On Sunday the Irish government held an emergency session where they decided to ask the EU and the IMF for financial aid.
However, to get the aid the Irish government will have to develop measures to reduce the budgetary spending.
The EUR currency rate at Forex indicates bullish sentiments. According to the Department of studying Masterofrex-V TS, the price has already formed wave a(C )/shortened C. If there is a breakout of the MF pivot at 1.3662 with coming out of the MF sloping channel the wave started at 1.3446 will be terminated. Otherwise EURUSD will continue its upward movement through wave c(C ).
News (GMT):
13:30 US - Chicago Fed Nat Activity Index
15:00 EU - EC Flash Consumer Sentiment
16:00 EU - ECB President Jean-Claude Trichet Delivers Annual Report
19:30 US - Federal Reserve Bank of Minneapolis President Kocherlakota speaks to the Sioux Falls Rotary Club
Levels of Support/Resistance:
1.4018 - 250% а(С) + 200% А
1.3903 - 176.4% а(С) + 161.8% А
1.3844 - 138.2% а(С) + 138.2% А
1.3742 – the current price
1.3708 - 50% а(С)
1.3667 - 76.4% + pivot
1.3656 - 38.2% А
1.3617 -50% А
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