The EUR/USD pair extends its bullish rally, having broken through the level of 1.1900 in early Europe, on the back of several bullish factors, which are setting the direction for the pair this Thursday. The pair continues advancing northward, having left behind its multi-year lows, marked in the vicinity of 1.1500 last week. One of the main drivers for the pair remains widespread talks that the ECB will likely discuss the timetable for ending its stimulation program on the next meeting. In addition, ongoing retreat of the US dollar also contributes to a sharp correction of the pair. In the day ahead, both economic calendars won’t offer us anything important, leaving again the pair at the mercy of widespread sentiment during today’s trades.
The GBP/USD pair extends its northern rally, now testing the region of 1.3440, after bottoming its 6-month lows near the level of 1.3200 last week. It seems that the pound has recovered its positive tone after streak of red UK economic figures, which showed a slowdown in the British economy for the first quarter of 2018, thereby forcing the BoE to keep its rate unchanged, despite highly anticipated rate hike in May. However, latest UK macrostatistics showed slight pickup in the UK economy, so now investors are expecting a BoE rate hike sometime in the Q3 of this year that positively affects the pound across the board. On the other hand, further prospects of the pair remain unclear, as investors are waiting for any further developments on Brexit that is another source of uncertainty for the UK economy. As for the data, today we will have another quiet session amid lack of any fundamentals from both sides, so broad market trend will remain as an exclusive driver for the pair this Thursday.
The AUD/USD pair stepped back from its 2-week highs, marked on the level of 0.7676 on Wednesday, however, still trading on a positive note. Recall, yesterday the pair received notable bullish impetus on the back of upbeat Australian GDP figures, closing eyes to a dovish stance of the RBA on its last meeting, held earlier this week. However, it seems that the pair stalled its upside traction in Asia on the back of lower-then-expected Australian trade balance figures. On the other hand, the US dollar continues to show bearish dynamics lately that remains one of the key driving factors across the market, limiting any further retreat of the pair. Today we will witness another quiet data session, as the US calendar will offer us only second-tier data reports in the same way as Australia’s economy in Asia.
The USD/JPY pair lost its positive tone in Thursday and dropped below the level of 110.00 from its 2-week highs, located on the level of 110.26. Recent retreat of the pair could be mainly explained by subdued dynamics of the US dollar, as most of market participants believe that Fed rate hike next week is a done deal. In addition, growing cautiousness ahead of historic meeting between US President D. Trump and N. Korea leader Kim Jong-un, which will take place on June 12, despite all disagreements between sides, also provides some support to the safe-haven yen. In the day ahead, the pair will continue to follow broad market trend, as nothing important is scheduled in the economic data calendar for this Thursday.
Major events of the day:
BoC Governor S. Poloz’s Speech – 18.15 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1677 R. 1.1845
USDJPY S. 109.58 R. 110.58
GBPUSD S. 1.3346 R. 1.3478
USDCHF S. 0.9811 R. 0.9915
AUDUSD S. 0.7588 R. 0.7716
NZDUSD S. 0.6994 R. 0.7080
USDCAD S. 1.2797 R. 1.3053
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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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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.