The EUR/USD pair follows broad market trend today, breaking the resistance level of 1.2300 in early Europe. The key reason of pair’s recent upside trend remains broad softness around the US dollar, as investors are still locking some profit after bullish rally of the greenback, witnessed last week. This dynamics of the US dollar is especially relevant ahead of important US inflation data, which will be published this Wednesday. Moreover, strong risk-off sentiment, which is dominating the market this week, could also be involved in recent pair’s growth. Looking ahead, today we will have another quiet trading session, as both economic calendars again won’t bring us any surprises, thus leaving the pair at the mercy of broad market trend on Tuesday.
The GBP/USD pair keeps mildly bullish trend this Tuesday, while investors remain in anticipation of the key event of this day. The positive mood of the pair could be mostly explained by retreat of the US dollar against its major counterparts. However, further upside trend of the pair remains limited amid broad demand for safety, which is additionally boosted by overall cautiousness ahead of the UK inflation report, which will be published in the next few hours. This data looks especially interesting in wake of recent talks of BoE members about monetary policy tightening measures, triggered by positive results of the UK economy. Besides the UK inflation report, nothing interesting is scheduled in the data calendar for today, so the impact after the UK data and market trend will remain key determinants for the pair this Tuesday.
The USD/JPY pair remains highly offered this Tuesday, trading on a striking distance of its 5-month lows, marked in the vicinity of 108.00 last week. Persisting risk aversion remains the key driving factor for the pair at the first half of this week, thus exerting notable support to the safe-haven yen. Moreover, ongoing correction of the US dollar also negatively affects positions of the pair, sending it towards recent dips. It seems that the pair even ignored dovish talks of the BoJ Governor H.Kuroda, who once again reiterated the need of maintaining current policy, as inflation level is still far away from its target level. On the data front, today the US economic calendar once again will leave investors without any surprise, so broad market trend, backed by risk sentiment and softness around the US dollar, will keep navigating the pair during this trading session.
The AUD/USD pair trades with a bullish bias for the third consecutive session, extending its rebound from 7-week lows, marked at 0.7759 spot last Thursday. Recent upside trend of the pair is mostly attributed to broad softness around the US dollar, as American bulls remain exhausted after recent strong upside rally of the greenback. Adding to this, positive Australia’s business confidence numbers, published during the Asian trading session, also exerted some support to the Aussie. However, further gains of the pair look capped, as risk-off sentiment, additionally underpinned by the upcoming US inflation report, negatively affects risky Australian dollar. Today, in absence of any market-moving data in the US data calendar, the pair will remain influenced by the US dollar dynamics and risk sentiment during this trading session.
Major events of the day:
UK CPI – 11.30 (GMT +2)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2211 R. 1.2337
USDJPY S. 108.20 R. 109.10
GBPUSD S. 1.3755 R. 1.3915
USDCHF S. 0.9345 R. 0.9427
AUDUSD S. 0.7790 R. 0.7898
NZDUSD S. 0.7211 R. 0.7303
USDCAD S. 1.2518 R. 1.2654
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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.