Daily Pivots: (S1) 0.9868; (P) 0.9902; (R1) 0.9927; More…

Intraday bias is back on the downside in USD/CHF with focus on trend line support (now at 0.9865). Sustained trading below there will indicate that fall from 1.0056 is a larger scale correction, correcting rise from 0.9186. And deeper fall would be seen back to 0.9724 fibonacci level before completion. Though, rebound from current level, followed by break of 0.9982 minor resistance will bring retest of 1.0056 high.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9868; (P) 0.9902; (R1) 0.9927; More…

Intraday bias in USD/CHF remains neutral for the moment. We’d continue to expect strong support from near term trend line (now at 0.9863) to complete the correction from 1.0056 to bring rise resumption. On the upside, above 0.9982 will bring retest of 1.0056 first. However, sustained break of the trend line will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9850; (P) 0.9916; (R1) 0.9981; More…

Intraday bias in USD/CHF remains neutral at this point. For now, we’d continue to expect strong support from near term trend line (now at 0.9860) to complete the correction from 1.0056 to bring rise resumption. On the upside, above 0.9982 will bring retest of 1.0056 first. However, sustained break of the trend line will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9850; (P) 0.9916; (R1) 0.9981; More…

USD/CHF recovers after touching near term rising trend line support. But upside is limited below 0.9982 minor resistance. Intraday bias remains neutral first. We’d continue to expect strong support from the trend line to complete the correction from 1.0056 to bring rise resumption. Above 0.9982 will bring retest of 1.0056 first. However, sustained break of the trend line will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9905; (P) 0.9931; (R1) 0.9963; More…

Despite breaching 0.9977 minor resistance, there is no follow through buying yet. Intraday bias in USD/CHF remains neutral first. For now, we’re still treating price actions fro 1.0056 as a near term correction. Hence even in case of another fall, downside should be contained by trend line (now at 0.9853) to bring rebound. Above 0.9982 should bring retest of 1.0056 high. However, sustained break of the trend line will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9905; (P) 0.9931; (R1) 0.9963; More…

Intraday bias in USD/CHF remains neutral at this point. Focus stays on 0.9977 minor resistance. Break there will argue that corrective pull back from 1.0056 has completed already. Intraday bias will then be turned back to the upside for retesting 1.0056 high first. In case of another fall, we’d expect strong support from trend line (now at 0.9848) to contain downside and bring rebound. However, sustained break of the trend line will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9885; (P) 0.9911; (R1) 0.9926; More…

Intraday bias in USD/CHF is turned neutral with today’s recovery. Focus is back on 0.9977 minor resistance. Break there will argue that corrective pull back from 1.0056 has completed already. Intraday bias will then be turned back to the upside for retesting 1.0056 high first. In case of another fall, we’d expect strong support from trend line (now at 0.9842) to contain downside and bring rebound. However, sustained break of the trend line will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9885; (P) 0.9911; (R1) 0.9926; More…

No change in USD/CHF’s outlook. Deeper fall could be seen as correction from 1.0056 extends. But we’d expect strong support from trend line (now at 0.9830) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high. However, sustained break of the trend line will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

USD/CHF’s correction extend lower last week and outlook is unchanged. Initial bias remains on the downside this week for trend line support (now at 0.9833). We’d expect strong support from trend line (now at 0.9830) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high. However, sustained break of the trend will will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

In the long term picture, price actions from 0.7065 (2011 low) are not clearly impulsive yet. Thus, we’ll treat it as developing into a corrective pattern, at least, until a firm break of 1.0342 resistance.

Daily Pivots: (S1) 0.9877; (P) 0.9921; (R1) 0.9956; More…

No change in USD/CHF’s outlook. While downside momentum is diminishing as seen in 4 hour MACD, with 0.9977 minor resistance intact, correction from 1.0056 could extend lower. But we’d expect strong support from trend line (now at 0.9830) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9877; (P) 0.9921; (R1) 0.9956; More…

With 0.9977 minor resistance intact, correction from 1.0056 could extend lower. But we’d expect strong support from trend line (now at 0.9830) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9908; (P) 0.9944; (R1) 0.9993; More…

USD/CHF’s corrective fall from 1.0056 resumed today by breaking 0.9892. Intraday bias is back on the downside. For now, we’d still expect strong support from trend line (now at 0.9825) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9908; (P) 0.9944; (R1) 0.9993; More…

USD/CHF recovered to 0.9977 and breached 0.9956 minor resistance. But there was no follow through buying. Hence, intraday bias is turned neutral first. On the downside, below 0.9892 will extend the corrective fall from 1.0056. But we’d expect strong support from trend line (now at 0.9825) to contain downside and bring rebound. On the upside, above 0.9977 will suggest that the pull back is finished and bring retest of 1.0056 high.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9900; (P) 0.9945; (R1) 0.9973; More…

Intraday bias in USD/CHF remains on the downside as the correction from 1.0056 is still in progress. Further decline would be seen to trend line (now at 0.9819). We’d expect strong support from there to contain downside and bring rebound. On the upside, above 0.9956 minor resistance will bring retest of 1.0056 high first.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9900; (P) 0.9945; (R1) 0.9973; More…

USD/CHF’s corrective decline from 1.0056 extends to as low as 0.9892 so far. Intraday bias remains mildly on the downside for deeper fall to trend line (now at 0.9817). We’d expect strong support from there to contain downside and bring rebound. On the upside, above 0.9956 minor resistance will bring retest of 1.0056 high first.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9961; (P) 0.9981; (R1) 0.9994; More…

Break of 0.9949 minor support suggests that correction from 1.0056 is heading lower. Intraday bias is turned mildly to the downside for deeper fall. But we’d expect strong support from trend line (now at 0.9809) to contain downside to bring rebound. On the upside, firm break of 1.0056 will confirm rise resumption for 1.0342 key resistance.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9961; (P) 0.9981; (R1) 0.9994; More…

Intraday bias in USD/CHF remains neutral as consolidation from 1.0056 continues. Deeper pull back could be seen. But we’d expect strong support from trend line (now at 0.9807) to contain downside to bring rebound. On the upside, firm break of 1.0056 will confirm rise resumption for 1.0342 key resistance.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9943; (P) 0.9983; (R1) 1.0015; More…

Intraday bias in USD/CHF remains neutral at this point. Correction from 1.0056 could extend with another fall. But we’d expect strong support from trend line (now at 0.9799) to contain downside to bring rebound. On the upside, firm break of 1.0056 will confirm rise resumption for 1.0342 key resistance.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.9943; (P) 0.9983; (R1) 1.0015; More…

Intraday bias in USD/CHF is turned neutral again with today’s recovery. Overall, price actions from 1.0056 are seen as a corrective pattern. Deeper pull back cannot be ruled out. But we’d expect strong support from trend line (now at 0.9799) to contain downside to bring rebound. On the upside, firm break of 1.0056 will confirm rise resumption for 1.0342 key resistance.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

The late breach of 0.9956 minor support last week suggests that correction from 1.0056 is extending lower. Initial bias is mildly on the downside this week deeper decline. We’d expect strong support from trend line (now at 0.9799) to contain downside to bring rebound. But, on the upside, break of 1.0056 is needed to confirm rise resumption. Otherwise, more consolidation would be seen first even in case of rebound.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

In the long term picture, price actions from 0.7065 (2011 low) are not clearly impulsive yet. Thus, we’ll treat it as developing into a corrective pattern, at least, until a firm break of 1.0342 resistance.