Daily Pivots: (S1) 0.9982; (P) 1.0014; (R1) 1.0052; More….

EUR/CHF’s down trend resumes by breaking 0.9943 temporary low. Intraday bias is back on the downside. Next target if 0.9650 long term projection level. On the upside, break of 1.0044 minor resistance will turn intraday bias neutral and bring consolidations, before staging another decline.

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) 1.0899; (P) 1.0934; (R1) 1.0957; More…

Intraday bias in EUR/CHF stays neutral with focus on 1.0912 minor support. Break will indicate completion of the corrective rise from 1.0811, at 1.1018. Intraday bias will be turned back to the downside for retesting 1.0811 low. On the upside, 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 fall 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.

Daily Pivots: (S1) 1.0953; (P) 1.0961; (R1) 1.0978; More….

EUR/CHF is staying in tight range below 1.0974 and intraday bias remains neutral first. Outlook stays 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. On the upside, break of 1.1026 will be the first sign of near term bullish reversal.

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) 0.9847; (P) 0.9877; (R1) 0.9893; More….

EUR/CHF’s fall form 1.0067 could still extend lower. But downside should be contained by 38.2% retracement of 0.9407 to 1.0095 at 0.9832 to complete the corrective pattern from 1.0095. On the upside, break of 0.9905 minor resistance will turn bias back to the upside for 4 hour 55 EMA (now at 0.9923) and above.

In the bigger picture, the rejection by 55 week EMA (now at 1.0025) mixed up the outlook. On the upside, sustained trading above 55 week EMA 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). However, firm break of 0.9832 support will revive medium term bearishness and bring retest of 0.9407 low instead.

Daily Pivots: (S1) 1.0947; (P) 1.0957; (R1) 1.0978; More….

EUR/CHF’s rebound from 1.0863 resumes by breaking 1.0962 and intraday bias is back on the upside for stronger rise. But overall, outlook stays bearish as long as 1.1026 resistance holds. On the downside, break of 1.0912 minor support will bring retest of 1.0863 low. Break there will resume whole fall from 1.1149. On the upside, break of 1.1026 will be the first sign of near term bullish reversal.

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) 1.0712; (P) 1.0730; (R1) 1.0741; More…

EUR/CHF drops sharply after being rejected by 1.0749 resistance, but stays above 1.0688 temporary low. Intraday bias remains neutral first and further decline is still expected. Fall from 1.0877 is seen as the third leg of the corrective pattern from 1.0915. Break of 1.0688 will target 1.0602 support next. However, on the upside, break of 1.0749 minor resistance will mix up the near term outlook again.

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 surged to as high as 1.0871 last week, but failed to break through 1.0877 resistance and retreated. Initial bias remains neutral this week first. We’re holding on to the view that consolidation pattern from 1.0915 has completed with three waves to 1.0661. On the upside, decisive break of 1.0877 should confirm this bullish case and target 1.0915 and above. On the downside, however, break of 1.0790 support will dampen this bullish case. and turn bias to the downside to extend the consolidation from 1.0915.

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) 1.0808; (P) 1.0824; (R1) 1.0835; More….

Range trading continues in EUR/CHF and intraday bias remains neutral at this point. On the upside, break of 1.8920 resistance will target 1.0915. On the downside, below 1.0787 will target 1.0737 support first. Break there will extend the sideway pattern from 1.0915 with another falling leg, towards 1.0661 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) 1.1406; (P) 1.1431; (R1) 1.1444; More…

A temporary top is in place at 1.1452 in EUR/CHF with 4 hour MACD crossed below signal line. Intraday bias is turned neutral first. For now, further rise is expected as long as 1.1363 minor support holds. Above 1.1452 will extend the rebound from 1.1242 short term bottom to 1.1489 support turned resistance first. Decisive break there will add to the case of trend reversal ahead of key support zone between 1.1154/98. However, on the downside, below 1.1329 minor support will turn bias to the downside for retesting 1.1242 low instead.

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.

EUR/CHF’s down trend extended last week and hit as low as 1.0700. Initial bias remains on the downside this week for 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648. As it’s close to 1.0629 long term support, we’d look for bottoming signal around there. However, break of 1.0788 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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 sustained break will put parity back into focus. On the upside, break of 1.1059 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9939; (P) 0.9969; (R1) 1.0021; More….

