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08 12 01:12
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Daily economic digest from Forex.ee

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The EUR/USD pair keeps navigating southwards for the fourth session in a row, remaining within striking distance of its 2-week lows, marked in the area of 1.1740. Increased demand for the US dollar remains one of the key navigators across amid investors’ expectations that long-awaited US tax reforms will be implemented by the end of this year, which, in turn, negatively affects the pair on the last day of this working week. Moreover, strong drawdown of the euro in the cross with the pound on the back of progress in the Brexit negotiations exerts additional correlation pressure on the single currency across the market. On the data front, today all eyes will remain on the data from the US labor market, which will be able to shape up the tone of the US dollar ahead of next week’s Fed meeting.

 

The GBP/USD pair continues to show positive dynamics in the second half of this week, trading above the level of 1.35 amid the progress made in the Brexit negotiations. As it became known earlier, the European Union and the UK reached a compromise on Brexit settlement bill. Today the UK PM Theresa May and President of the European Commission Jean-Claude Juncker met to sign an agreement, which allows both sides to move on to the next phase of negotiations. Moreover, strong risk-on sentiments were dominating the market in Asia, lending support to higher-yielding assets, such as the pound. Looking ahead, today we are expecting pretty volatile session, as both sides have prepared important data releases, which will help the pair to form its further direction.

 

The USD/JPY pair remains bullish for the second day in a row, having refreshed its 3-week highs, despite slew of upbeat data from the Japanese economy. Seems that Japanese bulls mostly ignored positive numbers of Japan’s GDP report, allowing the pair to reach the area of 113.50. The main reason of pair’s bullish rally is a pickup in the US Dollar demand, which is dominating the market on Friday. Moreover, prevalent risk-on moods, triggered by positive Chinese trade balance data, is another negative factor for the yen, which is contributing to pair’s upside rally. However, further growth of the pair looks fragile, as all traders’ attention shifts towards the US monthly jobs report, which will hog the limelight during the NA session, as markets believe that it could affect further Fed monetary policy course.

 

Bitcoin again distinguished himself. The world’s largest cryptocurrency once again surprised the cryptomarket at the end of this week. In Asia, the BTC/USD pair rose to its new ultimate highs, marked at 17147.00. However, it seems that bitcoin bulls appeared exhausted and the pair retreated by $3000 to the area of 14000.00. Further, Bitcoin tried to regain its bullish mood, having risen to the level of 16000 at the beginning of European trading session, but the attempts of the crypto currency were unsuccessful and the pair sank to the level of 15000.00. This Bitcoin’s sharp retreat is mainly attributed to profit taking actions, as digital currency gained more than 70% over the last 7 days. By the moment of writing, the price of Bitcoin was $15382.00, and its market capitalization remained at $265 billion, according to data from coinmarketcap.com.

 

The main events of the day:

UK Manufacturing Production – 11.30 (GMT +2)

US Nonfarm Payrolls – 15.30 (GMT +2)

US Unemployment Rate – 15.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1743 R. 1.1829

USDJPY                 S. 111.87 R. 113.75

GBPUSD               S. 1.3261 R. 1.3589

USDCHF               S. 0.9842 R. 0.9996

AUDUSD              S. 0.7465 R. 0.7593

NZDUSD               S. 0.6782 R. 0.6912

USDCAD               S. 1.2751 R. 1.2919

 

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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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