Euro Drives Ahead as it Briefly Tests 1.2100

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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.

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