Daily Pivots: (S1) 1.0831; (P) 1.0845; (R1) 1.0867; More….

Intraday bias in EUR/CHF remains neutral and consolidation form 1.0802 is still extending. Outlook remains bearish as long as 1.0985 resistance intact. On the downside, break of 1.0802 will resume the decline from 1.1149, to 1.0737 cluster support next.

In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed with three waves up to 1.1149 already. Sustained trading below 55 week EMA (now at 1.0882) will affirm this bearish case. Further break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) will bring retest of 1.0505 low.

Daily Pivots: (S1) 1.1065; (P) 1.1084; (R1) 1.1102; More…

EUR/CHF is staying in consolidation from 1.1056 and intraday bias remains neutral first. More sideway trading could be seen. In case of another recovery, upside should be limited below 1.1264 resistance to bring fall resumption. On the downside, break of 1.1056 will extend the larger down trend for 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 next.

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) 1.0774; (P) 1.0795; (R1) 1.0809; More….

Intraday bias in EUR/CHF stays neutral first. On the upside, break of 1.088 resistance should confirm that consolidation pattern from 1.0915 has completed at 1.0661. Further rise should be seen to 1.0915 and above. However, on the downside, firm break of 1.0790 will extend the consolidation from 1.0915 with another falling leg, back 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) 1.0774; (P) 1.0785; (R1) 1.0803; More…

Intraday bias in EUR/CHF remains neutral for the moment and more sideway trading could be seen. Further rise is expected with 1.0721 support intact. On the upside, break of 1.0877 resistance will extend the rebound from 1.0602 for retesting 1.0915 high. On the downside, however, firm break of 1.0721 will argue that the rebound from 1.0602 has completed. Intraday bias will be turned back to the downside for 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.

Despite diminishing downside momentum as seen in 4 hour MACD, EUR/CHF dropped further to as low as 1.1163 last week. Break of 1.1173 low should indicate resumption of medium term decline from 1.2555. But decisive break of 1.1154 fibonacci level is needed to confirm. But in any case, further decline is expected this week as long as 1.1256 resistance holds, even in case of recovery. Firm break of 1.1154 will pave the way to 61.8% projection of 1.2004 to 1.1173 from 1.1444 at 1.0930.

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.

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) 1.1082; (P) 1.1117; (R1) 1.1158; More….

Intraday bias in EUR/CHF remains on the upside with focus on 100% projection of 1.0503 to 1.0915 from 1.0737 at 1.1149 will pave the way to 161.8% projection at 1.1404. On the downside, below 1.1073 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 1.0954 support holds, in case of retreat.

In the bigger picture, current development suggests that whole down trend from 1.2004 (2018 high) has 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.

EUR/CHF surged to as high as 1.0797 last week and closed strongly at 1.0785. The strong break of 1.0749 resistance indicate short term bottoming on bullish convergence condition in 4 hour MACD and daily MACD. More importantly, it’s seen as an early sign of trend reversal after defending 1.0620 key support level. That is, correction from 1.1198 could have completed.

Initial bias is now on the upside this week for a test on 1.0897 resistance. decisive break should confirm this bullish case and target 1.0999 next. On the downside, Bel;ow 1.0749 minor support will turn bias neutral first. But further rise will now remain in favor as long as 1.0689 support holds.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Decisive break of 1.0897 resistance should confirm that it’s completed. And in that case, larger up trend is resuming for another high above 1.1198. Meanwhile, sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485.

EUR/CHF edged higher to 1.1804 last week but quickly lost momentum. Outlook is unchanged. While rebound from 1.1445 might extend, we’d stay cautious on strong resistance from 1.1832 to bring near term reversal. On the downside, below 1.1730 minor support will turn bias to the downside first. Further break of 1.1649 support will indicate completion of rebound form 1.1445. And the corrective pattern from 1.1832 would then extend with another decline to retest 1.1445. However, firm break of 1.1832 will confirm resumption of larger up trend.

