[m.youssif]

USD/CHF dropped to new record low of 0.8780 before making a temporary low there and recovered. Intraday bias is neutral for the moment for some consolidations. But recovery is expected to be limited below 0.9006 resistance and bring down trend resumption. Below 0.8780 will target 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 first and then 100% projection of 0.9774 to 0.8921 from 0.9339 at 0.8486.

In the bigger picture, whole decline from 1.1729 is still in progress and is expected to develop into a five wave impulsive pattern, with fall from 1.0065 as third leg. Sustained trading below 0.9 psychological level should now pave the way to 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 first and then 100% projection at 0.7798. On the upside, break of 0.9339 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

In the longer term picture, long term down trend from 2000 high of 1.8305 is still in progress. There are various interpretation of the price actions. But after all, USD/CHF should be resuming the set of impulsive fall from 1.8305 to 1.1288. 61.8% projection of 1.8305 to 1.1288 from 1.3283 at 0.8946 is already met. Sustained trading below 0.9 psychological level will pave the way towards 100% projection at 0.6266.

[m.youssif]

USD/CHF dropped to new record low of 0.8780 before making a temporary low there and recovered. Intraday bias is neutral for the moment for some consolidations. But recovery is expected to be limited below 0.9006 resistance and bring down trend resumption. Below 0.8780 will target 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 first and then 100% projection of 0.9774 to 0.8921 from 0.9339 at 0.8486.

In the bigger picture, whole decline from 1.1729 is still in progress and is expected to develop into a five wave impulsive pattern, with fall from 1.0065 as third leg. Sustained trading below 0.9 psychological level should now pave the way to 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 first and then 100% projection at 0.7798. On the upside, break of 0.9339 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

In the longer term picture, long term down trend from 2000 high of 1.8305 is still in progress. There are various interpretation of the price actions. But after all, USD/CHF should be resuming the set of impulsive fall from 1.8305 to 1.1288. 61.8% projection of 1.8305 to 1.1288 from 1.3283 at 0.8946 is already met. Sustained trading below 0.9 psychological level will pave the way towards 100% projection at 0.6266.