Daily Pivots: (S1) 1.1602; (P) 1.1642; (R1) 1.1694; More…

EUR/CHF’s fall from 1.1721 was held well above 1.1541 support and quickly recovered. Intraday bias is turned neutral first. 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. Nonetheless, on the upside, break of 1.1721 resistance will resume recent up trend towards 1.2 key level.

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 1.1158) and possibly below.

Daily Pivots: (S1) 1.0839; (P) 1.0861; (R1) 1.0876; More…

No change in EUR/CHF’s outlook. Further decline is expected to 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645. Though, break of 1.0922 resistance will indicate short term bottoming and bring stronger rebound to 1.1062 resistance.

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) 1.0173; (P) 1.0249; (R1) 1.0290; More….

Intraday bias in EUR/CHF remains neutral as range trading continues. 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.

Daily Pivots: (S1) 0.9914; (P) 0.9946; (R1) 0.9966; More…

A temporary top was formed at 0.9976 in EUR/CHF with current retreat. Intraday bias is turned neutral first. Outlook is unchanged that corrective decline from 1.0095 should have completed at 0.9704. Further rally is in favor as long as 0.9856 minor support holds. Above 0.9976 will target 1.0004 and then 1.0095. However, firm break of 0.9856 will dampen this bullish view and turn bias back to the downside for 0.9704 support instead.

In the bigger picture, prior 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. 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).

EUR/CHF engaged in range trading below 1.1736 last week and outlook is unchanged Initial bias stays neutral this week first. Again, we believe that the cross is close to topping, if not formed. This is under persistent bearish divergence condition in 4 hour MACD, and rising wedge like structure since 1.1709. On the downside, decisive break of 1.1597 support will a strong sign of trend reversal and should turn outlook bearish for 38.2% retracement of 1.0629 to 1.1736 at 1.1313.

In the bigger picture, while a medium term top could be around the corner, there is no change in the larger outlook. That is, long term rise from SNB spike low back in 2015 is still in progress and would extend. As long as 1.1198 resistance turned support holds, we’ll hold on to this bullish view and expect another to prior SNB imposed floor at 1.2000. Though, we’ll reassess the outlook if 1.1198 is firmly taken out.

Daily Pivots: (S1) 0.9764; (P) 0.9798; (R1) 0.9831; More….

EUR/CHF is staying in consolidation from 0.9953 and intraday bias remains neutral 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, 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) 1.0921; (P) 1.0949; (R1) 1.0999; More…

EUR/CHF’s rebound from 1.0832 resumes as consolidation from 1.0811 extends. Further rise could be seen but still, upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065). On the downside, sustained break of 1.0811 will resume larger down trend and target 1.0629 key support next.

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) 1.1656; (P) 1.1679; (R1) 1.1699; More…

Intraday bias in EUR/CHF remains neutral at this point. Near term outlook is unchanged. As noted before, persistent bearish divergence condition in 4 hour MACD and rising wedge like structure suggests that the cross is near to forming a top, if not formed. Hence, even in case of another rise, we’d expect limited upside potential. On the downside, sustained break of 1.1584 support will be a strong sign of trend reversal and should turn outlook bearish for 38.2% retracement of 1.0629 to 1.1736 at 1.1313.

In the bigger picture, while a medium term top could be around the corner, there is no change in the larger outlook. That is, long term rise from SNB spike low back in 2015 is still in progress and would extend. As long as 1.1195 resistance turned support holds, we’ll hold on to this bullish view and expect another to prior SNB imposed floor at 1.2000. Though, we’ll reassess the outlook if 1.1195 is firmly taken out.

Daily Pivots: (S1) 0.9655; (P) 0.9671; (R1) 0.9682; More…

Intraday bias in EUR/CHF remains neutral for consolidation below 0.9691. Further rally will stay in favor as long as 0.9617 support holds. Above 0.9691 will resume the rise from 0.9513 to 38.2% retracement of 1.0095 to 0.9513 at 0.9735. However, firm break of 0.9617 will turn bias back to the downside for retesting 0.9513 low.

In the bigger picture, medium term outlook will stay bearish as long as the cross is capped well below falling 55 W EMA (now at 0.9799). That is, down trend from 1.2004 (2018 high) could still resume through 0.9407 (2022 low). However, sustained trading above the 55 W EMA will raise the chance that 0.9470 is already a long term bottom. Further rise would then be seen to 1.0095 resistance to indicate bullish trend reversal.

Daily Pivots: (S1) 1.0730; (P) 1.0757; (R1) 1.0771; More….

