Daily Pivots: (S1) 1.0815; (P) 1.0833; (R1) 1.0859; More….

EUR/CHF’s breach of 108.39 resistance suggests that the fall form 1.1149 has completed at 1.0694. Intraday bias stays mildly on the upside for 1.0863/0985 resistance zone. 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.

EUR/CHF’s decline from 0.9995 extended lower last week without clear sign of bottoming. This decline now looks more likely part of the whole corrective pattern from 1.0095. But even so, considering bullish convergence condition in 4H MACD, downside should be contained by 61.8% retracement of 0.9407 to 1.0095 at 0.9670. On the upside, break of 0.9760 resistance should confirm short term bottoming and turn bias back to the upside for stronger rebound.

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 0.9963). 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).

In the long term picture, it’s still way too early too call for bullish trend reversal with upside capped well below 55 M EMA (now at 1.0515) and 1.0505 support turned resistance (2020 low). The multi-decade down trend could still continue.

Daily Pivots: (S1) 1.0798; (P) 1.0818; (R1) 1.0828; More….

EUR/CHF’s breach of 1.0802 suggests decline resumption and intraday bias is back on the downside. Current fall from 1.1149 should target 1.0737 cluster support next. On the upside, break of 1.0863 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed with three waves up to 1.1149 already, after hitting 1.1078 long term fibonacci level. On the downside, sustained trading below 55 week EMA (now at 1.0880) will affirm this bearish case. Further break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) will bring retest of 1.0505 low.

Daily Pivots: (S1) 1.1042; (P) 1.1068; (R1) 1.1087; More….

Intraday bias in EUR/CHF remains neutral as consolidation from 1.1149 is extending. 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) 1.1523; (P) 1.1551; (R1) 1.1595; More….

Break of 1.1565 suggests that recovery from 1.1387 has resumed. Intraday bias in EUR/CHF is turned back to the upside for retesting 1.1622 high. At this point, we’d still expect resistance from there to limit upside to bring another fall. Consolidation from 1.1622 would extend with another leg. On the downside, below 1.1483 minor support will turn bias to the downside for 1.1387 support and below.

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 fall from 1.1476 extended to as low as 1.1195 last week. There is no sign of bottoming yet and further decline is in favor this week towards 1.1162 key support. For now, we’d still expect strong support above 1.1162 to bring rebound. On the upside, break of 1.1292 minor resistance will 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.

In the long term picture, current development suggests that medium term fall from 1.2004 is merely a corrective move. That is, up trend from 0.9771 is not completed yet. Nevertheless, there is little prospect of up trend resumption yet. More range trading should be seen in medium term. However, firm break of 61.8% retracement of 1.0629 to 1.2004 at 1.1154 will argue that the long term trend has reversed. In this case, deeper decline could be seen back to 1.0629 support and below.

Daily Pivots: (S1) 1.0204; (P) 1.0247; (R1) 1.0283; More….

Intraday bias in EUR/CHF is mildly on the downside for the moment. Corrective pattern from 1.0400 is extending with another falling leg. Deeper decline could be seen to 1.0086 support. On the upside, though, break of 1.0400 resistance will resume the rebound from 0.9970 to 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. In any case, sustained break of 1.0505 support turned resistance (2020 low) is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 0.9618; (P) 0.9639; (R1) 0.9661; More….

No change in EUR/CHF’s outlook and intraday stays on the downside. Deeper fall would be seen to 0.9563 support. Decisive break there will argue that whole rise from 0.9252 has completed, and bring deeper fall to 61.8% retracement of 0.9252 to 0.9928 at 0.9510. On the upside, above 0.9673 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 0.9563 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Next target is 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even just as a correction to the down trend from 1.2004. However, firm break of 0.9563 will suggest that the rally has completed and retain medium term bearishness.

Daily Pivots: (S1) 1.0755; (P) 1.0770; (R1) 1.0787; More…

Intraday bias in EUR/CHF remains neutral and outlook is unchanged. With 1.0721 support intact, further rise remains in favor. On the upside, break of 1.0877 will resume the rebound from 1.0602 and target 1.0915 high. On the downside, break of 1.0721 will argue that the rebound from 1.0602 has completed and turn bias back to the downside for retesting 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.

Daily Pivots: (S1) 1.0967; (P) 1.0998; (R1) 1.1013; More…

EUR/CHF’s break of 1.0967 minor support suggests rise rise from 1.0863 has completed. Intraday bias is turned back to the downside for 1.0811/63 support zone. Decisive break there will indicate larger down trend resumption. In case of another rise, upside should be limited by 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065).

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) 0.9889; (P) 0.9940; (R1) 0.9972; More…

Intraday bias in EUR/CHF remains neutral as range trading continues. Near term outlook stays cautiously bullish with 0.9837 minor support intact. Correction from 1.0095 could have completed at 0.9704 already. Break of 0.9995 will affirm this bullish case and target a retest on 1.0095 high. However, break of 0.9837 will dampen this bullish view and turn bias back to the downside for 0.9704 support instead.

