Thu, Dec 09, 2021 @ 08:12 GMT

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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0630; (P) 1.0639; (R1) 1.0646; More…

Range trading continues in EUR/CHF and outlook is unchanged. Intraday bias stays neutral first. With 1.0706 resistance intact,deeper decline is expected. Firm break of 1.0620 key support level will extend the larger decline from 1.1198 to 1.0485 fibonacci level. However, break of 1.0706 resistance will indicate short term bottoming and turn bias back to the upside. Further break of 1.0749 resistance will raise the chance of medium reversal.

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.

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EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1629; (P) 1.1676; (R1) 1.1699; More…

The sharp decline of EUR/CHF and strong break of 1.1638 support is raising the chance of trend reversal. Intraday bias in turned back to the downside 1.1541. Considering bearish divergence condition in 4 hour MACD and daily MACD, decisive break of 1.1541 will confirm topping and turn near term outlook bearish for 1.1355 key support. On the upside, above 1.1653 minor resistance will turn bias back to the upside for 1.1721 high instead.

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 1.1355 support holds. However, break of 1.1355 will indicate medium term topping. In that case, EUR/CHF should head back to 55 week EMA (now at 1.1158) and possibly below.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0541; (P) 1.0560; (R1) 1.0576; More

Intraday bias in EUR/CHF remains neutral and consolidation from 1.0523 might extend. Another rise cannot be ruled out. But upside outlook will remain bearish as long as 1.0710 resistance holds. On the downside, break of 1.0523 will resume larger down trend to 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. However, on the upside, break of 1.0710 will indicate short term bottoming. Stronger rebound would be seen back to 1.0811/1059 resistance zone.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. Sustained break of 1.0629 will pave the way to parity next. In any case, outlook will remain bearish as long as 1.0811 support turned resistance holds, in case of rebound. However, considering bullish convergence condition in daily MACD, firm of 1.0811 resistance will indicate medium term bottoming.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0658; (P) 1.0686; (R1) 1.0729; More…

As noted before, the breach of 1.0706 minor resistance indicates short term bottoming on bullish convergence condition in 4 hour MACD. This is also taken as an early sign of trend reversal after defending 1.0620 key support level. Intraday bias in EUR/CHF is cautiously on the upside for 1.0749 resistance first. Break will affirm this bullish case and target 1.0897 resistance next.

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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1701; (P) 1.1719; (R1) 1.1756; More…

No change in EUR/CHF’s outlook and intraday bias remains neutral at this point. We’re holding on to the view that it’s close to topping, if not formed. And even in case of another rise, strong resistance should be seen well below 1.2 handle to bring medium term reversal. On the downside, below 1.1670 minor support will turn bias to the downside for 1.1602 support first. Further break of 1.1602 will indicate reversal and turn outlook bearish for 1.1387 and below.

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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0867; (P) 1.0892; (R1) 1.0936; More…

EUR/CHF’s rally extends to as high as 1.0917 so far. The firm break of 1.0897 resistance as well as the medium term falling trend line affirmed our view of trend reversal. That is, whole correction from 1.1198 is completed. This is also supported by upside acceleration as seen in daily MACD. Intraday bias bias remains on the upside for 1.0999 resistance next. Break there will pave the way for a retest on 1.1198 high. On the downside, below 1.0872 minor support will turn bias neutral and bring consolidation. But retreat should be contained by 1.0791 support to bring another rally.

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.

EUR/CHF Weekly Outlook

EUR/CHF rose further to 1.1444 last week but reversed since then. The strong break of 1.1347 resistance turn supported argues that the rebound from 1.1181 might be completed. Initial bias is back on the downside this week for 1.1259 support first. Break will target 1.1181 low again. On the upside, above 1.1376 minor resistance will turn bias to the upside for 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.

In the long term picture, as long as key support zone of 1.1198 (2016 high) and 61.8% retracement of 1.0629 to 1.2004 at 1.1154 holds, A break of 1.2 key resistance is still expected in the medium to 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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0576; (P) 1.0599; (R1) 1.0636; More

Intraday bias in EUR/CHF remains neutral as range trading continues. Outlook stays bearish with 1.0710 resistance intact. Break of 1.0523 will resume larger down trend to 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. However, on the upside, break of 1.0710 will indicate short term bottoming. Stronger rebound would be seen back to 1.0811/1059 resistance zone.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. Sustained break of 1.0629 will pave the way to parity next. In any case, outlook will remain bearish as long as 1.0811 support turned resistance holds, in case of rebound. However, considering bullish convergence condition in daily MACD, firm of 1.0811 resistance will indicate medium term bottoming.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0743; (P) 1.0782; (R1) 1.0804; More

Intraday bias in EUR/CHF remains on the downside at this point. Current down trend should target 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648 next. On the upside, break of 1.0833 resistance is needed to indicate short term bottoming. Otherwise, outlook remains bearish in case of recovery.

