Sat, Aug 24, 2019 @ 06:56 GMT

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9615; (P) 0.9646; (R1) 0.9676; More…..

USD/CHF is staying in tight range above 0.9613 temporary low for the moment and intraday bias stays neutral first. Deeper decline is still expected as long as 0.9807 resistance holds. But in case of deeper fall, we’d start to look for bottoming signal again as it approaches 0.9443 key support level. However, considering bullish convergence condition in 4 hour MACD, break of 0.9807 will indicate near term reversal and turn outlook bullish for 1.0099 resistance next.

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

- advertisement -

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9968; (P) 1.0004; (R1) 1.0032; More

USD/CHF’s retreat was contained at 0.9956 and recovered. Intraday bias is turned neutral first. More corrective trading could be seen and below 0.9956 will bring deeper fall. But downside should be contained by trend line support (now at 0.9764) to bring rebound. 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.

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9901; (P) 0.9959; (R1) 0.9997; More….

Intraday bias in USD/CHF stays neutral as consolidation from 1.0037 is in progress. As noted before, downside should be contained above 0.9835 resistance turned support and bring rally resumption. On the upside break of 1.0037 will resume whole rally from 0.9420. And with sustained trading above 61.8% retracement of 1.0342 to 0.9420 at 0.9990, USD/CHF should then target a test on 1.0342 key resistance.

In the bigger picture, current development suggests that USD/CHF has defended 0.9443 (2016 low) key support level again. Rise from 0.9420 could is a medium term up move and should target a test on 1.0342 high. This represents the upper end of a long term range that started back in 2015. On the downside, break of 0.9736 support is now needed to indicate completion of the rise from 0.9420. Otherwise, further rally will remain in favor in medium term.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9915; (P) 0.9928; (R1) 0.9946; More…..

Intraday bias in USD/CHF remains neutral for consolidation above 0.9881 temporary low. Deeper decline is in favor as long as 1.0002 minor resistance holds. Break of 0.9860 near term support will extend the whole fall from 1.0342 towards 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. However, break of 1.0002 will argue that fall from 1.0169 is finished and will turn bias back to the upside for this 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

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9714; (P) 0.9749; (R1) 0.9771; More….

USD/CHF is trying to break 0.9772 resistance again and there is not follow through buying yet. Intraday bias remains neutral first. On the upside, decisive break of 0.9772 key resistance 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. However, break of 09669 minor support will suggest rejection from 09772 and turn bias back to the downside for 0.9587 support. Break will target 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

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9929; (P) 0.9959; (R1) 0.9980; More….

Intraday bias in USD/CHF remains neutral for consolidation below 0.9990 temporary top. Deeper retreat might be seen. But downside should be contained above 0.9856 support to bring another rise. As noted before, correction from 1.0128 should have completed at 0.9716 already. On the upside, above 0.9990 will target a test on 1.0128 high next.

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.

- advertisement -

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9901; (P) 0.9939; (R1) 0.9958; More….

Intraday bias in USD/CHF remains neutral for consolidation below 0.9977 temporary top. As noted before, current development argues that correction from 1.0037 has completed at 0.9734 already. Also, rise from 0.9420 might be resuming. On the upside, above 0.9977 will target 1.0037 high first. Break will extend the rise from 0.9420 to 61.8% projection of 0.9420 to 0.9734 from 1.0047 at 1.0115 next. Nevertheless, firm break of 0.9881 support will dampen this immediate bullish case and turn bias to the downside for 0.9734 instead.

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

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.0175; (P) 1.0190; (R1) 1.0205; More

USD/CHF drops sharply in early US session but stays above 1.0130 minor support. Intraday bias remains neutral first. We’d still expect strong support from 1.0130 to contain downside to bring rise resumption. Break of 1.0237 will resume larger up trend to 1.0342 key resistance. However, sustained break of 1.0130 will confirm short term topping. In that case, deeper pull back would be seen back to 55 day EMA (now at 1.0053) and below.

In the bigger picture, medium term up trend from 0.9186 is extending. Current rise should 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.

- advertisement -

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9723; (P) 0.9753; (R1) 0.9771; More….

Intraday bias in USD/CHF stays neutral first. As long as 4 hour 55 EMA (now at 0.9789) holds, deeper fall is mildly in favor. But we’d expect 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656 to contain downside and bring rebound. Sustained break of 4 hour 55 EMA will argue that the correction from 1.0037 has completed and turn focus to 0.9977 resistance for confirmation.

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

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9989; (P) 1.0009; (R1) 1.0023; More….

USD/CHF’s rise from 0.9716 resumed quickly after brief consolidation. Intraday bias is back on the upside for 1.0128 key resistance. Decisive break there will resume larger up trend from 0.9186. On the upside, below 0.9988 minor support will turn intraday bias neutral again. But any retreat should be contained by 0.9908 support to bring rise resumption.