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) 0.9401; (P) 0.9413; (R1) 0.9428; More…

EUR/CHF’s rise from 0.9304 is in progress and intraday bias remains on the upside for 0.9471 resistance. 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) 1.0697; (P) 1.0722; (R1) 1.0770; More…

EUR/CHF is staying in consolidation from 1.0650 temporary low and intraday bias remains neutral. Further decline is expected as long as 1.0799 minor resistance holds. Below 1.0650 will target a test on 1.0503 low. Nevertheless, break of 1.0799 will turn bias back to the upside for retesting 1.0915 resistance.

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.

Daily Pivots: (S1) 1.1028; (P) 1.1045; (R1) 1.1067; More….

Intraday bias in EUR/CHF remains neutral for the moment. Consolidation from 1.1149 is still in progress and deeper decline cannot be ruled out. But downside should be contained by 1.0954 to bring rebound, and then rally resumption. On the upside, break of 1.1116 will argue that larger rise from 1.0504 is ready to resume through 1.1149 high.

In the bigger picture, whole down trend from 1.2004 (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.

Daily Pivots: (S1) 1.0058; (P) 1.0118; (R1) 1.0190; More….

Intraday bias in EUR/CHF remains neutral for consolidation above 0.9970. Stronger recovery cannot be ruled out. But upside should be limited well below 1.0298 support turned resistance to bring down trend resumption. On the downside, firm break of 0.9970 will target 161.8% projection of 1.0936 to 1.0298 from 1.0610 at 0.9578.

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) 1.1520; (P) 1.1535; (R1) 1.1561; More…

Intraday bias in EUR/CHF remains neutral for consolidation above 1.1489 temporary low. We’d expect upside of recovery to 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) 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.

Daily Pivots: (S1) 1.0737; (P) 1.0768; (R1) 1.0789; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.0838 temporary top is extending. Further rise is expected with 1.0712 minor support intact. On the upside, break of 1.0838 will target 1.0915 high. Firm break there will resume whole rise from 1.0503 to 100% projection of 1.0503 to 1.0915 from 1.0602 at 1.1014 next. However, break of 1.0712 support will dampen this bullish view. Intraday bias will be turned back to the downside for 1.0602, to extend the corrective pattern from 1.0915 instead.

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 1.1059/76 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) 1.0560; (P) 1.0582; (R1) 1.0613; More…

EUR/CHF is staying in range above 1.0523 and intraday bias remains neutral first. Outlook stays bearish with 1.0710 resistance intact. Break of 1.0523 will resume larger down trend to 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. However, on the upside, break of 1.0710 will indicate short term bottoming. Stronger rebound would be seen back to 1.0811/1059 resistance zone.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. Sustained break of 1.0629 will pave the way to parity next. In any case, outlook will remain bearish as long as 1.0811 support turned resistance holds, in case of rebound. However, considering bullish convergence condition in daily MACD, firm of 1.0811 resistance will indicate medium term bottoming.

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.

Daily Pivots: (S1) 1.1407; (P) 1.1428; (R1) 1.1454; More…

EUR/CHF’s rebound from 1.1343 extends higher and break of 1.1429 turns focus back to 1.1501 resistance. Break there will revive the case of reversal. Further rally would be seen to 1.1713 resistance. On the downside, break of 1.1343 will turn bias back to the downside for 1.1154/98 key support zone.

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 1.1243) 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) 1.0867; (P) 1.0901; (R1) 1.0939; More…..

A temporary low is formed at 1.0863 with today’s recovery. Intraday bias is turned neutral for some consolidations. Upside of recovery should be limited below 1.1062 resistance to bring fall resumption. On the downside, break of 1.0863 will target 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645.

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 should target 1.0629 support and below.

Daily Pivots: (S1) 1.0132; (P) 1.0160; (R1) 1.0188; More….

EUR/CHF is staying in consolidation above 1.0096 and intraday bias remains neutral first. Outlook is unchanged that corrective rebound from 0.9970 should have completed after failing 1.0505 long term resistance. Risk stays on the downside as long as 1.0513 resistance holds. On the downside, below 1.0096 will target a retest on 0.9970 low.

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.