Daily Pivots: (S1) 1.0920; (P) 1.0933; (R1) 1.0944; More….

Intraday bias in EUR/CHF remains on the downside at this point, and outlook is unchanged. Rebound from 1.0863 could have completed at 1.0985, after rejection by medium term channel resistance. Deeper fall would be seen to 1.0863 support first. Break there will resume whole decline from 1.1149 to 1.0737 cluster support zone. On the upside, above 1.0944 minor resistance will turn bias back to the upside for 1.0985 resistance instead.

In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed at 1.1149 already. Rejection by 55 month EMA (now at 1.1074) at least keeps medium term bearishness open. Sustained break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) will argue that the down trend from 2004 (2018 high) is ready to resume through 1.0505 low. Sustained trading below 55 week EMA (now at 1.0885) will affirm this bearish case. Nevertheless, strong support from 55 week EMA will revive the case for resuming the rise from 1.0505 at a later stage.

Daily Pivots: (S1) 1.0662; (P) 1.0686; (R1) 1.0701; More…

EUR/CHF surges sharply to as high as 1.0815 and the development argues that whole rise from 1.0629 is resuming. Intraday bias is back on the upside for 1.0823 resistance first. Decisive break there will carry larger bullish implications and will target 1.0897 resistance next. On the downside, break of 1.0718 support is needed to indicate short term reversal. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Current strong rebound is raising the chance that it’s completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.0823 resistance will affirm this bullish case. Further break of 1.0999 will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0652 support holds.

Daily Pivots: (S1) 0.9736; (P) 0.9755; (R1) 0.9779; More…

Further rally is still expected in EUR/CHF. Sustained trading above 55 D EMA (now at 0.9778) will add to case that whole correction from 1.0095 has completed, after hitting 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Further rise should then be seen to 0.9878 resistance next. For now, risk will stay on the upside as long as 0.9670 support holds.

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 0.9929). Down trend from 1.2004 (2018 high) is not complete 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) 1.0690; (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.

EUR/CHF continued to engage in sideway trading last week. The corrective price actions and it’s stay below falling 55 days EMA affirmed near term bearishness. Break of 1.0677 will extend recent decline to 1.0620 key support level. On the upside, above 1.0762 will turn focus back to 1.0897 resistance. But decisive break there is needed to confirm trend reversal. Otherwise, outlook will stay bearish for another fall later.

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 could be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. Meanwhile, break of 1.0897 resistance will argue that the larger up trend is finally resuming for above 1.1198.

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Daily Pivots: (S1) 0.9833; (P) 0.9852; (R1) 0.9873; More…

EUR/CHF’s strong break of 0.9837 support argues that rebound from 0.9407 has completed. More importantly, corrective pattern from 1.0067 high is extending with another falling leg. Intraday bias is back on the downside for 0.9074, and possibly below. On the upside, though, break of 0.9889 minor resistance will turn intraday bias back to the upside for stronger rebound.

In the bigger picture, prior rejection by 55 week EMA (now at 1.1002) 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) 1.1941; (P) 1.1969; (R1) 1.1983; More…

EUR/CHF is still bounded in consolidation pattern from 1.2004 temporary top. Intraday bias remains neutral at this point. On the upside, decisive break of 1.2 will pave the way to 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. However, considering bearish divergence condition in 4 hour MACD, break of 1.1888 will indicate short term topping. In that case, deeper pull back would be seen back to 1.1445/1832 support zone.

In the bigger picture, long term up trend in EUR/CHF is still in progress. Prior SNB imposed floor at 1.2003 was already met but there is no sign of reversal yet. As long as 1.1445 support holds, we’d expect the up trend to extend to 2013 high at 1.2649 next.

Daily Pivots: (S1) 1.0985; (P) 1.1002; (R1) 1.1019; More…

No change in EUR/CHF’s outlook as corrective rise from 1.0811 might extend. But upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to bring fall resumption. On the downside, below 1.0912 minor support will turn intraday bias back to the downside first. Further break of 1.0811 will resume larger down trend from 1.2004.

In the bigger picture, down trend from 1.2004 is (2018 high) 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) 1.1140; (P) 1.1176; (R1) 1.1197; More…

Intraday bias in EUR?CHF remains on the downside for 1.1119 support. Firm break there will resume recent down trend and target 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 next. On the upside, in case of another recovery, upside should be limited by 1.1264 resistance to bring fall resumption eventually.

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.

EUR/CHF is still bounded inside consolidation pattern from 0.9953 last week. Overall outlook remains unchanged. Initial bias stays neutral this week first. 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, as long as 38.2% retracement of 1.1149 to 0.9407 at 1.0072 holds, price actions from 0.9407 medium term bottom will be treated as a corrective pattern. That is, long term down trend would resume through this low at a later stage. Nevertheless, firm break of 1.0072 will also have 55 week EMA (now at 1.0041) taken out. That would be an initial sign of long term bullish reversal.

In the long term picture, capped well below 55 month EMA, EUR/CHF is seen as extending the multi-decade down trend. There is no prospect of a bullish reversal until firm break of 1.0505 support turned resistance (2020 low). In case of resumption, next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033.

