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16 05 11:05
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Daily economic digest from Forex.ee

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The EUR/USD pair remains broadly unchanged since today’s opening, having stuck in the region its multi-month lows, marked on the level of 1.1816 earlier this session. Yesterday the pair came under renewed bearish pressure in wake of increased demand for the greenback, despite weak US retail sales numbers. Recent bearish dynamics of the pair could be explained by intentions of the Fed to implement tightening measures to its monetary policy, which increases the divergence between the Fed and ECB, as the European regulator continues to remain in wait-and-see mode. Today during the European session investors will focus their attention on the first-tier EU CPI data and speech of the ECB president M. Draghi, while the NA session will bring us data from the US housing market, which will also help the pair to form its near-term trajectory.

 

The GBP/USD pair extends its yesterday’s corrective upside move from its 5-month lows, marked on the level of 1.3451. Yesterday’s retreat is mostly attributed to another spike of demand for the US dollar across the market. Moreover, the pound continues to suffer from recent dovish outcome of the BoE meeting, where the regulator left its interest rate unchanged on the back of decline in the UK economy. And finally another set of weak data from the UK labor market, published on Tuesday, also negatively affected positions of the pound, limiting its chances of recovery. Today the UK data calendar won’t bring investors anything interesting, while the US will publish data from the housing market, which will offer investors fresh trading opportunities during the NA session.

 

The USD/JPY pair corrects lower this Wednesday, after testing its 3.5-month highs, marked on the level of 110.45. Moreover, markets mostly ignored negative Japan’s GDP figures, not offering any support to the pair during the Asian session. The main driver for the pair remains the US dollar price dynamics, which continues to push the pair in the north direction. However, it seems that today US bulls took a short breather after another upside rally of the greenback against its major rivals, witnessed a day before. In addition to that, slightly increased demand for safety also offers some support to the yen, thus weighing the pair. As for the data, today the US economic calendar will offer investors only the building permits report, again leaving the pair at the mercy of US dollar price actions.

 

The NZD/USD pair again is trying to recover from its 5-month lows, located on the level of 0.6851. The pair continues to stay negative so far this week, which could be mainly explained by ongoing demand for the US dollar. However, it seems that the greenback eased pressure on the market this Wednesday, allowing the pair recover some ground. Moreover, ongoing rally in oil prices, which recently refreshed its 3.5-year highs, offer some support to the commodity-linked Kiwi, limiting retreat of the pair. Looking ahead, today the US economic calendar will bring us data from the housing market and oil stockpiles, while broad market trend, determined by the US dollar price dynamics, will continue to navigate the  pair during this trading session.

 

Major events of the day:

EU CPI – 12.00 (GMT +3)

ECB President M. Draghi’s Speech – 15.00 (GMT +3)

US Building Permits – 15.30 (GMT +3)

US Crude Oil Inventories – 17.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1747 R. 1.1985

USDJPY                 S. 109.33 R. 110.97

GBPUSD               S. 1.3361 R. 1.3687

USDCHF               S. 0.9954 R. 1.0072

AUDUSD              S. 0.7395 R. 0.7577

NZDUSD               S. 0.6810 R. 0.6952

USDCAD               S. 1.2718 R. 1.3010

 

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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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