Daily Pivots: (S1) 0.9464; (P) 0.9485; (R1) 0.9501; More…

Intraday bias in EUR/CHF remains neutral and more consolidations could be seen below 0.9510. Downside of retreat should be contained by 0.9413 minor support to bring another rally. On the upside, break of 0.9510 will resume the rebound from 0.9252 and target 0.9574 fibonacci level and above.

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) 1.0400; (P) 1.0424; (R1) 1.0445; More….

Intraday bias in EUR/CHF remains neutral for the moment, but further fall is still expected as long as 1.0511 resistance holds. On the downside, break of 1.0365 will resume larger down trend to 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. Nevertheless, firm break of 1.0511 will confirm short term bottoming, and bring stronger rebound to 55 day EMA (now at 1.0577) and possibly above.

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) 0.9672; (P) 0.9697; (R1) 0.9709; More….

No change in EUR/CHF’s outlook and intraday bias remains neutral at this point. On the upside, break of 0.9740 minor resistance will argue that pull back from 0.9928 has completed after hitting 38.2% retracement of 0.9252 to 0.9928 at 0.9670. Intraday bias will be back on the upside for stronger rebound. Nevertheless, sustained break of 0.9670 will bring deeper fall to 0.9563 support instead.

In the bigger picture, as long as 0.9563 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) 1.1247; (P) 1.1271; (R1) 1.1284; More…

EUR/CHF breached 1.1264 as fall from 1.1476 resumed. Intraday bias is mildly on the downside towards 1.1162 low. We’d expect strong support above there to bring rebound. On the upside, break of 1.1317 minor 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) 1.1935; (P) 1.1963; (R1) 1.2001; More…

EUR/CHF recovered strongly, but it’s still staying below 1.2004 temporary top. Intraday bias remains neutral first. Consolidation could extend but should be relatively brief as long as 1.1888 minor support holds. Decisive break of 1.2 will pave the way to 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. However, considering bearish divergence condition in 4 hour MACD, break of 1.1888 will indicate short term topping. In that case, deeper pull back would be seen back to 1.1445/1832 support zone.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2003 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.

EUR/CHF’s recovery from 1.1119 extended to 1.1264 last week but failed to break through 1.1278 resistance as expected. Initial bias is neutral this week first and some more consolidations could be seen. On the downside, break of 1.1186 minor support will turn intraday bias back to the downside for 1.1119 first. Break there will extend recent down trend to 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 next limited.

In the bigger picture, current development firstly suggests that down trend from 1.2004 is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Outlook will remain bearish as long as 1.1476 resistance holds. EUR/CHF could target 1.0629 support and below.

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) 1.1377; (P) 1.1403; (R1) 1.1439; More…

EUR/CHF’s rally is still in progress and intraday bias remains on the upside for 1.1501 key resistance. Decisive break there will complete double bottom reversal pattern (1.1173, 1.1181) and turn outlook bullish. On the downside, break of 1.1259 support is needed to confirm completion of the rebound. Otherwise, further rise is expected in case of retreat.

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.

EUR/CHF edged lower to 0.9601 last week but recovered since then. Initial bias remains neutral this week for consolidations. Outlook will stay bearish as long as 0.9684 resistance holds. On the downside, break of 0.9601 will resume larger decline from 1.0095, and target 100% projection of 0.9995 to 0.9670 from 0.9840 at 0.9515. On the upside, however, break of 0.9684 will indicate short term bottoming, and bring stronger rebound.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9889). Down trend from 1.2004 (2018 high) is in favor to extend through 0.9407 at a later stage. Nevertheless, decisive break of 38.2% retracement of 1.1149 to 0.9407 will raise the chance of bullish trend reversal.

In the long term picture, it’s still way too early too call for bullish trend reversal with upside capped well below 55 M EMA (now at 1.0459) and 1.0505 support turned resistance (2020 low). The multi-decade down trend could still continue.

Daily Pivots: (S1) 1.1950; (P) 1.1970; (R1) 1.1991; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.2004 temporary top extends. Further rise is expected, though, as long as 1.1888 minor support holds. On the upside, decisive break of 1.2 will pave the way to 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. However, considering bearish divergence condition in 4 hour MACD, break of 1.1888 will indicate short term topping. In that case, deeper pull back would be seen back to 1.1445/1832 support zone.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2003 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.

EUR/CHF lost downside momentum last week as seen in 4 hour MACD. But there is no sign of recovery. Further decline is expected this week for 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. In any case, break of 1.0737 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. While initial support might be seen from 1.0629 on first attempt, outlook will stay bearish as long as 1.1059 resistance holds. Decisive break of 1.0629 will pave the way to parity next.

