Daily Pivots: (S1) 1.0698; (P) 1.0711; (R1) 1.0720; More…

EUR/CHF’s fall is still in progress and intraday bias remains on the downside. Current down trend should target 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648. As it’s close to 1.0629 long term support, we’d look for bottoming signal around there. However, break of 1.0788 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Further fall should be seen to 1.0629 support and sustained break will put parity back into focus. On the upside, break of 1.1059 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.0846; (P) 1.0855; (R1) 1.0867; More…

Intraday bias in EUR/CHF remains neutral for the moment. On the downside, break of 1.0837 support will resume the correction from 1.0986 and turn bias to the downside. In that case, we’d continue to expect strong support from 1.0791/0872 support zone to bring rebound. On the upside, break of 1.0908 resistance will argue that such correction is completed and turn bias to the upside for retesting 1.0987/0999 resistance zone.

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 1.0999 resistance will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0791 support holds.

Daily Pivots: (S1) 1.1042; (P) 1.1068; (R1) 1.1087; More….

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1149 is extending. Another fall cannot be ruled out, but downside should be contained by 1.0954 support to bring rally resumption. On the upside, firm break of 1.1149 will resume the rise from 1.0504 and target 161.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.1404.

In the bigger picture, whole down trend from 1.2004 (2018 high) should have completed at 1.0503. Rise from there is starting a medium term up trend. Next target is 61.8% retracement of 1.2004 to 1.0503 at 1.1431 and above. This will now remain the favored case as long as 1.0915 resistance turned support holds.

Daily Pivots: (S1) 0.9554; (P) 0.9620; (R1) 0.9655; More….

EUR/CHF’s fall from 0.9864 resumed by breaking 0.9631 and intraday bias is back on the downside. Retest of 0.9550 low should be seen first. Decisive break there will resume larger down trend. Next target is 61.8% projection of 1.0512 to 0.9550 from 0.9864 at 0.9269. On the upside, above 0.9744 minor resistance will extend the corrective pattern from 0.9550 with another rising leg.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033. On the upside, break of 0.9970 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.

EUR/CHF stayed in consolidation from 1.1445 last week and outlook is unchanged. Initial bias remains neutral this week first. Also, outlook remains bearish with 1.1639 resistance intact and deeper decline is expected. Break of 1.1445 will resume the corrective fall from 1.1832 and target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) At this point, we’d expect strong support from there to contain downside and bring rebound.

In the bigger picture, a medium term top should be in place at 1.1832 on bearish divergence condition in daily MACD. But there is no indication of long term reversal yet. As long as 1.1198 resistance turned support holds, we’d still expect another rise through prior SNB imposed floor at 1.2000.

Daily Pivots: (S1) 1.1371; (P) 1.1396; (R1) 1.1426; More…

Intraday bias in EUR/CHF stays neutral as consolidation from 1.1537 extends. On the upside, break of 1.1537 resistance will confirm resumption of larger rally from 1.0629. In that case, EUR/CHF should target 1.2 key resistance level next. On the downside, firm break of 38.2% retracement of 1.0830 to 1.1537 at 1.1267 will extend the correction to 61.8% retracement at 1.1100 before completion.

In the bigger picture, long term rise from SNB spike low back in 2015 is still in progress. EUR/CHF should now be heading 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) 1.0791; (P) 1.0819; (R1) 1.0838; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.0869 temporary top. We’d expect downside of retreat to be contained by 1.0781 minor support and bring another rally. Above 1.0869 will target 1.0897 resistance next. Break there will confirm trend reversal. Nonetheless, break of 1.0781 will bring deeper fall back towards 1.0652 support instead.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Current strong rebound is raising the chance that it’s completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.0823 resistance will affirm this bullish case. Further break of 1.0999 will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0652 support holds.

Daily Pivots: (S1) 1.1844; (P) 1.1862; (R1) 1.1874; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.1888 temporary top. Downside of retreat should be contained by 1.1748 minor support to bring rise resumption. Above 1.1888 will target 1.2 handle, and then 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188.

In the bigger picture, decisive break of 1.1832 should now extend the medium term up trend through prior SNB imposed floor at 1.2000. 2013 high at 1.2649 should be the next target. Outlook will remain bullish as long as 1.1445 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.0704; (P) 1.0725; (R1) 1.0741; More….

Intraday bias in EUR/CHF remains neutral for the moment, but further decline is expected as long as 1.0770 resistance holds. Decisive break of 1.0694 support will resume whole decline from 1.1149. Next target is 61.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0655. On the upside, though, break of 1.0770 minor resistance will turn bias back to the upside for rebound towards 1.0811 support turned resistance first.

