The EUR/USD pair showed pretty volatile dynamics during previous trading session, having gained more than a cent since yesterday’s lows, marked at 1.2155 spot. The main reason of pair’s recent growth could be called US President D.Trump’s comments that the US will impose steep tariffs on steel and aluminum imports, thus intensifying concerns over a possible trade war, which will negatively affect US business relationship with China. Adding to this, yesterday the second round of Fed Chair J.Powell’s testimony took place, where the head of the regulator repeated his performance before the Senate, but this time showing more cautious tone on wages and inflation, which also had a negative impact on the positions from the US dollar. Looking ahead, today the economic calendar lacks any important data releases, so the US dollar dynamics, caused by recent events, will remain the key driving factor for the pair during this trading session.
The GBP/USD pair remains directionless at the end of this week, as investors are eagerly awaiting for UK PM T.May to provide more details regarding her further negotiation strategy with the EU. Earlier today the pair managed to recover some pips after sharp drawdown, triggered by hawkish comments of the new Fed Chair J.Powell regarding the US economy on Tuesday. However, now pair is failing to find clear direction amid intensified cautiousness amid market participants, as traders remain in anticipation of all-important speech of Mrs.May, where she is expected to speak about Brexit issues, such as boarder control and trade deal with the EU, which significantly affect positions of the pound in lately. Besides the speech of Mrs.May, investors will also pay attention to BoE Governor M.Carney, who is also scheduled to speak during the European trading session.
The USD/JPY pair extends its downside trend for the third session in a row, having refreshed its 2-week lows at 105.71 level. This time, the main reason of pair’s retreat became sharp sell-off of the US dollar, triggered by comments of the US President, saying that the US will impose steep tariffs on steel and aluminum imports, which may lead to a trade war with China. Moreover, the yen also benefited from the comments of the BoJ Governor H.Kuroda, who stated that the Japanese regulator could reconsider its massive monetary policy easing measures next year. Looking ahead, the pair will likely remain offered today following broad market trend, as the US economy haven’t prepared any saving data releases for the dollar this Friday.
The NZD/USD pair keeps its bullish tone in the second half of the week, as broad sell-off of the US currency remains the key theme across the market on Friday. Recent drawdown of the US dollar is mostly attributed to the US President Trump’s announcement of the import tariffs on steel and aluminum, which intensified concerns over a possible trade war with China. Adding to this, yesterday’s surprisingly strong China’s Caixin manufacturing data and recent upbeat numbers from the NZ housing market also remain supportive for the Kiwi today. On the data front, nothing much is scheduled in the economic calendar for this Friday, so the pair will continue to follow broad market trend, caused by retreat of the US dollar, during this trading session.
Major events of the day:
UK Prime Minister T.May’s Speech
UK Construction PMI – 11.30 (GMT +2)
BoE Governor M.Carney’s Speech – 12.00 (GMT +2)
Canada GDP – 15.30 (GMT +2)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2111 R. 1.2351
USDJPY S. 105.48 R. 107.58
GBPUSD S. 1.3683 R. 1.3829
USDCHF S. 0.9359 R. 0.9519
AUDUSD S. 0.7689 R. 0.7803
NZDUSD S. 0.7156 R. 0.7310
USDCAD S. 1.2759 R. 1.2931
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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.