The EUR/USD pair follows broad market trend in the middle of this trading week, having spiked the level of 1.2200 in early Europe. Yesterday the pair managed to recover some part of its losses after 3-day southern rally on the back of downside correction of the US dollar. However, it seems that the greenback regained positive tone this Wednesday, thus forming fresh market trend. On the other hand, typical cautiousness ahead of much-awaited ECB meeting, which is scheduled for tomorrow, could limit further decline of the pair. On the data front, today both economic calendars won’t offer investors anything interesting, leaving the pair at the mercy of the US dollar dynamics, which is dominating the market lately.
The GBP/USD pair failed to extend its upside correction, having met resistance on the level of 1.4000 in Asia. Yesterday the pair managed to recover some pips after its massive drawdown. However, the correction was short-lived and the pair again came under bearish control. The main reason of recent pair’s weakness could be called broad demand for the US dollar, which is the main driving factor across the market lately. Moreover, ongoing sell-off of the UK currency, caused by a slew of negative British data and dovish comments of the BoE Governor, also weighs the pair lately. Today the economic calendar won’t be able to surprise traders with any important data releases, so the pair will continue to follow broad market trend, backed by the US dollar price dynamics.
The AUD/USD pair remains the biggest loser of this Asian session, extending its retreat after yesterday’s quiet session. Today the pair again refreshed its 5-month lows on the level of 0.7571 on the back of several bearish factors, which are dragging it into the negative territory. First, returned broad-based demand for the US dollar again became the key theme of the market at the equator of this week. In addition to that, swing in risk sentiment also negatively affects the higher-yielding Aussie today. In the day ahead, we are expecting a fairly calm session, as the US economic calendar won’t offer investors anything interesting and the Australian markets will remain closed due to the celebration of ANZAC Day, so the US dollar dynamics will be the main navigator for the pair this Wednesday.
The USD/CAD pair regained its positive tone and now is moving towards its 3-week highs, marked at 1.2861 spot earlier this week. Yesterday the pair stalled its bullish rally and eased part of its gains on the back of slight downside correction of the US dollar. However, it seems that demand for the greenback returned to the market, thus forcing the pair to regain its bullish trend this Wednesday. In addition to that, decline of oil prices from its multi-year highs also contributes to pair’s positive dynamics. Looking ahead, today the US data calendar will offer investors only crude oil inventories, so investors will focus their attention on the BoC Governor S. Poloz’s speech for any fresh comments regarding further monetary policy of the Bank.
Major events of the day:
Australia – ANZAC Day
New Zealand – ANZAC Day
US Crude Oil Inventories – 17.30 (GMT +3)
BoC Governor S. Poloz’s Speech – 23.15 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2156 R. 1.2284
USDJPY S. 108.20 R. 109.50
GBPUSD S. 1.3890 R. 1.4030
USDCHF S. 0.9746 R. 0.9832
AUDUSD S. 0.7548 R. 0.7648
NZDUSD S. 0.7075 R. 0.7179
USDCAD S. 1.2785 R. 1.2883
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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.
Read the license agreement, select the check box I accept the agreement and click Next to proceed.
Indicate directory where you previously installed MetaTrader 4. To start the installation click Install.
When the installation process is finished, the Next button will be activated.
Click Finish to close the installation dialog box. Activate Launch MT terminal option if you want MT4 launched after you click Finish.
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.
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.
If the EA is activated successfully, a smiley will be seen in the top right corner of the chart.
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.
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.
Read the license agreement, select the check box Yes, I agree with all terms of this license agreement and click Next to proceed.
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.
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.