The EUR/USD pair follows broad market trend this Tuesday, having broken through its resistance level of 1.2400. Recent gains of the pair could be mostly explained by weaker positions of the US dollar, as the US-China trade conflict and geopolitical concerns in the Middle East are still weighing the US currency. Adding to this, widespread demand for safety, backed by conflicts, where the US is involved, also supports the common currency lately, which, in turn, accelerates pair’s upside trend. On the data front, today we are expecting eventful session, as both economies have prepared important data reports, which will help the pair to form its further near-term trajectory this Tuesday.
The GBP/USD pair extends its northern march, having once again refreshed its 2-year highs at 1.4370 spot in European morning, which is the highest level since Brexit referendum. Seems that the market continues actively to price in a potential BoE rate hike, which is expected on the next meeting of the regulator. Moreover, broad retreat of the US dollar also supports the pair lately, as investors are still digesting recent trade conflict between the US and China, thus accelerating growth of the pound against its American counterpart. Today all traders’ attention will remain glued to the data from the UK labor market, which could affect market’s expectations of further BoE rate changes.
The AUD/USD pair lost its positive trend and gave away part of its yesterday’s gains, having marked the lower end of its daily range at 0.7760 spot. The main reason of pair’s slight retreat could be called dovish RBA minutes, which were released during the Asian trading session. As it was widely expected the Bank didn’t surprise the market with any optimism regarding its further monetary policy. The policymakers agreed that there is no clear reason for interest rate changes in near-term projection. Moreover, the protocols showed some concerns of the regulator regarding risks for the Australian economy, which are related to household debt and China’s economic situation. However, the pair managed to turn around and gain some pips in early Europe on the back of broad sell-off of the US dollar, which remains one of the key driving factors across the market lately. In the day ahead, the US data calendar will bring as a bloc of data from the labor market, however, it is expected that widespread trend will continue to play the role of a key determinant for the pair.
The USD/JPY pair remains bearish for the second day in a row, having broken through the resistance of 107.00 this morning. Recent decline of the pair is mostly attributed to retreat of the US dollar against its major rivals on the back of latest conflicts, were the US is involved (the US-China trade conflict, geopolitical conflict in the Middle East). Moreover, it seems that risk-off sentiment continues to dominate the market in the first half of this week, as markets are still digesting recent developments in Syria. Adding to this, broad demand for safety received extra boost after China released bloc of mixed data, thereby accelerating decline of the pair. Later ahead, the US will publish data from the housing market, however, risk sentiment and the US dollar dynamics will remain key navigators for the pair during this trading session.
Major events of the day:
UK Average Earnings Index +Bonus – 11.30 (GMT +3)
UK Claimant Count Change – 11.30 (GMT +3)
German ZEW Economic Sentiment – 12.00 (GMT +3)
US Building Permits – 15.30 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2291 R. 1.2437
USDJPY S. 106.67 R. 107.81
GBPUSD S. 1.4184 R. 1.4420
USDCHF S. 0.9544 R. 0.9664
AUDUSD S. 0.7741 R. 0.7803
NZDUSD S. 0.7317 R. 0.7393
USDCAD S. 1.2525 R. 1.2643
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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.