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.

Daily Pivots: (S1) 1.1583; (P) 1.1624; (R1) 1.1660; More….

A temporary low is in place at 1.1580 and intraday bias is turned neutral first. Some consolidation would be seen in EUR/CHF but deeper fall is expected as long as 1.1770 resistance holds. Below 1.1580 will target key support level at 1.1445. We’d expect strong support from there to bring rebound, at least, on first attempt. Meanwhile, firm break of 1.1770 will suggest that the pull back from 1.2004 is already completed and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

Daily Pivots: (S1) 1.0575; (P) 1.0596; (R1) 1.0615; More…

Intraday bias in EUR/CHF is turned neutral with 4 hour MACD crossed below signal line. Further rise is still expected as long as 1.0578 minor support holds. Above 1.0662 will turn bias back to the upside for 1.0710 cluster resistance (38.2% retracement of 1.1059 to 1.0503 at 1.0715). Considering bullish convergence condition in daily MACD, sustained break of 1.0710/5 will carry larger bullish implications and target 61.8% retracement at 1.0847 and above. However, break of 1.0578 minor support will turn focus back to 1.0503 low.

In the bigger picture, As long as 1.0811 support turned resistance holds, we’d still expect larger down trend from 1.2004 (2018 high) to extend lower to parity. However, Firm break of 1.0811 should confirm medium term bottoming at 1.0503. Stronger rise should be seen back to 1.1059 resistance and above.

Daily Pivots: (S1) 0.9798; (P) 0.9821; (R1) 0.9864; More…

Immediate focus is now on 0.9846 in EUR/CHF as rebound from 0.9774 extends. Decisive break there will argue that pull back from 0.9995 has completed. More importantly, that would revive the case that whole correction from 1.0095 has completed at 0.9704. Intraday bias will be back on the upside for 55 D EMA (now at 0.9876). Sustained trading above there will pave the way back to 0.9995 resistance next. Nevertheless, break of 0.9774 will resume recent decline to 0.9704 support and below.

In the bigger picture, prior rejection by 55 W EMA (now at 0.9989) 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) 0.9563; (P) 0.9597; (R1) 0.9624; More….

Intraday bias in EUR/CHF remains on the downside at this point. Current down trend should now target 100% projection of 1.1149 to 0.9970 from 1.0513 at 0.9334. On the upside, break of 0.9698 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rebound.

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) 0.9738; (P) 0.9760; (R1) 0.9790; More….

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. Corrective rise from 0.9550 might still 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) 1.1310; (P) 1.1328; (R1) 1.1352; More…

No change in EUR/CHF remains neutral and intraday bias remains neutral. As long as 1.1356 resistance holds, near term outlook stays cautiously bearish and fall from 1.1501 is in favor to continue. On the downside, break of 1.1260 will target 1.1173 low. On the upside, firm break of 1.1356 resistance will argue that the pull back from 1.1501 has completed at 1.1260. In that case, further rise would be seen back to retest 1.1501.

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) 1.0411; (P) 1.0447; (R1) 1.0467; More….

Intraday bias in EUR/CHF remains mildly on the downside at this point. Rebound form 1.0298 could have completed at 1.0610 already, after rejection by 38.2% retracement of 1.1149 to 1.0298 at 1.0623. Deeper fall would be seen for retesting 1.0298 low. On the upside, above 1.0480 minor resistance will turn intraday bias neutral first.

In the bigger picture, a medium term bottom was formed at 1.0298 on bullish convergence condition in daily MACD. Rebound from there is still tentatively viewed part of a corrective pattern. That is, larger down trend from 1.2004 (2018) could still extend through 1.0298 to 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. However, sustained trading above 55 week EMA (now at 1.0667) will argue that the down trend is over, and bring stronger rise back to 1.1149 next.

Daily Pivots: (S1) 0.9896; (P) 0.9916; (R1) 0.9951; More….

Intraday bias in EUR/CHF stays neutral as consolidation from 0.9953 is extending. Another fall cannot be ruled out, but downside should be contained by 0.9798 resistance turned support to bring rebound. On the upside, break of 0.9953 will resume the rise from 0.9407 to 1.0072 fibonacci level.

In the bigger picture, a medium term bottom should be in place at 0.9407. Further rally is expected as long as 0.9641 support holds, even as a corrective rebound. Next target 38.2% retracement of 1.1149 to 0.9407 at 1.0072. Reaction from there, as well as 55 week EMA (now at 1.0121) will reveal whether the trend is reversing.

