The EURUSD pair has reached a new high and right now is moving downwards with the target at 1.1994. We think, today the price may reach this target and then grow towards 1.2043, thus forming the descending impulse along with the correction. Later, in our opinion, the market may form another consolidation range between the above-mentioned levels. 1.2070. If later the instrument breaks this consolidation range to the upside, the market may grow towards 1.2121; if to the downside – continue the correction to reach 1.1887.