Daily Pivots: (S1) 1.1004; (P) 1.1017; (R1) 1.1041; More…

EUR/CHF is staying in tight range below 1.1059 and intraday bias remains neutral first. Price actions form 1.0811 are viewed 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). On the downside, break of 1.0964 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.

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) 1.1391; (P) 1.1407; (R1) 1.1428; More…

EUR/CHF’s break of 1.1429 resistance suggests resumption of rally from 1.1181. Intraday bias is turned back to the upside for retesting 1.1501 key resistance. On the downside, break of 1.1372 support is now needed to indicate completion of the rebound. Otherwise, near term outlook will stay cautiously bullish in case of retreat.

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, with double bottom pattern (1.1173, 1.1181) Further rise should be seen to 61.8% retracement at 1.1687 and above next.

Daily Pivots: (S1) 1.0628; (P) 1.0643; (R1) 1.0655; More…

Breach of 1.0635 in EUR/CHF indicates decline resumption. Intraday bias is back on the downside for 1.0620 key support level next. Decisive break of 1.0620 will confirm resumption of whole fall from 1.1198. In that case, next downside target will be 1.0485 fibonacci level. On the upside, break of 1.0706 minor resistance will raise the chance of medium term reversal and turn focus back to 1.0749 and then 1.0897 key resistance.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. On the upside, break of 1.0897 resistance is needed to confirm completion of such fall. Otherwise, outlook will stay bearish.

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Daily Pivots: (S1) 1.0990; (P) 1.1023; (R1) 1.1048; More…

EUR/CHF’s sharp decline indicates temporary topping at 1.1059. Intraday bias is turned neutral for consolidations. Downside of retreat should be contained above 1.0936 support to bring another rally. Above 1.1059 will target 1.1127 resistance next.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.0999 resistance should target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0830 support holds.

There was no special development in EUR/CHF last week as it stayed in range of 1.0721/0877. Initial bias remains neutral this week for some more consolidations first. Still, with 1.0721 support intact, further rise is expected. On the upside, break of 1.0877 resistance will extend the rebound from 1.0602 for retesting 1.0915 high. On the downside, however, firm break of 1.0721 will argue that the rebound from 1.0602 has completed. Intraday bias will be turned back to the downside for this 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.

EUR/CHF’s sharp decline and break of 1.0677 support last week indicates resumption of recent decline. Initial bias stays on the downside this week for next key support level at 1.0620 first. Decisive break there will confirm resumption of whole fall from 1.1198. On the upside, break of 1.0749 resistance is needed to indicate near term reversal. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress and retest of 38.2% retracement of 0.9771 to 1.1198 at 1.0653 would be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. On the upside, break of 1.0897 resistance is needed to confirm completion of such fall. Otherwise, outlook will stay bearish.

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Daily Pivots: (S1) 1.1033; (P) 1.1044; (R1) 1.1060; More…..

EUR/CHF is staying in consolidation above 1.0962 and intraday bias remains neutral for the moment. Stronger rise cannot be ruled out. But upside should be limited limited by 1.1172 resistance to bring down trend resumption. On the downside, sustained break of 1.0962 will extend the fall from 1.2004 to 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645 next.

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) 0.9669; (P) 0.9693; (R1) 0.9710; More…

At this point, strong support is still expected around 61.8% retracement of 0.9407 to 1.0095 at 0.9670 to complete the whole corrective pattern from 1.0095. On the upside, firm break of 0.9760 resistance will confirm short term bottoming, and turn bias back to the upside for 0.9878 resistance next. However, sustained break of 0.9670 will pave the way back to 0.9407 low instead.

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 0.9945). Down trend from 1.2004 (2018 high) 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’s down trend from 1.1149 resumed last week and reached as low as 1.0740. Initial bias remains on the downside this week. Sustained trading below 1.0737/0751 support zone will pave the way 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.

In the long term picture, rejection by 55 month EMA (now at 1.1068) 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) 1.0467; (P) 1.0481; (R1) 1.0503; More….

EUR/CHF’s down trend resumes by breaking 1.0446 and intraday bias is back on the downside. Current fall from 1.1149 should target 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. On the upside, however, break of 1.0511 minor resistance will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, down trend from 1.2004 (2018 high) should be resuming with break of 1.0505 (2020 low). 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 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 1.1432; (P) 1.1465; (R1) 1.1520; More… .