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.

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.0129; (P) 1.0163; (R1) 1.0185; More…..

USD/CHF’s consolidation pattern from 1.0342 is still in progress and intraday bias remains neutral. In case of another fall, we’d expect strong support from 1.0019 to contain downside and bring rally resumption. 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

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9910; (P) 0.9943; (R1) 0.9963; More….

USD/CHF’s consolidation from 0.9990 is in progress and intraday bias remains neutral. Deeper retreat cannot be ruled out. But downside should be contained by 0.9856 resistance turn support to bring another rally. As note before, corrective pull back from 1.0128 has completed at 0.9716 already. Above 0.9990 will extend the rise from 0.9716 to retest 1.0128 high.

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. Break of 0.9963 will affirm this bullish case. 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.

- advertisement -

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9963; (P) 0.9990; (R1) 1.0026; More

Intraday bias in USD/CHF remains on the upside with 0.9955 minor support intact. Current rise should target 1.0067 resistance next. Decisive break there will confirm resumption of larger rise from 0.9186 and should target 1.0342 key resistance next. On the downside, below 0.9955 minor support will turn intraday bias neutral first. But near term outlook will remain bullish as long as 0.9848 support holds.

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.

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9598; (P) 0.9651; (R1) 0.9686; More….

Failure to sustain above 0.9679 and break of 0.9582 minor support maintains bearish in USD/CHF. Intraday bias is turned back to the downside for 0.9420 support first. Break there will resume whole decline from 1.0342. However, break of 0.9704 will turn focus to 0.9772 resistance. Break there will confirm near term reversal.

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

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9772; (P) 0.9821; (R1) 0.9853; More

Intraday bias in USD/CHF is turned neutral with today’s rebound. But outlook is unchanged. Choppy decline is seen as a correction. Below 0.9787 will extend to 0.9724 fibonacci level. We’d expect strong support from there to bring rebound. On the upside, break of 0.9911 minor resistance should indicate completion of the fall, on bullish convergence condition in 4 hour MACD. In such, case, intraday bias will be turned back to the upside for retesting 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. However, sustained break of 0.9724 will dampen this bullish view and would at least bring deeper fall to 61.8% retracement at 0.9518.

- advertisement -

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9949; (P) 0.9970; (R1) 0.9998; More

USD/CHF’s rally resumed by taking out 0.9980. While upside momentum remains unconvincing as seen in 4 hour MACD, intraday bias stays on the upside for 1.0067 key resistance next. On the downside, below 0.9937 will turn intraday bias neutral again. Also, considering bearish divergence condition in 4 hour MACD, break of 0.9848 support will indicate reversal and turn outlook bearish.

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.

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9404; (P) 0.9456; (R1) 0.9490; More….

Intraday bias in USD/CHF remains neutral for consolidation above 0.9420 temporary low. But after all, near term outlook remains bearish as long as 0.9679 resistance holds. Deeper fall is still expected. Sustained break of 0.9420 will target 61.8% projection of 1.0099 to 0.9437 from 0.9772 at 0.9363 first. Break will target 100% projection at 0.9110 next.

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

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9484; (P) 0.9516; (R1) 0.9546; More

USD/CHF lost some momentum after hitting 0.9550. But still intraday bias stays on the upside. The rebound from 0.9186 is in progress for 0.9626 fibonacci level. Firm break there will carry larger bullish implications. On the downside, break of 0.9423 is needed to indicate completion of the rebound. Otherwise, outlook will remain bullish 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.

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9872; (P) 0.9902; (R1) 0.9945; More

USD/CHF rebounds strongly today but it’s staying in range of 0.9855/9991. Intraday bias remains neutral for the moment. . On the downside, break of 0.9855 will extend the corrective pattern from 1.0056 with another fall to 0.9787 and below. Nonetheless, we’d expect strong support from 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound. On the upside, firm break of 0.9991 will target a test on 1.0056 high.

In the bigger picture, rise from 0.9186 is seen as a leg inside the long term range pattern. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds. Above 1.0056 will target 1.0342 (2016 high). In that case, we’d be cautious on strong resistance from 1.0342 to limit upside. However, sustained break of 0.9724 will dampen this bullish view and would at least bring deeper fall to 61.8% retracement at 0.9518.

- advertisement -

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.0015; (P) 1.0035; (R1) 1.0060; More…..

Intraday bias in USD/CHF remains neutral for the moment. Near term outlook is unchanged. That is, corrective from 1.0342 has completed with three waves down to 0.9812. And, rise from 0.9548 is resuming. On the upside, break of 1.0107 will turn bias to the upside for 1.0169 resistance. Break there should confirm our bullish view and should target a test on 1.0342 key resistance next. However, below 0.9980 will dampen this bullish case and turn bias back to the downside for 0.9812 low.

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 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

- advertisement -
- advertisement -