If you’re a forex trader you’ll know that MetaTrader 4 is the king of Forex trading platforms. Not only does it allow you to place and manage orders, undertake various technical analysis functions and auto trade, it also allows you to do plenty of not-so-well-known things. Let’s talk about a few.

First, the ruler tool. This is super handy when measuring this distance (in pips) between two points… ie stop loss and entry, etc. So how do you get this tool? Simple, click on the cross hair, or press Ctrl+F and click and drag between two points. You’ll find all sorts of handy info such as pip-distance, the number of bars in a range and the date. Not bad!

Secondly, if there are some indicators, scripts or EAs that you frequently use, why not make it easier to access them. Simply right-click on the item of your choosing and select ‘Add to favourites’. Now that was simple!

When it comes to becoming a better trader, it is super beneficial to go back over previous trades to see what you did right or wrong. So for a deeper look into your closed trades in MT4, pop on over to ‘Account History’ in the terminal. Just click on a closed position, drag it on to the chart in which you placed the trade, and presto, you’ll see the entry, target, exit mark data as well as the stop less, etc. This is great to see how you can improve on your market timing, stop losses and profit targets, as well as further refining your setups.

Use a customised template that you’ve created and are sick of always switching to it when you open a new chart? Well, here’s one for you. Set up your template to exactly how you like it, right click and choose ‘Template – Save Template’, and save it as ‘Default’. Now, every time you open a new chart it will automatically have your template as the MetaTrader 4 default.

I personally find it helpful to write notes on charts so that when I’m reviewing my trades I can go back to exactly why I took the trade, emotions, thoughts, things I notice about the market, etc. To do this, head up to the Insert menu and choose ‘Insert Text’ and you can enter whatever you want. And, you can use multiple text boxes.

There you go, I hope these few little not-so-well-known tips and tricks make your MT4 life just a little bit faster and easier.

The US CPI has been slowing down over the past few months. However, it’s likely that this trend will continue into December as well.

Here are market events to look out for this week:

Australia Consumer Price Index (11 January)

The October Consumer Price Index (CPI) in Australia fell below September’s record high of 7.3%.

Analysts expect November’s CPI reading to rebound higher to 7.5%.

US Consumer Price Index M/M (12 January)

The Consumer Price Index in the US rose 0.1% from November 2022, slowing from the 0.4% increase in October. This indicates that annual inflation in the US slowed for a fifth straight month to 7.1% in November 2022, its lowest point since December 2021.

Analysts expect that US CPI might continue to slow down and will be released at -0.1% in December 2022, which means that inflation is slowed more to 6.9%.

UK Gross Domestic Product M/M (13 January)

The economy in the UK grew 0.5% in October from September 2022, the most significant increase in nearly a year.

Analysts predict November’s GDP to be unchanged at 0.0%.

Prelim University of Michigan (UoM) Consumer Sentiment (13 January)

In December 2022, the University of Michigan revised its consumer sentiment index for the US upward to 59.7 in December 2022 from 59.1 in the previous month.

Analysts expect this month’s UoM Consumer sentiment index to be higher at 60.

U.S. equities scored their best trading day of the year throughout last Friday’s trading. The Dow Jones Industrial Average climbed 2.13% to close at 33630.61. The S&P 500 gained 2.28% to close at 3895.08. The tech-heavy Nasdaq composite jumped 2.56% to close at 10569.29. U.S. equities rose after the U.S. nonfarm payrolls and unemployment change data both indicated higher employment during the previous month.

The nonfarm payrolls came in at 223K, while the monthly unemployment change came in at 3.5%. Furthermore, the ISM PMI figure came in below market expectations at 49.6, indicating a slowdown in private-sector purchasing. Market participants assumed that the higher employment and falling private sector purchasing would prompt the Fed to throttle back on interest rate controls, thus equities rallied while treasury yields and the Greenback retreated.

The benchmark U.S. 10-year treasury yield was last seen trading at 3.56%, while the 2-year yield sits at 4.258%.

On the economic docket, Fed chairman Jerome Powell is due to speak during the American trading session on the 10^th. The U.S. will release core CPI and initial jobless claims figures on the 12^th, and the U.K. will release GDP and manufacturing figures on the 13^th.

Main Pairs Movement

The Dollar index, which tracks the U.S. Greenback against a basket of major foreign currencies, slumped 1.18% throughout Friday. Market participants sold the Greenback after the “Fed desired” U.S. economic data released throughout Friday’s American trading session. Retreating U.S. yields acted as a headwind for the falling Dollar.

EURUSD jumped 1.12% throughout Friday’s trading. The Dollar weakness across markets allowed Euro bulls to bid the Euro higher and allowed the pair to reverse a four-day loss.

GBPUSD soared 1.54% throughout Friday’s trading. While there were no major economic data releases from the U.K., the lower-than-expected U.S. PMI data sparked a selloff of the Dollar.

Gold climbed 1.82% throughout Friday’s trading. The Dollar denominated Gold soared after a broad-based selloff of the U.S. Greenback.

