Tatsiana Ketrar
According to Olli Rehn, European Commissioner for Economic and Financial Affairs, the reforms conducted in the eurozone are expected to contribute to the growth of the union’s GDP by 3% by 2020.
He says Europe will do its best to boost the region’s economic growth due to the EU’s new directive over the service sector. The aim is to free the economic potential of the service market through eliminating legal and administrative barriers.
The reforms will concern other sectors as well: energy sector, intellectual property, taxation, labor market, pension system etc. It is also planned to invest more funds in science and innovation and to simplify the EU’s legal system. According to the Euro Commission, these measures will inevitably support the local business and contribute to the region’s economic growth.
Meanwhile, EURUSD keeps moving in the 1.3811 - 1.3421.range formed by wave A(C )/C H8. According to the Department of Masterforex-V Trading System , if the price breaks blow 1.3421, the closest levels of support will be found at 1.3405, (23,6% + 111,8% Fibonacci) and 1.3376 (111,8% Fibonacci). Otherwise, the price will probably form a shortened wave C. A rally and a break above the MF sloping channel 1.3613/1.3811 will give way to a mid-term trend reversal. The scenario will be confirmed once the price breaks the MF pivot 1.3522.
Tatsiana Ketrar
