EUR/CHF’s recovery last week argues that pull back from 1.0986 has completed at 1.0837. But the cross lost momentum after hitting 1.0907. Initial bias is neutral this week first. On the upside, above 1.0907 will confirm our view and target a test on 1.0986/0999 resistance zone. Below 1.0837 will extend the correction lower. Still, we’d expect strong support from 1.0791/0872 support zone to contain downside and bring rebound.

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) 0.9863; (P) 0.9904; (R1) 0.9931; More….

EUR/CHF is still staying in range below 0.9953 minor resistance. Intraday bias remains neutral first. On the upside, break of 0.9953 minor resistance will suggest short term bottoming at 0.9804, on bullish convergence condition in 4 hour MACD. Intraday bias will be back on the upside for 55 day EMA (now at 1.0110). On the downside, break of 0.9804 will resume larger down trend to 0.9650 long term projection level.

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. 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) 1.0992; (P) 1.1008; (R1) 1.1026; More…

No change in EUR/CHF’s outlook as it’s staying in tight range above 1.0964 minor support. Intraday bias remains neutral first. Price actions form 1.0811 are viewed as a consolidation pattern. Upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065). On the downside, break of 1.0964 minor support will turn bias to the downside for retesting 1.0811 low. However, sustained break of 1.1062/5 will carry larger bullish implication and bring stronger rise.

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 extended sideway trading above 61.8% retracement of 0.9407 to 1.0095 at 0.9670 last week. Initial bias stays neutral this week first. On the upside, firm break of 0.9760 resistance should confirm short term bottoming, after drawing support from 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).

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 1.0484) and 1.0505 support turned resistance (2020 low). The multi-decade down trend could still continue.

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.

EUR/CHF’s fall last week suggests that corrective rebound from 1.0324 has completed at 1.0510 already. Initial bias remains on the downside this week for 1.0324 first. Firm break there 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. On the upside, above 1.0401 minor resistance will extend the corrective pattern with another rise leg. But upside should be limited by 38.2% retracement of 1.0936 to 1.0324 at 1.0558.

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.

In the long term picture, prior rejection by 55 month EMA (now at 1.0967) maintains long term bearishness. Down trend from 1.2004 is now in progress for 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. Firm break there will target 100% projection at 0.9650.

Daily Pivots: (S1) 1.0510; (P) 1.0521; (R1) 1.0528; More…

EUR/CHF is still bounded in consolidation from 1.0503. Intraday bias remains neutral first. In case of another rise, upside should be limited by 1.0653 resistance to bring down trend resumption. On the downside, firm break of 1.0503 will target 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress for parity next. In any case, outlook will remain bearish as long as 1.0653 resistance holds. However, considering bullish convergence condition in daily MACD, firm break of 1.0653 resistance will indicate medium term bottoming. Stronger rebound would then be seen back to 1.0811/1059 resistance zone.

Daily Pivots: (S1) 1.0198; (P) 1.0218; (R1) 1.0242; More….

Intraday bias in EUR/CHF remains neutral for the moment. On the downside, break of 1.0814 will indicate that rebound from 0.9970 has completed at 1.0400, ahead of 38.2% retracement of 1.1149 to 0.9970 at 1.0420. In this case, intraday bias will be turned back to the downside for retesting 0.9970 low. On the upside, break of 1.0400 will resume the rebound to 1.0610 key structural resistance.

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. In any case, sustained break of 1.0505 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

EUR/CHF’s consolidation from 1.1149 continued lower last week and it’s now pressing 1.0954 support. At this point, we’d still expect strong support from current level to 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) 0.9889; (P) 0.9918; (R1) 0.9937; More….

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. On the upside, break of 0.9953 minor resistance will suggests short term bottoming at 0.9804, on bullish convergence condition in 4 hour MACD. Intraday bias will be back on the upside for 55 day EMA (now at 1.0125). on the downside, break of 0.9804 will resume larger down trend to 0.9650 long term projection level.

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. 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) 1.0522; (P) 1.0592; (R1) 1.0674; More…

EUR/CHF’s strong rebound and break of 1.0611 resistance completed a double bottom pattern (1.0503, 1.0504). Intraday bias is now back on the upside for stronger rebound to 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. For now, risk will stay mildly on the upside as long as 1.0503 holds, in case of retreat.

