Daily Pivots: (S1) 1.1541; (P) 1.1564; (R1) 1.1602; More….

Intraday bias in EUR/CHF remains neutral first. Near term outlook is unchanged that the corrective pattern from 1.2004 is expected to extend with at least one more decline. One the downside, break of 1.1505 minor support will turn bias to the downside for retesting 1.1366 low first. Above 1.1656 will extend the rebound to 61.8% retracement of 1.2004 to 1.1366 at 1.1760. But, we’ll look for reversal signal above 1.1760.

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) 1.0945; (P) 1.0957; (R1) 1.0964; More….

With 1.0912 minor support intact, rebound could be seen in EUR/CHF. But overall, outlook stays bearish as long as 1.1026 resistance holds. On the downside, break of 1.0912 minor support will bring retest of 1.0863 low. Break there will resume whole fall from 1.1149. On the upside, break of 1.1026 will be the first sign of near term bullish reversal.

In the bigger picture, current development argues that rebound from 1.0505 might be completed at 1.1149 already. Rejection by 55 month EMA (now at 1.1077) at least keeps medium term bearishness open. Sustained break of 1.0737 support will argue that the down trend from 2004 (2018 high) is ready to resume through 1.0505 low. Sustained trading below 55 week EMA (now at 1.0879) will affirm this bearish case. Nevertheless, strong support from 55 week EMA will revive the case for resuming the rise from 1.0505 at a later stage.

Daily Pivots: (S1) 0.9786; (P) 0.9799; (R1) 0.9819; More…

EUR/CHF continues to lose downside momentum as seen in 4H MACD. But still deeper decline is expected with 0.9846 resistance holds. The cross is extending the correction from 1.0095, and further 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) 1.0897; (P) 1.0920; (R1) 1.0936; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.0986 is still in progress. Deeper fall could be seen but downside is expected to be contained by 1.0791/0872 support zone to bring rise resumption. As noted before, the consolidative pattern from 1.1198 should be completed. Firm break of 1.0999 resistance will pave the way for a retest on 1.1198 high.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Current strong rebound is raising the chance that it’s 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) 0.9440; (P) 0.9456; (R1) 0.9475; More…

Intraday bias in EUR/CHF stays on the upside for the moment. Rebound from 0.9252 is seen as correcting whole down trend from 1.0095. Further rally should be seen to 38.2% retracement of 1.0095 to 0.9252 at 0.9574. On the downside, below 0.9404 minor support will turn intraday bias neutral first.

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. Another decline is in favor after rebound from 0.9252 completes. However, firm break of 0.9683, and sustained trading above 55 W EMA (now at 0.9659) will argue that EUR/CHF is already in a medium term rally, even as a corrective move.

EUR/CHF’s recovery last week suggests that pull back from 0.9953 has completed at 0.9720, after drawing support from 38.2% retracement of 0.9407 to 0.9953 0.9744. Initial bias is mildly on the upside this week for retesting 0.9953. Firm break there will resume the 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.

In the long term picture, capped well below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until firm break of 1.0505 support turned resistance (2020 low). In case of resumption, next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033.

Daily Pivots: (S1) 1.1283; (P) 1.1307; (R1) 1.1324; More…

Intraday bias in EUR/CHF remains on the downside for the moment. Corrective fall from 1.1476 is in progress towards 1.1162 low. We’d expect strong support above there to bring rebound. On the upside, break of 1.1350 will suggest that the pull back has completed. Intraday bias will be turned back to the upside for 38.2% retracement of 1.2004 to 1.1162 at 1.1484 again.

In the bigger picture, at this point, we’re slightly favoring the case that corrective fall from 1.2004 has completed 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) 1.0755; (P) 1.0770; (R1) 1.0787; More…

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. With 1.0721 support intact, further rise remains in favor. On the upside, break of 1.0877 will resume the rebound from 1.0602 and target 1.0915 high. On the downside, break of 1.0721 will argue that the rebound from 1.0602 has completed and turn bias back to the downside for retesting 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.

Daily Pivots: (S1) 1.1280; (P) 1.1309; (R1) 1.1360; More…

Intraday bias in EUR/CHF remains neutral at this point. We continue to favor the case that choppy decline from 1.1501 has completed at 1.1181 already. On the upside, decisive 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) 1.0925; (P) 1.0949; (R1) 1.0969; More…

A temporary top is in place at 1.0977 in EUR/CHF and intraday bias is turned neutral for the moment. Some consolidations could be seen but downside of retreat should be contained by 1.0791/0872 support zone to bring rise resumption. As noted before, the consolidative pattern from 1.1198 should be completed. Firm break of 1.0999 resistance will pave the way for a retest on 1.1198 high.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Current strong rebound is raising the chance that it’s 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.

