Dmitri Lysenko
Forex news, Euro rate. Judging from the statement of the Chairman of the Eurozone group of finance ministers Jean-Claude Juncker to German radio NDR, 2012 is going to become a turning point for European currency. The end of the year will show which of the taken decisions will have brought the set aims closer.
According to the Prime Minister of Luxembourg, returning to payments in drachmas is not a way to solve debt problems of Greece, and the country does not necessarily have to quit the monetary union for this purpose.
Leaders of European countries have agreed to adopt the second financial aid package for the country; details are yet to be worked on. Juncker has informed that this is going to happen in the nearest future, as soon as negotiations between Greek government and private creditors about debt remission are over.
Euro rate is traded within the flat zone of 5th sub-wave/sub-wave A of Daily wave level. According to the experts of the Department of Masterforex-V Trading System , FZR at the point of 1.2857 is needed in order to quit the flat and continue bearish trend. This level represents strong support. The next strong support and further falling trend is in the range of 1.2727/1.2722. If rising trend continues, passing sloping channel MF 1.3548/1.3458 and pivot MF will signal about the change of the mid-term trend.
Dmitri Lysenko
