Forex news. Financing the enhanced EFSF remains a burning issue for Europe. On the one hand, China claims to be ready to invest. On the other hand, it will require significant compensation for such help.
In order to receive money inflow from China, European government will have to change its policy correspondingly. These changes are not going to be minor. Russia has also suggested its help to the Eurozone in solving the existing debt problems. This was announced during the briefing by the RF presidential advisor Arkadiy Dvorkovich. He made it clear that Moscow is ready to invest in European economy about 7 bln. Euro. However, such help is not likely to change the situation drastically, for Europe needs at least 1 trn. dollars.
The crisis has so far influenced only the governmental sector, leaving the bank sector aside. This will predetermine the stabilization of the situation in Europe in the nearest future.
According to the experts of Masterforex-V Trading System , Euro rate is forming a descending wave of upper timeframe. Points 1.3566 and 1.3405, as well as passing pivot MF 1.3658, form its nearest support. Provided that the upward motion lasts, pivot MF 1.4243 is passed, and bullish FZR is formed at the point of 1.4246, the nearest significant resistance will be provided by points 1.4382 and 1.4506.
