FOREX NEWS.
Yesterday, The President of Russia Dmitry Medvedev and Angela Merkel, the Chancellor of Germany, discussed a number of urgent problems on the phone, including the current situation in North Africa and the Middle East. They agreed to continue the discussion during the forthcoming G8 summit, which is to take place in France next month.
By now Germany has the highest credit ratings, and that is why experts do not question it is economic and political stability.
The main reason is the mechanism of external debt reduction, which does bring positive results.
Unlike Germany, the US does almost nothing to reduce the sovereign debt. On Monday, when Standard&Poor’s just warned the USA that its credit rating might be decreased, the demand for the German bonds increased dramatically. As a result, the 10-year German pension bond rate declined from 3,4% down to 3,232%. Germany is Europe’s biggest bond emitter.
FOREX. As for the common Euro currency, on Tuesday EURUSD completed the previous bearish movement of level h1.
At the moment the currency pair keeps developing the ABC pattern of M15. According to the Sub-department of Anticipatory Forecasting under the Department of studying Masterforex-V trading system , the pattern may turn either into wave B of H1 (if the wave level is increased) or into the 1st wave along the mid-term uptrend.
The 1st variant will be supported by the growing potential of the RP (reversal point) workout of H4 while the 2nd one will be confirmed by the intersection of the SP (starting point) of wave "А" h1 shown by the “АО_Zotik” Indicator.
Consequently, the question about the destination of the forthcoming intraday movement will be determined by the small-scale timeframes, which should be monitored in concordance with the AFS signals together with other binary patterns developed by MF.
