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19 03 11:03
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Daily economic digest from Forex.ee

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The EUR/USD pair follows broad market trend today, caused by the growth of the US dollar against its main competitors. According to investors’ expectations, the Fed is to increase its interest rate by 25 bps this Wednesday, which is the key market-moving theme today, thus forcing the pair to trade with a bearish bias at the start of this week. Moreover, taking into account upcoming events, divergence between the Fed and ECB also comes into play, as latest comments by ECB officials showed that the Bank would continue to maintain accommodative monetary policy, while EZ inflation growth pace continues to show disappointing results. Looking ahead, today the economic calendar won’t offer us anything noteworthy, so widespread market sentiment, caused by upbeat price dynamics of the US dollar, will continue to form pair’s further trajectory.

 

The GBP/USD pair keeps offered tone this Monday on the back of busy economic week ahead. Currently the pair is trading at 1.3923 level, having retreated from its intraday highs, marked at 1.3949, as cautiousness ahead of both regulators’ interest rate decisions negatively influences higher-yielding pound. Investors are awaiting that both Banks will adhere more hawkish policy tightening strategy this year, as both economies are showing pretty robust results lately. Moreover, tomorrow the UK will publish inflation data, which will additionally hint at how aggressive measures the BoE will apply to its monetary policy this year. However, today the economic calendar won’t bring us anything important, so the pair will continue to follow broad market trend this Monday.

 

The AUD/USD pair remains heavily offered at the start of this week, having lost more than two cents since last Thursday tops and refreshed its 3-month lows on the level of 0.7687. The main reason of pair’s retreat remains increased demand for the US currency, as investors are pricing in Fed rate hike, which is scheduled for this Wednesday. Adding to this, softer tone on the commodity market, especially around metals, such as gold and copper, also contributes to pair’s retreat. In absence of any important market-moving event from the US side, today the price dynamics of the US dollar will continue to navigate the pair during this trading session, however, investors will remain in anticipation of the RBA minutes, which will be published during the next Asia.

 

 The USD/JPY pair started this week with on a negative note, despite better sentiments around the greenback. Seems that risk-off sentiment is still gripping the market, thus benefitting the yen, as safe-haven asset. Fears of a global trade war, triggered by D.Trump’s tariffs on steel and aluminum, which will be implemented on March 23rd , remain one of the key driving factors for the pair today. Moreover, it is expected that broad cautiousness will continue to influence the market in the next couple of days, as traders are awaiting for the Fed interest rate decision, which will take place this Wednesday. According to markets’ expectations, the regulator will increase its interest rate, however, investors will also closely watch for any comments regarding further Fed rate strategy. On the data front, today the US data calendar will remain silent, therefore, the pair will continue to follow broad market sentiment during today trades.

 

Major events of the day:

None

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2218 R. 1.2370

USDJPY                 S. 105.21 R. 106.73

GBPUSD               S. 1.3843 R. 1.4029

USDCHF               S. 0.9454 R. 0.9578

AUDUSD              S. 0.7645 R. 0.7835

NZDUSD               S. 0.7160 R. 0.7306

USDCAD               S. 1.3025 R. 1.3133

 

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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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