Helena Izotova
Forex news
On Sunday evening at least three significant events happened in Italy. They have concluded the recent political unrest in the country.
* Translation of Silvio Berlusconi’s speech from Palazzo Chigi. “Italy is the country I love, my roots are here, my hopes, and my future. ... I am resigning on my own, and it has to be so. The new Premier is good for us, and we will vote for him,” these were the exact words of the former Premier when President Giorgio Napolitano had not yet announced the decision.
* The speech of the Secretary of State with a short communique that the President has issued a mandate for the senator-for-life Mario Monti to form new government.
* Statement of Mario Monti. Short, to the point, and no posing: “I think I will deal with the new Cabinet of Ministers with no hesitation.”
Thus:
- Berlusconi’s resignation does not seem to be final, and Monti yet has to be approved by the Parliament,
- Monti’s appointment looks more like a technical moment rather than triumphant accession,
- European Union, USA, IMF, and stock exchanges worldwide are pleased.
Technically, EURUSD currency pair is targeting at wave “C” of intricate correction h1 at FOREX market. According to the specialists of the System of Early Prediction Sub-department under the Department of Masterforex-V Trading System , the range 1.3870-1.3901 will be the target of the price motion, provided that there are no signals about the wave termination. After this, there can be a downswing to wave “С” of upper wave level.
The System of Early Prediction Sub-department under the Department of Masterforex-V Trading System will signal about the change of the situation or the direction of trend.
Helena Izotova
