Daily Pivots: (S1) 1.0813; (P) 1.0829; (R1) 1.0845; More….

Intraday bias in EUR/CHF stays mildly on the downside at this point. Rebound from 1.0694 could have completed at 1.0936 already. Deeper fall would be seen back to retest 1.0694 low. Break there will resume whole decline from 1.1149. On the upside, break of 1.0884 minor resistance will turn bias back to the upside for 1.0936 again.

In the bigger picture, the stronger than expected rebound from 1.0694 and break of 55 week EMA (now at 1.0861) mixes up the medium term outlook. On the upside, break of 1.1149 will resume the whole rise from 1.0505 (2020 low). On the downside, break of 1.0694 will revive some medium term bearishness for 1.0505 and below.

Daily Pivots: (S1) 1.0862; (P) 1.0886; (R1) 1.0903; 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) 1.0714; (P) 1.0726; (R1) 1.0739; More…

No change in EUR/CHF"s outlook as it’s staying in recent range. Intraday bias stays neutral. The corrective price actions and its stay below falling 55 days EMA affirmed near term bearishness. Break of 1.0677 will extend recent decline to 1.0620 key support level. On the upside, above 1.0762 will turn focus back to 1.0897 resistance. But decisive break there is needed to confirm trend reversal. Otherwise, outlook will stay bearish for another fall later.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress and retest of 38.2% retracement of 0.9771 to 1.1198 at 1.0653 could be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. Meanwhile, break of 1.0897 resistance will argue that the larger up trend is finally resuming for above 1.1198.

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Daily Pivots: (S1) 1.0724; (P) 1.0737; (R1) 1.0753; More…

EUR/CHF recovers mildly and stays below 1.0762 resistance and 55 day EMA. Intraday bias remains neutral for the moment. The corrective price actions from 1.0677 affirmed near term bearishness. Break of 1.0677 will extend recent decline to 1.0620 key support level. On the upside, above 1.0762 will turn focus back to 1.0897 resistance. But decisive break there is needed to confirm trend reversal. Otherwise, outlook will stay bearish for another fall later.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress and retest of 38.2% retracement of 0.9771 to 1.1198 at 1.0653 could be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. Meanwhile, break of 1.0897 resistance will argue that the larger up trend is finally resuming for above 1.1198.

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Daily Pivots: (S1) 1.0992; (P) 1.1008; (R1) 1.1026; More…

No change in EUR/CHF’s outlook as it’s staying in tight range above 1.0964 minor support. Intraday bias remains neutral first. 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) 1.0807; (P) 1.0833; (R1) 1.0850; More….

Intraday bias in EUR/CHF is turned neutral with today’s retreat first. On the upside, firm break of 1.0871 will suggest that whole rebound from 1.0503 is resuming. Further rally should be seen through 1.0915 resistance to 61.8% projection of 1.0503 to 1.0915 from 1.0735 at 1.0990.

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) 1.1729; (P) 1.1752; (R1) 1.1792; More…

Intraday bias in EUR/CHF stays neutral first. As 1.1683 support holds, near term 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.

Daily Pivots: (S1) 1.0925; (P) 1.0949; (R1) 1.0969; More…

A temporary top is in place at 1.0977 in EUR/CHF and intraday bias is turned neutral for the moment. Some consolidations could be seen but downside of retreat 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) 1.0515; (P) 1.0532; (R1) 1.0543; More…

EUR/CHF is staying in consolidation from 1.0503 and intraday bias remains neutral for the moment. Another rise cannot be ruled out as consolidation extends. But upside should be limited by 1.0653 resistance to bring down trend resumption. On the downside, break of 1.0503 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.

Daily Pivots: (S1) 1.0889; (P) 1.0908; (R1) 1.0927; More…

No change in EUR/CHF’s outlook as consolidation from 1.0986 extends. Intraday bias remains neutral for the moment. Deeper fall could be seen but downside is expected to 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) 1.0702; (P) 1.0730; (R1) 1.0744; More….

Intraday bias in EUR/CHF is turned neutral for now as sideway trading extends above 1.0694 temporary low. Outlook will stay bearish as long as 1.0839 resistance holds. On the downside, break of 1.0694 will resume larger fall from 1.1149. Next target is 61.8% projection of 1.0985 to 1.0715 from 1.0839 at 1.0672 first. Break will target 100% projection at 1.0569 next.

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 1.0863) holds. Break of 1.0505 low would be seen at a later stage.

EUR/CHF’s down trend resumed after brief recovery and hit as low as 1.0657. Initial bias stays on the downside this week. Firm break of 61.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0655 will target 100% projection at 1.0481, which is close to 1.0505 key long term support. On the upside, break of 1.0764 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, 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.

In the long term picture, rejection by 55 month EMA (now at 1.1037) maintains long term bearishness. Break of 1.0505 low will resume the down trend from 1.2004 to 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223.

Daily Pivots: (S1) 1.0831; (P) 1.0845; (R1) 1.0867; More….

Intraday bias in EUR/CHF remains neutral and consolidation form 1.0802 is still extending. Outlook remains bearish as long as 1.0985 resistance intact. On the downside, break of 1.0802 will resume the decline from 1.1149, to 1.0737 cluster support next.

In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed with three waves up to 1.1149 already. Sustained trading below 55 week EMA (now at 1.0882) will affirm this bearish case. Further break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) will bring retest of 1.0505 low.

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0632; (P) 1.0645; (R1) 1.0655; More…

EUR/CHF continued to stay in range above 1.0629 last week without any new development. Initial bias remains neutral this week first. As 1.0706 resistance stays intact, deeper decline is still expected in the cross. 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.

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) 1.0533; (P) 1.0547; (R1) 1.0560; More…

No change in EUR/CHF’s outlook as consolidation from 1.0523 is extending. Intraday bias stays neutral first. 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) 1.0782; (P) 1.0811; (R1) 1.0827; More….

Intraday bias in EUR/CHF remains neutral at this point. With 1.0788 minor support intact, another rise is still mildly in favor. On the upside, above 1.0839 will resume the rebound from 1.0715 short term bottom to 38.2% retracement of 1.1149 to 1.0715 at 1.0881. We’d monitor the reaction to 1.0881 to assess the chance of bullish reversal. On the downside, break of 1.0788 minor support will turn bias back to the downside for retesting 1.0715 low instead.

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 1.0869) holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 1.0942; (P) 1.0967; (R1) 1.0995; More…

Despite relatively unconvincing upside momentum, EUR/CHF’s rally extended through 1.0986, which confirms resumption of rise from 1.0629. Intraday bias is back on the upside for 1.0999 and then 61.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1036. On the downside, break of 1.0936 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 1.0830 support holds.

Daily Pivots: (S1) 1.0887; (P) 1.0900; (R1) 1.0914; More….

Intraday bias in EUR/CHF remains neutral first and outlook stays bearish with 1.0925 support turned resistance intact. On the downside, break of 1.0863 will resume the fall from 1.1149 to next cluster support zone at 1.0737, (61.8% retracement of 1.0505 to 1.1149 at 1.0751). Nevertheless, firm break of 1.0925 will indicate short term bottoming, and turn bias back to the upside for 1.1026 resistance.

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.

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.