Thu, Dec 09, 2021 @ 06:21 GMT

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1361; (P) 1.1392; (R1) 1.1438; More…

Intraday bias in EUR/CHF remains neutral for the moment. As long as 1.1470 minor resistance holds, another decline is mildly in favor. On the downside, break of 1.1334 will extend the fall from 1.1501 towards 1.1154/98 key support zone. On the upside, break of 1.1470 will turn focus back to 1.1501. Decisive break of 1.1501 will revive the case of bullish reversal.

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 1.1243) 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 Weekly Outlook

EUR/CHF was still bounded in sideway trading between 1.0974/1059 last week. Outlook remains unchanged and initial bias remains neutral this week first. Price actions from 1.0811 are viewed as a consolidative pattern. Upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065). 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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1045; (P) 1.1059; (R1) 1.1076; More….

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1149 is extending. In case of deeper pull back, downside should be contained by 1.0954 support to bring rebound. On the upside, firm break of 1.1149 will resume the rise from 1.0504 and target 161.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.1404.

In the bigger picture, current development suggests that whole down trend from 1.2004 (2018 high) has 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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1249; (P) 1.1269; (R1) 1.1293; More…

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. We’re still slightly favoring the case the choppy decline from 1.1501 has completed at 1.1181 already. On the upside, break of 1.1348 will confirm this bullish case and turn bias to the upside for retesting 1.1501 next. On the downside, in case of another fall, we’d expect strong support from 1.1154/98 support zone to contain downside to bring rebound.

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. 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) 1.0545; (P) 1.0572; (R1) 1.0589; More….

Intraday bias in EUR/CHF stays neutral and further decline is expected with 1.0602 resistance intact. Break of 1.0532 will resume the down trend from 1.1149 and target 100% projection of 1.1149 to 1.0694 from 1.0936 at 1.0481. On the upside, however, break of 1.0602 will turn bias to the upside for stronger rebound back towards 1.0678 support turned resistance.

In the bigger picture, current downside momentum argues that fall from 1.1149 is probably resuming the down trend from 1.2004 (2018 high). Next focus is 1.0505 (2020 low). Decisive break there will confirm this bearish case and target 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223 next. Strong support from 1.0505 will bring rebound first. But outlook will stay bearish as long as 1.0936 resistance holds.

EUR/CHF Weekly Outlook

EUR/CHF’s down trend resumed after brief recovery and hit as low as 1.0657. Initial bias stays on the downside this week. Firm break of 61.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0655 will target 100% projection at 1.0481, which is close to 1.0505 key long term support. On the upside, break of 1.0764 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, 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.

In the long term picture, rejection by 55 month EMA (now at 1.1037) maintains long term bearishness. Break of 1.0505 low will resume the down trend from 1.2004 to 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0767; (P) 1.0792; (R1) 1.0821; More

Sideway trading continues in EUR/CHF and intraday bias stays neutral for the moment. Further rally is expected with 1.0721 support intact. On the upside, break of 1.0877 resistance will extend the rebound from 1.0602 for retesting 1.0915 high. On the downside, however, firm break of 1.0721 will argue that the rebound from 1.0602 has completed. Intraday bias will be turned back to the downside for this 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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0791; (P) 1.0819; (R1) 1.0838; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.0869 temporary top. We’d expect downside of retreat to be contained by 1.0781 minor support and bring another rally. Above 1.0869 will target 1.0897 resistance next. Break there will confirm trend reversal. Nonetheless, break of 1.0781 will bring deeper fall back towards 1.0652 support instead.

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 1.0823 resistance will affirm this bullish case. Further break of 1.0999 will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0652 support holds.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0522; (P) 1.0592; (R1) 1.0674; More

EUR/CHF’s strong rebound and break of 1.0611 resistance completed a double bottom pattern (1.0503, 1.0504). Intraday bias is now back on the upside for stronger rebound to 1.0710 cluster resistance (38.2% retracement of 1.1059 to 1.0503 at 1.0715). Considering bullish convergence condition in daily MACD, sustained break of 1.0710/5 will carry larger bullish implications and target 61.8% retracement at 1.0847 and above. For now, risk will stay mildly on the upside as long as 1.0503 holds, in case of retreat.

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.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1630; (P) 1.1665; (R1) 1.1684; More…

Near term outlook in EUR/CHF stays bullish as long as 1.1584 support holds. Current medium term rise from 1.0629 would extend to 1.2 key level. However, considering bearish divergence condition in 4 hour MACD, firm break of 1.1584 will now indicate near term reversal and should bring pull back to 1.1355 support or below.

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 1.1142) and possibly below.

EUR/CHF Weekly Outlook

No change in EUR/CHF’s outlook as it stayed in consolidation below 1.1740 last week. Initial bias remains neutral this week first. After all, near term outlook remains bullish as long as 1.1630 support holds. Above 1.1740 will target a test on 1.1832 high. At this point, we’ll stay cautious strong resistance from there to bring another fall. Corrective pattern from 1.1832 might still have an attempt on 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372) before completion. On the downside, below 1.1630 minor support will target 1.1445 low again.

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) 1.0653; (P) 1.0668; (R1) 1.0699; More…

EUR/CHF recovered after forming a temporary low at 1.0635. Intraday bias is turned neutral for consolidation. But break of 1.0749 resistance is needed to confirm short term bottoming. Otherwise, outlook remains bearish and deeper fall is expected. Below 1.0635 will target 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.

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) 1.0806; (P) 1.0818; (R1) 1.0831; More

Intraday bias in EUR/CHF remains neutral for consolidation above 1.0782 temporary low. Upside of recovery should be limited by 1.0860 resistance to bring fall resumption. Below 1.0782 will target 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648. On the upside, above 1.0860 minor resistance will delay the bearish case and turn bias to the upside for 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 Daily Outlook

Daily Pivots: (S1) 1.1599; (P) 1.1619; (R1) 1.1647; More…

EUR/CHF is still bounded in range below 1.1721 and intraday bias remains neural. With 1.1541 support intact, outlook remains bullish for further rise. Decisive break of 1.1721 will resume the medium term tup trend and target 1.2 key level. On the downside, 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.

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 1.1142) and possibly below.

EUR/CHF Daily Outlook

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.

EUR/CHF Weekly Outlook

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.

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) 1.0836; (P) 1.0850; (R1) 1.0860; More…

No change in EUR/CHF’s outlook. Corrective fall from 1.0986 might extend. But downside downside should be contained by 1.0791/0872 support zone, probably around 55 day EMA (now at 1.0829). Rise from 1.0629 is expected to resume later. Above 1.0902 minor resistance will turn bias back to the upside for 1.0986/0999.

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 1.0999 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 Daily Outlook

Daily Pivots: (S1) 1.0789; (P) 1.0809; (R1) 1.0835; More

EUR/CHF recovered after dropping to 1.0782 and intraday bias is turned neutral first. Further decline is expected as long as 1.0860 resistance holds. Larger down trend should have just resumed. Break of 1.0782 will target 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648. On the upside, above 1.0860 minor resistance will delay the bearish case and turn bias to the upside for 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 1.1162 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 Daily Outlook

Daily Pivots: (S1) 1.0937; (P) 1.0954; (R1) 1.0967; More….

At this point, we’d continue to look for strong support around 1.0954 to complete the consolidation pattern from 1.1149. 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.