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20 02 12:02
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Daily economic digest from Forex.ee

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The EUR/USD pair follows broad market trend this Tuesday, extending correction from its 3-year highs. Today the recovery of the US dollar, started on Friday, remains the key underlying theme of this trading session. Recent upside trend of the greenback was additionally underpinned by upbeat tweets of the US President D.Trump, who sees the US economy even better than anticipated. Today the EU calendar will bring us Eurozone’s and German ZEW economic sentiment surveys, which will be able to influence pair’s direction during the European trading session, however, widespread market trend, caused by growth of the US dollar, will remain the key determinant for the pair this Tuesday.

 

The GBP/USD pair remains bearish for the third consecutive trading session on the back of reappeared fears regarding Brexit and positive sentiments around the US dollar. According to the latest market talks, the UK government is working on a backup plan in case Britain and the EU don’t reach a compromise regarding trade deal. These rumors make us think that the UK is beginning to prepare for the consequences that may occur if further negotiations on Brexit go wrong. Adding to this, recent comments of the EU negotiator Guy Verhofstadt also added some fuel to the fire, as he said that trade deal wouldn’t be reached before the final Brexit day, while also stressing that the EU wouldn’t accept the UK refusal on the policy of free movement. Moreover, ongoing recovery of the US dollar, witnessed since last Friday, is also contributing to the recent pair’s upside trend. Looking ahead, today both economic calendars will remain silent, leaving the pair at the mercy of broad market trend.

 

The AUD/USD pair struggles to find direction this Tuesday in wake of mixed reaction on the RBA meeting minutes. Earlier today, the market took ambiguously the latest protocols of the RBA, as the regulator once again stressed that higher positions of AUD could be harmful for the Australian economy. Adding to this, the CB reiterated that the inflation growth pace will remain subdued, while stressing that growth is still expected. These comments regarding expectations of still positive inflation have stopped bears from taking the pair under its total control. However, seems that the market has already passed over the RBA minutes, as all in all they didn’t bring anything new concerning the Australian economy. In the day ahead, the digestion of the RBA meeting minutes will step aside and the US dollar price dynamics will take the lead in determining pair’s further trajectory, while the US economic calendar will remain silent this Tuesday.

 

The USD/JPY pair extends its rebound from 15-month lows, marked last Friday, on the back of several factors, which are exerting support to the pair lately. First, it seems that the sell-off of the yen, sparked by recent comments of Japanese authorities, saying that intervention in the FX market is unlikely, is still full of steam, thus providing support to the pair. Furthermore, recovery of the US dollar remains the key driving factor across the market today, thus additionally boosting upside trend of the pair. On the data front, nothing much is scheduled in the economic calendar for this Tuesday, so further US dollar price action will keep the status of the key determinant for the pair during this trading session.

 

Major events of the day:

German ZEW Economic Sentiment – 12.00 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2336 R. 1.2470

USDJPY                 S. 105.83 R. 107.09

GBPUSD               S. 1.3910 R. 1.4092

USDCHF               S. 0.9233 R. 0.9347

AUDUSD              S. 0.7878 R. 0.7952

NZDUSD               S. 0.7321 R. 0.7433

USDCAD               S. 1.2493 R. 1.2625

 

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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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