The EUR/USD pair stalled its bullish trends after four consecutive sessions at a profit. Yesterday, the pair managed to refresh its 3-week highs on the level of 1.1840 on the back of widespread speculations that the ECB can discuss tapering of its QE program next week. So now we can say that the ECB meeting, which will be held next Thursday, has significantly increased in importance. However, today’s retreat can be attributed to correction of the pair after its notable growth and to attempts of the US dollar to regain its positions across the market. Meanwhile, the next important event for the pair remains G7 meeting, as investors expect that participants of the summit will discuss the ongoing trade conflicts. Moreover, French President Emmanuel Macron has already managed to speak out against the US protectionism policy and metal tariffs in particular. Besides the important G7 meeting, nothing else is scheduled in the event calendar for this Friday, so any developments regarding a potential trade war will remain in center stage.
The GBP/USD pair was flat in Asia, keeping its positions within 1.3410-30 range. Yesterday the pair witnessed pretty volatile session, having stepped back from its 2-week highs, marked on the level of 1.3471, on the back of rumors that the Brexit Secretary David Davis might resign. However, the decline of the pair was short-lived and the pair entered consolidation phase after brief correction. Meanwhile, now the pair remains under pressure, keeping its position in the lower end of its intraday range, as improved risk-off sentiments are weighing higher-yielding pound. As for the data, nothing important will be released during today’s trades, so widespread sentiment will remain the key driving factor for the pair during this Friday.
The USD/JPY pair failed to determine its direction in Asia amid confrontation between bulls and bears this Friday, however, keeping its positions below the level of 110.00. Today improved demand for less risky assets remains one of the main drivers across the board, as markets are awaiting G7 summit and fresh developments regarding a global trade war. On the other hand, the US dollar stalled its broad retreat and was attempting to correct higher in Asia, thereby limiting any further retreat of the pair. In addition, slew of negative Japanese figures, featuring GDB report, also weighed the yen, as it once again pointed out that the BoJ will continue to adhere its ultra-easy monetary policy. Looking ahead, as it has become a habit, today the US data calendar will offer us only second-tier data, so broad market trend will again remain as a key driver for the pair at the end of this week.
The AUD/USD pair extends its yesterday’s retreat, having spiked the level of 0.7600. Today increasing cautiousness across the market remains one of the key driving factors, as investors’ attention remains glued to the G7 summit, where markets expect to see fresh developments on a global trade war, and to the Fed meeting, which will be held next Wednesday already. In addition, the pair received some extra bearish impetus in Asia, caused by red Chinese trade balance figures, as Chine is the biggest trade partner of Australia. On the data front, nothing important is expected to be released, so the pair again will follow broad market trend this Friday.
Major events of the day:
Canada Employment Change – 15.30 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1735 R. 1.1873
USDJPY S. 109.08 R. 110.50
GBPUSD S. 1.3323 R. 1.3521
USDCHF S. 0.9740 R. 0.9902
AUDUSD S. 0.7576 R. 0.7698
NZDUSD S. 0.7001 R. 0.7071
USDCAD S. 1.2893 R. 1.3041
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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.