The EUR/USD pair remains bearish for the third consecutive session, having refreshed its 2-week lows on the level of 1.2229 at the start of this week. It seems that demand for the US dollar is still dominating the market, thus limiting any chances of the pair to recover its losses. However, any sharp moves of the pair looks unlikely, as we are heading towards the ECB meeting, where, according to markets expectations, the Bank will once again show dovish stance, leaving its monetary policy highly accommodative. But in today’s event calendar investors will find the German manufacturing PMI report and data from the US housing market, which will bring investors fresh trading opportunities during the NA session.
The GBP/USD pair failed to extend its recent recovery after significant bearish rally, witnessed last week. Recall, the pair received notable bearish impetus last week after a bunch of lower-than-expected British data and dovish rhetoric of the BoE Governor M. Carney, who said that process of the monetary policy tightening could be slowed down due to Brexit uncertainty. However, the pair performed an attempt to recover its positions in Asia, but bears regained control over the pair in Europe, having forced the pair to break through the support of 1.40, as demand for the US dollar is still dominating the market. In the day ahead, the US will release existing home sales data, while broad market trend will remain the key navigator for the pair at the start of this week.
The AUD/USD pair accelerates its bearish trend at the start of this week, having refreshed its 4-month lows on the level of 0.7634. The pair continues to trade into the negative territory this Monday, as the Australian currency is still remaining under pressure of dovish stance of the RBA and weak Australia’s macro data, which made an increase of the interest rate unlikely in near future. Moreover, it is expected that the pair will remain under bearish control on the back of positive dynamics of the US dollar, which continues to climb against its major rivals lately. On the data front, today the US economy will offer us data from the housing market, while investors will also pay attention to the Australia’s inflation data due for release during the next Asian session.
The USD/JPY pair continues to trade northwardtoday, having refreshed its 2-month highs on the level of 107.89. The main reason of pair’s bullish trend could be called the broad demand for the greenback, which is the main determinant on the market lately. Adding to this, improved risk appetite negatively affects the Yen, as on the safe-haven asset, on the back of lack of any fresh developments on the US-China trade conflict and easing concerns on the Middle East. Looking ahead, today we will have pretty calm session ahead, as nothing much is scheduled in the data calendar, so broad market trend will remain the key navigator for the pair this Monday.
Major events of the day:
Prelim. German Manufacturing PMI – 10.30 (GMT +3)
US Existing Home Sales – 17.00 (GMT +3)
BoC Governor S.Poloz’s Speech – 21.00 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2193 R. 1.2399
USDJPY S. 107.11 R. 108.11
GBPUSD S. 1.3937 R. 1.4121
USDCHF S. 0.9676 R. 0.9794
AUDUSD S. 0.7609 R. 0.7761
NZDUSD S. 0.7154 R. 0.7296
USDCAD S. 1.2585 R. 1.2851
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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.