The USDCHF pattern is tracking our count nicely.
We wrote yesterday that “the drop reached 1.0389 and wave 5 of C is likely in its early stages now.” A rally in wave 5 of C would exceed 1.06 and potentially reach 1.10 in coming weeks. As such, a bullish bias is warranted against 1.0389.
STRATEGY: Bullish, against 1.0389, target above 1.0607