Swiss Franc Expanded Flat Correction

Commentary: We wrote yesterday that “drop below 1.1815 satisfies minimum expectations for the decline and that a larger correction was underway.”

A correction is underway, but not the larger one that we thought was underway. It seems as though an expanded flat is unfolding from the wave 3 low as the 4th wave. Expect a spike through 1.1898 to complete the correction before price rolls over and comes back under 1.1800. Strategy: Flat