It is obvious that the EU will not let Greece go bankrupt.
However, there won’t be any positive results. On the contrary, the “domino effect” is possible in the EU, not to mention that Greece won’t ever be able to pay back all its debts. Numerous countries are getting more worried. For example, Norway (which is not a EU member and doesn’t take part in the bailout of Greece) used to sponsor numerous environmental and healthcare projects in Greece. However the Norwegian authorities have recently put an end to this sponsorship because of numerous violations done by the Greek side and are not going to resume it until Greece provides all the necessary documents confirming that the funds have been used according to the intended purpose. Iceland and Liechtenstein are said to have just made the same decision.
The reasons are clear: last year Greece failed to fulfill the austerity obligations after receiving billion of euro as financial aid. It became clear that it would need more aid. For about a month the global community has been waiting for the IMF and the EU authorities to sign all the necessary documents in order to reduce the interest rates for the loans lent by Greece.
FOREX. The common Euro currency is relatively calm as there is no significant news.
EURUSD keeps developing wave C inside the ABC pattern of H1.
According to the AFS Sub-department under the Department of studying Masterforex-V trading system , the expected movement targets are 1.4354 and 1.4445.
To define the vector of the forthcoming movement we apply the elements of the Anticipatory Forecasting System and other binary patterns by MF.
