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22 11 01:11
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Daily economic digest from Forex.ee

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The EUR/USD pair extends its recovery trend, as broad retreat of the US dollar remains key driving theme across the market on Wednesday. The main reason of greenback’s weakness remains yesterday’s cautious speech of the Fed Chief J.Yellen, where she noted that the US inflation continues to demonstrate surprisingly low growth pace. Moreover, seems that markets have already passed over recent German political developments, which is another positive factor for the pair. Today the EU data calendar won’t bring us anything important, so the US dollar price dynamics will remain the key determinant for the pair, while important fundamentals from the US and FOMC minutes will grab investors’ attention during the NA session.

 

The GBP/USD pair remains better bid on Wednesday on the back of broad weakness of the US dollar across the market. Yesterday, the greenback turned negative after the Fed Chair J.Yellen raised doubts over weak US inflation. Moreover, positive news headlines, saying that the EU and UK intend to reach the Brexit deal within 3 weeks, also help the pair to keep its bullish tone today. However, further upside of the pair may appear limited, as investors remain cautious ahead of important events due later today. Now all eyes remain glued to the UK’s Autumn Forecast Statement, which expectedly will be able to bring some impact to the GBP during European trades, while the US durable goods data and FOMC minutes will keep investors busy during the NA session.

 

The AUD/USD pair eased part of its yesterday’s gains in Asia, however, maintaining positive tone in early Europe. On Tuesday, the pair received notable bullish impetus, following hawkish remarks of the RBA Governor Phillip Lowe. The head of the bank noted that the next move of the RBA in relation to its interest rate might be hawkish if Australian economy continues to improve as expected. However, further upside appeared limited, as ongoing risk-off trend is still weighing on higher-yielding assets, such as the Aussie. On the other hand, weaker sentiments around the US dollar, sparked by cautious comments from the Fed Chair J.Yellen on the inflation outlook, will continue to support the pair in the middle of this week. On the data front, today the US data calendar contains the US durable goods data and FOMC minutes, which will bring fresh trading opportunities during the NA session.

 

The USD/JPY pair remains highly offered in the middle of the week, keeping its position within striking distance of its monthly lows, touched on Monday near the level of 112. The main reason of pair’s retreat remains broad weakness of the US dollar, as the market is still digesting yesterday’s dovish comments of the Fed Chairwoman J.Yellen on the inflation outlook. Moreover, the yen continues to benefit from persisting risk-off sentiments, which eventually is also adding some negative pressure on the pair lately. Attention now turns towards the US durable goods data and FOMC minutes release for fresh impetus on the USD, which in turn will affect the pair.

 

The main events of the day:

UK Autumn Budget – 14.30 (GMT +2)

US Core Durable Goods Orders – 15.30 (GMT +2)

US Crude Oil Inventories – 17.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1691 R. 1.1781

USDJPY                 S. 111.90 R. 112.96

GBPUSD               S. 1.3178 R. 1.3296

USDCHF               S. 0.9871 R. 0.9967

AUDUSD              S. 0.7508 R. 0.7624

NZDUSD               S. 0.6767 R. 0.6871

USDCAD               S. 1.2699 R. 1.2875

 

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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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