Daily Pivots: (S1) 1.1066; (P) 1.1088; (R1) 1.1107; More…

EUR/CHF is staying in range above 1.1056 and intraday bias remains neutral at this point. More sideway consolidation could be seen. In case of another recovery, upside should be limited below 1.1264 resistance to bring fall resumption. On the downside, break of 1.1056 will extend the larger down trend for 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 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) 1.1359; (P) 1.1390; (R1) 1.1422; More…

Outlook in EUR/CHF is unchanged and intraday bias remains neutral first. On the upside, decisive break of 1.1452 resistance should confirm bullish reversal, after drawing strong support from 1.1154/98 zone. In that case, outlook will be turned bullish for 1.1713 resistance next. However, break of 1.1280 will argue that choppy recovery from 1.1178 has completed and bring retest of 1.1154/98 support zone again.

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 1.1234) 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) 1.1202; (P) 1.1227; (R1) 1.1242; More….

EUR/CHF’s fall from 1.1476 resumes by breaking 1.1195 and intraday bias is back on the downside. For now, we’d still expect strong support above 1.1162 to bring rebound. Break of 1.1278 resistance will indicate near term reversal and turn bias back to the upside. However, sustained break of 1.1162 could carry larger bearish implication and turn outlook bearish.

In the bigger picture, at this point, we’re slightly favoring the case that corrective fall from 1.2004 has completed at 1.1162 after being supported by 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Decisive break of 1.1501 resistance should confirm and target 1.1713 resistance next. On the downside, sustained break of 1.1154 will confirm resumption of decline from 1.2004 and target 1.0629 support next.

Daily Pivots: (S1) 1.1221; (P) 1.1239; (R1) 1.1267; More…

Despite yesterday’s recovery, EUR/CHF fails to sustain above 1.1256 minor resistance so far, intraday bias remains neutral first. As long as 1.1256 minor resistance holds, near term outlook remains bearish and further decline is expected. On the downside, decisive break of 1.1154 key fibonacci level will confirm resumption of whole downtrend from 1.2004. That should then pave the way to 61.8% projection of 1.2004 to 1.1173 from 1.1444 at 1.0930. However, break of 1.1256 will indicate short term bottoming and turn bias back to the upside for 1.1310 support turned resistance first.

In the bigger picture, multiple rejection by 55 week EMA indicates medium term bearishness. Focus remains on 1.1154/98 support zone (2016 high and 61.8% retracement of 1.0629 to 1.2004 at 1.1154). Decisive break there will confirm resumption of whole down trend from 1.2004 and long term bearish reversal. EUR/CHF should then target 1.0629 support and below. This will now remain the favored case as long as 1.1444 resistance holds.

Daily Pivots: (S1) 1.1955; (P) 1.1974; (R1) 1.2004; More…

EUR/CHF continues to lose upside momentum as it’s pressing 1.2 handle. But further rise is expected as long as 1.1956 minor support holds. Sustained break of 1.2 will extend the current up trend to 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. On the downside, below 1.1956 will turn bias turn bias to the downside for retreat to 4H 55 EMA (now at 1.1898) or below before staging another rally.

In the bigger picture, decisive break of 1.1832 should now extend the medium term up trend through prior SNB imposed floor at 1.2000. 2013 high at 1.2649 should be the next target. Outlook will remain bullish as long as 1.1445 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.0619; (P) 1.0646; (R1) 1.0674; More…

EUR/CHF’s consolidation from 1.0590 temporary continues today and intraday bias remains neutral. Stronger recovery cannot be ruled out. but upside should be limited by 1.0737 resistance to bring down trend resumption. On the downside, break of 1.0590 will turn bias to the downside for 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. While initial support might be seen from 1.0629 on first attempt, outlook will stay bearish as long as 1.1059 resistance holds. Decisive break of 1.0629 will pave the way to parity next.

Daily Pivots: (S1) 1.0957; (P) 1.1008; (R1) 1.1041; More…

Intraday bias in EUR/CHF is neutral for the moment and outlook is unchanged. Consolidation from 1.0811 could extend with another rise. 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, below 1.0964 minor support will turn bias back to the downside for retesting 1.0811. 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) 1.0747; (P) 1.0760; (R1) 1.0778; More…

No change in EUR/CHF’s outlook as range trading continues. Intraday bias remains neutral and further rise is in favor with 1.0712 support intact. On the upside, break of 1.0838 will target 1.0915 resistance next. However, break of 1.0712 will suggest that rebound from 1.0602 has completed and turn bias back to the downside for this support.

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) 1.1372; (P) 1.1395; (R1) 1.1420; More…

Intraday bias in EUR/CHF remains neutral as it’s staying in tight range below 1.1452 resistance. On the downside, break of 1.1361 minor support will suggest rejection by 1.1452 resistance. Intraday bias will then be turned back to the downsides for retesting 1.1154/98. On the upside, decisive break of 1.1452 resistance should confirm bullish reversal, after drawing strong support from 1.1154/98 zone. In that case, outlook will be turned bullish for 1.1713 resistance next.

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 1.1234) 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) 1.0736; (P) 1.0751; (R1) 1.0763; More…

Intraday bias in EUR/CHF remains neutral at this point. on the downside, break of 1.0721 support will argue that the rebound from 1.0602 has completed. Intraday bias will be turned back to the downside for retesting this support. On the upside, break of 1.0877 will target a test on 1.0915 high next.

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.