Tatiana Dementieva
The eurozone crisis keeps having a negative impact on the weakened and vulnerable US economy, which eventually may cause a recession.
The analysts of the Federal Reserve Bank of San Francisco say there is a more-than-50% probability of a recession and it will remain high during the first half of 2012.
Despite multiple reforms in Italy and Greece, the eurozone crisis is far from being over. It still may infect the US.
In the meantime, the US Dollar index keeps implementing the bullish scenario offered on Nov 15th 2011. According to the Department of Masterforex-V Trading System , it is forming a long-term upswing – wave A/B. The mid-term upswing - wave A(C ) or shortened C – is completed. If there is an upward FZR at 78.61, it will initiate wave C(C ). In this case the price will encounter resistance at 79.98 (the MF pivot) and 80.43 (the local high). The rally will be over once there is wave A, which breaks below the MF pivot 76.93 and the MF sloping channel.
Tatiana Dementieva
