The EUR/USD pair is trading in the north direction in the middle of this week, getting closer to the level of 1.1700. Today the main driver across the FX-space remains ongoing downside correction of the US currency after its notable gains, witnessed last month. Moreover, it seems that investors positively reacted on news that EU diplomats are considering a start of negotiations with big car producers on lowering tariffs on vehicles to avoid a full-blown trade war. In the day ahead, we expect a quiet trading session, as the economic calendar won’t offer us anything important, while the US market will remain closed due to Independency Day celebration.
The GBP/USD pair follows broad market trend and extends its recovery, having stepped over the level of 1.3200. It seems that speculations about the uncertainty surrounding Brexit have faded away somewhat, allowing the pair to recover some pips after revisiting its 7-month lows in the region of 1.3050 last week. Moreover, ongoing weakness of the US dollar remains the main driving factor across the board so far this week, which also offers support to the pair this Wednesday. As for the data, today investors will focus their attention on the UK services PMI, which is the only important data release for today, so broad market trend will remain the key determinant for the pair during NY trades.
The AUD/USD pair extends its correction from its 1.5-year lows, marked on the level of 0.7311 earlier this week, as several factors are offering support to the pair. First, today persisting weakness of the US dollar remains the underlying theme across the market, allowing the pair to regain its positions above the level of 0.7400. Moreover, in Asia the pair received additional support from higher-than-expected Australia’s retail sales figures and Chinese service PMI. However, further upside of the pair looks limited as we are heading towards the FOMC minutes, NFP report, and the implementation of Chinese tariffs on US agricultural products that forces markets to stay cautious, thus putting some pressure on the higher-yielding Aussie. Looking ahead, today the economic calendar won’t offer us anything relevant, as the US market remains closed in observance of national holiday, leaving the pair at the mercy of broad market trend this Wednesday.
The USD/JPY pair lost its positive tone after 5 consecutive session at a profit and refreshed its intraday lows in the region of 110.30. The main reason of pair’s recent decline can be called ongoing sell-off of the US dollar, which is dominating the market so far this week. Moreover, widespread cautiousness ahead of much-awaited NFP data also offers some support to the safe-haven yen in the middle of the week. But today nothing much is scheduled in the data calendar, as the US celebrates Independence Day, so widespread market sentiment will help the pair to form its near-term trajectory this Wednesday.
Major events of the day:
UK Service PMI – 11.30 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1598 R. 1.1704
USDJPY S. 110.11 R. 111.37
GBPUSD S. 1.3080 R. 1.3264
USDCHF S. 0.9891 R. 0.9969
AUDUSD S. 0.7279 R. 0.7459
NZDUSD S. 0.6662 R. 0.6806
USDCAD S. 1.3073 R. 1.3243
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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.