The EUR/USD pair failed its attempt to fill in its today’s bearish gap and returned back in the area of 1.1900 level. Recent weakness of the common currency is mainly attributed to the disappointing victory of A.Merkel’s Conservative Party, which failed to gain the majority of seats in the Bundestag. So now, Mrs. Merkel’s CDU/CSU bloc will have to form a coalition that is viewed by the markets as a probable source of political uncertainty, thereby weighing the euro. Moreover, the greenback continues to keep its positive tone across the market on the back of easing US-N.Korea conflict that is also adding some pressure on the major currency pair at the start of this working week. Today the main event for the pair will remain ECB President M.Draghi’s testimony before the ECON Committee in Brussels, which will be able to shed some light on further ECB monetary policy developments, while the US calendar will remain broadly silent today, leaving the pair at the mercy of global market sentiments.
The NZD/USD pair remains under pressure at the start of this week amid uncertainty, backed by New Zealand’s election. Today the Kiwi came under bearish control, breaking the resistance of 0.7300, as markets are digesting the outcome of New Zealand’s election, which showed that the ruling National Party won the majority of votes, however, it was not enough to form a government. Therefore, the NZ PM B.English will have to form a coalition, which in turn is weighing on the NZ dollar. Moreover, positive sentiments around the greenback on the back of increased expectations of another Fed rate hike this year also are weighing the pair. Today we have relatively empty data calendar, so broad market sentiments will continue to play the main role in determining pair’s trajectory throughout this session, while next important event for the pair remains RBNZ meeting, which will denote further divergence between monetary policies of the regulators.
The dollar/yen pair caught fresh bids during the Asian session and reached the level of 112.50, but could not hold its positions and fell back to the region of 112. Ongoing positive tone of the US dollar and increased risk appetite amid lack of any news about Korean peninsula remain supportive for the pair on Monday. Moreover, the pair received additional bullish impetus today after dovish talks of Japan’s PM S.Abe, who suggested to expand existing QE program. However, the pair managed to correct lower after BoJ Governor H.Kuroda during his speech noted, that the Japanese economy continues to demonstrate moderate recovery pace. Looking ahead, today nothing noteworthy is scheduled in macroeconomic data calendar, so further pair’s actions will mostly depend on broad market trend and the US dollar price dynamics.
The GBP/USD pair trades with a positive bias at the start of this week, keeping positions near its today’s tops, marked in the vicinity of 1.3550 level. The latest upmove of the major is mainly driven by the recovery of the pound after its Friday’s drawdown, backed by uninformative speech of UK PM T.May, which failed to provide any details regarding the Brexit process. However, further upside looks unlikely, as the greenback continues to trade in a positive mood against its major peers, exerting some pressure on the pair on Monday. Today nothing much is scheduled economic data calendar, so widespread market moods will remain as a key driving factor for the pair throughout this trading session.
The main events of the day:
ECB President M.Draghi’s Speech – 16.00 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1890 R. 1.2032
USDJPY S. 111.16 R. 112.96
GBPUSD S. 1.3363 R. 1.3657
USDCHF S. 0.9648 R. 0.9730
AUDUSD S. 0.7873 R. 0.8029
NZDUSD S. 0.7254 R. 0.7380
USDCAD S. 1.2213 R. 1.2413
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One Click Trading is a very important and useful tool developed on the basis of Level2 application. One Click Trading makes it very easy to monitor the markets and react to the market changes on time. One click is enough to catch the best price and make a beneficial trade.
To install OCTL2P you should download setup file to your computer and run it to start the installation. Click Next in the installation dialog box. Before installing OCTL2P we suggest you close all running applications including MT4 terminals.
Read the license agreement, select the check box I accept the agreement and click Next to proceed.
Indicate directory where you previously installed MetaTrader 4. To start the installation click Install.
When the installation process is finished, the Next button will be activated.
Click Finish to close the installation dialog box. Activate Launch MT terminal option if you want MT4 launched after you click Finish.
Before you activate OCTL2P, please, check the settings: launch the MT4 trading platform, from main menu choose Tools → Options, in the opened window select the Expert Advisors tab and switch on the Allow automated trading and Allow DLL imports options and click OK.
To activate the Expert Advisor in the Navigator window, click Expert Advisors. Installed EA should be seen in the list. Double-click on OneClickTradingLevel2 or simply drag and drop it onto the chart. Click OK.
If the EA is activated successfully, a smiley will be seen in the top right corner of the chart.
Metatrader 4 is a modern and easy-to-use trading platform for online trading. It ensures round-the-clock access to financial markets and market information as well as quick order execution. With Metatrader 4 traders may take advantage of using Expert Advisors, Indicators and develop their own trading strategies.
To install Trading platform ForexEE MT4 you should download setup file to your computer and run it to start the installation. Click Next in the installation dialog box.
Read the license agreement, select the check box Yes, I agree with all terms of this license agreement and click Next to proceed.
Please indicate installation directory for MetaTrader4 and choose name for Start Menu folder Start → All Programs. We recommend using the default installation settings. Also select a relative check box if you want to Create a desktop shortcut, Оpen MQL5.community website or Launch program after successful installation. Click Next.
Now the program is downloading all necessary files from our server and installing them on your PC. Click Finish when installation is complete. Congratulations! MT4 has been successfully installed on your computer.