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05 04 11:04
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Daily economic digest from Forex.ee

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The EUR/USD pair remains offered this Thursday, having refreshed its 2-week lows at 1.2249 spot. The main reason of pair’s recent retreat could be called ongoing buying interest around the US dollar on the back of easing turmoil regarding trade conflict between the US and China. Moreover, the downside move of the pair was additionally underpinned by a swing in risk sentiment that weighed on the common currency this Thursday. On the data front, today both economies won’t bring us anything interesting, so markets will remain in anticipation of Friday’s NFP risk event, but until then widespread trend, backed by the US dollar price dynamics and risk sentiment, will be the key navigator for the pair.

 

The GBP/USD pair lost its positive tone this Thursday after three days at a profit. Earlier in the Asian session, the pair faced resistance near the level of 1.4100 and retreated to the area of 1.4050 on the back of ongoing recovery of the US dollar, backed by fading market talks regarding the US-China trade spat. On the other hand, slightly improved risk appetite could provide the pound with some support in the day ahead. However, the recovery of risk sentiment is expected to be short-leaved, as we are heading towards the release of Non-Farm Payrolls, which is scheduled for this Friday. But today traders’ attention will remain focused to the UK’s Services PMI due for release during the European session, while the US calendar will remain silent, offering markets only secondary data reports.

 

The AUD/USD pair failed to keep its upside trend and eased part of its yesterday’s gains, having retreated below the level of 0.7700, despite several supportive factors. Seems that bulls mostly ignored positive Australia’s retail sales numbers, released earlier during this session, as well as recovery of risk sentiment, offering no support to the Australian currency. The main reason of pair’s decline could be called ongoing recovery of the US dollar, which forced the pair to change its direction in early Asia. Moreover, weaker gold and copper prices additionally weighed on the commodity-linked Aussie this Thursday. In the day ahead, the US data calendar won’t offer markets anything interesting, leaving the pair at the mercy of widespread sentiment, which will help the pair to form its short-term trajectory this Thursday.

 

The USD/JPY pair keeps its bullish tone for the third consecutive session, having tested the resistance level of 107.00. Today the recovery of risk appetite remains the key theme across the market, which was caused by easing talks over the US-China conflict, while sending the pair to the region of its weekly highs, marked on the level of 107.00. Adding to this, positive US dollar price dynamics also contributes to pair’s upside this Thursday. However, further recovery of risk-on sentiment looks fragile, as investors are looking forward to important data from the US labor market, which will be released on Friday. However, today the economic data calendar won’t bring us anything noteworthy, so broad market trend will remain as the key determinant for the pair this Thursday.

 

Major events of the day:

UK Services PMI – 11.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2225 R. 1.2341

USDJPY                 S. 105.67 R. 107.39

GBPUSD               S. 1.3979 R. 1.4145

USDCHF               S. 0.9530 R. 0.9650

AUDUSD              S. 0.7640 R. 0.7758

NZDUSD               S. 0.7230 R. 0.7348

USDCAD               S. 1.2699 R. 1.2879

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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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