Daily Pivots: (S1) 0.9722; (P) 0.9778; (R1) 0.9843; More…

Intraday bias in EUR/CHF is turned neutral first as it recovered after hitting 0.9711. Upside of recovery should be limited by 0.9844 support turned resistance to bring another decline. As noted before, rebound 0.9407 could have completed at 1.0095 already. Below 0.9711 will target 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Sustained break there will bring deeper fall to retest 0.9407 low. Overall, risk will stay on the downside as long as 55 day EMA (now at 0.9906) holds.

In the bigger picture, rejection by 55 week EMA (now at 1.0011) and 38.2% retracement of 1.1149 to 0.9407 at 1.0072 suggests that medium term outlook is staying bearish. That is, down trend from 1.2004 is not completed yet and is in favor to resume through 0.9407 at a later stage. For now, this will be the favored case as long as 1.0095 resistance holds.

Daily Pivots: (S1) 1.1411; (P) 1.1440; (R1) 1.1478; More…

EUR/CHF is still limited below 1.1477 minor resistance and intraday bias remains neutral first. Consolidation from 1.1537 could extend but downside should be contained by 38.2% retracement of 1.0830 to 1.1537 at 1.1267 to bring rebound. 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.

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.

Daily Pivots: (S1) 1.0782; (P) 1.0811; (R1) 1.0827; More….

Intraday bias in EUR/CHF remains neutral at this point. With 1.0788 minor support intact, another rise is still mildly in favor. On the upside, above 1.0839 will resume the rebound from 1.0715 short term bottom to 38.2% retracement of 1.1149 to 1.0715 at 1.0881. We’d monitor the reaction to 1.0881 to assess the chance of bullish reversal. On the downside, break of 1.0788 minor support will turn bias back to the downside for retesting 1.0715 low instead.

In the bigger picture, rebound from 1.0505 (2020 low) should have completed at 1.1149 already. The three-wave corrective structure argues that the downtrend from 1.2004 (2018 high) is not over yet. Medium term outlook will now stay bearish as long as 55 week EMA (now at 1.0869) holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 1.1485; (P) 1.1515; (R1) 1.1532; More…

Intraday bias in EUR/CHF remains on the downside as fall from 1.1713 is in progress for 1.1478 support. Break there will confirm completion of corrective rebound from 1.1366 at 1.1713. Retest of 1.1366 low should then be seen. On the upside, break of 1.1603 resistance is needed to indicate completion of the fall from 1.1713. Otherwise, near term outlook will stay bearish in case of recovery.

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. 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.

EUR/CHF’s rebound form 1.0737 resumed last week after brief consolidations. Further rally is expected this week as long as 1.0794 minor support holds. Correction from 1.0890 should have completed already. EUR/CHF should target a test on 1.0890/0915 resistance zone next. Decisive break there will resume whole rebound from 1.0503.

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.

Daily Pivots: (S1) 1.0857; (P) 1.0891; (R1) 1.0913; More…

EUR/CHF weakens mildly but stays in consolidation from 1.0832. Intraday bias remains neutral for the moment. On the upside, break of 1.0928 will turn bias to the upside for stronger rebound. 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, down trend from 1.2004 is (2018 high) 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.

EUR/CHF gyrated lower to 0.9541 last week but recovered ahead of 0.9520. Overall outlook is unchanged as range trading continued. On the upside, break of 0.9647 will resume the rebound from 0.9520. Further sustained break of 0.9670 will be the first sign of bullish reversal and target 0.9840 resistance for confirmation. On the downside, break of 0.9520 will resume the whole fall from 1.0095 towards 0.9407 low.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9849). 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.

In the long term picture, outlook remains bearish as it’s staying well below 55 M EMA (now at 1.0422). Break of 1.00095 resistance is needed to be the first sign of bottoming, or the multi-decade down trend is expected to continue.

Daily Pivots: (S1) 0.9931; (P) 0.9948; (R1) 0.9982; More….

EUR/CHF’s rebound from 0.9844 is still in progress and intraday bias stays on the upside. As noted before, corrective pattern from 1.0095 should have completed with three waves down to 0.9844. Sustained break of the falling rend line resistance (now at 0.9974) will add to this bullish cas and bring retest of 1.0095 high. On the downside, below 0.9923 minor support will mix up the outlook and turn intraday bias neutral first.

