Main Scenario: As long as EURUSD stays below 1.1731, the main trend will be downwards. Then the pair may go down to 1.1699 price level
Target Expectation: 1.1699
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.
The dollar held at a nine-month high versus the euro on Wednesday as major currencies marked time before the release of the Fed’s July minutes, with the kiwi the big mover overnight after its central bank kept interest rates unexpectedly on hold.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.1731
Alternative Target Expectation: 1.1761