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 1.1059 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

EUR/CHF Weekly Outlook

EUR/CHF’s break of 1.1622 resistance argues that medium term rally is resuming. Initial bias is cautiously on the upside for further rally. Sustained break of 1.1622 will pave the way to 1.2 key level. On the downside, below 1.1523 will dampen this bullish case and turn bias to the downside for 1.1387 instead. In that case, consolidation from 1.1622 will extend for a while.

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.

EUR/CHF 4 Hours Chart

EUR/CHF Daily Chart

EUR/CHF Weekly Chart

EUR/CHF Monthly Chart

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1004; (P) 1.1046; (R1) 1.1070; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.1087. At this point, we’d expect downside to 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 daily 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 Daily Outlook

Daily Pivots: (S1) 1.0630; (P) 1.0646; (R1) 1.0655; More…

Intraday bias in EUR/CHF remains neutral as it’s still bounded in range above 1.0629 temporary low. As long as 1.0706 resistance stays intact, deeper decline is still expected in the cross. Firm break of 1.0620 key support level will extend the larger decline from 1.1198 to 1.0485 fibonacci level. However, break of 1.0706 resistance will indicate short term bottoming and turn bias back to the upside. Further break of 1.0749 resistance will raise the chance of medium reversal.

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 Daily Outlook

Daily Pivots: (S1) 1.0548; (P) 1.0571; (R1) 1.0602; More

Still no change in EUR/CHF’s outlook even though it’s lacking a direction for now. With 1.0170 resistance intact, further fall is expected. Current down trend is in progress for 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. On the upside, break of 1.0710 resistance, however, will indicate short term bottoming. Intraday bias would be turned back to the upside for stronger rebound.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. Decisive break of 1.0629 key support should now pave the way to parity next. Overall, outlook will remain bearish as long as 1.0811 support turned resistance holds, in case of rebound.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0369; (P) 1.0389; (R1) 1.0401; More….

Intraday bias in EUR/CHF remains on the downside at this point. Current down trend from 1.1149 should target 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. On the upside, break of 1.0511 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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 1.0694 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of rebound.

EUR/CHF Weekly Outlook

EUR/CHF dropped notably last week as consolidation from 1.1149 extended with another falling leg. Deeper decline could be seen this week but we’d continue to expect strong support from 1.0954 bring rebound. On the upside, break of 1.1073 resistance will argue that larger rise from 1.0503 is ready to resume through 1.1149. However, firm break of 1.0954 will be the first signal of larger reversal and turn focus to 1.0915 resistance turned support.

In the bigger picture, whole down trend from 2004 (2018 high) should have completed at 1.0503. Rise from there is starting a medium term up trend. Next target is 61.8% retracement of 1.2004 to 1.0503 at 1.1431 and above. This will now remain the favored case as long as 1.0915 resistance turned support holds. However, sustained break of 1.0915 will argue that rise from 1.0503 might be completed, and bring deeper fall to 1.0737 support next.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1557; (P) 1.1598; (R1) 1.1655; More…

Intraday bias remains neutral in EUR/CHF and outlook is unchanged. With 1.1483 support intact, further rally is expected. On the upside, above 1.1663 minor resistance will turn bias back to the upside for 1.1709 high. Break will resume medium term rally to 1.2 key level. However, break of 1.1483 will be an early sign of reversal. In that case, deeper decline should be seen back to 1.1355 support.

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 1.1355 support holds. However, break of 1.1355 will indicate medium term topping. In that case, EUR/CHF should head back to 55 week EMA (now at 1.1105) and possibly below.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1515; (P) 1.1550; (R1) 1.1602; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1445 is extending. With 1.1639 resistance intact, further decline is expected. Below 1.1445 will extend the corrective fall from 1.1832 to 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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1371; (P) 1.1396; (R1) 1.1426; More…

Intraday bias in EUR/CHF stays neutral as consolidation from 1.1537 extends. 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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1588; (P) 1.1610; (R1) 1.1640; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.1709. Deeper pull back cannot be ruled out. But still, as long as 1.1483 minor support holds, outlook remains bullish and we’d expect further rally ahead. Break of 1.1709 will target 1.2 key level. However, break of 1.1483 will be an early sign of reversal. In that case, deeper decline should be seen back to 1.1355 support. .

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 1.1355 support holds. However, break of 1.1355 will indicate medium term topping. In that case, EUR/CHF should head back to 55 week EMA (now at 1.1067) and possibly below.