Daily Pivots: (S1) 1.1668; (P) 1.1692; (R1) 1.1710; More…

EUR/CHF is staying in consolidation below 1.1740 temporary top. Intraday bias remains neutral first. As noted before, pull back from 1.1832 is already completed at 1.1445. Further rise will be in favor as long as 1.1630 minor support holds. Above 1.1740 will target a test on 1.1832 high. We’ll stay cautious strong resistance from there to bring another fall. Corrective pattern from 1.1832 might still have an attempt on 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372) before completion. On the downside, below 1.1630 minor support will target 1.1445 low again.

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) 0.9834; (P) 0.9863; (R1) 0.9880; More….

Intraday bias in EUR/CHF is turned neutral again with today’s steep retreat. On the upside, firm break of 0.9953 resistance will resume larger rally from 0.9407 to 1.0072 fibonacci level. However, break of 0.9779 will likely resume the fall from 0.9953 through 0.9720.

In the bigger picture, rejection by 0.9970 support turned resistance retains medium term bearishness. That is, while 0.9407 is a medium term bottom, price actions from there would develope into a corrective pattern rather than a reversal. Down trend resumption through 0.9407 is mildly favored at a later stage. This will remain the favored case now, as long 38.2% retracement of 1.1149 to 0.9407 at 1.0072 holds.

Daily Pivots: (S1) 0.9629; (P) 0.9692; (R1) 0.9726; More….

EUR/CHF’s steep decline suggests that rebound from 0.9476 has completed at 0.9772 already. Intraday bias is back on the downside. Firm break of 38.2% retracement of 0.9476 to 0.9772 at 0.9659 will target 61.8% retracement at 0.9589 and possibly below. On the upside, above 0.9772 will resume the rally from 0.9476 towards 0.9928 high instead.

In the bigger picture, rebound from 0.9252 medium term bottom might not be completed yet. But even in case of resumption, strong resistance could emerge from 1.0095 to limit upside. Medium term outlook will be neutral at best as long as 1.0094 structural resistance holds. Meanwhile, break of 0.9476 will bring retest of 0.9252 low.

Daily Pivots: (S1) 1.0782; (P) 1.0811; (R1) 1.0827; More….

EUR/CHF’s sharp fall and break of 1.0788 minor support suggests that rebound from 1.0715 has completed earlier than expected at 1.0839. Failure below 55 day EMA retains near term bearishness too. Intraday bias is back on the downside for retesting 1.0715 first. Break will resume whole decline from 1.1149, towards 1.0505 low. On the upside, above 1.0839 will resume the rebound to 38.2% retracement of 1.1149 to 1.0715 at 1.0881.

In the bigger picture, rebound from 1.0505 (2020 low) should have completed at 1.1149 already. The three-wave corrective structure argues that the downtrend from 1.2004 (2018 high) is not over yet. Medium term outlook will now stay bearish as long as 55 week EMA (now at 1.0865) holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 1.0546; (P) 1.0557; (R1) 1.0566; More…

No change in EUR/CHF’s outlook as consolidation from 1.0523 is in progress. Another rise cannot be ruled out but upside outlook will remain bearish as long as 1.0710 resistance holds. On the downside, break of 1.0523 will resume larger down trend to 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. However, on the upside, break of 1.0710 will indicate short term bottoming. Stronger rebound would be seen back to 1.0811/1059 resistance zone.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. Sustained break of 1.0629 will pave the way to parity next. In any case, outlook will remain bearish as long as 1.0811 support turned resistance holds, in case of rebound. However, considering bullish convergence condition in daily MACD, firm of 1.0811 resistance will indicate medium term bottoming.

Daily Pivots: (S1) 1.0985; (P) 1.1002; (R1) 1.1019; More…

No change in EUR/CHF’s outlook as corrective rise from 1.0811 might extend. But 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. On the downside, below 1.0912 minor support will turn intraday bias back to the downside first. Further break of 1.0811 will resume larger down trend from 1.2004.