Technical Analysis

EURUSD (4-Hour Chart)

The EUR/USD pair advanced higher on Friday, regaining upside traction and recovered towards the 1.0600 mark after the release of the US NFP report. The pair is now trading at 1.0609, posting a 0.85% gain daily. EUR/USD stays in the positive territory amid weaker US dollars across the board, as the US job data weakened the US Dollar even though the labour market remains tight. The US Nonfarm Payrolls rise by 223,000 in December, which came in much higher than the market expectation of 200,000 and exerted bearish pressure on the greenback. The upbeat employment figures caused investors to reassess the Fed’s policy outlook as the CME Group FedWatch Tool’s probability of a 25 basis points Fed rate hike in February declined to 57% from 70% on Wednesday. In the Eurozone, the Eurozone Consumer Price Index (CPI) for December came at 9.2%, which was lower than expected but failed to drag the EUR/USD pair lower amid the renewed US dollar weakness.

For the technical aspect, the RSI indicator is 54 figures as of writing, suggesting the pair could extend its daily gains as the RSI is rising sharply. As for the Bollinger Bands, the price witnessed fresh buying and climbed above the moving average, therefore a continuation of the upside trend can be expected. In conclusion, we think the market will be bullish as the pair is testing the 1.0583 resistance. Euro bulls are now looking at the 1.0624 area which is the next resistance.

Resistance:  1.0583, 1.0624, 1.0710

Support: 1.0508, 1.0467

GBPUSD (4-Hour Chart)

GBP/USD recovers lost territory from Thursday’s losses, reclaims 1.12 on soft USD after US NFP report. US Nonfarm Payrolls rose by 223K, exceeding expectations, and pointing to a solid labour market. The unemployment rate fell to 3.5%, while Average Hourly Earnings fell to 4.6%, compared with expectations for 5%, suggesting that inflation on wages is easing. USD index dropped to around 104, which favours GBPUSD. The pair rose accordingly. At the time of writing, the pair is trading at 1.2071, posting a 1.5% gain daily.

For the technical aspect, the RSI indicator is 60 figures as of writing, rebounding from the oversold zone. The RSI indicator rose sharply, indicating the pair may continue on its upward traction. For the Bolling  Bands,  the price rose sharply through the average from the lower bound. A continuing upward trend could be expected. For the price action, the pair recover lost territory below a first support level and is now hovering around 1.21 at the time of writing, close to the first resistance level at 1.2110. In conclusion, we think GBPUSD is in bullish mode. Based on the technical analysis, there is a high possibility to break through the first resistance of 1.2110. On the upside, if the price advance above the resistance level at 1.2110 on 4H Chart, it may head to test the next resistance at 1.2233.

Resistance: 1.2110, 1.2233, 1.2335

Support: 1.1927, 1.1765

XAUUSD (4-Hour Chart)

The gold price soared on the solid US NFP data. In the US trading session on Friday, the US Bureau of Labor Statistics revealed that US Nonfarm Payrolls rose by 223K, exceeding expectations. The unemployment rate fell to 3.5%, while Average Hourly Earnings fell to 4.6%, compared with expectations for 5%, suggesting that inflation on wages is easing. Markets reacted to the US economic figures. The US dollar index dropped to around 104, while the US 10-year yield rose from 3.73% to 3.57%. The gold price soared directly from $1,835 to $1,860, refreshing the highest level from last mid-June. At the time of writing, the price is hovering around $1,870.

For the technical aspect, the RSI indicator is 70 figures as of writing, rising from 50. The RSI indicator rose sharply, indicating the pair may continue on its upward traction. For the Bolling  Bands,  the price goes up along with the upward trading average and is now trading around the upper bound. For the price action, the pair rises sharply and makes a higher high on its pattern, which is a standard pattern for the upward trend. In conclusion, we think the gold price is in a bullish mode based on the technical analysis, and there is a high possibility to continue on its upward trend. That said, the RSI indicator and Bolling  Bands both show signs of being overbought. Traders should be aware of the risk of a correction.

Resistance: 1874, 1884

Support: 1775, 1735, 1700

U.S. equities continued to fall throughout Thursday’s trading. Equities retreated due to the upside surprise from the ADP nonfarm employment change, which showed that employers added 235,000 jobs in December, and initial jobless claims, indicating 204,000 claims in December. The two red-hot job reports affirmed the Fed’s reservations on the contractual effectiveness of its interest rate hikes. The tight labour market report sparked a rally in treasury yields and the U.S. Greenback.

The Dow Jones Industrial Average dropped 1.02% to close at 32930.08. The S&P 500 lost 1.16% to close at 3808.1. The tech-heavy Nasdaq Composite slumped 1.47% to close at 10305.24. The U.S. 10-year treasury yield was last seen trading at 3.725%.

