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Daily economic digest from Forex.ee

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The EUR/USD pair broke out of its consolidation trend at the beginning of European trades on the back of broad retreat of the US dollar. Today the weakness of the greenback remains one of the key driving factors across the market, as investors are recalibrating its positions ahead of the FOMC meeting. However, markets have already priced in hawkish Fed decision, so investors would be looking for projections on the monetary policy of the Fed for 2018, which would eventually help the greenback to determine its further direction. Looking ahead, today we will have pretty busy trading session, with German ZEW economic sentiment and the US PPI report, while the speech of ECB head M.Draghi will be the main event of this Tuesday.

 

The GBP/USD pair remains under selling pressure on Tuesday on the back of recent developments regarding Brexit. On Monday, the pound received bearish impetus following comments by Brexit secretary David Davis, who said that UK wouldn’t pay agreed Brexit divorce bill if both sides fail to find a compromise on trade deal issue. However, the pair managed to stall its retreat and consolidate its position in 1.3335-55 range during the Asian session on the back of softer tone around the greenback ahead the key event of this week. Adding to this, ongoing interest to higher-yielding assets continues to lend some support to the pound at the first half of this week. Now immediate focus shifts towards the UK CPI report, which will hog the limelight during the European trading session, while the US PPI data will also be able to bring some trading opportunities later ahead.

 

The AUD/USD pair trades on a positive note for the second session in a row, extending recovery from its 6-month lows, marked in the vicinity of 0.7500 level on Friday, in wake of several bullish factors, which are navigating the pair today. One of the reasons of pair’s bullish trend remains widespread risk appetite, which is positively affecting higher-yielding Aussie. However, expected that the demand for risky assets won’t last long, as markets are becoming cautious ahead of the Fed interest rate decision, which will be announced on Wednesday. Adding to this, mildly softer tone around the US dollar, backed by defensive stance of US bulls, also contributes with pair’s upside trend. On the data front, today the US will publish the PPI report, which will be able to form short-term trajectory of the pair during the NA session.

 

Bitcoin continues to conquer the heights. Yesterday the BTC/USD pair once again refreshed its all-time tops at the 17,425.00 mark. Recent bitcoin rally could be mainly explained by the fact that Chicago-based CBOE Global Markets exchange launched the first Bitcoin futures contract. However, the spike was short-leaved and the pair retreated to the area of 16,500.00 with further consolidation. By the moment of writing, the price for the largest cryptocurrency was $16,390.00, while its market capitalization fell just below the mark of 280 billion USD, by the data available at coinmarketcap.com

 

The main events of the day:

US PPI – 15.30 (GMT +2)

ECB President M.Draghi’s Speech – 21.00 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1731 R. 1.1829

USDJPY                 S. 113.05 R. 113.93

GBPUSD               S. 1.3265 R. 1.3467

USDCHF               S. 0.9874 R. 0.9964

AUDUSD              S. 0.7481 R. 0.7567

NZDUSD               S. 0.6791 R. 0.6989

USDCAD               S. 1.2813 R. 1.2889

 

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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.

Read the license agreement, select the check box I accept the agreement and click Next to proceed.

Indicate directory where you previously installed MetaTrader 4. To start the installation click Install.

When the installation process is finished, the Next button will be activated.

Click Finish to close the installation dialog box. Activate Launch MT terminal option if you want MT4 launched after you click Finish.

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.

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.

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.

Read the license agreement, select the check box Yes, I agree with all terms of this license agreement and click Next to proceed.

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.

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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