The EUR/USD pair is trading on a positive note so far this week, having reached its 2-week highs on the level of 1.1766. Recent positive rally of the pair can be mainly explained by recent market talks that the ECB can discuss the exit of its QE program on the next meeting, which will take place next week. Nevertheless, chances that the EU regulator will reduce the economy stimulation are pretty low, as latest EZ economic data didn’t show any positive dynamics, therefore most likely the ECB will keep its monetary policy accommodative. As for today, further dynamics of the pair will likely remain bullish, however, no aggressive movements are expected, as concerns regarding political situation in Italy are still weighing the common currency. On Wednesday, the economic calendar won’t offer anything important to investors, so the pair will continue to follow broad market trend during today session.
The GBP/USD pair remains well bid this Wednesday, having tested the area of 1.3400. It seems that the pound is still benefiting from streak of positive economic data, featuring yesterday’s upbeat UK service PMI. Recall, the pair fell from a high of 1.4376, marked on April, on the back of slowdown in the UK’s economy and not enough hawkish decision of the BoE at the May meeting. However, recent series of positive data has re-ignited market’s hopes of a BoE rate hike this year, allowing the pair to extend its recovery from its half-year lows, marked last week near the level of 1.3200. In the day ahead, the economic calendar will bring us only second-tier data reports, which won’t have any effect on the pair, so broad market trend will remain the key driver for GBP/USD this Wednesday.
The USD/CAD pair remains offered in the middle of the week, having refreshed its intraday lows on the level of 1.2928, on news of potential exemption of Canada from US metals tariffs. On Tuesday, Treasury Secretary S. Mnuchin urged President Trump to exempt Canada from steel and aluminum tariffs. This news offered notable support to the Loonie, allowing the pair to extend its downside trend. However, the final decision has not yet been taken, so now markets are awaiting for further actions from the US. In addition, the greenback is showing today sluggish dynamics that also negatively affects the pair this Wednesday. On the data front, today markets will focus their attention on the Canada Ivey PMI report, while US crude oil stockpiles will also be able to bring some impetus to the commodity-linked asset.
The AUD/USD pair regained its positive tone after decline in Tuesday’s trading and again refreshed its 6-week highs on the level of 0.7672. The Aussie emerged as the top gainer of this Asia on the back of several bullish factors. First, the pair received notable bullish impetus on the back of Australia’s GDP figures, which came above markets expectations and forced traders to forget about yesterday’s dovish RBA meeting. Moreover, ongoing demand for risky assets, additionally underpinned by talks about potential exemption of Canada from steel and aluminum tariffs, also supports the higher-yielding Aussie. Today the economic calendar of the US won’t offer investors anything relevant, so the pair will continue to follow broad market trend during today’s trades.
Major events of the day:
Canada Ivey PMI – 17.00 (GMT +3)
US Crude Oil Inventories – 17.30 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1620 R. 1.1782
USDJPY S. 109.20 R. 110.34
GBPUSD S. 1.3261 R. 1.3477
USDCHF S. 0.9794 R. 0.9920
AUDUSD S. 0.7560 R. 0.7684
NZDUSD S. 0.6975 R. 0.7071
USDCAD S. 1.2820 R. 1.3144
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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.