Sat, Aug 24, 2019 @ 06:49 GMT

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9915; (P) 0.9935; (R1) 0.9958; More

Intraday bias in USD/CHF remains neutral at this point. On the upside, break of 1.0008 resistance will indicate that pull back from 1.0128 has completed. Intraday bias would be turned back to the upside for retesting 1.0128 first. On the downside, below 0.9862 will target 0.9848 support first. Sustained break there will confirm near term reversal and target 61.8% retracement of 0.9541 to 1.0128 at 0.9765 and below.

In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9514 will pave the way back to 0.9186 low.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9757; (P) 0.9803; (R1) 0.9891; More….

Intraday bias in USD/CHF remains neutral at this point. Recovery from 0.9716 should be limited well below 0.9963 resistance to bring another decline. Current fall from 1.0128 should be correcting whole rise from 0.9186. Below 0.9716 will target 0.9541 (61.8% retracement of 0.9186 to 1.0128 at 0.9546).

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) 0.9868; (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 Daily Outlook

Daily Pivots: (S1) 0.9806; (P) 0.9832; (R1) 0.9857; More….

A temporary low is in place at 0.9807 in USD/CHF and intraday bias is turned neutral first. For now, deeper fall could be seen as long as 0.9889 minor resistance holds. Below 0.9807 will target 100% projection of 1.0067 to 0.9866 from 0.9981 at 0.9780 and possibly below. But fall from 1.0067 is seen as the third leg of the consolidation pattern from 1.0056. Hence, we’d expect strong support from 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound. On the upside, above 0.9889 will turn bias to the upside for 0.9981 resistance first. Break will bring retest of 1.0067 high.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending. 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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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9916; (P) 0.9961; (R1) 1.0021; More…..

Intraday bias in USD/CHF remains neutral for the moment as the corrective rise from 0.9860 continues. As long as 1.0043 holds, deeper decline is expected. Current fall from 1.0342 is seen as the third leg of the pattern from 1.0327. Below 0.9860 will target 61.8% retracement of 0.9443 to 1.0342 at 0.9786 and below. On the upside, break of 1.0043 will indicate short term bottoming and turn bias back to the upside.

In the bigger picture, rejection from 1.0327 resistance suggests that consolidation pattern from there is still in progress. Fall from 1.0342 is seen as the third leg and retest of 0.9443/9548 support zone could be seen. But we’d expect strong support from there to contain downside. At this point, we’re still expecting the larger rally to resume later to 38.2% retracement of 1.8305 to 0.7065 at 1.1359, after the consolidation completes.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9388; (P) 0.9439; (R1) 0.9468; More

Despite reaching as high as 0.9490, USD/CHF failed to stay above 0.9469 resistance and retreated. Intraday bias remains neutral at this point. On the upside, firm break of 0.9469 will indicate near term reversal and turn outlook bullish for 55 day EMA (now at 0.9511) and above. On the downside, below 0.9321 minor support will bring retest of 0.9186. Break there will extend the larger down trend to 0.9115 medium term projection level next.

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 Daily Outlook

Daily Pivots: (S1) 0.9701; (P) 0.9786; (R1) 0.9836; More….

USD/CHF rebounds strongly today and intraday bias is turned neutral first. With 0.9881 minor resistance intact, deeper fall cannot be ruled out. Break of 0.9734 will target 61.8% retracement of 0.9420 to 1.0037 at 0.9656. Nonetheless, as choppy fall from 1.0037 is seen as a correction, we’ll look for bottoming again below 0.9656 and above 0.9420. On the upside, break of 0.9881 resistance will now indicate completion of the decline. And intraday bias will be turned back to the upside for 1.0037.

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 Daily Outlook

Daily Pivots: (S1) 0.9620; (P) 0.9661; (R1) 0.9699; More

USD/CHF dipped notably after hitting 0.9700 but quickly recovered. Intraday bias is turned neutral first. On the upside, above 0.9700 will resume the rebound from 0.9541 and target 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. In case of another fall, we’d expect strong support above 0.9541 low to bring rebound.

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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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9719; (P) 0.9741; (R1) 0.9780; More…..

Intraday bias in USD/CHF remains neutral for consolidation above 0.9691 temporary low. Some more consolidations would be seen but upside of recovery is expected to be limited by 0.9858 support turned resistance to bring another decline. Whole fall from 1.0342 is still in progress and below 0.9691 will target 100% projection of 1.0342 to 0.9860 from 1.0099 at 0.9617. We’ll start to look for reversal signal below there.

In the bigger picture, USD/CHF is bounded in medium term range of 0.9443/1.0342 for the moment. Consolidative trading would likely continue and medium term outlook remains neutral. Break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the pair. Meanwhile, downside attempts should be contained by 0.9443 key support level.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Weekly Outlook

USD/CHF’s fall accelerated to as low as 0.9437 last week and breached 0.9443 key support. There is no sign of bottoming yet. Initial bias remains on the downside. Firm break of 0.9443 key support will extend the down trend from 1.0342 to 161.8% projection of 1.0342 to 0.9860 from 1.0099 at 0.9319. On the upside, above 0.9521 minor resistance will turn bias neutral. But outlook will remain bearish as long as 0.9699 resistance holds.

In the bigger picture, focus is now back 0.9443 key support level. Sustained break there indicate underlying bearish momentum and would target 0.9 handle and possibly below. Meanwhile, strong rebound from current level and break 0.9699 resistance will extend long term range trading between 0.9443/1.0342.

