Daily Pivots: (S1) 1.0538; (P) 1.0555; (R1) 1.0580; More….

Intraday bias in EUR/CHF remains neutral for consolidation below 1.0602. Further rally is expected as long as 1.0439 support holds. A medium term bottom should be in place at 1.0298 already. Above 1.0602 will target 28.2% retracement of 1.1149 to 1.0298 at 1.0623 first. Sustained trading above there will raise the chance of trend reversal and target 61.8% retracement at 1.0824 next. However, break of 1.0439 will dampen this bullish view and bring retest of 1.0298 instead.

In the bigger picture, current development suggests that a medium term bottom is 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.

EUR/CHF’s recovery last week suggests that pull back from 0.9953 has completed at 0.9720, after drawing support from 38.2% retracement of 0.9407 to 0.9953 0.9744. Initial bias is mildly on the upside this week for retesting 0.9953. Firm break there will resume the rally from 0.9407 to 1.0072 fibonacci level. However, break of 0.9779 will likely resume the fall from 0.9953 through 0.9720.

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. Down trend resumption through 0.9407 is mildly 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.

In the long term picture, capped well below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until firm break of 1.0505 support turned resistance (2020 low). In case of resumption, next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033.

Daily Pivots: (S1) 1.1204; (P) 1.1224; (R1) 1.1260; More….

EUR/CHF’s recovery from 1.1119 extends further but outlook is unchanged. Upside should be limited below 1.1278 resistance to bring fall resumption. On the downside, below 1.1186 minor support will turn intraday bias back to the downside for 1.1119 first. Break there will extend recent down trend to 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) 0.9837; (P) 0.9865; (R1) 0.9910; More….

Intraday bias in EUR/CHF stays on the upside as rise from 0.9407 is extending. Sustained break of 61.8% projection of 0.9407 to 0.9798 from 0.9641 at 0.9883 will solidify the case of medium term bottoming. Further rally should then be seen to 100% projection at 1.0032. On the downside, however, break of 0.9818 minor support will turn intraday bias neutral first.

In the bigger picture, considering bullish condition in daily MACD, firm break of 0.9864 resistance will confirm medium term bottoming at 0.9407. Stronger rally should then be seen to 55 week EMA (now at 1.0128), even as a corrective rebound. Nevertheless, rejection by 0.9864 will bring down trend resumption through 0.9407 next.

Daily Pivots: (S1) 1.1429; (P) 1.1456; (R1) 1.1474; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.1491 temporary top. Another rise is expected with 1.1368 minor support intact. We’re holding on to the view on bullish trend reversal after EUR/CHF drew support from 1.1154/98 zone. On the upside, above 1.1491 will target 1.1713 resistance for confirmation. Break there will target a test on 1.2004 high next. Meanwhile, note that upside momentum is not to convincing so far. Break of 1.1368 minor support will argue that the rebound has completed and turn bias back to the downside for 1.1154/98 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) 1.0515; (P) 1.0533; (R1) 1.0543; More…

EUR/CHF’s break of 1.0523 support suggests down trend resumption. Intraday bias is back on the downside. Next target is 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394. On the upside, above 1.0551 minor resistance will turn intraday bias neutral first. But recovery should be limited below 1.0653 resistance to bring fall resumption.

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 1.0811 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) 0.9532; (P) 0.9545; (R1) 0.9562; More…

EUR/CHF’s rally is in progress for 0.9574 fibonacci resistance. Considering loss of momentum as seen in 4H MACD, upside could be limited there, at least on first attempt. On the downside, break of 0.9466 support will indicate short term topping, and turn bias back to the downside.

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

Daily Pivots: (S1) 1.0630; (P) 1.0646; (R1) 1.0655; More…

Intraday bias in EUR/CHF remains neutral as it’s still bounded in range above 1.0629 temporary low. As long as 1.0706 resistance stays intact, deeper decline is still expected in the cross. Firm break of 1.0620 key support level will extend the larger decline from 1.1198 to 1.0485 fibonacci level. However, break of 1.0706 resistance will indicate short term bottoming and turn bias back to the upside. Further break of 1.0749 resistance will raise the chance of medium reversal.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. On the upside, break of 1.0897 resistance is needed to confirm completion of such fall. Otherwise, outlook will stay bearish.

