Yesterday the new Prime Minister of Portugal Pedro Manuel Mamede Passos Coelho made a speech in the Parliament on the ways to replenish the country’s budget.
He addressed the Portuguese to tell them about the current condition of the national budget, saying that it was time to levy an extra tax on numerous year-end bonuses. According to him, this step will make it possible to raise €800 million this year. This is going to be a one-short urgent action. Another step will mean an increase in the value added tax from 23% up to 25%.
The final austerity program will be introduced to the parliament in 2 weeks.
FOREX.
EURUSD has finished the formation of wave A H1 inside wave C H4. According to the SRP Sub-department under the Department of Masterforex-V TS, on updating the local high the price will initiate wave C H1. EURUSD may also continue wave B H1 in the form of a complex downward retracement. If wave C H4 isn’t completed, the next movement target will be 1.4652.
In order to determine the direction of the future movement we apply the SRP elements and other binary patterns by MF.
