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Masoud : EUR/USD Forex Forecast Midweek Review 15 Feb 12

Hello koala king and folks.

Good day to you.

GDP growth in Japan in the fourth quarter last year unexpectedly declined 0.6 percent. High value of its currency, the floods in Thailand, weak exports and the natural disasters in this country in March probably contributed to Japan’s weak economic growth in the final quarter of last year.

Barack Obama, President of America unveiled the plan for next fiscal year’s budget on Monday. He was reported as saying that for the first time since the nineties, companies are creating jobs in America. Economy is growing and there is a high recovery rate. The last thing in this situation is to go back to the policies that brought America to a mess in the first place. In the budget plan, America’s economic growth is expected to be 2.7 percent in 2012 and in 2013 will climb to three percent.

The Spanish government seems to delay austerity measures and will probably make no attempt to deal with the deficit as elections are due next month. Spain’s credit rating was cut by Moody’s Credit Rating Agency.

Europe Union leaders were in Beijing, capital of China to discuss with Chinese leaders on Europe’s debt crisis. The head of the Europe Union and Chairman of Europe discussed on Wednesday with the Prime Minister of China about China’s financial assistance to alleviate the financial crisis in Europe. Europe hopes from China a special trust fund to help European governments.

Moody’s ratings agency said the debt crisis in Europe and lack of clear economic plan for resolving the problems, causes various countries to have a low credit rating. The validation of the credit outlook for Great Britain, France and Austria has been warned.



From a technical perspective: The main concern of the market is the debt crisis in Europe. In the above picture you can see better what happened after the EUR/USD break the trend line in H4 time frame. 

Have a nice time.

Masoud.

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