Intraday bias in EUR/CHF remains on the upside as rebound from 0.9873 extends higher today. Further rise would be seen to retest 1.0095 resistance. On the downside, though, break of 0.9952 minor support will turn bias back to the downside to resume the correction to 38.2% retracement of 0.9407 to 1.0095 at 0.9832.

In the bigger picture, the initial rejection by 55 week EMA (now at 1.0039) mixed up the outlook. On the upside, sustained trading above 55 week EMA will raise the chance of bullish trend reversal. Rise form 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). However, firm break of 0.9832 support will revive medium term bearishness and bring retest of 0.9407 low instead.

Daily Pivots: (S1) 1.1533; (P) 1.1566; (R1) 1.1598; More….

Focus in EUR/CHF is now on 1.1505 minor support with the current fall. Break will confirm completion of the rebound from 1.1366. And, corrective pattern from 1.2004 would then extend with the third leg, through 1.1366 low. On the upside, above 1.1656 will extend the rebound from 1.1366. But upside should be limited by 61.8% retracement of 1.2004 to 1.1366 at 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.

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) 1.1148; (P) 1.1169; (R1) 1.1186; More….

Intraday bias in EUR/CHF remains neutral for consolidation above 1.1119 temporary low. 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) 1.0865; (P) 1.0891; (R1) 1.0921; More….

EUR/CHF’s rally continues today and hits as high as 1.0947 so far today. the break of 1.0915 resistance confirms resumption of larger rebound from 1.0503. Intraday bias stays on the upside for 61.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.0992 next. On the downside, below 1.0874 minor support will turn intraday bias neutral and bring consolidations 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) 1.0352; (P) 1.0415; (R1) 1.0449; More….

EUR/CHF’s steep decline and strong break of 1.0216 support suggests that corrective rebound from 0.9970 has completed already, after second rejection by 1.0505 support turned resistance. Intraday bias is back on the downside for 1.0086 support first. Break will target a test on 0.9970 low. For now, risk will stay on the downside as long as 1.0512 resistance holds, in case of recovery.

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) 0.9418; (P) 0.9429; (R1) 0.9446; More…

Intraday bias in EUR/CHF remains on the upside for 0.9471 resistance first. Firm break there will resume whole rebound from 0.9252. Next target is 100% projection of 0.9252 to 0.9471 from 0.9304 at 0.9523. On the downside, below 0.9376 minor support will turn intraday bias neutral 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) 0.9646; (P) 0.9666; (R1) 0.9681; More…

A temporary top is formed at 0.9683 in EUR/CHF with current retreat. Intraday bias is turned neutral first. But further rally is expected as long as 0.9602 support intact. On the upside, above 0.9683 will resume the rise from 0.9513 to 38.2% retracement of 1.0095 to 0.9513 at 0.9735. Sustained break there will target 61.8% retracement at 0.9873.

In the bigger picture, medium term outlook will stay bearish as long as the cross is capped well below falling 55 W EMA (now at 0.9799). That is, 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 indicate bullish trend reversal.

Daily Pivots: (S1) 1.1283; (P) 1.1307; (R1) 1.1324; More…

Intraday bias in EUR/CHF remains on the downside for the moment. Corrective fall from 1.1476 is in progress towards 1.1162 low. We’d expect strong support above there to bring rebound. On the upside, break of 1.1350 will suggest that the pull back has completed. Intraday bias will be turned back to the upside for 38.2% retracement of 1.2004 to 1.1162 at 1.1484 again.

In the bigger picture, at this point, we’re slightly 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. On the downside, firm break of 1.1154 is needed to confirm down trend resumption. Otherwise, medium term outlook will be neutral at worst.

Daily Pivots: (S1) 1.1925; (P) 1.1941; (R1) 1.1958; More…

EUR/CHF’s rebound from 1.1864 is still in progress and could extend higher. But still, as long as 1.2004 holds, the consolidation will extend with risk of deeper pull back. But in that case, we’d expect strong support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 to contain downside and bring rebound. Nonetheless, decisive break of 1.2004 will confirm up trend resumption.

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.