Tue, Aug 04, 2020 @ 12:00 GMT

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9123; (P) 0.9182; (R1) 0.9235; More

Rebound from 0.9056 short term top is still in favor to continue to 0.9376 cluster resistance (38.2% retracement of 0.9901 to 0.9056 at 0.9379). But upside should be limited there to bring another decline. On the downside, below 0.9121 minor support will bring retest of 0.9056 low. However, sustained break of 0.9376/9 will bring stronger rally to 61.8% retracement at 0.9578.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9080; (P) 0.9115; (R1) 0.9173; More

Intraday bias in USD/CHF remains on the upside as rebound from 0.9056 short term bottom is in progress. Further rise would be seen to 0.9376 cluster resistance (38.2% retracement of 0.9901 to 0.9056 at 0.9379). But upside should be limited there to bring another decline. On the downside,below 0.9148 minor support will bring retest of 0.9056 low. However, sustained break of 0.9376/9 will bring stronger rally to 61.8% retracement at 0.9578.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9080; (P) 0.9115; (R1) 0.9173; More

USD/CHF’s break of 0.9151 minor resistance suggests short term bottoming at 0.9056, on bullish convergence in 4 hour MACD. Intraday bias is turned back to the upside for 4 hour 55 EMA (now at 0.9203) and above. At this point, we’d expect upside to be limited below 0.9376 support turned resistance. On the downside, break of 0.9056 will extend recent down trend form 0.9901.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.

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USD/CHF Weekly Outlook

USD/CHF’s down trend accelerated to as low as 0.9056 last week. As a temporary low was formed, initial bias is neutral this week first. Considering mild bullish convergence condition in 4 hour MACD, Break of 0.9151 minor resistance will suggest short term bottoming. Intraday bias will be turned back to the upside for rebound to 4 hour 55 EMA (now at 0.9208) and above. But upside should be limited below 0.9376 support turned resistance. On the downside, break of 0.9056 will extend the down trend to 161.8% projection of 0.9736 to 0.9376 from 0.9467 at 0.8885.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.

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) 0.9070; (P) 0.9111; (R1) 0.9133; More

At this point, further fall could still be seen in USD/CHF with 0.9151 minor resistance intact. Current decline might target 161.8% projection of 0.9736 to 0.9376 from 0.9467 at 0.8885. On the upside, above 0.9151 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another decline.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9070; (P) 0.9111; (R1) 0.9133; More

USD/CHF’s fall accelerates to as low as 0.9056 so far. Long term projection level of 0.9081 is already met but there is no sign of bottoming yet. Intraday bias remains on the downside. Next near term target will be 161.8% projection of 0.9736 to 0.9376 from 0.9467 at 0.8885. On the upside, above 0.9151 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another decline.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9147; (P) 0.9187; (R1) 0.9220; More

USD/CHF’s decline is still in progress and intraday bias remains on the downside. Next target is fibonacci projection level at 0.9081. On the upside, break of 0.9230 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 0.9362 support turned resistance holds, in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9147; (P) 0.9187; (R1) 0.9220; More

Intraday bias in USD/CHF remains on the downside at this point. Current decline should now target next fibonacci projection level at 0.9081. On the upside, break of 0.9230 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 0.9362 support turned resistance holds, in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9147; (P) 0.9187; (R1) 0.9220; More

Further fall is expected in USD/CHF with 0.9230 minor resistance intact, despite loss of downside momentum as seen in 4 hour MACD. Current decline should now target next fibonacci projection level at 0.9081. On the upside, break of 0.9230 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 0.9362 support turned resistance holds, in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9147; (P) 0.9187; (R1) 0.9220; More

Intraday bias in USD/CHF remains on the downside at this point. Current decline should now target next fibonacci projection level at 0.9081. On the upside, break of 0.9230 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 0.9362 support turned resistance holds, in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9167; (P) 0.9199; (R1) 0.9231; More

USD/CHF’s fall resumes after brief recovery and intraday bias is back on the downside. Current fall should target next fibonacci projection level at 0.9081. On the upside, break of 0.9230 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 0.9362 support turned resistance holds, in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9167; (P) 0.9199; (R1) 0.9231; More

