A triangle is the pattern that we have suspected may be unfolding in the USDCHF. In this case, “expect price to work lower in a choppy manner towards the mid 1.08s over the next few weeks.” The drop from 1.1105 is in 5 waves, therefore a rally to at least former resistance at 1.0986 is expected. The alternate count (in red) suggests that a significant low may be in place. The best way to play this would be with a breakout strategy through 1.1105.
