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22 05 10:05
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Daily economic digest from Forex.ee

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The EUR/USD pair follows broad market trend, having stalled its downside trend, however, remaining within striking distance of its half-year lows, marked on the level of 1.1717 on Monday. Today slight correction of the US dollar after its bullish rally against major competitors remains the main theme across the market, allowing major currencies to recover some ground. However, further growth of the pair looks limited, as the formation of a populist coalition in Italy increases concerns, especially in regards to the fiscal policy of the new government. Looking ahead, today nothing much is scheduled in both economic calendars, so investors will remain in anticipation of next important events – the FOMC minutes due for tomorrow and the ECB minutes, which will be released on Thursday.

 

The GBP/USD pair consolidates its positions after another retreat, oscillating within 1.3415-35 trading range. The pair remains under pressure of several bearish factors without any chances for recovery. Ongoing Brexit talks, which are not showing any progress, remain one of the key factors, limiting pair’s recovery. UK Prime Minister T. May is having a difficult time making a decision on Brexit, as on the one hand she is being pressured by EU leaders in Brussels, and on the other, by members of her own party, who adhere to “hard Brexit” scenario. In addition, broad demand for the US dollar also negatively affects the pair, as investors continue to price in a Fed rate hike next month. Now all markets’ attention shifts towards UK inflation hearings, which will be able to provide investors with fresh trading opportunities during European trades, while any headlines regarding Brexit will also have significant impact on the pair.

 

The USD/JPY pair stepped lower from its 4-month highs, marked on the level of 111.39 on Monday, having returned towards the level of 111.00. Recent upside trend of the pair is mostly attributed to the ongoing rally of the US dollar against its major rivals, triggered by expectations that the Fed will increase its interest rate by 25 bps next month. In addition, increased demand for risky assets is another bearish factor for the safe-haven yen. Recall, on Sunday Treasury Secretary S. Mnuchin said that the US will delay tariffs on Chinese imports, while sides are discussing details of a trade deal, which sparked notable spike of risk-on sentiments. However, it seems that US bulls took a breather on Monday, allowing the pair to retreat from its recent highs. Today the pair will continue to follow broad market sentiment, as the US economic calendar won’t offer anything interesting to investors on Tuesday.

 

The USD/CAD pair remains pressured despite broad demand for the greenback, having refreshed its intraday lows on level of 1.2764. It seems that optimist around negotiations on NAFTA continues to support the Canadian dollar. According to the latest news headlines, sides are interested in reaching a good deal on NAFTA. Moreover, ongoing growth of oil prices, which are currently trading in the region of its multi-year highs, also provides some support to the commodity-linked loonie. In the day ahead, the pair will continue to trace widespread market trend amid lack of any important releases, scheduled in the economic calendar for Tuesday.

 

Major events of the day:

UK Inflation Report Hearings – 12.00 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1688 R. 1.1848

USDJPY                 S. 110.42 R. 111.72

GBPUSD               S. 1.3342 R. 1.3528

USDCHF               S. 0.9948 R. 1.0014

AUDUSD              S. 0.7473 R. 0.7643

NZDUSD               S. 0.6858 R. 0.6994

USDCAD               S. 1.2698 R. 1.2942

 

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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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