Hello koala king and folks.

Good day to you.

Angela Merkel, Chancellor of Germany on Monday with the Europe Union countries agreed on a new fiscal pact in Europe as an important step to solve the financial crisis. The Treaty on a proposal by Germany and France is set that member states are to adopt more stringent policies on their budgets. Twenty-five members of the Europe Union during a meeting in Brussels approved the plan. David Cameron, Prime Minister of Great Britain once again against his government and with the treaty and refused to accept it. Europe’s new monetary union treaty will be signed in the EU leaders meeting in March.

Unemployment in the euro area in December 2011 is the highest since the adoption of the euro single currency. The need for economic growth and job creation are some of the main issues discussed at the meeting of EU leaders on Monday.

Greece hopes to succeed in dealing with creditors to waive half of the demands however Greece still needs more international help. It is trying to implement austerity programs to convince lenders to lend 130 billion euros.

A stock market expert said that every month there is a new treaty or news of a new relief which can affect market transactions and results in probably some positive sentiments. However some time later, the problems are back again.

From a technical perspective: The EUR/USD is in a range of 170-180 Pips and uncertainty is evident in the euro currency. While the EUR/USD is above 1.2960, the main trend is bullish. If the currency pair’s daily candle close above 1.3230, the trend will continue and the target will be 1.3330.

Have a nice time.

Masoud.

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Masoud : EUR/USD Forex Forecast Midweek Review 1 Feb 12

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