09 10 12:10
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Daily economic digest from Forex.ee

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The EUR/USD pair shows subdued dynamics at the first working day of this week, however, remaining under mild pressure on the back of attempts of the US dollar to recover after Friday’s disappointment. At the end of the last week, the pair received strong bullish impetus after the US published weak NFP numbers, which strongly weighed on the greenback across the market. Moreover, escalation of the conflict between North Korea and the US, as indicated by recent news headlines, saying that North Korea is planning to test a ballistic missile, which is capable to reach continental part of the US, supports euro’s status of funding currency. Today the EU data calendar will bring only secondary data reports, which most likely won’t trigger any sharp moves of the pair, while the US market will remain closed today due to national holiday celebration, so broad market trend will remain the key driving factor for the pair on Monday.

 

The GBP/USD pair looks positive today, extending recovery from its monthly lows, marked on Friday at 1.3027 spot, and stepping above the level of 1.31. On Friday, the pair received strong bullish impetus after the US published weak data from its labor market, which allowed the pair to gain almost a cent since previous session lows. Moreover, the pound benefits today from recent talks that the UK PM T.May is planning to urge the UK and EU to show more flexibility during Brexit negotiations. However, prevalent demand for safety across the market in wake of renewed geopolitical tensions surrounding the US and North Korea may limit pair’s further recovery path, as risk-off sentiments exert negative pressure on the higher-yielding pound. Today both economic calendars will remain silent, leaving the pair at the mercy of broad market trend, while any development from the UK political field will be able to spark some volatility in the day ahead.

 

The NZD/USD pair attempts to recover after today’s bearish opening gap, while weaker Kiwi limits pair’s further upside. Today the pair opened in the region of its 4-month lows, marked on the level of 0.7057, as political jitters surrounding the NZ are exerting pressure on the Kiwi. The final vote count on general parliament election in the NZ over the weekend failed to identify a clear winner, which leaves some uncertainty regarding further New Zealand’s political scenario. Adding to this, downbeat Chinese services PMI release, seen earlier this morning, and renewed risks surrounding North Korea also negatively affect higher-yielding NZD, limiting pair’s chances on further recovery. However, ongoing weakness of the US dollar, following red numbers of the NFP report, allowed the pair to recover some pips in Asia and to consolidate its positions near the level of 0.7070. Looking ahead, today nothing noteworthy is scheduled in data calendar for this Monday, so the pair will continue to trace the US dollar price action to determine its further trajectory.

 

The USD/JPY pair continues to stay under bearish control at the start of this week, as yen is benefiting from weakness around the US dollar and risk-off sentiments, sparked by renewed geopolitical tensions between North Korea and the US. Today the market continues to digest Friday’s weak results of the US from its labor market, which showed drop in jobs during the previous month, thereby keeping the US dollar under pressure today. Moreover, renewed risk-off trend, triggered by the latest news reports, saying that N. Korea is preparing to test a long-range missile, supports safe-haven, such as the yen, at the start of this week. However, minor attempts of the US dollar to recover some ground helped the pair to bounce off its intraday lows, marked at 112.33 spot earlier this session. Today nothing important is scheduled in the US data calendar, so broad market trend and risk sentiments continue to navigate the pair during this trading session.

 

The main events of the day:

US – Columbus Day

Canada – Thanksgiving Day

Japan – Health-Sports Day

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1643 R. 1.1785

USDJPY                 S. 112.05 R. 113.71

GBPUSD               S. 1.2975 R. 1.3163

USDCHF               S. 0.9727 R. 0.9859

AUDUSD              S. 0.7703 R. 0.7833

NZDUSD               S. 0.7022 R. 0.7152

USDCAD               S. 1.2478 R. 1.2624

 

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OCTL2P Installation and Activation Print

One Click Trading Level2 Plugin

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.

Installation and activation

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.

MT4 Installation Print

Trading platform MetaTrader 4

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.

System requirements: Microsoft® Windows® XP or later.

Installation

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.

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