Daily Pivots: (S1) 1.0359; (P) 1.0387; (R1) 1.0411; More….

Intraday bias in EUR/CHF remains neutral as consolidation from 1.0298 is still extending. Upside should be limited well below 1.0510 resistance. On the downside, break of 1.0298 will extend the down trend from 1.1149 to 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) 1.1463; (P) 1.1481; (R1) 1.1516; More… .

EUR/CHF surges to as high as 1.1562 so far today. The break of 1.1537 resistance indicates resumption of medium term rise. Intraday bias is back to the upside for 61.8% projection of 1.0830 to 1.1537 from 1.1355 at 1.1792 next. However, considering weak upside momentum so far, break of 1.1438 will turn focus back to 1.1355 support instead.

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 1.1087 resistance turned support holds.

Daily Pivots: (S1) 1.0730; (P) 1.0759; (R1) 1.0778; More…

EUR/CHF is staying in consolidation from 1.0838 with no clear sign of breakout yet. Intraday bias remains neutral and with 1.0712 support intact, further rise is expected. On the upside, above 1.0838 will target 1.0915 resistance first. Break there will resume whole rally from 1.0503. On the downside, break of 1.0712 support will dampen our 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.

EUR/CHF edged lower to 1.0863 last week but formed a short term bottom there and recovered. Initial bias remains mildly on the upside this week for stronger recovery. But outlook will remain bearish as long as 1.1026 resistance holds. On the downside, below 1.0912 minor support will bring retest of 1.0863 first. Break will resume whole fall from 1.1149.

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) 1.1819; (P) 1.1883; (R1) 1.1917; More…

EUR/CHF drops sharply to as low as 1.1777 so far today and breaks 38.2% retracement of 1.1445 to 1.2004 at 1.1790. Based on current momentum, deeper decline would likely be seen. Intraday bias stays on the downside for 61.8% retracement at 1.1659 and below. On the upside, break of 1.1864 support turned 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, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily MACD, 1.2004 could be a medium term top. And price action from 1.2004 is corrective the up trend from 1.0629. Hence, for now, deeper fall could be seen back to 1.1445, which is close to 38.2% retracement of 1.0629 to 1.2004 at 1.1479. We’d expect strong support from there to bring rebound to extend the medium term corrective pattern.

Daily Pivots: (S1) 1.1085; (P) 1.1099; (R1) 1.1125; More….

Intraday bias in EUR/CHF remains neutral first as consolidation form 1.1149 is extending. Downside should be contained by 1.0954 support to bring rise resumption. On the upside, break of 1.1149 will resume the whole rise from 1.0503 to 161.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.1404.

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 edged higher to 1.0838 last week but quickly lost momentum and retreated. Near term outlook is unchanged though. Initial bias remains neutral this week and further rise is in favor. 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.

Range trading continued in EUR/CHF last week and outlook is unchanged. Initial bias remains neutral this week. 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 0.9859). 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.

In the long term picture, outlook remains bearish as it’s staying well below 55 M EMA (now at 1.0422). Break of 1.00095 resistance is needed to be the first sign of bottoming, or the multi-decade down trend is expected to continue.

Daily Pivots: (S1) 1.1713; (P) 1.1743; (R1) 1.1798; More…

EUR/CHF surges to as high as 1.1772 so far today. Break of 1.1748 confirms resumption of the rise from 1.1445. Intraday bias is back on the upside for retest 1.1832 resistance. At this point, we’re remain cautious on strong resistance from there to bring another fall to extend recent corrective pattern. Though, firm break will confirm resumption of larger up trend. On the downside, break of 1.1649 support will turn focus back to 1.1445 instead.

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) 1.0912; (P) 1.0940; (R1) 1.0955; More…

Intraday bias in EUR/CHF remains neutral and consolidation from 1.0811 could 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 1.0910 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) 1.0581; (P) 1.0607; (R1) 1.0629; More…

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. Rebound from 1.0504 is extended to extend higher. Break of 1.0662 will target 1.0710 cluster resistance (38.2% retracement of 1.1059 to 1.0503 at 1.0715). However, break of 1.0578 minor support will bring retest of 1.0503 low instead.

In the bigger picture, as long as 1.0811 support turned resistance holds, we’d still expect larger down trend from 1.2004 (2018 high) to extend lower to parity. 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.

