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22 01 12:01
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Daily economic digest from Forex.ee

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The EUR/USD pair witnessed a bullish opening gap, however, failing to extend its upside trend, on the back of attempts of the US dollar to correct higher across the market. Today returned bid tone around the greenback remains the key theme of the market, which is forcing major currencies to step lower against USD. Moreover, ongoing political drama in Germany, where heads of the key parties are still struggling to from a ruling coalition, also weighs on the common currency lately. Adding to this, further sharp moves of the pair remain capped, as investors gradually shift their attention to one of the key events of this week – ECB interest rate decision, which is scheduled for this Thursday. The key issue for speculations across the market remains whether the ECB will provide any fresh information about its QE program. Looking ahead, nothing interesting is scheduled in economic calendar for this Monday, so further US dollar price moves will determine pair’s direction during this trading session.

 

The GBP/USD pair remains softer at the first trading day of the week on the back of several bearish factors, which are weighing the pair. Today US bulls performed another attempt to re-take control over the market, forcing major currencies to step lower against the greenback, and the pound is no exception. Moreover, Friday’s negative UK retail sales numbers are still weighing GBP, also limiting pair’s further upside. On the data front, today both economic calendars won’t bring us anything relevant, so further USD price actions will remain the key driving factor for the pair during this trading session.

 

The USD/JPY pair started this week on a positive note, moving closer to the level of 111.00. The latest bullish move of the pair is mainly attributed to another attempt of the US dollar to correct positions against its major rivals. However, further session is expected to be pretty quiet, as the US economic calendar won’t bring us anything noteworthy. Adding to this, investors are starting to shift their attention to the upcoming BoJ meeting, which will take place during the next Asian session. It is expected that the regulator will keep its interest rate unchanged, while any comments about Bank’s actions regarding QE program and further leadership of the BoJ (as it may become the last quarterly ‘outlook’ meeting for Governor Haruhiko Kuroda) will help the pair to form its further trajectory. Today in absence of any relevant data releases, the US dollar price dynamics will remain the sole driving factor for the pair.

 

Bitcoin is still struggling to find direction at the start of the week. Over the weekend, the BTC/USD pair failed its attempt to break through the level of 13,000 and retreated below the mark of 12,000. Recent downside move of the pair is mostly explained by fresh news headlines that authorities of Asian countries are trying to regulate cryptocurrencies. This time the newsmaker was Taiwan, where the government is considering whether to include trading cryptocurrencies in anti-money laundering program. Recall, recently it became known that Chinese government is planning to tighten measures aimed at limiting the mining of cryptocurrencies, while S.Korea is considering a ban of trading cryptocurrencies. At the start of this week, the price for the world’s most known cryptocurrency was 11,540.00 USD, and its market capitalization was 196 billion US dollars, according to data available at coinmarketcap.com.

 

Major events of the day:

None

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2160 R. 1.2322

USDJPY                 S. 110.16 R. 111.44

GBPUSD               S. 1.3771 R. 1.3985

USDCHF               S. 0.9500 R. 0.9704

AUDUSD              S. 0.7941 R. 0.8059

NZDUSD               S. 0.7236 R. 0.7342

USDCAD               S. 1.2357 R. 1.2575

 

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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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