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28 03 11:03
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Daily economic digest from Forex.ee

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The EUR/USD pair continues to move in the south direction, mainly driven by the US dollar dynamics. Yesterday the greenback caught a fresh bid-wave on the back of speculations regarding possible avoidance of a trade war between the US and China, as sides agreed to discuss further trading terms. However, the pair was able to recover some of its losses during yesterday’s trades, but failed to hold its positions, as US bulls regained control of the pair after short breather. In the day ahead, the US will release the GDP report, however, it is expected that the market won’t show any sharp reaction on a positive results of the US macroeconomic data, as investors have already managed to price in some economic growth of the US after hawkish talks of the Fed members on the last FOMC meeting. In addition to US data, today the pair will also be determined by widespread market trend, backed by recent US-China conflict and the US dollar price dynamics.

 

The GBP/USD pair lost its upside momentum and is again trading southward on the back of recovery of the US dollar. Yesterday the pair received strong bearish impetus in the region of its 8-week highs, having lost nearly 180 pips, on the back of resurgence of the US dollar, triggered by talks of possible avoidance of a trade war between the US and China. However, the pair managed to recover part of its losses and climbed to the level of 1.4200, where again met resistance and slipped to its intraday lows, located at 1.4134 spot, as US bulls are still not ready to give up. Adding to this, still persisting risk aversion, backed by uncertainty in trade relationship between the US and China, is another negative factor for the higher-yielding pound. Today the UK calendar will again not release anything noteworthy, while the US will offer investors GDP numbers, which will be able to help the pair to form its short-term trajectory.

 

The USD/JPY pair attempts to restore its bullish trend, however, still being weighed by broad demand for safety. Swings of the risk sentiment remain the key navigator for the pair this week. Recall, the pair received strong bullish impetus on Monday on the back of talks that the US and China would come to agreeable trade terms that would divert the looming trade war. However, the pair lost its upside momentum and slipped lower, as yesterday the Japanese government resumed hearing testimony on the government’s land sale scandal, where PM Shinzo Abe was involved. And now the pair is again trading northward, trying to recover yesterday’s losses, in wake of the latest news, saying that the N.Korea’s leader Kim Jong Un is committed to denuclearization. This news has sparked the recovery of investors’ interest to risky assets, thus providing support to the pair. However, it is expected that the pair won’t show any strong upside move, as uncertainty around trade conflict between the US and China is still navigating the market. Looking ahead, today the US will publish the GDP report, which will be able to bring some fresh trading opportunities, while risk sentiment will remain the key determinant for the pair on Wednesday.

 

The AUD/USD pair corrected higher from its weekly lows, marked on the level of 0.7675, after notable drawdown, witnessed a day before. The latest weakness of the pair is mainly attributed to strong risk aversion across the market, triggered by conflict between the US and China. However, further recovery lacked momentum and the pair again came under bearish pressure after facing resistance on the level of 0.7700, as risk-off sentiment still navigates the market this Wednesday. On the other hand, some positive developments around trade conflict also did happen. The US and China agreed to discuss the situation to avoid further trade war. Adding to this, bearish correction of metals, such as gold and copper, is also pushing the pair in the negative direction. On the data front, today the US will release GDP numbers which will bring investors fresh trading opportunities during the NA trading session, while risk sentiment will continue to navigate the pair during this trading session.

 

Major events of the day:

US GDP – 15.30 (GMT +3)

US Pending Home Sales – 17.00 (GMT +3)

US Crude Oil Inventories – 17.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2311 R. 1.2521

USDJPY                 S. 104.92 R. 106.10

GBPUSD               S. 1.3978 R. 1.4334

USDCHF               S. 0.9396 R. 0.9544

AUDUSD              S. 0.7621 R. 0.7785

NZDUSD               S. 0.7228 R. 0.7320

USDCAD               S. 1.2779 R. 1.2957

 

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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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