The EUR/USD pair follows broad market trend this Tuesday and corrects lower after its last week’s upside rally. On Monday, the pair met resistance near the level of 1.1800, as the US dollar regained its positive tone. It seems that the lack of news regarding the US-China trade war has allowed the greenback to recover part of its recent losses against its major rivals. But now market’s focus shifts towards German and EU ZEW surveys, while the US data from the labor market will also be able to attract markets attention during the NA session.
The GBP/USD pair recovered some part of its losses after yesterday’s sharp retreat, having entered the area of 1.3270. However, persisting uncertainty around Brexit continues to weight the pound lately. According to the latest headlines, UK PM T. May offered new softer approach to solve Brexit disputes. In respond to this, group of key Brexiteers, featuring Foreign Secretary Boris Johnson and Brexit Secretary David Davis, resigned in protest over the new proposals, which, according to their words, betrays the original referendum results. In addition, today renewed buying interest around the US dollar remains one of the key navigators across the market, which is also limiting pair’s further recovery. On the data front, today both economies will offer us important reports, so investors won’t feel lack of trading opportunities.
The USD/JPY pair extends its sharp northern rally for the second consecutive session, having refreshed its 2-week highs on the level of 111.20. Today one of the main drivers remains recovery of the US dollar after its recent retreat, which is supporting the pair. Moreover, improved buying interest around risky assets is also accelerating pair’s upside this Tuesday. However, further gains of the pair look limited on the back of persisting concerns on the political field of UK, which heats-up demand for safety. Looking ahead, today the US will publish only the JOLTS jobs report, so market sentiment will remain the key driver for the pair during this trading session.
The AUD/USD pair has lost part of its last week’s gains and slipped to its intraday lows, located on the level of 0.7456. Recall, last week the Aussie gained a bullish momentum and pushed the pair into the green territory on the back of positive tone on the commodity market and retreat of the greenback. However, it seems that the pair lost its positive tone, as US bulls have regained the control over the market, putting pressure on the pair. In addition, weaker-than-expected Chinese inflation figures have also limited pair’s chances on further recovery. In the day ahead, the economic calendar will offer us only the US JOLTS jobs report, so market trend and the US dollar price dynamics will continue to determine pair’s near-term trajectory on Tuesday.
Major events of the day:
UK GDP – 11.30 (GMT +3)
UK Manufacturing Production – 11.30 (GMT +3)
German ZEW Economic Sentiment – 12.00 (GMT +3)
US JOLTs Job Openings – 17.00 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1699 R. 1.1817
USDJPY S. 110.14 R. 111.26
GBPUSD S. 1.3099 R. 1.3443
USDCHF S. 0.9829 R. 0.9975
AUDUSD S. 0.7403 R. 0.7515
NZDUSD S. 0.6812 R. 0.6872
USDCAD S. 1.3027 R. 1.3171
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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.