Daily Pivots: (S1) 0.9889; (P) 0.9940; (R1) 0.9972; More…

Intraday bias in EUR/CHF remains neutral as range trading continues. Near term outlook stays cautiously bullish with 0.9837 minor support intact. Correction from 1.0095 could have completed at 0.9704 already. Break of 0.9995 will affirm this bullish case and target a retest on 1.0095 high. However, break of 0.9837 will dampen this bullish view and turn bias back to the downside for 0.9704 support instead.

In the bigger picture, prior rejection by 55 week EMA (now at 1.1002) 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) 1.0284; (P) 1.0331; (R1) 1.0377; More….

Intraday bias in EUR/CHF remains mildly on the upside at this point. Firm break of 1.0400 resistance will resume the rebound from 0.9970 to 1.0610 structural resistance. On the downside, below 1.0186 will turn bias back to the downside for 1.0086 support, to extend the corrective pattern from 1.0400.

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) 1.1243; (P) 1.1258; (R1) 1.1277; More…

With 4 hour MACD crossed above signal line, a temporary low is in place at 1.1236 after breaching 1.1242 support. Intraday bias is turned neutral for consolidation. Further fall is expected as long as 1.1310 minor resistance holds. Below 1.1236 will target key support zone at 1.1154/98. At this point, we’d still expect strong support from there to bring rebound. On the upside, above 1.1310 minor resistance will turn bias back to the upside for 1.1452 resistance. 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 1.1173) 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) 0.9517; (P) 0.9538; (R1) 0.9548; More…

Intraday bias in EUR/CHF is turned neutral again with current retreat. Considering loss of momentum as seen in 4H MACD, in case of another rise, upside should be limited by 0.9574 fibonacci resistance. On the downside, break of 0.9466 support will argue that rebound from 0.9252 has completed as a three-wave correction. Outlook will be turned bearish for retesting 0.9252/9304 support zone.

In the bigger picture, price actions from 0.9252 are tentatively seen as a correction to the five-wave down trend from 1.0095 (2023 high). Further rise would be seen to 38.2% retracement of 1.0095 to 0.9252 at 0.9574 and possibly above. But overall medium term outlook will remain bearish as long as 0.9683 resistance holds.

Daily Pivots: (S1) 0.9833; (P) 0.9852; (R1) 0.9873; More…

EUR/CHF’s strong break of 0.9837 support argues that rebound from 0.9407 has completed. More importantly, corrective pattern from 1.0067 high is extending with another falling leg. Intraday bias is back on the downside for 0.9074, and possibly below. On the upside, though, break of 0.9889 minor resistance will turn intraday bias back to the upside for stronger rebound.

In the bigger picture, prior rejection by 55 week EMA (now at 1.1002) 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).

EUR/CHF’s down trend resumed last week and hit as low as 0.9654. With 4 hour MACD breaking its trend line, downside momentum might be increasing. Firm break of 0.9650 long term projection level will target 100% projection of 1.1149 to 0.9970 from 1.0513 at 0.9334. Meanwhile, rebound from current level, followed by break of 0.9799 resistance should confirm short term bottoming.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Sustained break of 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650 will target 138.2% projection at 0.9033 next. 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.

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 firm break of 1.0505 support (2020 low).

Daily Pivots: (S1) 0.9563; (P) 0.9608; (R1) 0.9632; More…

EUR/CHF’s fall from 0.9683 accelerated to as low as 0.9547 so far today. The development confirms rejection by 0.9691 resistance, and dampened the case of larger bullish reversal. Intraday bias is now on the downside for 61.8% retracement level of 0.9416 to 0.9683 at 0.9518. Sustained break there will pave the way to retest 0.9416 low. On the upside, above 0.9579 minor resistance will turn intraday bias neutral first.

In the bigger picture, rejection by 0.9691 cluster resistance (38.2% retracement of 1.0095 to 0.9416 at 0.9675) maintains medium term bearishness in EUR/CHF. That is, down trend from (1.0095) might not be over yet. Deeper decline would be seen back to 0.9407.16 key support zone. Firm break there will resume long term down trend. For now, outlook will be neutral at best as long as 0.9691 holds.

Daily Pivots: (S1) 0.9572; (P) 0.9585; (R1) 0.9598; More…

EUR/CHF is still extending the consolidation from 0.9630 and intraday bias stays neutral. As long as 0.9510 support holds, further rally is still expected. On the upside, break of 0.9630 will resume the rise from 0.9252 and target 161.8% projection of 0.9252 to 0.9471 from 0.9304 at 0.9658 next. However, considering bearish divergence condition in 4H MACD, firm break of 0.9510 will turn bias back to the downside for deeper fall.

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) 0.9618; (P) 0.9634; (R1) 0.9648; More…

EUR/CHF is still extending the consolidation from 0.9651 and intraday bias stays neutral. Further rally is in favor as long as 0.9564 minor support holds. Above 0.9651 will resume the rebound from 0.9416 to 0.9691 resistance first. Firm break there will argue that whole decline from 1.0095 has completed at 0.9416, just ahead of 0.9407 support (2022 low). Nevertheless, break of 0.9564 will turn bias back to the downside for deeper fall.