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) 0.9707; (P) 0.9723; (R1) 0.9756; More…

Intraday bias in EUR/CHF stays neutral and outlook is unchanged. On the upside, firm break of 0.9760 resistance should confirm short term bottoming after hitting 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Intraday bias will be back on the upside for 0.9878 resistance next. However, 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 0.9938). Down trend from 1.2004 (2018 high) 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).

EUR/CHF continued to gyrate in established range last and outlook is unchanged. Initial bias stays neutral this week first. On the upside break of 0.9840 will resume the rebound from 0.9670. That will also revive the case that whole corrective decline from 1.0095 has completed at 0.9670. Further rally should be seen to 0.9878 resistance next. However, sustained trading below 0.9670 will resume the whole fall from 1.0095.

In the bigger picture, medium term outlook is staying bearish as the pair is capped below falling 55 W EMA (now at 0.9913). Down trend form 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) 1.1167; (P) 1.1186; (R1) 1.1202; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1162 temporary low is extending. For now, further decline is expected as long as 1.1256 minor resistance holds. Decisive break of 1.1154 key fibonacci level will confirm resumption of whole downtrend from 1.2004. That should then pave the way to 61.8% projection of 1.2004 to 1.1173 from 1.1444 at 1.0930. However, break of 1.1256 will indicate short term bottoming and turn back to the upside for 1.1310 support turned resistance first.

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.

Daily Pivots: (S1) 0.9731; (P) 0.9755; (R1) 0.9803; More…

EUR/CHF is extending the consolidation from 0.9818 and intraday bias remains neutral. Another rally is expected as long 0.9689 support holds. On the upside, above 0.9818 will resume the rise from 0.9252 towards 1.0095 key resistance next. Nevertheless, considering bearish divergence condition in 4H MACD, break of 0.9689 will indicate short term topping, and turn bias back to the downside for 55 D EMA (now at 0.9590) instead.

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 0.9576) holds.

Daily Pivots: (S1) 1.1429; (P) 1.1456; (R1) 1.1474; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 1.1491 temporary top. Another rise is expected with 1.1368 minor support intact. We’re holding on to the view on bullish trend reversal after EUR/CHF drew support from 1.1154/98 zone. On the upside, above 1.1491 will target 1.1713 resistance for confirmation. Break there will target a test on 1.2004 high next. Meanwhile, note that upside momentum is not to convincing so far. Break of 1.1368 minor support will argue that the rebound has completed and turn bias back to the downside for 1.1154/98 zone again.

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.

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) 1.0697; (P) 1.0727; (R1) 1.0745; More…

EUR/CHF is staying in consolidation above 1.0677 and intraday bias remains neutral. Above 1.0762 will extend the corrective rise from 1.0677. But overall, outlook will stay bearish as long as 1.0897 resistance holds. Corrective pattern from 1.1198 is still in progress and another fall is expected. Below 1.0677 will target key support level at 1.0620 next. Though, decisive break of 1.0897 resistance will suggest reversal and turn near term outlook bullish.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress and retest of 38.2% retracement of 0.9771 to 1.1198 at 1.0653 could be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. Meanwhile, break of 1.0897 resistance is needed to be the sign of completion of the correction. Otherwise, risk will stay on the downside in case of recovery.

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Daily Pivots: (S1) 0.9747; (P) 0.9763; (R1) 0.9786; More…

Intraday bias in EUR/CHF remains neutral for the moment. Outlook is unchanged that fall from 0.9835 is seen as the third leg of the corrective pattern from 0.9847. Risk will stay on the downside as 0.9835 resistance holds. Below 0.9278 will turn bias back to the downside for 0.9563 support.

In the bigger picture, as long as 0.9563 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Break of 0.9847 resistance 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.

Daily Pivots: (S1) 1.0455; (P) 1.0517; (R1) 1.0551; More….

Intraday bias in EUR/CHF remains neutral for the moment. On the downside, break of 1.0439 support will argue that rebound from 1.0298 has completed, ahead of 38.2% retracement of 1.1149 to 1.0298 at 1.0623. Deeper fall will then be seen back to retest 1.0298 low. On the upside, sustained break of 1.0623 will raise the chance of trend reversal and target 61.8% retracement at 1.0824 next.

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.