Raising Bullish target on the EURUSD to the 78.6% Retrace

Last week I put out this TLT trade setup that showcased a Falling Wedge with Bullish Divergence at the 0.382 retrace which targeted an upside move in the TLT that would recover at least 50% of the high: In the time since this setup first formed the TLT has nearly reached that minimum target. In addition to the TLT, I expected the EURUSD to follow a similar path, however, the EURO has remained mostly flat and has not moved up with the TLT which is kind of unusual.

It is possible that the EURUSD pair is waiting for the FOMC but in the meantime the Bullish patterns on the EURUSD have gone from just being an intraday pattern to now being a daily pattern, with the Daily candle now printing a Bullish Hammer above the 200-day SMA while also slightly diverging on the RSI. Due to this improvement on the higher timeframe, I have decided to raise the Bullish price target to the 0.786 retrace, aligning with $1.107 as it catches up with the falling US Bond Yields.