Forex news.
The weather in the sea of European economic news is characterized by no sea for several days already. Such tranquility is not likely to last long, as the problems of euro zone are far from being resolved. If the burning issue of Greece managed to ease, than larger economy of Spain triggers even more concern. If in this case the scenario repeats – many experts suppose that common European currency will collapse.
Yesterday the Head of Spanish Central Bank Miguel Angel Ordonez stated that if the recessive condition of the country’s economy remains, commercial banks will face default, unless they are provided with additional liquidity.
Another alarming signal came from France – there is no economic growth. It does not mean recession, but there exists a potential threat.
At FOREX market EURUSD currency pair is within correction to the previously formed wave h1 up. As soon as correctional trend is over there may be expected a rise to wave "С", whose targets, according to the System of Early Prediction Sub-department of Masterforex-V Trading Academy, may include points 1.3119 and 1.3159.
