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13 10 12:10
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Daily economic digest from Forex.ee

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The EUR/USD pair lost its upside momentum this morning, having met resistance in the vicinity of 1.1850 level, on the back of attempts of the US dollar to correct higher against its main competitor after drawdown, backed by less hawkish FOMC meeting minutes. On the other hand, the pair was trading on a positive note during Asia, as the euro received a fresh boost, following recent headlines, saying that the ECB is considering the tapering of the QE program, starting from January 2018. However, further sharp moves of the pair look unlikely, as we are heading closer to the key event of this Friday – the release of the US CPI report, which could reinforce market’s expectations of more aggressive Fed monetary policy tightening path. Besides the US inflation, investors will also pay attention to US retail sales numbers, which will also be able to bring some additional impetus to the pair.

 

The GBP/USD pair continues to show positive dynamics so far this week, having refreshed its nearly 2-week highs at 1.3324 spot this morning, as continuing optimism around Brexit supports the pound. Seems that UK bulls are not going to give up, extending its winning streak for the fifth consecutive session, on the back of recent news headlines, citing EU’s chief Brexit negotiator Michel Barnier, who offered the UK to stay in the EU’s single market during the 2-year transition period. Moreover, subdued price dynamics of the US dollar and recent talks about narrowing divergence between Fed and BoE also collaborate with pair’s upside trend at the end of this week. Now all traders’ attention shifts towards crucial US CPI and retail sales figures, which could help the pair to determine its further direction.

 

The AUD/USD pair continues to show positive dynamics for the fourth day in a row, despite cautious RBA Financial Stability Review report and mixed Chinese trade data. The RBA once again reiterated its position, saying that higher interest rate level could weigh on the economy, and especially on the Australian housing market. Moreover, seems that the pair also remained resilient to mixed Chinese trade balance numbers, which failed to exert enough pressure on Australian bulls. Pair’s upside trend could be mainly explained only by a softer tone of the greenback, as markets continue to digest recent FOMC meeting minutes. However, further growth of the pair may appear capped, as we are heading to the key event of this week – US CPI report, which will be especially interesting in light of recent cautious comments of Fed members regarding low inflation growth rates in the US.

 

The BTC/USD pair continues to surprise the market with its performances. Recall, in September the BTC/USD pair dipped below the level of 3000, following restrictions on digital currency in China, which is the world’s largest crypto market. However, Bitcoin managed to recover a smile and refreshed its ultimate highs at 5867.60 earlier this session. There is no clear catalyst behind this aggressive upsurge, while markets believe that slew of secondary positive factors, such as Amazon bringing bitcoin on their platform, rumors that bitcoin trading would likely be resumed with more regulation in China or increasing trading volumes in S.Korea and Japan, are providing enough support to Bitcoin, so the pair could resume its upside trend. Currently the BTC/USD pair is trading at 5562.70 spot, while its market capitalization rose above 90 billion USD, referring to the data from coinmarketcap.com.

 

The main events of the day:

US Core CPI – 15.30 (GMT +3)

US Core Retail Sales – 15.30 (GMT +3)

US Retail Sales – 15.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1792 R. 1.1898

USDJPY                 S. 111.92 R. 112.70

GBPUSD               S. 1.3056 R. 1.3394

USDCHF               S. 0.9690 R. 0.9794

AUDUSD              S. 0.7762 R. 0.7864

NZDUSD               S. 0.7047 R. 0.7187

USDCAD               S. 1.2407 R. 1.2523

 

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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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