EUR/CHF’s corrective recovery from 1.1162 extended higher last week. Initial bias stays neutral first and more consolidative could be seen. But after all, as long as 1.1256 minor resistance holds, near term outlook remains bearish and further decline is expected. On the downside, decisive break of 1.1154 key fibonacci level will confirm resumption of whole downtrend from 1.2004. That should then pave the way to 61.8% projection of 1.2004 to 1.1173 from 1.1444 at 1.0930. However, break of 1.1256 will indicate short term bottoming and turn bias back to the upside for 1.1310 support turned resistance first.

In the bigger picture, multiple rejection by 55 week EMA indicates medium term bearishness. Focus remains on 1.1154/98 support zone (2016 high and 61.8% retracement of 1.0629 to 1.2004 at 1.1154). Decisive break there will confirm resumption of whole down trend from 1.2004 and long term bearish reversal. EUR/CHF should then target 1.0629 support and below. This will now remain the favored case as long as 1.1444 resistance holds.

In the long term picture, the current development argues that long term up trend has completed at 1.2004 after rejection of 1.2 key resistance. Sustained break of 1.1198 support will confirm this bearish case and target 1.0629 and below.

Daily Pivots: (S1) 1.1359; (P) 1.1396; (R1) 1.1420; More…

EUR/CHF is staying in consolidation from 1.1476 and intraday bias remains neutral first. On the upside, sustained break of 38.2% retracement of 1.2004 to 1.1162 at 1.1484 will confirm completion of corrective fall from 1.2004. Further rally should then be seen to 61.8% retracement at 1.1682 and above. On the downside, sustained break of 55 day EMA (now at 1.1347) will pave the way back to retest 1.1162 low.

In the bigger picture, at this point, we’re slight favoring the case that corrective fall from 1.2004 has completed after being supported by 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Decisive break of 1.1501 resistance should confirm and target 1.1713 resistance next. And, firm break of 1.1154 is needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.

EUR/CHF dipped to 1.1224 last week but recovered since then. Considering bullish convergence condition in 4 hour MACD, a short term bottom is likely in pace. On the upside, break of 1.1301 minor resistance will target 1.1356 resistance first. Decisive break there should confirm near term reversal. In that case, further rally should be seen back to 1.1501 resistance. However, on the downside, below 1.1224 will dampen this bullish case and extend the fall to 1.1173 low instead. But still, we’d expect strong support inside 1.1154/98 key support zone to bring reversal.

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) 1.1218; (P) 1.1241; (R1) 1.1273; More…

EUR/CHF is staying in tight range above 1.1181 and intraday bias remains neutral. In case of another fall, we’d expect strong support from 1.1154/98 support zone to contain downside to bring reversal. On the upside, above 1.1348 resistance will turn bias to the upside for retesting 1.1501 resistance first. However, Sustained break of 1.1154/98 will carry larger bearish implications and extend the whole decline from 1.2004 high.

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) 0.9573; (P) 0.9611; (R1) 0.9637; More…

Intraday bias in EUR/CHF is turned neutral with 4H MACD crossed below signal line. Also, with 0.9670 support turned resistance intact, near term outlook stays bearish for further decline. Break of 0.9520 will resume the fall from 1.0095 towards 0.9407 low. Nevertheless, sustained break of 0.9670 will be the first sign of bullish reversal and target 0.9840 resistance for confirmation.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9876). Down trend from 1.2004 (2018 high) is in favor to continue. Sustained break of 0.9407 will target 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. For now, this will remain the favored case as long as 0.9840 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 0.9566; (P) 0.9581; (R1) 0.9595; More…

EUR/CHF is staying in established range and intraday bias remains neutral for the moment. On the upside, break of 0.9647 will resume the rebound from 0.9520. Further sustained break of 0.9670 will be the first sign of bullish reversal and target 0.9840 resistance for confirmation. On the downside, break of 0.9520 will resume the whole fall from 1.0095 towards 0.9407 low.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9859). Down trend from 1.2004 (2018 high) is in favor to continue. Sustained break of 0.9407 will target 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. For now, this will remain the favored case as long as 0.9840 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.1253; (P) 1.1276; (R1) 1.1316; More…

Considering bullish convergence condition in 4 hour MACD, EUR/CHF’s rebound and break of 1.1277 minor resistance suggests short term bottoming at 1.1224. Intraday bias is turned back to the upside for 1.1356 resistance first. Decisive break there should indicate near term reversal and target 1.1501 key resistance. On the downside, below 1.1224 will dampen this bullish case and extend the fall to 1.1173 low instead. But still, we’d expect strong support inside 1.1154/98 key support zone to bring reversal.

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) 1.0771; (P) 1.0799; (R1) 1.0849; More….

EUR/CHF’s rebound from 1.0694 resumed after brief retreat and intraday bias is back on the upside for 1.0839 resistance. Sustained break there will turn near term outlook bullish for 1.0863/0985 resistance zone. On the downside, break of 1.0739 will turn bias back to the downside for 1.0694 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 1.0859) holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 0.9814; (P) 0.9835; (R1) 0.9851; More…

Intraday bias in EUR/CHF stays neutral and outlook is unchanged. Risk will stay on the upside as long as as long as 0.9774 short term bottom holds. Current development suggests that whole correction from 1.0095 has completed at 0.9704. Break of 0.9878, and sustained trading above 55 D EMA (now at 0.9873) will affirm this bullish case, and target 0.9995 resistance next.

