Alex von Stachelkopf
Forex news. Yesterday a three-sided meeting of French President Nikolas Sarkozy, German Chancellor Angela Merkel, and Italian Prime Minister Mario Monti was held in Strasbourg. As a result of negotiations, it has been agreed to bring in suggestions on altering the fundamental agreements of EU during the December summit of European Union.
Among other steps, there is going to be introduced the system of automatic punishment for breakers of the Stability and Growth Pact. Nikolas Sarkozy admitted that suggestions will be formed during next several days: “We have moved forward a lot in this matter”. As a part of negotiations, Mario Monti has assured his Eurozone partners that Italy will have a balanced budget already in 2013, as previously planned. And his partners believed.
Particular attention is to be paid to another demonstration of negative attitude of Angela Merkel to issuing common European bonds. She supposes that there has not set the right conditions for issuing European bonds. Before this happens, “the existing structural weaknesses of the currency union are to be solved step by step; in the first rate, this concerns the absence of political union”.
EURUSD currency pair is likely to continue wave “С” of h1 level at FOREX market as soon as the correctional wave level rises within it. In this case, 1.3201 and 1.3152 will serve as major targets.
According to the System of Early Prediction Sub-department under the Department of Masterforex-V Trading System , another variant of movement, which is still likely to happen, involves forming a hidden down wave “В” of m15 level, which will be correctional to wave “A” of this timeframe, which was formed on Thursday. This scenario will be realized at the bounce of the ML (Main Line) from RS line (Resistance/Support) of AO Zotik indicator at h1 timeframe.
The System of Early Prediction Sub-department under the Department of Masterforex-V Trading System will signal about the change of the situation or the direction of trend.
Alex von Stachelkopf
