Tue, Oct 26, 2021 @ 05:39 GMT

USD/CHF Weekly Outlook

USD/CHF rebounded further to 0.9848 last week but failed to break 38.2% retracement of 1.0237 to 0.9613 at 0.9851 and retreated sharply. Initial bias is neutral this week. On the downside, break of 0.9741 will suggest rejection by 0.9851 and retain near term bearishness. Intraday bias will be turned back to the downside for retesting 0.9613 low. On the upside, sustained break of 0.9851 will add to the case of bullish near term reversal and target 61.8% retracement at 0.9999 next.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying sideway trading started from 1.0342 (2016 high). Fall from 1.0237 is a leg inside the pattern and could target 0.9186 (2018 low). In case of another rise, break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9190; (P) 0.9214; (R1) 0.9260; More….

Intraday bias in USD/CHF remains on the upside at this point. Current rise from 0.8925 short term bottom should target 61.8% retracement of 0.9471 to 0.8925 at 0.9262. Sustained break there will pave the way to retest 0.9471 resistance. On the downside, below 0.9166 will turn intraday bias neutral first.

In the bigger picture, medium term bearishness is neutralized by strong break of 55 week EMA. Focus is back on 0.9471 resistance. Sustained break there will indicate completion of whole decline from 1.0342 (2016 high). Medium term outlook will be turned bullish for a test on 1.0342 high.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9276; (P) 0.9299; (R1) 0.9323; More….

USD/CHF’s break of 0.9356 support suggests that deeper correction is underway. Intraday bias is back on the downside. Still, overall outlook will remain bullish as long as 0.9044 resistance turned support holds. Up trend resumption is expected at a later stage. Break of 0.9374 will target 61.8% retracement of 0.9901 to 0.8756 at 0.9464.

In the bigger picture, current development argues that fall from 1.0237 has completed at 0.8756, on bullish condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. This will now remain the favored case as long as 0.9044 resistance turned support holds.

USD/CHF Weekly Outlook

USD/CHF rose to 0.9990 last week but formed a temporary top there and retreated. Initial bias is neutral this week first, for some consolidations. But downside of retreat should be contained by 0.9856 resistance turn support to bring another rally. As note before, corrective pull back from 1.0128 has completed at 0.9716 already. Above 0.9990 will extend the rise from 0.9716 to retest 1.0128 high.

In the bigger picture, USD/CHF drew strong support from medium term trend line and rebounded. That suggests rise from 0.9186 is still in progress. Break of 0.9963 will affirm this bullish case. Further break of 1.0128 will confirm up trend resumption and target 1.0342 key resistance. Nevertheless, break of 0.9716 will dampen this bullish view and at least bring deeper fall to 0.9541 key support.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9217; (P) 0.9240; (R1) 0.9273; More….

Intraday bias in USD/CHF remains on the upside for the moment Sustained break of 61.8% retracement of 0.9471 to 0.8925 at 0.9262 will pave the way to retest 0.9471 resistance. On the downside, break of 0.9141 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, medium term outlook is currently neutral with focus on 0.9471 resistance. Sustained break there will indicate completion of whole decline from 1.0342 (2016 high). Medium term outlook will be turned bullish for a test on 1.0342 high. But, rejection by 0.9471 again will revive bearishness for another fall through 0.8756 low.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9217; (P) 0.9240; (R1) 0.9273; More….

Intraday bias remains mildly on the upside at this point. Sustained break of 61.8% retracement of 0.9471 to 0.8925 at 0.9262 will pave the way to retest 0.9471 resistance. On the downside, break of 0.9141 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, medium term outlook is currently neutral with focus on 0.9471 resistance. Sustained break there will indicate completion of whole decline from 1.0342 (2016 high). Medium term outlook will be turned bullish for a test on 1.0342 high. But, rejection by 0.9471 again will revive bearishness for another fall through 0.8756 low.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9696; (P) 0.9721; (R1) 0.9743; More

USD/CHF is staying in range trading and intraday bias remains neutral first. Corrective pattern from 0.9901 might still extend further. Break of 0.9665 minor support will turn bias to the downside for 0.9588 support and possibly below. But overall, downside contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9802 will target a test on 0.9901 high.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). It could have completed at 0.9181 after hitting 0.9186 key support (2018 low). Break of 0.9901 will extend the rebound form 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9874; (P) 0.9923; (R1) 1.0022; More

USD/CHF’s rally is still in progress and intraday bias stays on the upside for 1.0056 high. Decisive break there will resume larger rise fro 0.9186 and target 1.0342 key resistance next. On the downside, below 0.9894 minor support will turn bias neutral and could extend the correction from 1.0056 for a while.

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. However, sustained break of 0.9724 will dampen this bullish view and would at least bring deeper fall to 61.8% retracement at 0.9518.

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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9116; (P) 0.9137; (R1) 0.9149; More….

USD/CHF dipped to 0.9097 earlier today but quickly recovered back above 0.9115 support. Intraday bias remains neutral first. n the upside, decisive break of 0.9207 would be an early sign of bullish reversal and target 0.9304 resistance for confirmation. On the downside, below 0.9097 minor support will turn bias back to the downside for 0.8982 low instead.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 high). There is no clear sign of completion yet. On resumption, next target will be 138.2% projection of 1.0342 to 0.9186 from 1.0237 at 0.8639. Nevertheless, strong break of 0.9304 resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9978; (P) 1.0031; (R1) 1.0061; More

Intraday bias in USD/CHF remains on the downside for the moment. Current fall from 1.0237 is in progress for 0.9879 key support next. Decisive break there will carry larger bearish implications. On the upside, break of 1.0098 is needed to indicate completion of such decline. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, USD/CHF is losing upside momentum ahead of 1.0342 key resistance (2016 high). There is no clear sign of reversal yet. But even in case of another rise, we’d be cautious on strong resistance from 1.0342 to limit upside. On the downside, break of 0.9879 support will suggest that larger rise from 0.9186 (2018 low) has completed. Deeper fall will be seen to 0.9716 support for confirmation.

