Daily Pivots: (S1) 1.1184; (P) 1.1229; (R1) 1.1310; More…

EUR/CHF surges to as high as 1.1362 so far and intraday bias stays on the upside. Current rally is starting 161.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1370. Break there will target 200% projection at 1.1498 next. On the downside, below 1.1245 minor support will turn bias neutral and bring consolidations first. But downside of retreat should be contained well above 1.1087 to bring rally resumption.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of 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. For now, this will be the favored case as long as 1.0986 resistance turned support holds.

Daily Pivots: (S1) 1.0672; (P) 1.0700; (R1) 1.0715; More…

EUR/CHF is still holding on to 1.0683 minor support despite brief breach. Intraday bias stays neutral first. We’d slightly favoring the case of trend reversal on bullish convergence condition in daily MACD. And, further rise is mildly in favor as long as 1.0683 minor support holds. Above 1.0761 minor resistance will turn bias to the upside for 1.0823 resistance first. Break will re-affirm the case of trend reversal and target 1.0897 resistance next. However, firm break of 1.0683 minor support will turn bias to the downside for 1.0620 key support level again.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Decisive break of 1.0897 resistance should confirm that it’s completed. And in that case, larger up trend is resuming for another high above 1.1198. Meanwhile, sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485.

Daily Pivots: (S1) 1.0475; (P) 1.0494; (R1) 1.0519; More….

Intraday bias in EUR/CHF is turned neutral with current recovery. But further decline is expected with 1.0596 resistance intact. Break of 1.0446 will resume the down trend from 1.1149 to 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. Nevertheless, break of 1.0596 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, down trend from 1.2004 (2018 high) should be resuming with break of 1.0505 (2020 low). Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. On the upside, break of 1.0694 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

EUR/CHF dropped to as low as 1.0735 last week but recovered since then. Initial bias is neutral this week first. Current development argues that consolidation pattern from 1.0915 is extending with another falling leg. Further fall is in favor as long as 1.0799 minor resistance holds. Below 1.0735 will target 1.0661 support. On the upside, however, firm break of 1.0799 will bring retest of 1.0871 resistance instead.

In the bigger picture, price actions from 1.0503 are still seen as a consolidation pattern. With 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) intact, the down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1059/76 will argue that rise from 1.0503 is starting a new up trend and would target 61.8% retracement at 1.1431 and above.

EUR/CHF’s rebound last week suggests that pull back from 0.9471 has completed at 0.9304 already. Initial bias remains on the upside this week for 0.9471. Firm break there will resume whole rebound from 0.9252 to 100% projection of 0.9252 to 0.9471 from 0.9304 at 0.9523. On the downside, below 0.9395 minor support will turn intraday bias neutral first.

In the bigger picture, price actions from 0.9252 are tentatively seen as a correction to the five-wave down trend from 1.0095 (2023 high). Further rise would be seen to 38.2% retracement of 1.0095 to 0.9252 at 0.9574. But overall medium term outlook will remain bearish as long as 0.9683 resistance holds.

In the long term picture, fall from 1.2004 (2018 high) is part of the multi-decade down trend. Firm break of 1.0095 resistance is needed to be the first sign of long term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 0.9732; (P) 0.9776; (R1) 0.9805; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 0.9847 is still extending. Near term outlook will remain bullish as long as 0.9709 support holds. Break of 0.9847 will resume larger rise from 0.9252. However, considering bearish divergence condition in 4H MACD, break of 0.9709 will confirm short term topping, and turn bias back to the downside for deeper pullback.

In the bigger picture, a medium term bottom should be in place at 0.9252 already, on bullish convergence condition in W MACD. Rise from there would now target 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even as a correction to the down trend from 1.2004. This will remain the favored case as long as 55 D EMA (now at 0.9625) holds.

Daily Pivots: (S1) 1.1065; (P) 1.1084; (R1) 1.1102; More…

EUR/CHF is staying in consolidation from 1.1056 and intraday bias remains neutral first. More sideway trading could be seen. In case of another recovery, upside should be limited below 1.1264 resistance to bring fall resumption. On the downside, break of 1.1056 will extend the larger down trend for 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 next.

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.

Daily Pivots: (S1) 1.1570; (P) 1.1596; (R1) 1.1621; More…

Intraday bias in EUR/CHR remains neutral for consolidation above 1.1540. Upside of recovery should be limited by 1.1684 minor resistance to bring fall resumption. As noted before, the decline from 1.1832 is correcting medium term rise from 1.0629. Below 1.1540 will target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.)

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.

Daily Pivots: (S1) 1.0911; (P) 1.0935; (R1) 1.0948; More…

EUR/CHF’s consolidation from 1.0986 is still in progress and intraday bias remains neutral. Deeper pull back cannot be ruled out. 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.

Daily Pivots: (S1) 0.9846; (P) 0.9889; (R1) 0.9912; More….

EUR/CHF’s decline continues today and immediate focus is now on 0.9832. Strong rebound from current level, followed by break of 0.9892 minor resistance, will argue that fall from 1.0040 has completed. Intraday bias will be turned back to the upside for 1.0040/95 resistance zone. However, sustained break of 0.9832 will carry larger bearish implication and target 0.9407 low again.

