EUR/CHF’s strong rebound last week suggests that pull back from 1.0871 has completed at 1.0735 already. Further rise is mildly in favor this week as long as 1.0807 minor support holds. Firm break of 1.0871 will suggest that whole rebound from 1.0503 is resuming. Further rally should be seen through 1.0915 resistance to 61.8% projection of 1.0503 to 1.0915 from 1.0735 at 1.0990. On the downside, though, break of 1.0807 minor support will delay the bullish case and bring more sideway trading 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.

EUR/CHF edged higher to 1.1804 last week but quickly lost momentum. Outlook is unchanged. While rebound from 1.1445 might extend, we’d stay cautious on strong resistance from 1.1832 to bring near term reversal. On the downside, below 1.1730 minor support 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) 1.1240; (P) 1.1285; (R1) 1.1311; More…

EUR/CHF’s break of 1.1298 minor support suggests that rebound from 1.1181 has completed at 1.1347, after rejection by 1.1348 resistance. Intraday bias is turned back to the downside for deeper fall. But we’d expect strong support from 1.1154/98 support zone to contain downside to bring rebound. On the upside, break of 1.1348 resistance will confirm near term reversal and target 1.1501 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. 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) 0.9725; (P) 0.9744; (R1) 0.9759; More…

Outlook in EUR/CHF remains unchanged. Choppy decline from 0.9995 might extend lower. But 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).

Daily Pivots: (S1) 0.9494; (P) 0.9543; (R1) 0.9617; More….

EUR/CHF’s recovery from 0.9407 extends higher but stays well below 0.9712 resistance. Intraday bias stays neutral and outlook remains bearish. Break of 0.9407 will resume larger down trend. Next target is 61.8% projection of 1.0512 to 0.9550 from 0.9864 at 0.9269.

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 0.9864 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) 0.9931; (P) 1.0004; (R1) 1.0041; More….

Intraday bias in EUR/CHF stays on the downside at this point. Sustained break of 0.9970 low will resume larger down trend. Next target is 0.9650 long term projection level. On the upside, however, above 1.0214 minor resistance will delay the bearish case, and turn bias back to the upside for stronger rebound.

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.

Range trading continued in EUR/CHF last week inside 1.0721/0877. Outlook is unchanged and initial bias stays neutral this week first. Further rally is expected with 1.0721 support intact. On the upside, break of 1.0877 resistance will extend the rebound from 1.0602 for retesting 1.0915 high. On the downside, however, firm break of 1.0721 will argue that the rebound from 1.0602 has completed. Intraday bias will be turned back to the downside for this support.

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) 1.1819; (P) 1.1883; (R1) 1.1917; More…

EUR/CHF drops sharply to as low as 1.1817 as correction from 1.2004 extends. Intraday bias is back on the downside for deeper fall. For now, we’d still strong support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 to contain downside and bring rebound. And decisive break of 1.2004 will confirm up trend resumption. However, sustained break of 1.1790 will at least bring deeper fall to 61.8% retracement at 1.1659 and below.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2000 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next. However, considering bearish divergence condition in daily MACD. Break of 1.1445 will be an indication of medium term reversal and will turn outlook bearish.

EUR/CHF’s late breach of 0.9754 resistance last week suggests that rise from 0.9476 is resuming. Initial bias is back on the upside this week. Further rally would be seen to retest 0.9928 high. On the downside, however, break of 0.9677 will turn bias to the downside for deeper pullback.

In the bigger picture, rebound from 0.9252 medium term bottom might not be completed yet. But even in case of resumption, strong resistance could emerge from 1.0095 to limit upside. Medium term outlook will be neutral at best as long as 1.0094 structural resistance holds. Meanwhile, break of 0.9476 will bring retest of 0.9252 low.

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) 1.0730; (P) 1.0759; (R1) 1.0778; More…

EUR/CHF is staying in consolidation from 1.0838 with no clear sign of breakout yet. Intraday bias remains neutral and with 1.0712 support intact, further rise is expected. On the upside, above 1.0838 will target 1.0915 resistance first. Break there will resume whole rally from 1.0503. On the downside, break of 1.0712 support will dampen our bullish view. Intraday bias will be turned back to the downside for 1.0602, to extend the corrective pattern from 1.0915 instead.

