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25 08 12:08
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Daily economic digest from Forex.ee

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The EUR/USD pair trades with bearish bias at the end of this week, extending its retreat below the level of 1.1800, having barely reacted on positive data from the German economy. Retreat of the pair is mainly attributed to broad US dollar correction, while typical cautiousness ahead of important event is limiting pair’s chances on recovery, as investors refrain from placing any important directional bets. The key events of this day remain speeches delivered by Fed Chair J.Yellen and ECB President Draghi at the Jackson Hole economic forum. Markets awaits that both heads of regulators will point out on monetary policy courses of Banks, which will strongly boost speculations on the divergence between the Fed and ECB. In addition to Jackson Hole Symposium, the US economy will release durable goods data in early NA session, which will also be able to bring some directional impetus to the pair in the day ahead.

 

The GBP/USD pair remains largely unchanged at the end of this week that clearly shows that the market still keeps cautious stance on the back of the upcoming second round of Jackson Hole Symposium. Today investors eagerly await for Fed Chair J.Yellen’s speech, as it may contain some fresh hints on further Fed monetary policy course, which in turn will have a significant impact on the US dollar. Moreover, renewed jitters regarding Brexit negotiations and ongoing uncertainty on the US political field are negatively affecting demand for higher-yielding assets, thereby keeping the pair capped near the level of 1.2800 at the end of this week. Besides the economic symposium, investors will also pay attention to the US Core Durable Goods Orders report, which will be able to bring additional trading opportunities to market participant during the NA session.

 

The USD/JPY pair keeps bid tone for the second session in a row, as mild correction of the US dollar continues to influence the market. However, the pair couldn’t to keep its positions and had retreated lower by the European opening, after having faced resistance near the level of 110.00, as better-than-expected Japanese CPI figures supported the yen. Adding to this, persisting nervousness ahead of much-awaited speech by the Fed Chair Janet Yellen at Jackson Hole Symposium, which may shed some light on Fed further monetary policy steps, will keep pair’s further gains capped. Today investors will also pay attention to the release of US durable goods orders, which are scheduled on the NA session, however, it is expected that the reaction on it will be limited amid broad market’s cautiousness.

 

The USD/CAD pair extends its multiday streak of losses for the third consecutive session, refreshing its 4-week lows at the level of 1.2500, despite broad US dollar correction. It seems that ongoing uncertainty on the US political field, triggered by Tuesday’s US President D.Trump’s threat to close down the US government in order to approve funding for a wall build with Mexico, is still weighing on the pair. Adding to this, ongoing recovery of oil prices are lending support to the commodity-linked Loonie, thereby also collaborating with pair’s retreat. Looking ahead, today all traders’ attention will remain focused on the upcoming Jackson Hole Symposium, where head bankers will talk on monetary policies issues, while widespread cautiousness will restrain investors from making any important decisions.

 

The main events of the day:

German Ifo Business Climate Index – 11.00 (GMT +3)

US Core Durable Goods Orders – 15.30 (GMT +3)

Fed Chair J.Yellen’s speech – 17.00 (GMT +3)

ECB President M.Draghi’s speech – 22.00 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1766 R. 1.1834

USDJPY                 S. 108.57 R. 110.09

GBPUSD               S. 1.2740 R. 1.2866

USDCHF               S. 0.9599 R. 0.9695

AUDUSD              S. 0.7844 R. 0.7944

NZDUSD               S. 0.7167 R. 0.7255

USDCAD               S. 1.2483 R. 1.2579

 

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OCTL2P Installation and Activation Print

One Click Trading Level2 Plugin

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.

Installation and activation

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.

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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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Indicate directory where you previously installed MetaTrader 4. To start the installation click Install.

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When the installation process is finished, the Next button will be activated.

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Click Finish to close the installation dialog box. Activate Launch MT terminal option if you want MT4 launched after you click Finish.

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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.

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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.

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If the EA is activated successfully, a smiley will be seen in the top right corner of the chart.

MT4 Installation Print

Trading platform MetaTrader 4

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.

System requirements: Microsoft® Windows® XP or later.

Installation

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.

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Read the license agreement, select the check box Yes, I agree with all terms of this license agreement and click Next to proceed.

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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.

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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.

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