Forex news.
Negotiations of Finance Ministers of euro zone on the matter of “final” approval of Greek support package to Greek has lasted for over 12 hours. By 7 a.m. Moscow time the decision has been made. The second, 130 billion euro, support package has been assigned to the country. Greek Prime Minister Lucas Papademos has called this occasion “historic”.
The official report on the results of negotiations will appear later, but it is known that the major stumbling block was doubt whether the country will manage to reduce the national debt from current 160% GDP to 120% by 2020. The first tranche, which will enable Greece to resist default in March, will amount to 13 billion euro.
As for common European currency, as soon as positive information appeared, it immediately rose by 100 points against US dollar to the point of 1.3293.
Technically, at FOREX market EURUSD currency pair has finished working on rising TP (Turning Point) of h1 level. At present, according to the specialists of the System of Early Prediction within Masterforex-V Trading Academy, wave “B” of the same wave level may be formed, which will in its turn give the ground to the formation of wave “B” of lower timeframe as a part of it.
It is remarkable that the rising trend finished along the Sloping Axis of higher wave level.
