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24 10 12:10
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Daily economic digest from Forex.ee

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The EUR/USD pair regained its bullish tone and now is navigating back to its intraday highs, marked at 1.1770 spot, following positive German manufacturing data. However, further growth may appear capped, as markets are digesting latest developments from Spain. Recently Catalan government warned about the possibility of civil disobedience in response to recent comments of Spanish PM M.Rajoy, who intends to introduce direct rule to the Catalonia region. Adding to that, slight cautiousness across the market is starting to gather the pace, also limiting pair’s gains, as we are heading closer to the key event of this week – ECB monetary policy meeting, which will take place on Thursday. Market participants expect from ECB President M.Draghi detailed information about possible changes in the QE program. On the data front, nothing else is left in the economic calendar for this Tuesday, so further political developments from Spain and the US dollar price changes will remain as key driving factors for the pair during this trading session.

 

The NZD/USD pair lost its recovery momentum and once again refreshed its 5-month lows at 0.6926 mark this morning on the back of fresh talks of NZ authorities. In Asia NZD came under aggressive bearish pressure after new NZ PM Jacinda Ardern called for a review and reform of Reserve Bank Act. The market took this statement as dovish, as it leads to uncertainty in further monetary policy. However, the retreat of the Kiwi may appear limited, as mildly bearish sentiments around the greenback and positive tone of oil prices support the pair in the first half of this week. Today the US calendar once again will keep silence, so the US dollar price dynamics and developments from the NZ political area will remain as key determinants for the major during this trading session.

 

The dollar/yen pair remains positive on Tuesday on the back of attempts of the US dollar to correct higher after yesterday’s drawdown. On Monday the pair opened with strong bullish gap, having refreshed its 3-month tops in the region of 114.00 level, on the back of Sunday’s snap election results, which showed undeniable win of Japanese PM Shinzo Abe. These results the market considered as dovish, as Mr. Abe intends to implement ultra-easing measures to the monetary policy. However, since the win of Japanese PM was inevitable, the positive momentum faded quickly and the pair managed to fill the gap and to retreat to this day lows, marked at 113.25 spot. Today nothing much is scheduled in the data calendar, so the pair will continue to trace broad market trend and the US dollar dynamics to determine its further direction.

 

The GBP/USD pair eased its Asian gains and broke through the level of 1.3200 mainly in response to attempts of the US dollar to regain its positive tone across the market. However, further retreat of the pair may appear capped as the pound continues to benefit from positive comments of UK PM May regarding Brexit negotiations delivered a day before. Moreover, EU Chief Brexit negotiator Michel Barnier also added some extra optimism around the pound, stating that there is possible way to reach good Brexit deal. Today both economic calendar won’t provide the market with any relevant data releases, so broad market sentiments and US dollar price actions will set up pair’s further trajectory during this trading session.

 

The main events of the day:

None

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1697 R. 1.1803

USDJPY                 S. 112.74 R. 114.44

GBPUSD               S. 1.3124 R. 1.3262

USDCHF               S. 0.9804 R. 0.9904

AUDUSD              S. 0.7774 R. 0.7850

NZDUSD               S. 0.6903 R. 0.7019

USDCAD               S. 1.2593 R. 1.2685

 

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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.

Forex broker Forexee

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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