Daily Pivots: (S1) 0.9428; (P) 0.9443; (R1) 0.9467; More…

Intraday bias in EUR/CHF remains neutral for some more consolidations. But outlook stays bearish as long as 0.9532 resistance holds. 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.

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.

EUR/CHF’s rebound halted after hitting 1.1414 last week. But subsequent retreat was contained well above 1.1221 so support so far. Intraday bias stays neutral this week and further rise remains in favor. On the, above 1.1414 will target 1.1452 resistance first. Decisive break there 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. However, break of 1.1221 will turn focus back to 1.1154/98.

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) 0.9329; (P) 0.9387; (R1) 0.9421; More…

EUR/CHF’s decline resumed after brief consolidations and hit as low as 0.9327 so far. Intraday bias is back on the downside. Firm break of 61.8% projection of 0.9995 to 0.9416 from 0.9683 at 0.9325, will pave the way to 100% projection at 0.9104 next. On the upside, above 0.9395 minor resistance will turn bias neutral fist. but outlook will stay bearish as long as 0.9543 resistance holds, even in case of strong recovery.

In the bigger picture, medium term outlook remains bearish as long as 0.9683 resistance holds. Current fall from 1.2004 (2018 high) is part of the multi-decade down trend. Next target is 61.8% projection of 1.1149 (2020 high) to 0.9407 from 1.0095 at 0.9018.

Daily Pivots: (S1) 1.0836; (P) 1.0848; (R1) 1.0870; More….

EUR/CHF is staying in consolidation from 1.0811 low and intraday bias remains neutral first. As noted before, rebound from 1.0694 has possibly completed at 1.0936 already. Break of 1.0811 will turn bias to the downside and resume the fall for retesting 1.0694 low. On the upside, however, above 1.0884 minor resistance will turn bias back to the upside for 1.0936 resistance again.

In the bigger picture, the stronger than expected rebound from 1.0694 and break of 55 week EMA (now at 1.0861) mixes up the medium term outlook. On the upside, break of 1.1149 will resume the whole rise from 1.0505 (2020 low). On the downside, break of 1.0694 will revive some medium term bearishness for 1.0505 and below.

Daily Pivots: (S1) 1.0658; (P) 1.0685; (R1) 1.0710; More…

Intraday bias in EUR/CHF remains neutral for consolidation above 1.0635 temporary low. Further decline is still expected as long as 1.0769 resistance holds. Break of 1.0635 will extend the fall from 1.0915 to 61.8% projection of 1.0915 to 1.0650 from 1.0769 at 1.0605 first. Sustained break there will target 100% projection at 1.0504, which is close to 1.0503 low.

In the bigger picture, as long as 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) holds, price actions from 1.0503 are seen as a consolidation pattern. That is, down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1049/76 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 spent last week inside recently established range and outlook is unchanged. Initial bias remains neutral this week first. Consolidation from 1.1445 could extend further. But outlook will remain bearish as long as 1.1639 resistance holds. Break of 1.1445 will resume the corrective fall from 1.1832 and target 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) At this point, we’d expect strong support from there to contain downside and bring rebound.

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) 1.1550; (P) 1.1595; (R1) 1.1664; More….

Intraday bias in EUR/CHF remains mildly on the upside for further rebound. The pull back from 1.2004 should have completed at 1.1366. Further rise would be seen for 61.8% retracement at 1.1760 and above. On the downside, break of 1.1505 support is needed to confirm completion of the rebound. Otherwise, further rally will remain mildly in favor even in case of retreat.

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.

Daily Pivots: (S1) 1.1270; (P) 1.1290; (R1) 1.1303; More…

Intraday bias in EUR/CHF remains mildly on the downside for 1.1260 support first. Break will resume the whole decline from 1.1501 and target 1.1173 low. On the upside, break of 1.1356 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will be mildly bearish even in case of recovery.

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.

Daily Pivots: (S1) 0.9823; (P) 0.9835; (R1) 0.9846; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 0.9797 is still extending. Deeper decline is in favor with 0.9889 minor resistance intact. Break of 0.9797 will target 0.9704 support and possibly below, as whole corrective pattern from 1.0095 extends. On the upside, though, break of 0.9889 minor resistance will turn intraday bias back to the upside for stronger rebound.

In the bigger picture, prior rejection by 55 W EMA (now at 0.9989) 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) 1.0512; (P) 1.0537; (R1) 1.0551; More…

EUR/CHF drops further today but still stays above 1.0503 temporary low. Intraday bias remains neutral at this point. Another rise cannot be ruled out as consolidation extends. But upside should be limited by 1.0653 resistance to bring down trend resumption. On the downside, 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. Strong rebound would then be seen back to 1.0811/1059 resistance zone.

