Greece badly needs money. Time is running out. If there no more tranche of help, the available means will not be enough to service the national debt and to pay out wages and pensions, which basically is a default.
The difficulty is the fact that it is extremely difficult to reduce the budget deficit to the extent, which is required by the creditors “trio”, which consists of EU, IMF, and ECB. Sunday evening during the special government session it turned out that according to the results of 2011 the budget deficit amounted to 8.5% from GDP, instead of planned 7.6%. Forecast for 2012 also worsened.
Were these circumstances the reason of a gap in EURUSD pair at the opening of today’s trading?
Forex news
EURUSD currency pair maintains downward motion of d1 level wave “C” at FOREX market. Point 1.3092 is the next logical target of the wave. H4 level algorithm “ABC” with intricate wave “B” can be clearly noticed within the wave. It is followed by the start of wave “C” of the same wave level; point 1.3041 is the possible target of the wave. Wave “A” can be found within, in h1 timeframe. According to the specialists of the System of Early Prediction (SRP) Sub-Department under the Department of Masterforex-V Trading System , the wave is unfinished, although TP (Turning Point) has already gone beyond the lower level. The end of h1 level wave “A” and wave “B” structure are to be traced, as well as whether the impulse character of downward motion in this timeframe remains.
SRP Sub-Department under the Department of Masterforex-V Trading System will signal about the change of the situation or of predicted motion direction.