Equities were dragged down by the downside surprise of earnings results released by Walgreens (NAS: WBA) and Bed, Bath & Beyond (NAS: BBBY). Walgreens, which dropped more than 6% over yesterday’s trading, showed a $5.2 Billion opioid litigation settlement that dragged quarterly earnings. Bed, Bath and Beyond plummeted more than 29% after the company announced cash insufficiency and possible chapter 11 bankruptcy.

Main Pairs Movement

The Dollar Index, which tracks the U.S. Greenback against a basket of other major foreign currencies, rose more than 0.8% throughout yesterday’s trading. The ADP nonfarm payrolls and initial jobless claims, both coming in above market expectations, buoyed the Dollar higher as short-term U.S. interest rate expectations continue to price higher across markets.

EURUSD dropped 0.76% throughout yesterday’s trading. The Euro fared worse against the Dollar as market participants bid up the Greenback due to hotter-than-expected job reports. The construction PMI further indicated price levels remaining at elevated levels.

GBPUSD slumped 1.25% throughout yesterday’s trading. The British Pound weakened against the Dollar due to the broad-based Dollar’s strength. The British construction PMI is scheduled for today’s European trading session.

Gold lost 1.18% throughout yesterday’s trading. The Dollar denominated Gold lost ground as the U.S. Greenback surged across the board.

Technical Analysis

EURUSD (4-Hour Chart)

The EUR/USD pair shows an upside momentum faltered once again around 1.0630  and dropped to daily lows near 1.0529, breaking below the support at 1.0536, EUR/USD is 100 pips down from its Friday close, the spot saw its losses accelerate after the US ADP report showed the US private sector added 235K jobs during December, surpassing initial estimates, besides, weekly Jobless Claims rose less than expected, both shows the good health of the labour market in US. On the Europe side, the Construction PMI improved marginally to 41.7 in December, and the released November Producer Price Index, which rose at an annual pace of 27.1%, retreating from a revised 30.5% gain in October, In the near term, the pair is neutral-to-bearish and lack the conviction to surpass the recent resistance area near 1.0660 for the time being.

For the technical aspect, RSI indicator 14 figures as of writing, it’s suggestion strong buying signals and indicates an oversold or undervalued condition, estimated to be bullish and will rebound from the bottom. As for the Bollinger Bands, the price keeps hovering around the upper bound signalling the upside traction maintained in the near term, and the drop is expected. In the US, the key event is Friday’s release of the US Dec non-farm payrolls and the Eurozone inflation report. On the Europe side, Key events in the euro area this week are the Germany Retail Sales, EMU Flash Inflation Rate, and EMU Retail Sales,  which may bring motivation for the EURUSD buyers into the market.

Resistance:  1.0661, 1.0710

Support: 1.0310, 1.0536, 1.0461

GBPUSD (4-Hour Chart)

GBP/USD comes under heavy selling pressure on Thursday amid resurgent USD demand due to the FOMC  Meeting Minutes and PMI  yesterday and the dollar-positive ADP report released today, this pair continues losing ground through the early North American session and weakens further below the 1.2000 and aiming at the Support at 1.1927. According to the data published by Automatic Data Processing (ADP), the higher-than-expected demand from the US private sector employers provides a strong boost to the US Dollar, which, in turn, exerts downward pressure on the GBP/USD pair, the less hawkish outlook keeps the US Treasury bond yields depressed near a multi-week low, which could act as a headwind for the buck and lend some support to the GBP/USD pair.

For the technical aspect, RSI indicator 14 figures as of writing, it’s a suggestion for strong buying signals and indicates an oversold or undervalued condition, estimated to be bullish and will rebound from the bottom. For the Bolling  Bands,  it indicates the high volatility of the market. Both signals indicate the investors are interested in buying the market, however, the daily chart has just started gaining negative traction, the GBP/USD pair might then turn vulnerable and go for the 1.1927 mark. In the US, the ADP indicates momentum for the Dollar market, Friday’s release of the US Dec non-farm payrolls and Eurozone inflation report would provide fresh signals. In the UK, the weaker-than-expected UK services PMI added to a softer near-term tone, and more signals are required to define near-term direction.

Resistance: 1.2110, 1.2233, 1.2335

Support: 1.1927, 1.1765

XAUUSD (4-Hour Chart)

Gold price staged a downside correction after a four-day winning streak. Gold price fell more than 1% on Thursday, retreating from the highest level from mid-June, driven by a stronger US dollar and soaring US Treasury yields. The dollar regained strength after US data, before NFP. The ADP employment report showed that private payrolls increased by 235K over the 150K of expectation. Initial Jobless Claims dropped to 204K, the lowest since September. Markets reacted to the US economic figures. The dollar index advanced to 105, the highest level in three weeks while the US 10-year yield rose from 3.70% to 3.77%. The gold price fell directly below $1,850 to $1,831. At the time of writing, the price is hovering around $1,830.

For the technical aspect, RSI indicator 48 figures as of writing, slipping from the overbought zone, suggesting that it may continue on the correction. For the Bollinger Bands, the price dropped through the average as the price stage a strong downside correction in the near term. In conclusion, we think the market is still in bullish mode as the price still rally above the upward trend line. However, the gold price can keep falling modestly as technical analysis shows that the gold price is still under correction. On the downside, if the price drops below the trend line, it may change its current uptrend and head to test the next support at $1,775.

