The EUR/USD pair extends its rebound from weekly lows, marked earlier this session at 1.2165 spot, and has climbed above the level of 1.22. Yesterday the pair again refreshed its 3-year highs on the level of 1.2323, however, having failed to keep its positive tone and dropped for more than a cent in wake of attempts of the US dollar to recover its positions across the market. Moreover, neutral EU inflation data, seen yesterday, also failed to cheer up European bulls. On the other hand, the pair managed to regain its mildly bullish tone as ongoing speculations regarding convergence between monetary policies of the Fed and other major central banks are still weighing the greenback. On the data front, today the European economic calendar won’t offer investors anything noteworthy, while the US will release a slew of important reports during the NA session.
The USD/CAD pair remains directionless this Thursday, having recovered after yesterday’s volatile session. On Thursday, the pair received strong bearish impetus, having refreshed its 2-week lows at 1.2365 spot, following the outcome of BoC meeting. As it was widely expected, the regulator increased its interest rate by 25 bpts to the level of 1.25%. However, the pair failed to keep its bearish trend, as less hawkish comments of the BoC Governor S.Poloz during the accompanying press conference weighed the loonie somewhat. The head of the CB stated that additional rate hikes would be implemented, if required, but for now the Bank would keep accommodative policy, as further actions of the regulator are fully data-dependent. Moreover, subdued dynamics of oil prices and continuing attempts of the US dollar to recover its positions also provide support to the pair this Thursday. Looking ahead, today we have pretty busy session, as the economic calendar will bring us a slew of important data releases from both neighboring economies during the NA session.
The AUD/USD pair remains positive this Thursday, moving closer to its 4-month highs, marked at 0.8023 a day before. Seems that Australian bulls remained unimpressed by higher-than-expected Australia’s employment change numbers, showing minor reaction on the important numbers. Moreover, Chinese GDP and industrial production reports, seen this morning, also failed to accelerate pair’s upside trend. The main reason of pair’s subdued dynamics remain ongoing tries of the US dollar to correct higher against its major rivals. On the data front, today investors’ attention will remain focused on the data from the US housing market and Philly Fed manufacturing index, which will be released during the NA session, while the US dollar price dynamics will remain the key navigator for the pair this Thursday.
Bitcoin took a breather today after yesterday’s sharp downside rally. The digital currency has lost nearly 50% of value from its highest price, marked in the region of $20000 at the end of the last year. Yesterday the BTC/USD pair refreshed its 2-month lows at 9211.10 spot on the back of ongoing oppressions of cryptocurrencies from Asian authorities. According to the latest news headlines, Chinese government is planning to tighten measures aimed at limiting the mining of cryptocurrencies on its territory, while S.Korea is considering a ban of trading cryptocurrencies. However, seems that Bitcoin managed to regain its positive mood along with the market of virtual currencies that could be explained by technical correction. By the moment of writing, the BTC/USD pair was trading at 10,560.00, while the market capitalization of the world’s most known cryptocurrency dropped to 191 billion US dollars, according to data available at coinmarketcap.com.
Major events of the day:
US Building Permits – 15.30 (GMT +2)
Philadelphia Fed Manufacturing Index – 15.30 (GMT +2)
Canada ADP Nonfarm Employment Change – 15.30 (GMT +2)
US Crude Oil Inventories – 18.00 (GMT +2)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2081 R. 1.2375
USDJPY S. 109.79 R. 112.09
GBPUSD S. 1.3655 R. 1.4027
USDCHF S. 0.9540 R. 0.9714
AUDUSD S. 0.7895 R. 0.8059
NZDUSD S. 0.7182 R. 0.7376
USDCAD S. 1.2262 R. 1.2620
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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.