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24 11 01:11
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Daily economic digest from Forex.ee

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The EUR/USD pair consolidates its recent bullish rally in the vicinity of 1.1850 level at the last trading session of the week. The pair remains positive for the fourth session in a row, despite attempts of the US dollar to correct after its significant drawdown, triggered by dovish FOMC minutes on Wednesday. The main reason of pair’s positive mood remains the fact that concern about the political situation in Germany was somewhat eased. On the other side, the market barely reacted on yesterday’s ECB minutes, which showed that ECB members are not yet ready to name the exact end date of the QE program. Now immediate focus shifts toward German Ifo business surveys, which will remain the only important release of this day, so the pair will continue to follow broad market trend to determine its further trajectory.

 

The GBP/USD pair failed to sustain its positions above the level of 1.33 in Asia, having eased part of its weekly gains. The main reason of pair’s retreat remains attempts of the US dollar to correct positions against its main competitors after disappointing FOMC minutes, seen on Wednesday. Adding to this, prevalent risk-off sentiments exert some pressure on the higher-yielding GBP that is also contributing to pair’s retreat. However, further downside of the pair seems limited amid thin market conditions due to Thanksgiving lull on the US market. Looking ahead, today we have pretty quiet trading session, as only secondary data reports will be released from both sides, so the US dollar price dynamics and broad market trend will remain as key driving factors for the pair at the end of this working week.

 

The USD/JPY pair finally came out of its consolidation phase and stepped away from the region of its 2-month lows, reached on Wednesday near the level of 111.00. Recall, earlier this week the greenback slumped sharply across the board after dovish FOMC minutes showed concerns of Fed members regarding weaker inflation growth pace. However, seems that US bears took a breather today, allowing the dollar to correct higher after its drawdown, eventually exerting support to USD/JPY. On the other hand, further upside looks capped, as better demand for safety and low trading volumes are lending some negative pressure on the pair. Today in absence of any market-moving events, the US dollar dynamics will remain as an exclusive determinant for the pair throughout this trading session.

 

The NZD/USD pair came under selling pressure at the last trading session of this week, retreating from its weekly highs, marked near the level of 0.6900 on Thursday, after disappointing data, provided by the NZ economy. In early Asia, the NZ published weaker-than-expected trade balance data, which was the main catalyst for pair’s decline. Adding this, broad US dollar correction against its main peers and prevalent risk aversion also contributes to pair’s retreat lately. In the session ahead, the US economy will publish only secondary data reports, which most likely won’t cause any sharp reaction amid investors, so US dollar price actions will act as an exclusive driver for the pair on the last trading day of the week.

 

The main events of the day:

United States – The Day After Thanksgiving

German Ifo Business Climate Index – 11.00 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1796 R. 1.1882

USDJPY                 S. 110.90 R. 111.52

GBPUSD               S. 1.3251 R. 1.3363

USDCHF               S. 0.9778 R. 0.9844

AUDUSD              S. 0.7586 R. 0.7656

NZDUSD               S. 0.6847 R. 0.6925

USDCAD               S. 1.2652 R. 1.2756

 

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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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