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19 10 12:10
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Daily economic digest from Forex.ee

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The EUR/USD pair stays positive on Thursday, having refreshed this week tops at 1.1822 level, as slight weakness of the US dollar is one of the key driving factors on the market. Seems that yesterday’s retreat of the greenback, additionally boosted by lackluster US housing data, supports the pair in the second half of this week, forcing it to keep its positions above the level of 1.1800. However, the pair stalled its downside direction in early Europe, as investors are digesting recent headlines, saying that the Catalan leader C.Puigdemont threatened Spain PM M.Rajoy that he would declare formal independence in case of no dialogue from Madrid. In response to this announcement, the Spanish PM intends to call a cabinet meeting on Saturday to discuss current situation. Expected, that today the pair will remain influenced by Catalan political updates, while the US will release Philly Fed manufacturing index, which will bring additional trading opportunities during the NA session.

 

The NZD/USD pair came under strong selling pressure during the Asian trading session, having lost 130 pips, on news that NZ First party will form the governments with Labour party. Earlier today, it became known that after a month of inconclusive negotiations New Zealand First finally made a decision to form the government with Labour party, which means that current NZ PM Bill English, whose party won a small advantage in the September elections, will have to resign. However, there is still no official announcement, but investors have already started to correct their positions in accordance to the latest news headlines, forcing the pair to retreat to its 5-month lows, marked at 0.7038 spot. On the other side, slight US dollar downside correction across the market might provide the pair with much needed respite, stalling its sharp rally. Looking ahead, today we have Philadelphia Fed Manufacturing Index, scheduled in the US data calendar, however, further developments from the NZ political field will continue to navigate the pair during this trading session.

 

The GBP/USD pair failed to sustain its yesterday’s gains and retreated back below the level of 1.3200 by the European opening. The main reason of pound’s recent weakness is that investors remain cautious ahead of the EU Summit, with the agenda mainly centered on the Brexit negotiations. Investors mainly await for UK PM Theresa May’s speech for fresh insight on Brexit deal after long negotiations, which lacked any progress. Meanwhile, slight downside correction of the US dollar across the board and nervousness ahead of the important data release are limiting pair’s current retreat. Besides the EU Summit, investors will also pay attention to the UK retail sales numbers and Philly Fed manufacturing data, which will help to form next short-term trajectory of the pair on Thursday.

 

The AUD/USD pair failed to gain direct momentum following slew of positive data from Australia and China, released earlier this session. The pair received moderate bullish impetus during Asia, rallying 30 pips, on the back of a promising Aussie jobs report. However, the spike was short-lived and the pair retreated back to its comfort zone, located in the vicinity of 0.7850, as investors’ sentiments about the Aussie are still unclear after dovish RBA meeting minutes, seen on Tuesday. Nevertheless, the pair managed to recover its positive tone after China released upbeat data from the industrial sector. In general, the pair is showing bullish dynamics at the European morning, also taking into account slight retreat of the US dollar against its main competitors. Today all traders attention will remain focused on Philly Fed manufacturing data, while the US dollar price dynamics and broad market trend will continue to remain as key driving factors for the pair on Thursday.

 

The main events of the day:

UK Retail Sales – 11.30 (GMT +3)

Philadelphia Fed Manufacturing Index – 15.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1697 R. 1.1849

USDJPY                 S. 111.78 R. 113.62

GBPUSD               S. 1.3114 R. 1.3252

USDCHF               S. 0.9746 R. 0.9870

AUDUSD              S. 0.7803 R. 0.7879

NZDUSD               S. 0.7089 R. 0.7209

USDCAD               S. 1.2409 R. 1.2561

 

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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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