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) 1.0746; (P) 1.0765; (R1) 1.0780; More…

Intraday bias in EUR/CHF is neutral for some consolidations below 1.0838 temporary top. Further rise is expected 1.0712 support intact. Break of 1.0838 will extend the rise from 1.0602 to 1.0915 resistance first. Break there will resume whole rally from 1.0503 and target 100% projection of 1.0503 to 1.0915 from 1.0602 at 1.1014 next. On the downside, however, break of 1.0712 will dampen this bullish view and turn bias back to the downside for 1.0602 support instead.

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 1.1059/76 will argue that rise from 1.0503 is starting a new up trend and would target 61.8% retracement at 1.1431 and above.

EUR/CHF breached 1.1310 support last week but failed to take out this support decisively. Initial bias remains neutral this week first and more consolidation could be seen. As long as 1.1310 support holds, further rally remains in favor. On the upside, break of 1.1444 will resume the rebound from 1.1181 and target 1.1501 key resistance next. On the downside, firm break of 1.1310 will indicate completion of the rebound. In that case, 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. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

In the long term picture, as long as key support zone of 1.1198 (2016 high) and 61.8% retracement of 1.0629 to 1.2004 at 1.1154 holds, A break of 1.2 key resistance is still expected in the medium to 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) 1.0983; (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) 1.0042; (P) 1.0086; (R1) 1.0117; More….

EUR/CHF’s fall continues today and breaches parity to as low as 0.9990 so far. Intraday bias stays on the downside for retesting 0.9970 low. Decisive break there will resume larger down trend. Next target is 0.9650 long term projection level. On the upside, however, above 1.0214 minor resistance will delay the bearish case, and turn bias back to the upside for stronger rebound.

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) 1.0795; (P) 1.0812; (R1) 1.0834; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.0824 temporary top might extend. Outlook is unchanged that consolidation pattern from 1.0915 has completed with three waves to 1.0661. On the upside, break of 1.0824 will target 1.0877 resistance to confirm this bullish case. However, break of 1.0772 support will likely extend the pattern with another falling leg and turn bias to the downside.

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) 1.0804; (P) 1.0812; (R1) 1.0822; More…

EUR/CHF is staying in consolidation from 1.0824 and intraday bias remains neutral first. Outlook is unchanged that consolidation pattern from 1.0915 has completed with three waves to 1.0661. On the upside, break of 1.0824 will target 1.0877 resistance to confirm this bullish case. However, break of 1.0772 support will likely extend the pattern with another falling leg and turn bias to the downside.

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) 0.9718; (P) 0.9752; (R1) 0.9784; More….

Intraday bias in EUR/CHF stays neutral for the moment. Corrective rise from 0.9550 might still extend higher. But upside should be limited by 38.2% retracement of 1.0512 to 0.9550 at 0.9917 to bring down trend resumption. On the downside, below 0.9696 minor support will turn bias back to the downside for retesting 0.9550 low.

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 0.9970 support turned 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) 0.9626; (P) 0.9641; (R1) 0.9669; More…

EUR/CHF’s rally from 0.9252resumed by breaking through 0.9630 and intraday bias is back on the upside. 161.8% projection of 0.9252 to 0.9471 from 0.9304 at 0.9658 is already met but there is no sign on topping yet. Sustained break of 0.9658 will target 0.9683 key resistance next. On the downside, break of 0.9557 support is needed to indicate short term topping. Otherwise, outlook will stay cautiously bullish in case of retreat.

In the bigger picture, as long as 0.9683 resistance holds, rebound from 0.9252 are seen as a corrective move only. Larger down trend is expected to resume through 0.9252 after the correction completes. However, firm break of 0.9683 and sustained trading above 55 W EMA (now at 0.9620) will argue that 0.9252 is already a medium term bottom. Stronger rise would then be seen 61.8% retracement of 1.0095 to 0.9252 at 0.9773 and above.

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) 1.0980; (P) 1.1006; (R1) 1.1049; More….

