Daily Pivots: (S1) 1.1493; (P) 1.1571; (R1) 1.1611; More….

Despite dipping to 1.1519, EUR/CHF quickly recovered and intraday bias is turned neutral first. Outlook is unchanged at the the corrective pattern from 1.2004 is still in progress. And, another decline is expected before the correction completes. Below 1.1505 minor support will turn bias to the downside for retesting 1.1366 low first. Above 1.1656 will extend the rebound to 61.8% retracement of 1.2004 to 1.1366 at 1.1760. But, we’ll we’ll look for reversal signal above 1.1760.

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. 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) 1.0798; (P) 1.0819; (R1) 1.0845; More…

Despite dipping to 1.0791, EUR/CHF quickly recovered and intraday bias remains neutral first. At this point, further rally is still expected and break of 1.0872 should target 1.0897 resistance. Decisive break there should confirm our bullish view of reversal and will target 1.0999 resistance next Nonetheless, break of 1.0798 support will indicate short term topping and turn focus back to 55 day EMA (now at 1.0735).

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 1.0652 support holds.

Daily Pivots: (S1) 1.0510; (P) 1.0519; (R1) 1.0525; More…

Intraday bias in EUR/CHF stays neutral for the moment. Consolidation from 1.0503 could still extend with another rise. But even in that case, upside should be limited below 1.0653 resistance. Eventual downside break out is expected. Sustained break of 1.0503 will resume larger down trend to 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. Stronger rebound would then be seen back to 1.0811/1059 resistance zone.

Daily Pivots: (S1) 1.1773; (P) 1.1789; (R1) 1.1806; More…

No change in EUR/CHF’s outlook. Further rise could be seen as the rebound from 1.1445 extends. But still, we’ll stay cautious on strong resistance from 1.1832 to bring near term reversal. Below 1.1730 will turn bias to the downside first. Further break of 1.1649 support will indicate completion of rebound form 1.1445. And the corrective pattern from 1.1832 would then extend with another decline to retest 1.1445. However, firm break of 1.1832 will confirm resumption of larger up trend.

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.

Daily Pivots: (S1) 1.0776; (P) 1.0796; (R1) 1.0815; More….

Intraday bias in EUR/CHF remains on the downside at this point. Fall from 1.0890 would target 1.0737 support. Break there will extend the sideway pattern from 1.0915 with another falling leg, towards 1.0661 support. For now, deeper decline will remain in favor as long as 1.0866 resistance holds, in case of recovery.

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) 1.1443; (P) 1.1469; (R1) 1.1488; More…

A temporary top is formed at 1.1491 in EUR/CHF is intraday bias is turned neutral first. Overall, we’re holding on to the view on bullish trend reversal after EUR/CHF drew support from 1.1154/98 zone. Thus, another rise is expected. On the upside above 1.1491 will target 1.1713 resistance for confirmation. Break there will target a test on 1.2004 high next. Meanwhile, note that upside momentum is not to convincing so far. Break of 1.1360 minor support will argue that the rebound has completed and turn bias back to the downside for 1.1154/98 zone again.

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) 1.0928; (P) 1.0938; (R1) 1.0951; More….

Intraday bias in EUR/CHF stays mildly on the downside for the moment. Rebound from 1.0863 could have completed at 1.0985, after rejection by medium term channel resistance. Deeper fall would be seen to 1.0863 support first. Break there will resume whole decline from 1.1149 to 1.0737 cluster support zone. For now, risk will be on the downside as long as 1.0985 holds.

In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed at 1.1149 already. Rejection by 55 month EMA (now at 1.1074) at least keeps medium term bearishness open. Sustained break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) 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 1.0885) 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) 1.1116; (P) 1.1160; (R1) 1.1202; More….

EUR/CHF formed a temporary low after dropping to 1.1119. Intraday bias is turned neutral for some consolidations. Upside should be limited by 1.1278 resistance to bring another fall. On the downside, break of 1.1119 will extend whole decline from 1.2004 and target 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 next.

In the bigger picture, focus will stay on 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Sustained break of 1.1154 will argue that fall from 1.2004 is itself a long term down trend. Next target will be 1.0629 support next. This will now remain the favored case as long as 1.1476 resistance holds even in case of rebound.

Daily Pivots: (S1) 1.0695; (P) 1.0760; (R1) 1.0793; More…

EUR/CHF spiked higher to 1.0823. However, it quickly retreated sharply since then. Intraday bias is turned neutral first. We’re favoring the case of trend reversal, on bullish convergence condition in daily MACD, after defending 1.0620 key support level. That is, correction from 1.1198 could have completed. Above 1.0823 will target 1.0897 resistance next. However, break of 1.0689 support will dampen our view and turn focus back to 1.0629 low again.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Decisive break of 1.0897 resistance should confirm that it’s completed. And in that case, larger up trend is resuming for another high above 1.1198. Meanwhile, sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485.

