Yuriy Ukazkin
Italy’s main trade union has called a strike. Thousands of people joined the strike, protesting against the economic steps taken by the Italian government. Italians keeps opposing the decision to reduce the budget by €70B. Moreover, the Italian authorities are considering another round of belt tightening (€45B).
While Italy is on strike, France (a stronger eurozone member) will be looking for opportunities to provide financial aid for Greece at the expense of spending cuts and tax hikes.
FOREX.
According to the Department of Masterforex-V trading system , EURUSD is still declining in mid-term perspective. The currency pair has already broken the defensive MF pivot - 1.4101. The experts say that once the price breaks below the bottom of the upward MF sloping channel (as shown below), EURUSD will get an opportunity to start a long-term downtrend. Otherwise the common Euro currency may resume its rally against the US Dollar. In this case the price will probably encounter resistance at 1.4245 and 1.4463.
Yuriy Ukazkin