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) 1.1512; (P) 1.1528; (R1) 1.1559; More….

EUR/CHF’s rebound from 1.1387 is still in progress. Intraday bias stays on the upside for 1.1622 resistance. But still, firm break there is needed to confirm up trend resumption. Otherwise, the consolidation from should continue with risk of at least another fall. Below 1.1450 will turn bias to the downside for 1.1387 and below. Strong support in expect at 1.1257 cluster support (38.2% retracement of 1.0652 to 1.1622 at 1.1251) to contain downside and bring rebound.

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 1.1198 resistance turned support holds.

Daily Pivots: (S1) 1.0237; (P) 1.0264; (R1) 1.0301; More….

EUR/CHF’s break of 1.0289 minor resistance suggests that pull back from 1.0369 has completed. Intraday bias is back on the upside for 1.0369/0400 resistance zone. Firm break there will resume the rebound from 0.9970 to 1.0610 structural resistance. On the downside,e below 1.0186 will extend the corrective pattern from 1.0400 with deeper fall back to 1.0086 support.

In the bigger picture, as long as 1.0505 support turned resistance (2020 low) holds, long term down trend from 1.2004 (2018 high) is expected to continue. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. However, firm break of 1.0505 will suggest medium term bottoming, and bring stronger rebound towards 1.1149 structural resistance.

Daily Pivots: (S1) 1.0686; (P) 1.0726; (R1) 1.0746; More….

EUR/CHF’s rebound lost momentum after hitting 1.0764 and intraday bias is turned neutral again. On the downside, break of 1.0678 will resume larger fall from 1.1149, towards 61.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0655. On the upside, above 1.0764 will resume the rebound to 55 day EMA (now at 1.0787) and possibly above.

In the bigger picture, the rejection by 55 week EMA maintains medium term bearishness. Fall from 1.1149 (2021 high) is currently seen as the second leg of the patter from 1.0505 (2020 low) first. Hence, in case of deeper fall, we’d look for strong support from 1.0505 to bring rebound. However, sustained break of 1.0505 will resume the long term down trend from 1.2004 (2018 high). Also, medium term outlook will now be neutral at best as long as 1.0936 resistance holds.

Daily Pivots: (S1) 0.9636; (P) 0.9647; (R1) 0.9662; More…

Intraday bias in EUR/CHF remains neutral for the moment. Some more consolidations could be seen. Further rally is still expected and decisive break of 0.9691 resistance will carry larger bullish implication, and target 0.9840 resistance next. However, break of 0.9595 support will indicate short term topping, and turn bias back to the downside for deeper pull back.

In the bigger picture, fall from 1.0095 (2023 high) might have completed at 0.9416, just ahead of 0.9407 support (2022 low). Sustained break of 0.9691 cluster resistance (38.2% retracement of 1.0095 to 0.9416 at 0.9675) will pave the way to 61.8% retracement at 0.9836 and above. However, rejection by 0.9691 will maintain medium term bearishness for another test on 0.9407 at least.

Daily Pivots: (S1) 1.1407; (P) 1.1500; (R1) 1.1556; More…

EUR/CHF’s decline extends to as low as 1.1445 so far and intraday bias is back on the downside. Current 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, break of 1.1639 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 1.0383; (P) 1.0398; (R1) 1.0424; More….

Intraday bias in EUR/CHF remains neutral for the moment. Outlook stays bearish as long as 1.0432 resistance holds. Break of 1.0324 will resume larger down trend from 1.1149 to 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. On the upside, however, break of 1.0432 minor resistance will indicate short term bottoming, and turn bias back to the upside for 1.0465 resistance and above.

In the bigger picture, long term down trend from 1.2004 (2018 high) is now extending. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. On the upside, break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of rebound.

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.

Daily Pivots: (S1) 1.1247; (P) 1.1271; (R1) 1.1284; More…

EUR/CHF breached 1.1264 as fall from 1.1476 resumed. Intraday bias is mildly on the downside towards 1.1162 low. We’d expect strong support above there to bring rebound. On the upside, break of 1.1317 minor resistance will suggest that the pull back has completed. Intraday bias will be turned back to the upside for 1.1484 again.

In the bigger picture, at this point, we’re slightly favoring the case that corrective fall from 1.2004 has completed at 1.1162 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. On the downside, firm break of 1.1154 is needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.