Daily Pivots: (S1) 1.0874; (P) 1.0890; (R1) 1.0909; More…

Intraday bias in EUR/CHF remains neutral for consolidation above 1.0856 temporary low. On the downside, break of 1.0856 will target 1.0811 low. Decisive break there will resume larger down trend. On the upside, break of 1.0926 minor resistance will turn bias back to the upside for recovery. Overall outlook is unchanged that’s consolidation from 1.0811 might extend. In case of another recovery, upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to bring larger down trend resumption.

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.

EUR/CHF dipped through 1.1559 minor support last week as correction from 1.1709 extends. But overall outlook is unchanged. While more consolidation could be seen, outlook will remain bullish as long as 1.1483 support holds. On the upside, above 1.1663 minor resistance will turn bias back to the upside for 1.1709 high. Break will resume medium term rally to 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 1.1105) and possibly below.

Daily Pivots: (S1) 1.0998; (P) 1.1019; (R1) 1.1033; More….

EUR/CHF is staying in consolidation from 1.1149 and intraday bias remains neutral first. Deeper fall could be seen, 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) 1.0840; (P) 1.0852; (R1) 1.0871; More….

Current development suggests that fall from 1.1149 has completed at 1.0694 already. Intraday bias stays on the upside for 1.0985 resistance next. Firm break there will bring further rise to retest 1.1149 high. On the downside, however, break of 1.0780 minor support will turn bias back to the downside for retesting 1.0694 low instead.

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 1.0859) holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 1.0831; (P) 1.0876; (R1) 1.0900; More…

EUR/CHF is still staying in consolidation form 1.0811 and intraday bias remains neutral. In case of another recovery, 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) 1.0844; (P) 1.0862; (R1) 1.0873; More…

Intraday bias in EUR/CHF remains neutral for the moment. On the upside, break of 1.0908 will indicate that pull back from 1.0986 has completed a 1.0837 already. In that case, intraday bias will be turned to the upside for retesting 1.0986/0999 resistance zone. Below 1.0837 will extend the correction. Still, we’d expect strong support from 1.0791/0872 support zone to bring rebound.

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 will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0791 support holds.

Daily Pivots: (S1) 1.1304; (P) 1.1326; (R1) 1.1343; More…

Intraday bias in EUR/CHF is turned neutral with a temporary low formed at 1.1303. For now, price actions from 1.1501 are seen as a corrective pattern. Downside should be contained by 61.8% retracement of 1.1173 to 1.1501 at 1.1298 to bring rebound. On the upside, break of 1.1433 resistance will argue that the pull back has completed. Further rise should be seen back to 1.1501 resistance first. Break of 1.1501 will revive the case of bullish trend reversal. However, sustained break of 1.1298 will turn focus back to 1.1173 low.

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 1.1261) 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) 1.1020; (P) 1.1039; (R1) 1.1073; More….

EUR/CHF is still bounded in consolidation from 1.1096. Intraday bias stays neutral for some more sideway trading. Further rally is expected as long as 1.0915 resistance turned support holds. On the upside, break of 1.1096 will target 100% projection of 1.0503 to 1.0915 from 1.0737 at 1.1149. However, firm break of 1.0915 will argue that the rebound might be completed, and bring deeper fall back to 1.0737 support.

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) 1.0512; (P) 1.0531; (R1) 1.0549; More….

Intraday bias in EUR/CHF is turned neutral as it turned sideway after hitting 1.0505 low. On the downside, Sustained break of 1.0505 low will confirm long term down trend resumption. Next target will be 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200. On the upside, though, break of 1.0596 resistance will now indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, current downside momentum argues that fall from 1.1149 is probably resuming the down trend from 1.2004 (2018 high). Focus is now on 1.0505 (2020 low). Decisive break there will confirm this bearish case and target 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223 next. Strong support from 1.0505 will bring rebound first. But outlook will stay bearish as long as 1.0936 resistance holds.

Daily Pivots: (S1) 1.0648; (P) 1.0664; (R1) 1.0672; More…

EUR/CHF is staying in tight range of 1.0631/0706 and intraday bias remains neutral first. With 1.0706 resistance intact, outlook stays mildly bearish. Break of 1.0620 key support level will extend the larger decline from 1.1198 to 1.0485 fibonacci level. However, considering bullish convergence condition in 4 hour MACD, break of 1.0706 minor resistance will raise the chance of medium term reversal. In that case, focus will be turned 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) 1.0703; (P) 1.0721; (R1) 1.0734; More….

