Euro Continues to Dominate

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The euro currency posted further gains, marking three days of solid gains so far.

Price action is comfortably settled above the 1.2000 handle with prices breaking past the 1.2100 level as well.

The strong gains could however trigger a correction, given the lack of forming any lower support. This also weakens the upside bias.

Furthermore, the Stochastics oscillator is well overbought and could signal a move lower. The main support of interest is found near the 1.2000 level for the moment.

However, a firmer support could form near 1.1900 level next.

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