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03 10 12:10
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Daily economic digest from Forex.ee

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The EUR/USD pair followed widespread market sentiments in Asia and spiked its support level of 1.1700, having refreshed its 2-month lows at 1.1696 spot. The main market-moving factor remains increased demand of the US dollar, as risen expectations of another Fed rate hike by the end of this year and solid economic results of the US economy are supporting the greenback across the market. Adding to this, the common currency continues to remain influenced by Sunday’s Catalonia independence referendum, which led to a surge of violence on the streets of Spain, thereby exerting notable pressure on the euro. However, the pair managed to bounce off its recent lows and to recover part of its overnight loses amid profit taking actions around the US Dollar. Today we have absolutely empty data calendar, so the pair will continue to trace US dollar price actions and broad market trend to determine its further direction.

 

The AUD/USD pair continues to lose ground for the third day in a row, having refreshed its 2-month lows below the level of 0.7800. Today the pair received another bearish impetus after the RBA revealed the outcome of its meeting. As it was widely expected, the Bank didn’t offer any surprise to markets and left its rate and monetary policy stance unchanged. In its statement, the regulator noted that keeping monetary policy stance without any changes shows Bank’s intentions to achieve sustainable growth in the economy and the inflation target over time. Adding to this, the RBA reiterated its concerns over higher exchange rate of the Aussie, which is providing some negative pressure on the Australian economy. Besides jawboning outcome of the RBA meeting, ongoing demand for the US dollar, additionally boosted by upbeat US manufacturing data, continues to drag the pair into the negative territory. Today in absence of any economic releases, the pair will continue to trace the US dollar price dynamics to determine its further trajectory.

 

The GBP/USD pair remains heavy weighed on Tuesday, having refreshed its 3-week lows at 1.3329 level earlier this session. Increased demand for the US dollar, underpinned by investors’ hopes that the Fed will implement its plan of more aggressive monetary policy tightening, is still dominating the market, thereby negatively influencing the pair. Adding to this, ongoing uncertainty over Brexit process negotiations is also forcing the pound to lose points against its American counterpart, as no significant progress has been reached on main Brexit topics during the Brexit talks. However, seems that the pair managed to stall its retreat and performed attempt to recover part of its overnight losses in European morning, as investors are locking in some profits after significant downside rally of the pair. Now immediate focus shifts towards the UK Construction PMI, which is scheduled on the European trading session. However, since it is the only market-moving event for today, the US dollar price dynamics will remain as a key determinant for the pair throughout this Tuesday.

 

The dollar/yen pair continues to gain points so far this week, stepping into the zone of its 2-month highs, touched at 113.25 spot last week. Ongoing speculations on another Fed rate hike and positive US macroeconomic data continue to hold the US dollar firmer on Tuesday, limiting any pair’s chances to downside correction. However, seems that the pair met some resistance in the region of its recent tops, as slight pick up in interest to safety on the back of Las Vegas shootings, allowed the pair to stall its upside rally. Today nothing noteworthy is scheduled in the data calendar for the pair, so broad market trend and sentiments around the US dollar will continue to remain as exclusive drivers for the pair throughout this trading session.

 

The main events of the day:

UK Construction PMI – 11.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1672 R. 1.1844

USDJPY                 S. 112.10 R. 113.38

GBPUSD               S. 1.3163 R. 1.3457

USDCHF               S. 0.9642 R. 0.9808

AUDUSD              S. 0.7771 R. 0.7875

NZDUSD               S. 0.7137 R. 0.7255

USDCAD               S. 1.2439 R. 1.2559

 

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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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