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Tuesday, 13 October 18:58 (GMT -05:00)

Foreign exchange market

EURUSD: Heated Atmosphere

Forex news.
Spanish government is putting every effort to reduce expenditure budget, and it has been rather successful in doing so. To a great extent this is proved by preliminary results of European Commission about Spanish draft budget. The Commission has concluded that Madrid does not need help of Eurozone Stability Fund.
That is why when Italian Prime Minister Mario Monti claimed Madrid to be the source of new wave of European debt crisis, the head of Spanish government Mariano Rajoy strongly suggested choosing expressions when referring to his country. At the same time, he claimed about his hopes about European Union and ECB support in implementing reforms in Spain .

EURUSD currency pair continues wave "С" h1 up at FOREX market after its correctional wave level has risen. 1.3167-1.3181 range, according to the System of Early Prediction Sub-department of Masterforex-V Trading Academy, may be regarded the target of the uptrend.



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Text: Alex von Stachelkopf, trader of SRP Sub-department of Masterforex-V Trading Academy
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