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) 1.0571; (P) 1.0609; (R1) 1.0642; More…

No change in EUR/CHF outlook and further decline is expected with 1.0710 resistance intact. Current down trend should target 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. On the upside, break of 1.0710 resistance, however, will indicate short term bottoming. Intraday bias would be turned back to the upside for stronger rebound.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. Decisive break of 1.0629 key support should now pave the way to parity next. Overall, outlook will remain bearish as long as 1.0811 support turned resistance holds, in case of rebound.

Daily Pivots: (S1) 0.9710; (P) 0.9729; (R1) 0.9767; More..

EUR/CHF is staying below 0.9786 temporary top despite today’s recovery. Intraday bias remains neutral and more consolidations could be seen. but downside of retreat should be contained by 0.9630 resistance turned support to bring rebound. On the upside, above 0.9786 will resume the rally from 0.9252 towards 1.0095 resistance next.

In the bigger picture, a medium term bottom should be in place at 0.9252 already, on bullish convergence condition in W MACD. Rise from there would now target 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even as a correction to the down trend from 1.2004. This will remain the favored case as long as 55 D EMA (now at 0.9535) holds.

Daily Pivots: (S1) 1.1782; (P) 1.1807; (R1) 1.1832; More…

EUR/CHF’s medium term rally is still in progress and is heading towards 1.2 handle. At this point, considering relatively weak upside momentum as seen in daily MACD we’d still expect strong resistance below 1.2 handle to limit upside and bring medium term reversal. But break of 1.1683 support is needed to indicate short term topping first. Otherwise, outlook will remain mildly bullish in case of retreat.

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) 1.0752; (P) 1.0779; (R1) 1.0815; More….

Intraday bias in EUR/CHF remains neutral for the moment. With 1.0839 resistance intact, outlook remains bearish and further decline is expected. On the downside, break of 1.0694 will resume larger fall from 1.1149. 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.

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.

Daily Pivots: (S1) 1.1010; (P) 1.1040; (R1) 1.1063; More…

EUR/CHF lost momentum after hitting 1.1072 and intraday bias is turned neutral first. As long as 1.0983 support holds, further rally is expected in the cross. Current rise from 1.0629 should target 1.1127/98 resistance zone. However, break of 1.0983 will indicate short term topping and turn bias back to the downside for 55 day EMA (now at 1.0906).

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 1.1198 will resume the long term rise from SNB spike low back in 2015. In such case, EUR/CHF could eventually head back to prior SNB imposed floor at 1.2000. However, rejection from 1.1198 will extend the multi-year range trading with another fall.

Daily Pivots: (S1) 1.0024; (P) 1.0052; (R1) 1.0093; More….

EUR/CHF rally is still accelerating and hits as high as 1.0095 so far today. Further rally should be seen to 100% projection of 0.9407 to 0.9953 from 0.9720 at 1.0266 next. On the downside, below 1.0017 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, break of 38.2% retracement of 1.1149 to 0.9407 at 1.0072 and 55 week EMA (now at 1.0041) is taken as an initial sign of long term bullish reversal. Further rally is expected as long as 55 days EMA (now at 0.9860) holds. Next target is 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484). Reactions from there should reveal long term momentum.

Daily Pivots: (S1) 0.9514; (P) 0.9523; (R1) 0.9542; More…

Intraday bias in EUR/CHF remains on the upside for the moment. Current rise from 0.9252 should target 0.9574 fibonacci level next. However, considering possible bearish divergence condition in 4H MACD, break of 0.9466 minor support will indicate short term bottoming, and turn bias back to the downside.

In the bigger picture, price actions from 0.9252 are tentatively seen as a correction to the five-wave down trend from 1.0095 (2023 high). Further rise would be seen to 38.2% retracement of 1.0095 to 0.9252 at 0.9574 and possibly above. But overall medium term outlook will remain bearish as long as 0.9683 resistance holds.

Daily Pivots: (S1) 1.0787; (P) 1.0818; (R1) 1.0865; More…

EUR/CHF’s breach of 1.0838 resistance suggests that rise from 1.0602 is resuming. Further rise is now in favor as long as 1.0739 support holds, towards 1.0915 resistance. However, break of 1.0739 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) 1.1192; (P) 1.1246; (R1) 1.1280; More…

Intraday bias in EUR/CHF remains on the downside for 1.1173 low, which is inside 1.1154/98 key support zone. We’d look for strong support from there to bring rebound. But decisive break will carry larger bearish implication. On the upside, above 1.1298 minor resistance will turn bias back to the upside for rebound.

In the bigger picture, with last week’s sharp decline, price actions from 1.1173 are now looking more like a consolidation that’s completed at 1.1444. Bearishness is also reflected in multiple rejection by 55 week EMA. Immediate focus is back 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. 1.0629 support will be next target.