In the bigger picture, with 0.9832 support intact, rise from 0.9407 (2022 low) is still expected to continue. Break of 1.0095 and sustained trading above 55 week EMA (now at 1.0021) will be a medium term bullish signal, and bring further rally to 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484). However, firm break of 0.9832 support will revive medium term bearishness and bring retest of 0.9407 low instead.

Daily Pivots: (S1) 1.1301; (P) 1.1334; (R1) 1.1355; More…

EUR/CHF is holding on to 1.1310 support for the moment and intraday bias stays neutral. Further rise is in favor as long as 1.1310 support holds. 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.

Daily Pivots: (S1) 1.0789; (P) 1.0818; (R1) 1.0838; More…

Intraday bias in EUR/CHF remains neutral and more range trading could be seen. Further rise is expected with 1.0721 support intact. On the upside, break of 1.0877 will resume the rebound from 1.0602 and target 1.0915 resistance first. Break there will resume the whole rise from 1.0503. However, break of 1.0721 will suggest completion of the rebound from 1.0602. In that case, intraday bias will be turned back to the downside for this 1.0602 support.

In the bigger picture, price actions from 1.0503 are still seen as a consolidation pattern. With 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) intact, the down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1059/76 will argue that rise from 1.0503 is starting a new up trend and would target 61.8% retracement at 1.1431 and above.

EUR/CHF dipped further to 0.9675 last week, but turned sideway just ahead of 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Initial bias remains neutral this week first. Strong support should still be seen around 0.9670 to complete the whole corrective pattern from 1.0095. On the upside, firm break of 0.9760 resistance will confirm short term bottoming, and turn bias back to the upside for 0.9878 resistance next. However, sustained break of 0.9670 will pave the way back to 0.9407 low instead.

In the bigger picture, prior rejection by 38.2% retracement of 1.1149 to 0.9407 at 1.0072 suggests that medium term outlook is staying bearish. The pair is also capped below 55 W EMA (now at 0.9945). Down trend from 1.2004 (2018 high) is not completed yet and is in favor to resume through 0.9407 at a later stage. However, decisive break of 1.0095 resistance will raise the chance of bullish trend reversal. Rise from 0.9407 should then target 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484).

In the long term picture, it’s still way too early too call for bullish trend reversal with upside capped well below 55 M EMA (now at 1.0515) and 1.0505 support turned resistance (2020 low). The multi-decade down trend could still continue.

Daily Pivots: (S1) 1.0798; (P) 1.0819; (R1) 1.0845; More…

Despite dipping to 1.0791, EUR/CHF quickly recovered and intraday bias remains neutral first. At this point, further rally is still expected and break of 1.0872 should target 1.0897 resistance. Decisive break there should confirm our bullish view of reversal and will target 1.0999 resistance next Nonetheless, break of 1.0798 support will indicate short term topping and turn focus back to 55 day EMA (now at 1.0735).

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.

Daily Pivots: (S1) 1.0711; (P) 1.0723; (R1) 1.0743; More…

EUR/CHF is staying in the consolidation pattern from 1.0677 and intraday bias stays neutral. Price actions from 1.1198 are seen a corrective pattern that is still unfolding. Below 1.0677 will target 1.0620 key support level. On the upside, above 1.0762 will turn focus back to 1.0897 resistance. Decisive break there will suggest reversal and turn near term outlook bullish.

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.

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Daily Pivots: (S1) 1.1684; (P) 1.1698; (R1) 1.1710; More…

Consolidation from 1.1740 temporary top is still in progress and intraday bias remains neutral. Again, with 1.1630 minor support intact, near term outlook remains bullish. Above 1.1740 will target a test on 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 1.1630 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.

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.

Daily Pivots: (S1) 0.9577; (P) 0.9600; (R1) 0.9632; More…

Intraday bias in EUR/CHF stays neutral at this point. Further decline is in favor as long as 0.9670 holds. On the downside, break of 0.9520 will resume the whole fall from 1.0095 towards 0.9407 low. Nevertheless, sustained break of 0.9670 will be the first sign of bullish reversal and target 0.9840 resistance for confirmation.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9860). Down trend from 1.2004 (2018 high) is in favor to continue. Sustained break of 0.9407 will target 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. For now, this will remain the favored case as long as 0.9840 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.1357; (P) 1.1388; (R1) 1.1411; More…

EUR/CHF is still bounded in consolidation from 1.1537 and intraday bias remains neutral. On the upside, break of 1.1537 resistance will confirm resumption of larger rally from 1.0629. In that case, EUR/CHF should target 1.2 key resistance level next. On the downside, 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, long term rise from SNB spike low back in 2015 is still in progress. EUR/CHF should now be heading 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.

Daily Pivots: (S1) 1.1029; (P) 1.1048; (R1) 1.1070; More…..

No change in EUR/CHF’s outlook. Recovery from 1.0962 short term bottom could extend higher. But upside should be limited limited by 1.1172 resistance to bring down trend resumption. On the downside, sustained break of 1.0962 will extend the fall from 1.2004 to 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645 next.

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.