Thu, Oct 17, 2019 @ 00:29 GMT

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0685; (P) 1.0699; (R1) 1.0709; More…

Intraday bias in EUR/CHF is turned neutral as it failed to break through 1.0749 resistance. Nonetheless, with 1.0683 minor support intact, further rise is expected. As noted before, a short term bottom is likely in place at 1.0629 on bullish convergence condition in 4 hour MACD. Current development raised the chance of larger trend reversal after defending 1.0620 key support level. Decisive break of 1.0749 should affirm this bullish case and target 1.0897. On the downside, though, below 1.0683 minor support will turn bias back to the downside for 1.0629 instead.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. There is no confirmation of completion yet. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. However, strong rebound from 1.0620 and break of 1.0897 resistance will indicate trend reversal and turn outlook bullish.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1280; (P) 1.1350; (R1) 1.1390; More…

With 4 hour MACD crossed above signal line, intraday bias in EUR/CHF is turned neutral first. On the downside, break of 1.1310 will target 1.1259 and possibly below. But we’d continue to expect strong support from 1.1154/98 to contain downside and bring rebound. On the upside, break of 1.1376 minor resistance will indicate that the pull back from 1.1444 has completed. Intraday bias will be turned back to the upside for retesting 1.1444.

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 Daily Outlook

Daily Pivots: (S1) 1.1673; (P) 1.1696; (R1) 1.1738; More…

Intraday bias in EUR/CHF remains neutral as it’s still bounded in range below 1.1736. We continue to believe that the cross is close to topping, if not formed. On the downside, decisive break of 1.1597 support will a strong sign of trend reversal and should turn outlook bearish for 38.2% retracement of 1.0629 to 1.1736 at 1.1313. However, strong break of 1.1736 will resume medium term up trend from 1.0629 instead.

In the bigger picture, while a medium term top could be around the corner, there is no change in the larger outlook. That is, long term rise from SNB spike low back in 2015 is still in progress and would extend. As long as 1.1198 resistance turned support holds, we’ll hold on to this bullish view and expect another to prior SNB imposed floor at 1.2000. Though, we’ll reassess the outlook if 1.1198 is firmly taken out.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1764; (P) 1.1780; (R1) 1.1793; More…

Intraday bias in EUR/CHF stays neutral as range trading continues. As long as 1.1683 support holds, near term outlook stays bullish for further rally. Again, considering relatively weak upside momentum, in case of another rise, we’d expect strong resistance below 1.2 handle to bring medium term reversal. Break of 1.1683 support will be a early sign of reversal and turn focus to 1.1602 support.

In the bigger picture, while a medium term top could be around the corner, there is no change in the larger outlook. That is, long term rise from SNB spike low back in 2015 is still in progress and would extend. As long as 1.1198 resistance turned support holds, we’ll hold on to this bullish view and expect further rise to prior SNB imposed floor at 1.2000 and above. Though, we’ll reassess the outlook if 1.1198 is firmly taken out.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1333; (P) 1.1354; (R1) 1.1375; More…

Intraday bias in EUR/CHF remains neutral as it’s staying in range of 1.1310/1444. With 1.1310 intact, further rise is 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’s rebound from 1.1366 low resumed last week by breaking 1.1656 resistance and reached as high as 1.1707. Initial bias remains on the upside this week for 61.8% retracement of 1.2004 to 1.1366 at 1.1760. As such rebound is seen as the second leg of the corrective pattern from 1.2004, we’d expect strong resistance from 1.1760 to limit upside. On the downside, below 1.1618 will turn bias back to the downside for 1.1478 support and below. However, sustained trading above 1.1760 will pave the way to retest 1.2004 high next.

In the bigger picture, 1.2004 is seen as a medium term top with bearish divergence condition in daily and weekly MACD. 1.2000 is also an important resistance level. Hence, the corrective pattern from 1.2004 is expected to extend for a while before completion. Hence, 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 Weekly Outlook

EUR/CHF engaged in sideway trading last week and outlook is unchanged. We’re holding on to the bullish view of trend reversal. Upside break out is expected after the consolidation completes.

EUR/CHF 4 Hours Chart

Initial bias in EUR/CHF is neutral this week first. Further rally is expected as long s 1.0791 support holds. Break of 1.0872 will extend current rise to 1.0897 resistance. Decisive break there should confirm our bullish view of reversal and will target 1.0999 resistance next However, break of 1.0791 support will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0739).

EUR/CHF Daily Chart

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 1.0652 support holds.

