Main Scenario: As long as EURUSD stays below 1.2170, the main trend will be downwards. Then the pair may go up to to 1.2118 price level
Target Expectation: 1.2118
Considerations Supporting The Scenario:
Resource-oriented currencies including the Canadian dollar and the Aussie consolidated gains on Tuesday, as a rally in commodity prices boosted their appeal, while the greenback held near multi-month lows on growing concerns about price pressures.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.2170
Alternative Target Expectation: 1.2199