Daily Pivots: (S1) 1.0919; (P) 1.0932; (R1) 1.0953; More…

Intraday bias in EUR/CHF is turned neutral with a temporary low formed at 1.0910. Overall outlook is unchanged. Consolidation from 1.0811 might extend further. Above 1.0982 minor resistance will bring another rise. But 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 eventually. On the downside, below 1.0910 will target 1.0811/63 support zone.

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.

Daily Pivots: (S1) 1.1619; (P) 1.1637; (R1) 1.1654; More…

Intraday bias in EUR/CHF remains mildly on the downside at this point. The corrective rebound from 1.1366 could have completed with three waves up to 1.1713 already. Deeper fall should be seen to 1.1478 support first. Break there should resume the whole decline from 1.2004 through 1.1366 low. On the upside, above 1.1668 will bring another rise. But in the case, we’d continue to expect strong resistance from 61.8% retracement of 1.2004 to 1.1366 at 1.1760 to bring near term reversal.

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) 0.9975; (P) 1.0009; (R1) 1.0039; More….

Intraday bias in EUR/CHF remains neutral for consolidation above 0.9943 temporary low. On the downside, sustained trading below 0.9970 will resume larger down trend for 0.9650 long term projection level. For now, outlook will stay bearish as long as 1.0155 resistance holds, in case of stronger recovery.

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.

Daily Pivots: (S1) 1.0955; (P) 1.0969; (R1) 1.0986; More….

Intraday bias in EUR/CHF remains neutral for the moment. On the upside, break of 1.1073 resistance will argue that consolidation form 1.1149 has completed. And, larger rise from 1.0503 is ready to resume through 1.1149. However, firm break of 1.0915 resistance turned support will suggest bearish reversal and turn bias to the downside.

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) 0.9774; (P) 0.9799; (R1) 0.9844; More….

Intraday bias in EUR/CHF stays neutral for the moment. On the downside, break of 0.9720 will extend the fall from 0.9953 to 61.8% retracement at 0.9616, and possibly below. On the upside, however, break of 0.9839 resistance will turn bias back to the upside for retesting 0.9953 instead.

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. That is, down trend resumption through 0.9407 is 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) 0.9786; (P) 0.9799; (R1) 0.9819; More…

No change in EUR/CHF’s outlook as fall from 0.9995 is expected with 0.9846 resistance intact. The fall is seen as part of the whole correction from 1.0095. Deeper fall would be seen to 0.9704 and below. On the upside, however, break of 0.9846 resistance will indicate short term bottoming, and turn 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) 1.0676; (P) 1.0693; (R1) 1.0717; More…

EUR/CHF’s rally resumed by taking out 1.0725 and hits as high as 1.0763 so far. Intraday bias is back on the upside for 1.0811 support turned resistance next. On the downside, break of 1.0661 support is needed to indicate short term topping. Otherwise, outlook will remain cautiously bullish in case of retreat.

In the bigger picture, the down trend from 1.2004 (2018 high) remains intact despite the current rebound. As long as 1.0811 support turned resistance holds, outlook stays bearish for another decline through 1.0503 low. 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.

EUR/CHF reached as low as 1.1296 last week as fall from 1.1501 extended. We’re still seeing such decline as a corrective move and expect strong support from 61.8% retracement of 1.1173 to 1.1501 at 1.1298 to contain downside and bring rebound. On the upside, break of 1.1356 minor resistance will turn bias back to the upside for 1.1433 resistance first. However, sustained break of 1.1298 will turn focus back to 1.1173 low.

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 1.1240) 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) 1.0737; (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) 1.1238; (P) 1.1266; (R1) 1.1287; More…

EUR/CHF’s fall from 1.1476 is still in progress and could extend 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) 1.1082; (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.

Daily Pivots: (S1) 1.0747; (P) 1.0760; (R1) 1.0778; More…

No change in EUR/CHF’s outlook as range trading continues. Intraday bias remains neutral and further rise is in favor with 1.0712 support intact. On the upside, break of 1.0838 will target 1.0915 resistance next. However, break of 1.0712 will suggest that rebound from 1.0602 has completed and turn bias back to the downside for this support.

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) 0.9750; (P) 0.9817; (R1) 0.9853; More….

Intraday bias in EUR/CHF remains on the downside at this point. Firm break of 0.9728 support will carry larger bearish implications and target 38.2% retracement of 0.9252 to 0.9928 at 0.9670. On the upside, above 0.9816 minor resistance will turn intraday bias neutral first. But risk will stay mildly on the downside as long as 0.9928 resistance holds, in case of recovery.

