Daily Pivots: (S1) 0.9424; (P) 0.9484; (R1) 0.9519; More…

Despite today’s recovery, further decline is expected in EUR/CHF with 0.9543 minor resistance intact. Retest of 0.9507/16 support zone should be seen next. Decisive break there will resume larger down trend. On the upside, touching 0.9543 minor resistance will delay the bearish case and 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. Firm break of 0.9047 support (2022 low) will resume long term down trend. Next target will be 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. For now, outlook will be neutral at best as long as 0.9683 holds.

Daily Pivots: (S1) 1.1655; (P) 1.1683; (R1) 1.1736; More…

EUR/CHF’s rebound extends to as high as 1.1712 so far today. Intraday bias remains on the upside for retesting 1.1832 high. At this point, 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 1.1584 minor support will target 1.1455 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) 1.0001; (P) 1.0023; (R1) 1.0047; More….

EUR/CHF is staying in consolidation below 1.0095 and intraday bias remains neutral. Downside of retreat should be contained by 0.9953 resistance turned support to bring another rally. On the upside, break of 1.0095 will resume the rise to 100% projection of 0.9407 to 0.9953 from 0.9720 at 1.0266 next.

In the bigger picture, break of 38.2% retracement of 1.1149 to 0.9407 at 1.0072 and 55 week EMA (now at 1.0041) is taken as an initial sign of long term bullish reversal. Further rally is expected as long as 55 days EMA (now at 0.9866) holds. Next target is 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484). Reactions from there should reveal long term momentum.

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.

Daily Pivots: (S1) 0.9926; (P) 0.9971; (R1) 1.0002; More….

EUR/CHF’s consolidation from 1.0095 is still extending and intraday bias stays neutral. Deeper fall to 0.9873 cannot be ruled out. But downside should be contained by 38.2% retracement of 0.9407 to 1.0095 at 0.9832 to bring rebound. For now, risk will stay on the downside as long as 1.0067 resistance holds, in case of recovery.

In the bigger picture, the initial rejection by 55 week EMA (now at 1.0039) 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) 1.1736; (P) 1.1750; (R1) 1.1763; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1803 temporary top extends. In case of another rise, we’d stay cautious on strong resistance from 1.1832 to bring reversal. Break of of 1.1649 support will indicate completion of rebound form 1.1445. And the corrective pattern from 1.1832 would then extend with another decline to retest 1.1445. However, firm break of 1.1832 will confirm resumption of larger up trend.

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) 1.0202; (P) 1.0230; (R1) 1.0263; More….

Intraday bias in EUR/CHF stays on the downside at this point. Corrective pattern from 1.0400 is extending with another falling leg. Deeper decline could be seen to 1.0086 support. On the upside, above 1.0289 minor resistance will turn intraday bias neutral first. Further break of 1.0400 resistance will resume the rebound from 0.9970 to 1.0610 structural 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.

Daily Pivots: (S1) 1.0429; (P) 1.0460; (R1) 1.0518; More….

Intraday bias in EUR/CHF remains on the upside for 1.0513 resistance. Decisive break there will resume whole rebound from 0.9970, for 1.0610 structural resistance. On the downside, below 1.0398 minor support will turn intraday bias neutral again.

In the bigger picture, as long as 1.0505 support turned resistance (2020 low) holds, long term down trend from 1.2004 (2018 high) is expected to continue. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. However, firm break of 1.0505 will suggest medium term bottoming, and bring stronger rebound towards 1.1149 structural resistance.

Daily Pivots: (S1) 1.1775; (P) 1.1818; (R1) 1.1866; More…

Intraday bias in EUR/CHF is turned neutral for consolidation above 1.1770 temporary low. With 1864 support turned resistance intact, deeper fall is expected. Break of 1.1770 will target 61.8% retracement of 1.1445 to 1.2004 at 1.1659 and below. Nonetheless, break of 1.1864 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is corrective the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

Daily Pivots: (S1) 0.9883; (P) 0.9899; (R1) 0.9922; More….

EUR/CHF’s break of 0.9953 resistance finally confirms resumption of whole rise from 0.9407. Notable support from 55 day EMA is a bullish sign. Intraday bias is back on the upside. Further rise should be seen to 61.8% projection of 0.9407 to 0.9953 from 0.9720 at 1.0057, which is close to 1.0072 medium term fibonacci level. On the downside, below 0.9896 minor support will dampen the bullish case and turn intraday bias neutral first.

In the bigger picture, as long as 38.2% retracement of 1.1149 to 0.9407 at 1.0072 holds, price actions from 0.9407 medium term bottom will be treated as a corrective pattern. That is, long term down trend would resume through this low at a later stage. Nevertheless, firm break of 1.0072 will also have 55 week EMA (now at 1.0041) taken out. That would be an initial sign of long term bullish reversal.

Daily Pivots: (S1) 0.9450; (P) 0.9488; (R1) 0.9540; More….

