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.

Daily Pivots: (S1) 0.9483; (P) 0.9499; (R1) 0.9520; More….

Intraday bias in EUR/CHF stays on the downside as fall from 0.9928 is in progress. Sustained trading below 61.8% retracement of 0.9252 to 0.9928 at 0.9510 will raise the chance of long term down trend resumption, and target 0.9252 low next. On the upside, above 0.9566 minor resistance will turn intraday bias neutral again first.

In the bigger picture, the break of 0.9563 support, as well as 55 W EMA (now at 0.9672) argues that rebound from 0.9252 has completed at 0.9928. Medium term bearish is maintained with both 1.0095 resistance intact. Firm break of 0.9252 will resume the down trend from 1.2004 (2018 high).

Daily Pivots: (S1) 0.9894; (P) 0.9911; (R1) 0.9939; More….

Intraday bias in EUR/CHF is now on the upside this week as recent rally continues. Current rise from 0.9252 should target 100% projection of 0.9304 to 0.9847 from 0.9563 at 1.0106, which is slightly above 1.0095 key structural resistance. On the downside, below 0.9880 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, as long as 0.9728 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.

Daily Pivots: (S1) 1.0831; (P) 1.0855; (R1) 1.0872; More…

Intraday bias in EUR/CHF remains neutral for the moment. Further decline is expected as long as 1.0905 minor resistance holds. Break of 1.0828 will target 1.0811 low. Decisive break there will resume larger down trend. On the upside, break of 1.0905 will turn bias back to the upside for recovery. Overall outlook is unchanged that’s consolidation from 1.0811 might extend. In case of another recovery, upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to bring larger down trend resumption.

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’s rally from 0.9252 continued last week and hit as high as 0.9603. Initial bias stays on the upside this week for 161.8% projection of 0.9252 to 0.9471 from 0.9304 at 0.9658 next. For now, further rally is expected as long as 0.9510 support holds, in case of retreat.

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 61.9% retracement of 1.0095 to 0.9252 at 0.9773 and above.

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) 0.9562; (P) 0.9601; (R1) 0.9650; More….

Further decline is expected in EUR/CHF with 0.9698 resistance intact. 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.

EUR/CHF’s strong rebound last week raised the chance of near term trend reversal. As a temporary top was formed at 1.0662, initial bias remains neutral first. On the upside, above 1.0662 will target 1.0710 cluster resistance (38.2% retracement of 1.1059 to 1.0503 at 1.0715). Sustained break there will affirm the bullish case. However, break of 1.0578 minor support will bring retest of 1.0503 low instead.

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) 1.0363; (P) 1.0377; (R1) 1.0395; More….

Intraday bias in EUR/CHF remains neutral as consolidation from 1.0298 is extending. While stronger recovery cannot be ruled out, upside should be limited well below 1.0510 resistance. On the downside, break of 1.0298 will extend the down trend from 1.1149 to 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next.

In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. On the upside, firm break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of rebound.

Daily Pivots: (S1) 0.9449; (P) 0.9481; (R1) 0.9531; More…

EUR/CHF’s firm break of 0.9471 resistance confirms resumption of rise from 0.9252. Intraday bias stays on the upside for 100% projection of 0.9252 to 0.9471 from 0.9304 at 0.9523. On the downside, below 0.9428 minor support will turn intraday bias neutral and bring consolidations first.

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. But overall medium term outlook will remain bearish as long as 0.9683 resistance holds.

Daily Pivots: (S1) 1.0781; (P) 1.0835; (R1) 1.0869; More…

EUR/CHF’s fall from 1.0915 extends today but stays above 1.0744 minor support. Intraday bias remains neutral first and another rise is still in favor after consolidations. On the upside, break of 1.0915 will extend the rally from 1.0503 to 1.1059/76 cluster resistance zone next. However, firm break of 1.0744 will indicate short term topping and bring deeper decline back to 55 day EMA (now at 1.0629).

In the bigger picture, the strong break of 1.0811 key support turned resistance suggests that whole down trend from 1.2004 (2018 high) has completed at 1.0503. Rise from 1.0503 could either be correcting the down trend from 1.2004. Or it could be starting a new up trend. Focus is now on 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076). Decisive break there will pave the way to 61.8% retracement at 1.1431 and above. Though, rejection by 1.1059/76 will revive medium term bearishness.

Daily Pivots: (S1) 1.0532; (P) 1.0569; (R1) 1.0589; More….

