Despite the financial aid that Greece got from the EU and IMF in spring 2010 and despite all the austerity measures, numerous economists and analysts are concerned about the future of Greece.
Investors are suspicious about the perspectives of the Greek economy. The Greek bond yield is very high. The long-term debt market is still unavailable (one of the reasons is that in March numerous rating agencies lowered the credit ratings of Greece). As a result, the external debt is currently being serviced mainly at the expense of last year’s financial aid.
According to the Greek Ministry of Finance, today Greece will try to place its short-term Treasury bills to the sum of 1.25B euro with the payback period of 26 weeks. In essence, it is some kind of a market test aimed at finding an opportunity to borrow long-term loans.
FOREX. As it was expected by the Sub-department of Anticipatory Forecasting under the Department of studying Masterforex-V trading system , EURUSD has just started a full-grown correction of H1, with sub-wave C being formed at the moment.
A breakout of the SR (support-resistance) line or a rebound of the AO-Zotik indicator from its ML (main line) on the H4 timeframe will show the possible future scenarios, i.e. either the formation of the RP (reversal point) of H4 with further workout and H4 correction or the continuation of the mid-term uptrend.
These scenarios should be followed and corrected on the smaller-scale timeframes with the help of the AFS and other binary patterns by MF.