EUR/CHF is staying in consolidation from 0.9470 and intraday bias remains neutral at this point. Outlook remains bearish with 0.9712 resistance intact. Break of 0.9407 will resume larger down trend. Next target is 61.8% projection of 1.0512 to 0.9550 from 0.9864 at 0.9269.

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 0.9864 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) 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.

EUR/CHF edged lower last week but failed to break through 1.0503 low. Initial bias remains neutral this week first. Consolidation from 1.0503 could still extend with another rise. But even in that case, upside should be limited below 1.0653 resistance. Eventual downside break out is expected. Sustained break of 1.0503 will resume larger down trend to 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. Stronger rebound would then be seen back to 1.0811/1059 resistance zone.

EUR/CHF’s rebound last week suggests that pull back from 0.9471 has completed at 0.9304 already. Initial bias remains on the upside this week for 0.9471. Firm break there will resume whole rebound from 0.9252 to 100% projection of 0.9252 to 0.9471 from 0.9304 at 0.9523. On the downside, below 0.9395 minor support will turn intraday bias neutral first.

In the bigger picture, price actions from 0.9252 are tentatively seen as a correction to the five-wave down trend from 1.0095 (2023 high). Further rise would be seen to 38.2% retracement of 1.0095 to 0.9252 at 0.9574. But overall medium term outlook will remain bearish as long as 0.9683 resistance holds.

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) 1.0448; (P) 1.0467; (R1) 1.0502; More….

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. On the downside, break of 1.0360 will suggest that rebound from 0.9970 has completed as a three-wave corrective move at 1.0513. That came after rejection by 100% projection of 0.9970 to 1.0086 from 1.0400 at 1.0516 and 1.0505. Intraday bias will be turned back to the downside for 1.0186 support first. On the upside, however, sustained break of 1.0505 long term resistance will carry larger bullish implications. Next target is 161.8% projection at 1.0782.

In the bigger picture, as long as 1.0505 support turned resistance (2020 low) holds, long term down trend from 1.2004 (2018 high) is expected to continue. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. However, firm break of 1.0505 will suggest medium term bottoming, and bring stronger rebound towards 1.1149 structural resistance.

Daily Pivots: (S1) 0.9607; (P) 0.9621; (R1) 0.9645; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 0.9651 is extending. Further rally is in favor as long as 0.9564 minor support holds. Above 0.9651 will resume the rebound form 0.9416 to 0.9691 resistance first. Firm break there will argue that whole decline from 1.0095 has completed at 0.9416, just ahead of 0.9407 support (2022 low). Nevertheless, break of 0.9564 will turn bias back to the downside for deeper fall.

In the bigger picture, as long as 1.0095 resistance holds, price actions from 0.9407 are viewed as a three-wave consolidation pattern first. Current rise from 0.9416 might be the third leg. That is, larger down trend from 1.2004 (2018 high) might still resume through 0.9407 at a later stage. However, decisive break of 1.0095 will argue that the long term down trend is reversing.

Downside momentum in EUR/CHF was relatively unconvincing. But decline from 1.0915 continued last week nonetheless. Further fall is expected this week as long as 1.0698 resistance holds, to retest 1.0503 low. firm break of 1.0698 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for stronger rebound.

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) 0.9769; (P) 0.9828; (R1) 0.9861; More…

Intraday bias in EUR/CHF remains on the downside for the moment. Rebound from 0.9407 could have completed at 1.0095 already, on bearish divergence condition in daily MACD. Deeper fall would be seen to 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Sustained break there will bring deeper fall to retest 0.9407 low. On the upside, above 0.9860 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 55 day EMA (now at 0.9910) holds.

In the bigger picture, rejection by 55 week EMA (now at 1.0011) 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. For now, this will be the favored case as long as 1.0095 resistance holds.

Daily Pivots: (S1) 0.9439; (P) 0.9463; (R1) 0.9480; More…

Intraday bias in EUR/CHF stays neutral at this point, as consolidation from 0.9402 might extend further. Overall outlook stays bearish as long as 0.9543 resistance holds. On the downside, decisive break of 0.9407 will confirm larger down trend resumption.

In the bigger picture, medium term outlook remains bearish as long as 0.9683 resistance holds. Firm break of 0.9407 (2022 low) will resume long term down trend. Next target will be 61.8% projection of 1.1149 (2020 high) to 0.9407 from 1.0095 at 0.9018.

Daily Pivots: (S1) 0.9848; (P) 0.9866; (R1) 0.9901; More….

Intraday bias in EUR/CHF remains on the upside for 61.8% projection of 0.9304 to 0.9847 from 0.9563 at 0.9899. Decisive break there could prompt upside acceleration to 100% projection at 1.0106, which is slightly above 1.0095 key structural resistance. On the downside, below 0.9851 minor support will turn intraday bias neutral and bring consolidations first. But near term outlook will remain bullish as long as 0.9728 support holds, in case of retreat.

In the bigger picture, as long as 0.9563 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Next target is 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.