In the bigger picture, as long as 0.9728 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. However, firm break of 0.9728 will raise the chance of bearish reversal and turn focus to 0.9563 support for confirmation.

Daily Pivots: (S1) 1.0357; (P) 1.0374; (R1) 1.0399; More….

EUR/CHF recovered after dipping to 1.0324 and intraday bias is turned neural first. Outlook stays bearish as long as 1.0432 resistance holds. Break of 1.0324 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, however, break of 1.0432 minor resistance will indicate short term bottoming, and turn bias back to the upside for 1.0465 resistance and 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 1.0505 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) 1.0284; (P) 1.0317; (R1) 1.0348; More….

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. Corrective rebound from 0.9970 should have completed with three waves up to 1.0513, after rejection by 1.0505 key resistance. Below 1.0228 will target 1.0086 support. Firm break there will bring retest of 0.9970 low. However, break of 1.0359 will dampen this bearish view and bring stronger recovery back towards 1.0513 resistance.

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.

Daily Pivots: (S1) 1.0819; (P) 1.0867; (R1) 1.0910; More…

Intraday bias in EUR/CHF remains on the upside for the moment. Current rise from 1.0503 should target 1.1059/76 cluster resistance zone next. On the downside, break of 1.0744 support is needed to indicate short term topping. Otherwise, outlook will now remain bullish in case of retreat.

In the bigger picture, the strong break of 1.0811 key support turned resistance suggests that whole down trend from 1.2004 (2018 high) has completed at 1.0503. Rise from 1.0503 could either be correcting the down trend from 1.2004. Or it could be starting a new up trend. Focus is now on 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076). Decisive break there will pave the way to 61.8% retracement at 1.1431 and above. Though, rejection by 1.1059/76 will revive medium term bearishness.

Daily Pivots: (S1) 1.0987; (P) 1.1043; (R1) 1.1071; More….

EUR/CHF surged to as high as 1.1096, but failed to sustain above 1.1059/76 long term cluster resistance. Intraday bias is turned neutral first. Some consolidations could be seen but further rally is in favor as long as 1.0915 resistance turned support holds. Sustained break of 1.1059/76 will carry larger bullish implication. Next target will be 100% projection of 1.0503 to 1.0915 from 1.0737 at 1.1149. However, firm break of 1.0915 will indicate rejection by the cluster resistance and turn outlook bearish again.

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) 0.9509; (P) 0.9555; (R1) 0.9580; More…

EUR/CHF fell notably but stays in range above 0.9513. Intraday bias remains neutral for the moment. Outlook stays bearish with 0.9600 resistance intact. On the downside, decisive break of 0.9513 will resume the decline from 1.0095, towards 0.9407 low. However, break of 0.9600 resistance will turn bias back to the upside for stronger rebound to 0.9646 resistance and above.

In the bigger picture, medium term outlook is staying bearish as the cross is capped well below falling 55 W EMA (now at 0.9818). 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 0.9670 support turned resistance holds, in case of strong rebound.

Daily Pivots: (S1) 0.9682; (P) 0.9710; (R1) 0.9728; More….

Intraday bias in EUR/CHF remains neutral at this point. On the upside, above 0.9798 will resume the rebound to 0.9864 resistance. Firm break there will solidify the case of medium term bottoming at 0.9407, and target 38.2% retracement of 1.1149 to 0.9407 at 1.0072. On the downside, below 0.9641 minor support will turn bias back to the downside for retesting 0.9407 low instead.

In the bigger picture, as long as 0.9864 resistance holds, long term down trend from 1.2004 (2008 high) is expected to continue. Next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033. However, firm break of 0.9864 will confirm medium term bottoming, on bullish convergence condition in daily MACD. Stronger rally would then be seen back to 55 week EMA (now at 1.0188), even as a corrective rebound.

EUR/CHF’s break of 0.9832 support argues that rebound form 0.9407 has completed at 1.0095 already, on bearish divergence condition in daily MACD. Initial bias is now on the downside this week for deeper fall to 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Sustained break there will bring deeper fall to retest 0.9407 low. On the upside, above 0.9860 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 55 day EMA (now at 0.9910) holds.

In the bigger picture, rejection by 55 week EMA (now at 1.0011) 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. For now, this will be the favored case as long as 1.0095 resistance holds.

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