The European Central Bank (ECB) expresses concerns over the conditions under which Ireland is to get the financial aid from the EU and the IMF.
The ECB members believe that saving Ireland may seriously restrain the bank’s ability to help other Euro zone countries. According to the Organization for Economic Co-operation and Development (OECD), Spain may face another budget crisis.
In the meantime the EURUSD trend continues. The price has stopped at the 76.4% correction level against the 1.2968-1.3497 bullish wave and is currently forming “the Moment of Truth by MF” inside the 1.3358-1.3094 flat of wave a(C ).
According to the Department of studying Masterforex-V trading system , the mentioned wave a(C ) will be canceled once the MF pivot at 1.3268 and the MF sloping channel are overcome. In this case the price will start wave B. If the MF pivot at 1.3480 fails to restrain the bullish movement it will mean the formation of wave a(C )/C of the senior timeframe.
News (GMT):
09.30 UK - Public Sector Net Borrowing
12.00 Canada - Core CPI, CPI
13.30 Canada - Retail Sales
Support/Resistance levels:
1.3344 - 61.8% А
1.3296 - 50% А
1.3258 - 61.8% а(С) + MF pivot
1.3226 - 50% а(С)
1.3139 – the current price
1.3031 - 123.6% а(С) + 88.2% А
1.2968 - Weekly FZR
1.2930 - 161.8% а(С)
1.2862 - 200% А
