Daily Pivots: (S1) 1.0760; (P) 1.0777; (R1) 1.0786; More….

EUR/CHF is staying in range of 1.0737.0787 and intraday bias remains neutral. On the upside, break of 1.0787 support turned resistance will argue that corrective pull back from 1.0890 has completed. Intraday bias will be turned back to the upside for retesting 1.0890. On the downside, firm break of 1.0737 support will confirm the start of another falling leg inside the pattern from 1.0915. Deeper decline would be seen to 1.0658 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.

Daily Pivots: (S1) 0.9546; (P) 0.9563; (R1) 0.9581; More…

Intraday bias in EUR/CHF is back on the downside, as fall from 0.9691 resumed by breaking through 0.9557. Deeper fall would be seen to retest 0.9513 low first. Decisive break there will resume larger down trend from 1.0095. On the upside, above 0.9612 will turn bias back to the upside for 0.9691 instead.

In the bigger picture, medium term outlook will stay bearish as long as the cross is capped well below falling 55 W EMA (now at 0.9793). That is, down trend from 1.2004 (2018 high) could still resume through 0.9407 (2022 low). However, sustained trading above the 55 W EMA will raise the chance that 0.9470 is already a long term bottom. Further rise would then be seen to 1.0095 resistance to indicate bullish trend reversal.

EUR/CHF edged lower to 1.0584 last week but again, there was no committed follow through selling below 1.0629 medium term support. But after all, near term outlook remains bearish with 1.0737 resistance intact. Current down trend should target 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. While initial support might be seen from 1.0629 on first attempt, outlook will stay bearish as long as 1.1059 resistance holds. Decisive break of 1.0629 will pave the way to parity next.

Daily Pivots: (S1) 1.0838; (P) 1.0882; (R1) 1.0870; More…

EUR/CHF is staying in consolidation from 1.0832 and intraday bias remains neutral first. Above 1.0928 will extend the recovery 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, 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 should target 1.0629 support and below.

Daily Pivots: (S1) 1.0581; (P) 1.0607; (R1) 1.0629; More…

EUR/CHF’s rise resumes today by taking out 1.0662 and hits as high as 1.0698 so far. Intraday bias is back on the upside for 1.0710 cluster resistance (38.2% retracement of 1.1059 to 1.0503 at 1.0715). Firms break there will put 1.0811 key resistance in focus. On the downside, break of 1.0589 support is needed to indicate completion of the current rebound. Otherwise, further rally is in favor for the near term, in case of retreats.

In the bigger picture, as long as 1.0811 support turned resistance holds, we’d still expect larger down trend from 1.2004 (2018 high) to extend lower to parity. However, Firm break of 1.0811 should confirm medium term bottoming at 1.0503. Stronger rise should be seen back to 1.1059 resistance and above.

Daily Pivots: (S1) 1.0972; (P) 1.0994; (R1) 1.1009; More…

EUR/CHF recovers ahead of 1.0974 minor support and intraday bias remains neutral first. Outlook is unchanged too. We’d continue to expect strong resistance from 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to limit upside to complete the consolidation pattern from 1.0811. On the downside, break of 1.0974 minor support will turn bias to the downside for retesting 1.0811 low. However, sustained break of 1.1062/5 will carry larger bullish implication and bring stronger rise.

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 1.1162 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.0911; (P) 1.0937; (R1) 1.0986; More…

Intraday bias in EUR/CHF remains on the upside as rebound from 1.0811 is in progress. Further rise could be seen but upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1605 to bring fall resumption. On the downside, below 1.0886 minor support will turn bias to the downside for retesting 1.0811 low first.

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.

Daily Pivots: (S1) 0.9827; (P) 0.9857; (R1) 0.9893; More….

Intraday bias in EUR/CHF stays neutral as consolidation pattern from 0.9953 is still extending. On the upside, firm break of 0.9953 resistance will resume larger rally from 0.9407 to 1.0072 fibonacci level. However, break of 0.9720 will extend the decline from 0.9953 to 61.8% retracement of 0.8407 to 0.9953 at 0.9616.

In the bigger picture, rejection by 0.9970 support turned resistance retains medium term bearishness. That is, while 0.9407 is a medium term bottom, price actions from there would develope into a corrective pattern rather than a reversal. Down trend resumption through 0.9407 is mildly favored at a later stage. This will remain the favored case now, as long 38.2% retracement of 1.1149 to 0.9407 at 1.0072 holds.

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) 0.9532; (P) 0.9545; (R1) 0.9562; More…

EUR/CHF’s rally is in progress for 0.9574 fibonacci resistance. Considering loss of momentum as seen in 4H MACD, upside could be limited there, at least on first attempt. On the downside, break of 0.9466 support will indicate short term topping, and turn bias back to the downside.

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 and possibly above. But overall medium term outlook will remain bearish as long as 0.9683 resistance holds.

Daily Pivots: (S1) 1.1390; (P) 1.1439; (R1) 1.1471; More…

Intraday bias in EUR/CHF remains on the downside for the moment. Correction from 1.1622 short term top is in progress and would target 1.1355 support first. Strong support is expected from 1.1257 (38.2% retracement of 1.0652 to 1.1622 at 1.1251) to bring rebound. On the upside, break of 1.1511 minor resistance will suggest that the pull back is completed and bring retest of 1.1622.

