Sun, Jul 21, 2019 @ 23:26 GMT

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.

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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.

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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.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9901; (P) 0.9924; (R1) 0.9942; More….

USD/CHF is staying in consolidation from 0.9990 and intraday bias remains neutral. In case of deeper fall, downside 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.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0007; (P) 1.0018; (R1) 1.0037; More….

Intraday bias in USD/CHF remains neutral for consolidation below 1.0028 temporary top. In case of deeper retreat, downside should be contained by 0.9908 to bring another rally. As noted before, corrective decline from 1.0128 should have completed at 0.9716 already, after hitting trend line support. On the upside, above 1.0028 will resume the rise from 0.9716 to retest 1.0128 high first.

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. 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.

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USD/CHF Weekly Outlook

USD/CHF’s rebound from 0.9186 extended higher last week after brief retreat. Initial bias is back on the upside this week for 0.9626 fibonacci level. On the downside, break of 0.9423 is needed to indicate completion of the rebound. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Current development is raising the chance that it is completed. But there is no confirmation yet. Focus will now be back on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add much credence to the case of trend reversal and target 61.8% retracement at 0.9900 and above). However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

In the long term picture, at this point, the long term decline from 1.0342 is still in favor to extend lower to 0.8698 key support. But sustained break of above mentioned 0.9626 will turn focus back to 1.0037/0342 resistance zone.

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USD/CHF Weekly Outlook

USD/CHF’s strong rebound and decisive break of the near term falling channel suggests that corrective pull back from 1.0128 has completed at 0.9716 already. Initial bias remains on the upside this week. Firm break of 0.9963 will confirm this bullish case and target retesting 1.0128 high. Also, in case of retreat, break of 0.9856 is needed to confirm completion of the rebound. Otherwise, further rise will remain in favor.

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.

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USD/CHF Weekly Outlook

USD/CHF rose further to 0.9648 last week but formed a temporary top there and retreated. Initial bias is neutral this week first. Rejection from 0.9626 key fibonacci resistance, followed by break of 0.9521 support, will turn bias back to the downside for 0.9432 support. Break there will indicate near term reversal and completion of rebound from 0.9186. Meanwhile, sustained break of 0.9626 will be another evidence of larger reversal. In this case, further rise would be seen to next fibonacci level at 0.9900.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add to the case of trend reversal and target 61.8% retracement at 0.9900 and above. However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

In the long term picture, at this point, the long term decline from 1.0342 is still in favor to extend lower to 0.8698 key support. But sustained break of above mentioned 0.9626 will turn focus back to 1.0037/0342 resistance zone.

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USD/CHF Weekly Outlook

USD/CHF’s rally extended to as high as 0.9919 last week and met target of 0.9900 fibonacci level. A temporary top is likely in place and thus, initial bias is neutral this week for some consolidations first. Downside of retreat should be contained above 0.9648 resistance turned support and bring another rally. Above 0.9919 will target 1.0037 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 0.9648 resistance turned support holds, even in case of pull back.

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) 0.9961; (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 Mid-Day Outlook

Daily Pivots: (S1) 0.9820; (P) 0.9857; (R1) 0.9914; More….

USD/CHF rebounds to as high as 0.9903 so far today. Breach of the ner term falling channel resistance argues that correction from 1.0128 might have completed earlier than expected at 0.9716. Intraday bias is now cautiously on the upside for 0.9963 resistance first. Decisive break there would add more credence to this bullish case and target retest of 1.0128. However, break of 0.9800 minor support will turn bias back to the downside. Corrective fall from 1.0128 would extend through 0.9716 to 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546) instead.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9647; (P) 0.9662; (R1) 0.9689; More…..

As long as 0.9688 minor resistance holds, deeper decline is expected in USD/CHF. Break of 0.9633 will resume whole decline from 1.0067 and target 0.9523 fibonacci level next. On the upside, above 0.9688 minor resistance will dampen this bearish case and target 0.9757 resistance. Break of 0.9757 resistance will indicate near term reversal and bring stronger rebound back to 0.9866 support turned resistance for confirmation.

In the bigger picture, rise from 0.9186 low has completed at 1.0067, after failing to sustain above 1.0037 resistance. Fall from 1.0067 could extend to 61.8% retracement of 0.9816 to 1.0067 at 0.9523 and below. But for now, we don’t expect a break of 0.9186 low. On the upside, firm break of 0.9866 support turned resistance will suggests that fall from 1.0067 has completed and rise from 0.9186 is resuming.

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USD/CHF Weekly Outlook

USD/CHF’s rebound from 0.9716 extended to as high as 1.0028 last week. A temporary top was formed there and initial bias is neutral this week for some consolidation first. Downside of retreat should be contained by 0.9908 to bring another rally. As noted before, corrective decline from 1.0128 should have completed at 0.9716 already, after hitting trend line support. On the upside, above 1.0028 will resume the rise from 0.9716 to retest 1.0128 high next.

