Daily Pivots: (S1) 1.1644; (P) 1.1668; (R1) 1.1711; More…

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. As noted before, persistent bearish divergence condition in 4 hour MACD and rising wedge like structure suggests that the cross is near to forming a top, if not formed. Hence, even in case of another rise, we’d expect limited upside potential. On the downside, sustained break of 1.1584 support will be a strong sign of trend reversal and should turn outlook bearish for 38.2% retracement of 1.0629 to 1.1736 at 1.1313.

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 1.1195 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 1.1195 is firmly taken out.

Daily Pivots: (S1) 0.9922; (P) 0.9945; (R1) 0.9965; More….

Intraday bias in EUR/CHF remains on the downside at this point. Fall from is seen as another falling leg inside the corrective pattern from 1.0095. Deeper decline would be seen back to 0.9844 support. But downside should be contained by 0.9832 to bring rebound. On the upside, above 0.9986 minor resistance will turn bias back to the upside for 1.0040 resistance instead.

In the bigger picture, with 0.9832 support intact, rise from 0.9407 (2022 low) is still expected to continue. Break of 1.0095 and sustained trading above 55 week EMA (now at 1.0021) will be a medium term bullish signal, and bring further rally to 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) 1.0111; (P) 1.0165; (R1) 1.0232; More….

Intraday bias in EUR/CHF stays on the downside at this point. Break of 1.0086 support will affirm that case that corrective rebound from 0.9970 has completed after failing 1.0505 long term resistance. Deeper fall would be seen to retest 0.9970 low next. 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.

Daily Pivots: (S1) 1.0703; (P) 1.0721; (R1) 1.0734; More….

EUR/CHF drops to as low as 1.0678 so far. Break of 1.0694 support confirms resumption of whole decline from 1.1149. Intraday bias stays on the downside for 61.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0655. Sustained break there will pave the way towards 100% projection at 1.0481. On the upside, break of 1.0750 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 1.1315; (P) 1.1359; (R1) 1.1404; More…

Intraday bias in EUR/CHF remains neutral at this point. On the upside, decisive break of 1.1452 resistance should confirm bullish reversal, after drawing strong support from 1.1154/98 zone. In that case, outlook will be turned bullish for 1.1713 resistance next. However, break of 1.1280 will argue that choppy recovery from 1.1178 has completed and bring retest of 1.1154/98 support 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.

Daily Pivots: (S1) 1.0728; (P) 1.0762; (R1) 1.0783; More….

Intraday bias in EUR/CHF remains neutral for the moment. With 1.0839 resistance intact, outlook remains bearish and further decline is expected. On the downside, firm break of 1.0694 will resume larger fall from 1.1149, to 138.2% projection of 1.1149 to 1.0863 from 1.0985 at 1.0590 next.

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 1.0859) holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 0.9578; (P) 0.9598; (R1) 0.9611; More…

EUR/CHF is losing some upside momentum but intraday bias stays on the upside for now. Current rise from 0.9252 should target 161.8% projection of 0.9252 to 0.9471 from 0.9304 at 0.9658 next. On the downside, below 0.9553 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

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) 1.1619; (P) 1.1662; (R1) 1.1687; More…

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. It’s close to topping, if not formed. This is supported by persistent bearish divergence condition in 4 hour MACD, and rising wedge like structure. On the downside, break of 1.1597 support will will be a strong sign of trend reversal and should turn outlook bearish for 38.2% retracement of 1.0629 to 1.1736 at 1.1313.

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.

Daily Pivots: (S1) 1.1056; (P) 1.1075; (R1) 1.1093; More…

EUR/CHF recovered ahead of 1.1056 support and intraday bias remains neutral. More consolidation could be seen. In case of another recovery, 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 stayed in consolidation above 1.0688 temporary last week and outlook is unchanged. Initial bias remains neutral this week first and further decline is expected with 1.0749 resistance intact. Current decline from 1.0877 is seen as the third leg of the corrective pattern from 1.0915. On the downside, break of 1.0688 will turn bias to the downside for 1.0602 support next. However, on the upside, firm break of 1.0749 will mix up the near term outlook, and turn bias back to the upside for stronger rebound.

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) 1.0443; (P) 1.0473; (R1) 1.0491; More….

Intraday bias in EUR/CHF remains neutral first, and further decline is expected with 1.0596 resistance intact. Break of 1.0446 will resume the down trend from 1.1149 to 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. Nevertheless, break of 1.0596 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

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) 1.0562; (P) 1.0578; (R1) 1.0603; More….

