the upside, above 1.1415 minor resistance will turn intraday bias neutral and bring consolidation. But recover should be limited below 1.1489 support turned resistance to bring another fall.

In the bigger picture, for now, the price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to complete it and bring rebound. This cluster level is in proximity to long term channel support (now at 1.1173) too. A break of 1.2 key resistance is still expected in the medium term long term. However, sustained break of the mentioned support zone will mark reversal of the long term trend.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1166; (P) 1.1194; (R1) 1.1214; More…

EUR/CHF drops to as low as 1.1173 so far and intraday bias remains on the downside. Decisive break of 1.1173 low (inside 1.1154/98 key support zone) will carry larger bearish implication and could trigger downside acceleration. Next downside target will be 61.8% projection of 1.2004 to 1.1173 from 1.1444 at 1.0930. On the upside, though, break of 1.1256 minor resistance will turn bias back to the upside for recovery to 1.1310 support turned resistance.

In the bigger picture, multiple rejection by 55 week EMA indicates medium term bearishness. Focus remains on 1.1154/98 support zone (2016 high and 61.8% retracement of 1.0629 to 1.2004 at 1.1154). Decisive break there will confirm resumption of whole down trend from 1.2004 and long term bearish reversal. EUR/CHF should then target 1.0629 support and below. This will now remain the favored case as long as 1.1444 resistance holds.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1700; (P) 1.1722; (R1) 1.1752; More…

EUR/CHF’s rise and break of 1.1740 indicates resumption of rebound from 1.1445. Intraday bias is back on the upside for retesting 1.1832 high. At this point, we’ll stay cautious strong resistance from there to bring another fall. Corrective pattern from 1.1832 might still have an attempt on 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372) before completion. On the downside, below 1.1672 minor support will target 1.1445 low again. However, decisive break of 1.1832 will confirm up trend resumption for 1.2 handle next.

In the bigger picture, a medium term top should be in place at 1.1832 on bearish divergence condition in daily MACD. But there is no indication of long term reversal yet. As long as 1.1198 resistance turned support holds, we’d still expect another rise through prior SNB imposed floor at 1.2000.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1785; (P) 1.1805; (R1) 1.1843; More…

EUR/CHF surges to as high as 1.1875 so far today. The strong break of 1.1832 high confirms medium term up trend resumption. Intraday bias is now on the upside for 1.2 handle first. Break will target 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188 next. On the downside, below 1.1804 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.1649 support to bring another rise.

In the bigger picture, decisive break of 1.1832 should now extend the medium term up trend through prior SNB imposed floor at 1.2000. 2013 high at 1.2649should be the next target. Outlook will remain bullish as long as 1.1445 support holds, even in case of deep pull back.

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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) 1.1642; (P) 1.1683; (R1) 1.1716; More…

EUR/CHF break of 1.1672 minor support indicates that rebound from 1.1445 has completed at 1.1748. And, the corrective pattern from 1.1832 is extending with another falling leg. Intraday bias is turned back to the downside for 55 day EMA (now at 1.1634). Sustained break will target 1.1445 support and possibly below. But we’d expect strong support from 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372) to complete the correction and break up trend resumption. On the upside, above 1.1748 will bring retest of 1.1832 high instead.

In the bigger picture, a medium term top should be in place at 1.1832 on bearish divergence condition in daily MACD. But there is no indication of long term reversal yet. As long as 1.1198 resistance turned support holds, we’d still expect another rise through prior SNB imposed floor at 1.2000.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1271; (P) 1.1288; (R1) 1.1321; More…

Intraday bias in EUR/CHF remains on the upside as rise from 1.1162 is in progress for 1.1310 support turned resistance. Firm break there will target 1.1444 key resistance next. On the downside, below 1.1245 minor support will turn bias back to the downside for 1.1154 key fibonacci level instead.

In the bigger picture, multiple rejection by 55 week EMA indicates medium term bearishness. Focus remains on 1.1154/98 support zone (2016 high and 61.8% retracement of 1.0629 to 1.2004 at 1.1154). Decisive break there will confirm resumption of whole down trend from 1.2004 and long term bearish reversal. EUR/CHF should then target 1.0629 support and below. This will now remain the favored case as long as 1.1444 resistance holds.

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EUR/CHF Weekly Outlook

EUR/CHF rebounded to 1.1342 last week but retreated notably since then. Initial bias stays neutral this week first. In case of deeper fall, we’d continue to expect strong support from key support zone of 1.1154/98 to bring reversal. On the upside, above 1.1342 will target 1.1452 resistance first. Break should confirm that whole decline from 1.2004 has completed a target 1.1713 resistance next. However, sustained break of 1.1154/98 will carry larger bearish implications.

In the bigger picture, for now, the price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by support zone of 1.1198 (2016 high) and 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to complete it and bring rebound. This cluster level is in proximity to long term channel support (now at 1.1207) too. A break of 1.2 key resistance is still expected in the medium term long term. However, sustained break of the mentioned support zone will mark reversal of the long term trend. In that case, 1.0629 key support will be back into focus.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1581; (P) 1.1601; (R1) 1.1637; More….

EUR/CHF rises further to as high as 1.1627 so far today. But upside is limited below 1.1656 resistance. Intraday bias stays neutral at this point. On the upside, break of 1.1656 will resume the rebound from 1.1366 to 61.8% retracement of 1.2004 to 1.1366 at 1.1760. But we would expect strong resistance from there to limit upside. On the downside, break of 1.1478 will turn bias to the downside for 1.1366 first. Break will resume the corrective fall from 1.2004.

