EURCHF Outlook

EUR/CHF's down trend resumed last week and dived to 0.9092, but recovered from there. Initial bias stays neutral this week first, and more sideway trading could be seen. Outlook will remain bearish as long as 0.9180 resistance holds. Firm break of 0.9092 will target 261.8% projection of 0.9394 to 0.9268 from 0.9347 at 0.9143. However, considering bullish convergence condition in 4H MACD, firm break of 0.9180 will indicate short term bottoming, and bring stronger rebound towards 55 D EMA (now at 0.9241).

In the bigger picture, down trend from 0.9928 (2024 high) is still in progress with falling 55 W EMA (now at 0.9333) intact. Next target is 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of recovery.

In the long term picture, EUR/CHF is also holding well inside long term falling trend channel. Down trend from 1.2004 (2018 high) is still in progress. Outlook will continue to stay bearish as long as falling 55 M EMA (now at 0.9739) holds.

Daily Pivots: (S1) 0.9109; (P) 0.9138; (R1) 0.9163; More....

Intraday bias stays neutral in EUR/CHF for consolidations above 0.9092. Further decline is expected as long as 0.9180 resistance holds. Below 0.9092 will resume larger down trend to 261.8% projection of 0.9394 to 0.9268 from 0.9347 at 0.9017 next. However, considering bullish convergence condition in 4H MACD, firm break of 0.9180 will indicate short term bottoming, and bring stronger rebound towards 55 D EMA (now at 0.9242).

In the bigger picture, down trend from 0.9928 (2024 high) is still in progress with falling 55 W EMA (now at 0.9334) intact. Next target is 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of recovery.

Daily Pivots: (S1) 0.9129; (P) 0.9150; (R1) 0.9181; More....

Intraday bias in EUR/CHF is turned neutral first with current recovery. Further decline is expected as long as 0.9180 resistance holds. Below 0.9092 will resume larger down trend to 261.8% projection of 0.9394 to 0.9268 from 0.9347 at 0.9017 next. However, considering bullish convergence condition in 4H MACD, firm break of 0.9180 will indicate short term bottoming, and bring stronger rebound towards 55 D EMA (now at 0.9246).

In the bigger picture, down trend from 0.9928 (2024 high) is still in progress with falling 55 W EMA (now at 0.9334) intact. Next target is 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of recovery.