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04 09 12:09
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Daily economic digest from Forex.ee

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The EUR/USD pair opened today with a bullish gap, consolidating its positions near the level of 1.1880 during the Asian session on the back of recent news that North Korea successfully tested a hydrogen bomb, which has triggered new wave of risk aversions across the market. The reaction of the market on the latest events is not a surprise, as persisting nervousness, backed by ongoing tensions around the Korean Peninsula, grips the market for the last couple of weeks. However, the pair managed to break out of its consolidation phase and rose above the level of 1.1900 in the European morning, as risk-off sentiments are supporting euro’s funding currency status. Moreover, Friday’s disappointing US jobs data, which dampened hopes of a Dec Fed rate hike, also collaborates with pair’s upside at the start of this week. Expected that the pair will continue to show low volatility level today amid thin trading conditions, backed by lack of any important data releases from the European economic calendar and the Labor Day holiday in the US markets.

 

The dollar/yen pair came under renewed selling pressure after brief consolidation, witnessed during the Asian trades, as broad flight to safety navigates the market at the start of this working week. The major continues to keep its offered tone so far this session, as the yen receives strong support from the demand on safe-haven assets, triggered by recent headlines, saying that Pyongyang conducted hydrogen bomb test, which is the sixth nuclear test since 2006. In response to that, Japan’s PM Shinso Abe and S.Korea’s President Moon Jae-in agree to apply strong sanctions on N.Korea until it decides to come to dialogue. Moreover, the weakness around the greenback also pressures on the pair, as investors are still digesting Friday’s disappointment from the US labour market that limits any chances of the US currency to recover its positions. On the data front, today we have absolutely empty data calendar, as US markets will remain closed in observance of Labor Day, leaving the pair at the mercy of widespread risk trend throughout this trading session.

 

The GBP/USD pair was trading around a flat line near the level of 1.2960 in 20 pips narrow range during Asia, as market’s sentiments remained subdued amid escalating conflict around N.Korea and closed US markets. Expected that the pair will continue to trade under pressure later today, as recent headlines about N.Korea nuke test spooked the market, which in turn is negatively affecting higher-yielding GBP. On the other hand, ongoing weakness of the US dollar, backed by downbeat US jobs data released last Friday, is limiting pair’s further downside traction. Now all investors’ attention remains glued to the UK manufacturing PMI report for fresh directional impetus, while further USD price actions and broad risk-aversions will continue to navigate the pair throughout this trading session.

 

The BTC/USD pair extends its downside correction today, losing about 500 USD since its ultimate highs, posted at 4960.30 on Friday. By the moment of writing Bitcoin was trading at the 4446.50 spot, while its market cap remained above the level of 70 billion USD, according the latest data available on the coinmarketcap.com. Recent retreat of Bitcoin is mainly attributed to profit taking actions after the pair once again hit its absolute tops. However, expected that cryptocurrency’s upside rally is not over yet, as investors are still cheering up Bitcoin after it survived recent improvements. Moreover, expanding popularity of the digital cash also provides support to the BTC/USD pair.

 

The main events of the day:

US – Labor Day

Canada – Labour Day

US Construction PMI – 11.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1765 R. 1.2027

USDJPY                 S. 109.18 R. 111.00

GBPUSD               S. 1.2859 R. 1.3041

USDCHF               S. 0.9507 R. 0.9721

AUDUSD              S. 0.7887 R. 0.8033

NZDUSD               S. 0.7107 R. 0.7229

USDCAD               S. 1.2256 R. 1.2560

 

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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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