EUR/USD continues to rise on Monday, but the pair is in a holding pattern until the notes and announcement from Sarkozy/Merkel meeting are released. The pair have to find some kind of solution to the European debt issue, and if they don't - this pair will get ugly in short order. However, if they do, we could see a rise above the 1.45, which would signal a flag-based move to 1.65 or so!
The EUR/CHF pair rose to the 1.15 mark as there is talk of a currency peg by the SNB. However, the pair failed to break through, and now looks weak at these lofty levels. A break of Monday's lows could send this pair to 1.10 in a matter of hours.
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