Daily Pivots: (S1) 0.9750; (P) 0.9773; (R1) 0.9791; More…

Intraday bias in EUR/CHF remains on the upside at this point. Rebound from 0.9670 is in progress. Sustained trading above 55 D EMA (now at 0.9779) will add to case that whole correction from 1.0095 has completed, after hitting 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Further rally should then be seen to 0.9878 resistance next. For now, risk will stay on the upside as long as 0.9670 support holds.

In the bigger picture, prior rejection by 38.2% retracement of 1.1149 to 0.9407 at 1.0072 suggests that medium term outlook is staying bearish. The pair is also capped below 55 W EMA (now at 0.9929). Down trend from 1.2004 (2018 high) is not complete 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).

EUR/CHF’s strong rebound last week suggests that a short term bottom was already formed at 1.0324, on bullish convergence condition in 4 hour and daily MACD. Initial bias is now on the upside this week for 55 day EMA (now at 1.0474). Sustained break there will target 38.2% retracement of 1.0936 to 1.0324 at 1.0558. On the downside, below 1.0397 minor support will bring retest of 1.0324 low instead.

In the bigger picture, long term down trend from 1.2004 (2018 high) is now extending. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. On the upside, break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of rebound.

In the long term picture, rejection by 55 month EMA (now at 1.1015) maintains long term bearishness. Down trend from 1.2004 is now in progress for 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. Firm break there will target 100% projection at 0.9650.

Daily Pivots: (S1) 0.9725; (P) 0.9747; (R1) 0.9771; More…

Intraday bias in EUR/CHF remains mildly on the downside as the choppy decline from 0.9995 is in progress. Strong support should be seen from 0.9704 to bring rebound. Break of 0.9847 will argue that the fall has completed and turn bias back to the downside. However, firm break of 0.9704 will resume the whole decline from 1.0095 to 61.8% retracement of 0.9407 to 1.0095 at 0.9670.

In the bigger picture, prior rejection by 38.2% retracement of 1.1149 to 0.9407 at 1.0072 suggests that medium term outlook is staying bearish. The pair is also capped below 55 W EMA (now at 0.9963). 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).

EUR/CHF failed to sustain above 55 D EMA (now at 0.9443) last week, and reversed from there. Initial bias stays mildly on the downside this week for deeper pull back. But downside should be contained above 0.9252 low to bring rebound. On the upside, above 0.9425 minor resistance will turn bias back to the upside. Further break of 0.9471 will resume the rebound to 38.2% retracement of 1.0095 to 0.9252 at 0.9574.

In the bigger picture, medium term outlook remains bearish as long as 0.9683 resistance holds. Current fall from 1.2004 (2018 high) is part of the multi-decade down trend. Another decline is in favor after rebound from 0.9252 completes. However, firm break of 0.9683, and sustained trading above 55 W EMA (now at 0.9659) will argue that EUR/CHF is already in a medium term rally, even as a corrective move.

In the long term picture, outlook remains bearish as it’s staying well below 55 M EMA (now at 1.0265). Larger down trend from 1.2004 (2018 high) is in progress.

Daily Pivots: (S1) 1.0548; (P) 1.0575; (R1) 1.0602; More…

No change in EUR/CHF’s outlook as it’s staying in corrective pattern from 1.0503. Stronger rebound might be seen through 1.0611. 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) 0.9764; (P) 0.9798; (R1) 0.9831; More….

EUR/CHF is staying in consolidation from 0.9953 and intraday bias remains neutral first. 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, rejection by 0.9970 support turned resistance retains medium term bearishness. That is, while 0.9407 is a medium term bottom, price actions from there would develope into a corrective pattern rather than a 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) 1.1470; (P) 1.1521; (R1) 1.1579; More….

Intraday bias in EUR/CHF remains neutral at this point as consolidation from 1.1366 is in progress. In case of further recovery, upside should be limited by 38.2% retracement of 1.2004 to 1.1366 at 1.1610 to bring another decline. On the downside, break of 1.1366 will resume the fall from 1.2004 and target next key support zone between 1.1154 and 1.1198.

In the bigger picture, current development suggests solid rejection 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. Deeper fall would be seen to key cluster level at 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154. We’d expect strong support around there to contain downside and bring rebound.

EUR/CHF’s sideway trading continued last week and outlook is unchanged. Initial bias remains neutral this week first, and larger down trend is still in favor to continue. On the downside, decisive break of 0.9513 will resume the decline from 1.0095, towards 0.9407 low. However, break of 0.9601 resistance will turn bias back to the upside for stronger rebound to 0.9646 resistance and above.

In the bigger picture, medium term outlook is staying bearish as the cross is capped well below falling 55 W EMA (now at 0.9818). 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 0.9670 support turned resistance holds, in case of strong rebound.

In the long term picture, outlook remains bearish as it’s staying well below 55 M EMA (now at 1.0391). Break of 1.00095 resistance is needed to be the first sign of bottoming, or the multi-decade down trend is expected to continue.

Daily Pivots: (S1) 1.0865; (P) 1.0891; (R1) 1.0921; More….

EUR/CHF’s rally continues today and hits as high as 1.0947 so far today. the break of 1.0915 resistance confirms resumption of larger rebound from 1.0503. Intraday bias stays on the upside for 61.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.0992 next. On the downside, below 1.0874 minor support will turn intraday bias neutral and bring consolidations first.

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) 1.0959; (P) 1.0991; (R1) 1.1008; More….

