Main Scenario: As long as EURUSD pair stays above 1.1754 and 1.1688, the main trend will be upward. Once 1.1894 price level is breached on daily basis, then the pair will again try to test 1.1967.
Target Expectation:1.1967 – 1.2043
Considerations Supporting The Scenario: Federal Reserve unveiled a new framework that could keep interest rates lower for a longer period of time.In a speech, Fed Chairman Jerome Powell said the central bank formally agreed to a policy of “average inflation targeting” In other words, the central bank will let inflation run “moderately” above its 2% goal for “some time.” Thi speech weakenen the Dolar against major currencies. The dolar index is currently at 92.29 level and is down about %0.75 on daily base.
Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1.1754 price level
Alternative Target Expectation: 1.1688