Thu, Dec 12, 2019 @ 18:53 GMT

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1384; (P) 1.1412; (R1) 1.1437; More…

Intraday bias in EUR/CHF remains neutral and consolidation from 1.1476 might extend. On the upside, sustained break of 38.2% retracement of 1.2004 to 1.1162 at 1.1484 will confirm completion of corrective fall from 1.2004. Further rally should then be seen to 61.8% retracement at 1.1682 and above. On the downside, sustained break of 55 day EMA (now at 1.1341) will pave the way back to retest 1.1162 low.

In the bigger picture, at this point, we’re slight favoring the case that corrective fall from 1.2004 has completed after being supported by 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Decisive break of 1.1501 resistance should confirm and target 1.1713 resistance next. And, firm break of 1.1154 is needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0928; (P) 1.0940; (R1) 1.0961; More…

A temporary top is in place at 1.0957 in EUR/CHF with 4 hour MACD crossed below signal line. Intraday bias is turned neutral first. Downside of retreat should be contained by 1.0884 minor support to bring another rally. Rise from 1.0629 should be resuming. Above 1.0957 will send EUR/CHF through 1.0986/0999 resistance zone to 61.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1036.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.0999 resistance will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0830 support holds.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1543; (P) 1.1581; (R1) 1.1604; More…

No change in EUR/CHF’s outlook. As long as 1.1639 minor resistance holds, deeper decline is expected. Fall from 1.1832 is correcting medium term rise from 1.0629. Next target will be 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) On the upside, though, above 1.1639 will indicate short term bottoming and bring stronger recovery first.

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.

- advertisement -

EUR/CHF Weekly Outlook

EUR/CHF dipped to as low as 1.0635 last week but recovered ahead of 1.0620 support. Initial bias stays neutral this week for consolidations. Near term outlook will remain bearish as long as 1.0749 resistance holds and deeper decline is expected. Decisive break of 1.0620 key support level will confirm resumption of whole fall from 1.1198. In that case, next downside target will be 1.0485 fibonacci level. Break of 1.0749 will raise the chance of medium term reversal and turn focus back to 1.0897 key resistance.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. On the upside, break of 1.0897 resistance is needed to confirm completion of such fall. Otherwise, outlook will stay bearish.

EUR/CHF 4 Hours Chart

EUR/CHF Daily Chart

EUR/CHF Weekly Chart

EUR/CHF Monthly Chart

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1561; (P) 1.1623; (R1) 1.1658; More…

Intraday bias in EUR/CHF remains on the downside at this point. Fall from 1.1832 is seen as correcting rise from 1.0629. Deeper fall should be seen to 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372. On the upside, above 1.1684 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1832 resistance holds.

In the bigger picture, a medium term should be in place at 1.1832. 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.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0835; (P) 1.0855; (R1) 1.0866; More…

The corrective fall from 1.0986 short term top is still in progress. Outlook in EUR/CHF is unchanged. Downside is expected to be contained by 1.0791/0872 support zone, probably around 55 day EMA (now at 1.0830 and bring rebound. Above 1.0902 minor resistance will turn bias back to the upside for 1.0986/0999.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.0999 resistance will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0791 support holds.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1521; (P) 1.1543; (R1) 1.1561; More….

Intraday bias in EUR/CHF remains neutral at this point. Another fall is mildly in favor with 1.1585 minor resistance intact. Below 1.1478 will target 1.1366 first. Break will resume the larger corrective decline from 1.2004. On the upside, above 1.1585 will likely extend the rebound from 1.1366 through 1.1656. But in that case, upside should be limited by 61.8% retracement of 1.2004 to 1.1366 at 1.1760.

In the bigger picture, current development suggests solid rejection 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.

- advertisement -

EUR/CHF Weekly Outlook

EUR/CHF edged higher to 1.1087 last week but quickly lost momentum. Initial bias is neutral this week first for consolidation. Downside of retreat should be contained by 1.0986 cluster support (38.2% retracement of 1.0830 to 1.1087 at 1.0989) and bring rise resumption. Break of 1.1087 will target key resistance at 1.1127/98. However, break of 1.0986/89 will indicate short term topping, possibly on bearish divergence condition in dail MACD. In such case, deeper fall would be seen back to 55 day EMA (now at 1.0918) and below.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. We’ll favor this bullish case as long as 1.0830 support holds. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

EUR/CHF 4 Hours Chart

EUR/CHF Daily Chart

EUR/CHF Weekly Chart

EUR/CHF Monthly Chart

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0994; (P) 1.1011; (R1) 1.1022; More…

Intraday bias in EUR/CHF remains neutral for consolidation first and outlook is unchanged. We’d continue to expect strong resistance from 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to limit upside to complete the consolidation pattern from 1.0811. On the downside, break of 1.0974 minor support will turn bias to the downside for retesting 1.0811 low. However, sustained break of 1.1062/5 will carry larger bullish implication and bring stronger rise.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Further fall should be seen to 1.0629 support and possibly below. On the upside, break of 1.1162 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1674; (P) 1.1692; (R1) 1.1703; More…

EUR/CHF is saying in consolidation from 1.1740 temporary top and intraday bias remains neutral. As long as 1.1630 minor support holds, further rally is expected. On the upside, above 1.1740 will target a test on 1.1832 high. 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 1.1630 minor support will target 1.1445 low again.