Resistance: 1865

Support: 1775, 1735, 1700

Economic Data

Dear Client,

Please note that the following instruments’ trading hours will be affected by the upcoming holidays.

Note: The dash sign (-) indicates normal trading hours.

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

Dear Client,

Please note that when constituent stocks of a market index generate dividends, VT Markets will make dividends and deductions for clients who hold the products after the close of the day before the ex-dividend date.

The dividends will not be paid/charged as an inclusion along with Swap. It will be executed separately in your account and the record will be annotated as “Div & Product Name & Net Volume”.

Please note the specific adjustments as follows:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

The FOMC minutes reaffirmed multiple things that Chairman Jerome Powell attempted to communicate to market participants during his previous speech in December of 2022. The minutes reiterated the central bank’s determination to bring the inflation level down to the targeted 2%; furthermore, citing previous experiences with pre-mature rate cuts, the minutes dismissed any notions of a rate cut in 2023, even though the Fed has slowed its pace in December. Most importantly, the minutes indicated that the Fed would not cease hiking rates until the central bank sees ample evidence of inflation on a steady and convincing downward trajectory towards 2%.

U.S. equity markets experienced a turbulent trading session as major economic data releases peppered yesterday’s American trading session. All three major equity indices closed higher by the bell. The Dow Jones Industrial Average gained 0.4% to close at 33269.77. The S&P 500 climbed 0.75% to close at 3852.97. The tech-heavy Nasdaq Composite climbed 0.69% to close at 10458.76.

The JOLTs job openings for November came in at 10.458M positions, despite being lower than last month’s print, this figure exceeded market expectations of 10M. The BLS report continues to show that the labour market remains tight, while the labour participation rate has continued to decrease. The job data release foreshadowed the hawkish FOMC minutes, which were released during the latter part of the American trading session.

Main Pairs Movement

The Dollar Index went through a slight fluctuation trading day as the market news was released with US JOLTs JOB Openings (Nov.) & FOMC Meeting Minutes. The DXY sets back around 0.4% after the previous day’s hiking by over 1.10%. The price bounces off lows and regians 104.0 ahead of FOMC’s meeting minutes.  The US Dollar was little changed with the news, although US short-term interest-rate futures dropped.

EURUSD struggled to retain 1.0600 after the FOMC meeting minutes release. EUR/USD has lost its bullish momentum and pierced the 1.0600 thresholds following hawkish FOMC Meeting Minutes and tepid US data weighing on the market’s optimism. Bulls, however, are not yet done.

Cable gains 0.64% throughout Tuesday’s trading. A little changed every week. The negative real GDP of the UK recession undermind demand for the Pound.

Gold continues its bull momentum, raised 0.8% throughout Tuesday’s trading, with yields dropping post-FOMC minutes.

Technical Analysis

EURUSD (4-Hour Chart)

The EUR/USD pair advanced higher on Wednesday, regaining some upside momentum and displayed back-and-forth moves around the 1.0600 mark amid an upbeat market sentiment ahead of FOMC minutes. The pair is now trading at 1.0611, posting a 0.61% gain daily. EUR/USD stays in the positive territory amid weaker US dollars across the board, as the sharp decline witnessed in government bond yields undermined the greenback and helped the EUR/USD pair to find strength. China’s planning to support the property market and the relaxation of its Covid zero-tolerance policy both provided support to the market mood. On the economic data front, the US ISM Manufacturing PMI declined modestly in December to 48.4, which came in below the market expectation of 48.5. The main spotlight would be the release of the FOMC December meeting minutes. In the Eurozone, the Eurozone Services PMI was confirmed at 49.8, indicating that price pressures remained elevated but retreated further from their recent peaks. The encouraging news also provided mild support to the EUR/USD pair.

For the technical aspect, RSI indicator 46 figures as of writing, suggesting the lack of directions for the pair as the RSI remains flat around the mid-line. As for the Bollinger Bands, the price failed to preserve its upside traction and retreated lower, therefore a downside movement can be expected. In conclusion, we think the market will be slightly bearish as the pair might head to test the 1.0580 support line. Technical indicators also remain within negative levels after correcting oversold conditions.

Resistance:  1.0661, 1.0710

Support: 1.0580, 1.0546, 1.0467

GBPUSD (4-Hour Chart)

GBP/USD climb back to 1.2088 after the decline on Tuesday, GBP/USD has regained its traction which erased the losses, however, the ISM will release the December Manufacturing PMI report. The headline PMI is forecast to decline to 48.5 from 49 in December. Market participants will also pay close attention to the Prices Paid component of the survey, which will offer fresh insight into input inflation in the manufacturing sector, the US Dollar could continue to weaken against its major rivals. On the other hand, an unexpected rebound above 50 in the headline PMI and an increase in the inflation component should have the opposite effect on the currency’s valuation and weigh on GBP/USD.

