Sun, Jul 21, 2019 @ 23:29 GMT

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9592; (P) 0.9638; (R1) 0.9674; More….

Intraday bias in USD/CHF remains on the downside as fall from 1.0037 is in progress for retesting 0.9420 low. On the upside, above 0.9684 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 0.9844 resistance holds.

In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don’t expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9713; (P) 0.9729; (R1) 0.9748; More

No change in USD/CHF’s outlook. With 0.9630 minor support intact, further rise is expected to 38.2% retracement of 1.0342 to 0.9437 at 0.9783 first. As noted before, prior break of 0.9699 resistance suggests near term reversal after defending 0.9443 key support. Break of 0.9783 will target channel resistance (now at 0.9887). On the downside, break of 0.9630, however, will indicate completion of the rebound and turn bias back to the downside for 0.9437.

In the bigger picture, current development argues that USD/CHF has successfully defended 0.9443 key support level. And long term range trading in 0.9443/1.0342 is extending with another rise. At this point, there is no sign of an up trend yet. Hence, while further rise is expected in USD/CHF, we’ll start to be cautious on loss of momentum above 61.8% retracement of 1.0342 to 0.9437 at 0.9996.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0140; (P) 1.0151; (R1) 1.0167; More

USD/CHF is losing some upside momentum as seen in 4 hour MACD. But with 1.0130 minor support intact, intraday bias stays on the upside. Current rally should target 100% projection of 0.9716 to 1.0124 from 0.9879 at 1.0287 next. On the downside, below 1.0130 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.

In the bigger picture, medium term up trend from 0.9186 is extending. Current rise should target 1.0342 resistance next. For now, we’d be cautious on strong resistance from there to limit upside, until we see medium term upside acceleration. On the downside, break of 0.9879 support is needed to indicate reversal. Otherwise, outlook will stay bullish in case of deep pull back.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9339; (P) 0.9365; (R1) 0.9405; More

Consolidation from 0.9186 is still in progress and intraday bias remains neutral. Also, outlook in USD/CHF stays mildly bearish with 0.9469 resistance intact and another decline is in favor. On the downside, break of 0.9186 will extend the larger down trend to 0.9115 medium term projection level next. However, considering bullish convergence condition in 4 hour MACD, break of 0.9469 will indicate near term reversal and turn outlook bullish for 55 day EMA (now at 0.9517) and above.

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.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Weekly Outlook

USD/CHF dropped to 0.9825 last week. But it failed to sustain below near term trend line support and recovered. Initial bias is neutral this week first. On the downside, break of 0.9825 will indicate that fall from 1.0056 is corrective whole rise from 0.9186. In that case, deeper decline would be seen to 0.9724 fibonacci level before completion. On the upside, above 0.9982 minor resistance will suggest that the pull back is finished and bring retest of 1.0056.

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) 1.0014; (P) 1.0050; (R1) 1.0072; More….

Intraday bias in USD/CHF remains neutral and outlook is unchanged. On the upside, break of 1.0124 will target 61.8% projection of 0.9716 to 1.0098 from 0.9926 at 1.0162 and then 100% projection at 1.0308. However, firm break of 1.0027 will bring deeper decline back to 0.9926 support.

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 0.9926 support will be the first signal of medium term reversal and bring another test on the trend line.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9938; (P) 0.9957; (R1) 0.9969; More

USD/CHF is staying in consolidation from 0.9879 temporary low and intraday bias stays neutral. As long as 1.0010 resistance holds, further decline remains in favor. On the downside, below 0.9879 will resume the fall from 1.0124 to 0.9716 key support. Nevertheless, break of 1.0010 will turn bias back to the upside for 1.0124/28 resistance zone.

In the bigger picture, focus is back on medium term trend line (now at 0.9849). Decisive break there will argue that whole rise from 0.9186 has completed. Further break of 0.9716 will confirm reversal and target next support level at 0.9541. Nevertheless, there is still a chance that price action from 1.0128 are forming a consolidative pattern with fall from 1.0124 as third leg. If this is the case, stronger support should be seen between 0.9716 and the trend line to contain downside.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9868; (P) 0.9902; (R1) 0.9927; More

Intraday bias in USD/CHF remains neutral for the moment. We’d continue to expect strong support from near term trend line (now at 0.9863) to complete the correction from 1.0056 to bring rise resumption. On the upside, above 0.9982 will bring retest of 1.0056 first. However, sustained break of the trend line 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.

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USD/CHF Weekly Outlook

USD/CHF powered through 0.9420 key support level last week and reached as low as 0.9288. Initial bias stays on the downside this week as long as 0.9448 minor resistance holds. Current decline would target next key fibonacci level at 0.9115. But outlook will remains bearish as long as 0.9640 resistance holds.

In the bigger picture, the strong break of 0.9420 support suggests that fall from 1.0342 is developing into a medium term down trend. Deeper fall 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 08545. In any case, break of 0.9640 resistance is needed to be the first sign of medium term bottoming. 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 Mid-Day Outlook

Daily Pivots: (S1) 0.9916; (P) 0.9946; (R1) 1.0002; More

Intraday bias in USD/CHF remains neutral first as it cannot sustain above 0.9989 resistance yet. On the upside, firm break of 0.9989 will resume the rebound from 0.9787 and target 1.0056 high. Break will resume whole rally from 0.9186. On the downside, below 0.9855 will likely resume the correction from 1.0056 through 0.9787 support. But downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring 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. 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) 0.9442; (P) 0.9469; (R1) 0.9493; More

USD/CHF is staying in range of 0.9423/9568 and intraday bias remains neutral first. As noted, rebound from 0.9186 might not be finished yet. But considering 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. However, 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.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9916; (P) 0.9938; (R1) 0.9960; More

Intraday bias in USD/CHF remains neutral for the moment and consolidations from 0.9854 might extend. In case of another recovery, upside should be limited by 1.0008 support turned resistance and bring fall resumption. On the downside, break of 0.9854 will extend the decline from 1.0237 to 0.9716 cluster support (50% retracement of 0.9186 to 1.0237 at 0.9712).

