Today, on May 14th, the common Euro currency is trading around 1,3720 after Bundesbank reported that it is going to support the economic stimuli, which are expected to be started in the eurozone by the ECB in June.
On Tuesday, May 13th, the representatives of the EU and Ukraine signed a memorandum on mutual understanding along with a credit agreement to the amount of 1bn euros. Europe will also be capable of providing Ukraine with an emergency tranche equal to 355 million euros in the near future.
The press service of Market Leader reports that the entire package of financial aid (estimated at 1 billion euros) will be given to Ukraine for 15 years. The agreement was signed in Brussels.
The 1bn package will come in two tranches 500 million euros each according to the terms and conditions of the signe memorandum. The first tranche will come after the credit agreement takes effect. The second part will come after monitoring and estimating the preliminary results of the EU's macro-financial aid.
The agreement will take effect after the European Commission gets an official request from the Ukrainian Ministry of Justice.
This financial package is a part of a bigger-scale financial aid estimated at 11 billion euros. This program is aimed at backing financial end economic stability in Ukraine.
EURUSD
Today, on May 14th, the Euro is trading 0,17% higher against the US Dollar after the price hit a 5-week low at 1,3688. According to Masterforex-V Academy experts, the H4 chart of EURUSD shows that the mid-term uptrend is still underway and the retracement against is probably completed around the local low 1,3688. The mid-term rally is not over until the price is above the MF sloping channel (marked blue).
The retracement below the red-line sloping channel is probably completed since the was a break and a move to the other side. A further rally is likely to reach 1,3774.
Alternatively, a bearish scenario will manifest itself if the price goes below the local low at 1,3688 coupled with a break below the blue-line sloping channel. If thi is the case, the mid-term tendency will be reversed to turn into a bearish trend.