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) 1.0803; (P) 1.0815; (R1) 1.0836; More….

Intraday bias in EUR/CHF remains neutral for the moment and further rise is expected with 1.0790 support intact. We’re holding on to the view that consolidation pattern from 1.0915 has completed with three waves to 1.0661. On the upside, decisive break of 1.0877 should confirm this bullish case and target 1.0915 and above. On the downside, however, 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) 1.1243; (P) 1.1275; (R1) 1.1306; More…

As long as 1.1354 minor resistance holds, further decline is expected in EUR/CHF to key support zone at 1.1154/98. We’d expect strong support from there to contain downside to complete the whole decline from 1.2004. Meanwhile, considering mild bullish convergence condition in 4 hour MACD, break of 1.1354 will indicate short term bottoming. Stronger rebound should then be seen towards 1.1489 support turned resistance.

In the bigger picture, for now, the price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1154/98 support zone, 1.1198 (2016 high), 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 1.1173) 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.

Daily Pivots: (S1) 1.1106; (P) 1.1122; (R1) 1.1134; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1056 is still in progress. Another recovery cannot be ruled out. But 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.

EUR/CHF’s sharp decline last week and break of 1.0216 support suggests that corrective rebound from 0.9970 has completed after failing 1.0505 long term resistance, as well as 55 week EMA. Initial bias stays on the downside this week. Break of 1.0086 support will affirm this bearish case and bring retest of 0.9970 low. On the upside, above 1.0232 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.0513 resistance holds.

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.

In the long term picture, capped below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until some sustained trading above the 55 month EMA (now at 1.0846).

Daily Pivots: (S1) 1.0650; (P) 1.0688; (R1) 1.0715; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.0725 temporary top first. On the upside, sustained break of 1.0710 cluster resistance (38.2% retracement of 1.1059 to 1.0503 at 1.0715) will extend the rally to 1.0811 key resistance next. However, on the downside, break of 1.0578 minor support will bring retest of 1.0503 low instead.

In the bigger picture, the down trend from 1.2004 (2018 high) remains intact despite the current rebound. As long as 1.0811 support turned resistance holds, outlook stays bearish for another decline through 1.0503 low. However, firm break of 1.0811 should confirm medium term bottoming at 1.0503. Stronger rise should be seen back to 1.1059 resistance and above.

Daily Pivots: (S1) 0.9750; (P) 0.9817; (R1) 0.9853; More….

Intraday bias in EUR/CHF remains on the downside at this point. Firm break of 0.9728 support will carry larger bearish implications and target 38.2% retracement of 0.9252 to 0.9928 at 0.9670. On the upside, above 0.9816 minor resistance will turn intraday bias neutral first. But risk will stay mildly on the downside as long as 0.9928 resistance holds, in case of recovery.

In the bigger picture, as long as 0.9728 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Next target is 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even just as a correction to the down trend from 1.2004. However, firm break of 0.9728 will raise the chance of bearish reversal and turn focus to 0.9563 support for confirmation.

Daily Pivots: (S1) 1.0765; (P) 1.0806; (R1) 1.0827; More….

EUR/CHF’s fall from 1.0936 resumed by breaking 1.0811 temporary low. Intraday bias is back on the downside for retesting 1.0694 low. On the upside, above 1.0860 minor resistance will turn bias back to the upside for retesting 1.0936 resistance instead.

In the bigger picture, the stronger than expected rebound from 1.0694 and break of 55 week EMA (now at 1.0861) mixes up the medium term outlook. On the upside, break of 1.1149 will resume the whole rise from 1.0505 (2020 low). On the downside, break of 1.0694 will revive some medium term bearishness for 1.0505 and below.

Daily Pivots: (S1) 1.1282; (P) 1.1299; (R1) 1.1308; More…

EUR/CHF’s rise from 1.1162 is still in progress and intraday bias remains on the upside. Sustained trading above 1.1310 support turned resistance will pave the way to retest 1.1444 key resistance level next. On the downside, below 1.1254 minor support will turn bias back to the downside for 1.1154 key fibonacci level instead.

In the bigger picture, multiple rejection by 55 week EMA indicates medium term bearishness. Focus remains on 1.1154/98 support zone (2016 high and 61.8% retracement of 1.0629 to 1.2004 at 1.1154). Decisive break there will confirm resumption of whole down trend from 1.2004 and long term bearish reversal. EUR/CHF should then target 1.0629 support and below. This will now remain the favored case as long as 1.1444 resistance holds.

EUR/CHF’s consolidation pattern from 0.9953 continued last week and overall outlook is unchanged. Initial bias stays neutral this week first. On the upside, firm break of 0.9953 resistance will resume larger rally from 0.9407 to 1.0072 fibonacci level. However, break of 0.9720 will extend the decline from 0.9953 to 61.8% retracement of 0.8407 to 0.9953 at 0.9616.

In the bigger picture, as long as 38.2% retracement of 1.1149 to 0.9407 at 1.0072 holds, price actions from 0.9407 medium term bottom will be treated as a corrective pattern. That is, long term down trend would resume through this low at a later stage. Nevertheless, firm break of 1.0072 will also have 55 week EMA (now at 1.0074) taken out. That would be an initial sign of long term bullish reversal.

In the long term picture, capped well below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until firm break of 1.0505 support turned resistance (2020 low). In case of resumption, next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033.