By FXEmpire.com
Threats of a currency peg continued to drive the price of EUR/CHF higher on Monday as traders have been running from the CHF in droves. However, at the end of the session, we have seen that the pair has failed at the 1.15 level, and is forming a shooting star. The trend is down, and as such – we like sell signals. The word is that if a peg is done, it will be to the 1.10 level, and that would mean that the market has to fall from here. We like the candle shape, the location, and the trend being part of this potential move. We are sellers if the bottom of the Monday range gives way to the downside. A break above this candle sends this pair looking for 1.18 and 1.20 respectively.
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