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01 12 01:12
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Daily economic digest from Forex.ee

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The EUR/USD pair extends its upside trend for the third session in a row, keeping its positions above the level of 1.19 at the last working day of the week. Yesterday the greenback came under fresh selling pressure after the Senate delayed a vote on the highly anticipated US tax cut legislation, which, in turn, had a positive effect on the major currency pair. Moreover, seems that the retreat of the euro in the cross with the pound, caused by optimism surrounding Brexit, eased somewhat that also remains positive factor for the shared currency. Looking ahead, today the US will publish ISM manufacturing PMI report, which will likely hog the limelight during the NA session, while any price actions of the US dollar will remain as the key determinant for the pair during this trading session.

 

The GBP/USD pair consolidates its positions within striking distance of its 2-month highs, marked earlier today in the region of 1.3550. The pound continues to benefit from market’s expectations of positive outcome of Brexit negotiations. However, recent upside rally of the pair appeared limited in Asian session mostly in absence of any fresh positive news regarding Brexit negotiation. Moreover, broad weakness of the US dollar, which was caused by concerns over the US tax bill, also supports the pair at the end of this week. Now all traders’ attention remains focused on the UK manufacturing PMI for fresh directional impetus, while the US ISM manufacturing PMI report will also be able to bring some trading opportunities during the NA session.

 

The AUD/USD pair extends its bearish trend at the end of this week, showing negative dynamics for six consecutive days. Currently the pair is consolidating its positions within tight range of 0.7550-70, failing to benefit from subdued price actions of the US dollar. The main reason of pair’s weakness remains China’s Nov Caixin manufacturing PMI data, which came below market’s expectations, lending some negative pressure on the Aussie. However, further retreat of the pair may appear limited, as softer sentiments surrounding the greenback and slightly increased interest amid investors for higher-yielding assets provide some support to the pair. Today the US data calendar will bring us a slew of data releases, featuring ISM Manufacturing PMI report and several secondary tier data releases, while any sharp moves of the US dollar across the market will also be able to influence the pair in the session ahead.

 

The USD/JPY pair keeps positive traction for the fourth straight session, having refreshed its more than one-week highs at 112.69 spot. The pair remained mostly resilient to broad retreat of the greenback, caused by a delay in voting by the Senate on the highly anticipated US tax reforms. Pair’s recent growth could be mainly explained by renewed risk appetite across the market, which is negatively influencing all safe-haven assets, including the yen. Moreover, bloc of mixed Japanese data, published in Asia, also did little to support the Japanese currency. Later during the NA session, the US will release the ISM correction of the US dollar after yesterday’s drawdown will also be able to influence pair’s dynamics.

 

The main events of the day:

German Manufacturing PMI – 10.55 (GMT +2)

UK Manufacturing PMI – 11.30 (GMT +2)

Canada Employment Change – 15.30 (GMT +2)

Canada GDP – 15.30 (GMT +2)

US ISM Manufacturing PMI – 17.00 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1758 R. 1.2004

USDJPY                 S. 111.40 R. 113.20

GBPUSD               S. 1.3348 R. 1.3638

USDCHF               S. 0.9778 R. 0.9910

AUDUSD              S. 0.7534 R. 0.7610

NZDUSD               S. 0.6791 R. 0.6909

USDCAD               S. 1.2827 R. 1.2943

 

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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.

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Read the license agreement, select the check box I accept the agreement and click Next to proceed.

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Indicate directory where you previously installed MetaTrader 4. To start the installation click Install.

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When the installation process is finished, the Next button will be activated.

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Click Finish to close the installation dialog box. Activate Launch MT terminal option if you want MT4 launched after you click Finish.

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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.

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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.

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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.

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Read the license agreement, select the check box Yes, I agree with all terms of this license agreement and click Next to proceed.

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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.

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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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