The EUR/USD pair remains positive this Thursday, having rallied for almost 50 pips and spiked the level of 1.1700 in early Europe. The latest gains of the pair can be mainly explained by news reports, citing that ECB members see a rate hike at the end of 2019 as too late. Moreover, ongoing retreat of the US dollar against its major rivals, backed by the looming US-China tariffs deadline, also offers some support to the pair this week. Looking ahead, today the EU data calendar will remain silent, so investors will pay attention to US releases and FOMC minutes, which will be able to spark some volatility during the NA session.
The GBP/USD pair trades in the north direction for the third consecutive session, having refreshed its weekly highs in the region of 1.3250. It seems that the pound is still trying to recover its positions after testing 7-month lows in the region of 1.3050 last week. Moreover, yesterday’s positive UK service PMI and inability of US bulls to resist pressure from pound’s side due to closed US markets also offered some support to the pair. However, the upside of the pair also looks limited, as the uncertainty over Brexit and broad risk aversion are putting some pressure on the pound. Today we have pretty busy session ahead, as the economic calendar will bring us the speech of BoE Governor M. Carney, US employment data and ISM Non-Manufacturing PMI, and the FOMC meeting minutes will hog the limelight in late NA session.
The USD/JPY pair stalled its retreat and performed a U-turn in early Europe, gaining more than 30 pips and entering the area of 110.60, despite persisting sell-off of the greenback. The recent growth of the pair can be mainly explained by dovish comments of BoJ’s Member of the Policy Board Ms. Takako Masai, who again reiterated that inflation target level of 2% is still far away. However, further gains of the pair look restricted, as markets are preparing for the US to implement new tariffs on Chinese imports. Moreover, Beijing stated that it does not want to unleash a war, but it would not stand aside in case of aggression, so markets are also expecting retaliation measures from China. On the data front, today we have a busy session ahead, as the US has prepared for us the ADP employment data, ISM non-manufacturing PMI, and FOMC meeting minutes, which will be able to bring additional trading opportunities during the NA session.
The AUD/USD pair is struggling to find a clear direction, having stuck between bulls and bears in the region of 0.7365-90. Persisting weakness of the US dollar remains the underlying theme across the market so far this week, thus offering support to the pair. On the other hand, reemerged risk-off sentiments amid upcoming US tariffs on Chinese imports and NFP report are limiting any gains of the higher-yielding Aussie. Meanwhile, today investors will focus their attention on a slew of US economic releases, while the key risky event for today will be the release of the FOMC meeting minutes, which is scheduled for the NA afternoon.
Major events of the day:
BoE Governor M. Carney’s Speech – 13.00 (GMT +3)
US ADP Nonfarm Employment Change – 15.15 (GMT +3)
US ISM Non-Manufacturing PMI – 17.00 (GMT +3)
US Crude Oil Inventories – 18.00 (GMT +3)
FOMC Meeting Minutes – 21.00 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.1603 R. 1.1709
USDJPY S. 110.13 R. 110.81
GBPUSD S. 1.3137 R. 1.3297
USDCHF S. 0.9888 R. 0.9960
AUDUSD S. 0.7342 R. 0.7444
NZDUSD S. 0.6727 R. 0.6803
USDCAD S. 1.3085 R. 1.3195
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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.
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.