Forex news.
As the summit of European Union, which is supposed to start on January 30, approaches, the leaders of leading counties of Eurozone do their best to make the coming forum successful and productive.
This week has started with a meeting of German Chancellor Angela Merkel and French President Nicolas Sarkozy in Berlin, during which the parties were trying to bring their positions closer and synchronize their actions, which are aimed at promoting such stabilization measures as imposition of tax on financial transactions and signing an agreement about tighter budget discipline.
Berlin has also been visited by Mario Monti, Prime Minister of Italy, the third largest country in Eurozone according to gross output. As a result of the meeting, Angela Merkel was giving praise to Italians: “Speaking about anti-crisis measures, they will certainly make Italy stronger and its economic perspectives better. We bear deep respect to how quickly these measures are implemented”.
Yesterday in Paris Nicolas Sarkozy held negotiations with the Head of International Monetary Fund Christine Lagarde. The topic of discussion has obviously been the ways to fight European debt crisis and problems of world economy in general. However, no details have been informed of.
From technical point of view, at FOREX market EURUSD currency pair keeps forming wave “В” as a part of correction within h1-h4 wave level. At this point its further movement is expected to be represented either by rising wave “C” or setting new minimal point by fifth sub-wave.
According to the System of Early Prediction Sub-department at of Trading, passing Sloping Axis and sloping channel of correction (SCC) will signal about the implementation of the first scenario.
