Daily Pivots: (S1) 1.0983; (P) 1.1009; (R1) 1.1027; More…

EUR/USD is still staying in range of 1.0974/1059 and intraday bias remains neutral. Outlook is also unchanged. We’d continue to expect strong resistance from 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to limit upside to complete the consolidation pattern from 1.0811. On the downside, break of 1.0974 minor support will turn bias to the downside for retesting 1.0811 low. However, sustained break of 1.1062/5 will carry larger bullish implication and bring stronger rise to 1.1162 key resistance level.

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) 0.9681; (P) 0.9703; (R1) 0.9729; More…

Outlook in EUR/CHF is staying unchanged. The corrective pattern from 1.0095 could be contained by 61.8% retracement of 0.9407 to 1.0095 at 0.9670. On the upside, break of 0.9760 resistance should confirm short term bottoming and turn bias back to the upside for stronger rebound. However, sustained break of 0.9670 will pave the way back to 0.9407 low.

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) 1.0760; (P) 1.0777; (R1) 1.0786; More….

EUR/CHF is staying in range of 1.0737.0787 and intraday bias remains neutral. On the upside, break of 1.0787 support turned resistance will argue that corrective pull back from 1.0890 has completed. Intraday bias will be turned back to the upside for retesting 1.0890. On the downside, firm break of 1.0737 support will confirm the start of another falling leg inside the pattern from 1.0915. Deeper decline would be seen to 1.0658 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) 1.1718; (P) 1.1746; (R1) 1.1764; More…

Intraday bias in EUR/CHF remains neutral for the moment. Medium term rise could extend higher. However, considering relatively weak upside momentum as seen in daily MACD we’d still expect strong resistance below 1.2 handle to limit upside and bring medium term reversal. Break of 1.1683 support will be a early sign of reversal and turn focus to 1.1602 support.

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.

EUR/CHF jumped to as high as 1.1709 last week but dropped sharply since then. Initial bias is neutral this week first. As long as 1.1483 minor support holds, we’d expect further rally ahead. Break of 1.1709 will target 1.2 key level. However, break of 1.1483 will be an early sign of reversal. In that case, deeper decline should be seen back to 1.1355 support.

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 1.1067) and possibly below.

Daily Pivots: (S1) 1.1541; (P) 1.1595; (R1) 1.1630; More…

Intraday bias in EUR/CHF remains neutral for the moment. Pull back from 1.1709 might extend lower. But still, as long as 1.1483 minor support holds, we’d expect further rally ahead. Break of 1.1709 will target 1.2 key level. However, break of 1.1483 will be an early sign of reversal. In that case, deeper decline should be seen back to 1.1355 support.

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 1.1067) and possibly below.

Daily Pivots: (S1) 1.1701; (P) 1.1740; (R1) 1.1759; More…

EUR/CHF weakens today but stays above 1.1670 minor support. Intraday bias remains neutral first. We’re holding on to the view that it’s close to topping, if not formed. And even in case of another rise, strong resistance should be seen well below 1.2 handle to bring medium term reversal. On the downside, below 1.1670 minor support will turn bias to the downside for 1.1602 support first. Further break of 1.1602 will indicate reversal and turn outlook bearish for 1.1387 and below.

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) 1.0846; (P) 1.0867; (R1) 1.0898; More…

Intraday bias in EUR/CHF remains neutral at this point. Consolidation pattern from 1.0811 is still extending. And another recovery cannot be ruled out. But in that case, 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) 1.0370; (P) 1.0392; (R1) 1.0414; More….

EUR/CHF is staying in consolidation from 1.0365 and intraday bias remains neutral. Further decline is expected as long as 1.0511 resistance holds. On the downside, break of 1.0365 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.

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 1.0694 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) 0.9572; (P) 0.9586; (R1) 0.9601; More…

Intraday bias in EUR/CHF stays neutral as it’s still bounded in range trading. As long as 0.9600 resistance holds, downside breakout is in favor. Firm break of 0.9513 will resume larger fall from 1.0095 to 0.9407 low. Nevertheless, on the upside, sustained break of 0.9066 resistance will indicate that strong rebound is underway, and turn bias back to the upside for 0.9840 resistance.

