Yuriy Ukazkin
Forex news, euro rate. Belgium is the first country of euro zone that has acknowledged its recession during the second half of the previous year. Preliminary data of Central Bank shows that during the third quarter of the previous year GDP has dropped by 0.2 percent and kept falling by 0.1 percent during the last one.
Weak figures of Belgian economy prove that there is a threat of recession within entire euro zone. Recession is generally defined as a situation when economy is declining for at least two quarters in a row. Analysts suppose that this year it will become a burning issue for entire euro zone.
The flow of Belgian economy well shows what may later happen to the European Union. Many countries of Western Europe have been very close to recession, as countries mostly face recession due to negative consequences of harsh austerity means.
GDP of Belgium:
What will happen to euro rate? According to the analysts of Masterforex-V Academy, bullish trend will continue:
ТО 1.3024
а(С)/С n4 1.3217
Bullish NK 1.2624/1.3024
- Rising с(С) n4
- Falling FZR sequence
Short-term
- MSF 1.3024 - 1.3217 (1.3217-1.3144)
Yuriy Ukazkin
