The EUR/USD pair struggles to find a clear direction in the second half of this week, trading around the level of 1.1550. It seems that the pair has stalled its downside rally after two consecutive days at a loss, which was driven mainly by renewed buying interest around the US dollar. However, any further sharp movements of the pair are unlikely, as markets remain cautious ahead of the EU Summit, where investors are expecting to meet fresh details on the key issues, such as Brexit and migration in the Eurozone. Besides the EU Summit, investors will also pay attention to the US data, which will be able to bring some trading opportunities during the NA session, while broad risk aversion, backed by fears of a global trade war, will continue influencing the pair.
The GBP/USD pair shows losses for the third consecutive session, having refreshed its 7-month lows on the level of 1.3067. It seems that the pound continues to suffer from dovish comments of MPC members, and especially from comments of John Haskel, who doesn’t deny the possibility of lowering the rate if the UK economy continues to show weak results. Moreover, yesterday the pound received additional bearish impetus, as Financial Stability Report indicated risks related to Brexit, while Mr. Carney during his speech highlighted additional risks to the UK economy from rising global trade tensions. Today investors will focus their attention on another speech by the MPC member A. Haldane, while the US will publish the GDP report, which both are scheduled for the NA session.
The NZD/USD pair remains ultra-heavy lately, having refreshed its 2-year lows on the level of 0.6769 on Thursday. The major remains under pressure of multiple bearish factors, which are pushing the pair into the negative territory. First, today the RBNZ left its interest rate unchanged, however, pointing out that the Bank has no clear vision on when and in what direction the rate is going to move. This outcome of the meeting has again brought the divergence between the Fed and RBNZ to the fore, thus accelerating its downside trend of the pair. Moreover, broad cautiousness, caused by the US-China conflict, remains one of the main drivers across the market, forcing the higher-yielding Kiwi to lose points. On the data front, the US has prepared GDP numbers, which will be published during the NA session.
The USD/JPY pair regained its bullish tone in Asia and reached the level of 110.30 by the European opening. Today the pair remains positive that can be mainly explained by stronger positions of the US dollar and the divergence between the US and Japan’s regulators. However, further upside of the pair looks limited on the back of ongoing increased tension between the US and China. In addition, recent comments by National Economic Council Director Larry Kudlow, who said the US had not softened its stance on China, have also improved demand for safety, which in turn is supporting the yen. Today the US will publish the GDP data, while risk-off sentiment and US dollar price dynamics will remain the main drivers for the pair this Thursday.
Major events of the day:
EU Leaders Summit – 13.00 (GMT +3)
US GDP – 15.30 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1457 R. 1.1723
USDJPY S. 109.35 R. 110.95
GBPUSD S. 1.3017 R. 1.3291
USDCHF S. 0.9860 R. 1.0032
AUDUSD S. 0.7277 R. 0.7439
NZDUSD S. 0.6723 R. 0.6905
USDCAD S. 1.3223 R. 1.3445
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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.