Daily Pivots: (S1) 1.0690; (P) 1.0718; (R1) 1.0733; More…

With 1.0683 minor support intact, further rise is expected in EUR/CHF. As noted before, a short term bottom is likely in place at 1.0629 on bullish convergence condition in 4 hour MACD. Current development raised the chance of larger trend reversal after defending 1.0620 key support level. Decisive break of 1.0749 should affirm this bullish case and target 1.0897. On the downside, though, below 1.0683 minor support will turn bias back to the downside for 1.0629 instead.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. There is no confirmation of completion yet. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. However, strong rebound from 1.0620 and break of 1.0897 resistance will indicate trend reversal and turn outlook bullish.

Daily Pivots: (S1) 1.0929; (P) 1.0964; (R1) 1.1034; More….

EUR/CHF rises to as high as 1.1051 so far today, and broke 61.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.0992 already. There is no sign of topping so far. Intraday bias stays on the upside for 1.1059/76 long term cluster resistance next. Decisive break there will carry larger bullish implications. On the downside, below 1.0947 minor support will turn intraday bias neutral and bring some consolidations 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) 1.1339; (P) 1.1355; (R1) 1.1370; More…

EUR/CHF is staying in range of 1.1310/1444 and intraday bias remains neutral. Further rise is in favor as long as 1.1310 support holds. On the upside, break of 1.1444 will resume the rebound from 1.1181 and target 1.1501 key resistance next. On the downside, firm break of 1.1310 will indicate completion of the rebound. In that case, 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. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

Daily Pivots: (S1) 1.0674; (P) 1.0690; (R1) 1.0703; More…

Intraday bias is neutral in EUR/CHF remains neutral as it’s staying in range above 1.0668 temporary low. The bearish outlook remains unchanged. That is, rebound from 1.0629 has completed at 1.0823. And the larger decline from 1.1198 is likely still in progress. On the downside, below 1.0668 will target 1.0620/29 key support zone. Decisive break there will resume whole fall from 1.1198 and target next long term fibonacci level at 1.0485. Nonetheless, break of 1.0734 will suggest that pull back from 1.0823 is completed and turn bias back to the upside for this resistance.

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) 1.1037; (P) 1.1105; (R1) 1.1152; More…

EUR/CHF recovers after hitting 1.1056. But with 1.1145 minor resistance intact, intraday bias stays on the downside for further decline. Current down trend should target 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 next. On the upside, above 1.1145 minor resistance will turn intraday bias neutral for consolidation first. But recovery should be limited below 1.1264 resistance to bring further decline.

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) 0.9814; (P) 0.9835; (R1) 0.9851; More…

Intraday bias in EUR/CHF stays neutral and outlook is unchanged. Risk will stay on the upside as long as as long as 0.9774 short term bottom holds. Current development suggests that whole correction from 1.0095 has completed at 0.9704. Break of 0.9878, and sustained trading above 55 D EMA (now at 0.9873) will affirm this bullish case, and target 0.9995 resistance next.

In the bigger picture, prior rejection by 55 W EMA (now at 0.9972) 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) 0.9827; (P) 0.9857; (R1) 0.9893; More….

Intraday bias in EUR/CHF stays neutral as consolidation pattern from 0.9953 is still extending. 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) 0.9591; (P) 0.9619; (R1) 0.9650; More…

Intraday bias in EUR/CHF is back on the downside with break of 0.9601 support. Larger decline from 1.0095 is in progress for 100% projection of 0.9995 to 0.9670 from 0.9840 at 0.9515. On the upside, however, break of 0.9684 will indicate short term bottoming, and bring stronger rebound.

In the bigger picture, medium term outlook is staying bearish as the pair is capped well below falling 55 W EMA (now at 0.9889). Down trend from 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.

Daily Pivots: (S1) 1.0081; (P) 1.0249; (R1) 1.0367; More….

Intraday bias in EUR/CHF stays on the downside for 1.0086 support first. Corrective rebound from 0.9970 should have completed already, after second rejection by 1.0505 support turned resistance. Break of 1.0086 will bring retest of 0.9970 low. On the upside, above 1.0232 minor resistance will turn intraday bias neutral first. But 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.

EUR/CHF’s rebound from 1.0086 extended higher last week. The development suggests that pull back from 1.0400 has completed, and rise from 0.9970 is ready to resume. But as a temporary top was formed at 1.0369, initial bias is neutral this week first. On the upside, firm break of 1.0400 will target 100% projection of 0.9970 to 1.0400 from 1.0086 at 1.0516. On the downside, break of 1.0246 minor support will dampen this bullish view and turn bias back to the downside for 1.0086 support instead.

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 (2020 low) 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) 1.1614; (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) 1.0932; (P) 1.0955; (R1) 1.0986; More…

Overall outlook in EUR/CHF remains unchanged. Price actions from 1.0811 are seen as a consolidation pattern. 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) 1.1053; (P) 1.1074; (R1) 1.1093; More….

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1149 is extending. Another fall cannot be ruled out, but downside should be contained by 1.0954 support to bring rally resumption. On the upside, firm break of 1.1149 will resume the rise from 1.0504 and target 161.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.1404.

In the bigger picture, whole down trend from 1.2004 (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.

Daily Pivots: (S1) 0.9729; (P) 0.9745; (R1) 0.9763; More…

EUR/CHF continues to lose downside momentum as seen in 4H MACD, but there is no sign of bottoming yet. But while deeper fall cannot be ruled out, strong support should be seen from 0.9704 to bring rebound. Break of 0.9847 will argue that choppy fall from 0.9995 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) 0.9556; (P) 0.9584; (R1) 0.9601; More…

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

Daily Pivots: (S1) 1.0364; (P) 1.0379; (R1) 1.0389; More….

Breach of 1.0365 suggests resumption of down trend from 1.1149. Intraday bias in EUR/CHF is back on the downside for 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) 1.0801; (P) 1.0818; (R1) 1.0830; More….

Intraday bias in EUR/CHF is turned neutral as it lost momentum after hitting 1.0844. Another rise is still in favor with 1.0794 minor support intact. Above 1.0844 will 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.

Daily Pivots: (S1) 0.9591; (P) 0.9611; (R1) 0.9634; More…

Intraday bias in EUR/CHF stays on the upside despite diminishing upside momentum. Rise from 0.9252 is in progress for 161.8% projection of 0.9252 to 0.9471 from 0.9304 at 0.9658 next. On the downside, below 0.9582 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

In the bigger picture, as long as 0.9683 resistance holds, rebound from 0.9252 are seen as a corrective move only. Larger down trend is expected to resume through 0.9252 after the correction completes. However, firm break of 0.9683 and sustained trading above 55 W EMA (now at 0.9622) will argue that 0.9252 is already a medium term bottom. Stronger rise would then be seen 61.8% retracement of 1.0095 to 0.9252 at 0.9773 and above.

Daily Pivots: (S1) 1.0678; (P) 1.0691; (R1) 1.0703; More…

Intraday bias in EUR/CHF remains on the downside at this point. Fall from 1.0877 is seen as the third leg of the corrective pattern from 1.0915. Deeper decline should be seen to 1.0602 support next. On the upside, break of 1.0747 resistance is needed to sign short term bottoming. Otherwise, outlook will remain bearish 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) 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.