The EUR/USD pair refreshed its nearly 2-month lows in Asia at 1.2285 spot and now is keeping its positions near that level. The main reason of pair’s recent retreat could be called broad demand for the US dollar, which dominated the market the last few sessions. However, it seems that US bulls came out of steam this Tuesday, allowing the pair to stall its recent downside trend during Asian trades. Meanwhile, caution among investors continues to gain momentum, thus limiting pair’s sharp moves, as we are getting closer to the ECB meeting, which will be held this Thursday. On the data front, today both economies have prepared important data releases for this session, however, the US dollar price dynamics will remain as a key navigator for the pair on Tuesday.
The GBP/USD pair is no exception today, having paused its downside rally near monthly lows, marked at 1.3918 level. It seems that the pair has entered consolidation phase after five consecutive days of retreat, caused by series of disappointing data from the UK economy and bullish dynamics of the US dollar. However, the pair managed to stall its retreat in wake of downside correction of the greenback, which offered some respite to the pair. In addition to that, ongoing demand for risky assets, underpinned by easing fears over the Middle East tensions and the US-China trade conflict, also provides some support to the higher-yielding pound so far this week. Today the UK data calendar will remain silent, while the US will publish slew of important data reports during the NA session, which will be able to set up pair’s near-term trajectory.
The AUD/USD pair has finally stalled its retreat and now is trading in the region of its multi month lows, marked earlier this session on the level of 0.7578. In Asia, the pair received another bearish impetus in wake of weaker-than-expected Australian inflation data, which again hinted at the fact that the RBA will adhere to accommodative monetary policy, despite the world trend of raising interest rates. However, the pair managed to bounce off its recent lows and recovered to the area of 0.7600, as Australian bears look exhausted after significant downside rally. Moreover, slight correction of the US dollar also contributes to pair’s recent recovery. In the day ahead, investors will focus their attention on the bloc of data from the US economy, while price dynamics of the greenback will remain the key navigator for the pair during this trading session.
The USD/JPY pair follows broad market trend today, having slowed down bullish rally near its fresh 2-month highs, located at 108.87 spot. The correction of the US dollar today remains the key driving factor across the market, allowing the pair to enter consolidation phase near its recent highs. However, absence of any news headline regarding conflicts, where the US was involved, supports risk-on sentiment across the market, which in turn is limiting pair’s chances for downside correction. Later today, the US data calendar will offer investors another portion of data from the housing market and CB consumer confidence, which will be able to bring fresh trading opportunities during the NA session.
Major events of the day:
German Ifo Business Climate Index – 11.00 (GMT +3)
US CB Consumer Confidence – 17.00 (GMT +3)
US New Home Sales – 17.00 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2139 R. 1.2323
USDJPY S. 107.26 R. 109.46
GBPUSD S. 1.3860 R. 1.4070
USDCHF S. 0.9716 R. 0.9820
AUDUSD S. 0.7545 R. 0.7711
NZDUSD S. 0.7097 R. 0.7243
USDCAD S. 1.2700 R. 1.2932
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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.