With 1.0678 resistance intact, further decline is expected in EUR/CHF. Current down trend from 1.1149 should target 100% projection of 1.1149 to 1.0694 from 1.0936 at 1.0481. On the upside, however, break of 1.0678 will indicate short term bottoming and bring stronger rebound.

In the bigger picture, current downside momentum argues that fall from 1.1149 is probably resuming the downside 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.

Daily Pivots: (S1) 1.1537; (P) 1.1571; (R1) 1.1622; More… .

Intraday bias in EUR/CHF remains on the upside for the moment. Current rally is expected to target 61.8% projection of 1.0830 to 1.1537 from 1.1355 at 1.1792 next. On the downside, below 1.1511 minor support will turn intraday bias neutral and bring consolidations first.

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.

Daily Pivots: (S1) 0.9695; (P) 0.9711; (R1) 0.9732; More…

No change in EUR/CHF’s outlook and intraday bias stays neutral. On the upside, firm break of 0.9721 resistance will argue that correction from 0.9847 has completed already, and turn intraday bias back to the upside for retesting 0.9847. However, break of 0.9563 will bring deeper fall to 61.8% retracement of 0.9252 to 0.9847 at 0.9479.

In the bigger picture, while 55 D EMA (now at 0.9644) was breached, EUR/CHF rebounded strongly since then. Rise from 0.9252 medium term bottom should still be in progress. Break of 0.9847 will target 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even as a correction to the down trend from 1.2004. however, sustained trading below 55 D EMA will argue that the rebound has completed.

Daily Pivots: (S1) 1.0773; (P) 1.0806; (R1) 1.0827; More….

The break of 1.0818 support dampened our bullish view. Intraday bias in EUR/CHF is turned back to the downside for 1.0735 support. Break there will extend the sideway pattern from 1.0915 with another falling leg. On the upside, though, break of 1.8920 resistance will target 1.0915 instead.

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) 0.9841; (P) 0.9873; (R1) 0.9905; More….

EUR/CHF is still extending the consolidation pattern from 0.9953 and intraday bias remains neutral. 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 1.0053) taken out. That would be an initial sign of long term bullish reversal.

EUR/CHF rebounded further to 0.9797 last week but retreated since then. Initial bias is turned neutral this week for consolidations. But further rally is expected as long as 0.9708 minor support holds. Break of 0.9797 will target a retest on 0.9847 high. However, break of 0.9708 will turn bias to the downside, to extend the corrective pattern form 0.9847 with another falling leg.

In the bigger picture, while 55 D EMA (now at 0.9644) was breached, EUR/CHF rebounded strongly since then. Rise from 0.9252 medium term bottom should still be in progress. Break of 0.9847 will target 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even as a correction to the down trend from 1.2004. However, sustained trading below 55 D EMA will argue that the rebound has completed.

In the long term picture, fall from 1.2004 (2018 high) is part of the multi-decade down trend. Firm break of 1.0095 resistance is needed to be the first sign of long term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 1.0383; (P) 1.0398; (R1) 1.0407; More….

Range trading continues in EUR/CHF and intraday bias remains neutral for the moment. Outlook stays bearish with 1.0511 resistance intact and further decline is expected. On the downside, break of 1.0365 will resume larger down trend from 1.1149 to 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next.

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’s rebound last week suggests that pull back from 0.9471 has completed at 0.9304 already. Initial bias remains on the upside this week for 0.9471. Firm break there will resume whole rebound from 0.9252 to 100% projection of 0.9252 to 0.9471 from 0.9304 at 0.9523. On the downside, below 0.9395 minor support will turn intraday bias neutral first.

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

In the long term picture, fall from 1.2004 (2018 high) is part of the multi-decade down trend. Firm break of 1.0095 resistance is needed to be the first sign of long term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 0.9846; (P) 0.9862; (R1) 0.9877; More….

No change in EUR/CHF’s outlook as fall from 1.0067 could extend lower. But downside should be contained by 38.2% retracement of 0.9407 to 1.0095 at 0.9832 to complete the corrective pattern from 1.0095. On the upside, break of 0.9905 minor resistance will turn bias back to the upside for 1.0067/95 resistance zone. However, sustained break of 0.9832 will carry larger bearish implications.

In the bigger picture, the rejection by 55 week EMA (now at 1.0025) 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.