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28 08 12:08
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Daily economic digest from Forex.ee

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The EUR/USD pair continues to keep positive mood, remaining in the region of its 2-1/2 year tops, marked at 1.1960 earlier this session. Seems that bulls have not given up yet after Friday’s 150 pips upside rally, following speeches of both heads of regulators at the Jackson Hole Symposium on Friday. The Fed Chair J.Yellen’s speech wasn’t very informative, lacking of any details on Fed further monetary policy, that, in turn, disappointed the market and triggered broad sell-off of the US currency. On the other hand, ECB President M.Draghi in his speech showed intention of beginning the QE program tapering, however, not specifying when and how the regulator will implement these measures. Also Mr. Draghi noted that the EU economy continues to show sustainable recovery, while adding that accommodative monetary policy will remain appropriate for a while. In general, the speech of the ECB President was taken by markets as hawkish, providing additional support to the main currency pair. Today both economic calendars won’t bring any important data reports, so broad market trend will remain as a key determinant for the pair at the start of this week.

 

The GBP/USD pair opened today with strong bullish gap in the region of its weekly highs, located at 1.2925 level, on the back of broad US dollar weakness, backed by Friday’s disappointment. However, seems that the pair has lost a smile and failed to keep its today’s gains, retreating below the level of 1.2900, on the back of concerns regarding a third round of Brexit negotiations, which will take place later this week. On the other hand, it is expected that the pair will keep its positive mood during the first working day of this week, as market participants keep digesting Friday’s Fed Chair J.Yellen’s speech, which came short of market’s expectations, failing to deliver any hints on further Fed monetary policy path. Today in absence of any major market moving economic releases from both sides, the pair will remain at the mercy of USD price dynamics, which will continue to navigate the pair throughout this session.

 

The USD/JPY pair extends its Friday’s retreat, getting towards the level of 109.00 and failing to correct higher at the start of this week, as broadly weaker US dollar dominates the market. On Friday, the pair fell sharply on the back of not so hawkish Fed Chair Janet Yellen’s speech at Jackson Hole Symposium, which failed to provide any surprise to the market regarding central bank’s near-term monetary policy outlook. Moreover, ongoing cautiousness among investors, bolstered by headlines about another missile launch by North Korea during the weekend, supports safe-haven assets this Monday, thereby collaborating with pair’s downside traction. Looking ahead, today we will have pretty quiet session, as the US economic calendar won’t bring any relevant data, leaving the pair at the mercy of the US dollar dynamics and broad market risk trend.

 

The AUD/USD pair shows subdued trading dynamics on Monday, however, remaining within striking distance of weekly highs, posted at 0.7954 spot on Friday on the back of disappointing Fed Chair J.Yellen’s speech. The head of the regulator failed to match market’s expectations, as she remained silent on the economic and monetary policy implications. On the other hand, the major remains capped below the level of 0.7950, as risk-off trend, underpinned by ongoing tensions between the US and N.Korea, is weighing on higher yielding assets, such as the Aussie. Today broad market trend and USD price dynamics will remain as key navigators for the pair, as the US data calendar lacks of any fundamental reports in the session ahead.

 

The main events of the day:

None

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1715 R. 1.2043

USDJPY                 S. 108.69 R. 110.15

GBPUSD               S. 1.2757 R. 1.2947

USDCHF               S. 0.9481 R. 0.9701

AUDUSD              S. 0.7854 R. 0.7992

NZDUSD               S. 0.7169 R. 0.7293

USDCAD               S. 1.2421 R. 1.2569

 

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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.

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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.

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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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