For the technical aspect, the RSI indicator is 55 figures as of writing, though it’s a mediocre indicator, however, the climbing RSI and Bollinger Bands show a bounce back, which suggests the bullish market and points to a renewed buyer’s interest. In the US, the lower-than-expected Manufacturing PMI could temporarily boost US Dollar, and investors are focusing on the release of the FOMC Meeting Minutes. In the UK, the falling appetite for corporate debt is raising red flags for economic prospects, and the expensive credit also resists the growth of the UK economy.

Resistance: 1.2095, 1.2215, 1.2337

Support: 1.1936, 1.1765

XAUUSD (4-Hour Chart)

Gold prices hit seven-month highs above $1,860 in the mid-European session as the US Treasury yields decline and the US dollar weakens on the risk-on mood. On the other hand, an upbeat market mood spurred by China’s news support gold prices. Chinese authorities planning to deliver additional support to property developers aimed to relax liquidity stress in some developers. Market participants now focus on the release of the Federal Open Market Committee (FOMC) December meeting minutes. The FOMC minutes will provide an explanation of December’s monetary policy decision and cues of future monetary policy action, which will directly influence the financial market.

For the technical aspect, RSI indicator 79 figures as of writing, suggesting strong momentum in the near term. On the other hand, the pair could stage some downside correction as the RSI is in the overbought zone. For the Bollinger Bands, the price keeps hovering around the upper bound signalling the upside traction maintained in the near term. In conclusion, we think the market is still in bullish mode as long as the price keeps rallying above the upward trend line. However, the gold price can stage a correction as technical analysis show that the gold price is at a short-term high. On the downside, if a price drops below the trend line, it may change its current uptrend and head to test the next support at $1,775.

Resistance: 1865

Support: 1775, 1735, 1700

Economic Data

The market started the year 2023 in a safety mode, creating demand for US Dollars and Gold as safe-haven instruments while waiting for this week’s US key economic data and events.

The dollar advances, the yen stabilizes and the oil price drops sharply. US shares market falls lead to Asia stocks facing muted opening. The yield on 10-Year Treasuries falls by most in more than a month. \

US’s four most representative benchmark indexes DJIA, S&P500, NASDAQ and SOX were all close lower. Shares in Asia faced a muted opening Wednesday after a decline in US stocks and the price of oil signalled unease about the dimming outlook for the global economy. Treasuries and the dollar rallied, and the yen stabilized after a Tuesday jump. Equity futures for Japan, Australia, and Hong Kong each rose less than 1%. The 10-year Treasury yield fell 14 basis points to 3.74%, the biggest decline in more than a month. An index of the dollar rallied by the most in two weeks.

The S&P 500 ended Tuesday 0.4% lower, weighed down by energy and tech stocks. Among all eleven sectors in S&P500, Comm SVC, Financials Index, Real Estate Index, Industrials Index, and Utilities Indes gain positive price returns.  As for the Energy Index field, dropped by 3.62% on a daily loss.

Main Pairs Movement

The Dollar index, which tracks the U.S. Greenback against a basket of other major foreign currencies, surged more than 1% throughout Tuesday’s trading. The first official U.S. trading day witnessed a broad-based sell-off in the equities market, while market participants bid up the U.S. currency. Despite the surge in Dollar value, the U.S. 10-year treasury yield remained subdued over yesterday’s trading. The benchmark yield currently sits at 3.759% and the U.S. 2-year treasury yield sits at 4.382%.

EURUSD traded 1.11% lower throughout Tuesday’s trading. Risk-averse sentiment across markets helped buoy the Dollar against the Euro.

Cable lost 0.64% throughout Tuesday’s trading. The British Pound fared worse against the Dollar as market participants flighted to safety.

The Dollar denominated Gold rose 0.87% throughout Tuesday’s trading. The precious metal gained ground as market participants started the new year with caution in mind.

Technical Analysis

EURUSD (4-Hour Chart)

The EUR/USD pair declined sharply on Tuesday, witnessing heavy bearish pressure and has managed to erase a small portion of its daily losses near the 1.0560 mark amid the resurgent US Dollar demand. The pair is now trading at 1.0543, posting a 1.14% loss daily. EUR/USD stays in the negative territory amid a stronger US Dollar across the board, as the greenback started the day on a firm footing and advanced above 140.70 with investors returning from the New Year holiday. On the economic data front, the S&P Global Manufacturing Index from the US came at 46.2 in December, which is unchanged from the flash reading. Meanwhile, the Federal Reserve will publish the minutes of the latest FOMC meeting on Wednesday, which will be crucial for the EUR/USD traders to watch. In the Eurozone, the Consumer Price Index (CPI) from Germany revealed that inflation declined to 8.6% every year in December and came in below the market expectation of 9%. The reading made it difficult for the Euro to gather recovery momentum today.

