EURCHF Outlook

EUR/CHF stayed in consolidations above 0.9141 last week and outlook is unchanged. Initial bias remains neutral this week first. Another recovery cannot be ruled out, but upside should be limited below 0.9235 resistance. On the downside, firm break of 0.9141 will extend larger down trend to 261.8% projection of 0.9394 to 0.9268 from 0.9347 at 0.9143.

In the bigger picture, down trend from 0.9928 (2024 high) is still in progress with falling 55 W EMA (now at 0.9341) intact. Next target is 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of recovery.

In the long term picture, EUR/CHF is also holding well inside long term falling trend channel. Down trend from 1.2004 (2018 high) is still in progress. Outlook will continue to stay bearish as long as falling 55 M EMA (now at 0.9739) holds.

Daily Pivots: (S1) 0.9146; (P) 0.9166; (R1) 0.9186; More....

Intraday bias in EUR/CHF remains neutral at this point, and consolidations could continue above 0.9141. In case of another recovery, upside should be limited by 0.9235 resistance. On the downside, decisive break of 0.9141 will extend larger down trend to 261.8% projection of 0.9394 to 0.9268 from 0.9347 at 0.9143. However, firm break of 0.9235 resistance will suggest short term bottoming and bring stronger rebound to 55 D EMA (now at 0.9263).

In the bigger picture, another rejection by 55 W EMA (now at 0.9350) keeps outlook bearish. Downtrend from 1.2004 (2018 high) is still in progress. Firm break of 0.9178 will target 61.8% projection of 1.1149 to 0.9407 from 0.9928 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of recovery.

Daily Pivots: (S1) 0.9163; (P) 0.9173; (R1) 0.9189; More....

Intraday bias in EUR/CHF remains neutral for more consolidations above 0.9141. Upside should be limited by 0.9235 to bring another fall. Decisive break of 0.9141 will extend larger down trend to 261.8% projection of 0.9394 to 0.9268 from 0.9347 at 0.9143. However, firm break of 0.9235 resistance will suggest short term bottoming and bring stronger rebound to 55 D EMA (now at 0.9267).

In the bigger picture, another rejection by 55 W EMA (now at 0.9350) keeps outlook bearish. Downtrend from 1.2004 (2018 high) is still in progress. Firm break of 0.9178 will target 61.8% projection of 1.1149 to 0.9407 from 0.9928 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of recovery.