Swiss Franc Correcting to 1.1900

Commentary: The drop below 1.1815 satisfies minimum expectations for the decline from 1.1898. We wrote yesterday that “this decline from 1.1898 is wave 5 in the 5 wave decline from 1.2151 so risk of an upward correction back to 1.1900 or so increases with every tick lower.”

That correction appears underway now. Strategy: Exit shorts at market