EUR/CHF strengthens to 1.1511 so far today but stays below 1.1537 resistance. Intraday bias remains neutral first and more consolidation could be seen. But in case of another fall, downside should be contained by 38.2% retracement of 1.0830 to 1.1537 at 1.1267 to bring rebound. On the upside, break of 1.1537 resistance will confirm resumption of larger rally from 1.0629. In that case, EUR/CHF should target 1.2 key resistance level next.

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 1.1087 resistance turned support holds.

Daily Pivots: (S1) 1.0769; (P) 1.0784; (R1) 1.0798; More….

EUR/CHF edged higher to 1.0798 but failed to sustain above 4 hour 55 EMA so far. Intraday bias remains neutral first. On the downside, break of 1.0890 will target 1.0658 support, to extend the consolidation pattern from 1.0915. On the upside, break of 1.0798 minor resistance will argue that the fall from 1.0890 has completed. Intraday bias will be turned back to the upside for 1.0866 resistance.

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) 1.1068; (P) 1.1084; (R1) 1.1113; More….

Intraday bias in EUR/CHF stays neutral first with focus on 1.1096 resistance. Decisive break there will extend the whole rebound from 1.0503 to 100% projection of 1.0503 to 1.0915 from 1.0737 at 1.1149. In any case, outlook will stay bullish as long as 1.0915 resistance turned support holds.

In the bigger picture, immediate focus is now on 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076). Sustained break there will argue that whole down trend from 1.2004 (2018 high) has completed at 1.0503. Rise from there is starting an up trend. Further rise should be seen to 61.8% retracement at 1.1431 and above. Though, rejection by 1.1059/76 will remain medium term bearishness first.

Daily Pivots: (S1) 1.0921; (P) 1.0951; (R1) 1.0982; More…

EUR/CHF is staying in consolidation from 1.0811 and intraday bias remains neutral. Further rise cannot be ruled out. But 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) 1.1662; (P) 1.1691; (R1) 1.1706; More…

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. We maintained the view that EUR/CHF is close to topping, if not formed. This is supported by persistent bearish divergence condition in 4 hour MACD, and rising wedge like structure. On the downside, break of 1.1597 support will 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 1.1198 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) 1.1372; (P) 1.1408; (R1) 1.1434; More…

Intraday bias in EUR/CHF remains on the downside for 1.1343 support. Firm break there will extend the decline from 1.1501. In that case, further fall would be seen back to 1.1154/98 key support zone again. On the upside, break of 1.1470 will turn focus back to 1.1501. Decisive break of 1.1501 will revive the case of bullish reversal.

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.

Daily Pivots: (S1) 1.1403; (P) 1.1430; (R1) 1.1465; More…

Intraday bias in EUR/CHF remains neutral as it’s staying in consolidation from 1.1537. On the upside, break of 1.1537 resistance will confirm resumption of larger rally from 1.0629. In that case, EUR/CHF should target 1.2 key resistance level next. On the downside, firm break of 38.2% retracement of 1.0830 to 1.1537 at 1.1267 will extend the correction to 61.8% retracement at 1.1100 before completion.

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 1.1087 resistance turned support holds.

Daily Pivots: (S1) 1.0510; (P) 1.0521; (R1) 1.0528; More…

EUR/CHF is still bounded in consolidation from 1.0503. Intraday bias remains neutral first. In case of another rise, upside should be limited by 1.0653 resistance to bring down trend resumption. On the downside, firm break of 1.0503 will target 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress for parity next. In any case, outlook will remain bearish as long as 1.0653 resistance holds. However, considering bullish convergence condition in daily MACD, firm break of 1.0653 resistance will indicate medium term bottoming. Stronger rebound would then be seen back to 1.0811/1059 resistance zone.

Daily Pivots: (S1) 1.0875; (P) 1.0895; (R1) 1.0928; More…

EUR/CHF is staying in consolidation from 1.0832 and intraday bias remains neutral at this point. On the upside above 1.0928 will extend the recovery but upside should be limited by 38.2% retracement of 1.1476 to 1.0832 at 1.1078. On the downside, break of 1.0832 will resume larger down trend from 1.2004.

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) 0.9568; (P) 0.9595; (R1) 0.9634; More…

EUR/CHF’s rally from 0.9252 is in progress and intraday bias stays on the upside for 161.8% projection of 0.9252 to 0.9471 from 0.9304 at 0.9658 next. On the downside, below 0.9553 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.