Photo: Проект бюджета Евросоюза, предложенный на февральском саммите ЕС, был отклонен
The EU draft budget offered during February’s EU summit was denied during yesterday’s session of the European Parliament. The major reason for that is believed to be the lack of finances allocated for economic growth, innovation and scientific research because the draft budget implies austerity.
According to Martin Shultz, President of the European Parliament, the funds allocated by the Council correspond to the 2005 budget. Obviously, it will be impossible to resolve those problems that the EU will face over the next 7 years if the budget will correspond to the one we saw in 2005.
Therefore, we should expected decisions aimed at finding a compromise over the next 2 weeks. The first step will probably concern the Euro Group’s amendments to the existing draft budget.
Forex.
Meanwhile, EURUSD keeps complicating the correctional price move of level H1-H4. The chart below, courtesy of , reflects the current state of affairs in the market of EURUSD. At this point, the closest levels of support or a possible downswing are 1.2895 and 1.2806. However, if the 1.2928-1.2902 range stays unbroken along with confirmation signs form the АО_Zotik indicator, we may see further recovery with targets around 1.3027 and 1.3090.
Alex von Stachelkopf, аналитик отдела "Форекс, курс евро", трейдер кафедры СРП Академии трейдинга Masterforex-V