In the bigger picture, the rejection by 55 week EMA maintains medium term bearishness. Fall from 1.1149 (2021 high) is currently seen as the second leg of the patter from 1.0505 (2020 low) first. Hence, in case of deeper fall, we’d look for strong support from 1.0505 to bring rebound. However, sustained break of 1.0505 will resume the long term down trend from 1.2004 (2018 high). Also, medium term outlook will now be neutral at best as long as 1.0936 resistance holds.

Daily Pivots: (S1) 1.1284; (P) 1.1335; (R1) 1.1366; More…

EUR/CHF’s correction from 1.1501 resumed and dipped to as low as 1.1303. While further decline cannot be ruled out, downside should be contained by 61.8% retracement of 1.1173 to 1.1501 at 1.1298 to bring rebound. On the upside, break of 1.1433 resistance will argue that the pull back has completed. Further rise should be seen back to 1.1501 resistance first. Break of 1.1501 will revive the case of bullish trend reversal. However, sustained break of 1.1298 will turn focus back to 1.1173 low.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by support zone of 1.1198 (2016 high) and 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to complete it and bring rebound. This cluster level is in proximity to long term channel support (now at 1.1261) too. A break of 1.2 key resistance is still expected in the medium term long term. However, sustained break of the mentioned support zone will mark reversal of the long term trend. In that case, 1.0629 key support will be back into focus.

Daily Pivots: (S1) 1.0860; (P) 1.0891; (R1) 1.0941; More…

EUR/CHF recovered after dipping to 1.0841 but recovered quickly since then. Intraday bias remains neutral for the moment. On the upside, break of 1.0958 minor resistance will suggest short term bottoming and bring stronger rebound to 1.1062 resistance. Though, break of 1.0841 will extend recent down trend to 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645.

In the bigger picture, current development firstly suggests that down trend from 1.2004 is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Outlook will remain bearish as long as 1.1476 resistance holds. EUR/CHF should target 1.0629 support and below.

Daily Pivots: (S1) 1.0624; (P) 1.0651; (R1) 1.0665; More…

EUR/CHF’s break of 1.0635 suggests resumption of whole decline from 1.0915. Intraday bias is back on the downside for retesting 1.0503 low. On the upside, break of 1.0711 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain cautiously bearish in case of recovery.

In the bigger picture, as long as 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) holds, price actions from 1.0503 are seen as a consolidation pattern. That is, down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1049/76 will argue that rise from 1.0503 is starting a new up trend and would target 61.8% retracement at 1.1431 and above.

Daily Pivots: (S1) 1.1321; (P) 1.1355; (R1) 1.1380; More…

EUR/CHF is staying in range of 1.1310/1444 and intraday bias remains neutral. As long as 1.1310 support holds, further rise is mildly in favor. On the upside, break of 1.1444 will resume the rebound from 1.1181 to 1.1501 key resistance next. Nevertheless, sustained break of 1.1310 will suggest that rebound from 1.1181 might be completed. Intraday bias will be turned back to the downside for 1.1181 low again.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1154/98 support zone to complete it and bring rebound. Decisive break of 1.1501 (38.2% retracement of 1.2004 to 1.1173 at 1.1490) will confirm completion of the correction, on bullish convergence condition in daily MACD. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

Daily Pivots: (S1) 0.9558; (P) 0.9574; (R1) 0.9604; More…

EUR/CHF recovers mildly today but stays in established range. Intraday bias remains neutral at this point. Outlook stays bearish with 0.9601 resistance intact. On the downside, decisive break of 0.9513 will resume the decline from 1.0095, towards 0.9407 low. However, break of 0.9601 resistance will turn bias back to the upside for stronger rebound to 0.9646 resistance and above.

In the bigger picture, medium term outlook is staying bearish as the cross is capped well below falling 55 W EMA (now at 0.9818). Down trend from 1.2004 (2018 high) is in favor to continue. Sustained break of 0.9407 will target 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. For now, this will remain the favored case as long as 0.9670 support turned resistance holds, in case of strong rebound.

EUR/CHF edged higher to 0.9691 last week but turned sideway since then. Initial bias remains neutral this week first, and outlook is unchanged. Further rally is expected as long as 0.9617 support holds. Above 0.9691 will resume the rebound form 0.9513 to 38.2% retracement of 1.0095 to 0.9513 at 0.9735. However, firm break of 0.9617 will turn bias back to the downside for retesting 0.9513 low.

