EUR/CHF’s fall from 1.0823 extended last week by taking out 1.0668 support and reached as low as 1.0658. The near term bearish outlook remains unchanged. That is, rebound from 1.0629 has completed at 1.0823. And, the larger decline from 1.1198 is likely resuming.

Initial bias in EUR/CHF remains on the downside this week for 1.0620/29 key support zone. Decisive break there will confirm resumption of whole fall from 1.1198. In that case, EUR/CHF should target next long term fibonacci level at 1.0485. On the upside, break of 1.0699 minor resistance will turn intraday bias neutral first. We’ll assess the outlook later in that case.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Current development suggests that it’s not completed yet. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. In any case, break of 1.0823 resistance is needed to be the first indication of reversal. Otherwise, deeper fall is still expected even in case of recovery.

Daily Pivots: (S1) 1.0720; (P) 1.0730; (R1) 1.0744; More…

Intraday bias in EUR/CHF remains neutral for the moment as it’s bounded in range of 1.0677/0762. Below 1.0677 will extend the corrective fall from 1.1198 and target 1.0620 key support level. On the upside, above 1.0762 will turn focus back to 1.0897 resistance. Decisive break there will suggest reversal and turn near term outlook bullish.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress and retest of 38.2% retracement of 0.9771 to 1.1198 at 1.0653 could be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. Meanwhile, break of 1.0897 resistance will argue that the larger up trend is finally resuming for above 1.1198.

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Daily Pivots: (S1) 1.0697; (P) 1.0727; (R1) 1.0745; More…

EUR/CHF is staying in consolidation above 1.0677 and intraday bias remains neutral. Above 1.0762 will extend the corrective rise from 1.0677. But overall, outlook will stay bearish as long as 1.0897 resistance holds. Corrective pattern from 1.1198 is still in progress and another fall is expected. Below 1.0677 will target key support level at 1.0620 next. Though, decisive break of 1.0897 resistance will suggest reversal and turn near term outlook bullish.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress and retest of 38.2% retracement of 0.9771 to 1.1198 at 1.0653 could be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. Meanwhile, break of 1.0897 resistance is needed to be the sign of completion of the correction. Otherwise, risk will stay on the downside in case of recovery.

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Daily Pivots: (S1) 1.1267; (P) 1.1283; (R1) 1.1298; More…

EUR/CHF is staying in consolidation above 1.1264 temporary low and intraday bias remains neutral first. On the downside, below 1.1264 will extend the corrective fall from 1.1476 towards 1.1162 key support. We’d expect strong support above there to bring rebound. On the upside, break of 1.1350 resistance will suggest that the pull back has completed. Intraday bias will be turned back to the upside for 1.1484 again.

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, firm break of 1.1154 is needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.

Daily Pivots: (S1) 0.9563; (P) 0.9578; (R1) 0.9607; More…

Range trading continues in EUR/CHF and intraday bias stays neutral. As long as 0.9600 resistance holds, downside breakout is in favor. Firm break of 0.9513 will resume larger fall from 1.0095 to 0.9407 low. Nevertheless, on the upside, sustained break of 0.9066 resistance will indicate that strong rebound is underway, and turn bias back to the upside for 0.9840 resistance.

In the bigger picture, medium term outlook is staying bearish as the cross is capped well below falling 55 W EMA (now at 0.9818). Down trend from 1.2004 (2018 high) is in favor to continue. Sustained break of 0.9407 will target 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. For now, this will remain the favored case as long as 0.9670 support turned resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.0914; (P) 1.0954; (R1) 1.0979; More…

Intraday bias in EUR/CHF remains on the downside at this point. Rise form 1.0863 should have completed at 1.1027. Deeper fall should be seen back to 1.0811/63 support zone. Decisive break there will indicate larger down trend resumption. On the upside, above 1.0973 minor resistance will turn intraday bias neutral first. In case of another rise, upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065).

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) 1.0732; (P) 1.0739; (R1) 1.0753; More…

EUR/CHF is still holding above 1.0721 support and intraday bias remains neutral. Further rise is still mildly in favor. On the upside, break of 1.0877 resistance will extend the rebound from 1.0602 for retesting 1.0915 high. On the downside, however, firm break of 1.0721 will argue that the rebound from 1.0602 has completed. Intraday bias will be turned back to the downside for this 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) 1.0535; (P) 1.0558; (R1) 1.0586; More…

EUR/CHF’s rebound from 1.0503 extends higher today and intraday bias stays on the upside. At this point, we’d still expect upside to be limited 1.0653 resistance to bring fall resumption. On the downside, break of 1.0554 minor support will bring retest of 1.0503 low first. Break will target 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress for parity next. In any case, outlook will remain bearish as long as 1.0653 resistance holds. However, considering bullish convergence condition in daily MACD, firm break of 1.0653 resistance will indicate medium term bottoming. Strong rebound would then be seen back to 1.0811/1059 resistance zone.