EUR/CHF is staying in consolidation form 1.1096 and intraday bias remains neutral at this point. Further rally is expected as long as 1.0915 resistance turned support holds. On the upside, break of 1.1096 will target 100% projection of 1.0503 to 1.0915 from 1.0737 at 1.1149. However, firm break of 1.0915 will argue that the rebound might be completed, and bring deeper fall back to 1.0737 support.

In the bigger picture, immediate focus is now on 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076). Sustained break there will argue that whole down trend from 1.2004 (2018 high) has completed at 1.0503. Rise from there is starting an up trend. Further rise should be seen to 61.8% retracement at 1.1431 and above. Though, rejection by 1.1059/76 will remain medium term bearishness first.

Daily Pivots: (S1) 1.1557; (P) 1.1572; (R1) 1.1586; More….

Intraday bias in EUR/CHF remains neutral at this point. Considering the structure of price actions from 1.1478, another fall is mildly in favor. Break of 1.1478 will urn bias to the downside for 1.1366 first. Break will resume the corrective fall from 1.2004. On the upside, above 1.1656 will resume the rebound from 1.1366 to 61.8% retracement of 1.2004 to 1.1366 at 1.1760. But we would expect strong resistance from there to limit upside.

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) 0.9866; (P) 0.9895; (R1) 0.9914; More….

Intraday bias in EUR/CHF remains neutral for the moment. In cas 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) 1.0868; (P) 1.0882; (R1) 1.0901; More…

EUR/CHF’s recovery from 1.0830 continues today but it’s staying below 1.0908 resistance. Intraday bias remains neutral for the moment. On the upside, break of 1.0908 will indicate that the correction from 1.0986 has completed. In such case, intraday bias is turned back to the upside for retesting 1.0986/0999 resistance zone. In case of another fall, downside should be contained by 1.0791/0872 support zone to bring rebound.

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) 1.1718; (P) 1.1746; (R1) 1.1764; More…

Intraday bias in EUR/CHF remains neutral for the moment. Medium term rise could extend higher. However, considering relatively weak upside momentum as seen in daily MACD we’d still expect strong resistance below 1.2 handle to limit upside and 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 another to prior SNB imposed floor at 1.2000. Though, we’ll reassess the outlook if 1.1198 is firmly taken out.

Daily Pivots: (S1) 1.1619; (P) 1.1648; (R1) 1.1689; More…

EUR/CHF recovered ahead of 1.1597 support but is still stuck in range below 1.1736. Intraday bias remains neutral at this point. We continue to believe that the cross is close to topping, if not formed. This is under persistent bearish divergence condition in 4 hour MACD, and rising wedge like structure since 1.1709. 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.

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.

Daily Pivots: (S1) 1.0955; (P) 1.0969; (R1) 1.0986; More….

Intraday bias in EUR/CHF remains neutral for the moment. On the upside, break of 1.1073 resistance will argue that consolidation form 1.1149 has completed. And, larger rise from 1.0503 is ready to resume through 1.1149. However, firm break of 1.0915 resistance turned support will suggest bearish reversal and turn bias to the downside.

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) 1.1327; (P) 1.1379; (R1) 1.1415; More…

EUR/CHF’s break of 1.1363 minor support suggests that rebound from 1.1242 has completed earlier than expected at 1.1452, ahead of 1.1489 support turned resistance. Intraday bias is turned back to the downside for retesting 1.1242 low first. Break will bring a test on key support zone at 1.1154/98. On the upside, though, above 1.1452 will resume the rebound from 1.1242. Further break of 1.1489 will add to the case of bullish trend reversal.

In the bigger picture, for now, the price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1198 (2016 high), 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 1.1189) 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.

Daily Pivots: (S1) 1.0546; (P) 1.0564; (R1) 1.0578; More…

EUR/CHF is staying in consolidation from 1.0523 and intraday bias remains neutral. 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) 0.9784; (P) 0.9810; (R1) 0.9858; More…

Range trading continues in EUR/CHF and intraday bias stays neutral. Near term outlook will stay bullish as long as 0.9709 support holds. 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 0.9603) holds.