Daily Pivots: (S1) 0.9764; (P) 0.9781; (R1) 0.9801; More….

EUR/CHF is staying in consolidation above 0.9697 temporary low. Intraday bias stays neutral first. While further fall cannot be ruled out, some support might be seen from 0.9650 long term projection level to bring rebound. Break of 0.9948 resistance will indicate short term bottoming. Nevertheless, firm break of 0.9650 will target 100% projection of 1.1149 to 0.9970 from 1.0513 at 0.9334.

In the bigger picture, long term down trend from 1.2004 (2018 high) is expected to target 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. Firm break there will target 138.2% projection at 0.9033. On the upside, break of 1.0513 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.

Daily Pivots: (S1) 0.9591; (P) 0.9611; (R1) 0.9634; More…

Intraday bias in EUR/CHF is turned neutral with current retreat and some consolidations would be seen. But further rally is expected as long as 0.9510 support holds. Above 0.9630 will resume the rebound from 0.9252 to 161.8% projection of 0.9252 to 0.9471 from 0.9304 at 0.9658 next. However, considering bearish divergence condition in 4H MACD, firm break of 0.9510 will turn bias back to the downside for deeper fall.

In the bigger picture, as long as 0.9683 resistance holds, rebound from 0.9252 are seen as a corrective move only. Larger down trend is expected to resume through 0.9252 after the correction completes. However, firm break of 0.9683 and sustained trading above 55 W EMA (now at 0.9622) will argue that 0.9252 is already a medium term bottom. Stronger rise would then be seen 61.8% retracement of 1.0095 to 0.9252 at 0.9773 and above.

Daily Pivots: (S1) 1.0742; (P) 1.0776; (R1) 1.0813; More…

Intraday bias in EUR/CHF remains neutral and more sideway consolidation could be seen. On the upside, break of 1.0838 will target 1.0915 high. Firm break there will resume whole rise from 1.0503 to 100% projection of 1.0503 to 1.0915 from 1.0602 at 1.1014 next. However, break of 1.0712 support will dampen this bullish view. Intraday bias will be turned back to the downside for 1.0602, to extend the corrective pattern from 1.0915 instead.

In the bigger picture, as long as 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) holds, price actions from 1.0503 are seen as a consolidation pattern. That is, 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 stayed in range below 0.9995 last week but with 0.9837 minor support intact, near term outlook stays cautiously bullish. Initial bias remains neutral this week first. Correction from 1.0095 could have completed at 0.9704 already. Break of 0.9995 will affirm this bullish case and target a retest on 1.0095 high. However, break of 0.9837 will dampen this bullish view and turn bias back to the downside for 0.9704 support instead.

In the bigger picture, prior rejection by 55 week EMA (now at 1.1002) and 38.2% retracement of 1.1149 to 0.9407 at 1.0072 suggests that medium term outlook is staying bearish. That is, down trend from 1.2004 is not completed yet and is in favor to resume through 0.9407 at a later stage. However, decisive break of 1.0095 resistance 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).

In the long term picture, it’s still way too early too call for bullish trend reversal with upside capped well below 55 month EMA and 1.0505 support turned resistance (2020 low). The multi-decade down trend could still continue.

Daily Pivots: (S1) 1.0561; (P) 1.0585; (R1) 1.0613; More…

EUR/CHF is staying in consolidation from 1.0523 and intraday bias remains neutral. 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.

Daily Pivots: (S1) 1.1510; (P) 1.1538; (R1) 1.1570; More….

EUR/CHF’s corrective pattern from 1.1366 is extending and further rise cannot be ruled out. But upside should be limited by 38.2% retracement of 1.2004 to 1.1366 at 1.1610 to bring fall resumption. On the downside, below 1.1462 minor support will bring retest of 1.1366 first. Break will resume decline from 1.2004 and target t next key support zone between 1.1154 and 1.1198.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily and weekly MACD, 1.2004 should be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Deeper fall would be seen to key cluster level at 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154. We’d expect strong support around there to contain downside and bring rebound.

