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    EUR/USD picks up above weekly PP

    © Dukascopy Bank SA
    "In the event of failure, we would expect the ECB to become more explicit on the timing of when ELA funding would be withdrawn or capped." - Deutsche Bank (based on MarketWatch) 

    Pair's Outlook 
    Eventually, the EUR/USD cross managed to gain bullish momentum and grow notably on Thursday, supported by a round level at 1.13. As a result, the most traded currency pair breached the closest resistance at 1.1379 (weekly PP) and went even further to the north. Despite that, a correction is likely to take place soon, being that there is only a little chance of the Euro going above a cluster of supply levels around 1.15. 

    Traders' Sentiment
    Bullish opened positions at the SWFX market continue to hover just below 50%, with as many as 48% of them registered in the morning on Friday, up one percentage point from a day earlier.
    © Dukascopy Bank SA

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