In the bigger picture, EUR/CHF was solidly rejected by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily and weekly MACD, 1.2004 should be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Such correction is expected to extend for a while and therefore, we’re not anticipating a break of 1.2004 in near term. Another decline cannot be ruled out yet. But in that case, strong support should be seen at 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to contain downside.

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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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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1205; (P) 1.1223; (R1) 1.1237; More…

Intraday bias in EUR/CHF remains neutral and corrective recovery from 1.1162 might extend. But still, as long as 1.1256 minor resistance holds, near term outlook remains bearish and further decline is expected. On the downside, decisive break of 1.1154 key fibonacci level will confirm resumption of whole downtrend from 1.2004. That should then pave the way to 61.8% projection of 1.2004 to 1.1173 from 1.1444 at 1.0930. However, break of 1.1256 will indicate short term bottoming and turn bias back to the upside for 1.1310 support turned resistance first.

In the bigger picture, multiple rejection by 55 week EMA indicates medium term bearishness. Focus remains on 1.1154/98 support zone (2016 high and 61.8% retracement of 1.0629 to 1.2004 at 1.1154). Decisive break there will confirm resumption of whole down trend from 1.2004 and long term bearish reversal. EUR/CHF should then target 1.0629 support and below. This will now remain the favored case as long as 1.1444 resistance holds.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1331; (P) 1.1343; (R1) 1.1364; More….

EUR/CHF’s rise from 1.1162 is still in progress and intraday bias stays on the upside for 1.1384 resistance. Break will target 1.1444 key resistance next. On the downside, however, break of 1.1281 minor support will indicate completion of the rebound and turn bias back to the downside for 1.1162 low.

In the bigger picture, multiple rejection by 55 week EMA indicates medium term bearishness. Focus remains on 1.1154/98 support zone (2016 high and 61.8% retracement of 1.0629 to 1.2004 at 1.1154). Decisive break there will confirm resumption of whole down trend from 1.2004 and long term bearish reversal. EUR/CHF should then target 1.0629 support and below. This will now remain the favored case as long as 1.1444 resistance holds. However, decisive break of 1.1444 will indicate completion of fall from 1.2004 and turn medium term outlook bullish.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1861; (P) 1.1873; (R1) 1.1892; More…

EUR/CHF’s rally resumed after brief consolidation and reaches as high as 1.1894 so far. Intraday bias is back on the upside for 1.2 handle. Break there will extend the medium term up trend to 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. On the downside, below 1.1847 minor support will turn intraday bias neutral and bring consolidation, below staging another rally.

In the bigger picture, decisive break of 1.1832 should now extend the medium term up trend through prior SNB imposed floor at 1.2000. 2013 high at 1.2649 should be the next target. Outlook will remain bullish as long as 1.1445 support holds, even in case of deep pull back.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1948; (P) 1.1976; (R1) 1.2004; More…

Intraday bias in EUR/CHF stays neutral with focus on 1.2 key resistance. Further rally is expected as long as 1.1888 minor support holds. Firm break of 1.2 will pave the way to 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. However, consider bearish divergence condition in 4 hour MACD, break of 1.1888 will indicate short term topping. In that case, deeper pull back would be seen back to 1.1445/1832 support zone.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2003 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.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1952; (P) 1.1969; (R1) 1.1984; More…

EUR/CHF’s consolidation from 1.2004 is still unfolding and intraday bias remains neutral. Deeper retreat cannot be ruled out. But further rise is expected as long as 1.1888 minor support holds. Decisive break 1.2 will pave the way to 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. However, consider bearish divergence condition in 4 hour MACD, break of 1.1888 will indicate short term topping. In that case, deeper pull back would be seen back to 1.1445/1832 support zone.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2003 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.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1535; (P) 1.1567; (R1) 1.1626; More…

EUR/CHF reaches as high as 1.1603 so far as rebound from 1.1445 extends. However, price actions from 1.1445 are viewed as a corrective pattern. Hence, intraday bias remains neutral. Also, near term outlook will remain bearish as long as 1.1639 resistance holds. On the downside, break of will resume the corrective fall from 1.1832 and target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) At this point, we’d expect strong support from there to contain downside and bring rebound. Nevertheless, break of 1.1639 will suggest short term reversal and turn bias back to the upside for 1.1832 high.

In the bigger picture, a medium term top should be in place at 1.1832 on bearish divergence condition in daily MACD. But there is no indication of long term reversal yet. As long as 1.1198 resistance turned support holds, we’d still expect another rise through prior SNB imposed floor at 1.2000.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1740; (P) 1.1757; (R1) 1.1778; More…

EUR/CHF continues to stay in tight range below 1.1803 temporary top and intraday bias remains neutral. Above 1.1802 will extend the rise from 1.1445. But, we’d stay cautious on strong resistance from 1.1832 to bring reversal. Break of of 1.1649 support will indicate completion of rebound form 1.1445. And the corrective pattern from 1.1832 would then extend with another decline to retest 1.1445. However, firm break of 1.1832 will confirm resumption of larger up trend.

In the bigger picture, a medium term top should be in place at 1.1832 on bearish divergence condition in daily MACD. But there is no indication of long term reversal yet. As long as 1.1198 resistance turned support holds, we’d still expect another rise through prior SNB imposed floor at 1.2000.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1341; (P) 1.1361; (R1) 1.1374; More…

Intraday bias in EUR/CHF remains neutral at this point. Further rise is still expected as long as 1.1310 holds. On the upside, break of 1.1444 will whole rally from 1.1181 for 1.1501 key resistance next. However, break of 1.1310 will turn bias to the downside for 1.1181 low again.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1154/98 support zone to complete it and bring rebound. Decisive break of 1.1501 (38.2% retracement of 1.2004 to 1.1173 at 1.1490) will confirm completion of the correction, on bullish convergence condition in daily MACD. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

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