USD/CHF Weekly Chart

USD/CHF Monthly Chart

USD/CHF Weekly Chart

USD/CHF Monthly Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0071; (P) 1.0089; (R1) 1.0104; More…..

With 1.0023 minor support intact, further rise is expected in USD/CHF. As noted before, corrective fall from 1.0342 should have finished with three waves down to 0.9812. Further rise should now be seen to 1.0169 resistance first . Decisive break there will confirm this bullish case and target 1.0342 key resistance next. On the downside, below 1.0023 minor support will bring consolidations before staging another rally.

In the bigger picture, we’re still maintain 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 to 0.9812 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) 1.0042; (P) 1.0082; (R1) 1.0124; More…..

Intraday bias in USD/CHF remains neutral as it’s staying in range of 1.0019/0342. As long as 1.0019 support holds, further rally is still mildly in favor. Firm break of 1.0342 will confirm up trend resumption. However, sustained break of 1.0019 will indicate near term reversal and could bring deeper fall bring to 0.9443/9548 support zone.

In the bigger picture, the corrective fall from 1.0327 should have completed at 0.9443 already. Rise from 0.9443 could be resuming the long term rally from 2011 low at 0.7065. But decisive break of 1.0327 is needed to confirm. In that case, next medium term upside target will be 38.2% retracement of 1.8305 to 0.7065 at 1.1359. Rejection from 1.0327 will extend the sideway pattern with another fall back to 0.9443/9548 support zone.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9325; (P) 0.9349; (R1) 0.9379; More

Intraday bias in USD/CHF remains neutral for consolidation above 0.9186. With 0.9469 resistance intact, deeper fall is still expected. 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 0.9520) 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 Mid-Day Outlook

Daily Pivots: (S1) 1.0028; (P) 1.0051; (R1) 1.0096; More…..

Intraday bias in USD/CHF remains neutral for the moment. With 1.0135 minor resistance intact, deeper fall could be seen. Rise from 0.9443 could have completed at 1.0342 already, after failing to sustain above 1.0327 key resistance. Below 0.9995 will target 0.9443/9548 support zone. On the upside, above 1.0135 minor resistance will turn focus back to 1.0342 resistance instead.

In the bigger picture, rejection from 1.0327 resistance suggests that consolidation pattern from there is still in progress. Fall from 1.0342 is seen as the third leg and retest of 0.9443/9548 support zone could be seen. But we’d expect strong support from there to contain downside. At this point, we’re still extend the larger rally to resume later to 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9812; (P) 0.9854; (R1) 0.9894; More…..

Intraday bias in USD/CHF is turned neutral with a temporary low in place at 0.9812. Some consolidation could be seen. But deeper fall is still expected as long as 0.9959 resistance holds. Below 0.9812 will extend the current decline from 1.0342 to 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687 and possibly below. However, break of 0.9959 will indicate short term bottoming and turn bias back to the upside for 55 day EMA (now at 1.0022).

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we’ll stay neutral in the pair first. In case of deeper fall, we’d expect strong support from 0.9443/9548 support zone.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9920; (P) 0.9939; (R1) 0.9970; More

Intraday bias in USD/CHF remains neutral first. Another fall could be seen with 1.0006 minor support intact. Break of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 will target 0.9848 key support level. On the upside, above 1.0006 minor resistance will indicate that the pull back has completed. Intraday bias will be turned back to the upside for retesting 1.0128 high.

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. However, break of 0.9848 near term support will dampen this view and bring deeper decline back to 0.9541 support and possibly below.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0052; (P) 1.0094; (R1) 1.0116; More…..

Intraday bias in USD/CHF remains neutral for the moment. The lost of momentum after hitting 1.0145 is dampening the bullish case a bit. But still, as 1.0008 minor support holds, further rise is mildly in favor in the pair. Above 1.0145 will target a test on 1.0342 key resistance. Based on neutral medium term outlook, we’d be cautious on topping at around 1.0342. On the downside, break of 1.0008, however, will indicate completion of the rebound from 0.9860. And intraday bias will be turned back to the downside for 0.9860.

In the bigger picture, prior rejection from 1.0327 resistance argues that USD/CHF is staying in a medium term sideway pattern. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we’ll stay neutral in the pair first. In case of another fall, we’d expect strong support from 0.9443/9548 support zone. Meanwhile firm break of 1.0342 will target 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Weekly Outlook

USD/CHF’s decline extended to 0.9254 last week. Downside momentum is diminishing as seen in 4 hour MACD. But as long as 0.9392 resistance holds, deeper fall is expected. Current fall from 1.0037 would target next fibonacci projection level at 0.9115. On the upside, break of 0.9392 minor resistance, however, will indicate short term bottoming and bring stronger rebound.

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 0.8545. 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 Daily Outlook

Daily Pivots: (S1) 0.9877; (P) 0.9921; (R1) 0.9956; More

With 0.9977 minor resistance intact, correction from 1.0056 could extend lower. But we’d expect strong support from trend line (now at 0.9830) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high.

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) 0.9596; (P) 0.9627; (R1) 0.9683; More….

Intraday bias in USD/CHF remains neutral for consolidation above 0.9571 temporary low. As long as 0.9698 support turned resistance holds, deeper fall could be seen to 0.9420 low. Nonetheless, break of 0.9698 will indicate short term bottoming. Intraday bias would then be turned back to the upside for 0.9844 key near term resistance next.

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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