Main Scenario: As long as EURUSD stays below 1.1734, the main trend will be downwards. Then the pair may down to 1.1705 price level
Target Expectation: 1.1705
Considerations Supporting The Scenario:
The 10-year U.S. Treasury yield crept up to 1.3277%. Investors are looking to the Fed on Wednesday for any insight into the tapering timeline as well as board members’ rates and economic projections.
Many analysts think details of the Fed’s taper timeline probably won’t be announced until November.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.1734
Alternative Target Expectation: 1.1757