25 10 12:10
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Daily economic digest from Forex.ee

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The EUR/USD pair trades without clear direction on Wednesday, staying within 1.1755-70 narrow range, on the back of increasing cautiousness across the market, as we are heading towards important event, which will be held during the next trading session. The pair remains broadly resilient to positive tone of the greenback today, as investors refrain from placing any important directional bets ahead of the ECB monetary policy meeting. It is widely expected that the Bank will reaffirm the need of accommodative monetary policy, while any comments regarding potential QE program adjustments may appear highly influential for the pair. Looking ahead, today we have a pretty busy trading session, which will bring German business climate data and pack of the US releases that will be able to set up pair’s next near-term trend, while broad cautiousness and the US dollar price changes will also have some impact on the pair during this day.

 

The AUD/USD pair extends its losing streak for the fourth consecutive day, having refreshed its 3-month lows at 0.7716 spot, amid several bearish factors, which are weighing the pair. The Aussie remains the main outsider of this Asian trading session on the back of weaker-than-expected Australia’s CPI numbers, which forced the pair to lose about 70 pips. These economic results sparked fresh speculations about divergence between monetary policies of the Fed and RBA, which are especially relevant in light of recent dovish remarks of RBA officials. Adding to this, mildly bearish tone on the commodity market and shrinking risk appetite also add some pressure on the AUD/USD pair at the middle of this trading week. On the data front, today the US will release slew of macro data during the NA session, which will bring additional trading opportunities to investors.

 

The USD/CAD pair shows subdued trading dynamics at the equator of this week, staying in the region of 1.2670-90, ahead of the crucial BoC meeting. It is expected that the Bank will keep its interest level unchanged, while some dovish comments from BoC members won’t be a surprise, taking into account the latest Canadian economic results, including lower-than-expected inflation figures and a weak retail sales report. Adding to this, better tone of the greenback against its main competitors also helps the pair to keep its positions within striking distance of its 2-month tops, marked a day before. Besides the BoC meeting, investors will also keep eyes on the bloc of the US macro data, which will also be able to provide some short-term impetus to the pair during the NA session.

 

The NZD/USD pair remains highly offered so far this week, having once again refreshed its 5-month lows at 0.6882 earlier this session. The Kiwi continues to suffer from ongoing political uncertainty in the NZ, underpinned by fresh news, saying that new NZ PM J.Ardern intends to appoint leader of NZ First party Winston Peters to the position of the deputy prime minister and foreign minister. The market took this news as dovish, as Mr.Peters is considered as protectionist politician. Moreover, positive tone of the greenback remains one of the key themes across the market that also contributes to pair’s retreat on Wednesday. Today all traders’ attention will remain focused on the pack of US macroeconomic releases, featuring durable goods orders, new home sales data and crude oil stockpiles, which will help the pair to set up its further direction.

 

The main events of the day:

German Ifo Business Climate – 11.00 (GMT +3)

UK prelim. GDP – 11.30 (GMT +3)

US Core Durable Goods Orders – 15.30 (GMT +3)

US New Home Sales – 17.00 (GMT +3)

BoC Interest Rate Decision – 17.00 (GMT +3)

US Crude Oil Inventories – 17.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1714 R. 1.1814

USDJPY                 S. 112.94 R. 114.50

GBPUSD               S. 1.3043 R. 1.3271

USDCHF               S. 0.9813 R. 0.9959

AUDUSD              S. 0.7736 R. 0.7844

NZDUSD               S. 0.6814 R. 0.7048

USDCAD               S. 1.2591 R. 1.2733

 

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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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