In the bigger picture, medium term outlook will stay bearish as long as the cross is capped well below falling 55 W EMA (now at 0.9804). That is, down trend from 1.2004 (2018 high) could still resume through 0.9407 (2022 low). However, sustained trading above the 55 W EMA will raise the chance that 0.9470 is already a long term bottom. Further rise would then be seen to 1.0095 resistance to indicate bullish trend reversal.

In the long term picture, outlook remains bearish as it’s staying well below 55 M EMA (now at 1.0394). Break of 1.0095 resistance is needed to be the first sign of bottoming, or the multi-decade down trend is expected to continue.

Daily Pivots: (S1) 1.0650; (P) 1.0673; (R1) 1.0716; More…

EUR/CHF is holding below 1.0711 resistance and intraday bias remains neutral first. Further decline remains in favor. On the downside, break of 1.0623 will resume the decline from 1.0915 to retest 1.0503 low. Nevertheless, firm break of 1.0711 will indicate short term bottoming. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, as long as 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) holds, price actions from 1.0503 are seen as a consolidation pattern. That is, down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1049/76 will argue that rise from 1.0503 is starting a new up trend and would target 61.8% retracement at 1.1431 and above.

Daily Pivots: (S1) 0.9656; (P) 0.9672; (R1) 0.9703; More..

Intraday bias in EUR/CHF stays on the upside with focus on 0.9683 resistance. Sustained break there will carry larger bullish implication and target 0.9773 fibonacci resistance. On the downside, though, break of 0.9618 support will indicate short term topping. In this case, intraday bias will be back on the downside for 55 D EMA (now at 0.9527).

In the bigger picture, as long as 0.9683 resistance holds, rebound from 0.9252 are seen as a corrective move only. Larger down trend is expected to resume through 0.9252 after the correction completes. However, firm break of 0.9683 and sustained trading above 55 W EMA (now at 0.9620) will argue that 0.9252 is already a medium term bottom. Stronger rise would then be seen 61.8% retracement of 1.0095 to 0.9252 at 0.9773 and above.

Daily Pivots: (S1) 1.1261; (P) 1.1293; (R1) 1.1310; More…

EUR/CHF’s decline from 1.1501 turns out to be deeper than expected. The break of 61.8% retracement of 1.1173 to 1.1501 at 1.1298 argue that whole rebound from 1.1173 might have completed already. Intraday bias is back on the downside for retesting 1.1173 low. On the upside, break of 1.1356 resistance is now needed to indicate short term bottoming. Otherwise, outlook will be mildly bearish even in case of recovery.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by support zone of 1.1198 (2016 high) and 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to complete it and bring rebound. This cluster level is in proximity to long term channel support (now at 1.1240) too. A break of 1.2 key resistance is still expected in the medium term long term. However, sustained break of the mentioned support zone will mark reversal of the long term trend. In that case, 1.0629 key support will be back into focus.

Daily Pivots: (S1) 1.0581; (P) 1.0607; (R1) 1.0629; More…

EUR/CHF’s rise resumes today by taking out 1.0662 and hits as high as 1.0698 so far. Intraday bias is back on the upside for 1.0710 cluster resistance (38.2% retracement of 1.1059 to 1.0503 at 1.0715). Firms break there will put 1.0811 key resistance in focus. On the downside, break of 1.0589 support is needed to indicate completion of the current rebound. Otherwise, further rally is in favor for the near term, in case of retreats.

In the bigger picture, as long as 1.0811 support turned resistance holds, we’d still expect larger down trend from 1.2004 (2018 high) to extend lower to parity. However, Firm break of 1.0811 should confirm medium term bottoming at 1.0503. Stronger rise should be seen back to 1.1059 resistance and above.

EUR/CHF edged higher to 1.1832 last week but pulled back deeply. But still, downside was held above 1.1683 near term support. Thus, outlook stays bullish for further rally. Again, considering relatively weak upside momentum, in case of another rise, we’d expect strong resistance below 1.2 handle to bring medium term reversal. Break of 1.1683 support will be a early sign of reversal and turn focus to 1.1602 support.

In the bigger picture, while a medium term top could be around the corner, there is no change in the larger outlook. That is, long term rise from SNB spike low back in 2015 is still in progress and would extend. As long as 1.1198 resistance turned support holds, we’ll hold on to this bullish view and expect further rise to prior SNB imposed floor at 1.2000 and above. Though, we’ll reassess the outlook if 1.1198 is firmly taken out.