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09 04 11:04
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Daily economic digest from Forex.ee

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The EUR/USD pair struggles to find a direction this Monday, trading within the range of 1.2265-85, while failing to benefit from the decline of the US dollar. The broad sell-off of the US dollar is mostly explained by Friday’s NFP numbers, which came below market expectations. Moreover, subsequent speech of J.Powell also failed to provide the dollar with any support, as the head of the Bank reiterated all the same that we heard before. On the other hand, easing concerns over a US-China trade war give some respite to markets today, thus boosting risk appetite among investors, which negatively affects the common currency. The next risky event for the pair will be the release of the FOMC minutes, which is scheduled for Wednesday, but today the economic calendar won’t bring us anything important, leaving the pair at the mercy of broad market sentiment and the US dollar price dynamics.

 

The GBP/USD pair remains positive today, having refreshed its 8-day highs above the level of 1.4100, on the back of several bullish factors. First, ongoing sell-off of the US dollar, triggered by weaker-then-expected US NFP numbers and unemployment rate, continues to dominate the market this Monday, thus accelerating pair’s upside rally. Moreover, improved risk-on sentiment on the back of easing market speculations regarding a potential US-China trade war also supports the higher-yielding pound at the beginning of this trading week. In the day ahead, nothing important is scheduled in the data calendar for this Monday, so broad market trend will remain the key determinant during this trading session.

 

The NZD/USD pair remains the top gainer of this Asia, having broken through the level of 0.7300. The main reason of pair’s recent upside rally could be called broad weakness of the US dollar, following disappointing NFP numbers, released at the end of the last week. Adding to this, returned risk appetite amid lack of any important data releases this session ahead is another factor, which drives the pair in the northward direction. However, further improvement of risk-on sentiment could be limited, as investors are still awaiting for Chinese respond on the latest D.Trump’s tariffs. Looking ahead, today the pair will continue to follow broad market trend, backed by the US dollar price dynamics, as economic calendar won’t offer us anything noteworthy.

 

The USD/JPY pair trades with a mild bullish bias at the start of this trading week, getting closer to the level of 107, despite broad sell-off of the US dollar. It seems that interest for risky assets has returned to the market on the back of easing concerns over a US-China trade war, thus lending some pressure on the safe-haven yen. However, further bullish dynamics of the pair looks limited, as broad weakness of the US dollar, caused by weak Friday’s data from the US labor market, remains one of the key driving factors across the market. Today widespread trend and the US dollar price dynamics will continue to determine pair’s further direction, as the US hasn’t prepared anything important for this Monday.

 

Major events of the day:

None

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2185 R. 1.2337

USDJPY                 S. 106.36 R. 107.72

GBPUSD               S. 1.3935 R. 1.4181

USDCHF               S. 0.9534 R. 0.9676

AUDUSD              S. 0.7634 R. 0.7718

NZDUSD               S. 0.7222 R. 0.7306

USDCAD               S. 1.2701 R. 1.2833

 

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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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