Daily Pivots: (S1) 1.1391; (P) 1.1407; (R1) 1.1428; More…

EUR/CHF is staying in consolidation from 1.1429 temporary top. Intraday bias remains neutral first. In case of another fall, downside should be contained by 1.1347 resistance turned support to bring another rally. On the upside, break of 1.1429 will extend the rise from 1.1181 to retest 1.1501 key resistance next.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1154/98 support zone to complete it and bring rebound. Decisive break of 1.1501 (38.2% retracement of 1.2004 to 1.1173 at 1.1490) will confirm completion of the correction, on bullish convergence condition in daily MACD, with double bottom pattern (1.1173, 1.1181) Further rise should be seen to 61.8% retracement at 1.1687 and above next.

EUR/CHF edged higher to 1.1832 last week but pulled back deeply. But still, downside was held above 1.1683 near term support. Thus, outlook stays bullish for further rally. Again, considering relatively weak upside momentum, in case of another rise, we’d expect strong resistance below 1.2 handle to bring medium term reversal. Break of 1.1683 support will be a early sign of reversal and turn focus to 1.1602 support.

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 further rise to prior SNB imposed floor at 1.2000 and above. Though, we’ll reassess the outlook if 1.1198 is firmly taken out.

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) 1.0972; (P) 1.1001; (R1) 1.1021; More…

Intraday bias in EUR/CHF remains neutral for sideway trading below 1.1059. Outlook is unchanged too. We’d continue to expect strong resistance from 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to limit upside to complete the consolidation pattern from 1.0811. 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) 1.0804; (P) 1.0834; (R1) 1.0850; More….

Intraday bias in EUR/CHF remains neutral at this point and some more sideway consolidation could be seen. On the upside, break of 1.8920 resistance will target 1.0915. On the downside, below 1.0787 will target 1.0737 support first. Break there will extend the sideway pattern from 1.0915 with another falling leg, towards 1.0661 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.

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.

Daily Pivots: (S1) 0.9846; (P) 0.9884; (R1) 0.9916; More….

EUR/CHF is staying in consolidation from 0.9953 and intraday bias remains neutral. In case of deeper retreat, downside should be contained by 0.9798 support to bring rebound. On the upside, 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, 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 1.0128) will reveal whether the trend is reversing.

Daily Pivots: (S1) 0.9931; (P) 0.9948; (R1) 0.9982; More….

EUR/CHF’s rebound from 0.9844 is still in progress and intraday bias stays on the upside. As noted before, corrective pattern from 1.0095 should have completed with three waves down to 0.9844. Sustained break of the falling rend line resistance (now at 0.9974) will add to this bullish cas and bring retest of 1.0095 high. On the downside, below 0.9923 minor support will mix up the outlook and turn intraday bias neutral first.

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) 0.9575; (P) 0.9589; (R1) 0.9602; More…

EUR/CHF’s consolidation continues below 0.9630 temporary top and intraday bias remains neutral. 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.

EUR/CHF’s recovery was limited at 1.0653 last week and reversed. But it’s held above 1.0523 low so far. Initial bias remains neutral this week first, and consolidation from 1.0523 could extend further. But in any case, outlook will remain bearish as long as 1.0710 resistance holds. 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) 1.0591; (P) 1.0621; (R1) 1.0657; More…

EUR/CHF is staying in range below 1.0662 temporary top and intraday bias remains neutral first. Further rise remains in favor as long as 1.0578 minor support holds. Above 1.0662 will turn bias back to the upside for 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. However, break of 1.0578 minor support will turn focus back to 1.0503 low.

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.

Daily Pivots: (S1) 1.1376; (P) 1.1398; (R1) 1.1426; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1343 is extending. As long as 1.1429 resistance holds, another fall is expected. As noted before, corrective rise from 1.1173 could have completed at 1.1501 already. Below 1.1343 will target 1.1154/98 key support zone again. At this point, we’d still expect this key support zone to hold. On the upside, above 1.1429 minor resistance will turn focus back to 1.1501 first. But still, break there is needed to confirm rally resumption. Otherwise, risk will stay on the downside even in case of strong 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 1.1243) 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.

Daily Pivots: (S1) 1.0430; (P) 1.0468; (R1) 1.0498; More….

EUR/CHF retreated sharply after hitting 1.0510 and intraday bias is turned neutral first. Corrective rebound from 1.0342 could extend higher. But strong resistance should be seen from 38.2% retracement of 1.0936 to 1.0324 at 1.0558 to limit upside. On the downside, below 1.0423 minor support will turn bias back to the downside for retesting 1.0324 low.

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.

EUR/CHF rebounded again after dipping to 0.9670, but failed to break through 0.9760 resistance. Initial bias remains neutral this week first. On the upside, firm break of 0.9760 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 extend the whole decline from 1.0095 towards 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 0.9938). 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).

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) 1.0560; (P) 1.0582; (R1) 1.0613; More…

EUR/CHF is staying in range above 1.0523 and intraday bias remains neutral first. 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) 1.1222; (P) 1.1244; (R1) 1.1262; More…

EUR/CHF is staying in range above 1.1181 temporary low and intraday bias remains neutral first. Deeper fall could still be seen. But again, we’d expect strong support from 1.1154/98 support zone to contain downside to bring reversal. On the upside, above 1.1348 resistance will turn bias to the upside for retesting 1.1501 resistance first. However, Sustained break of 1.1154/98 will carry larger bearish implications and extend the whole decline from 1.2004 high.

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.

Daily Pivots: (S1) 1.1118; (P) 1.1133; (R1) 1.1161; More…

Intraday bias in EUR/CHF remains neutral for the moment as consolidation from 1.1056 is extending. 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.

Daily Pivots: (S1) 1.0761; (P) 1.0775; (R1) 1.0804; More…

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. As long as 1.0712 support holds, we’d still expect rise from 1.0602 to resume sooner or later. On the upside, break of 1.0849 will target 1.0915 resistance. However, firm break of 1.0712 will indicate completion of the rebound from 1.0602. Intraday bias will be turned back to the downside to retest this low.

In the bigger picture, we’re seeing price actions from 1.0503 as forming a consolidation pattern for the moment. As long as 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) holds, down 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) 1.1372; (P) 1.1400; (R1) 1.1416; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1476 is extending. On the upside, sustained break of 38.2% retracement of 1.2004 to 1.1162 at 1.1484 will confirm completion of corrective fall from 1.2004. Further rally should then be seen to 61.8% retracement at 1.1682 and above. On the downside, sustained break of 55 day EMA (now at 1.1337) will pave the way back to 1.1162 low.

In the bigger picture, at this point, we’re slight favoring the case that corrective fall from 1.2004 has completed 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. And, firm break of 1.1154 is needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.

EUR/CHF stayed in consolidation from 1.0523 last week and outlook remains unchanged. Consolidation might extend and another rise cannot be ruled out. But upside outlook will remain bearish as long as 1.0710 resistance holds. On the downside, 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.