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07 05 10:05
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Daily economic digest from Forex.ee

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The EUR/USD pair follows broad market trend this Monday, having refreshed its intraday lows at 1.1938 spot. It seems that demand for the US dollar has improved across the market, forcing the pair to step closer to its multi-month lows, marked on the level of 1.1911 last Friday in wake of data from the US labor market. At the end of the last week, the US released the NFP report, which failed to match market expectations, however, the US dollar still rose against its major competitors, as the overall US unemployment rate showed positive results. Moreover, growing divergence between the ECB and Fed also keeps the pair under pressure lately on the back of market expectations for two Fed interest rate hikes this year. As for the data for today, the economic calendar won’t be able to offer us anything interesting, so the pair will continue to follow broad market trend during this trading session.

 

The GBP/USD pair remains highly pressured at the start of this working week, trading in the region of its 4-month lows, marked below the level of 1.3500 during the last trading session. The pair have lost more than 8 cents for the last 3 weeks, which could be explained by lowered odds of a rate hike on the next BoE meeting, which will take place this Thursday already. Earlier this year, the BoE showed intention to increase its refi rate on the back of acceleration of the UK economic growth. However, market’s expectations of a rate hike faded away after the most part of UK economic indicators came in red color, forcing investors to look skeptical at the possible tightening of the BoE monetary policy. Moreover, improved demand for the US dollar and increased divergence between the Fed and BoE also contribute to the sharp downside rally of the pair. In the day ahead, broad market trend will continue to play a role of the key navigator for the pair, as the economic calendar won’t bring us anything interesting this Monday.

 

The NZD/USD pair failed to extend its recovery mode and eased part of its overnight gains, stepping closer to the level of 0.7000. The pair continues to stay in red zone, close to its 4-month lows, marked at 0.6985 spot last week, as buying interest around the greenback, additionally boosted by positive US unemployment rate, continues to dominate across the market at the start of this working week. On the other hand, bullish rally of oil prices, which have refreshed their multi-year highs, offers some support to the commodity-linked Kiwi, thus limiting further downside moves of the pair. The next risky event of the pair is RBNZ meeting, which is scheduled for Thursday, but today the economic calendar won’t offer us anything relevant, leaving the pair at the mercy of market trend.

 

The AUD/USD pair is the worst performer of this trading session, moving in the direction of it yearly lows, located on the level of 0.7473. This Monday, the pair again came under bearish pressure after 3 consecutive days at a profit on the back of renewed buying interest around the US dollar. Moreover, bloc of mixed data from the Australian economy also collaborated with pair’s recent retreat. In the longer term, it is expected that the pair will keep its bearish tone on the back of increased divergence between the Fed and RBA, as the US regulator is expected to implement 2 rate hikes this year, while the Australian bank will keep its interest rate flat. Looking ahead, today the US data calendar won’t bring us anything important, so investors will focus their attention on the Australian retail sales data due for release during the next Asian trading session.

 

Major events of the day:

None

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1870 R. 1.2040

USDJPY                 S. 108.35 R. 109.61

GBPUSD               S. 1.3432 R. 1.3632

USDCHF               S. 0.9934 R. 1.0054

AUDUSD              S. 0.7460 R. 0.7598

NZDUSD               S. 0.6961 R. 0.7081

USDCAD               S. 1.2783 R. 1.2947

 

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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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