The EUR/USD pair shows positive dynamics this Thursday, having tested the resistance level of 1.1940 in early Europe. Recent upward move of the pair is mainly due to a fresh bout of aggressive selling of the US dollar, caused by yesterday’s red numbers of CB consumer confidence and closing of greenback bids ahead of the New Year holiday. Adding to this, still positive sentiments around the common currency, backed by recent ECB’s revision of its economic growth forecasts, provide extra support to the pair in the second half of this week. Looking ahead, today nothing noteworthy is scheduled in the data calendar, so broad market trend will remain as a key navigator for the pair during this session, while light trading will continue to persist ahead of the New Year celebration.
The GBP/USD pair remains positive for the third session in a row, having refreshed its 2-week highs in the region of 1.3450. The main reason of pair’s recent bullish rally is mostly related to broad weakness of the US dollar, caused by closing bid positions on the US dollar ahead of the New Year. Moreover, slightly increased appetite for more risky assets also collaborates with pair’s recent upside trend. Today we are expecting pretty calm session, as both data calendars offer only secondary data reports, leaving the pair at the mercy of the US dollar price dynamics, while markets will continue to experience lowered liquidity and thin pre-holiday trades.
The USD/JPY pair came under strong selling pressure during the Asian session, having dropped to its weekly lows, marked at the 112.66 spot, as broad sell-off of the US dollar is still gripping the market. Recent weakness of the US dollar could be explained by closing USD bid orders at the end of this year. Moreover, pack of better-than-expected Japan’s macro indicators provided positive impetus to the yen, thus adding some extra pressure on the pair. On the data front, today the US economic calendar will remain broadly silent, so broad market trend and the US dollar dynamics will remain as key determinants for the pair during this trading session.
Bitcoin failed to keep positive mood. Yesterday the BTC/USD pair once again changed its direction and today fell below the level of 14,000.00 during Asian trades. The latest leg down of the world’s most popular cryptocurrency is mostly attributed to the latest news headlines, saying that South Korean government is planning to conduct an additional review of cryptocurrency exchanges to limit ongoing speculations. Adding to this, recent warnings by financial authorities regarding potential risks of a crypto bubble also exert some pressure on the digital currency. By the moment of writing, the price for Bitcoin was 13,698.00 US dollars, while its market capitalization dropped to 243 billion USD, according to data from coinmarketcap.com.
Major events of the day:
US Crude Oil Inventories – 18.00 (GMT +2)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1831 R. 1.1943
USDJPY S. 112.91 R. 113.52
GBPUSD S. 1.3337 R. 1.3463
USDCHF S. 0.9833 R. 0.9923
AUDUSD S. 0.7701 R. 0.7816
NZDUSD S. 0.7009 R. 0.7106
USDCAD S. 1.2583 R. 1.2727
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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.