Daily Pivots: (S1) 1.0874; (P) 1.0887; (R1) 1.0909; More….

Intraday bias in EUR/CHF remains mildly on the upside with 1.0843 minor support intact. Current rise from 1.0694 would target 1.0985 resistance next. On the downside, below 1.0843 minor support will turn bias neutral and bring consolidations again first.

In the bigger picture, rebound from 1.0505 (2020 low) should have completed at 1.1149 already. The three-wave corrective structure argues that the downtrend from 1.2004 (2018 high) is not over yet. Medium term outlook will now stay bearish as long as 55 week EMA (now at 1.0859) holds. Break of 1.0505 low would be seen at a later stage. However, sustained trading above 55 week EMA will bring retest of 1.1149 high instead.

Daily Pivots: (S1) 1.0816; (P) 1.0825; (R1) 1.0843; More….

Intraday bias in EUR/CHF remains mildly on the upside at this point. Rise form 1.0737 should target 1.0890/0915 resistance zone next. Decisive break there will resume whole rebound from 1.0503. On the downside, though, break of 1.0794 minor support will turn bias to the downside for 1.0737 support instead.

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.

EUR/CHF edged higher to 1.0985 last week, but was rejected by medium term channel resistance and reversed from there. Rebound from 1.0863 might have completed already. Initial bias is now on the downside this week for 1.0863 support first. Break there will resume whole decline from 1.1149 to 1.0737 cluster support zone. For now, risk will be on the downside as long as 1.0985 holds.

In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed at 1.1149 already. Rejection by 55 month EMA (now at 1.1074) at least keeps medium term bearishness open. Sustained break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) 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 1.0885) 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) 1.0352; (P) 1.0415; (R1) 1.0449; More….

EUR/CHF’s steep decline and strong break of 1.0216 support suggests that corrective rebound from 0.9970 has completed already, after second rejection by 1.0505 support turned resistance. Intraday bias is back on the downside for 1.0086 support first. Break will target a test on 0.9970 low. For now, risk will stay on the downside as long as 1.0512 resistance holds, in case of 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) 1.1593; (P) 1.1612; (R1) 1.1629; More…

With 1.1653 minor resistance intact, further decline is expected in EUR/CHF for 1.1478 support. We’re holding on to the view that corrective rebound from 1.1366 has completed with three waves up to 1.1713 already. Break of 1.1478 will resume the whole decline from 1.2004 through 1.1366 low. On the upside, above 1.1653 minor resistance will bring another rise. But in that case, we’d 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.

EUR/CHF recovered to 0.9601 last week but reversed from there. Initial bias stays neutral this week and larger down trend is still in favor to continue. Break of 0.9513 support will confirm this bearish case and target 0.9407 low. Nevertheless, break of 0.9601 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 pair is capped well below falling 55 W EMA (now at 0.9839). 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.

In the long term picture, outlook remains bearish as it’s staying well below 55 M EMA (now at 1.0421). Break of 1.00095 resistance is needed to be the first sign of bottoming, or the multi-decade down trend is expected to continue.

Daily Pivots: (S1) 1.1459; (P) 1.1510; (R1) 1.1537; More…

Intraday bias in EUR/CHF remains neutral as the consolidation from 1.1445 is still in progress. Outlook stays mildly bearish with 1.1639 resistance intact and deeper decline is expected. 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) 0.9464; (P) 0.9485; (R1) 0.9501; More…

Intraday bias in EUR/CHF remains neutral and more consolidations could be seen below 0.9510. Downside of retreat should be contained by 0.9413 minor support to bring another rally. On the upside, break of 0.9510 will resume the rebound from 0.9252 and target 0.9574 fibonacci level and above.

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) 0.9743; (P) 0.9779; (R1) 0.9808; More…

Intraday bias in EUR/CHF stays on the downside at this point. Corrective rebound from 0.9670 could have completed at 0.9840 already. Deeper fall would be seen to retest 0.9670 low. Sustained break there will resume the whole fall from 1.0095. Nevertheless, break of 0.9840 will resume the rebound to 0.9878 resistance.

In the bigger picture, medium term outlook is staying bearish as the pair is capped below falling 55 W EMA (now at 0.9918). Down trend form 1.2004 (2018 high) is in favor to extend through 0.9407 at a later stage. Nevertheless, decisive break of 38.2% retracement of 1.1149 to 0.9407 will raise the chance of bullish trend reversal.