Main Scenario: As long as EURUSD stays above 1.1748, the main trend will be upwards. Then the pair may go up to 1.1776 price level
Target Expectation: 1.1776
Considerations Supporting The Scenario:
Dallas Fed President Robert Kaplan said he believed the economic recovery warrants tapering of asset purchases to commence around October. Earlier, St. Louis Fed President James Bullard said the central bank was “coalescing” around a plan to begin tapering.
The dollar and U.S. yields were little moved on Friday ahead of Powell’s speech.
Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1.1748
Alternative Target Expectation: 1.1726