Due to uncertainty concerning solving eurozone debt crisis Moody’s has reconsidered credit ratings of Germany, the Netherlands, and Luxemburg, having given them “negative prediction”. However, ratings have remained unchanged, at the point of ААА.
Germany is the main “supplier” of financial aid to Greece, which has de facto stopped the program of budget saving since the end of April 2012. “Greece is getting more likely to quit eurozone, and such occasion will certainly strike other members of the organization, Italy and Spain in particular,” mentions Moody’s press release.
Despite the reconsideration, “Germany will keep performing the function of stabilization pillar of eurozone. Germany and its partners will do their best to fight European debt crisis as soon as possible,” is stated by German Ministry of Finance.
According to the specialists of the System of Early Prediction of , at Forex market EURUSD is forming wave B at h1 timeframe. For the downtrend to continue impulse structure of the movement that started from h4 wave is to be maintained. When h1 wave B is over, price is likely to drop further; at this point 1.2002 is its closest target.
Analysis by: Alex von Stachelkopf, analyst of Forex EURUSD Department, trader of SRP Sub-department of Masterforex-V Academy
