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23 02 12:02
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Daily economic digest from Forex.ee

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The EUR/USD pair regained its offered tone on Friday after brief correction, seen during the previous session. Renewed weakness of the pair could be mostly explained by ongoing demand for the US dollar, which dominates the market this week. Adding to this, yesterday’s slightly dovish ECB minutes, where the regulator made no changes to its monetary policy or forward guidance, also failed to bring any impact to the common currency. However, both regulators’ minutes, released this week, showed growing policy divergence between Central Banks, which favors the US dollar, as the Fed pointed to more aggressive monetary policy than the ECB. Looking ahead, now all attention remains focused to the EU inflation report, which will be published during European trades, however, it will remain the only important release for today, so widespread market trend will continue to navigate the pair during the NA session.

 

The GBP/USD pair came out of its brief consolidation phase this morning and now is drifting to the negative territory. Seems that the pair follows broad market trend at the last working day of the week, backed by renewed demand for the US dollar. Adding to this, continuing Brexit fears are also weighing on the pound lately, as UK PM T.May signalled a reversal on a key Brexit policy regarding EU migrants in the UK, following warnings and threats from EU leaders in Brussels, which in turn could mean an undermine of British sovereignty. Today both economic calendars will remain silent, leaving the pair at the mercy of broad market trend, which is determined lately by US dollar price actions.

 

The NZD/USD pair remains the biggest loser of this Friday, as US bulls have retaken the control over the market, having ignored positive NZ retail sales data, which was released in early Asia. The key reason of pair’s continuing weakness could be called the renewed demand for the US currency across the market. Moreover, slight uncertainty around NZ Bank’s further monetary policy actions remains another bearish factor for the pair, as markets await for the new RBNZ Governor Adrian Orr to takes up his duties. On the data front, today we will witness another quiet session, so further US dollar price dynamics will remain the key determinant for the pair during this trading session.

 

The USD/JPY pair regained its positive traction in early Asia, having bounced off its 3-day lows, marked at 106.59 spot. Positive tone of the pair could be mainly explained by renewed buying interest around the US dollar after brief downside correction, witnessed on Thursday. Adding to this, another bearish factor for the pair could be fresh comments of BoJ authorities, saying that the yen is too strong, which make us to believe that market intervention could follow soon. On the other side, positive Japan’s inflation figures remain supportive for the yen, which could slow down pair’s current upside trend. Today the US economic calendar lacks any important data, so the US dollar will remain the key navigator for the pair during this session.

 

Major events of the day:

EU CPI – 12.00 (GMT +2)

Canada Core CPI – 15.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2221 R. 1.2407

USDJPY                 S. 105.86 R. 108.20

GBPUSD               S. 1.3801 R. 1.4065

USDCHF               S. 0.9270 R. 0.9438

AUDUSD              S. 0.7763 R. 0.7901

NZDUSD               S. 0.7277 R. 0.7395

USDCAD               S. 1.2628 R. 1.2790

 

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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.

Forex broker Forexee

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.

Forex broker Forexee

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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