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15 01 01:01
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Daily economic digest from Forex.ee

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The EUR/USD pair is remaining within striking distance of its multiyear highs, marked earlier this morning at 1.2240 spot, as weakness of the US dollar is still dominating the market. The offered tone of the US dollar could be explained by recent market trend, based on speculations regarding potential convergence of monetary policies of the Fed and major central banks. Adding to this, positive news from the German political field, saying that German party leaders have finally reached a breakthrough on the coalition talks, and speculations on recent hawkish ECB minutes also contribute to pair’s bullish trend this Monday. However, it is expected that the pair won’t show any sharp moves today, as the US market will remain closed in wake of celebration of Martin Luther King, Jr. Day, while the EU data calendar remains absolutely empty this Monday, leaving the pair at the mercy of widespread market sentiments.

 

The GBP/USD pair follows broad market trend and extends it recent massive rally, remaining more than 2 cents higher Friday’s lows. Pair’s recent upsurge could be explained by weakness of the US dollar against its main competitors, which allowed the pair to refresh its tops at 1.3768 level, last seen in the day of Brexit referendum ( 23 June 2016). Adding to this, positive news headlines regarding Brexit, which says that Dutch and Spanish finance ministers are now supporting soft Brexit, triggered massive demand for the UK currency on Friday and are still supporting the pair. Today we have absolutely empty data calendar, so broad market mood will remain the sole driving factor for the pair at the start of this week.

 

The AUD/USD pair once again became a top gainer of the session, extending its northward march for the fourth session in a row, while refreshing its 4-month highs at 0.7960 level, as multiple bullish factors support the pair at the start of this week. First of all, ongoing weakness of the US dollar is still dominating the market, becoming the key reason of pair’s recent upside trend. Moreover, increased demand for risky assets also exerts support to higher-yielding Aussie this Monday. Meanwhile, the US market will remain closed today in observance of Martin Luther King Jr. Day, therefore US bulls will remain unable to support the greenback. Since the US market will remain closed, the economic calendar won’t bring us anything noteworthy, and the US dollar price dynamics will continue to navigate the pair this Monday.

 

The USD/JPY pair remains broadly offered, wobbling in the vicinity of its 4-month lows, marked at 110.58 in Asia. It seems that the weakness of the US dollar is still gripping the market, forcing the pair to retreat for the sixth day in a row, while the yen pay no attention to increased interest to risky assets. Moreover, Friday’s positive US inflation numbers also failed to provide the greenback with enough support to stop its downside trend. On the data front, today nothing important is scheduled in data calendar, while the US market will remain closed due to Martin Luther King Jr. Day celebration, so dynamics of the US dollar will continue to drive the pair during this trading session.

 

Major events of the day:

US – Martin Luther King, Jr. Day

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1961 R. 1.2337

USDJPY                 S. 110.42 R. 111.98

GBPUSD               S. 1.3452 R. 1.3880

USDCHF               S. 0.9595 R. 0.9807

AUDUSD              S. 0.7814 R. 0.7972

NZDUSD               S. 0.7189 R. 0.7303

USDCAD               S. 1.2383 R. 1.2593

 

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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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