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04 12 01:12
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Daily economic digest from Forex.ee

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The EUR/USD pair remains under bearish pressure, as optimism around the greenback dominates the market on Monday. Recently the US Senate approved the tax overhaul bill that brings much awaited tax cuts a step closer to their implementation. Moreover, fading uncertainty surrounding US President’s connection with Russia is also offering some support to the greenback. According the latest information, reports about Russia’s involvement in the 2016 presidential election appeared faulty. On the data front, today both economic calendars won’t offer anything interesting, so the pair will keep tracing broad market sentiments and USD price dynamics to determine its further trajectory.

 

The GBP/USD pair extends its retreat from 2-month highs for the second day in a row, marked near the level of 1.3550, on the back of renewed demand for the US dollar. The greenback appears bid across the market today as the US Senate passed the tax reform bill, making implementation of long awaited tax cuts a step closer to its final goal. However, positive sentiments around Brexit negotiations are still offering support to the pound, limiting pair’s recent retreat, while any further developments in EU-UK talks will remain closely eyed for fresh any impact on the pair. Now all eyes remain glued to the UK Construction PMI, which will be able to provide fresh trading opportunities during the European trading session, while the US data calendar will remain broadly silent, leaving the pair at the mercy of broad market sentiments and the US dollar dynamics.

 

The NZD/USD pair remains one of the weakest assets of this Asia, moving closer to the region of its weekly lows, marked at 0.6818 spot on Friday. Increased demand for the greenback, backed by US tax reform developments and fading concerns over the US President’s connection with Russia, remains key driving factor across the market, which is lending negative pressure on the pair lately. Moreover, ongoing uncertainty on the political field of the NZ also collaborates with downside trend of the pair. Looking ahead, today we will have pretty quiet data session, as the US economic calendar offers only secondary data reports, which unlikely will attract investors’ attention, so the US dollar price dynamics will continue to navigate the pair throughout this trading session.

 

Bitcoin continues to set records, having refreshed its all-time highs at 11831.00 vs its US counterpart. Seems that the BTC/USD pair has regained its positive tone after technical correction, seen last week, and now is extending its bullish rally, as interest around the cryptomarket continues to grow. However, further upside rally of Bitcoin may appear capped, as the UK Treasury intends to regulate Bitcoin, concerning about money laundering and tax avoidance. By the moment of writing, Bitcoin’s price was 11460.00 $ and its capitalization increased to the level of 192 billion USD, according to data from coinmarketcap.com.

 

The main events of the day:

UK Construction PMI – 11.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1806 R. 1.1986

USDJPY                 S. 110.65 R. 113.63

GBPUSD               S. 1.3380 R. 1.3592

USDCHF               S. 0.9651 R. 0.9921

AUDUSD              S. 0.7512 R. 0.7686

NZDUSD               S. 0.6774 R. 0.6966

USDCAD               S. 1.2526 R. 1.2978

 

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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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