In the bigger picture, down trend from 1.2004 is (2018 high) 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) 1.1673; (P) 1.1696; (R1) 1.1738; More…

Intraday bias in EUR/CHF remains neutral as it’s still bounded in range below 1.1736. We continue to believe that the cross is close to topping, if not formed. On the downside, decisive break of 1.1597 support will a strong sign of trend reversal and should turn outlook bearish for 38.2% retracement of 1.0629 to 1.1736 at 1.1313. However, strong break of 1.1736 will resume medium term up trend from 1.0629 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 another to prior SNB imposed floor at 1.2000. Though, we’ll reassess the outlook if 1.1198 is firmly taken out.

EUR/CHF stayed in range below 1.0877 resistance last week and outlook is unchanged. Initial bias remains neutral this week first and further rise is in favor with 1.0790 support intact. On the upside, break of 1.088 resistance should confirm that consolidation pattern from 1.0915 has completed at 1.0661. Further rise should be seen to 1.0915 and above. However, on the downside, break of 1.0790 will extend the consolidation with another falling leg, back towards 1.0661 support.

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) 1.0918; (P) 1.0946; (R1) 1.0959; More….

EUR/CHF’s decline was a bit deeper than expected, but it has recovered back above 1.0954 support quickly. Intraday bias remains neutral first and larger rise from 1.0503 is still in favor to resume. Break of 1.1073 resistance will target a test on 1.1149 high first.

In the bigger picture, whole down trend from 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. However, sustained break of 1.0915 will argue that rise from 1.0503 might be completed, and bring deeper fall to 1.0737 support next.

Daily Pivots: (S1) 1.1553; (P) 1.1579; (R1) 1.1594; More…

Downside momentum in EUR/CHF is a bit unconvincing. But still, deeper decline is expected with 1.1637 minor resistance intact. Current fall from 1.1713 should target 1.1478 support first. . Break there will confirm completion of corrective rebound from 1.1366 at 1.1713. EUR/CHF should then resume the decline from 1.2004 through 1.1366. On the upside, above 1.1637 minor resistance will turn bias back to the upside and could extend the rise from 1.1366. But even in that case, we’d 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. 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) 1.0547; (P) 1.0580; (R1) 1.0608; More….

EUR/CHF edged higher to 1.0610 but quickly retreated. Intraday bias remains neutral first. Further rally is expected as long as 1.0439 support holds. A medium term bottom should be in place at 1.0298 already. Sustained trading above 38.2% retracement of 1.1149 to 1.0298 at 1.0623 will raise the chance of trend reversal and target 61.8% retracement at 1.0824 next. However, break of 1.0439 will dampen this bullish view and bring retest of 1.0298 instead.

In the bigger picture, current development suggests that a medium term bottom is formed at 1.0298 on bullish convergence condition in daily MACD. Rebound from there is still tentatively viewed part of a corrective pattern. That is, larger down trend from 1.2004 (2018) could still extend through 1.0298 to 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. However, sustained trading above 55 week EMA (now at 1.0673) will argue that the down trend is over, and bring stronger rise back to 1.1149 next.

Daily Pivots: (S1) 1.1655; (P) 1.1687; (R1) 1.1704; More…

Intraday bias in EUR/CHF is turned neutral with the retreat from 1.1713 temporary top. Another rise could still be seen to 61.8% retracement of 1.2004 to 1.1366 at 1.1760. However, as rebound from 1.1366 is seen as the second leg of the corrective pattern from 1.2004, we’d expect strong resistance from 1.1760 to limit upside. On the downside, below 1.1618 will turn bias back to the downside for 1.1478 support and below. However, sustained trading above 1.1760 will pave the way to retest 1.2004 high next.

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) 1.1270; (P) 1.1290; (R1) 1.1303; More…

Intraday bias in EUR/CHF remains mildly on the downside for 1.1260 support first. Break will resume the whole decline from 1.1501 and target 1.1173 low. On the upside, break of 1.1356 resistance is needed to indicate short term bottoming. Otherwise, near term 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. 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) 1.0363; (P) 1.0377; (R1) 1.0395; More….