Daily Pivots: (S1) 1.1519; (P) 1.1539; (R1) 1.1551; More…

EUR/CHF’s decline from 1.1713 resumes by taking out 1.1489/ after brief recovery. Intraday bias is back on the downside. Decisive break of 1.1478 support will confirm our bearish view. That is corrective rebound from 1.1366 has completed at 1.1713. And, larger fall from 1.2004 is resuming. In that case, retest of 1.1366 should be seen next. On the upside, break of 1.1556 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain cautiously bearish in case of recovery.

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.

EUR/CHF’s up trend extended to 0.9847 last week but retreated since then. Initial bias is turned neutral this week for consolidation first. But near term outlook will stay bullish as long as 0.9709 support holds. However, considering bearish divergence condition in 4H MACD, break of 0.9709 will confirm short term topping, and turn bias back to the downside for deeper pullback.

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 would 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 0.9603) 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) 1.1514; (P) 1.1534; (R1) 1.1573; More…

EUR/CHF’s consolidation from 1.1445 is still in progress and intraday bias remains neutral. Also outlook stays mildly bearish with 1.1639 resistance intact and deeper decline is expected. Break of 1.1445 will resume the corrective fall from 1.1832 and target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) At this point, we’d expect strong support from there to contain downside and bring rebound.

In the bigger picture, a medium term top should be in place at 1.1832 on bearish divergence condition in daily MACD. But there is no indication of long term reversal yet. As long as 1.1198 resistance turned support holds, we’d still expect another rise through prior SNB imposed floor at 1.2000.

Daily Pivots: (S1) 0.9556; (P) 0.9584; (R1) 0.9601; More…

Intraday bias in EUR/CHF remains neutral as range trading continues. On the upside, break of 0.9647 will resume the rebound from 0.9520. Further sustained break of 0.9670 will be the first sign of bullish reversal and target 0.9840 resistance for confirmation. On the downside, break of 0.9520 will resume the whole fall from 1.0095 towards 0.9407 low.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9859). 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 0.9840 resistance holds, in case of strong rebound.

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) 1.1307; (P) 1.1330; (R1) 1.1370; More…

EUR/CHF rebounded strongly after hitting 1.1260 and intraday bias is turned neutral first. On the upside, firm break of 1.1356 resistance will argue that the pull back from 1.1501 has completed at 1.1260. In that case, further rise would be seen back to retest 1.1501.

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 1.1240) 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) 1.0841; (P) 1.0856; (R1) 1.0879; More….

Intraday bias in EUR/CHF remains on the upside for 1.0890/0915 resistance zone. Decisive break there will resume larger rebound from 1.0503. Next target is 61.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.0992. On the downside, below 1.0854 minor support will turn intraday bias neutral again for some more consolidations.

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) 0.9843; (P) 0.9877; (R1) 0.9915; More…

EUR/CHF’s rise from 0.9704 accelerations higher today and the development argues that decline form 1.0095 has completed as a correction, with three waves down to 0.9704. Intraday bias is back on the upside for 1.0040 resistance first. Firm break there would argue that larger rise from 0.9407 is resuming through 1.0095. On the downside, though, break of 0.9837 minor support will turn intraday bias neutral first.

In the bigger picture, prior 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. 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) 1.0509; (P) 1.0520; (R1) 1.0530; More…

Downside momentum in EUR/CHF is unconvincing as seen in 4 hour MACD. But further decline is expected as long as 1.0532 resistance holds. Current down trend should target 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. On the upside, though, break of 1.0532 resistance will indicate short term bottoming and bring lengthier consolidations.

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.

Daily Pivots: (S1) 1.0971; (P) 1.0995; (R1) 1.1015; More….

Outlook in EUR/CHF is unchanged as consolidation from 1.1149 is extending. 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) 0.9471; (P) 0.9548; (R1) 0.9588; More….

Intraday bias in EUR/CHF is turned neutral first as it rebounded strongly after dipping to 0.9464. On the upside, break of 0.94680 will bring stronger rise back to 0.9864 resistance. Decisive break there will indicate near term reversal. On the downside, below 0.9464 will resume larger down trend.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033. On the upside, break of 0.9864 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.

Daily Pivots: (S1) 1.1650; (P) 1.1678; (R1) 1.1716; More…

EUR/CHF’s rally is still in progress and intraday bias remains on the upside. Current up trend should target 61.8% projection of 1.0652 to 1.1622 from 1.1387 at 1.1986, which is close to 1.2 key level. On the downside, below 1.1639 minor support will turn bias neutral and bring consolidations. But near term outlook will remain bullish as long as 1.1387 support holds.

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 1.1355 support holds.