Daily Pivots: (S1) 1.0253; (P) 1.0319; (R1) 1.0386; More….

Intraday bias in EUR/CHF remains neutral first. on the upside, break of 1.0400 will resume the rebound from 0.9977 to 1.0610 key structural resistance next. On the downside, however, break of 1.0184 will turn bias back to the downside for retesting 0.9970 low.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. In any case, sustained break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

EUR/CHF’s corrective recovery from 1.1162 extended higher last week. Initial bias stays neutral first and more consolidative could be seen. But after all, 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.

In the long term picture, the current development argues that long term up trend has completed at 1.2004 after rejection of 1.2 key resistance. Sustained break of 1.1198 support will confirm this bearish case and target 1.0629 and below.

Daily Pivots: (S1) 1.1381; (P) 1.1416; (R1) 1.1472; More…

Intraday bias in EUR/CHF remains neural as consolidation from 1.1537 might extend. On the upside, break of 1.1477 resistance will argue that the consolidation from 1.1537 has completed and larger rise is resuming. Further break of 1.1537 will confirm and target 1.2 key resistance level next. On the downside, however, firm break of 38.2% retracement of 1.0830 to 1.1537 at 1.1267 will extend the correction to 61.8% retracement at 1.1100 before completion.

In the bigger picture, firm 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) 1.1203; (P) 1.1229; (R1) 1.1249; More….

Intraday bias in EUR/CHF remains neutral for the moment. In case of another fall through 1.1195, we’d still expect strong support above 1.1162 to bring rebound. Considering bullish convergence condition in 4 hour MACD, break of 1.1292 resistance should confirm short term bottoming. Further rise should then be seen back to retest 1.1476 resistance. Nevertheless, sustained break of 1.1162 could carry larger bearish implication and turn outlook bearish.

In the bigger picture, at this point, we’re slightly favoring the case that corrective fall from 1.2004 has completed at 1.1162 after being supported by 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Decisive break of 1.1501 resistance should confirm and target 1.1713 resistance next. On the downside, sustained break of 1.1154 will confirm resumption of decline from 1.2004 and target 1.0629 support next.

Daily Pivots: (S1) 1.0464; (P) 1.0507; (R1) 1.0531; More….

EUR/CHF’s recovery was very brief and range trading continues. Intraday bias remains neutral first. On the upside, sustained break of 38.2% retracement of 1.1149 to 1.0298 at 1.0623 will add to the case of bullish trend reversal. On the downside, however, firm break of 1.0439 should confirm rejection by 1.0623 fibonacci resistance, and bring retest of 1.0298 low 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) 1.1593; (P) 1.1612; (R1) 1.1629; More…

With 1.1653 minor resistance intact, further decline is expected in EUR/CHF for 1.1478 support. We’re holding on to the view that corrective rebound from 1.1366 has completed with three waves up to 1.1713 already. Break of 1.1478 will resume the whole decline from 1.2004 through 1.1366 low. On the upside, above 1.1653 minor resistance will bring another rise. But in that case, we’d expect strong resistance from 61.8% retracement of 1.2004 to 1.1366 at 1.1760 to bring near term reversal.

In the bigger picture, 1.2004 is seen as a medium term top with bearish divergence condition in daily and weekly MACD. 1.2000 is also an important resistance level. Hence, the corrective pattern from 1.2004 is expected to extend for a while before completion. 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) 1.0430; (P) 1.0461; (R1) 1.0494; More….

Intraday bias in EUR/CHF remains on the downside for the moment. Current down trend should target 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. On the upside, though, break of 1.0511 resistance will now indicate short term bottoming, and turn bias back to the upside for stronger rebound.

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.

Daily Pivots: (S1) 1.0637; (P) 1.0674; (R1) 1.0717; More…

EUR/CHF is staying in consolidation from 1.0584 and intraday bias remains neutral. With 1.0737 resistance intact, outlook remains bearish and further decline is expected. Break of 1.0584 will extend recent down trend to 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. However, firm break of 1.0737 will indicate short term bottoming and bring stronger rebound.

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) 1.0178; (P) 1.0220; (R1) 1.0281; More….

Intraday bias remains on the downside at this point. Sustained break of 61.8% projection of 1.0936 to 1.0298 from 1.0610 at 1.0216 will pave the way to 100% projection at 0.9972. On the upside, break of 1.0336 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Firm break of 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223 will pave the way to 100% projection at 0.9650. In any case, break of 1.0610 resistance is needed to be the first sign of bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 1.0364; (P) 1.0379; (R1) 1.0389; More….

Breach of 1.0365 suggests resumption of down trend from 1.1149. Intraday bias in EUR/CHF is back on the downside for 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. On the upside, however, break of 1.0432 minor resistance will indicate short term bottoming, and turn bias back to the upside for 1.0465 resistance and above.

