Main Scenario: As long as EURUSD stays aboove 1.2129, the main trend will be upwards. Then the pair may go up to to 1.2161 price level
Target Expectation: 1.2161
Considerations Supporting The Scenario:
The greenback’s performance against the euro and yen was less pronounced, but it remained above the recent lows hit before higher-than-expected U.S. inflation data last week. While investor nervousness supported the dollar on Monday, analysts generally expect the greenback to weaken as investors bet on a further rebound in other economies as they reopen.
Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1.2129
Alternative Target Expectation: 1.2115