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19 01 12:01
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Daily economic digest from Forex.ee

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The EUR/USD pair extends its rebound from weekly lows, marked at 1.2165 spot a day before, on the back of renewed sell-off of the greenback. Recent weakness of the US dollar is mainly explained by new-fashioned market trend, caused by speculations that the Federal Reserve no longer the only central bank, which intends to raise its interest rate. However, further growth of the pair looks capped, as investors start gradually to shift their attention to the ECB interest rate decision, which is scheduled for next week. Expected that the regulator will keep its rate unchanged, while any dovish comments from the ECB President M.Draghi will notably weight on the common currency. Looking ahead, today we will have another quiet session, as both economic calendars won’t bring us anything noteworthy, so broad market trend will remain the key determinant for the pair at the end of this week.

 

The GBP/USD pair continues to move northward, trying to regain the region of its post-Brexit vote highs. The latest upside trend of the pair is mainly attributed to the renewed weakness of the US dollar versus its major rivals after several unsuccessful attempts to correct its positions, seen earlier this week. Adding to this, positive comments of the UK PM T.May regarding Brexit issue also contribute to the latest bullish trend of the pair. Mrs. May stressed during a brief press conference with French President Emmanuel Macron that Brexit wouldn’t affect close relations between two countries. Now all traders’ attention shifts towards UK retail sales numbers, however, it will be the only important release for today, so US dollar price dynamics will continue to navigate the pair this Friday.

 

The dollar/yen pair keeps its offered tone for the second day in a row, following broad market trend. Seems that US bulls again lost the control over the market, allowing most major currencies to benefit from the weakness of the greenback, and the yen is no exception. Adding to this, slightly increased demand for safety provides support to the yen, thus exerting extra pressure on the pair. In the day ahead, the economic calendar won’t offer investors anything important at the last day of this trading week, so the US dollar price dynamics will remain a sole driving factor for the pair during this trading session.

 

The AUD/USD pair remains the top gainer of this trading session, re-entering the area of its 4-month highs, marked at 0.8023 spot earlier this week. The main reason of pair’s latest upside rally remains renewed weakness of the US dollar, which is dominating the market at the final working day of this week. However, further growth of the pair looks limited on the back of subdued dynamics on the commodity market, especially of oil prices, which exerts some negative pressure on the resource-linked Aussie. On the data front, today the US economic calendar will remain silent, leaving the pair at the mercy of greenback price dynamics during this session.

 

Major events of the day:

UK Retail Sales – 11.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2122 R. 1.2322

USDJPY                 S. 110.29 R. 111.89

GBPUSD               S. 1.3759 R. 1.3979

USDCHF               S. 0.9518 R. 0.9700

AUDUSD              S. 0.7916 R. 0.8048

NZDUSD               S. 0.7213 R. 0.7363

USDCAD               S. 1.2365 R. 1.2511

 

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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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