Daily Pivots: (S1) 1.1015; (P) 1.1029; (R1) 1.1049; More….

EUR/CHF is still extending the consolidation pattern from 1.1149 and intraday bias remains neutral. Deeper fall cannot be ruled out, but we’d expect strong support from 1.0954 to bring rebound, and then rally resumption. On the upside, break of 1.1116 will argue that larger rise from 1.0504 is ready to resume through 1.1149 high.

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) 1.0987; (P) 1.1043; (R1) 1.1071; More….

EUR/CHF surged to as high as 1.1096, but failed to sustain above 1.1059/76 long term cluster resistance. Intraday bias is turned neutral first. Some consolidations could be seen but further rally is in favor as long as 1.0915 resistance turned support holds. Sustained break of 1.1059/76 will carry larger bullish implication. Next target will be 100% projection of 1.0503 to 1.0915 from 1.0737 at 1.1149. However, firm break of 1.0915 will indicate rejection by the cluster resistance and turn outlook bearish again.

In the bigger picture, price actions from 1.0503 are still seen as a consolidation pattern. With 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) intact, the down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1059/76 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) 1.0676; (P) 1.0702; (R1) 1.0720; More…

EUR/CHF is staying in consolidation from 1.0661 and intraday bias remains neutral first. As long as 1.0747 resistance holds, further decline is expected. Fall from 1.0877 is seen as the third leg of the pattern from 1.0915. Break of 1.0661 will target 1.0602 support next. However, firm break of 1.0747 should confirm short term bottoming, on bullish convergence condition in 4 hour MACD, and turn intraday bias back to the upside for rebound.

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

EUR/CHF’s fall from 1.0400 extended lower last week but turned sideway after hitting 1.0129. Initial bias is neutral this week first. Rebound from 0.9970 might have completed at 1.0400 already, ahead of 38.2% retracement of 1.1149 to 0.9970 at 1.0420. . Further fall is in favor as long as 1.0242 minor resistance holds. Below 1.0129 will target a retest on 0.9970 low. On the upside, however, break of 1.0242 will turn bias back to the upside for 1.0400 resistance instead.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. In any case, sustained break of 1.0505 support turned resistance (2020 low) is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

In the long term picture, capped below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until some sustained trading above the 55 month EMA (now at 1.0891).

Daily Pivots: (S1) 0.9718; (P) 0.9752; (R1) 0.9784; More….

Intraday bias in EUR/CHF stays neutral for the moment. Corrective rise from 0.9550 might still extend higher. But upside should be limited by 38.2% retracement of 1.0512 to 0.9550 at 0.9917 to bring down trend resumption. On the downside, below 0.9696 minor support will turn bias back to the downside for retesting 0.9550 low.

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.

Daily Pivots: (S1) 1.1377; (P) 1.1407; (R1) 1.1449; More…

Intraday bias in EUR/CHF remains neutral or the moment. On the upside, decisive break of 1.1452 resistance should confirm bullish reversal, after drawing strong support from 1.1154/98 zone. In that case, outlook will be turned bullish for 1.1713 resistance next. However, break of 1.1280 will argue that choppy recovery from 1.1178 has completed and bring retest of 1.1154/98 support zone again.

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 1.1234) 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) 1.1898; (P) 1.1925; (R1) 1.1978; More…

EUR/CHF rises to as high as 1.1979 so far as up trend extends. Intraday bias remains on the upside for 1.2 handle. Sustained break there will target o 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. On the downside, below 1.1910 minor support will turn intraday bias neutral and bring consolidation, below staging another rally.

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.

EUR/CHF dropped sharply to 1.0277 last week but recovered since then. Initial bias is neutral this week first. Further decline is still expected as long as 1.0459 minor resistance holds. Sustained trading below 1.0298 will extend larger down trend target 61.8% projection of 1.0936 to 1.0298 from 1.0610 at 1.0216. However, strong break of 1.0459 will bring further rebound to 1.0610 resistance instead.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. Sustained break there will target 100% projection at 0.9650. In any case, break of 1.0610 resistance is needed to be the first sign of bottoming. Otherwise, outlook will remain bearish.

In the long term picture, prior rejection by 55 month EMA (now at 1.0947) maintains long term bearishness. Down trend from 1.2004 could still extend lower as long as 1.1149 resistance holds.

Daily Pivots: (S1) 1.0877; (P) 1.0898; (R1) 1.0922; More…

EUR/CHF’s break of 1.0922 minor resistance suggests short term bottoming at 1.0832, on bullish convergence condition in 4 hour MACD. Intraday bias is back on the upside for 55 day EMA (now at 1.1023). But upside should be limited by 38.2% retracement of 1.1476 to 1.0832 at 1.1078. On the downside, below 1.0875 minor support will bring retest of 1.0832 instead.

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.

EUR/CHF stayed in range of 1.1178/1342 last week and outlook is unchanged. Initial bias remains neutral this week first. In case of another fall, we’d continue to expect strong support from key support zone of 1.1154/98 to bring reversal. On the upside, break of 1.1342 will reaffirm the case of bullish reversal and target 1.1452 resistance for confirmation. However, sustained break of 1.1154/98 will carry larger bearish implications.

In the bigger picture, for now, the 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 1.1207) 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) 1.0700; (P) 1.0722; (R1) 1.0733; More…

Intraday bias in EUR/CHF remains neutral for the moment. With 1.0689 minor support intact, we continue to favor the case of trend reversal, on bullish convergence condition in daily MACD, after defending 1.0620 key support level. That is, correction from 1.1198 could have completed. Above 1.0823 will target 1.0897 resistance next. However, break of 1.0689 support will dampen our view and turn focus back to 1.0629 low again.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Decisive break of 1.0897 resistance should confirm that it’s completed. And in that case, larger up trend is resuming for another high above 1.1198. Meanwhile, sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485.