A temporary low was formed at 0.9166 in USD/CHF with 4 hour MACD crossed above signal line. Intraday bias is turned neutral for some consolidations. Upside of recovery should be limited by 0.9362 support turned resistance to bring another fall. On the downside, break of 0.9166 will turn bias back to the downside for next fibonacci projection level at 0.9081.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9190; (P) 0.9226; (R1) 0.9243; More

USD/CHF recovers mildly after dipping to 0.9166 but intraday bias stays on the downside with 0.9260 minor resistance intact. Current fall should now target next fibonacci projection level at 0.9081. On the upside, above 0.9260 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 0.9362 support turned resistance holds, in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9190; (P) 0.9226; (R1) 0.9243; More

USD/CHF’s decline is still in progress today and hits as low as 0.9166 so far. 0.9181 support is breached and there is not sign of bottoming yet. Intraday bias stays on the downside for next fibonacci projection level at 0.9081. On the upside, above 0.9260 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 0.9362 support turned resistance holds, in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

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USD/CHF Weekly Outlook

USD/CHF’s fall from 0.9901 extended to as low as 0.9207 last week and initial bias stays on the downside. Further fall could be seen to 0.9181 low. Sustained break there will extend larger decline to next fibonacci projection level at 0.9081. On the upside, above 0.9260 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 0.9362 support turned resistance holds, in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

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) 0.9233; (P) 0.9268; (R1) 0.9290; More

USD/CHF’s fall from 0.9901 is still in progress and intraday bias remains on the downside. Deeper decline would be seen to 0.9181 low. We’ll look for bottoming around there. However, break of 0.9362 support turned resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is still staying in long term range pattern from 1.0342, (2016 high). While deeper fall could be seen, we do not expect a firm break of 0.9181/86 support zone (2018 and 2020 low). Hence, we’d look for bottoming signal as it approaches this zone. However, sustained break there will carry long term bearish implications for next key support at 0.8336.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9233; (P) 0.9268; (R1) 0.9290; More

Intraday bias in USD/CHF remains on the downside as fall from 0.9901 is in progress. Deeper decline would be seen to 0.9181 low. We’ll look for bottoming around there. However, break of 0.9362 support turned resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is still staying in long term range pattern from 1.0342, (2016 high). While deeper fall could be seen, we do not expect a firm break of 0.9181/86 support zone (2018 and 2020 low). Hence, we’d look for bottoming signal as it approaches this zone. However, sustained break there will carry long term bearish implications for next key support at 0.8336.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9272; (P) 0.9312; (R1) 0.9337; More

Outlook in USD/CHF remains unchanged and intraday bias stays on the downside. Fall from 0.9901 should target a test on 0.9181 low. We’ll look for bottoming around there. On the upside, break of 0.9362 support turned resistance will turn intraday bias neutral first. But break of 0.9467 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is still staying in long term range pattern from 1.0342, (2016 high). While deeper fall could be seen, we do not expect a firm break of 0.9181/86 support zone (2018 and 2020 low). Hence, we’d look for bottoming signal as it approaches this zone. However, sustained break there will carry long term bearish implications for next key support at 0.8336.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9272; (P) 0.9312; (R1) 0.9337; More

Intraday bias in USD/CHF remains on the downside for the moment. Fall from 0.9901 should target a test on 0.9181 low. We’ll looking for bottoming around there. On the upside, break of 0.9362 support turned resistance will turn intraday bias neutral first. But break of 0.9467 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is still staying in long term range pattern from 1.0342, (2016 high). While deeper fall could be seen, we do not expect a firm break of 0.9181/86 support zone (2018 and 2020 low). Hence, we’d look for bottoming signal as it approaches this zone. However, sustained break there will carry long term bearish implications for next key support at 0.8336.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9304; (P) 0.9351; (R1) 0.9381; More

Intraday bias in USD/CHF remains on the downside at this point. Current decline form 0.9901 should target a test on 0.9181 low. We’ll looking for bottoming around there. On the upside, break of 0.9362 support turned resistance will turn intraday bias neutral first. But break of 0.9467 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is still staying in long term range pattern from 1.0342, (2016 high). While deeper fall could be seen, we do not expect a firm break of 0.9181/86 support zone (2018 and 2020 low). Hence, we’d look for bottoming signal as it approaches this zone. However, sustained break there will carry long term bearish implications for next key support at 0.8336.

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