Daily Pivots: (S1) 1.0423; (P) 1.0469; (R1) 1.0499; More….

Immediate focus is now on 1.0439 support in EUR/CHF. Firm break there should confirm that rebound from 1.0298 has completed, ahead of 38.2% retracement of 1.1149 to 1.0298 at 1.0623. Deeper fall will then be seen back to retest 1.0298 low. On the upside, break of 1.0527 minor resistance will clear near term downside risk and bring stronger rebound back to 1.0623 fibonacci resistance instead.

In the bigger picture, a medium term bottom was formed at 1.0298 on bullish convergence condition in daily MACD. Rebound from there is still tentatively viewed part of a corrective pattern. That is, larger down trend from 1.2004 (2018) could still extend through 1.0298 to 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. However, sustained trading above 55 week EMA (now at 1.0673) will argue that the down trend is over, and bring stronger rise back to 1.1149 next.

Daily Pivots: (S1) 1.0762; (P) 1.0778; (R1) 1.0793; More…

EUR/CHF is staying in consolidation below 1.0838 and intraday bias remains neutral first. Further rise is expected with 1.0712 intact. On the upside, break of 1.0838 will target 1.0915 high. Firm break there will resume whole rise from 1.0503 to 100% projection of 1.0503 to 1.0915 from 1.0602 at 1.1014 next. However, break of 1.0712 support will dampen this bullish view. Intraday bias will be turned back to the downside for 1.0602, to extend the corrective pattern from 1.0915 instead.

In the bigger picture, as long as 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) holds, price actions from 1.0503 are seen as a consolidation pattern. That is, 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) 1.0715; (P) 1.0734; (R1) 1.0747; More….

Intraday bias in EUR/CHF remains on the downside at this point. Current fall from 1.1149 would target a retest on 1.0505 low. On the upside, 1.0802 support turned resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, rebound from 1.0505 (2020 low) should have completed at 1.1149 already. The three wave corrective structure argues that the downtrend from 1.2004 (2018 high) is not over yet. Medium term outlook will now stay bearish as long as 1.1149 resistance holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 1.0946; (P) 1.0961; (R1) 1.0990; More….

Range trading continues in EUR/CHF and outlook is unchanged. Intraday bias remains neutral first. With 1.0915 cluster support (38.2% retracement 1.0505 to 1.1149 at 1.0903) intact, we’re still seeing price actions from 1.1149 as a consolidation pattern. On the upside, break of 1.1026 resistance would argue that larger up trend is ready to resume and bring retest of 1.1149 first. However, on the downside, sustained break of 1.0903/15 will suggest bearish reversal, or at least bring deeper fall to next cluster support zone at 1.0737 support zone (61.8% retracement at 1.0751).

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,. Rejection by 55 month EMA would also keep long term outlook bearish.

Daily Pivots: (S1) 1.1015; (P) 1.1029; (R1) 1.1049; More….

No change in EUR/CHF’s as consolidation from 1.1149 is extending. Intraday bias stays neutral first. Deeper fall cannot be ruled out, but we’d expect strong support from 1.0954 to bring rebound, and then rally resumption. On the upside, break of 1.1116 will argue that larger rise from 1.0504 is ready to resume through 1.1149 high.

In the bigger picture, whole down trend from 1.2004 (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.

Daily Pivots: (S1) 1.0718; (P) 1.0740; (R1) 1.0764; More…

Intraday bias in EUR/CHF remains neutral at this point. On the upside, break of 1.0823 resistance will re-affirm the case of trend reversal. And intraday bias will be turned back tot he upside for 1.0897 resistance for confirmation. However, break of 1.0683 minor support will turn bias to the downside for 1.0620 key support level again.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Decisive break of 1.0897 resistance should confirm that it’s completed. And in that case, larger up trend is resuming for another high above 1.1198. Meanwhile, sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485.

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.

