The EUR/USD pair remains offered this Thursday, as US bulls are still dominating the market, sending the pair to refresh its 2-week lows at 1.2236 mark. The main driving factor across the market today remains a solid pickup in the demand for the US dollar, which continues to exert pressure on the pair this week. However, further sharp moves of the pair look unlikely, as investors are remaining in cautious stance ahead of important events, related to the BoE, and which will be able to bring some correlational impetus to the pair during European trades. Today in the economic data calendar investors won’t find anything important, except several speeches by members of both CBs, which most likely won’t attract much of attention, so US dollar price dynamics will continue to stay the key driving factor for the pair during this trading session.
The GBP/USD pair trades with mildly bullish bias today, despite significant drop in interest around higher-yielding assets, as investors are looking forward to today’s big events. During the European session, the BoE will decide on its interest rate, as well as publish its quarterly inflation report, which expectedly will bring some volatility among all GBP pairs. In Asia, the pair was showing minor activity, which is the normal state for the pair amid cautious pre-rate decision market conditions. Today investors expect that the Bank will keep its rate unchanged, as only three months have passed since the last rate hike, so expected that the regulator will continue to maintain its wait-and-see mode, while any Bank’s economic projections, especially indicated in Inflation Report, will have significant impact on the pound. Besides the key events, related to the BoE, nothing important is scheduled in the economic calendar, so all investors’ attention will remain focused to the possible changes in the BOE’s monetary policy program.
The NZD/USD pair remains under heavy pressure of multiple factors this Thursday, which are significantly weighing the Kiwi, and forced the pair to reach its monthly lows, located below the level of 0.72. The main bearish factor for the pair remains the outcome of the RBNZ meeting, which was perceived by the market as a dovish. As it was widely expected, the Bank left its Official Cash Rate unchanged at 1.75 %, however, downgrading its outlooks for inflation and GDP. Regarding further policy course, the CB stated that it would continue to adhere accommodative monetary policy for a considerable period, as numerous uncertainties still persist and policy needs to be adjusted accordingly. Adding to this, dovish comments of RBNZ Assistant Governor J.McDermott, who said that further drop in inflation could trigger a rate cut, exerted extra pressure on NZD/USD. Another bearish factor that navigates the pair today is broadly increased demand for the US dollar. On the data front, today the US economic calendar won’t bring us anything noteworthy, leaving the pair at the mercy of greenback price dynamics, while market participants will continue to digest recent event.
The USD/JPY pair keeps its bid tone in the second half of this week, despite better demand for safety, seen during Asia. First, the yen received notable bearish impetus following comments of BoJ Governor Haruhiko Kuroda, who was speaking in the Japanese parliament. The head of the CB reaffirmed that the central bank will continue powerful quantitative easing to achieve price stability. Moreover, increased buying interest around the US dollar, witnessed during this week, also remains supportive for the pair today. Looking ahead, in absence of any relevant data releases from the US side, the pair will continue to follow the US dollar price dynamics, which remains the key driving factor across the market this Thursday.
Major events of the day:
BoE Inflation Report – 14.00 (GMT +2)
BoE Interest Rate Decision – 14.00 (GMT +2)
BoE Governor M.Carney’s Speech – 14.30 (GMT +2)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2145 R. 1.2465
USDJPY S. 108.52 R. 110.12
GBPUSD S. 1.3760 R. 1.4054
USDCHF S. 0.9293 R. 0.9523
AUDUSD S. 0.7756 R. 0.7940
NZDUSD S. 0.7127 R. 0.7399
USDCAD S. 1.2457 R. 1.2631
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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.