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This blog offers fundamental analysis, technical analysis and various currency trading information.

Interview with Stanislav Vaneev, CEO of Grand Capital

March 26, 2015

Following five months without interviews of the important people in the Forex industry, I finally present you with an interview with Stanislav Vaneev — the chief executive officer of Grand Capital Forex company. It is listed on since 2011, but they did not start to expand much into the English-speaking …

Neteller Acquires Skrill

March 25, 2015 (Last updated on March 26, 2015)

On March 23, Optimal Payments Plc (the operator of Neteller) has published the official proposal of acquisition of Skrill Group from CVC Funds (operator of Skrill) and other owners for €1.1 billion (about $1.2 billion at the current rate). On March 24, the same proposal appeared on Skrill’s …

EUR/USD Struggles to Maintain Gains

March 25, 2015

Today, EUR/USD attempted to resume its rally after halting it yesterday. The currency pair got support from the disappointing durable goods orders report yet it still has problems with maintaining the rally.

US durable goods orders dropped 1.4% in February contrary to the analysts’ predictions that promised …

EUR/USD Ends Rally After Positive US Data

March 24, 2015

EUR/USD was rising higher at the first half of the current trading session, extending its gains. Yet the rally has come to an end after the data showed that the US inflation bounced in February after the previous month’s drop. The currency pair maintained losses after the positive housing report.

CPI rose …

EUR/USD Continues Move Higher

March 23, 2015

EUR/USD extended its rally during the current trading session as the relatively dovish policy statement released from by Federal Reserve last week continues to affect the Forex market. Hopes for the resolution of the Greek debt crisis also contributed to the rally of the currency pair.

Existing home sales were at the seasonally adjusted annual …

What Can We Learn from USD/JPY Upward Channel?

March 22, 2015 (Last updated on March 24, 2015)

The US dollar demonstrated an impressive rally against the Japanese yen since August of 2014. The rally has stalled in December and the price has entered a sort of consolidation in a deformed triangle pattern followed by an ascending channel. The latter is currently presenting a valid trading opportunity for those who wish to bet against USD/JPY further …

Forex Brokers Update — March 21st, 2015

March 21, 2015

Some important updates to the listed broker have been applied this week:

RoboForex lowered spreads on all account types and added CFD instruments for trading.

Vector Securities removed Spanish version of their website.

FxNet is now regulated by BaFin and FCA (UK). No longer accepts AUD and CHF deposits, …

Weekly Forex Technical Analysis (Mar 23 — Mar 27)

March 21, 2015


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
0.9956 1.0217 1.0518 1.0780 1.1081 1.1342 1.1643

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0227 1.0538 1.0790 1.1100

Euro Jumps After FOMC Drops ‘Patience’ from Statement

March 18, 2015

The Federal Open Market Committee dropped the mention of patience in its statement as was expected by majority of market participants, yet EUR/USD jumped after the announcement that should have been supportive for the dollar. There can be several explanations for such performance. One of them is that the event has been priced …

Dollar Retreats Ahead of Fed Meeting

March 16, 2015

The US dollar was broadly weaker against other currencies, including the euro, today as Forex traders were cautious ahead of the Federal Reserve’s policy meeting that will start tomorrow. EUR/USD retreated from its daily highs, forming a double-top pattern on the 15-minute chart, but remains above …

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Position Size Calculator Is Now a Separate Window Indicator

February 20, 2015

Another major revision of the Position Size Calculator indicator for MetaTrader has been released today. The main feature of the current version is that the main display of the indicator is now moved to a separate chart window, while the lines (entry, SL, and TP) are still located in the main chart …

Margin Warnings When Calculating Position Size in MetaTrader

February 13, 2015

The Position Size Calculator indicator for MetaTrader has received a major update in its newest version. It can now warn traders if the planned trade will trigger a stop-out event or if there is not enough money to execute such a trade. The full list of changes includes and is applicable …

Track Portfolio Risk with Position Size Calculator

October 6, 2014

You can now track your whole portfolio risk with the Position Size Calculator indicator for MetaTrader. The indicator now calculates the potential loss of all the open positions and pending orders across the account and shows it to the trader.

Traders can control whether to count pending orders or not and whether to count …

Finally — Automated Way to Detect Channels

August 5, 2014 (Last updated on September 2, 2014)

According to the recent poll, this blog’s readers have shown a rather high level of interest for seeing a Channel Pattern Detector indicator for MetaTrader. The actual indicator is now available for download, testing and further improvement if you are knowledgeable in MQL and are interested in pattern recognition.

The indicator’s …

ChannelPattern Script Update — One-Sided Breakouts

June 5, 2014 (Last updated on July 5, 2014)

The new version of the ChannelPattern script can now draw Entry/TP levels as trendlines on a chosen side of the Border channel. By default, it will act as before — draw two channels (Entry and Take-Profit) around the given Border channel. If new the input parameter Sides is set to Upper or Lower

Improving Wide Range Bars Indicator with Alerts

April 18, 2014

The original WRB Hidden Gap indicator for MetaTrader 4 was developed by Akif Tokuz. It is based on Wide Range Bars + Hidden Gaps system developed by The Strategy Lab. Although they offer a lot of paid educational content, they have a free tutorial explaining the concept …

Testing Weekly Range Breakout Opportunities with EA

February 21, 2014

I am a fan of long-term trading. Or more exactly, of what is considered “long-term” in retail Forex market — when positions are held open for several days or more. I also prefer trading breakout set-ups more than anything else. Naturally, I would come to testing this rather obvious strategy: buy on the upper …

MetaTrader 4 Build 600 Is MetaTrader 5 in Disguise!

February 5, 2014

After a long period of open beta-testing, MetaQuotes has finally released its MetaTrader 4 Build 600 this Monday. It is a significant step to bringing MT4 closer to MT5 without adding all those restrictions and limitations that infuriated traders when MetaTrader version 5 had been released …

Brute-Forcing Heiken Ashi EA Ideas

December 27, 2013
I have never been a huge fan of Heiken Ashi and I still have not recorded any trades on my live account based on this charting technique. But, from what I had known about Heiken Ashi, it looked like an interesting system that could be used in price action type…

Is MetaQuotes Doing a Right Thing by Merging MQL4 and MQL5?

September 9, 2013

On July 24, MetaQuotes announced a set of major changes for the whole MT4 community. Among other things, they have promised a new IDE (integrated development environment) for MetaTrader 4 that would still compile .mq4 into .ex4, but will be able to work with all MetaTrader 5 …

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