[m.youssif]

EUR/CHF's fall from 1.3234 resumed last week and dropped to as low as 1.2575 so far. Initial bias remains on the downside this week for 1.2401 first. As noted before, whole consolidation patter from 1.2401 should have completed at 1.3234 already. Break of 1.2401 will confirm down trend resumption for 1.2 psychological level first. On the upside, above 1.2745 minor resistance will turn bias neutral and bring recovery. But upside should be limited below 1.2971 resistance and bring fall resumption.

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 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.

In the long term picture, fall from 1.6827 should be resuming whole down trend from 1993 high of 1.8234. Sustained trading below 1.3 psychological level will send the cross further lower to 138.2% projection of 1.8234 to 1.4391 from 1.6827 at 1.1516.

[m.youssif]

EUR/CHF's fall from 1.3234 resumed last week and dropped to as low as 1.2575 so far. Initial bias remains on the downside this week for 1.2401 first. As noted before, whole consolidation patter from 1.2401 should have completed at 1.3234 already. Break of 1.2401 will confirm down trend resumption for 1.2 psychological level first. On the upside, above 1.2745 minor resistance will turn bias neutral and bring recovery. But upside should be limited below 1.2971 resistance and bring fall resumption.

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 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.

In the long term picture, fall from 1.6827 should be resuming whole down trend from 1993 high of 1.8234. Sustained trading below 1.3 psychological level will send the cross further lower to 138.2% projection of 1.8234 to 1.4391 from 1.6827 at 1.1516.