The EUR/USD pair trades today in the north direction after yesterday’s retreat, having refreshed its intraday highs in the region of 1.1670. On Tuesday, the pair lost its bullish momentum and corrected lower after three days at a profit on the back of renewed buying interest around the US dollar. However, rally of the US dollar was short-lived and the pair regained its positive tone. Moreover, significantly improved demand for safety due to ongoing battle of the US against the rest of the world also offers some support to the common currency in the middle of this week. In the day ahead, investors will focus their attention on the slew of data from the US economy, while the EU data calendar remains empty. However, widespread sentiment will remain the key driver for the pair on Wednesday.
The GBP/USD pair consolidates its positions on Wednesday, trading within 1.3210-30 range, after yesterday’s retreat. On Tuesday, the pair received notable bearish impetus, following dovish comments by BoE MPC member John Haskel, who said that a rate cut is possible if UK economy continues to lose steam. Meanwhile, now markets’ attention is shifting towards the speech of BoE Governor M. Carny, who will speak straight after the publication of the BoE Financial Stability Report, and is expected to bring fresh details about UK’s economy and BoE’s further action. In addition, investors today will focus their attention on the bloc of data from the US economy, which will also be able to bring some trading opportunities, while broad risk-off sentiment will continue to affect the pair during this trading session.
The NZD/USD pair remains one of the weakest assets of Asia, having tested its 7-month lows on the level of 0.6811. Moreover, the pair totally ignored NZ trade balance numbers, which came above market expectations. The main reason of pair’s retreat can be called broad demand for safety, additionally underpinned by last headlines, saying that President Xi Jinping called China to prepare for a trade war. Next important event for the pair will be RBNZ’s cash rate decision, scheduled for the next Asian session. It is expected that the Bank won’t offer us any surprises, however, any changes in monetary policy may cause volatility.
The USD/JPY pair remains pressured in the middle of the week, having lost part of its yesterday’s gains and dropped below the level of 110.00. Yesterday the pair managed to recover part of its recent losses on the back of attempts of the US dollar to recover its positions across the market. However, bears again took control over the pair this Wednesday, as risk-off sentiment is still gripping the market. According to the latest headlines, Chinese President Xi Jinping has started preparations for a full-blown trade war with the US. On the other side, on Tuesday Trump Administration signaled that it would back down on new investment restrictions against China, however, cautious tone continues to dominate the market as the US-China trade conflict went too far and markets are awaiting for fresh actions from both sides. Next for release are US durable goods orders and pending home sales, which will be able to influence the pair during the NA session, while broad market sentiment will remain the key navigator for the pair on Wednesday.
Major events of the day:
BoE Governor M. Carney’s Speech – 11.30 (GMT +3)
US Core Durable Goods Orders – 15.30 (GMT +3)
US Pending Home Sales – 17.00 (GMT +3)
US Crude Oil Inventories – 17.30 (GMT +3)
BoC Governor S. Poloz’s Speech – 22.00 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1582 R. 1.1754
USDJPY S. 109.00 R. 110.74
GBPUSD S. 1.3129 R. 1.3351
USDCHF S. 0.9831 R. 0.9961
AUDUSD S. 0.7355 R. 0.7441
NZDUSD S. 0.6811 R. 0.6923
USDCAD S. 1.3242 R. 1.3366
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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.
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.
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.