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 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of rebound.

Daily Pivots: (S1) 0.9938; (P) 0.9963; (R1) 0.9979; More….

EUR/CHF’s break of 4 hour 55 EMA suggests that rebound from 0.9844 has completed at 1.0040. Corrective pattern from 1.0095 is extending with another falling leg. Intraday bias is back on the downside for 0.9844 support. But downside should be contained by 0.9832 to bring rebound. On the upside, above 1.0040 will bring retest of 1.0095 high.

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.

EUR/CHF’s fall from 1.1476 extended to as low as 1.1195 last week. There is no sign of bottoming yet and further decline is in favor this week towards 1.1162 key support. For now, we’d still expect strong support above 1.1162 to bring rebound. On the upside, break of 1.1292 minor resistance will turn bias back to the upside. However, sustained break of 1.1162 could carry larger bearish implication and turn outlook bearish.

In the bigger picture, at this point, we’re slightly favoring the case that corrective fall from 1.2004 has completed at 1.1162 after being supported by 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Decisive break of 1.1501 resistance should confirm and target 1.1713 resistance next. On the downside, sustained break of 1.1154 will confirm resumption of decline from 1.2004 and target 1.0629 support next.

In the long term picture, current development suggests that medium term fall from 1.2004 is merely a corrective move. That is, up trend from 0.9771 is not completed yet. Nevertheless, there is little prospect of up trend resumption yet. More range trading should be seen in medium term. However, firm break of 61.8% retracement of 1.0629 to 1.2004 at 1.1154 will argue that the long term trend has reversed. In this case, deeper decline could be seen back to 1.0629 support and below.

Daily Pivots: (S1) 0.9846; (P) 0.9900; (R1) 0.9928; More….

Intraday bias in EUR/CHF is turned neutral with current retreat and some more consolidations would be seen below 0.9953. But further rally is expected as long as 0.9798 resistance turned support holds. Break of 0.9953 will resume the rise from 0.9407 to 100% projection of 0.9407 to 0.9798 from 0.9641 at 1.0032.

In the bigger picture, considering bullish condition in daily MACD and the firm break of 55 day EMA, a medium term bottom should be in place at 0.9407. Further rally is expected as long as 0.9641 support holds, even as a corrective rebound. Next target 38.2% retracement of 1.1149 to 0.9407 at 1.0072. Reaction from there, as well as 55 week EMA (now at 1.0120) will reveal whether the trend is reversing.

EUR/CHF edged lower again last week with very weak downside momentum. Overall outlook remains unchanged. With 1.0710 resistance intact, further decline is expected. Current down trend should target 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.

EUR/CHF’s recovery was capped by 0.9953 minor resistance last week, but stayed above 0.9804 low. Initial bias remains neutral this week and further fall is expected. On the downside, break of 0.9804 will resume larger down trend. Next target is 0.9650 long term projection level. On the upside, however, break of 0.9953 minor resistance will suggest short term bottoming, and bring stronger rebound to 55 day EMA (now at 1.0097).

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. 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.

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 1.0808).

EUR/CHF stayed in range below 0.9840 last week despite some volatility. Intraday bias remains neutral this week first and outlook is mixed. On the upside break of 0.9840 will resume the choppy rebound from 0.9670. That will also revive the case that whole corrective decline form 1.0095 has completed at 0.9670. Further rally should be seen to 0.9878 resistance next. However, sustained trading below 0.9670 will resume the whole fall from 1.0095.

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 1.0484) and 1.0505 support turned resistance (2020 low). The multi-decade down trend could still continue.

Daily Pivots: (S1) 1.0959; (P) 1.0991; (R1) 1.1008; More….

EUR/CHF’s consolidation from 1.1149 is still extending and outlook is unchanged. Deeper decline cannot be ruled out, 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.

Daily Pivots: (S1) 0.9290; (P) 0.9306; (R1) 0.9332; More…

Intraday bias in EUR/CHF stays neutral as consolidation from 0.9252 is still extending. While another recovery cannot be ruled out, outlook will stay bearish as long as 0.9402 support turned resistance holds. On the downside, break of 0.9252 will resume larger down trend to 100% projection of 0.9995 to 0.9416 from 0.9683 at 0.9104 next.

In the bigger picture, medium term outlook remains bearish as long as 0.9683 resistance holds. Current fall from 1.2004 (2018 high) is part of the multi-decade down trend. Next target is 61.8% projection of 1.1149 (2020 high) to 0.9407 from 1.0095 at 0.9018.

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.

Daily Pivots: (S1) 1.1109; (P) 1.1123; (R1) 1.1138; More….

EUR/CHF is staying in consolidation from 1.1056 and intraday bias remains neutral for the moment. 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.