During the weekend the IMF held another annual meeting in Washington. During the meeting the participants approved another large-scale plan of overcoming the eurozone debt crisis. The plan implies increasing the EFSF from 440B euro up to 2 trillion euro and canceling 50% of Greece’s public debt.
Moreover, Christine Lagarde, Managing Director of the International Monetary Fund, and Evangelos Venizelos, Greek Finance Minister, discussed the terms under which the IMF mission would return to Athens to undertake the fifth review of Greece’s economic program.
FOREX.
According to the SRP Sub-department under the Department of Masterforex-V trading system , so far EURUSD hasn’t shown any signs of trend reversal. The reversal point of H1 is worked out, which means that the current downswing – wave C H1 – will probably be continued, thus reaching the 1.3273-1.3232 area.
To define the vector of the forthcoming movement we apply the SRP elements and other binary patterns by MF.