Daily Pivots: (S1) 1.1315; (P) 1.1330; (R1) 1.1351; More…

EUR/CHF surges to as high as 1.3918 as rebound from 1.1181 extends. The break of 1.1348 resistance confirms our bullish view that fall from 1.1501 has completed. Intraday bias is back on the upside for retesting 1.1501 resistance next. On the downside, break of 1.1259 support is needed to confirm completion of the rebound. Otherwise, further rise is expected in case of retreat.

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 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) 1.0710; (P) 1.0751; (R1) 1.0775; More…

EUR/CHF’s break of 1.0744 minor support suggests that rebound from 1.0503 has completed earlier than expected at 1.0915. Intraday bias is now back on the downside for 55 day EMA (now at 1.0640). Sustained break there will bring retest of 1.0503 low. On the upside, though, above 1.0799 minor resistance will turn bias to the upside for retesting 1.0915 instead.

In the bigger picture, the strong break of 1.0811 key support turned resistance suggests that whole down trend from 1.2004 (2018 high) has completed at 1.0503. Rise from 1.0503 could either be correcting the down trend from 1.2004. Or it could be starting a new up trend. Focus is now on 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076). Decisive break there will pave the way to 61.8% retracement at 1.1431 and above. Though, rejection by 1.1059/76 will revive medium term bearishness.

Daily Pivots: (S1) 1.1261; (P) 1.1293; (R1) 1.1310; More…

EUR/CHF’s decline from 1.1501 turns out to be deeper than expected. The break of 61.8% retracement of 1.1173 to 1.1501 at 1.1298 argue that whole rebound from 1.1173 might have completed already. Intraday bias is back on the downside for retesting 1.1173 low. On the upside, break of 1.1356 resistance is now needed to indicate short term bottoming. Otherwise, outlook will be mildly bearish even in case of recovery.

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 1.1240) 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.

Daily Pivots: (S1) 1.1016; (P) 1.1041; (R1) 1.1058; More….

Range trading continues in EUR/CHF and intraday bias remains neutral first. Deeper fall could be seen, but downside should be contained by 1.0954 support to bring rally resumption. 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, whole down trend from 1.2004 (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.

EUR/CHF rebounded strongly last week and hit as high as 1.0839, but retreated sharply since then. Initial bias remains neutral this week first. Another rise is mildly in favor as long as 1.0788 minor support holds. Above 1.0839 will resume the rebound from 1.0715 short term bottom to 38.2% retracement of 1.1149 to 1.0715 at 1.0881. We’d monitor the reaction to 1.0881 to assess the chance of bullish reversal. On the downside, break of 1.0788 minor support will turn bias back to the downside for retesting 1.0715 low instead.

In the bigger picture, rebound from 1.0505 (2020 low) should have completed at 1.1149 already. The three-wave corrective structure argues that the downtrend from 1.2004 (2018 high) is not over yet. Medium term outlook will now stay bearish as long as 55 week EMA (now at 1.0869) holds. Break of 1.0505 low would be seen at a later stage.

In the long term picture, rejection by 55 month EMA (now at 1.1058) retains long term bearishness. Break of 1.0505 low will resume down trend to 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223.

Daily Pivots: (S1) 0.9689; (P) 0.9707; (R1) 0.9742; More…

Intraday bias in EUR/CHF remains neutral first. Strong support is still expected around 61.8% retracement of 0.9407 to 1.0095 at 0.9670 to complete the whole corrective pattern from 1.0095. On the upside, firm break of 0.9760 resistance will confirm short term bottoming, and turn bias back to the upside for 0.9878 resistance next. However, sustained break of 0.9670 will pave the way back to 0.9407 low instead.

In the bigger picture, prior rejection by 38.2% retracement of 1.1149 to 0.9407 at 1.0072 suggests that medium term outlook is staying bearish. The pair is also capped below 55 W EMA (now at 0.9945). Down trend from 1.2004 (2018 high) is not completed yet and is in favor to resume through 0.9407 at a later stage. However, decisive break of 1.0095 resistance 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).