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20 04 11:04
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Daily economic digest from Forex.ee

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The EUR/USD pair was consolidating its positions during the Asian session, trading within 1.2334-53 range, amid lack of any drivers. Yesterday the pair received notable bearish impetus on the back of attempts of US bulls to retake control over the pair. However, further retreat lacked a momentum and the pair entered its narrow corridor. Moreover, the subdued dynamics of the pair could be additionally explained by increasing cautiousness, as we are heading towards the ECB meeting, which will take place next week already. But for today, the economic calendar will remain broadly silent, so widespread market trend will remain the key navigator for the pair at the last trading session of this week.

 

The GBP/USD pair accelerates its downside run, having refreshed its 2-week lows at 1.4046 spot this morning. The pound has been experiencing hard times so far this week, trading in the negative direction for the fourth consecutive session. The main reason of pair’s retreat could be called series of disappointing data from the UK economy, which significantly lowered prospects of a rate hike on the next BoE meeting. Adding to this, dovish comments of the BoE Governor M. Carney also call into question the rate hike next month. Yesterday, Mr. Carney delivered his speech, where he was speaking about higher rates, expected later this year, while noting that uncertainty around Brexit could slow down the process of policy tightening. Looking ahead, today the economic calendar won’t offer us anything important, leaving the pair at the mercy of broad market trend at the end of this week.

 

The USD/JPY pair remains bullish for the third session in a row, having refreshed its weekly highs at 107.73 spot. It seems that recent recovery of the US dollar outgrew into to a full bullish rally, overshadowing all other factors at the end of this week. Adding to this, growth pace of the Japanese inflation didn’t show any improvement, as was indicated by the latest data, which also adds some weakness to the yen, as it means that the monetary policy of the BoJ will remain highly accommodative. On the data front, today the US calendar will offer investors only second tier data, which won’t have any impact on the pair, so the US dollar price dynamics will remain as an exclusive driver for the pair this Friday.

 

The NZD/USD pair remains the main outsider of this session, having refreshed its 2-week lows at 0.7234 spot on the back of several bullish factors. First, today the demand for the US dollar dominates the market, which is the main determinant for the pair, pushing it to a negative territory. Moreover, another swing in risk sentiment also negatively affects positions of the higher-yielding Kiwi, thus accelerating its decline against its major competitors. Today in absence of any important data releases the US dollar price actions will remain the key determinant for the pair during this trading session.

 

Major events of the day:

Canada Core CPI – 15.30 (GMT +3)

Canada Core Retail Sales – 15.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2287 R. 1.2429

USDJPY                 S. 106.98 R. 107.70

GBPUSD               S. 1.3952 R. 1.4310

USDCHF               S. 0.9642 R. 0.9758

AUDUSD              S. 0.7659 R. 0.7847

NZDUSD               S. 0.7208 R. 0.7374

USDCAD               S. 1.2552 R. 1.2734

 

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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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