EUR/CHF Weekly Chart

EUR/CHF Monthly Chart

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0864; (P) 1.0880; (R1) 1.0909; More…

EUR/CHF is staying below 1.0922 minor resistance despite today’s recovery. Intraday bias remains neutral and another decline is in factor. Break of 1.0832 will extend recent fall to 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645. Though, break of 1.0922 resistance will indicate short term bottoming and bring stronger rebound to 1.1062 resistance.

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.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1230; (P) 1.1246; (R1) 1.1261; More…

EUR/CHF’s retreat from 1.1342 is still in progress and intraday bias stays neutral. Outlook is unchanged that in case of deeper fall, we’d continue to expect strong support from key support zone of 1.1154/98 to bring strong rebound. 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) 1.1289; (P) 1.1310; (R1) 1.1345; More…

EUR/CHF is still staying below 1.1340/8 resistance despite the strong rebound. Intraday bias remains neutral first. Outlook is unchanged that we’re still slightly favoring the case the choppy decline from 1.1501 has completed at 1.1181 already. On the upside, break of 1.1348 will confirm this bullish case and turn bias to the upside for retesting 1.1501 next. On the downside, in case of another fall, we’d expect strong support from 1.1154/98 support zone to contain downside to bring rebound.

In the bigger picture, 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. 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) 1.1459; (P) 1.1510; (R1) 1.1537; More…

Intraday bias in EUR/CHF remains neutral as the consolidation from 1.1445 is still in progress. Outlook stays mildly bearish with 1.1639 resistance intact and deeper decline is expected. Break of 1.1445 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.

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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) 1.1354; (P) 1.1369; (R1) 1.1392; More…

Intraday bias in EUR/CHF remains neutral for the moment. More consolidation could be seen. But as long as 1.1310 support holds, further rally remains in favor. On the upside, break of 1.1444 will resume the rebound from 1.1181 and target 1.1501 key resistance next. On the downside, firm break of 1.1310 will indicate completion of the rebound. In that case, 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. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1220; (P) 1.1242; (R1) 1.1260; More….

Outlook in EUR/CHF remains unchanged as consolidation from 1.1119 is in progress. In case of stronger rise, upside should be below 1.1278 resistance to bring fall resumption. On the downside, below 1.1186 minor support will turn intraday bias back to the downside for 1.1119 first. Break there will extend recent down trend to 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 next limited.

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 could target 1.0629 support and below.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0839; (P) 1.0857; (R1) 1.0871; More…

Intraday bias in EUR/CHF remains neutral for the moment. Consolidation from 1.0811 might extend with another rise. But upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to bring fall resumption eventually. On the downside, sustained break of 1.0811 will resume larger down trend and target 1.0629 key support next.

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.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1411; (P) 1.1452; (R1) 1.1511; More…

EUR/CHF’s break of 1.1492 suggests resumption of rebound from 1.1173. Intraday bias is now back on the upside for 1.1713 resistance next. Decisive break there will confirm completion of whole fall from 1.2004 and target a test on this high. On the downside, however, break of 1.1392 minor support will argue that the rebound has completed and turn bias back to the downside for 1.1154/98 zone again.

In the bigger picture, 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 1.1234) 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) 1.1337; (P) 1.1353; (R1) 1.1365; More…

EUR/CHF is still staying in range of 1.1310/1444 and intraday bias remains neutral. With 1.1310 intact, further rise is 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 rebounded to 1.1337 last week but failed to break through 1.340/8 resistance so far. Initial bias remains neutral this week first. Overall, we’re slightly favoring the case the choppy decline from 1.1501 has completed at 1.1181 already. On the upside, break of 1.1348 will confirm this bullish case and turn bias to the upside for retesting 1.1501 next. On the downside, in case of another fall, we’d expect strong support from 1.1154/98 support zone to contain downside to bring rebound.

In the bigger picture, 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. 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 Weekly Outlook

EUR/CHF’s down trend resumed last week by braking 1.1056 to as low as 1.1012. Initial bias remains on the downside this week. next target is 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962. On the upside, break of 1.1154 resistance is needed to signal short term bottoming. Otherwise outlook will remain bearish in case of recovery.

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 could target 1.0629 support and below.

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EUR/CHF Weekly Outlook

EUR/CHF stayed in the consolidation pattern from 1.1537 last week and outlook is unchanged. Initial bias stays neutral this week first. On the upside, break of break of 1.1477 resistance will argue that the consolidation from 1.1537 has completed and larger rise is resuming. Further break of 1.1537 will confirm and target 1.2 key resistance level next. On the downside, however, firm break of 38.2% retracement of 1.0830 to 1.1537 at 1.1267 will extend the correction to 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.

EUR/CHF 4 Hours Chart

EUR/CHF Daily Chart

EUR/CHF Weekly Chart

EUR/CHF Monthly Chart

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