Market Leader informed
On Monday EURUSD opened the trading week with a gap against the background of the EU providing Ireland with financial aid.
Ireland’s official request for help made Euro gain in value against US dollar. However, the debt problems of Portugal and Spain made investors get rid of the Euro currency, making the EURUSD rate decline.
Another event pressing Euro is the proposal introduced by Green Party (Ireland) to hold general election in January, which has underlined political uncertainty in Ireland. Moreover, Moody’s service has recently announced a possible decline in Ireland’s sovereign rating AA2, which is currently being reconsidered. Moody’s experts say that the financial aid will increase the debt load, worsening Ireland’s credit rating.
After such announcements Euro failed to stand its ground and started a downtrend.
According to experts from the Department of studying Masterforex-V trading system , EURUSD retains the possibility of a further decline within the scope of wave C of level D1. Getting over the MF pivot at 1.3630 will indicate the alternative scenario (wave C on H4).
Today’s news may introduce changes:
09.00GMT - Eurozone news
09.30GMT - BBA Mortgage Approvals (GB)
16:30GMT - GDP revised and Prelim GDP Price Index (USA)
Levels of support and resistance:
* 1.4281 АD3 BASE
* 1.4184 88,2% D3
* 1.4085 76.4% D3
* 1.3963 61,8% D3
1.3571 the current price
* 1.3528 76.4% Н4
* 1.3488 88.2% Н4
* 1.3446 А D1/D3 PEAK
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