Daily Pivots: (S1) 1.0364; (P) 1.0413; (R1) 1.0487; More….

EUR/CHF rebounded strongly after hitting 1.0336 and intraday bias is turned neutral first. Corrective pattern from 1.0298 might be extending with another leg. But even in case of stronger rise, up side should be limited by 38.2% retracement of 1.1149 to 1.0298 at 1.0623. On the downside, below 1.0336 will target 1.0298 low first. Firm break there will confirm larger down trend resumption.

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 1.0667) will argue that the down trend is over, and bring stronger rise back to 1.1149 next.

Daily Pivots: (S1) 0.9699; (P) 0.9710; (R1) 0.9720; More…

Intraday bias in EUR/CHF is turned neutral with current recovery. On the upside, firm break of 0.9760 resistance will confirm short term bottoming, just ahead of 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Intraday bias will be back on the upside for 0.9878 resistance next. However, sustained break of 0.9670 will pave the way back to 0.9407 low.

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 0.9963). 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).

EUR/CHF’s decline last week indicates short term topping at 0.9847, on bearish divergence condition in 4H MACD. Initial bias is mildly on the downside for 38.2% retracement of 0.9252 to 0.9847 at 0.9620. But strong support is expected from there to contain downside to bring rebound, and set the range for sideway trading. Nevertheless, for now, risk will stay on the downside as long as 0.9847 resistance holds, in case of recovery.

In the bigger picture, a medium term bottom should be in place at 0.9252 already, on bullish convergence condition in W MACD. Rise from there now 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. This will remain the favored case as long as 55 D EMA (now at 0.9633) 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) 1.0903; (P) 1.0924; (R1) 1.0960; More…

Stronger recovery could be seen in EUR/CHF but outlook is unchanged. Price actions from 1.0811 are seen as a consolidation pattern, that’s extending. We’d still expect strong resistance from 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to limit upside. On the downside, break of 1.0863 will target 1.0811 low.

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) 1.0714; (P) 1.0731; (R1) 1.0750; More…

EUR/CHF’s break of 1.0797 resistance suggests resumption of rise from 1.0602. Intraday bias is back on the upside for 1.0915 resistance. Break there will resume whole rally from 1.0503 and target 100% projection of 1.0503 to 1.0915 from 1.0602 at 1.1014 next. On the downside, break of 1.0712 support is needed to signal completion of the rise. Otherwise, further rise will remain in favor as in case of retreat.

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 broke through 0.9670 last week to resume the whole decline from 1.0095. But a temporary low was formed at 0.9606 with subsequent recovery. Initial bias is turned neutral this week first. Some consolidations could be seen, but outlook will stay bearish as long as 0.9721 support turned resistance holds. Below 0.9606 will target 100% projection of 0.9995 to 0.9670 from 0.9840 at 0.9515.

In the bigger picture, medium term outlook is staying bearish as the pair is capped below falling 55 W EMA (now at 0.9913). Down trend form 1.2004 (2018 high) is in favor to extend through 0.9407 at a later stage. Nevertheless, decisive break of 38.2% retracement of 1.1149 to 0.9407 will raise the chance of bullish trend reversal.

In the long term picture, it’s still way too early too call for bullish trend reversal with upside capped well below 55 M EMA (now at 1.0459) and 1.0505 support turned resistance (2020 low). The multi-decade down trend could still continue.

EUR/CHF edged higher to 0.9630 last week but turned sideway since then. Initial bias remains neutral this week first. As long as 0.9510 support holds, further rally is still expected. On the upside, break of 0.9630 will resume the rise from 0.9252 and target 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 0.9620) 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.

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) 1.1042; (P) 1.1059; (R1) 1.1069; More….

EUR/CHF is still staying in consolidation from 1.1149 and intraday bias remains neutral first. 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.

Daily Pivots: (S1) 0.9711; (P) 0.9745; (R1) 0.9774; More….

EUR/CHF recovered after brief breach of 38.2% retracement of 0.8407 to 0.9953. Intraday bias is turned neutral first. On the downside, break of 0.9720 will extend the fall from 0.9953 to 61.8% retracement at 0.9616, and possibly below. On the upside, however, break of 0.9818 resistance will turn bias back to the upside for retesting 0.9953 instead.

