Main Scenario: As long as EURUSD stays below 1.1796, the main trend will be downwards. Then the pair may go down to 1.1712 price level
Target Expectation: 1.1712
Considerations Supporting The Scenario:
The dollar ticked up against a basket of six major currencies, rising 0.083% to 92.699 after dropping to a one-week low on Friday.
In more risk-off moves, the yield on benchmark 10-year Treasury notes fell as demand for safe-haven U.S. bonds ticked up. The yield on benchmark 10-year Treasury notes dropped to 1.25% compared with its U.S. close of 1.257% on Monday.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.1796
Alternative Target Expectation: 1.1815