Sat, Dec 14, 2019 @ 13:33 GMT

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9544; (P) 0.9577; (R1) 0.9593; More

Intraday bias in USD/CHF remains neutral as it’s still bounded in range of 0.9521/9648. On the downside, firm break of 0.9521 minor support will indicate rejection by 0.9626 key fibonacci resistance. Intraday bias would then be turned back to the downside for 0.9432 support first. Break there will also confirm completion of rebound from 0.9186 and turn outlook bearish. 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.

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) 0.9571; (P) 0.9604; (R1) 0.9631; More

Dollar’s strong rebound today now put 0.9648 resistance in focus. Decisive break there and sustained trading above 0.9626 key fibonacci level will add to the case of larger reversal. In that case, rise from 0.9186 will target next fibonacci level at 0.9900. On the downside, again, break of 0.9533 minor support should indicate rejection by 0.9626 key fibonacci resistance. Intraday bias would then be turned to the downside side for 0.9432 support. Further break there will turn near term outlook bearish for retesting 0.9186 low.

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) 0.9997; (P) 1.0021; (R1) 1.0040; More

No change in USD/CHF’s outlook. It continues to lose upside momentum as seen in 4 hour MACD. But with 0.9982 minor support intact, further rally is still expected. Sustained trading above 1.0037 will pave the way 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 0.9735) 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 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 Mid-Day Outlook

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

USD/CHF’s decline resumes after brief consolidation and hits as low as 0.9621 so far. Intraday bias is back on the downside. Current fall from 1.0067 should target 0.9523 fibonacci level next. On the upside, break of 0.9678 minor resistance will turn intraday bias neutral again. But near term outlook will stay bearish as long as 0.9757 resistance holds.

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 Daily Outlook

Daily Pivots: (S1) 0.9938; (P) 0.9949; (R1) 0.9967; More….

USD/CHF is losing some upside momentum as seen with 4 hour MACD crossed below signal line. Intraday bias is turned neutral first. On the upside, break of 0.9963 resistance should confirm completion of corrective fall from 1.0128 to 0.9716. Further rise should then be seen to retest 1.0128. And for now, near term outlook will remain cautiously bullish as long as 0.9856 minor support holds.

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) 0.9752; (P) 0.9768; (R1) 0.9796; More

USD/CHF’s recovery from 0.9695 extends higher today but stays below 0.9854 support turned resistance. Intraday bias stays neutral and outlook remains bearish for another decline. On the downside, break of 0.9695 will resume the fall from 1.0237 to 0.9587 fibonacci level. Nevertheless, break of 0.9854 will indicate short term bottoming and target 1.0014 resistance instead.

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.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9520; (P) 0.9544; (R1) 0.9588; More

Intraday bias in USD/CHF remain son the upside as rebound from 0.9186 is in progress. Further rise should be see to 0.9626 fibonacci level. We’d be cautious on strong resistance from 0.9626 to limit upside. Nonetheless, sustained break of 0.9626 will carry larger bullish implications. On the downside, break of 0.9423 will indicate completion of the rebound from 0.9186. And intraday bias would then be turned back to the downside for 0.9356 support and below.

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.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9544; (P) 0.9577; (R1) 0.9593; More

Intraday bias in USD/CHF remains neutral as it’s staying in range of 0.9521/9648. On the downside, break of 0.9521 minor support will indicate rejection by 0.9626 key fibonacci resistance. Intraday bias would then be turned back to the downside for 0.9432 support first. Break there will also confirm completion of rebound from 0.9186 and turn outlook bearish. 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.

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) 0.9555; (P) 0.9576; (R1) 0.9596; More

USD/CHF rebounds strongly today and focus is back on 0.9648 resistance. Break there will firstly resume whole rebound from 0.9186. Secondly, sustained trading above 0.9626 key fibonacci resistance will will be another evidence of larger reversal. In that case, further rally should be seen back to next fibonacci level at 0.9900. On the downside, though, break of 0.9533 minor support should be another indication of rejection by 0.9626. Further break of 0.9432 will turn near term outlook bearish for retesting 0.9186 low.

