EUR/CHF rose to as high as 1.1537 last week and met 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498. A short term top should be formed there on bearish divergence condition in 4 hour MACD. Initial bias is mildly on the downside for 4 hour 55 EMA (now at 1.1349) and below. But downside should be contained by 38.2% retracement of 1.0830 to 1.1537 at 1.1267 and bring rebound. On the upside, break of 1.1537 is needed to confirm rally resumption. Otherwise, we’d expect more consolidation first, with risk of another fall.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

Daily Pivots: (S1) 1.1462; (P) 1.1490; (R1) 1.1521; More…

EUR/CHF turned sideway after meeting 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498. But there is no clear sign of topping yet. Further rise is expected as long as 1.1385 minor support holds. Sustained trading above 1.1498 will target 261.8% projection at 1.1704 next. Nonetheless, considering bearish divergence condition in 4 hour MACD, break of 11385 support will indicate short term topping and bring lengthier consolidation first.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

Daily Pivots: (S1) 1.1423; (P) 1.1473; (R1) 1.1562; More…

EUR/CHF’s really resumed after brief retreat and reaches as high as 1.1523 so far. 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498 is already met but there is no clear sign of topping yet. Intraday bias is back on the upside and firm break of 1.1498 will target 261.8% projection at 1.1704 next. Nonetheless, considering bearish divergence condition in 4 hour MACD, break of 11385 support will indicate short term topping and bring lengthier consolidation first.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

Daily Pivots: (S1) 1.1372; (P) 1.1410; (R1) 1.1435; More…

A temporary top is likely in place at 1.1454 in EUR/CHF with 4 hour MACD staying well below signal line. Intraday bias is turned neutral first and deeper retreat could be seen. But downside should be contained by 4 hour 55 EMA (now at 1.1248) and bring rise resumption. Above 1.1454 will extend recent rise from 1.0629 to 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498. Break will target 261.8% projection at 1.1704 next. Nonetheless, sustained break of 1.1248 will indicate short term topping and bring lengthier consolidation first.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

Daily Pivots: (S1) 1.1371; (P) 1.1412; (R1) 1.1490; More…

EUR/CHF’s rally continues and reaches as high as 1.1454 so far. Intraday bias stays on the upside for 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498. Break will target 261.8% projection at 1.1704 next. On the downside, below 1.1334 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

Daily Pivots: (S1) 1.1291; (P) 1.1349; (R1) 1.1436; More…

With 1.1304 minor support intact, intraday bias in EUR/CHF remains on the upside for the moment. Current rally is expected to l target 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498 next. On the downside, below 1.1304 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

EUR/CHF surged sharply to as high as 1.1405 last week as recent rally accelerated. The strong break of 1.1198 resistance confirmed underlying bullishness. Initial bias remains on the upside this week. Current rise will target 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498. On the downside, below 1.1304 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

Daily Pivots: (S1) 1.1184; (P) 1.1229; (R1) 1.1310; More…

EUR/CHF surges to as high as 1.1362 so far and intraday bias stays on the upside. Current rally is starting 161.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1370. Break there will target 200% projection at 1.1498 next. On the downside, below 1.1245 minor support will turn bias neutral and bring consolidations first. But downside of retreat should be contained well above 1.1087 to bring rally resumption.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.0986 resistance turned support holds.

Daily Pivots: (S1) 1.1099; (P) 1.1136; (R1) 1.1194; More…

EUR/CHF’s rally accelerates further today and reaches as high as 1.1247 so far. 1.1198 key resistance level is seen as taken out decisively. And there is no sign of topping yet. Intraday bias remains on the upside for 161.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1370. On the downside, below 1.1173 minor support will turn intraday bias neutral and bring consolidations. But downside should be contained well by 1.1087 resistance turned support and bring rise resumption.

In the bigger picture, sustained break of 1.1198 key resistance will confirm resumption of the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.0986 resistance turned support holds.

