USD/CHF edged lower to 0.9050 last week but quickly recovered. Initial bias remains neutral this week and further fall is in favor as long as 0.9241 resistance holds. Break of 0.9050 will resume larger down trend. Though, break of of 0.9241 will confirm short term bottoming and turn bias to the upside for 0.9376 support turned resistance.

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.

Daily Pivots: (S1) 0.9067; (P) 0.9098; (R1) 0.9130; More…

Intraday bias in USD/CHF remains neutral first. Further decline is still in favor as long as 0.9241 resistance holds. On the downside, break of 0.9050 will resume larger down trend to 61.8% projection of 0.9467 to 0.9056 from 0.9241 at 0.8987. Nevertheless, firm break of 0.9241 will indicate short term bottoming and turn bias back to the upside for rebound.

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.

Daily Pivots: (S1) 0.9067; (P) 0.9098; (R1) 0.9130; More…

Intraday bias in USD/CHF is neutral for the moment as some consolidations could be seen above 0.9050. But outlook will stay bearish as long as 0.9241 resistance holds. On the downside, break of 0.9050 will resume larger down trend to 61.8% projection of 0.9467 to 0.9056 from 0.9241 at 0.8987, and then 100% projection at 0.8830. Nevertheless, firm break of 0.9241 will indicate short term bottoming and turn bias back to the upside for rebound.

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.

Daily Pivots: (S1) 0.9044; (P) 0.9091; (R1) 0.9132; More…

Intraday bias in USD/CHF stays on the downside at this point. Current down trend should target 61.8% projection of 0.9467 to 0.9056 from 0.9241 at 0.8987, and then 100% projection at 0.8830. On the upside, break of 0.9241 resistance is now needed to indicate short term bottoming. Otherwise, outlook will remain 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 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.

Daily Pivots: (S1) 0.9044; (P) 0.9091; (R1) 0.9132; More…

Focus remains on 0.9056 support in USD/CHF. Firm break will resume larger down trend. Next near term targets are 61.8% projection of 0.9467 to 0.9056 from 0.9241 at 0.8987, and then 100% projection at 0.8830. On the upside, break of 0.9241 resistance is now needed to indicate short term bottoming. Otherwise, outlook will remain 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 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.

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

Intraday bias in USD/CHF remains on the downside with focus on 0.9056. Break there will resume larger down trend. Next near term targets are 61.8% projection of 0.9467 to 0.9056 from 0.9241 at 0.8987, and then 100% projection at 0.8830. On the upside, break of 0.9241 resistance is now needed to indicate short term bottoming. Otherwise, outlook will remain 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 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.

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

USD/CHF’s break of 0.9121 minor support suggests that recovery from 0.9056 has completed. Intraday bias is turned back to the downside. Break of 0.9056 will resume larger down trend. On the upside, above 0.9241 will resume the rebound to 0.9376 cluster resistance (38.2% retracement of 0.9901 to 0.9056 at 0.9379).

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.

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.

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.

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.

Daily Pivots: (S1) 0.9080; (P) 0.9115; (R1) 0.9173; More…

USD/CHF’s break of 0.9151 minor resistance suggests short term bottoming at 0.9056, on bullish convergence in 4 hour MACD. Intraday bias is turned back to the upside for 4 hour 55 EMA (now at 0.9203) and above. At this point, we’d expect upside to be limited below 0.9376 support turned resistance. On the downside, break of 0.9056 will extend recent down trend form 0.9901.

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’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.

Daily Pivots: (S1) 0.9070; (P) 0.9111; (R1) 0.9133; More…

At this point, further fall could still be seen in USD/CHF with 0.9151 minor resistance intact. Current decline might target 161.8% projection of 0.9736 to 0.9376 from 0.9467 at 0.8885. On the upside, above 0.9151 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another decline.

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 0.9362 resistance is needed to be the first sign of medium term bottoming.

Daily Pivots: (S1) 0.9070; (P) 0.9111; (R1) 0.9133; More…

USD/CHF’s fall accelerates to as low as 0.9056 so far. Long term projection level of 0.9081 is already met but there is no sign of bottoming yet. Intraday bias remains on the downside. Next near term target will be 161.8% projection of 0.9736 to 0.9376 from 0.9467 at 0.8885. On the upside, above 0.9151 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another decline.

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 0.9362 resistance is needed to be the first sign of medium term bottoming.

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

USD/CHF’s decline is still in progress and intraday bias remains on the downside. Next target is 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.

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.

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

Further fall is expected in USD/CHF with 0.9230 minor resistance intact, despite loss of downside momentum as seen in 4 hour MACD. 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.

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.

Daily Pivots: (S1) 0.9167; (P) 0.9199; (R1) 0.9231; More…

USD/CHF’s fall resumes after brief recovery and intraday bias is back on the downside. Current fall should 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.

Daily Pivots: (S1) 0.9167; (P) 0.9199; (R1) 0.9231; More…

A temporary low was formed at 0.9166 in USD/CHF with 4 hour MACD crossed above signal line. Intraday bias is turned neutral for some consolidations. Upside of recovery should be limited by 0.9362 support turned resistance to bring another fall. On the downside, break of 0.9166 will turn bias back to the downside for next fibonacci projection level at 0.9081.

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.