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.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0653; (P) 1.0698; (R1) 1.0728; More…

The break of 1.0677 support in EUR/CHF suggests down trend resumption. Intraday bias is now on the downside for 1.0620 key support level next. Break will confirm resumption of whole fall from 1.1198. On the upside, break of 1.0749 resistance is now needed to indicate near term reversal. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress and retest of 38.2% retracement of 0.9771 to 1.1198 at 1.0653 could be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. Meanwhile, break of 1.0897 resistance will argue that the larger up trend is finally resuming for above 1.1198.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0857; (P) 1.0880; (R1) 1.0895; More…

No change in EUR/CHF’s outlook as consolidation from 1.0832 in in progress. Intraday bias remains neutral first. On the upside above 1.0928 will extend the recovery but upside should be limited by 38.2% retracement of 1.1476 to 1.0832 at 1.1078. On the downside, break of 1.0832 will resume larger down trend from 1.2004.

In the bigger picture, current development firstly suggests that down trend from 1.2004 is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Outlook will remain bearish as long as 1.1476 resistance holds. EUR/CHF should target 1.0629 support and below.

- advertisement -

EUR/CHF Weekly Outlook

EUR/CHF edged lower to 1.0863 last week but turned sideway since then. Initial bias remains neutral this week for consolidations first. In case of another recovery, upside should be limited below 1.1062 resistance to bring fall resumption. On the downside, break of 1.0863 will target 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645.

In the bigger picture, current development firstly suggests that down trend from 1.2004 is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Outlook will remain bearish as long as 1.1476 resistance holds. EUR/CHF should target 1.0629 support and below.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0937; (P) 1.0947; (R1) 1.0961; More…

EUR/CHF edges higher with weak momentum. Intraday bias is cautiously on the upside for 1.0986/0999 resistance zone. Break there will extend whole rally from 1.0629 to 61.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1036. Meanwhile, below 1.0931 minor support will bring more consolidation before staging another rally.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.0999 resistance will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0830 support holds.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0632; (P) 1.0666; (R1) 1.0685; More…

EUR/CHF drops notably but stays above 1.0635 temporary low. Intraday bias remains neutral first. Overall, near term outlook will remain bearish as long as 1.0749 resistance holds and deeper decline is expected. Decisive break of 1.0620 key support level will confirm resumption of whole fall from 1.1198. In that case, next downside target will be 1.0485 fibonacci level. Break of 1.0749 will raise the chance of medium term reversal and turn focus back to 1.0897 key resistance.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. On the upside, break of 1.0897 resistance is needed to confirm completion of such fall. Otherwise, outlook will stay bearish.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0924; (P) 1.0938; (R1) 1.0951; More…

EUR/CHF is staying in consolidation below 1.0986 short term top and intraday bias remains neutral. More consolidative trading would be seen with risk of another dip. But downside should be contained by 1.0791/0872 support zone to bring rise resumption. Outlook is unchanged that corrective pattern from 1.1198 has completed already after defending 1.0653 fibonacci level. Firm break of 1.0999 resistance will pave the way for a retest on 1.1198 high.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Current strong rebound is raising the chance that it’s completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.0999 resistance will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0791 support holds.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1509; (P) 1.1534; (R1) 1.1574; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1445 is extending. 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.

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.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1603; (P) 1.1621; (R1) 1.1644; More….

Intraday bias in EUR?CHF remains neutral at this point as upside was limited below 1.1656 resistance. On the upside, break of 1.1656 will resume the corrective rise from 1.1366 short term bottom. EUR/CHF should target 61.8% retracement of 1.2004 to 1.1366 at 1.1760. But we would expect strong resistance from there to limit upside. We’d still expect at least one more falling leg before the correction from 1.2004 completes. On the downside, break of 1.1478 will turn bias to the downside for 1.1366 first.

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.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1377; (P) 1.1427; (R1) 1.1462; More…

EUR/CHF’s rebound lost momentum after hitting 1.1477 and intraday bias is turned neutral first. Consolidation from 1.1537 is still in progress and there could be another fall. But downside should be contained by 38.2% retracement of 1.0830 to 1.1537 at 1.1267 to bring rebound. Break of 1.1537 resistance will resume up trend from 1.0629. However, firm break of 1.1267 will extend the correction from 1.1537 and target 61.8% retracement at 1.1100, before completion

In the bigger picture, firm break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

- advertisement -

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0977; (P) 1.0993; (R1) 1.1011; More…

Intraday bias in EUR/CHF remains neutral at this point. Price actions form 1.0811 are viewed as a consolidation pattern. Upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065). On the downside, break of 1.0964 minor support will turn bias to the downside for retesting 1.0811 low. However, sustained break of 1.1062/5 will carry larger bullish implication and bring stronger rise.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Further fall should be seen to 1.0629 support and possibly below. On the upside, break of 1.1162 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

- advertisement -
- advertisement -