Intraday bias in EUR/CHF remains on the downside at this point. Current down trend from 1.1149 should target 100% projection of 1.1149 to 1.0694 from 1.0936 at 1.0481. On the upside, break of 1.0678 support turned resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, current downside momentum argues that fall from 1.1149 is probably resuming the downside from 1.2004 (2018 high). Next focus is 1.0505 (2020 low). Decisive break there will confirm this bearish case and target 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223 next. Strong support from 1.0505 will bring rebound first. But outlook will stay bearish as long as 1.0936 resistance holds.

Daily Pivots: (S1) 0.9689; (P) 0.9703; (R1) 0.9723; More…

EUR/CHF recovers today but stays in range below 0.9760. Intraday bias remains neutral at this point. On the upside, firm break of 0.9760 resistance should confirm short term bottoming, after drawing support from 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Intraday bias will be turned back to the upside for 0.9878 resistance next. Nevertheless, sustained break of 0.9670 will extend the whole decline from 1.0095 towards 0.9407 low instead.

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 0.9929). Down trend from 1.2004 (2018 high) is not complete 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) 1.1284; (P) 1.1328; (R1) 1.1353; More…

EUR/CHF’s fall from 1.1452 continues today and reaches as low as 1.1269 so far. Intraday bias remains on the downside for 1.1242 low first. Break will bring a test on key support zone at 1.1154/98. On the upside, above 1.1343 minor resistance will turn intraday bias neutral first. In that case, more range trading would likely be seen above 1.1242 in the near term.

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 1.1198 (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 1.1189) 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) 0.9702; (P) 0.9728; (R1) 0.9755; More….

EUR/CHF’s down trend is still in progress and intraday bias stays on the downside for 0.9650 long term projection level. Some support might be seen there to bring rebound. But break of 0.9948 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish. Firm break of 0.9650 will target 100% projection of 1.1149 to 0.9970 from 1.0513 at 0.9334.

In the bigger picture, long term down trend from 1.2004 (2018 high) is expected to target 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. Firm break there will target 138.2% projection at 0.9033. On the upside, break of 1.0513 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.

Daily Pivots: (S1) 0.9468; (P) 0.9491; (R1) 0.9530; More…

EUR/CHF is staying below 0.9532 resistance despite current recovery. Intraday bias remains neutral and outlook stays bearish. On the downside, decisive break of 0.9407 medium term bottom will confirm resumption of larger down trend. Next near term target will be 100% projection of 0.9840 to 0.9520 from 0.9691 at 0.9499, and then 161.8% projection at 0.9179. However, firm break of 0.9532 will confirm short term bottoming, and turn bias to the upside for 0.9691 resistance instead.

In the bigger picture, down trend from 1.2004 (2018 high) is still in progress. Decisive break of 0.9407 will confirm resumption, and target 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. On the upside, break of 0.9691 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish.

Daily Pivots: (S1) 1.1053; (P) 1.1074; (R1) 1.1093; More….

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1149 is extending. Another fall cannot be ruled out, but downside should be contained by 1.0954 support to bring rally resumption. On the upside, firm break of 1.1149 will resume the rise from 1.0504 and target 161.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.1404.

In the bigger picture, whole down trend from 1.2004 (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.

Daily Pivots: (S1) 0.9898; (P) 0.9912; (R1) 0.9938; More….

EUR/CHF’s break of 0.9923 resistance suggests that whole corrective pattern from 1.0095 has completed with three waves down to 0.9844. Intraday bias is back on the upside for trend line resistance (now at 0.9981). Sustained break there will add to this bullish cas and bring retest of 1.0095 high. For now, risk will stay on the upside as long as 0.9844 support holds, in case of retreat.

In the bigger picture, with 0.9832 support intact, rise from 0.9407 (2022 low) is still expected to continue. Break of 1.0095 and sustained trading above 55 week EMA (now at 1.0021) will be a medium term bullish signal, and bring further rally to 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484). However, firm break of 0.9832 support will revive medium term bearishness and bring retest of 0.9407 low instead.

Daily Pivots: (S1) 0.9739; (P) 0.9772; (R1) 0.9793; More…

Intraday bias in EUR/CHF stays neutral for more consolidations. Further rally is expected with 0.9708 minor support intact. Above 0.9800 will resume the rebound from 0.9563 to retest 0.9847 high. However, break of 0.9708 will turn bias to the downside, to extend the corrective pattern form 0.9847 with another falling leg.

In the bigger picture, while 55 D EMA (now at 0.9644) was breached, EUR/CHF rebounded strongly since then. Rise from 0.9252 medium term bottom should still be in progress. Break of 0.9847 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. However, sustained trading below 55 D EMA will argue that the rebound has completed.