EUR/CHF turned into consolidation last week as it recovered. But upside was limited well below 1.1639 resistance. Initial bias stays neutral this week with bearish near term outlook. 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) 1.1508; (P) 1.1540; (R1) 1.1561; More…

EUR/CHF is still bounded in the consolidation from 1.1445 and intraday bias remains neutral. With 1.1639 resistance intact, outlook remains bearish and further decline is expected. Below 1.1445 will extend the corrective fall from 1.1832 to 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) 1.1515; (P) 1.1550; (R1) 1.1602; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1445 is extending. With 1.1639 resistance intact, further decline is expected. Below 1.1445 will extend the corrective fall from 1.1832 to 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) 1.1516; (P) 1.1539; (R1) 1.1571; More…

EUR/CHF is staying in consolidation above 1.1445 and intraday bias remains neutral With 1.1639 resistance intact, further decline is expected. Below 1.1445 will extend the corrective fall from 1.1832 to 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) 1.1503; (P) 1.1526; (R1) 1.1566; More…

Intraday bias in EUR/CHF remains neutral for consolidation above 1.1445 temporary low. As long as 1.1639 resistance holds, further decline is expected. Below 1.1445 will extend the corrective fall from 1.1832 to 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) 1.1460; (P) 1.1493; (R1) 1.1538; More…

Intraday bias in EUR/CHF is turned neutral with a temporary low in place at 1.1445. Deeper decline is expected as long as 1.1639 resistance holds. Below 1.1445 will extend the corrective fall from 1.1832 to 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.

EUR/CHF’s corrective fall from 1.1832 extended lower last week. Initial bias remains on the downside this week for 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. But break of 1.1639 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 1.1407; (P) 1.1500; (R1) 1.1556; More…

EUR/CHF’s decline extends to as low as 1.1445 so far and intraday bias is back on the downside. Current fall from 1.1832 is correcting medium term rise from 1.0629. Next target will be 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) On the upside, break of 1.1639 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 1.1543; (P) 1.1581; (R1) 1.1604; More…

No change in EUR/CHF’s outlook. As long as 1.1639 minor resistance holds, deeper decline is expected. Fall from 1.1832 is correcting medium term rise from 1.0629. Next target will be 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) On the upside, though, above 1.1639 will indicate short term bottoming and bring stronger recovery first.

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) 1.1521; (P) 1.1575; (R1) 1.1638; More…

As long as 1.1639 minor resistance holds, deeper decline is expected in EUR/CHF. Fall from 1.1832 is correcting medium term rise from 1.0629. Next target will be 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) On the upside, though, above 1.1639 will indicate short term bottoming and bring stronger recovery first.

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) 1.1472; (P) 1.1555; (R1) 1.1603; More…

EUR/CHF’s fall from 1.1832 resumed and reaches as low as 1.1507 so far. Intraday bias is back on the downside. As noted before, the decline from 1.1832 is correcting medium term rise from 1.0629. Next target will be 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) On the upside, break of 1.1639 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 1.1570; (P) 1.1596; (R1) 1.1621; More…

Intraday bias in EUR/CHR remains neutral for consolidation above 1.1540. Upside of recovery should be limited by 1.1684 minor resistance to bring fall resumption. As noted before, the decline from 1.1832 is correcting medium term rise from 1.0629. Below 1.1540 will target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.)

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.

EUR/CHF dipped to 1.1540 last week but formed a temporary low there and recovered. Initial bias stays neutral this week for more consolidations. Upside is expected to limited be limited by 1.1684 resistance to bring fall resumption. As noted before, the decline from 1.1832 is correcting medium term rise from 1.0629. Below 1.1540 will target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.)

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) 1.1551; (P) 1.1579; (R1) 1.1609; More…

Intraday bias in EUR/CHF stays neutral for consolidation above 1.1540 temporary low. In case of another recovery, upside should be limited by 1.1684 resistance to bring fall resumption. As noted before, the decline from 1.1832 is correcting medium term rise from 1.0629. Below 1.1540 will target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.)

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) 1.1527; (P) 1.1582; (R1) 1.1613; More…

Intraday bias in EUR/CHF stays neutral for consolidation above 1.1540 temporary low. In case of another recovery, upside should be limited by 1.1684 resistance to bring fall resumption. As noted before, the decline from 1.1832 is correcting medium term rise from 1.0629. Below 1.1540 will target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.)

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) 1.1563; (P) 1.1588; (R1) 1.1609; More…

A temporary low is in place at 1.1540 and intraday bias is turned neutral first. Recovery should be limited by 1.1684 resistance to bring another decline. fall from 1.1832 is correcting medium term rise from 1.0629. Below 1.1540 will target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.)

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) 1.1552; (P) 1.1595; (R1) 1.1649; More…

No change in EUR/CHF’s outlook. Decline from 1.1832 is still in progress. It’s seen as correcting medium term rise from 1.0629. Deeper fall would be seen to 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) On the upside, above 1.1636 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1832 resistance holds.

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) 1.1561; (P) 1.1623; (R1) 1.1658; More…

Intraday bias in EUR/CHF remains on the downside at this point. Fall from 1.1832 is seen as correcting rise from 1.0629. Deeper fall should be seen to 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372. On the upside, above 1.1684 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1832 resistance holds.

In the bigger picture, a medium term should be in place at 1.1832. 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.

EUR/CHF’s decline last week indicates medium term topping at 1.1832, on bearish divergence condition in 4 hour MACD. Fall from 1.1832 is now seen as correcting rise from 1.0629. Initial bias remains on the downside this week for 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372. On the upside, above 1.1684 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1832 resistance holds.

In the bigger picture, a medium term should be in place at 1.1832. 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) 1.1614; (P) 1.1675; (R1) 1.1725; More…

EUR/CHF’s break of 1.1683 support is taken as an early sign of trend reversal. Intraday bias is back to the downside for 1.1602 support first. Sustained break there should confirm our view and bring deeper correction to 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372. On the upside, above 1.1736 minor resistance will turn focus back to 1.1832 high instead.

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.