EUR/CHF’s consolidation from 1.1149 is still extending and outlook is unchanged. Deeper decline cannot be ruled out, but we’d continue to expect strong support from 1.0954 bring rebound. On the upside, break of 1.1073 resistance will argue that larger rise from 1.0503 is ready to resume through 1.1149. However, firm break of 1.0954 will be the first signal of larger reversal and turn focus to 1.0915 resistance turned support.

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) 1.1665; (P) 1.1701; (R1) 1.1721; More…

Intraday bias in EUR/CHF remains neutral at this point. We’d maintain that it’s close to topping. And in case of another rise, strong resistance should be seen well below 1.2 handle to bring medium term reversal. On the downside, break of 1.1602 support will indicate reversal and turn outlook bearish for 1.1387 and below.

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.

EUR/CHF’s decline last week indicates medium term topping at 1.1832, on bearish divergence condition in 4 hour MACD. Fall from 1.1832 is now seen as correcting rise from 1.0629. Initial bias remains on the downside this week for 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372. On the upside, above 1.1684 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1832 resistance holds.

In the bigger picture, a medium term should be in place at 1.1832. 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) 1.1372; (P) 1.1395; (R1) 1.1420; More…

Intraday bias in EUR/CHF remains neutral as it’s staying in tight range below 1.1452 resistance. On the downside, break of 1.1361 minor support will suggest rejection by 1.1452 resistance. Intraday bias will then be turned back to the downsides for retesting 1.1154/98. On the upside, decisive break of 1.1452 resistance should confirm bullish reversal, after drawing strong support from 1.1154/98 zone. In that case, outlook will be turned bullish for 1.1713 resistance next.

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. This cluster level is in proximity to long term channel support (now at 1.1234) 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. In that case, 1.0629 key support will be back into focus.

Daily Pivots: (S1) 1.0282; (P) 1.0308; (R1) 1.0352; More….

Intraday bias in EUR/CHF remains neutral and further fall is expected with 1.0359 minor resistance intact. Corrective rebound from 0.9970 should have completed with three waves up to 1.0513, after rejection by 1.0505 key resistance. Below 1.0228 will target 1.0086 support. Firm break there will bring retest of 0.9970 low. However, break of 1.0359 will dampen this bearish view and bring stronger recovery back towards 1.0513 resistance.

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.

EUR/CHF gyrated lower last week as correction from 1.1149 extended. Outlook is unchanged and initial bias stays neutral first. Downside of pull back should be contained by 1.0954 support to bring rally resumption. On the upside, firm break of 1.1149 will resume the rise from 1.0504 and target 161.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.1404.

In the bigger picture, current development suggests that whole down trend from 1.2004 (2018 high) has 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.

Daily Pivots: (S1) 0.9658; (P) 0.9676; (R1) 0.9694; More…

Intraday bias in EUR/CHF is turned neutral again as it retreated again after edging higher to 0.9691. For now, further rally will stay in favor as long as 0.9617 support holds. Above 0.9691 will resume the rise from 0.9513 to 38.2% retracement of 1.0095 to 0.9513 at 0.9735. However, firm break of 0.9617 will turn bias back to the downside for retesting 0.9513 low.

In the bigger picture, medium term outlook will stay bearish as long as the cross is capped well below falling 55 W EMA (now at 0.9799). That is, down trend from 1.2004 (2018 high) could still resume through 0.9407 (2022 low). However, sustained trading above the 55 W EMA will raise the chance that 0.9470 is already a long term bottom. Further rise would then be seen to 1.0095 resistance to indicate bullish trend reversal.

EUR/CHF edged lower to 1.0863 last week but turned sideway since then. Initial bias remains neutral this week for consolidations first. In case of another recovery, upside should be limited below 1.1062 resistance to bring fall resumption. On the downside, break of 1.0863 will target 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645.

In the bigger picture, current development firstly suggests that down trend from 1.2004 is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Outlook will remain bearish as long as 1.1476 resistance holds. EUR/CHF should target 1.0629 support and below.

Daily Pivots: (S1) 1.1217; (P) 1.1264; (R1) 1.1306; More…

Intraday bias in EUR/CHF remains neutral as range trading continues. In case of another fall, we’d continue to expect strong support from key support zone of 1.1154/98 to bring reversal. On the upside, break of 1.1342 will reaffirm the case of bullish reversal and target 1.1452 resistance for confirmation. However, sustained break of 1.1154/98 will carry larger bearish implications.

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 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. This cluster level is in proximity to long term channel support (now at 1.1207) 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. In that case, 1.0629 key support will be back into focus.

Daily Pivots: (S1) 1.0559; (P) 1.0584; (R1) 1.0621; More…

EUR/CHF drew strong support form 4 hour 55 EMA and rebounded after brief retreat. Outlook is unchanged that corrective rise from 1.0503 is still in progress. Break of 1.0611 cannot be ruled out. 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) 1.1371; (P) 1.1396; (R1) 1.1426; More…

Intraday bias in EUR/CHF stays neutral as consolidation from 1.1537 extends. On the upside, break of 1.1537 resistance will confirm resumption of larger rally from 1.0629. In that case, EUR/CHF should target 1.2 key resistance level next. On the downside, firm break of 38.2% retracement of 1.0830 to 1.1537 at 1.1267 will extend the correction to 61.8% retracement at 1.1100 before completion.

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 1.1087 resistance turned support holds.