STRATEGY:

Main Scenario: As long as EURUSD  stays below 1.1773, the main trend will be downwards. Then the pair may down  to 1.1697 price level

Target Expectation: 1.1697

Considerations Supporting The Scenario: 

The dollar rallied to a month-high in Asia on Monday as looming catastrophe at indebted developer China Evergrande added extra nerves to a cautious mood, with investors bracing for the Federal Reserve to take another step towards tapering this week.

Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.1773

Alternative Target Expectation: 1.1848