Daily Pivots: (S1) 1.0728; (P) 1.0739; (R1) 1.0748; More…

A temporary low is in place at 1.0724 in EUR/CHF and intraday bias is turned neutral for consolidation. But near term outlook stays bearish as long as 1.0833 resistance holds. Break of 1.0724 will extend larger down trend to 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648. However, break of 1.0833 will indicate short term bottoming and bring stronger rebound to 55 day EMA (now at 1.0873).

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 1.1059 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

EUR/CHF stayed in range below 1.0877 last week and outlook remains unchanged. Initial bias remains neutral this week first, and with 1.0721 support intact, further rise is expected. On the upside, break of 1.0877 will resume the rebound from 1.0602 and target at test on 1.0915 high. On the downside, break of 1.0721 will argue that the rebound from 1.0602 has completed and turn bias back to the downside for retesting 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) 1.0406; (P) 1.0430; (R1) 1.0445; More….

EUR/CHF’s down trend is still in progress and intraday bias stays on the downside, for 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. On the upside, though, break of 1.0511 resistance will now 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 now extending. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. On the upside, break of 1.0694 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) 1.0784; (P) 1.0808; (R1) 1.0824; More….

EUR/CHF is holding on to 1.0790 support despite the deep pull back from 1.0871. Intraday bias remains neutral and further rise is still in favor. Consolidation pattern from 1.0915 should have completed with three waves to 1.0661. Break of 1.0877 resistance will resume the whole rebound from 1.0503. On the downside, 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) 1.0833; (P) 1.0846; (R1) 1.0862; More…

At this point, the correction from 1.0986 could still extend lower. But downside is expected to be contained by 1.0791/0872 support zone to bring rebound. Break of 1.0908 resistance will argue that the correction is completed. In such case, intraday bias is turned back to the upside for retesting 1.0986/0999 resistance zone.

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.

Daily Pivots: (S1) 0.9618; (P) 0.9634; (R1) 0.9648; More…

EUR/CHF is still extending the consolidation from 0.9651 and intraday bias stays neutral. Further rally is in favor as long as 0.9564 minor support holds. Above 0.9651 will resume the rebound from 0.9416 to 0.9691 resistance first. Firm break there will argue that whole decline from 1.0095 has completed at 0.9416, just ahead of 0.9407 support (2022 low). Nevertheless, break of 0.9564 will turn bias back to the downside for deeper fall.

In the bigger picture, as long as 1.0095 resistance holds, price actions from 0.9407 are viewed as a three-wave consolidation pattern first. Current rise from 0.9416 might be the third leg. That is, larger down trend from 1.2004 (2018 high) might still resume through 0.9407 at a later stage. However, decisive break of 1.0095 will argue that the long term down trend is reversing.

EUR/CHF edged higher to 0.9691 last week but turned sideway since then. Initial bias remains neutral this week first, and outlook is unchanged. Further rally is expected as long as 0.9617 support holds. Above 0.9691 will resume the rebound form 0.9513 to 38.2% retracement of 1.0095 to 0.9513 at 0.9735. However, firm break of 0.9617 will turn bias back to the downside for retesting 0.9513 low.

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 0.9804). 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.

In the long term picture, outlook remains bearish as it’s staying well below 55 M EMA (now at 1.0394). Break of 1.0095 resistance is needed to be the first sign of bottoming, or the multi-decade down trend is expected to continue.

Daily Pivots: (S1) 1.1290; (P) 1.1326; (R1) 1.1365; More…

A temporary low is in place at 1.1285 in EUR/CHF and intraday bias is turned neutral first. Deep fall is expected as long as 1.1489 support turned resistance holds. Below 1.1285 will target key support zone between 1.1154/98. We’d expect strong support from there to contain downside to complete the whole decline from 1.2004.

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) 1.1267; (P) 1.1283; (R1) 1.1298; More…

EUR/CHF is staying in consolidation above 1.1264 temporary low and intraday bias remains neutral first. On the downside, below 1.1264 will extend the corrective fall from 1.1476 towards 1.1162 key support. We’d expect strong support above there to bring rebound. On the upside, break of 1.1350 resistance will suggest that the pull back has completed. Intraday bias will be turned back to the upside for 1.1484 again.

In the bigger picture, at this point, we’re slightly favoring the case that corrective fall from 1.2004 has completed at 1.1162 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) 0.9834; (P) 0.9893; (R1) 0.9931; More….

EUR/CHF’s down trend resumed after brief consolidations. Intraday bias is back on the downside. Next target is 0.9650 long term projection level. On the upside, above 0.9953 minor resistance will turn intraday bias neutral again, and bring consolidations, before staging another fall.

In the bigger picture, rejection by 55 week EMA affirmed medium term bearishness. 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. 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) 0.9631; (P) 0.9649; (R1) 0.9673; More…

Intraday bias in EUR/CHF stays on the upside at this point. Rise from 0.9513 should continue to rally to 38.2% retracement of 1.0095 to 0.9513 at 0.9735. Sustained break there will target 61.8% retracement at 0.9873. On the downside, however, below 0.9602 minor support will dampen the bullish case and turn intraday bias neutral first.

