The EUR/USD pair extends its upside trend, having refreshed its weekly highs in the vicinity of 1.2380, following unchanging market trend. It seems that American bulls have totally lost control over the market, allowing the US dollar to retreat against its major rivals, including the euro. Recent drawdown of the greenback could be partially explained by recent dovish comments of the Fed member J.Powell, who stated that the regulator remains alert to any financial stability risks. Adding to this, ongoing demand for safety could be another supportive factor for the pair this Wednesday. On the data front, today all traders’ eyes will remain glued to the bloc of important US data, featuring highly expected inflation figures, which will be published during NY trades.
The GBP/USD pair remains better bid in the middle of this week, keeping its positions above the level of 1.3900, as the pound is still benefiting from yesterday’s positive British inflation data. Recall, on the last BoE meeting MPC members agreed on the need to implement monetary policy tightening measures, while yesterday’s UK inflation numbers hinted that the regulator could take more aggressive tightening path, which includes several rate hikes this year. However, still persisting risk-off sentiment is negatively affecting higher-yielding assets, and the pound is no exception, thus limiting pair’s further gains. As UK inflation figures have already been digested, now market’s attention shifts towards the US inflation data, which will be able to bring fresh trading opportunities during the NA session.
The dollar/yen pair continues to push its positions to the red territory, having refreshed its 15-month lows at 106.84 spot, despite red numbers of the Japanese GDP report, which was published in Asia. It seems that the US bulls have completely lost control over the market, allowing the pair to retreat to its recent lows. Moreover, widespread risk-aversion continues to dominate the market, boosting demand for safe-haven assets, which is another bearish factor for the pair. However, uncertainty around candidate for the position of the BoJ governor may limit yen’s further gains, as Japanese PM Sh.Abe still hasn’t made a decision of reappointing current head of the regulator H.Kuroda. Recall, it was Mr.Kuroda’s program of quantitative easing that exerted negative pressure on the yen, and fresh view on the economy could positively affect positions of the Japanese currency. On the data front, today all traders’ attention will be focused to the key event of this week – the release of the US inflation report, which will take place during the NA session.
The NZD/USD pair remains one of the top gainers of this Asian trading session, having spiked the level of 0.7300, with a peak, located at 0.7335 spot. Earlier today, the Kiwi received strong bullish impetus following RBNZ’s revision of inflation expectations to the upside. These numbers showed an increase in confidence of the regulator in further healthy growth of the NZ economy. Adding to this, ongoing softness around the US dollar also contributed to pair’s recent upside move. Today, we have important data, scheduled in the US economic calendar, which expectedly will be able to spark volatility around the US dollar during the NA session.
Major events of the day:
US Core CPI – 15.30 (GMT +2)
US Retail Sales – 15.30 (GMT +2)
US Crude Oil Inventories – 17.30 (GMT +2)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2248 R. 1.2422
USDJPY S. 106.62 R. 109.36
GBPUSD S. 1.3791 R. 1.3973
USDCHF S. 0.9280 R. 0.9432
AUDUSD S. 0.7805 R. 0.7903
NZDUSD S. 0.7210 R. 0.7346
USDCAD S. 1.2534 R. 1.2654
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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.