Having extinguishing the fire of the European debt crisis, EU leaders got down to internal affairs. In particular, the President of France Nicolas Sarkozy said during a TV interview that France’s budget would lack €6B as the GDP would grow only by 1% instead of 2% expected previously.
As for the results of the latest EU summit, Mr. Sarkozy said that neither him nor Angela Merkel were in office when Greece entered the eurozone. According to the French President, Greece’s adoption of the common Euro currency “was a mistake” because “its economy was not ready”.
At the same time, German and French stock markets were positive about the results of the Euro summit, thus gaining 5%. The banking sector was the frontrunner. European bank stocks gained 8-22%. The common European currency managed to gain 400 points against the US Dollar.
FOREX.
According the SRP Sub-department under the Department of Masterforex-V trading system , EURUSD keeps forming the bullish wave C H4. At the moment it is developing wave C H1 inside the H4 upswing. If there are no signs of its completion, the following levels will act as potential targets: 1.4289 and the 1.4404-1.4431 area.
To define the vector of the forthcoming movement we apply the SRP elements and other binary patterns by MF.
