Commentary: The USDCHF is in the exact same position as the EURUSD (but as the inverse). Wave 1 down is close to complete at 1.1226. Although a test of 1.1200 is possible, the next larger move will be in a wave 2 correction towards the 1.1400 area (much like the next EURUSD move is likely back to the 1.4600 area). This bounce will present the next bearish opportunity.
Strategy: Exit bearish position
Al Bawaba