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.

EUR/CHF’s decline resumed by taken out 1.0688 last week. Initial bias stays on the downside this week for further decline. Fall from 1.0877 is seen as the third leg of the pattern from 1.0915. Deeper fall should be seen to 1.0602 support next. On the upside, break of 1.0747 resistance is needed to signal short term bottoming. Otherwise, outlook will stay bearish 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) 0.9760; (P) 0.9805; (R1) 0.9858; More…

Intraday bias in EUR/CHF remains neutral for the moment. Outlook is unchanged that fall from 0.9995 is a correction to rise from 0.9704 only. Break of 0.9878 resistance will indicate that such correction has completed and target 0.9995. Firm break there should confirm that larger corrective decline from 1.0095 has completed at 0.9704 too.

In the bigger picture, prior rejection by 55 W EMA (now at 0.9971) 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) 0.9693; (P) 0.9784; (R1) 0.9836; More….

Intraday bias in EUR/CHF remains on the downside for the moment. Sustained break of 38.2% retracement of 0.8407 to 0.9953 will pave the way to 61.8% retracement a 0.9616, and possibly below. On the upside, though, above 0.9818 support turned resistance will turn intraday bias neutral first.

In the bigger picture, rejection by 0.9970 support turned resistance retains medium term bearishness. That is, while 0.9407 is a medium term bottom, price actions from there would develope into a corrective pattern rather than a reversal. That is, down trend resumption through 0.9407 is favored at a later stage. This will remain the favored case now, as long 38.2% retracement of 1.1149 to 0.9407 at 1.0072 holds.

Daily Pivots: (S1) 1.0394; (P) 1.0411; (R1) 1.0437; More….

Range trading continues in EUR/CHF above 1.0365 and intraday bias remains neutral for the moment. Further decline is expected as long as 1.0511 resistance holds. On the downside, break of 1.0365 will resume larger 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 now extending. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. On the upside, break of 1.0694 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) 0.9543; (P) 0.9556; (R1) 0.9570; More…

Intraday bias in EUR/CHF remains neutral for the moment as it’s staying bounded in consolidation above 0.9513. With 0.9599 resistance intact, further decline is expected. On the downside, firm break of 0.9513 will resume larger down trend from 1.0095. Next target is 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 0.9829). 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) 1.0841; (P) 1.0871; (R1) 1.0885; More…

Intraday bias in EUR/CHF remains neutral as correction from 1.0986 continues. While deeper decline could be seen this week, downside should be contained by 1.0791/0872 support zone, probably around 55 day EMA (now at 1.0828). Rise from 1.0629 is expected to resume later. Above 1.0902 minor resistance will turn bias back to the upside for 1.0986/0999.

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.

Daily Pivots: (S1) 1.0464; (P) 1.0507; (R1) 1.0531; More….

Intraday bias in EUR/CHF remains neutral for the moment. On the downside, firm break of 1.0439 should confirm rejection by 1.0623 fibonacci resistance, and bring retest of 1.0298 low. On the upside, sustained break of 38.2% retracement of 1.1149 to 1.0298 at 1.0623 will add to the case of bullish trend reversal.

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 1.0673) will argue that the down trend is over, and bring stronger rise back to 1.1149 next.

EUR/CHF’s consolidation pattern from 0.9953 continued last week and overall outlook is unchanged. Initial bias stays neutral this week first. On the upside, firm break of 0.9953 resistance will resume larger rally from 0.9407 to 1.0072 fibonacci level. However, break of 0.9720 will extend the decline from 0.9953 to 61.8% retracement of 0.8407 to 0.9953 at 0.9616.

In the bigger picture, as long as 38.2% retracement of 1.1149 to 0.9407 at 1.0072 holds, price actions from 0.9407 medium term bottom will be treated as a corrective pattern. That is, long term down trend would resume through this low at a later stage. Nevertheless, firm break of 1.0072 will also have 55 week EMA (now at 1.0074) taken out. That would be an initial sign of long term bullish reversal.

In the long term picture, capped well below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until firm break of 1.0505 support turned resistance (2020 low). In case of resumption, next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033.

Daily Pivots: (S1) 1.0674; (P) 1.0690; (R1) 1.0703; More…

Intraday bias is neutral in EUR/CHF remains neutral as it’s staying in range above 1.0668 temporary low. The bearish outlook remains unchanged. That is, rebound from 1.0629 has completed at 1.0823. And the larger decline from 1.1198 is likely still in progress. On the downside, below 1.0668 will target 1.0620/29 key support zone. Decisive break there will resume whole fall from 1.1198 and target next long term fibonacci level at 1.0485. Nonetheless, break of 1.0734 will suggest that pull back from 1.0823 is completed and turn bias back to the upside for this resistance.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Current development suggests that it’s not completed yet. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. In any case, break of 1.0823 resistance is needed to be the first indication of reversal. Otherwise, deeper fall is still expected even in case of recovery.