On Friday, I wrote that “the ensuing advance should retrace a good portion of the decline. The 61.8% of the decline is at 1.1135. This is also where the advance from 1.0799 would be equal to the 1.0686-1.0940 advance.”
The USDCHF reached the mentioned level. We’ll have to wait for clarification going forward since the advance from 1.0686 could be either an X wave (in which case a top may be in) or the beginning of a larger advance.
