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16 02 12:02
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Daily economic digest from Forex.ee

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The EUR/USD pair follows broad market trend at the last working day of this week, backed by sharp retreat of the US dollar. Recall, the US dollar came under strong selling pressure on Wednesday following upbeat US inflation results, with no clear catalysts, which could trigger downside rally of the greenback. Earlier today the pair refreshed its 3-year highs on the level of 1.2555, as US bulls remain unable to protect positions of the US dollar. However, some FX-analysts believe that the US dollar remains significantly oversold and its upside correction could follow soon, but for now the pair continues to push its positions to the green territory. Nothing much is scheduled for the pair at the last working day, except the data from the US labor market, which expectedly won’t have significant impact across the market, so the US price dynamics will remain the main determinant for the pair this Friday.

 

The USD/JPY pair continues steadily losing points, having once again refreshed its 15-month lows at 105.55 spot on the back ongoing sell-off of the US currency. On Friday, the weakness of the greenback remains the key driving factor across the market, despite Wednesday positive US inflation numbers, which hinted at more aggressive Fed monetary policy path. Adding to this, in Asia the yen took the center stage, following reappointment of H.Kuroda for the post of the head of the BoJ. It seems that markets took this news positively, providing additional support to the yen at the end of the working week. On the data front, today the US will publish building permits numbers, which will be able to bring some short-term impetus to the pair, however, the US dollar price dynamics will remain as a key determinant for USD/JPY during this trading session.

 

The AUD/USD pair remains positive after choppy Thursday, moving closer to the mark of 0.80. Yesterday the pair came under minor bearish pressure on the back of attempts of US bulls to retake control over the market and correct positions of the greenback. However, the decline was short-lived and AUD/USD has regained its positive traction, while refreshing its 2-week highs. On the other hand, the pair stalled its bullish run at the start of the Asian session on the back of comments of the RBA Governor Ph.Lowe in parliament, who reiterated the need to maintain current monetary policy, despite broad trend of increasing interest rates, as Australian economic data show mixed results lately. Today, the US will publish data from the labor market, but expectedly it won’t have significant impact on the pair, as weakness of the US dollar remains the main trend-maker this Friday.

 

The Bitcoin price is finally back above the mark of 10,000 USD for the first time since sharp drawdown below the level of 6,000. The BTC/USD pair continues to trade with mildly bullish bias lately and now is trying to consolidate positions in the vicinity of its psychological mark on the back of broad recovery of the crypto market. Recent positive trend of the world’s largest cryptocurrency could be explained by easing oppression of digital cash by Asian authorities, as South Korea dispelled worries about total ban of cryptocurrency on its territory. By the moment of writing, the Bitcoin price stepped away from its intraday highs, marked at 10,259.00 spot, however, keeping its positions within striking distance of 10,000, while market capitalization of the most popular digital asset increased up to 167 billion US dollars.

 

Major events of the day:

UK Retail Sales – 11.30 (GMT +2)

US Building Permits – 15.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2422 R. 1.2552

USDJPY                 S. 105.43 R. 107.35

GBPUSD               S. 1.3953 R. 1.4177

USDCHF               S. 0.9157 R. 0.9323

AUDUSD              S. 0.7859 R. 0.8009

NZDUSD               S. 0.7344 R. 0.7442

USDCAD               S. 1.2422 R. 1.2566

 

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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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