The post of the IMF’s Managing Director won’t remain vacant for a long time after Strauss-Kahn’s resignation. According to most observers, Christine Laguarde, Minister of Economic Affairs, Finances and Industry of France, is the frontrunner. She has recently announced about her decision to run for the post of the IMF’s chief. Germany, France and Great Britain support her candidacy.
However Brazil, Russia, India, China and South Africa have another opinion on the matter. They refer to the promise given by Jean-Claude Juncker, President of the European Commission, during the same elections in 2007. He promised then that Dominique Strauss-Kahn would be the last European candidate running for the post of the IMF’s Managing Director. The BRICS’s statement says that it is time to reform the international financial institution in order to reflect the current role of the developing countries in the global economy. Moreover, the European domination seen in the elections of the IMF’s chief makes its legitimacy rather disputable.
FOREX. EURUSD has supposedly completed wave B H1 inside wave C H4. 1.3898 and 1.3792 will probably become the closest downward targets.
However, according to the ASF Sub-department under the Department of studying Masterforex-V trading system , the wave level increase of wave B H1 cannot still be completely excluded. In this case the formation of an upward momentum (wave C) inside the retracement will be quite logical.
To define the vector of the forthcoming movement we apply ASF elements and other binary patterns by MF.
