Forex news. The summit of the heads of European Union countries in Brussels has not resulted in the agreement to introduce changes on tightening budget expenditures of member-countries into the agreement of the union.
A set of measures for EU has been blocked by Great Britain and Sweden , which do not use the common currency. Nevertheless, Berlin and Paris are intended to use any means in order to at least conclude a new agreement between 17 countries of Eurozone.
French President Nicolas Sarkozy has stated the following:
- “The decision is to be taken at exactly this point. The more we hesitate with it, the more expensive and the less effective it will be; if on Friday we do not conclude an agreement, we will not be granted another chance”.
- “Europe has never been… in such danger before, the risk of splitting has never been so high”.
- “...time works against us”.
German Chancellor Angela Merkel:
“We clearly understand that Euro can regain market trust only if we change the agreements of the union in order to turn EU into the union of stability”.
The only matter that the participants of the summit managed to agree on is the fact that Eurozone is in the great need of the mechanism for coordinating economic policy. Such mechanism has never been created before. The project claims: “There will be created a procedure, by means of which all major economic reforms, planned by the countries of Eurozone, will be discussed and coordinated on the level of Eurozone”.
At FOREX market EURUSD currency pair is within wave “В” of h4 level, where wave “С” of h1 level keeps forming. According to the System of Early Prediction Sub-department under the Department of Masterforex-V Trading System , its probable target lies at the point of 1.3243.
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.
