EUR/CHF surged sharply to as high as 1.1405 last week as recent rally accelerated. The strong break of 1.1198 resistance confirmed underlying bullishness. Initial bias remains on the upside this week. Current rise will target 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498. On the downside, below 1.1304 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, sustained 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) 1.1184; (P) 1.1229; (R1) 1.1310; More…

EUR/CHF surges to as high as 1.1362 so far and intraday bias stays on the upside. Current rally is starting 161.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1370. Break there will target 200% projection at 1.1498 next. On the downside, below 1.1245 minor support will turn bias neutral and bring consolidations first. But downside of retreat should be contained well above 1.1087 to bring rally resumption.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of 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. For now, this will be the favored case as long as 1.0986 resistance turned support holds.

Daily Pivots: (S1) 1.1099; (P) 1.1136; (R1) 1.1194; More…

EUR/CHF’s rally accelerates further today and reaches as high as 1.1247 so far. 1.1198 key resistance level is seen as taken out decisively. And there is no sign of topping yet. Intraday bias remains on the upside for 161.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1370. On the downside, below 1.1173 minor support will turn intraday bias neutral and bring consolidations. But downside should be contained well by 1.1087 resistance turned support and bring rise resumption.

In the bigger picture, sustained break of 1.1198 key resistance will confirm resumption of 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. For now, this will be the favored case as long as 1.0986 resistance turned support holds.

Daily Pivots: (S1) 1.1099; (P) 1.1136; (R1) 1.1194; More…

Intraday bias in EUR/CHF remains on the upside as current rally is in progress for 1.1198 key resistance level. 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) 1.1035; (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) 1.1035; (P) 1.1064; (R1) 1.1119; More…

EUR/CHF’s rally resumed by taking out 1.1087 and intraday bias is back on the upside. Current rise is expected to target key resistance at 1.1127/98. On the downside, break of 1.1006 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 1.1198 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) 1.0999; (P) 1.1024; (R1) 1.1041; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.1087. At this point, we’d expect downside to be contained by 1.0986 cluster support (38.2% retracement of 1.0830 to 1.1087 at 1.0989) and bring rise resumption. Break of 1.1087 will target key resistance at 1.1127/98. However, break of 1.0986/89 will indicate short term topping, possibly on bearish divergence condition in daily MACD. In such case, deeper fall would be seen back to 55 day EMA (now at 1.0924) and below.

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) 1.1004; (P) 1.1046; (R1) 1.1070; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.1087. At this point, we’d expect downside to be contained by 1.0986 cluster support (38.2% retracement of 1.0830 to 1.1087 at 1.0989) and bring rise resumption. Break of 1.1087 will target key resistance at 1.1127/98. However, break of 1.0986/89 will indicate short term topping, possibly on bearish divergence condition in daily MACD. In such case, deeper fall would be seen back to 55 day EMA (now at 1.0918) and below.

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.

EUR/CHF edged higher to 1.1087 last week but quickly lost momentum. Initial bias is neutral this week first for consolidation. Downside of retreat should be contained by 1.0986 cluster support (38.2% retracement of 1.0830 to 1.1087 at 1.0989) and bring rise resumption. Break of 1.1087 will target key resistance at 1.1127/98. However, break of 1.0986/89 will indicate short term topping, possibly on bearish divergence condition in dail MACD. In such case, deeper fall would be seen back to 55 day EMA (now at 1.0918) and below.

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) 1.1010; (P) 1.1043; (R1) 1.1096; More…

Breach of 1.1072 indicates resumption of recent rally. Intraday bias is back on the upside to extend the rise from 1.0629 to 1.1127/98 resistance zone. On the downside, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0919).

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. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.0983; (P) 1.1008; (R1) 1.1030; More…

Intraday bias in EUR/CHF remains neutral for the moment. As long as 1.0983 support holds, further rally is expected in the cross. Current rise from 1.0629 should target 1.1127/98 resistance zone. However, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0908).

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. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1010; (P) 1.1040; (R1) 1.1063; More…

EUR/CHF lost momentum after hitting 1.1072 and intraday bias is turned neutral first. As long as 1.0983 support holds, further rally is expected in the cross. Current rise from 1.0629 should target 1.1127/98 resistance zone. However, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0906).

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. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1016; (P) 1.1035; (R1) 1.1066; More…

With 1.0983 support intact, further rally is still expected in EUR/CHF. Current rise from 1.0629 should target 1.1127/98 resistance zone. However, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0906).

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. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.1016; (P) 1.1044; (R1) 1.1076; More…

With 1.0983 support intact, further rally is still expected in EUR/CHF. Current rise from 1.0629 should target 1.1127/98 resistance zone. However, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0899).

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. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

EUR/CHF surged to as high as 1.1072 last week and the development confirmed resumption of whole rally from 1.0629. Initial bias remains on the upside this week for key resistance at 1.1127/98. On the downside, break of 1.0983 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 1.1198 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. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.0991; (P) 1.1015; (R1) 1.1045; More…

EUR/CHF’s rally resumed after brief consolidation and intraday bias is back on the upside. Current rise is expected to target 1.1127 resistance next. On the downside, break of 1.0983 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 should 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) 1.0990; (P) 1.1023; (R1) 1.1048; More…

EUR/CHF’s sharp decline indicates temporary topping at 1.1059. Intraday bias is turned neutral for consolidations. Downside of retreat should be contained above 1.0936 support to bring another rally. Above 1.1059 will target 1.1127 resistance next.

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 should 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) 1.1013; (P) 1.1037; (R1) 1.1074; More…

EUR/CHF’s rise extended to as high as 1.1059 so far and met 61.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1036. Intraday bias remains on the upside for the moment. Sustained trading above 1.1036 will target 100% projection at 1.1164. On the downside, below 1.1010 minor support will turn bias neutral and bring consolidation before staging another rally.

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 should 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) 1.0984; (P) 1.1001; (R1) 1.1024; More…

EUR/CHF’s rally continues today and reaches as high as 1.1023 so far. Intraday bias remains on the upside for 61.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1036 next. Decisive break there will target 100% projection at 1.1164. On the downside, below 1.0988 minor support will turn bias neutral and bring consolidation before staging another rally.

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 should 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) 1.0965; (P) 1.0982; (R1) 1.1004; More…

Intraday bias in EUR/CHF remains on the upside for the moment. Decisive break of 1.0999 medium resistance will target 61.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1036 next. 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.