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 1.1059/76 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) 1.0125; (P) 1.0183; (R1) 1.0211; More….

EUR/CHF drops further to as low as 1.0115 so far and intraday bias remains on the downside. Current fall is part of the down trend from 1.1149, and should target 100% projection of 1.0936 to 1.0298 from 1.0610 at 0.9972. On the upside, break of 1.0251 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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, break of 1.0610 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 1.1398; (P) 1.1414; (R1) 1.1430; More…

Intraday bias in EUR/CHF remains neutral at this point. With 1.1392 minor support intact, further rise is mildly in favor in the cross. On the upside, above 1.1501 will extend the rise from 1.1173 to 1.1713 resistance next. However, break of 1.1392 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) 1.0132; (P) 1.0160; (R1) 1.0188; More….

EUR/CHF is staying in consolidation above 1.0096 and intraday bias remains neutral first. Outlook is unchanged that corrective rebound from 0.9970 should have completed after failing 1.0505 long term resistance. Risk stays on the downside as long as 1.0513 resistance holds. On the downside, below 1.0096 will target a retest on 0.9970 low.

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) 1.0525; (P) 1.0569; (R1) 1.0591; More…

EUR/CHF retreated sharply after rebounding to 1.0611 but drew support from 4 hour 55 EMA. Intraday bias is turned neutral first. Consolidation from 1.0503 might extend further. 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) 1.0958; (P) 1.0970; (R1) 1.0984; More….

Intraday bias in EUR/CHF is back on the upside as rebound from 1.0863 resumes. Further rise could be seen towards 1.1026 resistance. But overall outlook will stay bearish as long as 1.1026 holds. On the downside, break of 1.0939 support will bring retest of 1.0863 low.

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) 1.1243; (P) 1.1275; (R1) 1.1306; More…

As long as 1.1354 minor resistance holds, further decline is expected in EUR/CHF to key support zone at 1.1154/98. We’d expect strong support from there to contain downside to complete the whole decline from 1.2004. Meanwhile, considering mild bullish convergence condition in 4 hour MACD, break of 1.1354 will indicate short term bottoming. Stronger rebound should then be seen towards 1.1489 support turned resistance.

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 1.1154/98 support zone, 1.1198 (2016 high), 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.

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.

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) 0.9859; (P) 0.9911; (R1) 0.9947; More….

Intraday bias in EUR/CHF stays on the downside at this point. Fall from 1.0095 short term top is in progress to 38.2% retracement of 0.9407 to 1.0095 at 0.9832. Strong support could be seen from there to bring rebound. On the upside, above 0.9962 minor resistance will turn bias back to the upside for retesting 1.0095 high.

In the bigger picture, break of 38.2% retracement of 1.1149 to 0.9407 at 1.0072 and 55 week EMA (now at 1.0041) is taken as an initial sign of long term bullish reversal. Further rally is expected as long as 55 days EMA (now at 0.9874) holds. Next target is 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484). Reactions from there should reveal long term momentum.

Daily Pivots: (S1) 0.9891; (P) 0.9911; (R1) 0.9942; More….

EUR/CHF recovered after hitting 55 day EMA and intraday bias is turned neutral first. Another fall is in favor as long as 0.9962 minor resistance holds. Below 0.9873 will target 38.2% retracement of 0.9407 to 1.0095 at 0.9832. On the upside, above 0.9962 minor resistance will turn bias back to the upside for retesting 1.0095 high.

In the bigger picture, break of 38.2% retracement of 1.1149 to 0.9407 at 1.0072 and 55 week EMA (now at 1.0041) is taken as an initial sign of long term bullish reversal. Further rally is expected as long as 55 days EMA (now at 0.9874) holds. Next target is 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484). Reactions from there should reveal long term momentum.