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) 1.0743; (P) 1.0782; (R1) 1.0804; More…

Intraday bias in EUR/CHF remains on the downside at this point. Current down trend should target 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648 next. On the upside, break of 1.0833 resistance is needed to indicate short term bottoming. Otherwise, outlook remains bearish in case of recovery.

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 1.1059 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.1029; (P) 1.1041; (R1) 1.1065; More….

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1149 could extend further. Deeper decline might be seen but downside should be contained by 1.0954 to bring rebound, and then rally resumption. On the upside, break of 1.1116 will argue that larger rise from 1.0504 is ready to resume through 1.1149 high.

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) 1.1260; (P) 1.1279; (R1) 1.1301; More…

EUR/CHF’s rebound from 1.1224 short term bottom resumes today by breaking 1.1301 minor resistance. Intraday bias is turned back to the upside for 1.1356 resistance first. Decisive break there should confirm near term reversal. In that case, further rally should be seen back to 1.1501 resistance. On the downside, below 1.1267 minor support will dampen this bullish case and turn focus back to 1.1224 low instead.

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) 0.9618; (P) 0.9639; (R1) 0.9661; More….

No change in EUR/CHF’s outlook and intraday stays on the downside. Deeper fall would be seen to 0.9563 support. Decisive break there will argue that whole rise from 0.9252 has completed, and bring deeper fall to 61.8% retracement of 0.9252 to 0.9928 at 0.9510. On the upside, above 0.9673 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 0.9563 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 0.9563 will suggest that the rally has completed and retain medium term bearishness.

Daily Pivots: (S1) 1.1313; (P) 1.1333; (R1) 1.1348; More…

EUR/CHF dropped notably but it’s staying above 1.1310 support. Intraday bias remains neutral and further rise remains mildly in favor. On the upside, firm break of 1.1444 resistance 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) 1.1279; (P) 1.1309; (R1) 1.1364; More…

EUR/CHF rises to as high as 1.1379 so far today and intraday bias remains on the upside for 1.1452 resistance. Firm break there should confirm near term reversal. That is, whole correction from 1.2004 has completed at 1.1178 after hitting 1.1154/98 key support zone. In that case, further rise should be seen to 1.1713 resistance next. On the downside, below 1.1317 minor support will dampen this bullish view and turn intraday bias neutral again first.

In the bigger picture, for now, the 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 1.1207) 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) 1.0778; (P) 1.0805; (R1) 1.0820; More….

Intraday bias in EUR/CHF is mildly on the downside at this point. Deeper fall could be seen to 1.0735 support. Break there will extend the sideway pattern from 1.0915 with another falling leg, towards 1.0661 support. On the upside, though, break of 1.8920 resistance will target 1.0915 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) 1.0651; (P) 1.0677; (R1) 1.0694; More….

EUR/CHF breached 1.0656 briefly but quickly recovered, intraday bias remains neutral first. On the upside, break of 1.0764 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish. On the downside, firm break of 1.0656 will resume larger fall from 1.1149 to 100% projection of 1.1149 to 1.0694 from 1.0936 at 1.0481.

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) 0.9746; (P) 0.9774; (R1) 0.9788; More…

No change in EUR/CHF’s outlook and intraday bias remains neutral first. Fall from 0.9995 is a correction to rise from 0.9704 only. Break of 0.9878 resistance will indicate that such correction has completed and target 0.9995. Firm break there should confirm that larger corrective decline from 1.0095 has completed at 0.9704 too.

In the bigger picture, prior rejection by 55 W EMA (now at 0.9971) 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) 1.0920; (P) 1.0949; (R1) 1.0965; More….

Deeper fall could be seen in EUR/CHF through 1.0925. But as long as 1.0915 cluster support (38.2% retracement 1.0505 to 1.1149 at 1.0903) holds, we’d still treat the price actions from 1.1149 as correction. Break of 1.1026 resistance would argue that larger up trend is resuming. However, sustained break of 1.0903/15 will suggest bearish reversal, or at least bring deeper fall to next cluster support zone at 1.0737 support zone (61.8% retracement at 1.0751).

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.