EUR/USD Remains Quite Bullish

While GBP/USD reacted enthusiastically to Theresa May’s speech about BREXIT the EUR/USD reaction was far more lackluster. The pair remained quite undecided and formed a brief, choppy move to the downside, which resulted in several hanging men candlesticks on the fifteen-minute time-frame and another one on the thirty-minute time-frame, which could be a potential signal for a brief retracement towards 1.0670. Apart from that the pair remains quite bullish on the larger time-frames, testing the resistance at 1.0715 – 1.0720. If EUR/USD succeeds in breaking above that level there will likely be a further move to the upside towards the next visible resistance at 1.0755, which coincides with the (MA)89 indicator on the daily time-frame.