Market Leader reports that EU leaders held an unofficial summit in Malta last week. One of the key issues on the agenda touched upon the ways and means to overcome the migration crisis in Europe.
As the result of this summit, the participants agreed to spare some 200 million euros to deter the inflow of illegal migrants from Libya through the Mediterranean Sea. In particular, the EU is going to help Malta to patrol the borders and regulate the refugee camps located in Malta. As you can see now the migration crisis has become a major problem for Malta, which is the only European country that signed a migration agreement with the USA. Still, this agreement was canceled by Donald Tramp shortly after he moved to the White House as the new president of the United States. According to the recent UN report, 455 refugees staying in Malta managed to start a new life in the USA in 2016.
At the same time, the EU leaders participating in the summit do not expect the migration crisis to be resolved in the near future since summits are not enough to resolve such problems. Serious actions are required anyway.
FOREX
In the meantime, the SRP (AO_Zotik and WPR_VSmark) Department of Masterforex-V Academy reports that EUR/USD is forming a retracement move of level Daily against the previous downtrend. At this point, the H4 chart indicates an ABC pattern, with wave C aiming at 1.0882 and 1.1043.
