Daily Pivots: (S1) 1.1515; (P) 1.1540; (R1) 1.1568; More….

Breach of 1.1585 minor resistance argues that pull back from 1.1656 has completed at 1.1478. Intraday bias is mildly on the upside for 1.1656 and above. But we’d expect upside to be limited by 61.8% retracement of 1.2004 to 1.1366 at 1.1760 to complete the corrective rebound from 1.1366. On the downside, below 1.1478 will target 1.1366 low instead.

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.

EUR/CHF stayed in corrective trading below 1.1721 last week. As downside of retreat was contained well above 1.1541 near term support, outlook stays bullish. Decisive break of 1.1721 will resume the medium term tup trend and target 1.2 key level. On the downside, considering bearish divergence condition in 4 hour MACD and daily MACD, decisive break of 1.1541 will confirm topping and turn near term outlook bearish for 1.1355 key support.

In the bigger picture, long term rise from SNB spike low back in 2015 is still in progress. EUR/CHF should now be heading back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1355 support holds. However, break of 1.1355 will indicate medium term topping. In that case, EUR/CHF should head back to 55 week EMA (now at 1.1142) and possibly below.

Daily Pivots: (S1) 1.0614; (P) 1.0634; (R1) 1.0650; More…

Outlook in EUR/CHF remains unchanged as consolidation from 1.0523 is extending. Intraday bias remains neutral first and further decline is expected 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) 1.1217; (P) 1.1264; (R1) 1.1306; More…

Intraday bias in EUR/CHF remains neutral as range trading continues. In case of another fall, we’d continue to expect strong support from key support zone of 1.1154/98 to bring reversal. On the upside, break of 1.1342 will reaffirm the case of bullish reversal and target 1.1452 resistance for confirmation. 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 1.1207) 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 down trend resumption last week and dropped to as low as 1.0906. Initial bias remains on the downside this week. Current fall from 1.1476 is part of the whole decline from 1.2004. Next target is 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645. On the upside, break of 1.1062 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 0.9490; (P) 0.9531; (R1) 0.9582; More….

Intraday bias in EUR/CHF remains neutral for consolidation above 0.9476. While stronger recovery cannot be ruled out, outlook will stay bearish as long as 0.9683 resistance holds, and fall from 0.9928 is expected to resume later. Below 0.9476 and sustained trading below 61.8% retracement of 0.9252 to 0.9928 at 0.9510 will raise the chance of long term down trend resumption, and target 0.9252 low next.

In the bigger picture, the break of 0.9563 support, as well as 55 W EMA (now at 0.9672) argues that rebound from 0.9252 has completed at 0.9928. Medium term bearish is maintained with both 1.0095 resistance intact. Firm break of 0.9252 will resume the down trend from 1.2004 (2018 high).

EUR/CHF stayed in consolidation below 1.2004 temporary top last week and outlook is unchanged. Initial bias remains neutral first week first. Further rally is expected as long as 1.1888 minor support holds. Decisive break of 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, 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 1.2003 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.

Daily Pivots: (S1) 1.1261; (P) 1.1290; (R1) 1.1318; More…

Despite breaching 1.1265 minor support, EUR/CHF quickly recovered. Intraday bias is turned neutral first. ON the upside, break of 1.1342 resistance will revive the case of near term reversal. Bias would be turned back to the upside for 1.1452 resistance for confirmation. In case of another fall, we’d continue to expect strong support from 1.1154/98 key support zone to bring rebound.

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 stayed in range of 1.0184/0400 last week and outlook is unchanged. Initial bias remains neutral first and more sideway trading could be seen. On the upside, break of 1.0400 will resume the rebound from 0.9977 to 1.0610 key structural resistance next. On the downside, however, break of 1.0184 will turn bias back to the downside for retesting 0.9970 low.

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.

In the long term picture, capped below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until some sustained trading above the 55 month EMA (now at 1.0891).

Daily Pivots: (S1) 1.1072; (P) 1.1100; (R1) 1.1127; More…

EUR/CHF’s consolidation from 1.1056 is still in progress and intraday bias remains neutral first. In case of stronger recovery, upside should be limited below 1.1264 resistance to bring further decline. On the downside, break of 1.1056 will resume 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.