In the bigger picture, prior rejection by 55 W EMA (now at 0.9972) 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. However, decisive break of 1.0095 resistance 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).

Daily Pivots: (S1) 0.9816; (P) 0.9853; (R1) 0.9880; More….

Intraday bias in EUR/CHF remains neutral first and consolidation pattern from 0.9953 could extend further. On the upside, firm break of 0.9953 resistance will resume larger rally from 0.9407 to 1.0072 fibonacci level. However, break of 0.9720 will extend the decline from 0.9953 to 61.8% retracement of 0.8407 to 0.9953 at 0.9616.

In the bigger picture, price actions from 0.9407 medium term bottom are currently seen as a corrective pattern, rather than trend 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) 1.0074; (P) 1.0115; (R1) 1.0141; More….

Intraday bias in EUR/CHF remains on the downside as fall from 1.0400 is extending. As noted before, rebound from 0.9970 could have completed already. Deeper fall is now expected to retest 0.9970 low. Decisive break there will resume larger down trend. On the upside, however, break of 1.0204 minor resistance will turn bias back to the upside for 1.0400 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) 1.0629; (P) 1.0637; (R1) 1.0646; More…

Intraday bias in EUR/CHF is turned neutral with today’s recovery. But further fall is expected as long as 1.0711 resistance holds. On the downside, break of 1.0623 will resume the decline from 1.0915 to retest 1.0503 low. Nevertheless, firm break of 1.0711 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) 1.0944; (P) 1.0973; (R1) 1.0991; More….

No change in EUR/CHF’s outlook and intraday bias remains neutral for the moment. As long as 1.0915 cluster support (38.2% retracement 1.0505 to 1.1149 at 1.0903) holds, we’d still treat the price actions from 1.1149 as a correction. Break of 1.1026 resistance would argue that larger up trend is resuming. However, sustained break of 1.0903/15 will suggest bearish reversal, or at least bring deeper fall to next cluster support zone at 1.0737 support zone (61.8% retracement at 1.0751).

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.

EUR/CHF rebounded strongly last week after hitting 100% projection of 1.0936 to 1.0298 from 1.0610 at 0.9972. But upside is limited by 1.0298 support turned resistance. Initial bias remains neutral this week and further decline remains in favor. On the downside, below 1.0131 minor support will bring retest of 0.9970 low first. On the upside, however, sustained break of 1.0298 will bring stronger rebound towards 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. Firm break there will target 100% projection at 0.9650. In any case, break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

In the long term picture, capped below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until some sustained trading above the 55 month EMA (now at 1.0909).

Daily Pivots: (S1) 0.9524; (P) 0.9540; (R1) 0.9559; More…

Intraday bias in EUR/CHF stays mildly on the downside despite loss of momentum. Sustained break of 100% projection of 0.9995 to 0.9670 from 0.9840 at 0.9515 will extend the fall from 1.0095 towards 0.9407 low. On the upside, above 0.9560 minor resistance will turn intraday bias neutral and bring consolidations. But outlook will stay bearish as long as 0.9670 support turned resistance holds.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9876). Down trend from 1.2004 (2018 high) is in favor to continue. Sustained break of 0.9407 will target 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. For now, this will remain the favored case as long as 0.9840 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.0605; (P) 1.0622; (R1) 1.0634; More…

Intraday bias in EUR/CHF remains on the downside for the moment as there is no clear sign of bottoming yet. Sustained trading below 1.0629 support will target 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. On the upside, break of 1.0737 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. While initial support might be seen from 1.0629 on first attempt, outlook will stay bearish as long as 1.1059 resistance holds. Decisive break of 1.0629 will pave the way to parity next.

Daily Pivots: (S1) 1.1562; (P) 1.1590; (R1) 1.1613; More…

EUR/CHF’s corrective pull back from 1.1709 is still in progress and could extend. But after all, as long as 1.1483 minor support holds, outlook remains bullish and we’d expect further rally ahead. Break of 1.1709 will target 1.2 key level. However, break of 1.1483 will be an early sign of reversal. In that case, deeper decline should be seen back to 1.1355 support.

In the bigger picture, long term rise from SNB spike low back in 2015 is still in progress. EUR/CHF should now be heading back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1355 support holds. However, break of 1.1355 will indicate medium term topping. In that case, EUR/CHF should head back to 55 week EMA (now at 1.1067) and possibly below.

Daily Pivots: (S1) 1.0841; (P) 1.0871; (R1) 1.0885; More…

EUR/CHF’s corrective fall from 1.0986 is still in progress and deeper decline might be seen. Nonetheless, downside should be contained by 1.0791/0872 support zone, probably around 55 day EMA (now at 1.0828). Rise from 1.0629 is expected to resume later. Above 1.0902 minor resistance will turn bias back to the upside for 1.0986/0999.

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) 0.9731; (P) 0.9755; (R1) 0.9803; More…

EUR/CHF is extending the consolidation from 0.9818 and intraday bias remains neutral. Another rally is expected as long 0.9689 support holds. On the upside, above 0.9818 will resume the rise from 0.9252 towards 1.0095 key resistance next. Nevertheless, considering bearish divergence condition in 4H MACD, break of 0.9689 will indicate short term topping, and turn bias back to the downside for 55 D EMA (now at 0.9590) instead.

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 0.9576) holds.

EUR/CHF dipped to 1.1540 last week but formed a temporary low there and recovered. Initial bias stays neutral this week for more consolidations. Upside is expected to limited be limited by 1.1684 resistance to bring fall resumption. As noted before, the decline 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.