Sun, Nov 28, 2021 @ 09:01 GMT

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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9214; (P) 0.9259; (R1) 0.9285; More….

Intraday bias in USD/CHF is turned neutral with 4 hour MACD crossed above signal line. Correction from 0.9471 could still extend lower. But we’d expect strong support from 38.2% retracement of 0.8756 to 0.9471 at 0.9198 to contain downside and bring rebound. On the upside, above 0.9350 minor resistance will bring retest of 0.9471 high. However, sustained break of 0.9198 will bring deeper decline to 61.8% retracement at 0.9029.

In the bigger picture, fall from 1.0237 should have 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 Mid-Day Outlook

Daily Pivots: (S1) 0.9147; (P) 0.9167; (R1) 0.9181; More….

Intraday bias in USD/CHF is turned neutral with current recovery. But further decline is still in favor with 0.9251 minor resistance intact. Corrective rise from 0.8927 should be complete with three waves up to 0.9367, on bearish divergence condition in daily MACD. Below 0.9148 will target 0.9017 support first, and then 0.8925 support next. On the upside, however, break of 0.9251 minor resistance will turn bias back to the upside for retesting 0.9367 instead.

In the bigger picture, the corrective structure of the rebound from 0.8925 argues that fall from 0.9471 is not completed yet. It could either be the second leg of pattern from 0.8756 (2021 low), or resuming larger down trend from 1.0237 (2018 high). We’d pay attention to the downside momentum and assess the odds later. But for now, medium term outlook will be neutral at best as long as 0.9471 resistance holds.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9106; (P) 0.9128; (R1) 0.9168; More….

No change in USD/CHF’s outlook and further fall is expected with 0.9174 resistance intact. Decline from 0.9367 should target 0.9017 support first and then 0.8925. On the upside, however, break of 0.9174 resistance will indicate short term bottoming and turn bias back to the upside for stronger rebound instead.

In the bigger picture, the corrective structure of the rebound from 0.8925 argues that fall from 0.9471 is not complete yet. It could either be the second leg of pattern from 0.8756 (2021 low), or resuming larger down trend from 1.0237 (2018 high). We’d pay attention to the downside momentum and assess the odds later. But for now, medium term outlook will be neutral at best as long as 0.9471 resistance holds.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9403; (P) 0.9459; (R1) 0.9493; More

USD/CHF’s fall continues today and intraday bias remains on the downside. 61.8% retracement of 0.9181 to 0.9901 at 0.9456 is taken out and there’s not sign of bottoming yet. Further fall should be seen to 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337 next. On the upside, break of 0.9514 minor resistance is needed to indicate short term bottoming. Otherwise, further fall will remain in favor 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). 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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9119; (P) 0.9147; (R1) 0.9179; More….

Intraday bias in USD/CHF remains on the upside as rebound from 0.8982 is on track to 0.9207 resistance. Decisive break there would be an early sign of bullish reversal and target 0.9304 resistance for confirmation. On the downside, below 0.9115 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 Weekly Outlook

USD/CHF’s fall from 0.9304 extended lower last week after brief recovery. The development further affirm the case that corrective rebound from 0.8998 has completed at 0.9304 already. Initial bias stays on the downside for retesting 0.8998 low first. Break there will resume larger down trend for 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746 next. On the upside, break of 0.9197 resistance is needed to indicate completion of the fall from 0.9304. Otherwise, outlook will remain mildly bearish 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 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 0.9376 support turned resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

In the long term picture, price actions from 0.7065 (2011 low) are currently seen as developing into along term corrective pattern, at least until a firm break of 1.0342 resistance.

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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9870; (P) 0.9922; (R1) 0.9957; More…..

Intraday bias in USD/CHF remains on the downside for 0.9803 support. Break will confirm completion of rebound from 0.9695 at 0.9975. The three wave structure of the rebound suggests that 1.0237 is still in progress. Further decline should then be seen to 0.9695 low next. On the upside, above 0.9975 minor resistance will extend the rebound to 1.0014 resistance instead.

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 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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9157; (P) 0.9179; (R1) 0.9203; More….

Intraday bias in USD/CHF remains neutral at this point. Some more consolidations could be seen below 0.9237 temporary top. On the upside, break of 0.9237 will resume the rise form 0.8925 to 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, however, sustained break of 4 hour 55 EMA (now at 0.9129) will bring retest of 0.8925 low instead.

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 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.

USD/CHF Weekly Outlook

USD/CHF edged higher to 0.9975 last week but reversed dropped sharply from there. The corrective recovery from 0.9695 could have completed with three waves up to 0.9975. Initial bias is mildly on the downside this week. Firm break of 0.9803 will confirm this bearish case and target 0.9695 and below. On the upside, though, break of 0.9975 will extend the rebound instead.

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.

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 Weekly Outlook

USD/CHF stayed in consolidation from 0.9901 last week and outlook is unchanged. Initial bias remains neutral this week first. On the downside, break of 0.9638 will turn bias to the downside for 0.9588 and below. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9784 minor resistance 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 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.

USD/CHF Weekly Outlook

USD/CHF rose strongly last week and break of 0.9877 indicators resumption of rebound from 0.9659. Initial bias remains on the upside for 0.9975 resistance first. Decisive break there will indicate completion of whole fall from 1.0237. In this case, further rise should be seen to retest 1.0237. On the downside, though, break of 0.9800 minor support will turn bias to the downside for 0.9713 support instead.

In the bigger picture, the structure of the fall from 1.0237 suggests that it’s a corrective move. Break of 0.9975 will argue that such correction has completed at 0.9659, ahead of 61.8% retracement of 0.9186 to 1.0237 at 0.9587. Butt decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first.

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) 0.9173; (P) 0.9194; (R1) 0.9221; More….

Intraday bias in USD/CHF remains neutral at this point. On the upside, break of 0.9237 will resume the rise from 0.8925 to 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, however, break of 0.9141 minor support will turn bias to the downside for retesting 0.8925 low instead.

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 Weekly Outlook

USD/CHF dropped to as low as 0.9646 last week but drew support from 0.9659 and recovered. Initial bias is neutral this week for some more consolidations. Further fall is expected as long as 0.9770 resistance holds. Break of 0.9646 will resume whole decline form 1.0237 and target 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. Nevertheless, on the upside, break of 0.9770 will indicate short term bottoming and turn bias to the upside for 55 day EMA (now at 0.9857) instead.

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 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.

USD/CHF Mid-Day Outlook

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

Intraday bias in USD/CHF is turned neutral with today’s retreat. But rebound from 0.9056 short term top is still in favor to continue with 0.9121 minor support holds. Break of 0.9241 will target 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.