Daily Pivots: (S1) 1.0375; (P) 1.0391; (R1) 1.0405; More….

No change in EUR/CHF’s outlook as consolidation from 1.0298 is still extending. Intraday bias stays neutral first. In case of stronger recovery, upside should be limited well below 1.0510 resistance. On the downside, break of 1.0298 will extend the down trend from 1.1149 to 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. However, firm break of 1.0510 will suggests medium term bottoming and bring stronger rebound towards 1.0694 support turned resistance.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. On the upside, firm break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of rebound.

Daily Pivots: (S1) 1.1597; (P) 1.1633; (R1) 1.1664; More…

EUR/CHF’s breach of 1.1618 minor support argues that the corrective rise from 1.1366 has completed with three waves up to 1.1713 already. Intraday bias is now mildly on the downside for 1.1478 support first. Break there will likely resume the whole corrective fall from 1.2004 through 1.1366 low. On the upside, in case of another rally, we’d continue to expect strong resistance from 61.8% retracement of 1.2004 to 1.1366 at 1.1760 to bring near term reversal.

In the bigger picture, 1.2004 is seen as a medium term top with bearish divergence condition in daily and weekly MACD. 1.2000 is also an important resistance level. Hence, the corrective pattern from 1.2004 is expected to extend for a while before completion. Hence, we’re not anticipating a break of 1.2004 in near term. Another decline cannot be ruled out yet. But in that case, strong support should be seen at 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to contain downside.

Daily Pivots: (S1) 1.0737; (P) 1.0764; (R1) 1.0793; More…

Intraday bias in EUR/CHF remains neutral as sideway consolidation continues. With 1.0712 support intact, further rise is expected. On the upside, above 1.0838 will target 1.0915 resistance first. Break there will resume whole rally from 1.0503 to 1.0503. On the downside, break of 1.0712 support will dampen our bullish view. Intraday bias will be turned back to the downside for 1.0602, to extend the corrective pattern from 1.0915 instead.

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 1.1059/76 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) 1.1073; (P) 1.1086; (R1) 1.1098; More….

EUR/CHF is still bounded in consolidation from 1.1149 and intraday bias remains neutral. 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) 0.9792; (P) 0.9807; (R1) 0.9821; More…

EUR/CHF is still extending the consolidation form 0.9847 and intraday bias stays neutral. Near term outlook will remain bullish as long as 0.9709 support holds. Break of 0.9847 will resume larger rise from 0.9252. However, considering bearish divergence condition in 4H MACD, break of 0.9709 will confirm short term topping, and turn bias back to the downside for deeper pullback.

In the bigger picture, a medium term bottom should be in place at 0.9252 already, on bullish convergence condition in W MACD. Rise from there would now target 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even as a correction to the down trend from 1.2004. This will remain the favored case as long as 55 D EMA (now at 0.9625) holds.

EUR/CHF’s rebounded from 1.0324 short term bottom extended to 1.0510 last week but retreated since then. Initial bias remains neutral this week first. Another rise cannot be ruled out yet. But upside should be limited by 38.2% retracement of 1.0936 to 1.0324 at 1.0558. On the downside, firm break of 1.0423 will bring retest of 1.0324 low. Break there will resume larger down trend from 1.1149.

In the bigger picture, long term down trend from 1.2004 (2018 high) is now extending. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. On the upside, firm break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of rebound.

In the long term picture, prior rejection by 55 month EMA (now at 1.0967) maintains long term bearishness. Down trend from 1.2004 is now in progress for 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. Firm break there will target 100% projection at 0.9650.

Daily Pivots: (S1) 0.9702; (P) 0.9728; (R1) 0.9755; More….

EUR/CHF’s down trend is still in progress and intraday bias stays on the downside for 0.9650 long term projection level. Some support might be seen there to bring rebound. But break of 0.9948 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish. Firm break of 0.9650 will target 100% projection of 1.1149 to 0.9970 from 1.0513 at 0.9334.

In the bigger picture, long term down trend from 1.2004 (2018 high) is expected to target 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. Firm break there will target 138.2% projection at 0.9033. On the upside, break of 1.0513 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.

Daily Pivots: (S1) 0.9470; (P) 0.9533; (R1) 0.9593; More…

Intraday bias in EUR/CHF stays on the downside at this point. Sustained break of 61.8% retracement level of 0.9416 to 0.9683 at 0.9518 will pave the way to retest 0.9416 low. On the upside, above 0.9566 minor resistance will turn intraday bias neutral first.

In the bigger picture, rejection by 0.9691 cluster resistance (38.2% retracement of 1.0095 to 0.9416 at 0.9675) maintains medium term bearishness in EUR/CHF. That is, down trend from (1.0095) might not be over yet. Deeper decline would be seen back to 0.9407.16 key support zone. Firm break there will resume long term down trend. For now, outlook will be neutral at best as long as 0.9691 holds.

EUR/CHF stayed in corrective trading below 1.1721 last week. As downside of retreat was contained well above 1.1541 near term support, outlook stays bullish. Decisive break of 1.1721 will resume the medium term tup trend and target 1.2 key level. On the downside, considering bearish divergence condition in 4 hour MACD and daily MACD, decisive break of 1.1541 will confirm topping and turn near term outlook bearish for 1.1355 key support.

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 1.1355 support holds. However, break of 1.1355 will indicate medium term topping. In that case, EUR/CHF should head back to 55 week EMA (now at 1.1142) and possibly below.