EUR/CHF dropped notably last week as consolidation from 1.1149 extended with another falling leg. Deeper decline could be seen this week 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) 1.1371; (P) 1.1390; (R1) 1.1424; More…

EUR/CHF recovered after hitting 1.1350 and intraday bias is turned neutral first. Some recovery could be seen first. On the upside, sustained break of 38.2% retracement of 1.2004 to 1.1162 at 1.1484 will confirm completion of corrective fall from 1.2004. Further rally should then be seen to 61.8% retracement at 1.1682 and above. On the downside, sustained break of 55 day EMA (now at 1.1327) will pave the way back to 1.1162 low.

In the bigger picture, at this point, we’re slight favoring the case that corrective fall from 1.2004 has completed after being supported by 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Decisive break of 1.1501 resistance should confirm and target 1.1713 resistance next. And, firm break of 1.1154 is needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.

Daily Pivots: (S1) 1.1409; (P) 1.1425; (R1) 1.1451; More…

EUR/CHF’s rally extends to as high as 1.1439 so far. Intraday bias stays is back on the upside for 1.1444 key resistance. Decisive break of 1.1444 will indicate larger bullish reversal. EUR/CHF should target 1.1501 resistance first. On the downside, however, break of 1.1366 support will indicate rejection from 1.1444 key resistance. Intraday bias will be turned back to the downside for retesting 1.1154 long term fibonacci support.

In the bigger picture, focus is back on 1.1444 resistance with current rebound. Decisive break there will indicate completion of the decline from 1.2004, with support from 61.8% retracement of 1.0629 to 1.2004 at 1.1154. In this case, further rise should be seen to 1.1713 resistance next. On the downside, firm break of 61.8% retracement of 1.0629 to 1.2004 at 1.1154 is now needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.

EUR/CHF surges to as high as 1.0824 last week before forming a temporary top there and turned sideway. Current development suggests that Consolidation pattern from 1.0915 has completed with three waves to 1.0661. On the upside, break of 1.0824 will target 1.0877 resistance to confirm this bullish case. However, break of 1.0772 support will likely extend the pattern with another falling leg and turn bias to the downside.

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) 0.9546; (P) 0.9570; (R1) 0.9616; More…

Intraday bias in EUR/CHF remains neutral for consolidations above 0.9520. While stronger recovery could be seen, outlook will remain bearish as long as 0.9670 support turned resistance holds. Break of 0.9520 will resume the fall from 1.0095 towards 0.9407 low.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9876). 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 0.9840 resistance holds, in case of strong rebound.

EUR/CHF’s rebound from 1.0737 resumed last week and hit as high as 1.0869. Initial bias stays on the upside this week for 1.0890/0915 resistance zone. Decisive break there will resume larger rebound from 1.0602. On the downside, below 1.0845 minor support will turn intraday bias neutral again 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) 1.1734; (P) 1.1768; (R1) 1.1806; More…

Intraday bias in EUR/CHF remains on the upside for retesting 1.1832 high. At this point, we’d remain cautious on strong resistance from there to bring another fall to extend recent corrective pattern. Though, firm break will confirm resumption of larger up trend. On the downside, break of 1.1649 support will turn focus back to 1.1445 instead.

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) 1.1521; (P) 1.1576; (R1) 1.1606; More….

EUR/CHF”s fall resumes after brief consolidation and hits as low as 1.1445 so far. 1.1445 is seen as an important support and we’ll see if it can hold. On the upside, above 1.1553 should indicate short term bottoming and turn bias back to the upside for stronger rebound. However, sustained break of 1.1445 will bring deeper decline to next key support zone between 1.11543 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 MACD, 1.2004 should be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. The cross has met 1.1445 already, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern. However, sustained break of 1.1445 will target next key cluster level at 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154.

Daily Pivots: (S1) 0.9578; (P) 0.9598; (R1) 0.9611; More…

EUR/CHF is losing some upside momentum but intraday bias stays on the upside for now. Current rise from 0.9252 should target 161.8% projection of 0.9252 to 0.9471 from 0.9304 at 0.9658 next. On the downside, below 0.9553 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

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 0.9622) 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.

EUR/CHF extended the corrective pattern from 1.0400 with another fall last week, and dipped to 1.0186. As a temporary low was formed there, initial bias is neutral this week first. Another decline cannot be ruled out with 1.0289 minor resistance intact. Below 1.0186 will target 1.0086 support. On the upside, above 1.0289 will target 1.0369/0400 resistance zone. Firm break there will resume the rebound from 0.9970 to 1.0610 structural 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.

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 some sustained trading above the 55 month EMA (now at 1.0891).