Daily Pivots: (S1) 1.1764; (P) 1.1781; (R1) 1.1797; More…

Intraday bias in EUR/CHF stays neutral first. Even in case of another rise, we’ll remain cautious on strong resistance from 1.1832 to bring near term reversal. On the downside, below 1.1730 minor support will turn bias to the downside first. Further break of 1.1649 support will indicate completion of rebound form 1.1445. And the corrective pattern from 1.1832 would then have started the third leg to retest 1.1445. However, firm break of 1.1832 will confirm resumption of larger up trend.

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) 1.0666; (P) 1.0679; (R1) 1.0700; More…

Intraday bias in EUR/CHF is neutral for the moment for consolidation above 1.0652 temporary low. With 1.0699 minor resistance intact, deeper decline is still expected. below 1.0652 will target 1.0620/0629 support zone. Decisive break there will confirm resumption of whole fall from 1.1198. In that case, EUR/CHF should target next long term fibonacci level at 1.0485. On the upside, break of 1.0699 minor resistance will argue that choppy fall from 1.0823 has completed and turn bias back to the upside.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Current development suggests that it’s not completed yet. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. In any case, break of 1.0823 resistance is needed to be the first indication of reversal. Otherwise, deeper fall is still expected even in case of recovery.

Daily Pivots: (S1) 1.0211; (P) 1.0250; (R1) 1.0307; More….

EUR/CHF’s break of 1.0298 support turned resistance now suggests that decline from 1.1149 has completed with five waves down to 0.9970, after defending parity. Intraday bias is now back on the upside for stronger rebound to 38.2% retracement of 1.1149 to 0.9970 at 1.0420 first. On the downside, however, break of 1.0184 support will turn bias back to the downside for retesting 0.9970 low instead.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. Firm break there will target 100% projection at 0.9650. In any case, break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 1.0619; (P) 1.0659; (R1) 1.0682; More…

EUR/CHF’s fall continues and intraday bias remains on the downside for 1.0620 support. Decisive break there will confirm resumption of whole fall from 1.1198. In that case, next downside target will be 1.0485 fibonacci level. On the upside, break of 1.0749 resistance is needed to indicate short term bottoming. Otherwise, outlook remain bearish in case of recovery.

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.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 1.1355; (P) 1.1407; (R1) 1.1434; More…

EUR/CHF’s pull back from 1.1476 extends lower but stays above 1.1366 minor support. Intraday bias remains neutral first. Near term outlook stays bullish as long as 1.1366 minor support holds and further rally is expected. On the upside, decisive break of 38.2% retracement of 1.2004 to 1.1162 at 1.1484 should confirm completion of corrective fall from 1.2004. Further rally should then be seen to 61.8% retracement at 1.1682 and above. Nevertheless, break of 1.1366 would indicate rejection from 1.1484 fibonacci level and turn bias to the downside.

In the bigger picture, focus is back on 1.1444 resistance with current rebound. Decisive break there will indicate completion of the decline from 1.2004, with support from 61.8% retracement of 1.0629 to 1.2004 at 1.1154. In this case, further rise should be seen to 1.1713 resistance next. On the downside, firm break of 61.8% retracement of 1.0629 to 1.2004 at 1.1154 is now needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.

Daily Pivots: (S1) 1.0651; (P) 1.0677; (R1) 1.0694; More….

EUR/CHF breached 1.0656 briefly but quickly recovered, intraday bias remains neutral first. On the upside, break of 1.0764 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish. On the downside, firm break of 1.0656 will resume larger fall from 1.1149 to 100% projection of 1.1149 to 1.0694 from 1.0936 at 1.0481.

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) 1.1035; (P) 1.1064; (R1) 1.1119; More…

EUR/CHF’s rally accelerates to as high as 1.1173 so far. Intraday bias remains on the upside for 1.1198 key resistance next. Sustained break there will carry larger bullish implication. In such case, next near term target will be 161.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1370. On the downside, below 1.1106 minor support will turn intraday bias neutral first. But retreat should be contained by 1.1006 to bring rise resumption.

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’s recovery was limited at 1.0653 last week and reversed. But it’s held above 1.0523 low so far. Initial bias remains neutral this week first, and consolidation from 1.0523 could extend further. But in any case, outlook will remain bearish as long as 1.0710 resistance holds. 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.

Daily Pivots: (S1) 1.0460; (P) 1.0473; (R1) 1.0498; More….

EUR/CHF is losing some downside momentum as seen in 4 hour MACD. But further fall is still expected for now. Current down trend from 1.1149 should now target 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. On the upside, break of 1.0596 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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.

Daily Pivots: (S1) 0.9913; (P) 0.9983; (R1) 1.0022; More….

EUR/CHF’s break of 0.9986 suggests that corrective pattern from 1.0095 is in the third leg. Intraday bias is back on the downside for 0.9874 support, and possibly below. But downside should be contained by 38.2% retracement of 0.9407 to 1.0095 at 0.9832 to bring rebound.

In the bigger picture, the initial rejection by 55 week EMA (now at 1.0039) mixed up the outlook. On the upside, sustained trading above 55 week EMA 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). However, firm break of 0.9832 support will revive medium term bearishness and bring retest of 0.9407 low instead.

