STRATEGY:

Main Scenario: As long as EURUSD  stays below 1.1614, the main trend will be downwards. Then the pair may down  to 1.1534 price level

Target Expectation: 1.1534

Considerations Supporting The Scenario: 

The dollar edged higher on Monday after two consecutive sessions of losses as hedge funds ramped up their holdings as widening concerns about the Chinese property sector and resilient U.S. Treasury yields boosted the appeal of the greenback.

Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.1614

Alternative Target Expectation: 1.1660