USD/CHF Weekly Outlook

USD/CHF’s rebound last week was limited below 0.9802 resistance. Initial bias remains neutral this week first. Corrective pattern from might extend further. Break of 0.9681 minor support will turn bias to the downside for 0.9588 support and below. Overall, downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9802 will target a test on 0.9901 high.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). It could have completed at 0.9181 after hitting 0.9186 key support (2018 low). Break of 0.9901 will extend the rebound form 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9199; (P) 0.9217; (R1) 0.9246; More….

Intraday bias in USD/CHF remains neutral first. We’d continue to expect strong support from 38.2% retracement of 0.8756 to 0.9471 at 0.9198 to bring rebound. On the upside, above 0.9258 will turn bias to the upside for retesting 0.9471. However, sustained break of 0.9198 will bring deeper fall to 61.8% retracement at 0.9029.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish convergence condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. However, sustained trading below 55 day EMA (now at 0.9192) will revive medium term bearishness for down trend extension through 0.8756 at a later stage.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9203; (P) 0.9224; (R1) 0.9257; More

USD/CHF’s rebound from 0.8998 is still in progress and intraday bias stays on the upside. Next target is 38.2% retracement of 0.9901 to 0.8998 at 0.9343. On the upside, break of 0.9171 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained 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.

USD/CHF Weekly Outlook

USD/CHF dropped through 0.9376 last week to resume the decline from 0.9901. But as a temporary low was formed at 0.9362, initial bias is neutral this week first. Further fall is expected as long as 0.9453 resistance holds. On the downside, break of 0.9362 will target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. Sustained break there will pave the way to retest 0.9181 low. However, firm break of 0.9453 will turn bias back to the upside for 0.9532 resistance instead.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). It could have completed at 0.9181 after hitting 0.9186 key support (2018 low). Break of 0.9901 will extend the rebound from 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9066; (P) 0.9082; (R1) 0.9102; More

USD/CHF recovers mildly today but stays in consolidation form 0.9030. Intraday bias remains neutral at this point. In case of stronger recovery, upside should be limited below 0.9165 resistance. On the downside, break of 0.9030 will target 0.8998 low first. Firm break there will resume larger down trend to 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. However, break of 0.9165 will invalidate this bearish view and turn bias back to the upside for 0.9304 resistance.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 high). There is no clear sign of completion yet. On resumption, next target will be 138.2% projection of 1.0342 to 0.9186 from 1.0237 at 0.8639. Nevertheless, strong break of 0.9304 resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9783; (P) 0.9813; (R1) 0.9831; More

Intraday bias in USD/CHF remains mildly on the downside at this point. Current fall from 1.0023 should target test on 0.9659 low. However, considering bullish convergence condition in 4 hour MACD, break of 0.9876 will indicate short term bottoming. In such case, intraday bias will be turned back to the upside for 55 day EMA (now at 0.9899) and above.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying in range of 0.9659/1.0237. In any case, decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall. Meanwhile, break of 0.9695 support will target 0.9541 support instead.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9826; (P) 0.9843; (R1) 0.9870; More

Intraday bias in USD/CHF remains neutral for the moment. Further decline is in favor with 0.9908 resistance intact. Below 0.9803 will extend the fall from 0.9951 to retest 0.9695 low. On the upside, break of 0.9908 resistance would resume the rebound from 0.9695, through 0.9951, to 1.0014 resistance.

In the bigger picture, up trend from 0.9186 (2018 low) should have completed at 1.0237 already. Deeper decline would be seen to 61.8% retracement of 0.9186 to 1.0237 at 0.9587 and below. For now, USD/CHF is seen as in long term range pattern between 0.9186 and 1.0342. Hence, we’d pay attention to bottoming signal below 0.9587. However, sustained break of 1.0014 will revive medium term bullishness and turn focus back to 1.0237 high.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9117; (P) 0.9145; (R1) 0.9165; More….

USD/CHF is staying in consolidation above 0.9121 temporary low and intraday bias remains neutral. Deeper decline is expected with 0.9194 minor resistance holds. Below 0.9121 will resume the fall from 0.471 for 61.8% retracement of 0.8756 to 0.9471 at 0.9029 next. On the upside, though, break of 0.9194 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for rebound.

In the bigger picture, rejection by 61.8% retracement of 0.9901 to 0.8756 at 0.9464 argues that rebound from 0.8756 was probably just a corrective move. That is, larger down trend from 1.0237 might be still in progress. We’ll monitor the downside momentum of the decline from 0.9471, to assess the chance of breakthrough 0.8756 low at a later stage.

USD/CHF Weekly Outlook

USD/CHF’s fall from 1.0237 resumed last week and reached as low as 0.9756. Initial bias remains on the downside this week for 0.9716 support first. Break will target 0.9587 fibonacci level next. On the upside, break of 0.9838 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited well below 1.0014 resistance to bring fall resumption.

In the bigger picture, current development confirms that up trend from 0.9186 (2018 low) has completed at 1.0237 already. With 38.2% retracement of 0.9186 to 1.0237 at 0.9836 taken out, deeper fall should be seen to 61.8% retracement at 0.9587 and below. We’d pay attention to bottoming signal below 0.9587.

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.