Daily Pivots: (S1) 1.0264; (P) 1.0301; (R1) 1.0346; More….

Intraday bias in EUR/CHF remains mildly on the upside at this point. Rebound from 0.9970 is probably correcting whole down trend from 1.1149. Next target is 38.2% retracement of 1.1149 to 0.9970 at 1.0420. On the downside, however, break of 1.0184 support will turn bias back to the downside for retesting 0.9970 low instead.

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. Firm break there will target 100% projection at 0.9650. In any case, break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 1.1375; (P) 1.1410; (R1) 1.1440; More…

No change in EUR/CHF’s outlook and intraday bias remains neutral. On the downside, break of 1.1361 minor support suggest rejection by 1.1452 resistance. Intraday bias will then be turned back to the downsides for retesting 1.1154/98. On the upside, decisive break of 1.1452 resistance should confirm bullish reversal, after drawing strong support from 1.1154/98 zone. In that case, outlook will be turned bullish for 1.1713 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. 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.

EUR/CHF dropped sharply to as low as 1.1212 last week. The strong break of 1.1310 support confirmed that rebound from 1.1181 has completed at 1.1444. Initial bias remains on the downside this week for retesting 1.1173 low, as well as 1.1154/98 key support zone. We’d look for strong support from there to bring rebound. But decisive break will carry larger bearish implication. On the upside, above 1.1298 minor resistance will turn bias back to the upside for rebound.

In the bigger picture, with last week’s sharp decline, price actions from 1.1173 are now looking more like a consolidation that’s completed at 1.1444. Bearishness is also reflected in multiple rejection by 55 week EMA. Immediate focus is back 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. 1.0629 support will be next target.

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 possibly below.

Daily Pivots: (S1) 1.1382; (P) 1.1403; (R1) 1.1440; More…

EUR/CHF drops sharply after hitting 1.1422, ahead of 1.1444 key resistance. Intraday bias is turned neutral first. For now, further rise is mildly in favor as long as 1.1343 minor support holds. Decisive break of 1.1444 will indicate larger bullish reversal. However, break of 1.1343 will argue that the whole rebound from 1.1162 has completed. 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.

Daily Pivots: (S1) 0.9766; (P) 0.9786; (R1) 0.9804; More…

EUR/CHF’s rally resumed by breaking through 0.9818 resistance and intraday bias is back on the upside. Current rally from 0.9252 would target 38.2% projection of 0.9304 to 0.9818 from 0.9709 at 0.9905. For now, break of 0.9709 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, a medium term bottom should be in place at 0.9252 already, on bullish convergence condition in W MACD. Rise from there would now 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. This will remain the favored case as long as 55 D EMA (now at 0.9599) holds.

Daily Pivots: (S1) 1.1174; (P) 1.1209; (R1) 1.1236; More…

No change in EUR/CHF’s outlook. We’d continue to expect strong support from key support zone of 1.1154/98 to bring rebound. On the upside, break of 1.1319 resistance will indicate short term bottoming. In such case, intraday bias will be turned back to the upside for 1.1452 resistance next. However, sustained break of 1.1154/98 will carry larger bearish implications.

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 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 1.1196) 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.

EUR/CHF’s consolidation from 1.2004 continued last week as the cross stayed in very tight range. Initial bias remains neutral this week first. With 1.1888 minor support intact, further rally is expected. Sustained break of 1.2 level will extend larger up trend to 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. However, consider bearish divergence condition in 4 hour MACD, break of 1.1888 will indicate short term topping. In that case, deeper pull back would be seen back to 1.1445/1832 support zone.

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.

Daily Pivots: (S1) 1.0813; (P) 1.0820; (R1) 1.0829; More….

Intraday bias in EUR/CHF stays mildly on the upside first. Rebound from 1.0715 short term bottom is in progress for 38.2% retracement of 1.1149 to 1.0715 at 1.0881. We’d monitor the reaction to 1.0881 to assess the chance of bullish reversal. On the downside, break of 1.0788 minor support will turn bias back to the downside for retesting 1.0715 low instead.

In the bigger picture, rebound from 1.0505 (2020 low) should have completed at 1.1149 already. The three wave corrective structure argues that the downtrend from 1.2004 (2018 high) is not over yet. Medium term outlook will now stay bearish as long as 1.1149 resistance holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 0.9340; (P) 0.9361; (R1) 0.9375; More…

Intraday bias in EUR/CHF is mildly on the upside with breach of 0.9363 minor resistance. Pull back from 0.9471 could have completed at 0.9304 already. Rise from there would extend to 0.9471 resistance first. On the downside, break of 0.9304 will resume the fall from 0.9471 instead. But still, downside should be contained above 0.9252 low to bring rebound.

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.