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09 03 12:03
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Daily economic digest from Forex.ee

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The EUR/USD pair keeps its positions in the lower end of its weekly range today near the level of 1.2300 after yesterday’s drawdown, triggered by cautious tone of the ECB President M.Draghi. As it was widely expected, the ECB left its interest rate and QE program unchanged, however, having revised lower its inflation projection for 2019. Adding to this, during the ECB press conference Mr.Draghi showed confidence in the effectiveness of the current monetary policy, which remains highly accommodative. However, seems that the pair stalled its downside trend, as investors are awaiting for another important event – the release of the NFP report, which is scheduled for the NA session. But on the euro zone side, today the EU calendar will again remain silent, so the pair will continue trace broad market trend until the key event of this Friday.

 

The USD/JPY pair witnessed quite volatile session, having refreshed its weekly highs near the level of 107.00, which was caused not by the results of the BoJ meeting. Earlier in Asia, totally eventless meeting of the Japanese regulator took place, where the Bank kept interest rate at the same level, while reiterating all said before. According to the accompanying statement, Japan’s inflation is still far away from its 2% target level, so it is too early to discuss stimulus exit strategy. However, the pair managed to gain almost 90 pips during Asian trading session on the back of spike of risk-on sentiments, as market’s attention shifted towards N.Korean events. The Korea’s leader Kim Jong-Un offered to suspend the nuclear missile program, which forced investors to pay attention to higher-yielding assets, thus driving the yen lower against its major rivals. Looking ahead, today all investors’ eyes will remain glued to the key event of this Friday – NFP report, which expectedly will bring fresh trading opportunities to the market during the NA session.

 

The GBP/USD finally recovered its positive tone following broad market trend, caused by risk-on sentiments. Recall, yesterday the pair received strong bearish impetus on the back of increased demand for the US currency. Recent greenback’s upsurge was mainly attributed to sharp drawdown of the EUR/USD pair, triggered by cautious comments from the ECB President. Adding to this, market speculations regarding “hard” Brexit are also negatively influencing the pound lately. However, the pair stalled its retreat during this Asian trading session on the back of reports of North Korea denuclearization, which triggered wave of bids for higher-yielding assets, including the pound. On the data front, today the UK will released manufacturing production data, however, it is expected that this data won’t bring any notable impact to the pair, as all traders’ attention today is focused on the NFP report, which will be released during New York trades.

 

The NZD/USD pair regained its bid tone today in wake of increased interest to the risky assets. The spike of interest to higher-yielding instruments is mostly attributed to the announcement, coming from North Korea. Earlier today, North Korean leader Kim Jong-Un offered to stop nuclear testing, and also expressed the desire to meet with the US President as soon as possible. The increased prospects of peace in Korean Peninsula have triggered a wave of bids for higher-yielding assets, such as the Kiwi. However, the pair stalled its upside, as shadow of a global trade war and typical cautiousness ahead of the crucial data from the US labor market are limiting bullish rally of risky instruments. As it was mentioned before, today the US will publish important data from the labor market – NFP, which is the main market-moving event of this Friday.

 

Major events of the day:

UK Manufacturing Production – 11.30 (GMT +2

US Nonfarm Payrolls – 15.30 (GMT +2)

US Unemployment Rate – 15.30 (GMT +2)

Canada Employment Change – 15.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2202 R. 1.2500

USDJPY                 S. 105.71 R. 106.55

GBPUSD               S. 1.3702 R. 1.3964

USDCHF               S. 0.9386 R. 0.9582

AUDUSD              S. 0.7734 R. 0.7864

NZDUSD               S. 0.7214 R. 0.7318

USDCAD               S. 1.2813 R. 1.3003

 

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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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