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01 06 11:06
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Daily economic digest from Forex.ee

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The EUR/USD pair remains pretty much directionless so far this session, keeping its positions just below the level of 1.1700. It seems that the common currency ignores bullish dynamics of the US dollar, thereby protecting the pair from any significant losses. Moreover, lack of further news from Italy has cooled off markets’ concerns over the formation of a coalition between populist parties, which in turn positively affects the common currency this Friday. On the other hand, re-ignited fears of a global trade war, following US President’s announcement that the US would impose tariffs on steel and aluminum, is limiting any further gains of the pair. As for the data, today we will have busy trading session ahead, featuring manufacturing data from the US and Germany, and the US non-farm payrolls, which will be able to determine pair’s further direction on Friday.

 

The GBP/USD pair failed to extend its recovery and today again fell below the level of 1.3300. The pair lost its positive mood after two days of recovery on the back of renewed demand for the greenback, which remains the key driving factor across the market on Friday. In addition, yesterday US President Donald Trump triggered a spike in demand for safety, having announced that the US would impose their steel and aluminum tariffs on three of the US’ biggest trading partners – Canada, Mexico, and the EU. By this announcement, Mr. Trump re-ignited concerns over a global trade war, thereby weighing the pound, as a higher-yielding asset. In the day ahead, the pair will experience pretty volatile session, as the economic calendar will bring us plenty of important data, such as UK and US manufacturing reports, and US non-farm payrolls, which will be able to form pair’s near-term trajectory during the last trading session of this week.

 

The USD/JPY pair regained its positive tone and corrected above the level of 109.00. Today the comeback of the US dollar remains the main driving factor across the market, offering notable support to the pair. Meanwhile, the BoJ today announced reduction in JGB purchases that could be considered by markets as QE program tapering. However, market reaction to this news was limited, as experience shows that these actions will unlikely lead to easing of massive monetary policy stimulation. Looking ahead, further gains of the pair look limited, as now market’s attention remains glued to the major US jobs report. But for now slight cautiousness will continue to dominate the market, offering slight support to the safe-haven yen.

 

The AUD/USD pair remains the weakest asset of the Asian trending session, extending its yesterday’s retreat from 7-day highs, marked on the level of 0.7593 a day before. Renewed weakness of the pair can be explained by ongoing buying interest around the greenback. In addition, weaker-then-expected China’s manufacturing PMI and increased cautiousness ahead of important US employment data also exert pressure on the pair at the end of this week. Besides the NFP report, investors will also pay attention to the US manufacturing data, which will bring additional trading opportunities during the NA session.

 

Major events of the day:

German Manufacturing PMI – 10.55 (GMT +3)

UK Manufacturing PMI – 11.30 (GMT +3)

US Nonfarm Payrolls – 15.30 (GMT +3)

US Unemployment Rate – 15.30 (GMT +3)

US ISM Manufacturing PMI – 17.00 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1602 R. 1.1770

USDJPY                 S. 108.11 R. 109.37

GBPUSD               S. 1.3235 R. 1.3377

USDCHF               S. 0.9786 R. 0.9938

AUDUSD              S. 0.7530 R. 0.7612

NZDUSD               S. 0.6942 R. 0.7052

USDCAD               S. 1.2747 R. 1.3097

 

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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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