Intraday bias in EUR/CHF remains neutral as consolidation from 1.0298 is extending. While stronger recovery cannot be ruled out, 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.

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.

EUR/CHF’s sharp decline last week suggests that rise from 0.9252 has already completed at 0.9928 already. Initial bias stays on the downside this week. Sustained trading below 61.8% retracement of 0.9252 to 0.9928 at 0.9510 will raise the chance of long term down trend resumption, and target 0.9252 low next. For now, outlook will remain bearish as long as 0.9683 resistance holds, in case of recovery.

In the bigger picture, the break of 0.9563 support, as well as 55 W EMA (now at 0.9672) argues that rebound from 0.9252 has completed at 0.9928. Medium term bearish is maintained with both 1.0095 resistance intact. Firm break of 0.9252 will resume the down trend from 1.2004 (2018 high).

In the long term picture, fall from 1.2004 (2018 high) is part of the multi-decade down trend. Firm break of 1.0095 resistance is needed to be the first sign of long term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 0.9845; (P) 0.9872; (R1) 0.9888; More….

Intraday bias in EUR/CHF stays neutral at this point. In case of another fall, downside should be contained by 38.2% retracement of 0.9407 to 1.0095 at 0.9832, to complete the corrective pattern from 1.0095. Break of 0.9923 will turn bias back to the upside for stronger rebound towards 1.0067/0095 resistance zone.

In the bigger picture, the rejection by 55 week EMA (now at 1.0025) mixed up the outlook. On the upside, sustained trading above 55 week EMA 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). However, firm break of 0.9832 support will revive medium term bearishness and bring retest of 0.9407 low instead.

Daily Pivots: (S1) 1.1346; (P) 1.1367; (R1) 1.1390; More…

With 1.1429 minor resistance intact, deeper fall is expected in EUR/CHF. As noted before, corrective rise from 1.1173 could have completed at 1.1501 already. Further fall would be seen to back to 1.1154/98 key support zone again. At this point, we’d still expect this key support zone to hold. On the upside, above 1.1429 minor resistance will turn focus back to 1.1501 first. But still, break there is needed to confirm rally resumption. Otherwise, risk will stay on the downside even in case of strong 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 1.1243) 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) 1.1603; (P) 1.1621; (R1) 1.1644; More….

Intraday bias in EUR?CHF remains neutral at this point as upside was limited below 1.1656 resistance. On the upside, break of 1.1656 will resume the corrective rise from 1.1366 short term bottom. EUR/CHF should target 61.8% retracement of 1.2004 to 1.1366 at 1.1760. But we would expect strong resistance from there to limit upside. We’d still expect at least one more falling leg before the correction from 1.2004 completes. On the downside, break of 1.1478 will turn bias to the downside for 1.1366 first.

In the bigger picture, EUR/CHF was solidly rejected by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily and weekly MACD, 1.2004 should be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Such correction is expected to extend for a while and therefore, 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) 1.1358; (P) 1.1373; (R1) 1.1404; More…

EUR/CHF’s consolidation from 1.1537 is still in progress and intraday bias remains neutral. On the upside, break of 1.1477 resistance will argue that the consolidation from 1.1537 has completed and larger rise is resuming. 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) 1.0535; (P) 1.0558; (R1) 1.0586; More…

EUR/CHF’s rebound from 1.0503 extends higher today and intraday bias stays on the upside. At this point, we’d still expect upside to be limited 1.0653 resistance to bring fall resumption. On the downside, break of 1.0554 minor support will bring retest of 1.0503 low first. Break will target 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress for parity next. In any case, outlook will remain bearish as long as 1.0653 resistance holds. However, considering bullish convergence condition in daily MACD, firm break of 1.0653 resistance will indicate medium term bottoming. Strong rebound would then be seen back to 1.0811/1059 resistance zone.