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04 04 11:04
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Daily economic digest from Forex.ee

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The EUR/USD pair failed to extend its overnight recovery and dip to the region of 2-week lows, located near the level of 1.2250. The latest downside trend of the pair is mainly attributed to attempts of the US dollar to recover its positions after recent drawdown, caused by trade tensions between the US and China. However, today we will have a rather busy session ahead, so most likely the US dollar price dynamics will take a back seat. In the day ahead, the European economic calendar will offer markets preliminary inflation figures, while the US have prepared the ADP report and the ISM Non-manufacturing data, which will be able to form pair’s further trajectory this Wednesday.

 

The USD/CAD pair tried to recover part of its losses in early Europe after massive drawdown, witnessed earlier this week. Yesterday the pair received notable bearish impetus following news headlines, saying that US President D.Trump intends to reach a deal on NAFTA during the final round of talks at a Summit on April 9th. Hopes that the US and Canada will be able to avoid disagreements during negotiations on NAFTA sparked the demand for the Loonie. On the other hand, bearish dynamics of oil prices negatively affected commodity-linked Canada’s currency, thus limiting pair’s further retreat. On the data front, traders now look forward to a slew of the US data, featuring ADP employment report and ISM non-manufacturing PMI, which will be able to set up pair’s next short-term direction during the NA session.

 

The AUD/USD pair shows positive dynamics in the middle of the week, which was additionally underpinned by positive data from the Australian economy. Earlier this session, the pair received notable bullish impetus after Australia published retail sales data, which came above market’s expectations, thus allowing the pair to refresh its weekly highs at 0.7715 spot. However, the pair failed to keep its positions and retreated below the level of 0.7700 in early Europe, as the ongoing trade tariff spat between the US and China forces investors to pay attention to less risky assets lately. In the day ahead, the US data calendar will offer investors a slew of economic data, including ADP employment change numbers, which are usually considered as pre-NFP data.

 

The USD/JPY pair was trading in the region of 106.45-65 during the Asian session, struggling to find a direction. The pair staged solid recovery earlier this week, having stepped over the level of 106, that could be explained by attempts of the US dollar to recover after its recent drawdown, triggered by trade conflict, emerged between the US and China. However, the pair met resistance at 106.65 level, as a US-China trade war continue to hammer risk appetite, thus boosting demand for the safe-haven yen. Meanwhile, today traders will remain in anticipation of the US data releases, which will be able to spark some volatility across the market during the NA session, however, risk-off sentiment will continue to influence the pair, as we heading towards the release of NFP, which are scheduled for this Friday.

 

Major events of the day:

UK Construction PMI – 11.30 (GMT +3)

Prelim. EU CPI – 12.00 (GMT +3)

US ADP Nonfarm Employment Change – 15.15 (GMT +3)

US ISM Non-Manufacturing PMI – 17.00 (GMT +3)

US Crude Oil Inventories – 17.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2203 R. 1.2367

USDJPY                 S. 105.35 R. 107.27

GBPUSD               S. 1.3988 R. 1.4124

USDCHF               S. 0.9508 R. 0.9636

AUDUSD              S. 0.7625 R. 0.7735

NZDUSD               S. 0.7165 R. 0.7315

USDCAD               S. 1.2695 R. 1.2979

 

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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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