In the bigger picture, as long as 1.0095 resistance holds, price actions from 0.9407 are viewed as a three-wave consolidation pattern first. Current rise from 0.9416 might be the third leg. That is, larger down trend from 1.2004 (2018 high) might still resume through 0.9407 at a later stage. However, decisive break of 1.0095 will argue that the long term down trend is reversing.

Daily Pivots: (S1) 1.0682; (P) 1.0697; (R1) 1.0713; More…

Intraday bias in EUR/CHF remains neutral and consolidation form 1.0665 is extending. While further decline cannot be ruled out, 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) 1.0646; (P) 1.0680; (R1) 1.0698; More…

EUR/CHF edges lower today but outlook remains unchanged. While further decline cannot be ruled out, 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 1.0737 resistance 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) 0.9579; (P) 0.9628; (R1) 0.9693; More…

Intraday bias in EUR/CHF stays on the upside for the moment. Rise form 0.9513 short term bottom would target 38.2% retracement of 1.0095 to 0.9513 at 0.9735. Sustained break there will target 61.8% retracement at 0.9873. On the downside, below 0.9602 minor support will turn intraday bias neutral first.

In the bigger picture, medium term outlook is staying bearish as the cross is capped well below falling 55 W EMA (now at 0.9804). 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 confirm bullish trend reversal.

Daily Pivots: (S1) 1.1280; (P) 1.1350; (R1) 1.1390; More…

With 4 hour MACD crossed above signal line, intraday bias in EUR/CHF is turned neutral first. On the downside, break of 1.1310 will target 1.1259 and possibly below. But we’d continue to expect strong support from 1.1154/98 to contain downside and bring rebound. On the upside, break of 1.1376 minor resistance will indicate that the pull back from 1.1444 has completed. Intraday bias will be turned back to the upside for retesting 1.1444.

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, on bullish convergence condition in daily MACD. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

Daily Pivots: (S1) 0.9413; (P) 0.9438; (R1) 0.9471; More…

EUR/CHF recovered after breaching 0.9407 low briefly and intraday bias is turned neutral. Some consolidations would be seen but further fall is expected as long as 0.9543 resistance holds. Decisive break of 0.9407 will resume larger down trend.

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 to 0.9407 from 1.0095 at 0.9018.

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.

Daily Pivots: (S1) 0.9828; (P) 0.9850; (R1) 0.9891; More….

EUR/CHF’s break of 0.9839 minor resistance suggests that correction from 0.9953 has completed with three waves down to 0.9720. Intraday bias is back on the upside for retesting 0.9953 resistance first. Decisive break there will resume the rally from 0.9407 to 1.0072 fibonacci level.

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. That is, down trend resumption through 0.9407 is 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.

EUR/CHF’s rebound from 0.9563 should have completed at 0.9835 last week after rejection by 0.9847 resistance. Initial bias stays on the downside this week. Fall from 0.9835 is seen as the third leg of the corrective pattern from 0.9847, and should target 0.9563 support. For now, risk will stay on the downside as long as 0.9835 resistance holds, in case of recovery.

In the bigger picture, as long as 0.9563 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Break of 0.9847 resistance will 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.

In the long term picture, fall from 1.2004 (2018 high) is part of the multi-decade down trend. Firm break of 1.0095 resistance is needed to be the first sign of long term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 0.9732; (P) 0.9800; (R1) 0.9838; More….

Intraday bias in EUR/CHF remains neutral at this point. Corrective rise from 0.9550 might 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) 1.0951; (P) 1.0961; (R1) 1.0971; More….

Intraday bias in EUR/CHF remains neutral first. On the upside, break of 1.0974 will resume the rebound from 1.0863. But outlook will stay bearish as long as 1.1026 resistance holds. On the downside, break of 1.0930 minor support will bring retest of 1.0863 low. Break there will resume whole fall from 1.1149.

In the bigger picture, current development argues that rebound from 1.0505 might be completed at 1.1149 already. Rejection by 55 month EMA (now at 1.1077) at least keeps medium term bearishness open. Sustained break of 1.0737 support will argue that the down trend from 2004 (2018 high) is ready to resume through 1.0505 low. Sustained trading below 55 week EMA (now at 1.0879) will affirm this bearish case. Nevertheless, strong support from 55 week EMA will revive the case for resuming the rise from 1.0505 at a later stage.

Daily Pivots: (S1) 0.9621; (P) 0.9633; (R1) 0.9646; More…

Intraday bias in EUR/CHF stays neutral as range trading continues below 0.9651. Another dip cannot be ruled out. But downside should be contained by 0.9564 support to bring another rally. On the upside, break of 0.9651 will resume the rise from 0.9416 to 0.9691 resistance first. Firm break there will argue that whole decline from 1.0095 has completed at 0.9416, just ahead of 0.9407 support (2022 low).

In the bigger picture, fall from 1.0095 (2023 high) might have completed at 0.9416, just ahead of 0.9407 support (2022 low). Sustained break of 0.9691 cluster resistance (38.2% retracement of 1.0095 to 0.9416 at 0.9675) will pave the way to 61.8% retracement at 0.9836 and above. However, rejection by 0.9691 will maintain medium term bearishness for another test on 0.9407 at least.