Swiss Franc 5 Waves Points Lower (USDCHF Higher)

Commentary: We wrote yesterday that “the recent turn is either a correction in larger wave 4 within the 5 wave bear cycle from 1.2467 or is something more bullish. Either way, price is expected to challenge former congestion at 1.1300 in the next few weeks (if not sooner).”

The USDCHF is already pressing against 1.1200 and the rally from 1.0886 is a beautiful 5 wave advance. 5 Waves higher indicates that the trend of the next larger degree is up so we should expect at least one more 5 wave rally, but not before a corrective setback. We will use this correction to get bullish.
Strategy: Flat