For the technical aspect, RSI indicator 28 figures as of writing, suggesting that the pair could experience a directional change in the near term as the RSI is in an oversold zone. As for the Bollinger Bands, the price witnessed heavy selling and dropped out of the lower band, therefore the downside traction should persist. In conclusion, we think the market will be bearish as long as the 1.0583 resistance line holds. On the downside, a break below the 1.0512 support could favour the bears.

Resistance:  1.0583, 1.0710

Support: 1.0512, 1.0467, 1.0315

GBPUSD (4-Hour Chart)

GBP/USD dropped to fresh multi-week lows near 1.1900 on Tuesday. Despite the absence of a fundamental factor, the US dollar outperforms other pairs as investors return from the new year holiday. GBP/USD, therefore, came under heavy bearish pressure. In the Meanwhile, political jitters in the UK seem to weigh on the Pound. The Telegraph reported over the weekend that British Prime Minister Rishi Sunak had shelved the childcare reform that was designed to help parents save money and get back to work. In addition, the first of five consecutive days of national rail strikes have begun on Tuesday.

For the technical aspect, the RSI indicator is 40 figures as of writing, suggesting the bearish traction will remain in the near-term technical outlook as the RSI stays below the mid-line. As for the Bollinger Bands, the price dropped below the average and now hovering around the lower bound, signalling some downside momentum. In conclusion, we think the market is still in bearish mode. If the price close negative below the current support at 1.1942 on the 4H chart. It may head to test the next support at 1.1765. For more price action, eye on tier 1 economic figures. In the US, the economic calendar remains busy with the release of the FOMC Meeting Minutes, as well as the ISM Manufacturing PMI Index for December. In the UK, Mortgage Approvals and Lending would be revealed.

Resistance: 1.2095, 1.2212, 1.2334

Support: 1.1942, 1.1765

XAUUSD (4-Hour Chart)

Gold prices were volatile on Tuesday after returning to normal trading activity. Earlier XAU/USD soared to $1,849.96, a multi-month high, and then started to decline as the dollar regather its strength in the mid-European trading session. At the time of writing, the gold price held around $1,830. That said, the pullback in gold price seems limited, as the US treasury yields fall modestly, which favours non-yielding gold. Gold traders now await the release of the FOMC Meeting Minutes, as well as the ISM Manufacturing PMI Index for December, which may provide cues for future monetary policy.

For the technical aspect, RSI indicator 71 figures as of writing, suggesting strong momentum in the near term. On the other hand, the pair could stage some downside correction as the RSI is in the overbought zone. For the Bollinger Bands, the price slightly pulls back after touching the upper bound signalling the lack of further momentum. In conclusion, we think the market is still in bullish mode as long as the price keeps rallying above the upward trend line. However, the gold price can stage correction as technical analysis shows price pressure. On the downside, if a price drops below the trend line, it may change its current uptrend and head to test the next support at $1,775.

Resistance: 1842, 1857

Support: 1775, 1735

Economic Data

Forex is a popular form of trading for users worldwide, providing diverse markets to speculate in. But to open positions and make trades in a way that suits your strategy and aims, you need the right platform.

Here at VT Markets, we work to ensure that our users have all the tools and platforms they need to develop their trading strategy and grow their experience in the market. This includes offering MetaTrader 4 for PC. Also known as MT4, this trading platform is available on PC and mobile. It is designed to provide a positive learning curve and a powerful selection of features for users of all experience levels and trading backgrounds. Whether you are learning to trade on the forex market or have been trading for several years, you’ll find that MT4 supports your needs.

Read on to learn more about how to download MT4 for PC and start utilising its tools and features today.

Download MT4 for PC in four simple steps

To begin with, you’ll need to get set up with a VT Markets account. We provide easy MT4 downloads onto your PC device. If you’ve already got a VT Markets account, log in and head down to step 2.

Step 1: Create your VT Markets account

• Head to the top of the page or the VT Markets homepage. Select the Open a Live Account option.

• Enter your nationality, first name and surname, telephone number, and email address in the form on the right-hand side of the page.

• On the next page, complete your personal details and submit your identification information.

• Head to the next form and add more information where required.

• On the next screen, complete your account configuration.

• Confirm your ID on the next page.

• On the final screen of the setup, add funding to your account so that you can begin trading.

Step 2: Log in to your VT Markets account and find MT4

After you have created your VT Markets account, the next step is to log in. You can do this using the button in the header menu, just to the right of the Create a Live Account button.

Next, return to the header menu and hover over the Trading option. This will bring up a menu with the tools and platforms we offer. Under the Platforms section, select MetaTrader 4 at the top of this list.

Select Start Trading Now and then download MetaTrader 4 for PC.

Step 3: Complete your download

Start by downloading the VT Markets MetaTrader 4 software. This will be saved to your PC as a .exe file. When prompted by a dialogue box, choose the Run option and the Yes option to run the .exe file.

When downloading MetaTrader 4 for PC, you will need to allow the program to make changes on the device. You’ll see a prompt asking you to grant this permission — confirm this to continue.