EUR/CHF edged higher to 1.1501 last week but dropped sharply since then. The development argues that corrective rise from 1.1173 has completed at 1.1501. Further decline is now expected this week as long as 1.1429 minor resistance holds. Deeper fall would be seen back to 1.1154/98 key support zone again. At this point, we’d still expect this key support zone to hold. On the upside, above 1.1429 minor resistance will turn focus back to 1.1501 first. But still, break there is needed to confirm rally resumption. Otherwise, risk will stay on the downside even in case of strong 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. 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) 1.1220; (P) 1.1242; (R1) 1.1260; More….

Outlook in EUR/CHF remains unchanged as consolidation from 1.1119 is in progress. In case of stronger rise, upside should be below 1.1278 resistance to bring fall resumption. On the downside, below 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) 0.9751; (P) 0.9774; (R1) 0.9810; More….

EUR/CHF is losing downside momentum again. But further decline is still expected as long as 0.9948 resistance holds. Current down trend should target 0.9650 long term projection level. On the upside, however, considering bullish convergence condition in 4 hour MACD, break of 0.9948 should confirm short term bottoming. Intraday bias will be back to the upside for further rebound.

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.

EUR/CHF’s down trend continued to 0.9804 last week but turned sideway since then. As a temporary low was formed, initial bias is neutral this week for some consolidations. Upside of recovery should be limited by 1.0044 resistance. 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.

In the long term picture, capped below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until some sustained trading above the 55 month EMA (now at 1.0808).

Daily Pivots: (S1) 0.9868; (P) 0.9896; (R1) 0.9917; More….

EUR/CHF’s consolidation from 0.9953 is still in progress and intraday bias stays neutral. 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 1.0053) taken out. That would be an initial sign of long term bullish reversal.

Daily Pivots: (S1) 1.1341; (P) 1.1369; (R1) 1.1416; More…

EUR/CHF retreats mildly after hitting 4 hour 55 EMA. But for now, rebound from 1.1242 short term bottom is still expected to continue for 1.1489 support turned resistance. Firm break there will add some credence in near term reversal ahead of key support zone between 1.1154/98. Nonetheless, break of 1.1242 will extend the larger corrective fall from 1.2004. But in that case, we’d expect strong support between 1.1154/98 to contain downside and bring reversal.

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 1.1198 (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.

EUR/CHF gyrated inside range of 1.1310/1444 last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 1.1310 support holds, further rise is mildly in favor. On the upside, break of 1.1444 will resume the rebound from 1.1181 to 1.1501 key resistance next. Nevertheless, sustained break of 1.1310 will suggest that rebound from 1.1181 might be completed. Intraday bias will be turned back to the downside for 1.1181 low again.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1154/98 support zone to complete it and bring rebound. Decisive break of 1.1501 (38.2% retracement of 1.2004 to 1.1173 at 1.1490) will confirm completion of the correction, on bullish convergence condition in daily MACD. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

In the long term picture, as long as key support zone of 1.1198 (2016 high) and 61.8% retracement of 1.0629 to 1.2004 at 1.1154 holds, A break of 1.2 key resistance is still expected in the medium to 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) 1.1297; (P) 1.1317; (R1) 1.1334; More…

Intraday bias in EUR/CHF remains neutral first, with focus on 1.1340/8 resistance zone. We’re slightly favoring the case the choppy decline from 1.1501 has completed at 1.1181 already. On the upside, break of 1.1348 will confirm this bullish case and turn bias to the upside for retesting 1.1501 next. On the downside, in case of another fall, we’d expect strong support from 1.1154/98 support zone to contain downside to bring rebound.

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) 0.9795; (P) 0.9827; (R1) 0.9855; More….

Intraday bias in EUR/CHF remains neutral for the moment. On the upside, firm break of 0.9953 resistance will resume larger rally from 0.9407 to 1.0072 fibonacci level. However, break of 0.9779 will likely resume the fall from 0.9953 through 0.9720.

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. Down trend resumption through 0.9407 is mildly 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) 1.0460; (P) 1.0473; (R1) 1.0498; More….

EUR/CHF is losing some downside momentum as seen in 4 hour MACD. But further fall is still expected for now. Current down trend from 1.1149 should now target 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. On the upside, break of 1.0596 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 (2018 high) should be resuming with break of 1.0505 (2020 low). 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 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.