The EUR/USD pair opened this week with a bullish gap of 35 pips and returned above the level of 1.1700. Today’s upside trend of the pair can be mainly explained by increased buying interest around the common currency, as the Five Star Movement and League failed to form a ruling coalition in Italy. Increased demand for the euro triggered retreat of the US dollar across the market. However, further gains of the pair look limited, as the greenback benefits from the easing tensions between the US and N. Korea. According to the latest tweets of the US President, the US team has arrived in North Korea to make arrangements for the Summit, thereby reviving hopes that the meeting between leaders will take place in June. On the data front, nothing much is scheduled in the data calendar for this Monday, so broad market trend will continue to determine pair’s further direction during this trading session.
The GBP/USD pair trades with a mild bullish bias this Monday, having bounced off the region of its 6-month lows, located near the level of 1.3300. Recent upside trend of the pair is mainly attributed to the subdued dynamics of the greenback, as US bulls seem to have taken another breather, allowing major currencies to correct higher against its American counterpart. However, further growth of the pair looks unlikely, as increased divergence between the Fed and BoE after streak of negative data from the UK economy continues to put pressure on the pound. Today the pair will experience pretty calm session, as both markets will remain closed due to national holidays, so widespread sentiment will remain the key determinant for the pair during this session.
The USD/JPY pair remains pressured at the start of the week, having refreshed it intraday lows in the vicinity of 109.40. One of the main drivers for the pair today is easing geopolitical tensions between the US and N. Korea in response to news headlines, saying that President Trump admits that the Summit with the leader of N. Korea is still possible. Recall, last Thursday Mr. Trump sent a letter to Kim Jong Un, cancelling the June meeting between the nations. Moreover, slight retreat of the US dollar against its major competitors also negatively affects the pair in the first working day of the week. Today we have absolutely empty economic data calendar, so broad market trend will remain as an exclusive driver for the pair on Monday.
The AUD/USD pair follows broad market trend this Monday, however, showing minor gains and keeping its positions in the region of 0.7570. Today downside correction of the US dollar remains the main underlying theme across the market, giving the major currencies another chance to recover the ground and Aussie is no exception. On the other hand, easing concerns over the US-N. Korean drama is limiting pair’s further gains. According to the latest D.Trumpt’s tweets, there is still a chance that the Summit between leaders will take place in June. Looking ahead, today the US data calendar won’t offer investors anything interesting, as the US market will remain closed in observance of Memorial Day, leaving the pair at the mercy of widespread market sentiment.
Major events of the day:
UK – Spring Bank Holiday
US – Memorial Day
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1587 R. 1.1765
USDJPY S. 108.81 R. 110.03
GBPUSD S. 1.3231 R. 1.3423
USDCHF S. 0.9870 R. 0.9952
AUDUSD S. 0.7511 R. 0.7609
NZDUSD S. 0.6886 R. 0.6954
USDCAD S. 1.2823 R. 1.3067
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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.
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.