Ivan Zhigalov
Today at 14.30 GMT the US President Barack Obama is to reveal his budget deficit reduction plan, which is expected to include Warren Buffet’s offer and is said to reduce the deficit by 3 trillion dollars.
It was Warren Buffet who offered to increase the tax burden for the rich Americans whose annual income exceeds 1 million dollars. Moreover, the recent summit of EU minfins in Poland failed to show any certainty and unity concerning the eurozone debt issue. It may well cause another downswing of the common Euro currency against the US Dollar.
FOREX.
According to the SRP Sub-department under the Department of Masterforex-V trading system , EURUSD has just completed an upswing - wave C H1. A downward reversal point of h1 is already formed as well.
The further succession of events will be determined by the reaction (intersection or rebound) to the main line and the S/R line of the AO_Zotik indicator on h4.
The “intersection” scenario implies the formation of a downswing (wave C h4)while the “rebound” scenario implies a more complex upward retracement of h4.
To anticipate the future scenario it is necessary to monitor the end/elongation of wave C inside the downswing on H4 and m15.
To define the vector of the forthcoming movement we apply the SRP elements and other binary patterns by MF.
Ivan Zhigalov
