Wed, Jan 22, 2020 @ 04:33 GMT

USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0011; (P) 1.0044; (R1) 1.0081; More…..

With 1.0007 minor support intact, intraday bias remains on the upside. Rise from 0.9812 should target 1.0169 resistance first. As noted before, corrective decline fall from 1.0342 should have finished with three waves down to 0.9812 already. Break of 1.0169 should confirm this bullish case and target a test on 1.0342 high. On the downside, below 1.0007 minor support will turn bias neutral and bring retreat before staging another rally.

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 another 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) 0.9617; (P) 0.9652; (R1) 0.9675; More……

USD/CHF is still bounded in consolidation pattern from 0.9551 and intraday bias remains neutral for the moment. Outlook also stays bearish as long as 0.9777 resistance holds. Below 0.9620 minor support will turn bias back to the downside first. Further break of 0.9551 will extend the decline from 1.0342 to 0.94443 key support level. At this point, we’d expect strong support from there to bring rebound. Meanwhile, break of 0.9777 will now indicate short term reversal, on bullish convergence condition in 4 hour MACD.

In the bigger picture, USD/CHF is still 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. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9630; (P) 0.9659; (R1) 0.9711; More….

Intraday bias in USD/CHF remains neutral as it’s bounded in range of 0.9582/9772. On the upside, decisive break of 0.9772 resistance will revive the bullish case of reversal. That is, whole decline from 1.0342 has completed at 0.9437 after defending 0.9443 support. USD/CHF should then target channel resistance (now at 0.9862) next. Meanwhile, the pair is bounded inside medium term falling channel and limited below 38.2% retracement of 1.0342 to 0.9437 at 0.9783 for the moment. Break of 0.9582 will turn bias back to the downside for 0.9437. This could also extend the fall from 1.0342 through 0.9437/43 key support level.

In the bigger picture, we’re slightly favoring the case 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. However, firm break of 0.9443 will carry larger bearish implication and would target next key support at 0.9072.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9583; (P) 0.9622; (R1) 0.9643; More……

Break of 0.9620 minor support suggests that recovery from 0.9551 is already completed at 0.9687. Intraday bias is turned back to the downside for 0.9551 low. Break will extend the decline from 1.0342 to 0.94443 key support level. At this point, we’d expect strong support from there to bring rebound. Above 0.9687 will bring another recovery. But overall, outlook will remain bearish as long as 0.9777 resistance holds.

In the bigger picture, USD/CHF is still 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. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Weekly Outlook

USD/CHF dipped to 0.9893 last week but downside momentum was very unconvincing. At this point, we’re slightly favoring the case that 1.0342 is still in progress for another low below 0.9812. But even in that case, such decline is seen as a correction and thus, break of 0.9812 should be brief.

USD/CHF Weekly Chart

Initial bias in USD/CHF remains neutral this week for consolidations above 0.0.9893 temporary low. Deeper fall is expected as long as 0.9999 minor resistance holds. Break below 0.9893 will target 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 argues that fall from 1.0107 is finished, with bullish convergence condition in 4 hour MACD. In that case, intraday bias will be flipped back to the upside for 1.0107 resistance first.

USD/CHF Monthly Chart

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 pair. 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 Weekly Chart

The long term outlook in USD/CHF stays a bit mixed for the moment. But in case of another medium term 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 Monthly Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9603; (P) 0.9639; (R1) 0.9660; More

USD/CHF is staying in range of 0.9594/9772 and intraday bias remains neutral for the moment. Outlook is a bit mixed as the pair is bounded inside medium term falling channel. The pair was also limited below 38.2% retracement of 1.0342 to 0.9437 at 0.9783. Firm break of 0.9594 will dampen our bullish view and turn bias back to the downside for 0.9437. This could also extend the fall through 1.0342 through 0.9437/43 key support level. On the upside, above 0.9772 will revive the bullish case of reversal and turn bias back to the upside.

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) 0.9617; (P) 0.9667; (R1) 0.9747; More….

