Tatiana Kashyrskaia
During the weekend Angela Merkel and Nikolas Sarkozy met in Berlin to discuss the eurozone problem. After the meeting they arranged a joint press conference. They said they had reached a compromise on strengthening the EU's unstable banking sector and had worked out 2 alternative solutions for the eurozone debt crisis.
According to Angela Merkel, the first scenario implies that France and Germany "are determined to do the necessary to ensure the recapitalization of Europe's banks." At the same time Nikolas Sarkozy said Europe will have resolved its problems before November’s G20 meeting in Cannes starts. The second scenario implies more serious and faster integration and economic coordination within the EU as the EU’s contractual base needs multiple changes.
FOREX.
According to the SRP Sub-department under the Department of Masterforex-V trading system , EURUSD has formed a downward reversal point (RP) of level H1. Once it is broken the downward wave C H1 will be completed. In this case the downswing will become at least an increase in the wave level.
If the main line (ML) and the SR line (support/resistance line) of the AO_Zotik indicator is broken without an RP workout, the mentioned wave C H1 may be extended down to the 1.3601-1.3629 area.
To define the vector of the forthcoming movement we apply the SRP elements and other binary patterns by MF.
Tatiana Kashyrskaia
