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23 11 01:11
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Daily economic digest from Forex.ee

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The EUR/USD pair keeps positive mood for the third session in a row in wake of increased selling pressure on the US dollar. Currently the pair is trading in the area of its multiday highs at 1.1840 spot, as investors are still digesting yesterday’s dovish FOMC meeting minutes. Following FOMC meeting results, it became clear that Fed members remain concerned regarding lower inflation growth rates, which raise doubts in the further implementation of aggressive monetary policy of the Fed. Adding to this, a slew of positive German data, featuring preliminary German Manufacturing PMI numbers, also helped the pair to keep its positive tone in early Europe. Now investors await the ECB minutes for fresh momentum, while thin trading conditions will likely to keep the pair in a calm mode, as the US market remains closed due to Thanksgiving Day.

 

The GBP/USD pair consolidated its positions above the level of 1.33, after a significant bullish rally, triggered by yesterday’s dovish FOMC minutes. Protocols from the last FOMC meeting showed increasing concerns amid Fed members over lower inflation growth rates, which in turn drop a shadow on further Fed aggressive monetary policy path. Adding to this, weaker-than-expected durable goods orders report also added some bearish pressure on the US dollar. On the other hand, the market mainly ignored UK’s Budget, offering little help to the pound, as it failed to provide investors with any surprise. Now all investors’ attention remain focused on the UK crucial GDP numbers, however, sharp market’s reaction seems unlikely amid relatively thin liquidity conditions on the back of the Thanksgiving holiday in the US and Japan.

 

The AUD/USD pair is following broad market trend, consolidating its positions after refreshing its weekly highs at 0.7624 spot in Asia. Pair’s recent positive mood can be mainly explained by a sharp sell-off of the US dollar in response to dovish FOMC minutes, which showed that weak inflation remains a key concern for the Fed. However, seems that the greenback has stalled its broad retreat, allowing the bulls to take some breather. Moreover, softer sentiments on the commodity market, especially surrounding the copper, also failed to lend any support to the commodity-linked Aussie, eventually leading to the subdued dynamics of the pair. Expected that today the pair won’t show as any sharp moves, as the US and Japanese markets remain closed in observance of Thanksgiving holiday.

 

The USD/JPY pair remains heavily offered on Thursday, having refreshed its 2-month lows in the vicinity of 111.00 level. The USD/JPY pair was no exception and followed broad market trend, backed by sharp US dollar retreat across the market. The main reason for the decline of the US dollar was Wednesday’s publication of the FOMC meeting minutes, which showed Fed member’s cautiousness over inflation growth pace. However, the pair managed to stall its retreat and to consolidate positions near its recent lows amid thin liquidity conditions, as Japan is celebrating Labour Thanksgiving Day. Looking ahead, in absence of any market-moving events and prevailing low trading volumes in wake of Thanksgiving Day holiday in the US, the pair most likely will extend its consolidative pattern during this trading session.

 

The main events of the day:

United States – Thanksgiving Day

Japan – Labour Thanksgiving Day

Prelim. UK GDP – 11.30 (GMT +2)

ECB Publishes Account of Monetary Policy Meeting – 14.30 (GMT +2)

Canada Core Retail Sales – 17.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1697 R. 1.1889

USDJPY                 S. 110.27 R. 112.97

GBPUSD               S. 1.3171 R. 1.3405

USDCHF               S. 0.9746 R. 0.9950

AUDUSD              S. 0.7531 R. 0.7667

NZDUSD               S. 0.6792 R. 0.6938

USDCAD               S. 1.2632 R. 1.2818

 

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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.

Forex broker Forexee

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.

Forex broker Forexee

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