Thu, Jan 20, 2022 @ 09:00 GMT

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.

USD/CHF Weekly Outlook

No change in USD/CHF’s outlook as it continued to trading sideway in range last week. Initial bias remains neutral this week first. On the downside, break of 0.9098 will target 0.9017 support first. Further break there will likely resume the decline from 0.9471 through 0.8925 low. On the upside, break of 0.9241 resistance should resume the rise from 0.8925 through 0.927.

In the bigger picture, USD/CHF is still struggling around 55 week EMA (now at 0.9176) and outlook is mixed for now. Confirmed rejection by the 55 week EMA will retain medium term bearishness. That is, larger fall from 1.0342 would resume through 0.8756 low at a later stage. However, sustained trading above 55 week EMA will tilt favor to the case of bullish reversal. Focus would then be turned to 0.9471 resistance for confirmation.

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

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9010; (P) 0.9055; (R1) 0.91908631; More

Intraday bias in USD/CHF remains neutral as it’s staying above 0.9009 temporary low. Outlook stays bearish for further fall as long as 0.9197 resistance holds. Break of 0.9009 will resume larger down trend for 100% projection of 1.0237 to 0.9181 from 0.9901 at 0.8845. On the upside, though, break of 0.9197 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained 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 Weekly Outlook

USD/CHF stayed in consolidation above 0.9009 last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 0.9197 resistance holds, outlook remains bearish for further fall. Break of 0.9009 will resume larger down trend for 100% projection of 1.0237 to 0.9181 from 0.9901 at 0.8845. On the upside, though, break of 0.9197 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained 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 Weekly Outlook

USD/CHF dropped to as low as 0.9181 last week but rebounded strongly after hitting 0.9186 key support. At this point, we’re still seeing rebound from 0.9181 as a corrective move. Hence, upside should be limited by 0.9613 support turned resistance. Below 0.9411 minor support will turn bias to the downside for retesting 0.9181 low. . However, sustained break of 0.9613 will indicate bullish reversal and target 0.9484 resistance and above.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). As long as 0.9613 support turned resistance holds, further fall could be seen to 100% projection 1.0342 to 0.9186 from 1.0237 at 0.9081. However, firm break of 0.9613 will suggest that 0.9186 key support (2018 low) was defended. USD/CHF should have then started another rising leg in the long term range pattern, towards resistance zone of 1.0237 and 1.0342 (2016 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 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.

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.

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.

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.

USD/CHF Weekly Outlook

USD/CHF stayed in range of 0.9533/9648 last week and outlook is unchanged. Initial bias is neutral this week first. Focus stays on 0.9626 key fibonacci resistance. Sustained trading above this level 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 indicate 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.

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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9890; (P) 0.9957; (R1) 1.0011; More

USD/CHF rises to as high as 1.0016 and hit 61.8% retracement of 1.0237 to 0.9659 at 1.0016. With 0.9949 minor support intact, intraday bias stays on the upside. Break of 1.0016 will target 78.6% retracement at 1.0113. On the downside, break of 0.9949 will turn intraday bias neutral first. But further rally is expected as long as 0.9843 support holds.

In the bigger picture, the structure of the fall from 1.0237 suggests that it’s a corrective move. Sustained 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. But decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first. Meanwhile, break of 0.9695 support will extend the correction to 0.9541 support instead.

USD/CHF Weekly Outlook

USD/CHF’s decline last week suggests that correction from 0.9901 has started the third leg. Initial bias remains on the downside this week. Break of 0.9592 will target 0.9502 support 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, above 0.9669 minor resistance will turn bias neutral first.

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 Mid-Day Outlook

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

USD/CHF’s rally accelerates to as high as 1.0137 so far. Break of 1.0128 resistance confirms larger up trend resumption. Intraday bias stays on the upside for 100% projection of 0.9716 to 1.0124 from 0.9879 at 1.0287 next. On the downside, below 1.0092 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 resuming. Current rise should now 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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9677; (P) 0.9700; (R1) 0.9735; More

USD/CHF’s rally resumed after brief retreat and intraday bias is back on the upside. Current rise 0.9186 is expected to target 0.9900 fibonacci level next. On the downside, break of 0.9576 support is needed to indicate short term topping. Otherwise, outlook will remain bullish even in case of retreat.

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.

USD/CHF Daily Outlook

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

Rebound from 0.9056 short term top is still in favor to continue 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 0.9121 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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9997; (P) 1.0021; (R1) 1.0040; More

With 0.9982 minor support intact, intraday bias stays on the upside for further rally. 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 0.9731) 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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9206; (P) 0.9231; (R1) 0.9276; More….

Intraday bias in USD/CHF remains on the upside for the moment. Current rise from 0.9084 would target a retest on 0.9367 resistance. On the downside, below 0.9185 minor support will turn intraday bias back to the downside for 0.9084 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) 0.9763; (P) 0.9790; (R1) 0.9806; More

A temporary topis formed at 0.9821 in USD/CHF and intraday bias is turned neutral first. On the downside, break of 0.9762 will suggest completion of recovery from 0.9659. Intraday bias will be turned back to the downside for retesting 0.9659 first. On the upside, above 0.9821 will extend the rebound to 55 day EMA (now at 0.9856). Sustained break will target 0.9975 resistance.

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. Nevertheless, break of 0.9975 resistance is needed to indicate completion of the decline from 1.0237. Otherwise, risk will stay on the downside.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9692; (P) 0.9738; (R1) 0.9766; More

Intraday bias in USD/CHF remains on the downside for the moment. With 0.9716 support broken, next target would be 0.9587 fibonacci level. On the upside, above 0.9783 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited well below 1.0014 resistance to bring fall resumption.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9147; (P) 0.9187; (R1) 0.9220; More

Intraday bias in USD/CHF remains on the downside at this point. Current decline should now target next fibonacci projection level at 0.9081. On the upside, break of 0.9230 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 0.9362 support turned resistance holds, 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). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.