The pair EUR/USD continues to show positive dynamics at the end of this year, finally breaking through the resistance level of 1.1960, while refreshing its 3-month highs. Seems that USD bears are still dominating the market, which is considered as the main driver of pair’s latest bullish rally. Recent weakness of the US dollar could be mainly explained by closing buy positions on the greenback ahead of the New Year celebration. Adding to this, speculations on narrowing divergence between the Fed and ECB policies also provide some support to the major currency pair lately. On the data front, today the economic calendar will offer only secondary data reports, such as German flash inflation numbers, which will unlikely attract enough of traders’ attention, so broad market trend will continue to navigate the pair during the last working day of this year.
The GBP/USD pair follows broad market trend today and extends its positive rally for the fourth session in a row, having once again refreshed its 2-week highs at 1.3471 spot. The latest upside rally of the pair is mainly attributed to broad softness of the US dollar, caused by uncertainty over the Fed monetary policy plans for the next year and broad greenback’s withdrawal ahead of year’s close. Adding to this, increased demand for higher-yielding assets provides extra support to risky pound at the last working day of the year. Expected that today the pair won’t show any sharp moves as investors shift their attention towards the New Year celebration.
The USD/JPY pair remains under pressure at the last working day of this year, having posted its 8-day lows at 112.64 spot on the European opening. The main driver for the pair remains ongoing weakness of the US dollar, backed by pre-New Year decrease of liquidity across the market. Moreover, yesterday’s pack of positive Japanese macro-news also contributes to pair’s downside trend this Friday. On the other hand, slightly increased demand for risky assets exerts negative pressure on safe-haven yen, which in turn may limit pair’s further retreat. Today in absence of any relevant economic data releases the pair will continue to follow broad market trend ahead of the New Year celebration.
The AUD/USD pair stalled its upside trend after 8-day winning streak and now is consolidating its positions in the 0.7790-7810 area. Yesterday the pair refreshed its 2-mongh highs at 0.7807 mark on the back of broad retreat of the US dollar, which was caused by a close of greenback buy orders on the eve of the holidays. However, seems that the pair suspended its northward rally in Asia mainly because of slight correction on the commodity market, especially of copper and gold prices, which weighed on the commodity-linked Aussie. Looking ahead, today we have absolutely empty economic calendar, so broad market sentiments and the US dollar price dynamics will continue to determine pair’s further trajectory.
Major events of the day:
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1865 R. 1.1997
USDJPY S. 112.26 R. 113.70
GBPUSD S. 1.3365 R. 1.3495
USDCHF S. 0.9717 R. 0.9895
AUDUSD S. 0.7742 R. 0.7836
NZDUSD S. 0.7032 R. 0.7126
USDCAD S. 1.2503 R. 1.2693
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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.