The EUR/USD pair extends its upside trend for the third session in a row, as ongoing softness of the US dollar remains key driving factor across the market this Wednesday. Recently the greenback received another bearish impetus following latest update on the tax reform bill. The US Senate approved tax legislation, however, sending bill back to House of Representatives for a re-vote, as some documents didn’t match the rules of the Senate. On the data front, today the EU data calendar will remain silent, while the US will publish fresh data from the US housing market, which will help the pair to determine its further movement direction. However, today all eyes will remain glued to fresh developments related to the upcoming US tax reform.
The GBP/USD pair keeps positive tone this Wednesday on the back of subdued dynamics of the US dollar. Seems that US bulls remain on the back foot today as the tax reform bill was sent back to the House for the final vote. On the other hand, ongoing uncertainty around Brexit and renewed risk-off trend, triggered by the latest news, saying that North Korea is going to load bioweapon onto ICBMs, are limiting pair’s further gains. Now all traders’ attention shifts towards BoE Governor M.Carney’s testimony on the November Financial Stability Report before the Treasury Select Committee, which will bring some impetus to the pound, while US existing home sales numbers will also be in focus for fresh trading opportunities.
The NZD/USD pair remains under pressure at the equator of this week despite broad weakness of the US dollar. The NZ dollar came under notable selling pressure at the start of the Asian session following bloc of negative NZ economic results, featuring notable trade deficit. However, the Kiwi’s downside rally appeared limited and the pair met support in the area of 0.6500 level, as markets are digesting recent US political/economic events. The US Senate approved the much-awaited tax legislation, however, sending the bill back to the House for the re-vote. Looking ahead, today investors will focus their attention on fresh data from the US housing market, while NZ GDP numbers will help the pair to form its further trajectory during next Asian trades.
Bears finally met Bitcoin. Today the BTC/USD pair remains depressed, having refreshed its intraday lows below the level of 16,000.00. Recall, earlier this week bitcoin rose in price to 19,850.00 USD on news that another US based currency exchange CME Group launched bitcoin futures. However, there is no clear catalysts for pair’s retreat, so recent weakness of the world’s largest cryptocurrency could be mainly explained by technical correction after sharp upside rally. However, Bitcoin Cash, Bitcoin’s younger brother and one of its main rivals, has gained 60% for the last 24 hours reacting on headlines that Coinbase exchange will start offering trading BCH, eventually adding some negative pressure on the most popular digital currency. By the moment of writing, Bitcoin was trading on the level of 16,151.00, while its market capitalization dropped below the level of 300 billion USD, according to data available on coinmarketcap.com.
Major events of the day:
BoE Governor M.Carney’s Speech – 15.15 (GMT +2)
US Existing Home Sales – 15.00 (GMT +2)
US Crude Oil Inventories – 15.30 (GMT +2)
NZ GDP – 23.45 (GMT +2)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1749 R. 1.1893
USDJPY S. 112.25 R. 113.39
GBPUSD S. 1.3299 R. 1.3445
USDCHF S. 0.9809 R. 0.9897
AUDUSD S. 0.7626 R. 0.7700
NZDUSD S. 0.6932 R. 0.7038
USDCAD S. 1.2813 R. 1.2953
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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.