The EUR/USD pair stalled its recent retreat and now is attempting to recover positions. On Tuesday, the major currency pair met some support in the vicinity of 1.19 and by the moment of writing has trimmed some previous losses, having refreshed its intraday highs at 1.1950 level. Recent positive dynamics of the pair could be mainly attributed to slight downside correction of the USD, as investors have passed over Friday’s results from the US labor market. Looking ahead, today the economic calendar won’t bring us anything noteworthy, except several Fedspeaks, so the US dollar dynamics will remain the sole driver for the pair this Wednesday.
The GBP/USD pair keeps offered tone for the second day in a row, wobbling in the region of its weekly lows, marked near the level of 1.3500 a day before. The latest leg down of the pair could be mainly explained by recent news that UK PM T.May intends to reshuffle her ministerial team, damaged by divisions over Brexit, which, in turn, weighs the pound across the market lately. Moreover, significantly increased demand for safety also adds some pressure on the higher-yielding pound at the equator of this week. However, further retreat of the pair may appear limited, as the US dollar lost its positive momentum and now is correcting lower against its major rivals. Now immediate focus shifts towards a slew of UK data, featuring manufacturing production numbers, while the US data calendar won’t bring us anything relevant today, leaving the pair at the mercy of broad market trend during the NA session.
The USD/JPY pair extends its retreat, dropping below the level of 112.00 at the beginning of the European session, while the yen keeps the status of the most profitable asset for the second day in a row. The latest weakness of the pair is mainly attributed to a spike of the demand for safety, caused by latest reports from the Korean Peninsula, saying that Pyongyang refused to curtail its nuclear program, which indicate extension of geopolitical tensions surrounding North Korea. Moreover, news of significant earthquake in Central America with tsunami warnings in some Caribbean islands also boosted demand for safe-haven assets, such as the yen. Adding to this, seems that the market is still digesting recent decision of the BoJ to reduce in its daily JGBs purchases that also underpins buying interest around the yen, thus weighing pair. Today in absence of any relevant data releases broad market trend and demand for less risky assets will remain as key driving factors for the pair during this trading session.
In the meantime, Bitcoin remains under bearish control. The BTC/USD pair fell below the level of 14,000.00, extending its recent downside trend for the fourth consecutive session, as several factors weigh the world’s most known digital currency. First, we would like to mention that Microsoft Corporation no longer uses Bitcoin as payment instrument that underpins markets’ jitters regarding increased risks related to digital currencies as payment methods. Adding to this, one of the most popular crypto research sites – coinmarketcap.com has ceased to use data of South Korean crypto exchanges in calculations of prices for coins, which may be related to South Korean regulator’s anti-laundering measures within cryptocurrency market, while, according to latest reports, People’s Bank of China is considering potential actions to ban cryptocurrency mining. Both these factors indicate attempts of the local financial institutions to implement regulation measures in relation to cryptocurrency trades that exerts some negative pressure on assets all across the cryptomarket, including Bitcoin. By the moment of writing, the BTC/USD pair was trading at 13,680.00 spot, while Bitcoin’s market capitalization decreased to the level of 233 billion USD, according to data, available on coinmarketcap.com.
Major events of the day:
US Crude Oil Inventories – 17.30 (GMT +2)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1882 R. 1.2002
USDJPY S. 111.91 R. 113.53
GBPUSD S. 1.3464 R. 1.3618
USDCHF S. 0.9728 R. 0.9894
AUDUSD S. 0.7774 R. 0.7888
NZDUSD S. 0.7136 R. 0.7208
USDCAD S. 1.2365 R. 1.2525
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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.