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. That is, down trend resumption through 0.9407 is 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) 1.0707; (P) 1.0719; (R1) 1.0735; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.0688 temporary low is extending. 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) 0.9718; (P) 0.9740; (R1) 0.9768; More…

EUR/CHF is still capped below 0.9760 minor resistance and intraday bias remains neutral. On the upside, firm break of 1.0009 should confirm short term bottoming after hitting 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Intraday bias will be back on 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).

Daily Pivots: (S1) 1.1481; (P) 1.1528; (R1) 1.1570; More….

The break of 1.1505 minor support argues that rebound from 1.1366 might be completed at 1.1656 already. Intraday bias is mildly on the downside for retesting 1.1366 first. Break there will resume the corrective fall from 1.2004. On the upside, though, above 1.1585 will likely extend the rebound from 1.1366 through 1.1656. But in that case, upside should be limited by 61.8% retracement of 1.2004 to 1.1366 at 1.1760.

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. Such correction is expected to extend for a while and therefore, we’re not anticipating a break of 1.2004 in near term. Another decline cannot be ruled out yet. But in that case, strong support should be seen at 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to contain downside.

Daily Pivots: (S1) 1.0677; (P) 1.0690; (R1) 1.0705; More…

Intraday bias in EUR/CHF remains neutral as consolidation form 1.0661 might extend further. Still, as long as 1.0747 resistance holds, further decline is expected. Fall from 1.0877 is seen as the third leg of the pattern from 1.0915. Break of 1.0661 will target 1.0602 support next. However, firm break of 1.0747 should confirm short term bottoming, on bullish convergence condition in 4 hour MACD, and turn intraday bias back to the upside for 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) 1.0911; (P) 1.0935; (R1) 1.0948; More…

EUR/CHF is staying in consolidative trading below 1.0987 short term top and outlook is unchanged. Intraday bias stays neutral first. Pull back from 1.0986 might go deeper. But downside should be contained by 1.0791/0872 support zone to bring rise resumption. We’re holding on to the bullish view that corrective pattern from 1.1198 has completed already after defending 1.0653 fibonacci level. 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) 0.9724; (P) 0.9746; (R1) 0.9762; More…

Intraday bias in EUR/CHF remains on the downside at this point. Fall from 0.9835 is seen as the third leg of the corrective pattern from 0.9847, and should target 0.9563 support. For now, risk will stay on the downside as long as 0.9835 resistance holds, in case of recovery.

In the bigger picture, as long as 0.9563 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Break of 0.9847 resistance 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.

Daily Pivots: (S1) 1.0781; (P) 1.0803; (R1) 1.0824; More…

Intraday bias in EUR/CHF is turned neutral with a temporary top is formed at 1.0824. We’re favoring the case that consolidation pattern from 1.0915 has completed with three waves to 1.0661. Break of 1.0824 will target 1.0877 resistance for confirmation. Firm break there will resume whole rebound from 1.0503. However, below 1.0772 minor support will dampen the bullish case, and turn bias back to the downside for 1.0661 support 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) 1.1423; (P) 1.1473; (R1) 1.1562; More…

EUR/CHF’s really resumed after brief retreat and reaches as high as 1.1523 so far. 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498 is already met but there is no clear sign of topping yet. Intraday bias is back on the upside and firm break of 1.1498 will target 261.8% projection at 1.1704 next. Nonetheless, considering bearish divergence condition in 4 hour MACD, break of 11385 support will indicate short term topping and bring lengthier consolidation first.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head 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) 1.1221; (P) 1.1239; (R1) 1.1267; More…

Despite yesterday’s recovery, EUR/CHF fails to sustain above 1.1256 minor resistance so far, intraday bias remains neutral first. As long as 1.1256 minor resistance holds, near term outlook remains bearish and further decline is expected. On the downside, decisive break of 1.1154 key fibonacci level will confirm resumption of whole downtrend from 1.2004. That should then pave the way to 61.8% projection of 1.2004 to 1.1173 from 1.1444 at 1.0930. However, break of 1.1256 will indicate short term bottoming and turn bias back to the upside for 1.1310 support turned resistance first.

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 stayed in sideway consolidation from 1.0365 last week and outlook is unchanged. Initial bias remains neutral this week first. But further decline is expected as long as 1.0511 resistance holds. 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.

In the long term picture, rejection by 55 month EMA (now at 1.1015) maintains long term bearishness. Down trend from 1.2004 is now in progress for 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. Firm break there will target 100% projection at 0.9650.