Daily Pivots: (S1) 1.0911; (P) 1.0935; (R1) 1.0948; More…

EUR/CHF’s consolidation from 1.0986 is still in progress and intraday bias remains neutral. Deeper pull back cannot be ruled out. But downside should be contained by 1.0791/0872 support zone to bring rise resumption. Outlook is unchanged that corrective pattern from 1.1198 has completed already after defending 1.0653 fibonacci level. 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.

EUR/CHF’s rebound from 1.1366 low resumed last week by breaking 1.1656 resistance and reached as high as 1.1707. Initial bias remains on the upside this week for 61.8% retracement of 1.2004 to 1.1366 at 1.1760. As such rebound is seen as the second leg of the corrective pattern from 1.2004, we’d expect strong resistance from 1.1760 to limit upside. On the downside, below 1.1618 will turn bias back to the downside for 1.1478 support and below. However, sustained trading above 1.1760 will pave the way to retest 1.2004 high next.

In the bigger picture, 1.2004 is seen as a medium term top with bearish divergence condition in daily and weekly MACD. 1.2000 is also an important resistance level. Hence, the corrective pattern from 1.2004 is expected to extend for a while before completion. Hence, 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) 1.0805; (P) 1.0832; (R1) 1.0853; More…

With 1.0924 resistance intact, further decline is expected in EUR/CHF. Current down trend should target 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645. However, firm break of 1.0924 will indicate short term bottoming and bring stronger rebound to 55 day EMA (now at 1.0981).

In the bigger picture, down trend from 1.2004 is (2018 high) 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’s rise from 1.1162 accelerated to as high as 1.1331 last week. The development suggests that fall from 1.1444 has completed at 1.1162 already. Initial bias stays on the upside for 1.1384 resistance first. Break will target 1.1444 key resistance next. On the downside, however, break of 1.1254 will indicate completion of the rebound and turn bias back to the downside for 1.1162 low.

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. However, decisive break of 1.1444 will indicate completion of fall from 1.2004 and turn medium term outlook bullish.

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) 0.9605; (P) 0.9627; (R1) 0.9640; More…

EUR/CHF’s is resuming recent decline by breaking through 0.9606. Intraday bias is back on the downside. The fall from 1.0095 would target 100% projection of 0.9995 to 0.9670 from 0.9840 at 0.9515. On the upside, break of 0.9684 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, medium term outlook is staying bearish as the pair is capped below falling 55 W EMA (now at 0.9913). Down trend form 1.2004 (2018 high) is in favor to extend through 0.9407 at a later stage. Nevertheless, decisive break of 38.2% retracement of 1.1149 to 0.9407 will raise the chance of bullish trend reversal.

Daily Pivots: (S1) 0.9534; (P) 0.9550; (R1) 0.9578; More…

Intraday bias in EUR/CHF is turned neutral with current recovery. But further decline is expected as long as 0.9599 resistance holds. Break of 0.9513 will resume the whole fall from 1.0095 to 61.8% projection of 0.9840 to 0.9520 from 0.9646 at 0.9448.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9849). 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) 1.1574; (P) 1.1596; (R1) 1.1636; More…

Intraday bias remains neutral in EUR/CHF and outlook is unchanged. With 1.1483 support intact, further rally is expected. On the upside, above 1.1663 minor resistance will turn bias back to the upside for 1.1709 high. Break will resume medium term rally to 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 1.1105) and possibly below.

Daily Pivots: (S1) 0.9731; (P) 0.9747; (R1) 0.9755; More…

No change in EUR/CHF’s outlook and intraday bias stays neutral. On the upside break of 0.9840 will resume the rebound from 0.9670. That will also revive the case that whole corrective decline from 1.0095 has completed at 0.9670. Further rally should be seen to 0.9878 resistance next. However, sustained trading below 0.9670 will resume the whole fall from 1.0095.

In the bigger picture, medium term outlook is staying bearish as the pair is capped below falling 55 W EMA (now at 0.9913). Down trend form 1.2004 (2018 high) is in favor to extend through 0.9407 at a later stage. Nevertheless, decisive break of 38.2% retracement of 1.1149 to 0.9407 will raise the chance of bullish trend reversal.

Daily Pivots: (S1) 1.0842; (P) 1.0853; (R1) 1.0864; More…

EUR/CHF’s pull back from 1.0986 is still in progress and deeper fall could be seen. But we’d expect strong support from 1.0791/0872 support zone, probably around 55 day EMA (now at 1.0831) to complete the correction from 1.0986. Break of 1.0902 minor resistance will turn bias back to the upside for 1.0986/0999. Overall, rise from 1.0629 is expected to resume later.

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.

EUR/CHF recovered to 0.9601 last week but reversed from there. Initial bias stays neutral this week and larger down trend is still in favor to continue. Break of 0.9513 support will confirm this bearish case and target 0.9407 low. Nevertheless, 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 pair is capped well below falling 55 W EMA (now at 0.9839). 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 1.0421). 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) 0.9596; (P) 0.9610; (R1) 0.9635; More…

EUR/CHF is staying below 0.9630 despite today’s recovery. Intraday bias remains neutral first. 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.