The EUR/USD pair shows positive dynamics for the second day in a row on the back of mixed sentiments around the dollar. The greenback remains broadly offered in the first half of this week in wake of increased cautiousness ahead of the Senate vote on the US tax reform bill, which, in turn, supports the major currency pair. Moreover, broad cautiousness ahead of important US economic event also offers some support to the euro, thus collaborating with recent upside trend of the pair. On the data front, now investors remain in anticipation of the German IFO business climate survey, while bloc of data from the US housing market will bring some fresh trading opportunities during the NA session. The key focus, however, would remain on a possible Senate vote on the US tax reform bill.
The GBP/USD pair follows broad market trend this Tuesday, having resumed its recovery in Asia. Recent positive dynamics of the pair could be mainly explained by broad weakness of the US dollar in wake of anticipation of fresh developments on the US tax reform. However, further upside of the pair looks fragile, as lack of steady progress in Brexit negotiations and uncertainty on the political field of Britain continue to weight on the pound. In absence of any data releases from the UK economy the pair will continue to follow broad market trend in Europe, while data from the US housing market will be able to attract investors attention later ahead.
The AUD/USD pair recovered its positive trend in Asia on the back of slightly optimistic RBA Meeting Minutes. The Bank once again reiterated that further rise of the Aussie could slow down growth paces of economy and inflation. Adding to this, members of the RBA Board also noted the recent positive indicators from the Australian labor market. As a result, the market showed sluggish reaction on RBA minutes meeting, as they didn’t provide any surprise or show CB’s intention on further monetary policy tightening. Moreover, renewed softness around the greenback, witnessed during Asia, also collaborated with pair’s recent recovery. Today traders will focus their attention on the bloc of data from US housing market, featuring the building permits report, which will be able to bring fresh trading opportunities at the beginning of the NA session.
The USD/JPY pair stalled its Asian recovery and retreated slightly from intraday highs, marked at 112.66, on the back of renewed weakness of the US dollar. Today, the greenback came under fresh selling pressure, as investors remain cautious in wake of upcoming Senate vote on much-awaited tax cut, which is expected to take place this Tuesday or Wednesday. Adding to this, investors remain in anticipation of another important event – meeting of the BoJ, which also causes markets to stay cautious, thereby keeping the pair under pressure. Later today, investors will look forward the US data from housing market for fresh directional impetus, while broad market trend will remain as the key driving factor, which will help USD/JPY to determine its further trajectory.
The main events of the day:
German Ifo Business Climate Index – 11.00 (GMT +2)
US Building Permits – 15.30 (GMT +2)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1686 R. 1.1882
USDJPY S. 112.03 R. 113.07
GBPUSD S. 1.3261 R. 1.3477
USDCHF S. 0.9793 R. 0.9947
AUDUSD S. 0.7624 R. 0.7698
NZDUSD S. 0.6967 R. 0.7041
USDCAD S. 1.2823 R. 1.2901
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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.
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.
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.
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.