EUR/CHF stayed inside tight range above 1.0677 last week and outlook is unchanged. Initial bias stays neutral this week first. Price actions from 1.1198 are seen a corrective pattern that is still unfolding. Below 1.0677 will target 1.0620 key support level. On the upside, above 1.0762 will turn focus back to 1.0897 resistance. Decisive break there will suggest reversal and turn near term outlook bullish.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress and retest of 38.2% retracement of 0.9771 to 1.1198 at 1.0653 could be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. Meanwhile, break of 1.0897 resistance will argue that the larger up trend is finally resuming for above 1.1198.

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Daily Pivots: (S1) 1.0829; (P) 1.0852; (R1) 1.0868; More…

No change in EUR/CHF’s outlook. With 1.0922 minor resistance intact, further decline is expected. Next target is 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645. Though, break of 1.0922 resistance will indicate short term bottoming and bring stronger rebound to 1.1062 resistance.

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 should target 1.0629 support and below.

Daily Pivots: (S1) 1.0752; (P) 1.0771; (R1) 1.0789; More….

EUR/CHF is staying in range of 1.0737/0798 and intraday bias remains neutral first. On the downside, break of 1.0737 will target 1.0658 support, to extend the consolidation pattern from 1.0915. On the upside, break of 1.0798 minor resistance will argue that the fall from 1.0890 has completed. Intraday bias will be turned back to the upside for 1.0866 resistance.

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) 1.1313; (P) 1.1333; (R1) 1.1348; More…

EUR/CHF dropped notably but it’s staying above 1.1310 support. Intraday bias remains neutral and further rise remains mildly in favor. On the upside, firm break of 1.1444 resistance will resume the rebound from 1.1181 and target 1.1501 key resistance next. On the downside, firm break of 1.1310 will indicate completion of the rebound. In that case, intraday bias will be turned back to the downside for 1.1181 low again.

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. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

Daily Pivots: (S1) 1.0363; (P) 1.0381; (R1) 1.0393; More….

Intraday in EUR/CHF remains neutral and outlook is unchanged. Recovery from 1.0298 might still extend higher, but upside should be limited well below 1.0510 resistance to bring another fall. Break of 1.0298 will resume the down trend from 1.1149 and target 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 still in progress. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. On the upside, firm 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) 0.9843; (P) 0.9877; (R1) 0.9915; More…

Intraday bias in EUR/CHF remains neutral for the moment. Near term risk stays on the downside as long as 55 day EMA (now at 0.9899) holds. Rebound 0.9407 could have completed at 1.0095 already. Below 0.9711 will target 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Firm break there will bring deeper fall to retest 0.9407 low. However, sustained trading above 55 day EMA will bring stronger rise back to retest 1.0095 instead.

In the bigger picture, rejection by 55 week EMA (now at 1.0011) 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. For now, this will be the favored case as long as 1.0095 resistance holds.

Daily Pivots: (S1) 1.0405; (P) 1.0420; (R1) 1.0434; More….

With 1.0511 resistance intact, further decline is expected in EUR/CHF. Current down trend from 1.1149 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) 0.9772; (P) 0.9797; (R1) 0.9815; More…

No change in EUR/CHF’s outlook as range trading continues. Intraday bias stays neutral at this point. Another fall cannot be ruled out, to retest 0.9670 low. Sustained break there will resume the whole fall from 1.0095. Nevertheless, break of 0.9840 will resume the rebound from 0.9670 to 0.9878 resistance.

In the bigger picture, medium term outlook is staying bearish as the pair is capped below falling 55 W EMA (now at 0.9918). 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.

Daily Pivots: (S1) 1.0042; (P) 1.0086; (R1) 1.0117; More….

EUR/CHF’s fall from 1.0512 is still in progress and further decline should be seen to retest 0.9970 low. Decisive break there will resume larger down trend. On the upside, however, above 1.0214 minor resistance will delay the bearish case, and turn bias back to the upside for stronger rebound.

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.

EUR/CHF correction from 1.0986 short term top extended last week and dipped to 1.0865. But it few support from 1.0872 support and quickly recovered. Overall outlook is unchanged and initial bias is neutral this week for consolidation. Downside should be contained by 1.0791/0872 support zone to bring rise resumption. As noted before, the consolidative pattern from 1.1198 should be completed. 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) 1.0855; (P) 1.0881; (R1) 1.0918; More…

Breach of 1.0902 minor resistance argues that the correction from 1.0986 could have completed at 1.0836 already. Intraday bias is turned back to the upside for retesting 1.0986/0999 resistance zone. Below 1.0836 will extend the correction. Still, we’d expect strong support from 1.0791/0872 support zone to bring rebound.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have 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.

EUR/CHF’s choppy decline from 0.9995 extended lower last week. Initial bias is now on the downside this week for 0.9074 support. Strong support should be seen there to bring rebound. Break of 0.9847 will argue that the fall has completed and turn bias back to the downside. However, firm break of 0.9704 will resume the whole decline from 1.0095 to 61.8% retracement of 0.9407 to 1.0095 at 0.9670.

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).

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 1.0515) and 1.0505 support turned resistance (2020 low). The multi-decade down trend could still continue.