Further decline in EUR/CHF is expected with 1.0750 minor resistance intact. Decisive break of 1.0694 support will resume whole decline from 1.1149. Next target is 61.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0655. On the upside, though, break of 1.0750 minor resistance will turn bias back to the upside for rebound towards 1.0811 support turned resistance first.

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) 1.0934; (P) 1.0955; (R1) 1.0975; More….

Outlook in EUR/CHF remains unchanged as we’d still expect strong support from around 1.0954 to bring rebound. On the upside, break of 1.1073 resistance will argue that larger rise from 1.0503 is ready to resume through 1.1149. However, firm break of 1.0954 will be the first signal of larger reversal and turn focus to 1.0915 resistance turned support.

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) 1.1557; (P) 1.1572; (R1) 1.1586; More….

Intraday bias in EUR/CHF remains neutral at this point. Considering the structure of price actions from 1.1478, another fall is mildly in favor. Break of 1.1478 will urn bias to the downside for 1.1366 first. Break will resume the corrective fall from 1.2004. On the upside, above 1.1656 will resume the rebound from 1.1366 to 61.8% retracement of 1.2004 to 1.1366 at 1.1760. But we would expect strong resistance from there to limit upside.

In the bigger picture, EUR/CHF was solidly rejected 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) 1.0674; (P) 1.0697; (R1) 1.0717; More…

Break of 1.0688 suggests resumption of fall from 1.0877. Such decline is seen as the third leg of the corrective pattern from 1.0915. Intraday bias is back on the downside for 1.0602 support next. On the upside, break of 1.0747 resistance is needed to sign short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 1.0853; (P) 1.0890; (R1) 1.0915; More…

Despite breaching 1.0872 resistance turned support, EUR/CHF quickly recovered. Intraday bias in the cross remains neutral first. Price actions from 1.0986 is a corrective move and downside should be contained by 1.0791/0872 support zone to bring rise resumption. We’re holding on to the bullish view that corrective pattern from 1.1198 has completed already after defending 1.0653 fibonacci level. Firm break of 1.0999 resistance will pave the way for a retest on 1.1198 high.

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 1.0999 resistance will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0791 support holds.

EUR/CHF’s decline resumed by taken out 1.0688 last week. Initial bias stays on the downside this week for further decline. Fall from 1.0877 is seen as the third leg of the pattern from 1.0915. Deeper fall should be seen to 1.0602 support next. On the upside, break of 1.0747 resistance is needed to signal short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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) 1.0994; (P) 1.1011; (R1) 1.1022; More…

Intraday bias in EUR/CHF remains neutral for consolidation first and outlook is 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.

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) 1.1253; (P) 1.1276; (R1) 1.1316; More…

Considering bullish convergence condition in 4 hour MACD, EUR/CHF’s rebound and break of 1.1277 minor resistance suggests short term bottoming at 1.1224. Intraday bias is turned back to the upside for 1.1356 resistance first. Decisive break there should indicate near term reversal and target 1.1501 key resistance. On the downside, below 1.1224 will dampen this bullish case and extend the fall to 1.1173 low instead. But still, we’d expect strong support inside 1.1154/98 key support zone to bring 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. 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) 1.0942; (P) 1.0958; (R1) 1.0978; More…

Intraday bias in EUR/CHF remains on the upside for 1.0999 resistance first. As noted before, the consolidative pattern from 1.1198 should be completed. Break of 1.0999 will pave the way for a retest on 1.1198 high. On the downside, below 1.0917 minor support will turn bias neutral and bring consolidation. But retreat should be contained by 1.0791/0872 support zone to bring rise resumption.

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 1.0999 resistance will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0791 support holds.

Daily Pivots: (S1) 1.1613; (P) 1.1649; (R1) 1.1670; More…

Intraday bias in EUR/CHF remains neutral at this point and outlook is unchanged. We believe that the cross is close to topping, if not formed. This is under persistent bearish divergence condition in 4 hour MACD, and rising wedge like structure since 1.1709. On the downside, decisive break of 1.1597 support will 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.