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. 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.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0076; (P) 1.0094; (R1) 1.0124; More

USD/CHF’s rally is still in progress and intraday bias remains on the upside for 1.0124/8 resistance. We’d be cautious on strong resistance from there to limit upside. Though, decisive break of 1.0124/8 will confirm larger up trend resumption. USD/CHF should target 1.0342 next. On the downside, break of 1.0046 will turn bias to the downside to extend recent sideway trading instead.

In the bigger picture, loss of upside momentum is seen is bearish divergence in daily MACD. But there is no clear sign of bearish reversal in USD/CHF yet. Rise fro 0.9186 is likely still in progress. Decisive break of 1.0128 resistance will resume this medium term rally to 1.0342 resistance next. This will remain the preferred case now, as long as 0.9716 support holds.

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USD/CHF Weekly Outlook

USD/CHF’s fall from 1.0237 extended to as low as 1.0008 last week and broke 55 day EMA decisively. Initial bias stays on the downside this week for further fall. Sustained trading below 61.8% retracement of 0.9879 to 1.0237 at 1.0016 will pave the way to retest 0.9879 key support. On the upside, break of 1.0119 resistance will suggest that the decline from 1.0237 has completed and turn bias to the upside.

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.

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 Weekly Outlook

USD/CHF edged higher to 1.0056 last week but failed to sustain above 1.0037 resistance. A short term top is formed on bearish divergence condition in 4 hour MACD> Initial bias is mildly on the downside this week. Deeper pull back could be seen to trend line support (now at 0.9761). 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.

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 Weekly Outlook

USD/CHF rose to 0.9490 last week but failed to sustain above 0.9469 resistance and dropped sharply since then. With 0.9321 minor support intact, initial bias is neutral this week first. On the downside, break of 0.9321 will indicate completion of the rebound from 0.9186. Intraday bias will be turned back to the downside for 0.9186 first. Break will resume larger down trend to 0.9115 projection level. On the upside, break of 0.9490 will revive the case of near term reversal and turn outlook bullish.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Deeper decline should be seen to 100% projection of 1.0342 to 0.9420 from 1.0037 at 0.9115. Break will target 161.8% projection at 0.8545. In any case, sustained trading above 55 day EMA is needed to be the first sign of medium term reversal. Otherwise, outlook will stay bearish even in case of strong rebound.

In the long term picture, the strong break of 0.9420 support and downside acceleration turns the long term outlook rather bearish. Corrective rebound from 0.7065 (2011 low) could have already completed at 1.0342. 0.8698 support will be a key level to watch. Sustained break there could bring retest of 0.7065.

USD/CHF Weekly Chart

USD/CHF Monthly Chart

USD/CHF Weekly Chart

USD/CHF Monthly Chart

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USD/CHF Weekly Outlook

USD/CHF edged higher to 0.9568 last week but lost momentum again and retreated. Initial bias is neutral this week first. Considering bearish divergence condition in 4 hour MACD, even in case of another rise, upside should be limited by 0.9626 key fibonacci level. Break of 0.9432 support will indicate near term reversal and completion of rebound from 0.9186. In this case, intraday bias will be turned back to the downside for retesting 0.9186 low. Nonetheless, sustained break of 0.9626 will carry larger bullish implications.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add to the case of trend reversal and target 61.8% retracement at 0.9900 and above). However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

In the long term picture, at this point, the long term decline from 1.0342 is still in favor to extend lower to 0.8698 key support. But sustained break of above mentioned 0.9626 will turn focus back to 1.0037/0342 resistance zone.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9568; (P) 0.9590; (R1) 0.9628; More

USD/CHF breached 0.9626 key fibonacci level but there is no sustained trading above there yet. On the upside, sustained break of 0.9626 will be another evidence of larger reversal. In this case, further rise would be seen to next fibonacci level at 0.9900. However, rejection from 0.9262, followed by break of 0.9521 support, will turn bias back to the downside for 0.9432 support. Break there will indicate near term reversal and completion of rebound from 0.9186.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add to the case of trend reversal and target 61.8% retracement at 0.9900 and above). However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9629; (P) 0.9651; (R1) 0.9672; More

Intraday bias in USD/CHF remains on the upside as rebound from 0.9541 extends today. Further rise should be seen to 0.9757 resistance first. Firm break there will target 0.9866 key resistance level, 61.8% retracement of 1.0067 to 0.9541 at 0.9866. On the downside, below 0.9635 minor support will turn bias back to the downside for 0.9541 low instead.

In the bigger picture, rise from 0.9186 low has completed at 1.0067, after failing to sustain above 1.0037 resistance. Fall from 1.0067 could extend to 61.8% retracement of 0.9816 to 1.0067 at 0.9523 and possibly below. But for now, we don’t expect a break of 0.9186 low. On the upside, firm break of 0.9866 support turned resistance will suggest that fall from 1.0067 has completed and rise from 0.9186 is resuming.

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