EUR/CHF surged to as high as 1.1072 last week and the development confirmed resumption of whole rally from 1.0629. Initial bias remains on the upside this week for key resistance at 1.1127/98. On the downside, break of 1.0983 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.0693; (P) 1.0709; (R1) 1.0731; More…

EUR/CHF is staying in range above 1.0668 and intraday bias remains neutral. With 1.0734 minor resistance intact, deeper decline is in favor. Below 1.0668 will target 1.0620/29 key support zone. Decisive break there will resume the larger fall from 1.1198. Nonetheless, break of 1.0734 will turn bias back to the upside for 1.0823 resistance instead.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Current development suggests that it’s not completed yet. sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. In any case, break of 1.0823 resistance is needed to be the first indication of reversal. Otherwise, deeper fall is still expected even in case of recovery.

Daily Pivots: (S1) 1.1188; (P) 1.1217; (R1) 1.1235; More…

EUR/CHF’s decline resumed after brief consolidation and intraday bias is back on the downside. Decisive break of 1.1173 low (inside 1.1154/98 key support zone) will carry larger bearish implication and could trigger downside acceleration. On the upside, though, break of 1.1256 minor resistance will turn bias back to the upside for recovery to 1.1310 support turned resistance.

In the bigger picture, with last week’s sharp decline, price actions from 1.1173 are now looking more like a consolidation that’s completed at 1.1444. Bearishness is also reflected in multiple rejection by 55 week EMA. Immediate focus is back 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. 1.0629 support will be next target.

Daily Pivots: (S1) 1.0936; (P) 1.0958; (R1) 1.0974; More…

Intraday bias in EUR/CHF remains neutral at this point and overall outlook is unchanged. Consolidation from 1.0811 might extend further. In case of another rise, 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. On the downside, below 1.0921 will turn bias to the downside for retesting 1.0811 low.

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) 1.0860; (P) 1.0891; (R1) 1.0941; More…

EUR/CHF recovered after dipping to 1.0841 but recovered quickly since then. Intraday bias remains neutral for the moment. On the upside, break of 1.0958 minor resistance will suggest short term bottoming and bring stronger rebound to 1.1062 resistance. Though, break of 1.0841 will extend recent down trend to 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) 0.9595; (P) 0.9612; (R1) 0.9620; More…

Range trading continues in EUR/CHF and intraday bias stays neutral at this point. Further decline is in favor as long as 0.9670 holds. On the downside, break of 0.9520 will resume the whole fall from 1.0095 towards 0.9407 low. Nevertheless, sustained break of 0.9670 will be the first sign of bullish reversal and target 0.9840 resistance for confirmation.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9860). 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) 0.9750; (P) 0.9775; (R1) 0.9808; More….

Intraday bias in EUR/CHF remains mildly on the upside for 0.9864 key 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 intraday bias neutral first.

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.

Daily Pivots: (S1) 1.0640; (P) 1.0656; (R1) 1.0670; More….

EUR/CHF’s fall is still in progress and intraday bias stays on the downside. Current down trend from 1.1149 should target 100% projection of 1.1149 to 1.0694 from 1.0936 at 1.0481. On the upside, break of 1.0764 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, the rejection by 55 week EMA maintains medium term bearishness. Fall from 1.1149 (2021 high) is currently seen as the second leg of the patter from 1.0505 (2020 low) first. Hence, in case of deeper fall, we’d look for strong support from 1.0505 to bring rebound. However, sustained break of 1.0505 will resume the long term down trend from 1.2004 (2018 high). Also, medium term outlook will now be neutral at best as long as 1.0936 resistance holds.

Daily Pivots: (S1) 0.9894; (P) 0.9911; (R1) 0.9939; More….

Intraday bias in EUR/CHF is now on the upside this week as recent rally continues. Current rise from 0.9252 should target 100% projection of 0.9304 to 0.9847 from 0.9563 at 1.0106, which is slightly above 1.0095 key structural resistance. On the downside, below 0.9880 minor support will turn intraday bias neutral and bring consolidations first.

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.

Sideway consolidation continued in EUR/CHF last week and outlook is unchanged. Initial bias stays neutral this week first. 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, prior 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.

In the long term picture, capped well below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until firm break of 1.0505 support turned resistance (2020 low). In case of resumption, next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033.