The EUR/USD pair keeps its positive tone today, having spiked the level of 1.1700. The ongoing upside trend of the pair can be mainly explained by weakness of the US dollar, triggered by recent talks that the White House is considering to limit Chinese investment in US technologies. In addition, yesterday US Treasury Secretary Steven Mnuchin commented on the situation, indicating that the forthcoming restrictions would be applied not only to China, but also to all countries that are trying to steal US technology. These comments have intensified fears of a global trade war, thereby sending the US currency lower against its major rivals. However, further gains of the pair looks fragile as investors’ attention shifts towards the EU Summit, where the migration issue is expected to take center stage. But today the EU economic calendar will remain silent, while the US will publish only CB consumer confidence data, so broad market trend will remain the key driver for the pair during this trading session.
The GBP/USD pair failed to extend its bullish trend after three consecutive sessions at a profit, having faced resistance in the vicinity of 1.33. It seems that speculations about recent hawkish BoE meeting have started to subside and broad market trend took control over the pair. Today improved demand for safety remains one of the key drivers across the market, putting pressure on the risky pound. On the other hand, ongoing retreat of the US currency offers some support to the pair, thus limiting its further retreat. As for economic events, today investors will pay attention to speeches by the BoE MPC members, which will be able to bring fresh insight on further actions of the regulator, while the US will publish the CB consumer confidence data during the NA session, which will also help the pair to form its near-term trajectory.
The USD/JPY pair remains pressured this Tuesday, having again refreshed its 2-week lows on the level of 109.37, as risk-off sentiment is still gripping the market. Recall, on the weekend US President D. Trump announced his plans to limit Chinese investments in US technology companies. Moreover, further comments by US officials intensified fears of a trade war and now investors are awaiting for official announcements from the US and following retaliatory measures from Chinese side. In addition, ongoing retreat of the US dollar is another driving factor, which is pushing the pair into negative territory. In the day ahead, we will have another quiet session, as the US has prepared only consumer confidence data, so broad market trend will continue determining pair’s further trajectory.
The AUD/USD pair follows broad market trend so far this week, staying today in the region of 0.7400. It seems that bulls could not withstand the pressure due to a decrease in demand for risky assets, which was caused by US’ trade battles with the rest of the world, thereby leaving the pair at the mercy of bears. On the other hand, ongoing weakness of the US dollar is another driving factor that dominates the market this Tuesday, thus limiting pair’s further retreat. On the data front, nothing much is scheduled in the data calendar for today, so the pair will continue to follow broad market trend during this trading session for any direction.
Major events of the day:
US CB Consumer Confidence – 17.00 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1595 R. 1.1769
USDJPY S. 109.02 R. 110.46
GBPUSD S. 1.3165 R. 1.3393
USDCHF S. 0.9835 R. 0.9911
AUDUSD S. 0.7370 R. 0.7466
NZDUSD S. 0.6864 R. 0.6938
USDCAD S. 1.3144 R. 1.3406
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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.