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) 0.9486; (P) 0.9509; (R1) 0.9532; More

At this point, intraday bias in USD/CHF remains mildly on the upside for further rebound. The head and shoulder bottom formation (ls: 0.9254, h: 0.9186, rs: 0.9337) suggests near term reversal. Rise from 0.9186 should target 100% projection of 0.9186 to 0.9490 from 0.9337 at 0.9641 first. On the downside, break of 0.9337 minor support is needed to indicate completion of the rebound. Otherwise, near term outlook will be cautiously bullish even 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.

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USD/CHF Weekly Outlook

USD/CHF dropped to as low as 0.9854 last week but formed a temporary low there and recovered. Initial bias is neutral this week for some consolidation first. 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.

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) 0.9658; (P) 0.9678; (R1) 0.9706; More

A temporary top is formed at 0.9710 as USD/CHF retreats. Intraday bias is turned neutral first. Further rise is still expected as long as 0.9576 support holds. Above 0.9710 will extend recent rally to 0.9900 fibonacci level next. However, break of 0.9576 will indicate short term topping and turn bias to the downside for 0.9432 support and possibly below.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. The break of 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626 suggests that it’s likely completed at 0.9186 already. Further rally would be seen back to 61.8% retracement at 0.9900 and above. Sustained break there would pave the way to retest 1.0342 key resistance next.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9874; (P) 0.9892; (R1) 0.9924; More

USD/CHF rebounds further today but it’s still staying in range below 0.9954. Intraday bias stays neutral. Consolidation from 0.9954 might still extend with another decline. But in that case, 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 resume the rise from 0.9541 and 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) 0.9845; (P) 0.9886; (R1) 0.9913; More

Intraday bias in USD/CHF remains on the downside for the moment. At this point, we’d be look for strong support from 0.9841 to contain downside and bring rebound. On the upside, above 0.9907 minor resistance will turn bias back to the upside for retesting 1.0023/27 resistance zone. However, sustained break of 0.9841 will indicate near term reversal and pave the way back to 0.9659 support.

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.

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USD/CHF Weekly Outlook

USD/CHF’s rally continued last week and reached as high as 0.9758. Initial bias stays on the upside this week. Rise from 0.9186 should target 0.9900 fibonacci level next. On the downside, below 0.9702 minor support will turn bias neutral and bring consolidations. But outlook will stay bullish as long as 0.9576 support holds.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. The break of 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626 suggests that it’s likely completed at 0.9186 already. Further rally would be seen back to 61.8% retracement at 0.9900 and above. Sustained break there would pave the way to retest 1.0342 key resistance next. This will now be the preferred case as long as 0.9576 support 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 Daily Outlook

Daily Pivots: (S1) 0.9442; (P) 0.9469; (R1) 0.9493; More

Intraday bias in USD/CHF remains neutral for the moment. 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) 0.9765; (P) 0.9792; (R1) 0.9847; More

USD/CHF’s rise from 0.9541 is still in progress. Intraday bias remains on the upside for 0.9866 key resistance level, 61.8% retracement of 1.0067 to 0.9541 at 0.9866. Decisive break there will bring retest of 1.0067 high. On the downside, below 0.9736 minor support will turn intraday bias neutral first.

In the bigger picture, focus is now back on 0.9866 support turned resistance. Decisive break there will suggests that pull back from 1.0067 has completed at 0.9541. And larger rise from 0.9186 low is ready to resume. Decisive break of 1.0067 will pave the way to 1.0342 key resistance next. Meanwhile, break of 0.9541 will extend the decline but we don’t expect a break of 0.9186 low even in that case.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9442; (P) 0.9469; (R1) 0.9493; More

USD/CHF recovered ahead of 0.9423 near term support and intraday bias remains neutral. While rebound from 0.9186 might extend higher, we’d expect strong resistance from0.9626 key fibonacci level to limit upside. That’s supported by divergence condition in 4 hour MACD. On the downside, 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 Mid-Day Outlook

Daily Pivots: (S1) 0.9699; (P) 0.9748; (R1) 0.9803; More…..

Intraday bias in USD/CHF remains neutral for the moment. In case of another recovery, upside should be limited well below 0.9975 resistance to bring fall resumption. On the downside, firm break of 0.9695 will resume the fall from 1.0237 to 0.9587 fibonacci level next.

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.

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