Intraday bias in EUR/CHF stays on the downside for the moment. Fall from 1.0871 is seen as another falling leg in the consolidation pattern from 1.0915. Deeper decline could be seen back to 1.0661 support. On the upside, above 1.0799 minor resistance will turn intraday bias neutral first.

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) 0.9726; (P) 0.9740; (R1) 0.9753; More…

Outlook in EUR/CHF is unchanged as choppy decline form 0.9995 could extend lower. But strong support should be seen from 0.9704 to bring rebound. Break of 0.9847 will argue that the fall has completed and turn bias back to the downside. However, firm break of 0.9704 will resume the whole decline from 1.0095 to 61.8% retracement of 0.9407 to 1.0095 at 0.9670.

In the bigger picture, prior rejection by 38.2% retracement of 1.1149 to 0.9407 at 1.0072 suggests that medium term outlook is staying bearish. The pair is also capped below 55 W EMA (now at 0.9963). 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) 0.9722; (P) 0.9778; (R1) 0.9843; More…

Intraday bias in EUR/CHF is turned neutral first as it recovered after hitting 0.9711. Upside of recovery should be limited by 0.9844 support turned resistance to bring another decline. As noted before, rebound 0.9407 could have completed at 1.0095 already. Below 0.9711 will target 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Sustained break there will bring deeper fall to retest 0.9407 low. Overall, risk will stay on the downside as long as 55 day EMA (now at 0.9906) 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.

Daily Pivots: (S1) 1.0732; (P) 1.0757; (R1) 1.0771; More….

Intraday bias in EUR/CHF remains on the downside at this point. Sustained trading below 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) will extend the fall from 1.1149 to retest 1.0505 low. On the upside, break of 1.0802 support turned resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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 1.1149 resistance holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 1.0639; (P) 1.0672; (R1) 1.0714; More…

Intraday bias in EUR/CHF remains neutral for the moment as consolidation from 1.0584 is in progress. With 1.0737 resistance intact, outlook remains bearish and further decline is expected. Break of 1.0584 will extend recent down trend to 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. However, firm break of 1.0737 will indicate short term bottoming and bring stronger rebound.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. While initial support might be seen from 1.0629 on first attempt, outlook will stay bearish as long as 1.1059 resistance holds. Decisive break of 1.0629 will pave the way to parity next.

Daily Pivots: (S1) 1.1614; (P) 1.1675; (R1) 1.1725; More…

EUR/CHF’s break of 1.1683 support is taken as an early sign of trend reversal. Intraday bias is back to the downside for 1.1602 support first. Sustained break there should confirm our view and bring deeper correction to 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372. On the upside, above 1.1736 minor resistance will turn focus back to 1.1832 high instead.

In the bigger picture, while a medium term top could be around the corner, there is no change in the larger outlook. That is, long term rise from SNB spike low back in 2015 is still in progress and would extend. As long as 1.1198 resistance turned support holds, we’ll hold on to this bullish view and expect further rise to prior SNB imposed floor at 1.2000 and above. Though, we’ll reassess the outlook if 1.1198 is firmly taken out.

Daily Pivots: (S1) 1.0775; (P) 1.0800; (R1) 1.0816; More….

Break of 1.0787 support suggests resumption of fall from 1.0890. Intraday bias is back on the downside for 1.0737 support. Break there will extend the sideway pattern from 1.0915 with another falling leg, towards 1.0661 support. For now, deeper decline will remain in favor as long as 1.0866 resistance holds, in case of recovery.

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) 1.1365; (P) 1.1387; (R1) 1.1418; More…

Intraday bias in EUR/CHF is neutral for consolidation above 1.1343. Another fall is expected as long as 1.1429 minor resistance holds. Corrective corrective rise from 1.1173 could have completed at 1.1501 already. Below 1.1343 will target 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.

EUR/CHF rose to as high as 1.0449 last week. The break of 1.0400 resistance confirmed resumption of rise from 0.9970. Initial bias stays on the upside for 100% projection of 0.9970 to 1.0086 from 1.0400 at 1.0516 next. On the downside, below 1.0331 minor support will turn intraday bias neutral and bring consolidations first. But further rally will remain mildly in favor as long as 1.0186 support holds.

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.

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 1.0876).

Daily Pivots: (S1) 1.0363; (P) 1.0381; (R1) 1.0393; More….

Intraday in EUR/CHF remains neutral and outlook is unchanged. Recovery from 1.0298 might still extend higher, but upside should be limited well below 1.0510 resistance to bring another fall. Break of 1.0298 will resume the down trend from 1.1149 and target 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.