Main Scenario: As long as EURUSD stays below 1.1748, the main trend will be downwards. Then the pair may down to 1.1694 price level
Target Expectation: 1.1694
Considerations Supporting The Scenario:
Moves were capped ahead of Wednesday’s Fed meeting, however, and the dollar was flat against the euro, with the risk of a hawkish Fed supporting the dollar.
Most analysts think the Fed will not go into detail about its tapering plans but say risks lie in board members’ “dot plot” of rates projections.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.1748
Alternative Target Expectation: 1.1762