Swiss Franc in C Leg of Correction

[B]Commentary[/B]: The USDCHF reversed last week just before the 100% of 1.1993-1.2329/1.2145 at 1.2481. We wrote last week that "since the USDCHF has stalled just below the 100% extension (1.2481), be wary of a pullback towards.

A small c wave is expected to bring price back to the former 4th wave at 1.2372. This is a good point to either add to longs or initiate longs." The pair is just above this level. The longer term bullish structure is intact above 1.2145 [B]Strategy[/B]: Bullish now, against 1.2145, targeting 1.2500 and 1.2700 (add to position at 1.2372)