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26 02 11:02
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Daily economic digest from Forex.ee

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The EUR/USD pair caught fresh pips in Asia, following broad market trend, caused by retreat of the US dollar against its main rivals. However, the pair still remains weighed down, following meeting minutes of both CBs, which triggered fresh speculations regarding divergence between monetary policies of the Fed and ECB. Talks about widening divergence have negatively affected the pair, as Fed’s protocols showed the need of tightening monetary policy, which was especially relevant in light of recent positive US inflation data, while the ECB didn’t provide markets with any surprise. Now all investors’ attention shifts toward speeches of the heads of the CBs – Mr.Draghi and Mr.Powell, which both will take place in the first half of this week and will be able to heat up or cool off recent market’s talks regarding widening divergence between two monetary policies.

 

The GBP/USD pair remains bullish for the third consecutive session, having leaped above its psychological mark of 1.4000, while refreshing its weekly highs. Recent bullish rally of the pair could be explained by several factors, which are pushing the pair in northward direction. First, renewed sell-off of the US dollar remains the key driving factor on the market today, thus exerting support to the pair. Adding to this, recent hawkish comments of the BoE Deputy Governor D.Ramsden, who said that expects to see rate hike sooner than it was planned previously, provided extra support to the pound. And finally, easing fears around Brexit also positively affected positions of the pair. Looking ahead, today the macro calendar will bring us only US data from housing market, so widespread trend will remain the key determinant for the pair on Monday.

 

The USD/JPY pair remains broadly offered at the first working day of the week on the back weaker sentiment around the dollar. Today the key driving theme across the market remains downside trend of the US currency, which started at the end of the last week. Taking into account recent trend, the yen ignored several bearish factors during this Asia, such as increased demand for risky assets and speech of the BoJ Governor H.Kuroda, who once again stressed that the regulator would continue powerful monetary easing to achieve inflation target level. However, further interest for risky instruments may appear capped, as markets are awaiting for Fed Charman Jerome Powell’s congressional testimony, where he could provide fresh comments regarding further Fed monetary policy. Today we have pretty light macro calendar, with only the US new home sales report, so broad market sentiments will continue to navigate the pair on Monday.

 

The NZD/USD pair entered the top most profitable assets of this Asian session, following several bullish factors, which support the Kiwi this Monday. First, new wave of greenback weakness dominates the market today, allowing the pair to grow for more than 60 pips since its daily lows, marked at 0.7277 spot. Moreover, increased risk appetite and upbeat sentiments on the commodity market are two more bullish factors that support the NZ currency on Monday. On the data front, today the US calendar will bring us data from the housing market, while demand for higher-yielding instruments and US dollar price dynamics will continue to determine pair’s further trajectory during this trading session.

 

Major events of the day:

ECB President M.Draghi’s Speech – 16.00 (GMT +2)

US New Home Sales – 17.00 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2245 R. 1.2361

USDJPY                 S. 106.21 R. 107.45

GBPUSD               S. 1.3856 R. 1.4060

USDCHF               S. 0.9295 R. 0.9403

AUDUSD              S. 0.7787 R. 0.7871

NZDUSD               S. 0.7229 R. 0.7375

USDCAD               S. 1.2537 R. 1.2771

 

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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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