USD/CHF’s rebound from 0.9420 resumed by taking out 0.9704 resistance. Intraday bias is now back on the upside for 0.9772 key resistance next. Decisive break there will suggest that whole down trend form 1.0342 has completed. In that case, near term outlook will be turned bullish for 0.9860/1.0099 resistance zone. Nonetheless, with 0.9772 resistance intact, outlook remains bearish. Below 0.9587 minor support will turn bias back to the downside for 0.9420 low.

In the bigger picture, current development suggests that 0.9443 key support (2016 low) could be taken out firmly as down trend form 1.0342 extends. There are various interpretation of the price actions. But in any case, medium term outlook will stay bearish as long as 0.9772 resistance holds. Current down trend could extend to 38.2% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.9090. However, break of 0.9772 will indicate that USD/CHF has successfully defended 0.9443 again and turn outlook bullish for 1.0099 resistance.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9847; (P) 0.9875; (R1) 0.9895; More…..

Further decline is expected in USD/CHF for 0.9812 support and below. However, price actions from 1.0342 are seen as a correction. Break of 0.9812 should be brief and we will look for bottoming signal below there. On the upside, break of 0.9956 resistance will suggest that fall from 1.0107 is completed and turn bias back to the upside for this 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 pair. 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 Mid-Day Outlook

Daily Pivots: (S1) 0.9780; (P) 0.9811; (R1) 0.9863; More….

USD/CHF’s rebound was limited at 0.9844 and drops sharply. Intraday bias is turned neutral first with mixed near term outlook. Nonetheless, we’re still slightly favoring that correction from 1.0037 has completed with three waves down to 0.9698. Above 0.9844 will turn bias back to the upside for 0.9977 resistance for confirming this bullish view. However, break of 0.9698 will extend such correction to 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656 before completion.

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) 0.9908; (P) 0.9932; (R1) 0.9972; More…..

USD/CHF is staying in consolidation above 0.9893 temporary low. Intraday bias stays neutral at this point. With 0.9999 minor resistance intact, deeper decline is mildly in favor. Below 0.9893 will target 0.9812 and below to extend the correction from 1.0342. But break of 0.9812 should be brief and we will look for bottoming signal below there. On the upside, above 0.9999 minor resistance argues that fall from 1.0107 is finished, with bullish convergence condition in 4 hour MACD. In that case, intraday bias will be flipped back to the upside for 1.0107 resistance first.

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 pair. 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) 0.9468; (P) 0.9530; (R1) 0.9568; More….

The break of 0.9427 argues that larger decline from 1.0342 is resuming. Intraday bias stays on the downside for the moment. Current fall should now target 61.8% projection of 1.0099 to 0.9437 from 0.9772 at 0.9363 next. On the upside, above 0.9493 minor resistance will turn bias neutral first. But outlook will stay bearish as long as 0.9679 resistance holds.

In the bigger picture, current development suggests that 0.9443 key support (2016 low) could be taken out firmly as down trend form 1.0342 extends. There are various interpretation of the price actions. But in any case, medium term outlook will stay bearish as long as 0.9772 resistance holds. Current down trend could extend to 38.2% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.9090. However, break of 0.9772 will indicate that USD/CHF has successfully defended 0.9443 again and turn outlook bullish for 1.0099 resistance.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9680; (P) 0.9724; (R1) 0.9767; More….

No change in USD/CHF’s outlook and focus remains on 0.9772 key resistance. Decisive break there will suggest that whole down trend form 1.0342 has completed. In that case, near term outlook will be turned bullish for 0.9860/1.0099 resistance zone. Nonetheless, with 0.9772 resistance intact, outlook remains bearish. Below 0.9587 minor support will turn bias back to the downside for retesting 0.9420 low.