Daily Pivots: (S1) 0.9762; (P) 0.9780; (R1) 0.9797; More…

Intraday bias in EUR/CHF remains neutral at this point. 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.

Daily Pivots: (S1) 0.9783; (P) 0.9812; (R1) 0.9834; More…

Intraday bias in EUR/CHF is turned neutral with current retreat. On the upside, break of 0.9840 will resume the rebound from 0.9670 resistance. Firm break there should confirm that whole correction from 1.0995 has completed at 0.9670. On the downside, break of 0.9763 minor support will turn bias back to the downside for retesting 0.9670 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 0.9924). 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) 1.1422; (P) 1.1450; (R1) 1.1479; More…

EUR/CHF retreats mildly after hitting 1.1476 and intraday bias is turned neutral for some consolidations first. Near term outlook stays bullish as long as 1.1366 minor support holds and further rally is expected. On the upside, decisive break of 38.2% retracement of 1.2004 to 1.1162 at 1.1484 should confirm completion of corrective fall from 1.2004. Further rally should then be seen to 61.8% retracement at 1.1682 and above. Nevertheless, break of 1.1366 would indicate rejection from 1.1484 fibonacci level and turn bias to the downside.

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) 0.9465; (P) 0.9543; (R1) 0.9588; More….

Intraday bias in EUR/CHF is turned neutral again with current recovery, but outlook remains bearish with 0.9712 resistance intact. Break of 0.9407 will resume larger down trend. Next target is 61.8% projection of 1.0512 to 0.9550 from 0.9864 at 0.9269.

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 0.9864 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.

Daily Pivots: (S1) 0.9575; (P) 0.9612; (R1) 0.9631; More…

Intraday bias in EUR/CHF remains neutral for the moment. On the upside, break of 0.9647 will resume the rebound from 0.9520. Further sustained break of 0.9670 will be the first sign of bullish reversal and target 0.9840 resistance for confirmation. On the downside, break of 0.9520 will resume the whole fall from 1.0095 towards 0.9407 low.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9849). 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 0.9840 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.0315; (P) 1.0337; (R1) 1.0374; More….

EUR/CHF’s down trend resumed by taking out 1.0324 and hit as low as 1.0298. But a temporary low was quickly formed and intraday bias is turned neutral again first. Upside of recovery should be limited below 1.0510 resistance to bring another fall. Break of 1.0298 will resume the down trend from 1.1149 and target 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) 1.1519; (P) 1.1539; (R1) 1.1551; More…

EUR/CHF weakens mildly after hitting 4 hour 55 EMA. But it’s held well above 1.1489 temporary low. Intraday bias remains neutral and more consolidation could be seen. In case of another recovery, though, upside should be limited by 1.1603 minor resistance to bring fall resumption. We’re holding on to the view that corrective rebound from 1.1366 has completed at 1.1713. Break of 1.1478 support will confirm and target 1.1366 low and below. However, break of 1.1603 will turn bias back to the upside for 1.1713 resistance instead.

In the bigger picture, 1.2004 is seen as a medium term top with bearish divergence condition in daily and weekly MACD. 1.2000 is also an important resistance level. Hence, the corrective pattern from 1.2004 is expected to extend for a while before completion. 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.

Daily Pivots: (S1) 0.9627; (P) 0.9638; (R1) 0.9654; More…

Intraday bias in EUR/CHF remains neutral at this point. On the upside, decisive break of 0.9691 resistance will carry larger bullish implication, and target 0.9840 resistance next. However, break of 0.9620 support will indicate short term topping, and turn bias back to the downside for deeper pull back.

In the bigger picture, fall from 1.0095 (2023 high) might have completed at 0.9416, just ahead of 0.9407 support (2022 low). Sustained break of 0.9691 cluster resistance (38.2% retracement of 1.0095 to 0.9416 at 0.9675) will pave the way to 61.8% retracement at 0.9836 and above. However, rejection by 0.9691 will maintain medium term bearishness for another test on 0.9407 at least.

Daily Pivots: (S1) 1.0929; (P) 1.0964; (R1) 1.1034; More….

EUR/CHF rises to as high as 1.1051 so far today, and broke 61.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.0992 already. There is no sign of topping so far. Intraday bias stays on the upside for 1.1059/76 long term cluster resistance next. Decisive break there will carry larger bullish implications. On the downside, below 1.0947 minor support will turn intraday bias neutral and bring some 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) 1.0867; (P) 1.0887; (R1) 1.0903; More…

With 1.0926 minor resistance intact, intraday bias in EUR/CHF stays mildly on the downside for 1.0863 support. Break will target 1.0811 low next. On the upside, above 1.0926 minor resistance will turn intraday bias neutral again. 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.