Giant Wedge Setup in Euro-Swiss Currency Cross

• EUR/CHF continues to swing within a shrinking trading range
• Failure analysis points to a possible breakout and a move toward the 2004 High
• High probability setup points to a reversal from the wedges upper boundary and a move toward 50.0 Fib At 1.5165

Key Levels - Current Price: 1.5555

Level      Type              Significance
1.5875     Resistance     2004 High
1.5680     Resistance     Wedge's upper boundary
1.5450     Support          Wedge's lower boundary
1.5538     Support          23.6 Fib of the 1.4455-1.5872 EUR rally
1.5330     Support          38.2 Fib of the 1.4455-1.5872 EUR rally
1.5163     Support          50.0 Fib of the 1.4455-1.5872 EUR rally

Weekly Chart

Daily Chart I

Daily Chart II

Daily Chart III

4-Hour Chart

Sam Shenker is a Technical Currency Analyst for FXCM.