The euro currency continues to power on as price touched a new high of 1.2100 intraday on Wednesday.
The gains come as the US dollar continues to soften on speculation of a new stimulus bill from Congress.
For the moment, price action remains bullish. But, considering that there has been no real support except for the trend line, signals a possible correction.
This could mean that the EURUSD is likely to fall back to the trend line support.
A breakdown of the trend line could however signal further losses down to the 1.1900 levels.