Daily Pivots: (S1) 1.1443; (P) 1.1471; (R1) 1.1493; More…

Intraday bias in EUR/CHF remains neutral for at this point. On the downside, break of 1.1387 will extend the corrective fall from 1.1622 to 1.1257 cluster support (38.2% retracement of 1.0652 to 1.1622 at 1.1251). Strong support is expected there to contain downside and bring rebound. Above 1.1497 will extend the recovery. But break of 1.1622 is needed to confirm up trend resumption. Otherwise, the consolidation should continue with risk of at least another fall.

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) 1.1409; (P) 1.1425; (R1) 1.1451; More…

EUR/CHF’s rally extends to as high as 1.1439 so far. Intraday bias stays is back on the upside for 1.1444 key resistance. Decisive break of 1.1444 will indicate larger bullish reversal. EUR/CHF should target 1.1501 resistance first. On the downside, however, break of 1.1366 support will indicate rejection from 1.1444 key resistance. Intraday bias will be turned back to the downside for retesting 1.1154 long term fibonacci support.

In the bigger picture, focus is back on 1.1444 resistance with current rebound. Decisive break there will indicate completion of the decline from 1.2004, with support from 61.8% retracement of 1.0629 to 1.2004 at 1.1154. In this case, further rise should be seen to 1.1713 resistance next. On the downside, firm break of 61.8% retracement of 1.0629 to 1.2004 at 1.1154 is now needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.

Daily Pivots: (S1) 0.9652; (P) 0.9666; (R1) 0.9688; More…

EUR/CHF’s rally from 0.9416 is still in progress and intraday bias stays on the upside for 0.9691 resistance. Firm break there will argue that whole decline from 1.0095 has completed, just ahead of 0.9407 support (2022 low). Nevertheless, 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.

EUR/CHF edged lower to 1.0802 last week but recovered since then. Initial bias remains neutral this week for some consolidations first. Outlook will stay bearish as long as 1.0985 resistance holds. Break of 1.0802 will resume the decline from 1.1149, to 1.0737 cluster support next.

In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed with three waves up to 1.1149 already. Sustained trading below 55 week EMA (now at 1.0882) will affirm this bearish case. Further break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) will bring retest of 1.0505 low.

In the long term picture, price actions from 1.0505 are currently seen as a correction to down trend from 1.2004 (2018 high). only. The failure to sustain above 38.2% retracement of 1.2004 to 1.0505 at 1.1078 retains long term bearishness. This is also affirmed by rejection by 55 month EMA. Another fall through 1.0505 is mildly in favor for now.

Daily Pivots: (S1) 1.0784; (P) 1.0808; (R1) 1.0824; More….

EUR/CHF is holding on to 1.0790 support despite the deep pull back from 1.0871. Intraday bias remains neutral and further rise is still in favor. Consolidation pattern from 1.0915 should have completed with three waves to 1.0661. Break of 1.0877 resistance will resume the whole rebound from 1.0503. On the downside, break of 1.0790 support will dampen this bullish case. and turn bias to the downside to extend the consolidation from 1.0915.

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) 1.0900; (P) 1.0919; (R1) 1.0935; More…

EUR/CHF’s consolidation from 1.0986 is still in progress and intraday bias stays neutral at this point. Deeper fall could be seen but downside is expected to be contained by 1.0791/0872 support zone to bring rise resumption. As noted before, the consolidative pattern from 1.1198 should be completed. 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) 1.0184; (P) 1.0244; (R1) 1.0281; More….

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. As long as 1.0298 support turned resistance holds, larger decline from 1.1149 is still in favor to continue. On the downside, firm break of 0.9970 will target 161.8% projection of 1.0936 to 1.0298 from 1.0610 at 0.9578. However, sustained break of 1.0298 will bring stronger rebound towards 1.0610 structural resistance instead.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. Firm break there will target 100% projection at 0.9650. In any case, break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

EUR/CHF stayed in sideway consolidation in tight range last week and outlook is unchanged. Initial bias remains neutral this week first and further rise is in favor with 1.0772 minor support intact. Consolidation pattern from 1.0915 should have completed with three waves to 1.0661. On the upside, break of 1.0827 will target 1.0877 resistance to confirm this bullish case. However, break of 1.0772 support will likely extend the pattern with another falling leg and turn bias to the downside.

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) 1.0216; (P) 1.0266; (R1) 1.0293; More….

No change in EUR/CHF’s outlook and intraday bias remains neutral at this point. On the upside, break of 1.0400 would resume the rebound from 0.9970 to 1.0610 key structural resistance. However, break of 1.0184 minor support will argue that the rebound is finished, ahead of 38.2% retracement of 1.1149 to 0.9970 at 1.0420. In this case, intraday bias will be turned back to the downside for retesting 0.9970 low.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. In any case, sustained break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 1.0359; (P) 1.0384; (R1) 1.0406; More….

Intraday bias in EUR/CHF stays neutral as range trading continues. On the upside, decisive break of 1.0513 will resume the whole rebound from 0.9970, for 1.0610 structural resistance. On the downside, break of 1.0216 will turn near term outlook bearish for 1.0086 support next.

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.