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13 07 11:07
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Daily economic digest from Forex.ee

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The EUR/USD pair is trading under bearish pressure at the end of this week, having refreshed its 8-day lows on the level of 1.1627. Persisting demand for the US dollar, underpinned by yesterday’s hawkish comments of Fed Chair J. Powell, who positively valued state of the US economy, remains one of the key drivers across the market. Moreover, on Thursday the ECB released minutes from its last meeting, where the regulator once again showed cautious stance, pointing out that inflation growth rate is still low and timing of the QE program is conditional on incoming data. However, the Bank didn’t offer any fresh details regarding further monetary policy, so market’s reaction on the protocols was limited. As for the data, today both economies will offer us only secondary data reports, so the pair will continue to follow broad market trend.

 

The GBP/USD pair remains the biggest loser of this session, having refreshed its 7-day lows on the level of 1.3160. Recent weakness of the pair can be mainly explained by persisting concerns over Brexit. Earlier this week, several key Brexit ministers resigned from their posts in protest against the proposal of Prime Minister Theresa May, which was intended to satisfy both parties involved in the Brexit negotiations. In addition, the pound negatively reacted on President D. Trump’s comments, who said that softer Brexit scenario would have negative impact on trade relationships between the US and UK. On the other hand, slightly increased buying interest for risky assets is limiting pair’s further retreat. Looking ahead, today both economic calendars will offer us only secondary data reports, so widespread sentiment will be the only driver for the pair on Friday.

 

The USD/JPY pair stalled its upside rally at the end of this week and stepped back from its 6-month highs, marked on the level of 112.77 earlier this session. The correlation of the yen with a pack of Asian currencies and especially with the Chinese yuan is the main driver for the pair lately. It seems that the lack of fresh developments regarding the US-China trade war allowed Asian currencies to recover part of their losses. In addition, positive Chinese trade balance numbers, especially in view of recent events, also offered some respite to the pair today. On the other hand, persisting demand for the US dollar and swing in risk sentiment are limiting pair’s further retreat. On the data front, nothing important is scheduled in the data calendar for today, so broad market trend will continue to determine pair’s further direction.

 

The AUD/USD pair is trading with minor gains at the end of this week, keeping its positions near the level of 0.7400. It seems that the pair is mostly ignoring broad demand for the US dollar this Friday on the back of recovery of risk appetite. Today a lull in the conflict between the US and China offers some support to higher-yielding assets, such as the Aussie. Moreover, investors payed extra attention to Chinese trade balance figures, which came above market expectations, thus offering additional support to the pair. In the day ahead, the US economic calendar will remain silent, so the pair will continue to follow broad market trend for any direction.

 

Major events of the day:

None

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1624 R. 1.1720

USDJPY                 S. 111.65 R. 113.07

GBPUSD               S. 1.3145 R. 1.3273

USDCHF               S. 0.9909 R. 1.0085

AUDUSD              S. 0.7336 R. 0.7456

NZDUSD               S. 0.6732 R. 0.6810

USDCAD               S. 1.3106 R. 1.3244

 

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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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