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07 02 01:02
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Daily economic digest from Forex.ee

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The EUR/USD pair keeps its negative trend, following broad market trend at the equator of this week. However, seems that Euro bulls continue to fight for the control over the pair, but remaining unable to break through the resistance level, located in the area of 1.2400. Recent weakness of the pair is mainly explained by ongoing recovery of the US dollar, which is dominating the market lately. However, further decline of the pair looks limited in wake of recent positive news that heads of the key German parties have finally agreed to form a ruling coalition, which will significantly reduce the level of uncertainty formed on the political field of Germany. On the data front, today both economic calendars won’t offer investors anything important, leaving the pair at the mercy of broad market trend during this trading session.

 

The GBP/USD pair remains negative for the fourth consecutive session, having refreshed its 3-week lows at 1.3836 mark, as ongoing uncertainty surrounding Brexit is still weighing the pound. However, yesterday the pair managed to recover some pips in wake of disappointing data from the US labor market, while rising to the area of 1.3980. But further upside of the pair lacked momentum, as the decline in demand for risky assets exerted additional pressure on the pound, forcing the pair to enter consolidation phase in Asia. Moreover, the pair was not able to keep its recovered positions and broke through its narrow range to the downside at the European morning, as UK bears are still not ready to ease the control over the pair. Looking ahead, today the economic calendar won’t offer us anything noteworthy, so broad market trend will continue to navigate the pair during this trading session. Meanwhile, investors start focusing their attention on the important BoE meeting, which will take place on Thursday and will help the pound to form its further trajectory.

 

The NZD/USD pair emerged the biggest loser of this Asia, having trimmed its recent gains. The pair failed to keep its positions, gained following red numbers from the US labor market and positive NZ employment data, as persisting risk-off sentiments negatively affect higher-yielding Kiwi. Moreover, recent decline of the pair could be additionally explained by repositioning of bets ahead of the RBNZ interest rate decision, which is scheduled for the next Asian session. It is expected that the regulator will keep its interest rate unchanged, while any comments regarding Bank’s economic projections could spark a surge of volatility around the NZ dollar. Despite RBNZ meeting, the economic calendar won’t bring us anything important on Wednesday, so broad market trend will continue to navigate the pair during this trading session.

 

Bitcoin continues to lose the battle against financial institutions, which are negative about cryptocurrencies. Yesterday the BTC/USD pair dropped below the level of 6000 on the back of news that China outlaws the buying and selling of digital cash within their borders. This news additionally accelerated downside trend of the virtual assets, caused by oppression of the cryptocurrencies by the Asian authorities, and forced the pair to refresh its recent 3-month lows. However, it seems that Bitcoin has managed to recover some ground in wake of flash of hope from the Asian continent. According to the latest headlines, government of Singapore stated that they would not shut their borders to block-chain technologies, instead they would warn people about risks and dangers of fraudulent actions related to trading in cryptocurrencies and investing in crypto-technology. By the moment of writing, the price for Bitcoin was 7718.00 USD, while its market capitalization dropped to 128 billion US dollars.

 

Major events of the day:

US Crude Oil Inventories – 17.30 (GMT +2)

RBNZ Interest Rate Decision – 22.00 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2253 R. 1.2495

USDJPY                 S. 108.02 R. 110.42

GBPUSD               S. 1.3763 R. 1.4091

USDCHF               S. 0.9262 R. 0.9446

AUDUSD              S. 0.7809 R. 0.7957

NZDUSD               S. 0.7222 R. 0.7410

USDCAD               S. 1.2443 R. 1.2591

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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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