You’ll also need to read through the licence agreement. After you’ve checked this document, select I Agree to continue. You can save the platform to a custom install folder via the Settings button on the next window, or you can download the program to your default folder. 

Continue through the wizard until you hit the Finish button. Select this option to complete the download.

Step 4: Ensure you’re working with the latest version of MT4

If you’ve just downloaded MT4 for your PC, you will work with the latest version. If you downloaded the platform sometime earlier, you will need to check that you are working with the latest version.

This is because VT Markets has added many new features to the MetaTrader 4 platform in recent releases. This includes a Trading Central Tools package designed to help you get more from the platform and an economic calendar and Forex New Terminal to ensure traders remain updated and in tune with market developments. There are also account management facilities on the newest versions of MT4 that were not provided in earlier iterations.

Set your PC to automatically update and upgrade applications to avoid missing out on the latest features and functions provided by the VT Markets team. Reach out to the team to find out more about the latest releases and features or with any questions about the platform. We also provide useful resources to support you as you learn how to use MT4.

Trade with MetaTrader 4 at VT Markets

Give MetaTrader 4 a try today — download the platform from VT Markets and explore its tools and features. You can set up a demo account at first and then start trading for real with a live trading account. Want to learn more about the MT4 platform? Reach out to our team today.

FAQs

Can you use MetaTrader 4 on a PC?

Yes, you can download MetaTrader 4 on your PC. The MT4 platform was designed for PC devices and is not supported by the iOS operating system found on Macs and Apple products.

It is also possible to download MT4 on mobile devices that use the Android operating system.

Can I still download MetaTrader 4?

Yes, you can still download MetaTrader 4. Head to the MT4 page on the VT Markets website and download the platform like any other software. 

There has been some confusion among traders simply because of MetaTrader 5 — the update and successor to MT4. However, many traders find that they prefer the older version of the platform and have stuck with this. In 2022, traders can download and use both platforms on their PC. 

How do I log into MetaTrader 4 on PC?

To log into MetaTrader 4 for PC, you’ll first need to download it. You can do this right here on the VT Markets page after you have set up and logged into your account. Once the MetaTrader 4 platform is up and running, you can select the File menu option and log into your account from here.

Remember to keep your login credentials safe, and don’t copy or reuse the username and password you use with other applications. If you feel your account information has been compromised, change this information within the MetaTrader 4 platform without delay.

Can you trade forex on PC?

Yes, you’ll need a forex trading account and a platform like MetaTrader 4. This will give you access to the market, enabling you to assess the latest movements and make trades. It is highly recommended that you practise trading on an MT4 demo account before you begin trading for real. 

Please be aware that there is always a risk involved when you trade. Even more experienced and expert traders can lose money if the market does not move as expected.

What are MT4 indicators?

Indicators are important features on the MT4 platform, and you can use them as you try to predict future movements in the market. These MT4 indicators may be divided into common types, such as trend indicators, momentum indicators, volatility indicators and volume indicators. While indicators are slightly more advanced trading features, the learning curve of the MT4 platform is designed to help you grow your experience as you utilise these elements.

Remember that indicators do not provide guarantees. The market can still move in the other direction, even if an indicator has suggested otherwise. There is no way to eliminate risk, so always trade carefully and conservatively.

Can you trade on the margin in MT4?

It is possible to trade on the margin with MetaTrader 4. A forex margin refers to the amount of money you will need to put forward from your own capital reserves to open and control a trading position. The broker will put forward the remainder of the money, which makes the trading strategy similar to using leverage. Both tactics involve controlling a position worth more than you would otherwise have been able to afford.

While this increases the potential for profits, it also increases the potential risk. When you trade on the margin, you will effectively be borrowing capital from the broker. This capital will need to be paid back regardless of whether or not the position is successful, and the more you borrow, the more you will need to pay the broker. You may also experience a margin call if your available funds fall below a certain level, which means your positions may be closed automatically.

If you want to trade on the forex market, you need a platform you can trust — this is where you will find all the tools and features you need to analyse market movements and open and close positions on forex pairs. Many platforms are available, but VT Markets seeks to help our users narrow their choices and connect with some of the most intuitively designed and powerful tools available.

We offer MetaTrader 4 here on the VT Markets site. Once you have set up your VT Markets account, you’ll be able to download the MT4 platform and get started immediately. From here, you can begin to grow your experience and make trades either on the demo or the live version of the platform. We recommend using the demo MT4 account first to build your confidence and understanding before you start to make trades for real.

So what are the first steps? To begin, you’ll need to choose which version of MetaTrader 4 to download. This will depend upon what device you are using. Take a look at our guide below to find out more about how to download the platform.

Downloading MetaTrader 4 — A straightforward guide to help you get started

You can download and use MT4 across various devices and operating systems, providing traders with a more flexible and capable set of options. These include most desktop devices and operating systems and mobile and tablet devices.

