EUR/USD: Bulls strengthen their grip

EUR/USD: Bulls strengthen their grip

On the EUR/USD daily chart, the quotes are moving towards the resistance at 1.1345 (78.6% of the last downward wave). Until the euro breaks the support at 1.117 the pair will be under the Bulls' control. For the development of the correction, the quotes should fall below 1.113.  

On the EUR/USD hourly chart, a break of the lower border of the upward trading channel and the combination of the "Three Indian" and 1-2-3 patterns will create prerequisites for a rollback.  The target of the corrective movement is the convergence zone of 1.121-1.1215  (target in the Gartley pattern + psychologically important support).

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