Daily Pivots: (S1) 1.0977; (P) 1.0993; (R1) 1.1011; More…

Intraday bias in EUR/CHF remains neutral at this point. Price actions form 1.0811 are viewed as a consolidation pattern. Upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065). On the downside, break of 1.0964 minor support will turn bias to the downside for retesting 1.0811 low. However, sustained break of 1.1062/5 will carry larger bullish implication and bring stronger rise.

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 possibly below. On the upside, break of 1.1162 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.0839; (P) 1.0853; (R1) 1.0874; More…

EUR/CHF recovers ahead of 1.0811 low and intraday bias is turned neutral first. Consolidation from 1.0811 might extend. But in case of another rise, upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to bring fall resumption eventually. On the downside, sustained break of 1.0811 will resume larger down trend and target 1.0629 key support next.

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 possibly below. On the upside, break of 1.1162 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.0642; (P) 1.0683; (R1) 1.0705; More…

EUR/CHF is staying in consolidation above 1.0650 temporary low and intraday bias remains neutral. Further decline is expected as long as 1.0799 minor resistance holds. Below 1.0650 will target a test on 1.0503 low. Nevertheless, break of 1.0799 will turn bias back to the upside for retesting 1.0915 resistance.

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) 1.0875; (P) 1.0888; (R1) 1.0906; More…

No change in EUR/CHF’s outlook as consolidation from 1.0986 continues. Intraday bias stays neutral for the moment. Deeper fall cannot be ruled out. But downside should be contained by 1.0791/0872 support zone to bring rise resumption. As noted before, the consolidative pattern from 1.1198 should be completed. Firm break of 1.0999 resistance will pave the way for a retest on 1.1198 high.

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 1.0999 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) 1.1360; (P) 1.1376; (R1) 1.1406; More…

EUR/CHF is still bounded in range of 1.1310/1444. Intraday bias remains neutral for the moment. 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) 1.1665; (P) 1.1690; (R1) 1.1731; More…

EUR/CHF rebounds strongly ahead of 1.1584 support. But it’s staying well below 1.1736 resistance and intraday bias remains neutral. As noted before, persistent bearish divergence condition in 4 hour MACD and rising wedge like structure suggests that the cross is near to forming a top, if not formed. Hence, even in case of another rise, we’d expect limited upside potential. On the downside, sustained break of 1.1584 support will be a strong sign of trend reversal and should turn outlook bearish for 38.2% retracement of 1.0629 to 1.1736 at 1.1313.

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 1.1195 resistance turned support holds, we’ll hold on to this bullish view and expect another to prior SNB imposed floor at 1.2000. Though, we’ll reassess the outlook if 1.1195 is firmly taken out.

Daily Pivots: (S1) 1.1360; (P) 1.1378; (R1) 1.1403; More…

Intraday bias in EUR/CHF remains neutral as it’s staying in range of 1.1310/1444. 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) 1.1369; (P) 1.1389; (R1) 1.1420; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1537 is still in progress. On the upside, break of break of 1.1477 resistance will argue that the consolidation from 1.1537 has completed and larger rise is resuming. Further break of 1.1537 will confirm and target 1.2 key resistance level next. On the downside, however, 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, firm 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) 1.1399; (P) 1.1425; (R1) 1.1461; More…

EUR/CHF’s corrective fall from 1.1622 is still in progress and deeper decline is expected for 1.1355. Break will target 1.1257 cluster support (38.2% retracement of 1.0652 to 1.1622 at 1.1251). Strong support is expected there to contain downside and bring rebound. Meanwhile, break of 1.1487 minor resistance will suggest that the pull back is completed and bring retest of 1.1622.

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 1.1198 resistance turned support holds.

Daily Pivots: (S1) 1.0665; (P) 1.0684; (R1) 1.0695; More…

Intraday bias in EUR/CHF remains on the downside at this point. Fall from 1.0877 is seen as the third leg of the pattern from 1.0915. Deeper decline should be seen to 1.0602 support next. On the upside, break of 1.0747 resistance is needed to signal short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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) 1.1307; (P) 1.1330; (R1) 1.1370; More…

EUR/CHF rebounded strongly after hitting 1.1260 and intraday bias is turned neutral first. On the upside, firm break of 1.1356 resistance will argue that the pull back from 1.1501 has completed at 1.1260. In that case, further rise would be seen back to retest 1.1501.

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) 1.1259; (P) 1.1285; (R1) 1.1331; More…

Intraday bias in EUR/CHF remains neutral for the moment. On the downside, break of 1.1224 will resume the decline from 1.1501 to 1.1173 low. On the upside, though, break of 1.1348 resistance should confirm near term reversal and target 1.1501 resistance.

