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25 06 11:06
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Daily economic digest from Forex.ee

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The EUR/USD pair corrects lower after two consecutive sessions at a profit, having refreshed its intraday lows on the level of 1.1629. However, further downside dynamics of the pair looks limited amid weaker US dollar and renewed fears of a global trade war. According to the latest headlines, the White House is considering to block Chinese companies from investing in US technologies. If the rumors are confirmed, it may provoke China on retaliatory measures, thus causing a full-blown trade war between two world largest economies. On the other hand, the divergence between the US and EU regulators continues pressuring the common currency, thus limiting any sharp growth of the pair. In the day ahead, the US will publish data from the housing market, so broad market trend will be the key determinant for the pair during this trading session.

 

The GBP/USD pair came out of its consolidation phase to the downside, having refreshed its intraday lows on the level of 1.3223 in early Europe. The main reason of pair’s retreat remains broad risk aversion, underpinned by fears of a global trade war, as the US is going to limit Chinese investments in the US technologies. However, markets expect that the retreat of the pair will be short-lived and it will regain its positive mood, as markets continue to digest surprisingly bullish outcome of the BoE meeting, where 3 out of 9 MPC members voted for a rate hike. In addition, subdued dynamics of the US dollar is another factor, which is limiting pair’s retreat. On the data front, today investors will see only the US new home sales report, so broad market trend will remain as a key driver for the pair on Monday.

 

The USD/JPY pair remains under bearish pressure at the start of this week, having tested its 2-week lows on the level of 109.38, on the back of improved demand for safety. According to the latest news reports, US President D. Trump is planning to block Chinese companies from investing in US technology firms. This news has heated up fears of a trade war between two world largest economies, thereby increasing demand for the safe-haven yen. However, further retreat of the pair looks limited, as the divergence between Japanese and US regulators offers support to the pair lately. In the day ahead, the US data calendar will offer investors a slew of data from housing market, while risk-off sentiment will continue to determine pair’s further direction.

 

The AUD/USD pair has lost part of its Friday’s gains, keeping its positions near the lower end of its intraday range. The main reason of pair’s downside correction remains reemerged risk-off sentiment, triggered by escalation of a trade conflict between the US and China. However, further downside trend of the pair looks limited on the back of subdued dynamics of the US dollar. On the other hand, the economic calendar will remain data light in the week ahead, so the divergence between the Fed and RBA will help the pair to form its further trajectory. But for today the US has prepared data from the housing market, which will be released during the NA session.

 

Major events of the day:

German Ifo Business Climate – 11.00 (GMT +3)

US New Home Sales – 17.00 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1569 R. 1.1721

USDJPY                 S. 109.58 R. 110.42

GBPUSD               S. 1.3196 R. 1.3350

USDCHF               S. 0.9835 R. 0.9953

AUDUSD              S. 0.7346 R. 0.7492

NZDUSD               S. 0.6831 R. 0.6961

USDCAD               S. 1.3178 R. 1.3424

 

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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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