EUR/CHF’s down trend resumption last week and dropped to as low as 1.0906. Initial bias remains on the downside this week. Current fall from 1.1476 is part of the whole decline from 1.2004. Next target is 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645. On the upside, break of 1.1062 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 1.1028; (P) 1.1056; (R1) 1.1082; More….

Outlook in EUR/CHF remains unchanged as corrective pattern from 1.1149 is still extending. Intraday bias remains neutral for the moment. Deeper fall cannot be ruled out. But 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.

Daily Pivots: (S1) 1.1012; (P) 1.1065; (R1) 1.1097; More….

EUR/CHF’s correction from 1.1149 is extending lower today. Intraday bias remains neutral first. While deeper retreat cannot be ruled out, further rally is expected as long as 1.0954 support holds. On the upside, break of 1.1149 will pave the way 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.

Daily Pivots: (S1) 1.0714; (P) 1.0741; (R1) 1.0756; More…

Intraday bias in EUR/CHF remains neutral as consolidation from 1.0797 is still extending. Corrective pull back from 1.0915 should have completed at 1.0602 and further rise is expected as long as 1.0701 minor support holds. on the upside, 1.0797 will target 1.0915 resistance first. Break there will resume the whole rise from 1.0503 and target 100% projection of 1.0503 to 1.0915 from 1.0602 at 1.1014 next. On the downside, though, break of 1.0701 minor support will dampen the bullish case and turn bias back to the downside 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.

Daily Pivots: (S1) 1.0781; (P) 1.0803; (R1) 1.0824; More…

Intraday bias in EUR/CHF is turned neutral with a temporary top is formed at 1.0824. We’re favoring the case that consolidation pattern from 1.0915 has completed with three waves to 1.0661. Break of 1.0824 will target 1.0877 resistance for confirmation. Firm break there will resume whole rebound from 1.0503. However, below 1.0772 minor support will dampen the bullish case, and turn bias back to the downside for 1.0661 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) 1.1326; (P) 1.1341; (R1) 1.1353; More…

Intraday bias in EUR/CHF remains neutral at this point. As long as 1.1310 support holds, further rise is mildly in favor. On the upside, break of 1.1444 will resume the rebound from 1.1181 to 1.1501 key resistance next. Nevertheless, sustained break of 1.1310 will suggest that rebound from 1.1181 might be completed. 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, on bullish convergence condition in daily MACD. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

EUR/CHF rebounded strongly last week after hitting 100% projection of 1.0936 to 1.0298 from 1.0610 at 0.9972. But upside is limited by 1.0298 support turned resistance. Initial bias remains neutral this week and further decline remains in favor. On the downside, below 1.0131 minor support will bring retest of 0.9970 low first. On the upside, however, sustained break of 1.0298 will bring stronger rebound towards 1.0610 structural resistance 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. Firm break there will target 100% projection at 0.9650. In any case, break of 1.0505 support turned resistance 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 1.0909).

Daily Pivots: (S1) 1.1417; (P) 1.1442; (R1) 1.1457; More…

No change in EUR/CHF’s outlook. With 1.1511 minor resistance intact, deeper fall is expected for 1.1355 support first. Break will target 1.1257 cluster support (38.2% retracement of 1.0652 to 1.1622 at 1.1251). Strong support is expected there to contain downside and bring rebound. Meanwhile, break of 1.1511 minor resistance will suggest that the pull back is completed and bring retest of 1.1622.

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 1.1198 resistance turned support holds.

EUR/CHF’s break of 1.0715 support last week suggests resumption of whole decline from 1.1149. While downside momentum is a bit week, initial bias stays on the downside this week first. next target is 61.8% projection of 1.0985 to 1.0715 from 1.0839 at 1.0672 first. Break will target 100% projection at 1.0569 next. On the upside, above 1.0756 minor resistance will bring recovery. But outlook will remain bearish as long as 1.0839 resistance holds.

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 1.0863) holds. Break of 1.0505 low would be seen at a later stage.

In the long term picture, rejection by 55 month EMA (now at 1.1056) retains long term bearishness. Break of 1.0505 low will resume down trend to 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223.

