Daily Pivots: (S1) 1.1068; (P) 1.1084; (R1) 1.1113; More….

Intraday bias in EUR/CHF stays neutral first with focus on 1.1096 resistance. Decisive break there will extend the whole rebound from 1.0503 to 100% projection of 1.0503 to 1.0915 from 1.0737 at 1.1149. In any case, outlook will stay bullish as long as 1.0915 resistance turned support holds.

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) 1.1644; (P) 1.1668; (R1) 1.1711; More…

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. As noted before, persistent bearish divergence condition in 4 hour MACD and rising wedge like structure suggests that the cross is near to forming a top, if not formed. Hence, even in case of another rise, we’d expect limited upside potential. On the downside, sustained break of 1.1584 support will be 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 1.1195 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 1.1195 is firmly taken out.

Despite edging higher to 1.1777 last week, EUR/CHF quickly reversed and closed at 1.1720. We’re holding on to the view that it’s close to topping, if not formed. And even in case of another rise, strong resistance should be seen well below 1.2 handle to bring medium term reversal. On the downside, below 1.1670 minor support will turn bias to the downside for 1.1602 support first. Further break of 1.1602 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.

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) 1.1614; (P) 1.1675; (R1) 1.1725; More…

EUR/CHF’s break of 1.1683 support is taken as an early sign of trend reversal. Intraday bias is back to the downside for 1.1602 support first. Sustained break there should confirm our view and bring deeper correction to 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372. On the upside, above 1.1736 minor resistance will turn focus back to 1.1832 high instead.

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 further rise to prior SNB imposed floor at 1.2000 and above. Though, we’ll reassess the outlook if 1.1198 is firmly taken out.

EUR/CHF rebounded further to as high as 1.1039 last week but over all outlook is unchanged. Price actions from 1.0811 are viewed as a consolidation pattern. Thus, upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065). On the downside, below 1.0964 minor support will turn bias back to the downside for retesting 1.0811. However, sustained break of 1.1062/5 will carry larger bullish implication and bring stronger rise.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Further fall should be seen to 1.0629 support and possibly below. On the upside, break of 1.1162 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

EUR/CHF continued to stay in sideway consolidation from 1.0665 last week and outlook is unchanged. Initial bias stays neutral this week first and further fall cannot be ruled out. But we’d continue to expect strong support from 1.0629, which is close to 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648, to contain downside and bring rebound. On the upside, break of 1.0788 will confirm short term bottoming, on bullish convergence condition in 4 hour MACD, and turn bias to the upside.

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) 0.9479; (P) 0.9512; (R1) 0.9570; More…

While EUR/CHF’s recovery from 0.9402 extended higher, it’s still capped by 0.9543 resistance. Intraday bias stays neutral and further decline remains in favor. On the downside, decisive break of 0.9407 will confirm larger down trend resumption. Next target is 61.8% projection of 0.9995 to 0.9416 from 0.9683 at 0.9325. However, sustained break of 0.9543 will bring further rally back to 0.9683 resistance instead.

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) 0.9618; (P) 0.9639; (R1) 0.9661; More….

No change in EUR/CHF’s outlook and intraday stays on the downside. Deeper fall would be seen to 0.9563 support. Decisive break there will argue that whole rise from 0.9252 has completed, and bring deeper fall to 61.8% retracement of 0.9252 to 0.9928 at 0.9510. On the upside, above 0.9673 minor resistance will turn intraday bias neutral first.

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 just as a correction to the down trend from 1.2004. However, firm break of 0.9563 will suggest that the rally has completed and retain medium term bearishness.

Daily Pivots: (S1) 0.9509; (P) 0.9555; (R1) 0.9580; More…

EUR/CHF fell notably but stays in range above 0.9513. Intraday bias remains neutral for the moment. Outlook stays bearish with 0.9600 resistance intact. On the downside, decisive break of 0.9513 will resume the decline from 1.0095, towards 0.9407 low. However, break of 0.9600 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.

Daily Pivots: (S1) 0.9290; (P) 0.9306; (R1) 0.9332; More…

Intraday bias in EUR/CHF stays neutral as consolidation from 0.9252 is still extending. While another recovery cannot be ruled out, outlook will stay bearish as long as 0.9402 support turned resistance holds. On the downside, break of 0.9252 will resume larger down trend to 100% projection of 0.9995 to 0.9416 from 0.9683 at 0.9104 next.

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. Next target is 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.

Daily Pivots: (S1) 1.1316; (P) 1.1330; (R1) 1.1343; More…

Intraday bias in EUR/CHF remains neutral with focus on 1.1348 resistance. Outlook is unchanged as we’re slightly favoring the case the choppy decline from 1.1501 has completed at 1.1181 already. On the upside, break of 1.1348 will confirm this bullish case and turn bias to the upside for retesting 1.1501 next. On the downside, in case of another fall, we’d expect strong support from 1.1154/98 support zone to contain downside to bring rebound.

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.

EUR/CHF edged lower to 1.0802 last week but recovered since then. Initial bias remains neutral this week for some consolidations first. Outlook will stay bearish as long as 1.0985 resistance holds. Break of 1.0802 will resume the decline from 1.1149, to 1.0737 cluster support next.

In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed with three waves up to 1.1149 already. Sustained trading below 55 week EMA (now at 1.0882) will affirm this bearish case. Further break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) will bring retest of 1.0505 low.

In the long term picture, price actions from 1.0505 are currently seen as a correction to down trend from 1.2004 (2018 high). only. The failure to sustain above 38.2% retracement of 1.2004 to 1.0505 at 1.1078 retains long term bearishness. This is also affirmed by rejection by 55 month EMA. Another fall through 1.0505 is mildly in favor for now.

Daily Pivots: (S1) 1.1221; (P) 1.1239; (R1) 1.1267; More…

Despite yesterday’s recovery, EUR/CHF fails to sustain above 1.1256 minor resistance so far, intraday bias remains neutral first. 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.

Daily Pivots: (S1) 0.9692; (P) 0.9706; (R1) 0.9736; More…

Intraday bias in EUR/CHF is turned neutral first with current recovery. While correction from 0.9847 could extend lower, downside should be contained by 38.2% retracement of 0.9252 to 0.9847 at 0.9620 to bring rebound. On the upside, above 0.9745 minor resistance will turn bias back to the upside for retesting 0.9847.

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 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 0.9639) holds.

EUR/CHF’s down trend resumed last week by braking 1.1056 to as low as 1.1012. Initial bias remains on the downside this week. next target is 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962. On the upside, break of 1.1154 resistance is needed to signal short term bottoming. Otherwise outlook will remain bearish in case of recovery.

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 could target 1.0629 support and below.

Daily Pivots: (S1) 1.0658; (P) 1.0685; (R1) 1.0710; More…

Intraday bias in EUR/CHF remains neutral for consolidation above 1.0635 temporary low. Further decline is still expected as long as 1.0769 resistance holds. Break of 1.0635 will extend the fall from 1.0915 to 61.8% projection of 1.0915 to 1.0650 from 1.0769 at 1.0605 first. Sustained break there will target 100% projection at 1.0504, which is close to 1.0503 low.

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) 1.1592; (P) 1.1625; (R1) 1.1686; More…

EUR/CHF’s rally resumed after brief consolidation and reaches as high as 1.1660 so far. Intraday bias is back on the upside. The solid break of 1.1622 resistance confirms resumption of medium term rally. Further rise should now be seen to 61.8% projection of 1.0652 to 1.1622 from 1.1387 at 1.1986, which is close to 1.2 key level. On the downside, break of 1.1560 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 1.1198 resistance turned support holds.

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.