Today the EUR/USD pair extends its yesterday’s positive trend, remaining just a few pips below its psychological level of 1.2000. The latest pair’s upside rally is mainly attributed to a renewed weakness of the US dollar, backed by N.Korea’s threat to accelerate its plans to acquire a nuclear weapon, following the new sanctions imposed by the UN. Moreover, it seems that even yesterday’s positive data from the US labor market could not provide enough support to the dollar to somehow influence the situation. Today the European data calendar will continue to keep silence, leaving the pair at the mercy of global market trend, while the US will release the PPI report, which will be able to set up some short-term trend for the pair during New York trades.
The GBP/USD pair extends its bullish trend on Wednesday, triggered by previous session’s better-than-expected the UK CPI data, having refreshed its one year highs on the level of 1.3315. On Tuesday, the pair received strong bullish impetus after UK released its inflation reading, which came above market’s expectations, provoking strong upside rally of the pair. Adding to this, ongoing retreat of the US dollar, underpinned by N.Korea’s latest threat, following new sanctions imposed by the UN, is also collaborating with pair’s bullish trend. However, it is expected that the pair won’t show any sharp moves in the day ahead, as investors remain in anticipation of tomorrow’s BoC meeting, refraining of taking any important decisions. Now all investors’ attention shifts towards the bloc of data from the UK labor market, which will be released during the European session, while the US data calendar will also be able to attract investors attentions with PPI report due for release in the session ahead.
The AUD/USD pair came under bearish pressure in Asia after dovish speech of RBA board member Ian Harper, however, having kept its positions above the level of 0.8000. During his speech Mr.Harper stated that Australian economic growth pace remains too weak to talk about a rate hike that forced the pair to retreat from its daily tops. However, pair’s downside trend quickly lost its momentum, as ongoing weakness of the US dollar dominates the market at the equator of this week, despite Tuesday’s upbeat data from the US labor market. However, further upside looks fragile, as geopolitical tensions around N.Korea are back in business. On the data front, today we will have another data quiet session, as only the US PPI report will be released during the NA session, so broad US dollar dynamics will continue to navigate the pair throughout this trading session.
The USD/CAD pair came under mild bearish pressure in Asia, easing part of its yesterday gains. Pair’s pull back could be mainly explained by retreat of the US dollar against its main competitors on the back of renewed concerns over the N.Korean conflict. On the other hand, softer tone of oil prices has negatively affected commodity-linked Loonie, thereby limiting USD/CAD retreat. In general, the pair remains under bearish pressure lately, as divergence between monetary policies of two neighboring economies, backed by last week’s unexpected BoC rate hike, negatively influences the pair. Today investors’ focus will remain on the US PPI report and oil inventories data, which will be able to bring some trading opportunities during the NA session, while US dollar actions and oil dynamics will remain as key driving factors for the pair throughout this session.
The main events of the day:
UK Average Earnings Index +Bonus – 11.30 (GMT +3)
UK Claimant Count Change – 11.30 (GMT +3)
US PPI – 15.30 (GMT +3)
Crude Oil Inventories – 17.30 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1904 R. 1.2008
USDJPY S. 108.86 R. 110.90
GBPUSD S. 1.3104 R. 1.3386
USDCHF S. 0.9509 R. 0.9663
AUDUSD S. 0.7972 R. 0.8072
NZDUSD S. 0.7171 R. 0.7379
USDCAD S. 1.2044 R. 1.2260
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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.
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.