Sat, May 26, 2018 @ 17:19 GMT

USD/CHF Weekly Outlook

USD/CHF’s correction extend lower last week and outlook is unchanged. Initial bias remains on the downside this week for trend line support (now at 0.9833). We’d expect strong support from trend line (now at 0.9830) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high. However, sustained break of the trend will will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

In the long term picture, price actions from 0.7065 (2011 low) are not clearly impulsive yet. Thus, we’ll treat it as developing into a corrective pattern, at least, until a firm break of 1.0342 resistance.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9877; (P) 0.9921; (R1) 0.9956; More

No change in USD/CHF’s outlook. While downside momentum is diminishing as seen in 4 hour MACD, with 0.9977 minor resistance intact, correction from 1.0056 could extend lower. But we’d expect strong support from trend line (now at 0.9830) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9877; (P) 0.9921; (R1) 0.9956; More

With 0.9977 minor resistance intact, correction from 1.0056 could extend lower. But we’d expect strong support from trend line (now at 0.9830) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9908; (P) 0.9944; (R1) 0.9993; More

USD/CHF’s corrective fall from 1.0056 resumed today by breaking 0.9892. Intraday bias is back on the downside. For now, we’d still expect strong support from trend line (now at 0.9825) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9908; (P) 0.9944; (R1) 0.9993; More

USD/CHF recovered to 0.9977 and breached 0.9956 minor resistance. But there was no follow through buying. Hence, intraday bias is turned neutral first. On the downside, below 0.9892 will extend the corrective fall from 1.0056. But we’d expect strong support from trend line (now at 0.9825) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9900; (P) 0.9945; (R1) 0.9973; More

Intraday bias in USD/CHF remains on the downside as the correction from 1.0056 is still in progress. Further decline would be seen to trend line (now at 0.9819). We’d expect strong support from there to contain downside and bring rebound. On the upside, above 0.9956 minor resistance will bring retest of 1.0056 high first.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9900; (P) 0.9945; (R1) 0.9973; More

USD/CHF’s corrective decline from 1.0056 extends to as low as 0.9892 so far. Intraday bias remains mildly on the downside for deeper fall to trend line (now at 0.9817). We’d expect strong support from there to contain downside and bring rebound. On the upside, above 0.9956 minor resistance will bring retest of 1.0056 high first.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9961; (P) 0.9981; (R1) 0.9994; More

Break of 0.9949 minor support suggests that correction from 1.0056 is heading lower. Intraday bias is turned mildly to the downside for deeper fall. But we’d expect strong support from trend line (now at 0.9809) to contain downside to bring rebound. On the upside, firm break of 1.0056 will confirm rise resumption for 1.0342 key resistance.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9961; (P) 0.9981; (R1) 0.9994; More

Intraday bias in USD/CHF remains neutral as consolidation from 1.0056 continues. Deeper pull back could be seen. But we’d expect strong support from trend line (now at 0.9807) to contain downside to bring rebound. On the upside, firm break of 1.0056 will confirm rise resumption for 1.0342 key resistance.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9943; (P) 0.9983; (R1) 1.0015; More

Intraday bias in USD/CHF remains neutral at this point. Correction from 1.0056 could extend with another fall. But we’d expect strong support from trend line (now at 0.9799) to contain downside to bring rebound. On the upside, firm break of 1.0056 will confirm rise resumption for 1.0342 key resistance.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9943; (P) 0.9983; (R1) 1.0015; More

Intraday bias in USD/CHF is turned neutral again with today’s recovery. Overall, price actions from 1.0056 are seen as a corrective pattern. Deeper pull back cannot be ruled out. But we’d expect strong support from trend line (now at 0.9799) to contain downside to bring rebound. On the upside, firm break of 1.0056 will confirm rise resumption for 1.0342 key resistance.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Weekly Outlook

The late breach of 0.9956 minor support last week suggests that correction from 1.0056 is extending lower. Initial bias is mildly on the downside this week deeper decline. We’d expect strong support from trend line (now at 0.9799) to contain downside to bring rebound. But, on the upside, break of 1.0056 is needed to confirm rise resumption. Otherwise, more consolidation would be seen first even in case of rebound.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

In the long term picture, price actions from 0.7065 (2011 low) are not clearly impulsive yet. Thus, we’ll treat it as developing into a corrective pattern, at least, until a firm break of 1.0342 resistance.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9991; (P) 1.0012; (R1) 1.0038; More

Intraday bias in USD/CHF remains neutral as the consolidation from 1.0056 is still in progress. On the downside, below 0.9956 will bring deeper pull back. But downside should be contained by trend line support (now at 0.9789) to bring rebound. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9991; (P) 1.0012; (R1) 1.0038; More

USD/CHF is still bounded in consolidation between 0.9956/1.0056 and intraday bias remains neutral. On the downside, below 0.9956 will bring deeper pull back. But downside should be contained by trend line support (now at 0.9789) to bring rebound. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9990; (P) 1.0005; (R1) 1.0026; More

Intraday bias in USD/CHF remains neutral as consolidation from 1.0056 is still extending. Another fall cannot be ruled out and below 0.9956 will turn bias to the downside. But in that case, downside should be contained by trend line support (now at 0.9784) to bring rebound. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9990; (P) 1.0005; (R1) 1.0026; More

USD/CHF’s consolidation from 1.0056 is still in progress and intraday bias stays neutral. Break of 0.9956 will bring deeper pull back. But in that case, downside should be contained by trend line support (now at 0.9784) to bring rebound. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9984; (P) 1.0013; (R1) 1.0043; More

Intraday bias in USD/CHF remains neutral as consolidation pattern from 1.0056 is extending. Deeper pull back cannot be ruled out. But in that case, downside should be contained by trend line support (now at 0.9778) to bring rebound. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9984; (P) 1.0013; (R1) 1.0043; More

USD/CHF is staying in range below 1.0056 and intraday bias remains neutral. Consolidation from there could still extend. Break of 0.9956 will bring deeper pull back. But downside should be contained by trend line support (now at 0.9778) to bring rebound. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9968; (P) 1.0004; (R1) 1.0032; More

USD/CHF’s retreat was contained at 0.9956 and recovered. Intraday bias is turned neutral first. More corrective trading could be seen and below 0.9956 will bring deeper fall. But downside should be contained by trend line support (now at 0.9764) to bring rebound. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9968; (P) 1.0004; (R1) 1.0032; More

Intraday bias in USD/CHF remains on the downside as correction from 1.0056 is in progress. Deeper fall would be seen to trend line support (now at 0.9764). At this point, we’d expect strong support from there to bring rally resumption. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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