Daily Pivots: (S1) 1.1279; (P) 1.1309; (R1) 1.1364; More…

EUR/CHF’s break of 1.1342 resistance suggests that rebound from 1.1178 has resumed. Also, it affirms the case of bullish reversal after hitting 1.1154/98 key support zone. Intraday bias is back on the upside for 1.1452 resistance for confirmation. On the downside, in case of another fall, we’d continue to expect strong support from 11.1154/98 to bring rebound.

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.

EUR/CHF gyrated lower last week as rebound from 1.1366 could have completed at 1.1656 already. Downside momentum has been a bit convincing. Nonetheless, deeper fall is expected this week as long as 1.1585 minor resistance holds, for 1.1366 low. Break there will resume the corrective fall from 1.2004. On the upside, though, above 1.1585 will likely extend the rebound from 1.1366 through 1.1656. But in that case, upside should be limited by 61.8% retracement of 1.2004 to 1.1366 at 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) 1.0918; (P) 1.0946; (R1) 1.0959; More….

EUR/CHF’s decline was a bit deeper than expected, but it has recovered back above 1.0954 support quickly. Intraday bias remains neutral first and larger rise from 1.0503 is still in favor to resume. Break of 1.1073 resistance will target a test on 1.1149 high first.

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.

Daily Pivots: (S1) 0.9546; (P) 0.9570; (R1) 0.9616; More…

Intraday bias in EUR/CHF remains neutral for consolidations above 0.9520. While stronger recovery could be seen, outlook will remain bearish as long as 0.9670 support turned resistance holds. Break of 0.9520 will resume the 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 0.9876). 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) 1.0730; (P) 1.0761; (R1) 1.0777; More…

Range trading continues in EUR/CHF and intraday bias remains neutral first. . 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.

Daily Pivots: (S1) 0.9719; (P) 0.9739; (R1) 0.9777; More….

Intraday bias in EUR/CHF remains on the upside at this point. Rise from 0.9476 is in progress and should target 0.9928 high next. On the downside, however, break of 0.9677 will turn bias to the downside for deeper pullback.

In the bigger picture, rebound from 0.9252 medium term bottom might not be completed yet. But even in case of resumption, strong resistance could emerge from 1.0095 to limit upside. Medium term outlook will be neutral at best as long as 1.0094 structural resistance holds. Meanwhile, break of 0.9476 will bring retest of 0.9252 low.

EUR/CHF’s fall last week suggests that corrective rebound from 1.0324 has completed at 1.0510 already. Initial bias remains on the downside this week for 1.0324 first. Firm break there 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. On the upside, above 1.0401 minor resistance will extend the corrective pattern with another rise leg. But upside should be limited by 38.2% retracement of 1.0936 to 1.0324 at 1.0558.

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.

In the long term picture, prior rejection by 55 month EMA (now at 1.0967) maintains long term bearishness. Down trend from 1.2004 is now in progress for 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. Firm break there will target 100% projection at 0.9650.

Daily Pivots: (S1) 1.1316; (P) 1.1330; (R1) 1.1343; More…

Intraday bias in EUR/CHF remains neutral at this point. On the upside, firm break of 1.1348 resistance should confirm that choppy decline from 1.1501 has completed at 1.1181 already. In that case, further rally would be seen towards 1.1501 resistance. On the downside, break of 1.1298 minor support will turn bias to the downside for deeper fall. But 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) 1.0959; (P) 1.0982; (R1) 1.0994; More…

Intraday bias in EUR/CHF remains on the downside as recent decline continues. Firm break of 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 will pave the way to 100% projection at 1.0645 next. On the upside, above 1.1005 minor resistance will turn intraday bias neutral and bring consolidation. But outlook will stay bearish as long as 1.1154 resistance holds, in case of recovery.

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) 1.1073; (P) 1.1086; (R1) 1.1098; More….

EUR/CHF is still bounded in consolidation from 1.1149 and intraday bias remains neutral. 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) 1.1500; (P) 1.1526; (R1) 1.1541; More….

Intraday bias in EUR/CHF remains neutral for the moment. Overall, price actions from 1.1622 are developing into corrective pattern. In case of another rise, upside will be limited by 1.1622 to bring another fall to extend the pattern. On the downside below 1.1497 minor support will likely start the third leg through 1.1387 support. But in that case, strong support in expect at 1.1257 cluster support (38.2% retracement of 1.0652 to 1.1622 at 1.1251) to contain downside and bring rebound.

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 1.1198 resistance turned support holds.