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04 06 11:06
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Daily economic digest from Forex.ee

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The EUR/USD pair is following broad market trend at the first day of the trading week, keeping its positions above the level of 1.1700. Today the key determinant on the market remains downside correction of the US dollar, which offers notable support to the major. The main reason of US bulls’ weakness is the overbought US dollar, as investors have already managed to fully price in a June Fed rate hike. However, further gains of the pair look limited, as ongoing concerns over political situation in Italy are still weighing the shared currency. As for the data, nothing much is scheduled in the economic calendar for this Monday, so broad market sentiment will continue to form pair’s further trajectory during this trading session.  

 

The GBP/USD pair is extending its recovery, trading at a profit for the fourth consecutive session. Today the pair again refreshed its weekly highs, on the level of 1.3377, in wake of improved risk appetite across the market, which positively affects the higher-yielding pound lately. In addition, it seems that the UK bulls finally received positive impetus on Friday, following improved data from the British economy. On the other hand, the reaction of the US dollar to upbeat NFP numbers was not so positive, as US bulls look exhausted after massive rally, witnessed last month. Looking ahead, today all traders’ attention will be focused to the UK construction PMI due for release during the European trading session, while the US economic calendar will remain silent this Monday, offering only secondary data reports.

 

The AUD/USD pair is trading on a positive note today, having refreshed its 6-week highs on the level of 0.7624. One of the main catalysts for pair’s upside today remains improved risk appetite on the back of absence of disturbing news over the weekend. In addition, upbeat Australia’s retail sales data also provided bullish impetus to the pair during the Asian trading session, thereby accelerating its growth. On the data front, nothing much is left in the economic calendar, as the US will offer only secondary data reports this Monday, so investors will focus their attention on the RBA monetary policy meeting, which will take place during the next Asian session.

 

The USD/JPY pair is showing minor gains this Monday, testing its weekly highs in the region of 109.80. Today risk friendly environment remains the main driving factor across the market, forcing the safe-haven yen to retreat against its US counterpart. Moreover, the continuing divergence between the US and Japanese regulators also provides support to the pair, despite the fact that the BoJ reduced its bond buying program on Friday. Nevertheless, further gains of the pair look limited, as the reaction of US bulls to optimistic data from the US labor market was pretty sluggish, failing to offer any notable support to the greenback. In the day ahead, the US economic calendar won’t offer investors anything relevant, so broad market sentiment will remain as a key determinant for the pair at the start of this week.

 

Major events of the day:

UK Construction PMI – 11.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1564 R. 1.1766

USDJPY                 S. 108.31 R. 110.33

GBPUSD               S. 1.3213 R. 1.3431

USDCHF               S. 0.9806 R. 0.9950

AUDUSD              S. 0.7494 R. 0.7612

NZDUSD               S. 0.6930 R. 0.7050

USDCAD               S. 1.2886 R. 1.3038

 

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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.

Forex broker Forexee

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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