In the bigger picture, focus remains on whether 0.9443 key support (2016 low) could be taken out firmly as down trend from 1.0342 extends. There are various interpretation of the price actions. But in any case, medium term outlook will stay bearish as long as 0.9772 resistance holds. Current down trend could extend to 38.2% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.9090. However, break of 0.9772 will indicate that USD/CHF has successfully defended 0.9443 again and turn outlook bullish for 1.0099 resistance.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0004; (P) 1.0016; (R1) 1.0039; More…..

Intraday bias in USD/CHF remains on the upside for the moment. Corrective decline from 1.0342 could have completed at 0.9812 already. Sustained trading above 55 day EMA (now at 1.0022) will affirm this bullish case. Break of 1.0169 resistance will confirm and target a test on 1.0342 high. On the downside, however, below 0.9948 minor support will turn bias back to the downside for 0.9812 instead.

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 another 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) 0.9951; (P) 0.9969; (R1) 0.9995; More…..

With 1.0018 minor resistance intact, intraday bias remains downside in USD/CHF for 0.9860 support. Recovery from 0.9860 has completed at 1.0169 and whole decline from 1.0342 is likely resuming. Break of 0.9860 will target 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. On the upside, above 1.0018 minor resistance will turn bias neutral. But outlook will now stay bearish as long as 1.0169 resistance holds.

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 another 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) 0.9600; (P) 0.9627; (R1) 0.9663; More……

USD/CHF’s consolidation from 0.9551 is still in progress and intraday bias remains neutral. In case of another rise, upside should be limited by 0.9770 resistance and bring fall resumption. Break of 0.9551 will extend the whole fall from 1.0342 and target 0.9443 key support level next. We’d expect strong support from there to bring rebound. Meanwhile, firm break of 0.9770 will indicate near term reversal, on bullish convergence condition in 4 hour MACD.

In the bigger picture, USD/CHF is still 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. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9965; (P) 0.9978; (R1) 0.9998; More…..

USD/CHF lost some downside momentum with 4 hour MACD crossed above signal line. But with 1.0059 minor resistance intact, deeper fall is expected. We’d holding on to the view that recovery from 0.9860 has completed at 1.0169 and whole decline from 1.0342 is resuming. Break of 0.9860 will target 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. Nonetheless, on the upside, break of 1.0059 will turn bias back to the upside for 1.0169 resistance instead.

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 another 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) 0.9939; (P) 0.9952; (R1) 0.9975; More…..

Intraday bias in USD/CHF remains neutral as it’s bounded in tight range above 0.9893 temporary low. With 0.9999 minor resistance intact, deeper decline is mildly in favor. Below 0.9893 will target 0.9812 and below to extend the correction from 1.0342. But break of 0.9812 should be brief and we will look for bottoming signal below there. On the upside, above 0.9999 minor resistance argues that fall from 1.0107 is finished, with bullish convergence condition in 4 hour MACD. In that case, intraday bias will be flipped back to the upside for 1.0107 resistance first.

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 pair. 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 Mid-Day Outlook

Daily Pivots: (S1) 1.0049; (P) 1.0083; (R1) 1.0105; More…..

USD/CHF’s consolidation from 1.0169 is still in progress and intraday bias remains neutral for the moment. Overall, another rise remains mildly in favor with 1.0008 minor support intact. Above 1.0169 will turn bias to the upside and target a test on 1.0342 resistance. Based on neutral medium term outlook, we’d be cautious on topping below 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.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9627; (P) 0.9645; (R1) 0.9670; More…..

No change in USD/CHF’s outlook. Intraday bias remains on the downside and current fall would likely pass through 100% projection of 1.0342 to 0.9860 from 1.0099 at 0.9617. But we’d start to look for bottoming signal again as it approaches 0.9443 key support level. On the upside, above 0.9669 minor resistance will turn intraday bias neutral first. But near term outlook will stay bearish as long as 0.9807 resistance holds.

In the bigger picture, USD/CHF is still 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. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0101; (P) 1.0136; (R1) 1.0165; More…..

USD/CHF’s rise from 0.9860 is still in progress. Intraday bias remains on the upside for a test on 1.0342 key resistance level next. As noted before, 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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