Daily Pivots: (S1) 1.1099; (P) 1.1136; (R1) 1.1194; More…

Intraday bias in EUR/CHF remains on the upside as current rally is in progress for 1.1198 key resistance level. Sustained break there will carry larger bullish implication. In such case, next near term target will be 161.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1370. On the downside, below 1.1106 minor support will turn intraday bias neutral first. But retreat should be contained by 1.1006 to bring rise resumption.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. We’ll favor this bullish case as long as 1.0830 support holds. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1035; (P) 1.1064; (R1) 1.1119; More…

EUR/CHF’s rally accelerates to as high as 1.1173 so far. Intraday bias remains on the upside for 1.1198 key resistance next. Sustained break there will carry larger bullish implication. In such case, next near term target will be 161.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1370. On the downside, below 1.1106 minor support will turn intraday bias neutral first. But retreat should be contained by 1.1006 to bring rise resumption.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. We’ll favor this bullish case as long as 1.0830 support holds. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1035; (P) 1.1064; (R1) 1.1119; More…

EUR/CHF’s rally resumed by taking out 1.1087 and intraday bias is back on the upside. Current rise is expected to target key resistance at 1.1127/98. On the downside, break of 1.1006 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. We’ll favor this bullish case as long as 1.0830 support holds. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.0999; (P) 1.1024; (R1) 1.1041; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.1087. At this point, we’d expect downside to be contained by 1.0986 cluster support (38.2% retracement of 1.0830 to 1.1087 at 1.0989) and bring rise resumption. Break of 1.1087 will target key resistance at 1.1127/98. However, break of 1.0986/89 will indicate short term topping, possibly on bearish divergence condition in daily MACD. In such case, deeper fall would be seen back to 55 day EMA (now at 1.0924) and below.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. We’ll favor this bullish case as long as 1.0830 support holds. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1004; (P) 1.1046; (R1) 1.1070; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.1087. At this point, we’d expect downside to be contained by 1.0986 cluster support (38.2% retracement of 1.0830 to 1.1087 at 1.0989) and bring rise resumption. Break of 1.1087 will target key resistance at 1.1127/98. However, break of 1.0986/89 will indicate short term topping, possibly on bearish divergence condition in daily MACD. In such case, deeper fall would be seen back to 55 day EMA (now at 1.0918) and below.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. We’ll favor this bullish case as long as 1.0830 support holds. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

EUR/CHF edged higher to 1.1087 last week but quickly lost momentum. Initial bias is neutral this week first for consolidation. Downside of retreat should be contained by 1.0986 cluster support (38.2% retracement of 1.0830 to 1.1087 at 1.0989) and bring rise resumption. Break of 1.1087 will target key resistance at 1.1127/98. However, break of 1.0986/89 will indicate short term topping, possibly on bearish divergence condition in dail MACD. In such case, deeper fall would be seen back to 55 day EMA (now at 1.0918) and below.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. We’ll favor this bullish case as long as 1.0830 support holds. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1010; (P) 1.1043; (R1) 1.1096; More…

Breach of 1.1072 indicates resumption of recent rally. Intraday bias is back on the upside to extend the rise from 1.0629 to 1.1127/98 resistance zone. On the downside, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0919).

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.0983; (P) 1.1008; (R1) 1.1030; More…

Intraday bias in EUR/CHF remains neutral for the moment. As long as 1.0983 support holds, further rally is expected in the cross. Current rise from 1.0629 should target 1.1127/98 resistance zone. However, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0908).

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1010; (P) 1.1040; (R1) 1.1063; More…

EUR/CHF lost momentum after hitting 1.1072 and intraday bias is turned neutral first. As long as 1.0983 support holds, further rally is expected in the cross. Current rise from 1.0629 should target 1.1127/98 resistance zone. However, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0906).

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1016; (P) 1.1035; (R1) 1.1066; More…

With 1.0983 support intact, further rally is still expected in EUR/CHF. Current rise from 1.0629 should target 1.1127/98 resistance zone. However, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0906).

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1016; (P) 1.1044; (R1) 1.1076; More…

With 1.0983 support intact, further rally is still expected in EUR/CHF. Current rise from 1.0629 should target 1.1127/98 resistance zone. However, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0899).

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. However, rejection from 1.1198 will extend the multi-year range trading with another fall.