Downloading the MT4 platform for desktop and laptop

Desktop and laptop devices tend to be more powerful than your smartphone or tablet, offering more storage capability and scoring higher on other key metrics. The extra capacity and power of the device enable you to get the most out of the software, as this was the operating environment it was originally designed for. Many users prefer to download MT4 on a PC or laptop device.

• Download MetaTrader 4 for Microsoft Windows — Most laptop and desktop devices still use the Microsoft Windows operating system, and MT4 is designed for use on this OS.

• Download MetaTrader 4 for Apple Mac OS — Many users prefer Apple’s Mac OS, and all Macs and computers developed by Apple will run this OS. You can download MT4 to your Mac if required.

• Download MetaTrader 4 for Linux — Linux is not as widely used as Windows and Mac OS. Still, developers have used the open-source system to create many operating systems, many of which have become popular. The Linux OS does support the MetaTrader 4 platform.

Downloading the MT4 platform for smartphones and tablets

While MT4 was initially developed with the power and function of desktop devices in mind, it is now available in smartphone and tablet versions. These versions help traders enjoy a far more convenient experience, with market data and trading tools right in the palm of their hand, even when they are out and about.

• Download MetaTrader 4 for Apple iOS Devices — Like with the Mac OS, many users are experts in using Apple products and prefer to utilise Apple OS versions of software and apps. To support this, MT4 is available for download on Apple’s iPhone and iPad products. While the tablet version provides more detailed views, traders can still utilise all the required features on the mobile version. 

• Download MetaTrader 4 for Android Devices — Android devices are becoming increasingly popular among smartphone and mobile users, and various Android operating systems power various products in the market. If you have one of these devices, you’ll be able to have MT4 downloaded on your Android smartphone or tablet.

Your guide to a successful MetaTrader 4 download

It’s easy to download the MT4 platform you need when you use VT Markets. With a handy wizard feature, downloading and setup is largely automated. Follow these handy steps to complete your installation.

• Step One — Create your VT Markets account here on the website. Add your personal information, confirm your identification, and then add funds to your account.

• Step Two — Log into your VT Markets account and head to the top banner menu on any page on the VT Markets site. Select MetaTrader 4 in the drop-down menu and open this page. From here, select the link to begin to download for the operating system and device you are using.

• Step Three — Open the .exe file and follow the wizard to complete the laptop and desktop devices setup. Move through the different screens of the wizard, select a download file folder and configure your options. The platform will be saved in your default download file if you don’t do this. Select Finish once you reach the end of the wizard. If you are using a mobile or tablet device, it will be saved to your app folder, and the installation will take place automatically.

• Step Four — Log into the MT4 platform and use the features. You can grow your experience over time, utilising features such as MT4 indicators to execute more advanced trading and predictive functions.

Understanding the different MT4 trading accounts

You will want to take some time to develop your experience and gain confidence using the platform. While there are never any guarantees with forex trading — and even more experienced traders can find that their positions are not always successful — learning how to trade forex carefully will help you make future strategic decisions. With this in mind, we offer two versions of the MT4 platform for download. Learn more about these below.

Downloading and using the demo version of MT4

The demo version of MT4 is the same as the full version. You’ll still be able to take advantage of all of the different features and tools built into the platform, and you’ll have the opportunity to grow your skills and experience in a meaningful way. The only major difference is that there is no real money changing hands. As this is just a demo account, you won’t be executing trades for real. Of course, this means there’s no potential for profit, but there’s no risk either.

We highly recommend you use the demo account for a while when you first download MetaTrader 4. Even if you already have some experience with trading forex, you’ll need time to learn how to use MT4 and to grow acquainted with the specific features of the platform. The risk-free environment of the demo account is perfect for achieving this. 

Downloading and using the live version of MT4

When you download the live version of MetaTrader 4, you gain access to all of the platform’s features, from indicators and other predictive tools to those used in active trading. In this sense, it’s almost the same as the demo version, only this version of MT4 supports live trades.

This means you can make money when you open and close positions on the live version of the platform, but there’s also the potential to lose money. Bear this risk in mind, and trade conservatively. If you decide to maximise your exposure in the market with margin trading or leverage trading on forex pairs, you will increase the risk level. 

The margin in FX refers to the amount of money you will need to put forward to control a position. Trading on the margin means you are essentially borrowing capital from the broker, which will need to be paid back. Leverage works similarly, maximising the stake you control and involves borrowing capital directly from the broker.

Only adopt these forms of trading if you are confident with using the MetaTrader 4 version you downloaded and after you have spent time learning forex and practising on the demo version of the platform.

Download MT4 and start growing your trading experience

We want to ensure that our users have access to all the tools and platforms they need to develop their experience as they trade forex. This is why we provide a roster of industry-leading software pieces designed to help traders open and close positions according to their unique strategies. 

There are always risks involved with this kind of trading, which is why it’s a good idea to practise using the features of MT4 after you download it. To do this, simply use the demo account, and enjoy all the features in a risk-free environment. When you feel ready, you can graduate to the live trading account and open positions for real. Want to learn more about our platform? Reach out to our team today.