As the world economic community keeps expressing concerns over the eurozone’s destiny, some Nobel Prize laureates in economics say there is no need to panic as the common European currency is safe. According to them, the eurozone’s problems are temporary.
It should be noted that the fears of the disintegration of the eurozone (according to the USSR scenario) look fairly reasonable at first sight. More and more countries of the eurozone find themselves on the verge of default. Moreover, they fail to implement austerity programs, which lead to new loans. It is obvious that the entire eurozone won’t be able to exist for a long time just at the expense of 2-3 donors. So, urgent and efficient solutions are needed.
According to the Department of Masterforex-V trading system , by now EURUSD is being traded in the 1.4939-1.3836 range. If there is another rally, the price may encounter resistance at 1.5150 (MF pivot). A break below the defensive sloping channel will probably reverse the trend. The reversal will be confirmed once the price breaks below 1.2874.
