[m.youssif]

EUR/CHF






Intraday bias in EUR/CHF remains neutral for the moment and some consolidations could be seen below 1.2886 temporary top first. Though, another rise remains in favor as long as 1.2676 minor support holds. As noted before, rise from 1.2432 is possibly the third leg of the consolidation pattern from 1.2401. Above 1.2886 will bring another rise to 1.3038 or possibly further to 1.3203 resistance. Though, below 1.2676 will indicate that rebound from 1.2432 has completed and should flip bias back to the downside for 1.2401 low instead.

In the bigger picture, whole down trend from 1.6287 (2007 high) is still in progress and in any case, medium term outlook will remain bearish as long as 1.3833 resistance holds. The current down trend would likely continue through 1.2 psychological level towards 100% projection of 1.5138 to 1.2765 from 1.3833 at 1.1460, which is close to long term projection level at 1.1516. However, break of 1.3833 will confirm medium term bottoming and should bring strong rebound to 1.4315 resistance and above.

[m.youssif]

EUR/CHF






Intraday bias in EUR/CHF remains neutral for the moment and some consolidations could be seen below 1.2886 temporary top first. Though, another rise remains in favor as long as 1.2676 minor support holds. As noted before, rise from 1.2432 is possibly the third leg of the consolidation pattern from 1.2401. Above 1.2886 will bring another rise to 1.3038 or possibly further to 1.3203 resistance. Though, below 1.2676 will indicate that rebound from 1.2432 has completed and should flip bias back to the downside for 1.2401 low instead.

In the bigger picture, whole down trend from 1.6287 (2007 high) is still in progress and in any case, medium term outlook will remain bearish as long as 1.3833 resistance holds. The current down trend would likely continue through 1.2 psychological level towards 100% projection of 1.5138 to 1.2765 from 1.3833 at 1.1460, which is close to long term projection level at 1.1516. However, break of 1.3833 will confirm medium term bottoming and should bring strong rebound to 1.4315 resistance and above.