In the bigger picture, USD/CHF’s break of long term trend line support is the first indication of medium term reversal. Focus is now back on 0.9879 support. Sustained break should confirm that medium term up trend from 0.9186 has completed at 1.0237 already. Further fall should be seen to 0.9716 cluster support (50% retracement of 0.9186 to 1.0237 at 0.9712) next. Break will target 61.8% retracement at 0.9587.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9708; (P) 0.9741; (R1) 0.9772; More

USD/CHF edged higher to 0.9772 but failed to take out 38.2% retracement of 1.0342 to 0.9437 at 0.9783 and retreated. Intraday bias is turned neutral first. Further rise is in favor as long as 0.9594 support holds. As noted before, prior break of 0.9699 resistance suggests near term reversal after defending 0.9443 key support. Break of 0.9783 will target channel resistance (now at 0.9887). However, firm break of 0.9594 will dampen our bullish view and turn bias back to the downside for 0.9437.

In the bigger picture, current development argues that USD/CHF has successfully defended 0.9443 key support level. And long term range trading in 0.9443/1.0342 is extending with another rise. At this point, there is no sign of an up trend yet. Hence, while further rise is expected in USD/CHF, we’ll start to be cautious on loss of momentum above 61.8% retracement of 1.0342 to 0.9437 at 0.9996.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9927; (P) 0.9942; (R1) 0.9970; More

At this point, USD/CHF is still limited below 0.9977 minor resistance. Intraday bias stays neutral first. On the upside, break of 0.9977 will suggest that the pull back from 1.0067 has completed. And that will bring retest of 1.0067 first. Decisive break there will resume larger rally from 0.9186. On the downside, below 0.9866 will extend the fall from 1.0067 through 0.9856 to 0.9787 support. As price actions from 1.0056 are seen as a corrective pattern, downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 will bring deeper fall, as another declining leg in the long term range pattern.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9909; (P) 0.9939; (R1) 0.9960; More…..

USD/CHF is staying in tight range of 0.9897/0.9999 and intraday bias remains neutral for sideway trading. At this point, with 0.9999 minor resistance intact, deeper fall is still in favor. Below 0.9897 temporary low will turn bias to the downside for 0.9812 and possibly below. Nonetheless, whole decline from 1.0342 is seen as a correction. Hence, we’ll look for bottoming signal below 0.9812. Meanwhile, on the upside, above 0.9999 minor resistance will turn bias back to the upside for 1.0107 resistance.

In the bigger picture, we’re still maintaining that firm break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the cross. However, the corrective nature of the fall from 1.0342 is starting to give the medium term outlook a bullish favor. Hence, in stead of looking for topping signal around 1.0342, we’d now pay closer attention to upside acceleration as USD/CHF approaches this level again.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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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 Daily Outlook

Daily Pivots: (S1) 1.0018; (P) 1.0036; (R1) 1.0070; More

Despite diminishing upside momentum, intraday bias in USD/CHF stays on the upside with 0.9982 minor support holds. Current rise should extend to 1.0342 key resistance next. On the downside, though, below 0.9982 minor support will indicate short term topping, on bearish divergence condition in 4 hour MACD. And, in that case, deeper retreat could be seen, possibly to trend line support (now at 0.9748) before staging another rally.

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.

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USD/CHF Weekly Outlook

USD/CHF’s rally extended to as high as 1.0022 last week. The pair lost some upside momentum as seen in 4 hour MACD, but there is no sign of topping yet. Initial bias stays on the upside or 1.0037 resistance. Firm break there will pave the way to 1.0342 key resistance next. On the downside, though, below 0.9937 minor support will indicate short term topping. And, in that case, deeper retreat could be seen to 4 hour 55 EMA (now at 0.9897) and below before staging another rise.

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 Daily Outlook

Daily Pivots: (S1) 0.9886; (P) 0.9911; (R1) 0.9925; More

USD/CHF drops to as low as 0.9855 so far as correction from 0.9954 extends. Deeper fall could still be seen. But downside should be contained by 38.2% retracement of 0.9541 to 0.9954 at 0.9796 to bring rise resumption. On the upside, break of 0.9954 will target 1.0067 resistance next.

In the bigger picture, the pullback from 1.0067 has completed at 0.9541 already. And rise from 0.9186 is likely resuming. Firm break of 1.0067 will pave the way to retest 1.0342 key resistance. We’d be cautious on strong resistance from there to limit upside to bring another medium term fall to extend long term range trading.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9904; (P) 0.9927; (R1) 0.9961; More

USD/CHF rebounds strongly after dipping to 0.9894. Intraday bias is turned neutral first. On the upside, above 0.9984 will resume the rebound from 0.9866 to retest 1.0067 high. Decisive break there will resume whole rally from 0.9186. On the downside, below 0.9894 might extend the consolidation pattern from 1.0056 with another decline. But downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 fibonacci level will bring deeper fall, as another declining leg in the long term range pattern.

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