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. 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) 0.9905; (P) 0.9938; (R1) 0.9962; More…

Intraday bias in EUR/CHF stays neutral as sideway trading continues. Near term outlook remains cautiously bullish with 0.9837 minor support intact. Correction from 1.0095 could have completed at 0.9704 already. Break of 0.9995 will affirm this bullish case and target a retest on 1.0095 high. However, break of 0.9837 will dampen this bullish view and turn bias back to the downside for 0.9704 support instead.

In the bigger picture, prior rejection by 55 week EMA (now at 1.1002) and 38.2% retracement of 1.1149 to 0.9407 at 1.0072 suggests that medium term outlook is staying bearish. That is, down trend from 1.2004 is not completed yet and is in favor to resume through 0.9407 at a later stage. However, decisive break of 1.0095 resistance will raise the chance of bullish trend reversal. Rise from 0.9407 should then target 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484).

Daily Pivots: (S1) 1.1523; (P) 1.1541; (R1) 1.1551; More…

No change in EUR/CHF’s outlook as consolidation from 1.1445 is extending. Intraday bias remains neutral and outlook stays bearish with 1.1639 resistance intact. 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) 1.0641; (P) 1.0659; (R1) 1.0684; More…

EUR/CHF recovered but stays in range below 1.0706. Intraday bias remains neutral first. With 1.0706 resistance intact,deeper decline is expected. Firm break of 1.0620 key support level will extend the larger decline from 1.1198 to 1.0485 fibonacci level. However, break of 1.0706 resistance will indicate short term bottoming and turn bias back to the upside. Further break of 1.0749 resistance will raise the chance of medium reversal.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. On the upside, break of 1.0897 resistance is needed to confirm completion of such fall. Otherwise, outlook will stay bearish.

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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) 1.1439; (P) 1.1467; (R1) 1.1483; More…

Despite breaching 1.1487 minor resistance, EUR/CHF fails to sustain above so far. Intraday bias remains neutral first. On the upside, firm break of 1.1487 minor resistance will suggest that the pull back is completed and bring retest of 1.1622. Meanwhile, below 1.1387 will extend the correction from 1.1622 to 1.1257 cluster support (38.2% retracement of 1.0652 to 1.1622 at 1.1251). Strong support is expected there to contain downside and bring rebound.

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 1.1198 resistance turned support holds.

EUR/CHF’s fall from 1.1149 re-accelerated last week and hit as low as 1.0807. The break of 1.0915 resistance turned support now argues that it’s at least correcting whole up trend from 1.0505, with possibility of trend reversal. Intraday bias is now on the downside this week for next cluster support zone at 1.0737, (61.8% retracement of 1.0505 to 1.1149 at 1.0751). On the upside, break of 1.0925 resistance turned support is needed to be the first sign of short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, current development argues that rebound from 1.0505 might be completed at 1.1149 already. Rejection by 55 month EMA (now at 1.1077) at least keeps medium term bearishness open. Sustained break of 1.0737 support will argue that the down trend from 2004 (2018 high) is ready to resume through 1.0505 low. Sustained trading below 55 week EMA (now at 1.0879) will affirm this bearish case.

EUR/CHF surged to as high as 1.0797 last week and closed strongly at 1.0785. The strong break of 1.0749 resistance indicate short term bottoming on bullish convergence condition in 4 hour MACD and daily MACD. More importantly, it’s seen as an early sign of trend reversal after defending 1.0620 key support level. That is, correction from 1.1198 could have completed.

Initial bias is now on the upside this week for a test on 1.0897 resistance. decisive break should confirm this bullish case and target 1.0999 next. On the downside, Bel;ow 1.0749 minor support will turn bias neutral first. But further rise will now remain in favor as long as 1.0689 support holds.

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) 1.0650; (P) 1.0668; (R1) 1.0680; More…

Intraday bias in EUR/CHF remains neutral for the moment. Near term outlook stays mildly bearish as long as 1.0706 minor resistance holds. Break of 1.0620 key support level will extend the larger decline from 1.1198 to 1.0485 fibonacci level. However, considering bullish convergence condition in 4 hour MACD, break of 1.0706 minor resistance will raise the chance of medium term reversal. In that case, focus will be turned back to 1.0749 and then 1.0897 key resistance.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. On the upside, break of 1.0897 resistance is needed to confirm completion of such fall. Otherwise, outlook will stay bearish.

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