11 10 12:10
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Daily economic digest from Forex.ee

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The EUR/USD pair remains better bid on Wednesday, mostly ignoring uncertainty surrounding Spain. Yesterday Catalonia’s President Carles Puigdemont and other regional politicians signed a document declaring Catalonia’s independence from Spain. Moreover, Mr. Puigdemont also delivered a speech, begging Spanish government for a dialog. However, the Spanish government keeps its position clear and does not recognize actions of the Catalan leader. On the other hand, ongoing weakness of the US dollar, additionally boosted by yesterday’s dovish comments of Dallas Fed Chief R.Kaplan, pointing on a postponement of Fed rate hike this year, also collaborates with pair’s upside in the middle of this week. Today all traders’ attention will remain focused on the FOMC Sept meeting minutes, which will be able to bring fresh insight on further Fed monetary policy path, while data from the US labor market and developments from the Spanish political field will also be able to provide the pair directional impetus in the day ahead.

 

The GBP/USD pair struggles to determine its direction and remains in the vicinity of 1.3200 mark, following broad market sentiments on Wednesday. An absence of any direction could be explained by increased cautiousness across the market, as investors remain in anticipation of another market-moving event – the FOMC meeting minutes, which could be able to set up pair’s further trajectory. However, the pound manages to keep a smile lately, as upbeat fundamentals and UK PM T.May’s intentions to maintain strong economic post-Brexit partnership with EU keep sentiments around the UK currency underpinned. Adding to this, ongoing decline of the US dollar, accelerated by yesterday’s dovish comments of FOMC member R.Kaplan, who stated that the Fed could afford to be patient on rate hikes, is also limiting pair’s further losses. On the data front, today the UK calendar won’t offer anything important, while the US will publish the FOMC minutes from the latest meeting, which will hog the limelight during the NA afternoon.

 

The NZD/USD pair trades without clear direction at the equator of this trading week, as sentiments around both currencies remain subdued. Yesterday the US dollar received another bearish impetus after FOMC member R.Kaplan suggested being a little bit more patient and gradual on rate hikes. On the other hand, lingering worries surrounding New Zealand political environment, triggered after general election failed to identify a clear winner, are still limiting NZD gains.  Moreover, classic cautiousness across the market ahead of the FOMC minutes will also keep the pair capped within its daily range, as investors will seek for additional clues on another Fed rate hike this year. Besides the Fed protocols, the US economic calendar also contains the JOLTS Job Openings report, which will also be able to bring some short-term trading opportunities during the NA session.

 

The dollar/yen pair follows broad market trend on Wednesday and remains directionless, awaiting for fresh movement catalysts. Yesterday the pair managed to recover after moderate drop on the back of decreasing demand for safety, as lack of news from Korean Peninsula and easing concerns surrounding political climate in Spain are forcing investors to take a closer look on more risky assets. On the other hand, continuing sell-off of the US dollar, additionally boosted by yesterday’s dovish talks of Fed member R.Kaplan, who noted that the Fed might need to see more evidence of progress in inflation for further monetary policy tightening, is limiting further gains of the pair. Today all eyes will remain glued to the FOMC minutes, which will be able to influence the US dollar price dynamics in short-term projection, while the JOLTs Job Openings report will also attract traders’ attention during the NA session.

 

The main events of the day:

US JOLTs Job Openings – 17.00 (GMT +3)

FOMC Meeting Minutes – 21.00 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1701 R. 1.1879

USDJPY                 S. 111.57 R. 113.25

GBPUSD               S. 1.3091 R. 1.3281

USDCHF               S. 0.9698 R. 0.9826

AUDUSD              S. 0.7722 R. 0.7824

NZDUSD               S. 0.7038 R. 0.7102

USDCAD               S. 1.2445 R. 1.2589

 

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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.

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.

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.

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.

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