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Forex Blog

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

Forex Brokers Update — August 2nd, 2015

August 2, 2015

No new companies have been added to our website during the week, but some of the listed brokers have been removed while others have been updated:

FXFINPRO Capital added Arabic and Chinese versions to its website.

Admiral Markets reduced commission for ECN trading from $3.50 to $3.00 per …

Weekly Forex Technical Analysis (Aug 3 — Aug 7)

August 1, 2015

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0638 1.0766 1.0874 1.1002 1.1111 1.1238 1.1347

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0761 1.0865 1.0997 1.1101

EUR/USD Bounces After Three-Day Decline

July 31, 2015

EUR/USD jumped more than 1% today, almost erasing the previous three-day decline. Some attributed the bounce to a couple of negative economic reports from the United States (particularly the weak employment cost index — event B on the chart). Others pointed at data from the eurozone that showed acceleration of core …

EUR/USD Retains Bearish Momentum

July 30, 2015

The dollar was broadly higher against other currencies, including the euro, following yesterday’s release of the Federal Reserve policy statement. It looks like traders considered the Fed’s stance to be hawkish enough to continue betting on a September interest rate hike. Today’s report about US economic growth did not …

EUR/USD Fails to Rally on FOMC Statement

July 29, 2015

EUR/USD fell today even though data released during the current trading session was favorable to the currency pair. Neither falling pending home sales, nor FOMC statement, which was somewhat dovish, could help the euro to gain on the dollar. The shared 19-nation currency attempted to shoot to upside after the release …

Forex Brokers Update — July 25th, 2015

July 25, 2015

Three new brokers have been added to the list on our website during the last two weeks:

MTrading — an offshore company with offices in a number of emerging countries. Support MetaTrader 4 platform with both fixed and variable spreads.

ADS Securities London — a regulated British broker with standard, …

Weekly Forex Technical Analysis (Jul 27 — Jul 31)

July 25, 2015

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0640 1.0724 1.0850 1.0934 1.1060 1.1144 1.1270

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0734 1.0871 1.0945 1.1081

EUR/USD Demonstrates Small Losses During Friday’s Trading

July 24, 2015

EUR/USD dropped today as bad economic reports from Europe & China made traders flock to the safety of the US currency. The currency pair did not fall far, though, and trimmed its losses as data from the United States was not particularly good as well.

Flash Markit manufacturing PMI was …

Euro Gains Even as US Data Supports Dollar

July 23, 2015

The euro gained on the dollar today as the Greek parliament approved another set of reforms that are required to secure a bailout from the European Union. The US currency attempted to bounce after the release of better-than-expected data from the United States, but success has been very limited so far.

Initial jobless claims

EUR/USD Retreats After 1 Percent Gain on Tuesday

July 22, 2015

EUR/USD pulled back today after climbing 1 percent yesterday. The currency pair was moving sideways for the most part of the Wednesday’s session but has dipped recently and currently continues to move down.

Existing home sales demonstrated an increase to the seasonally adjusted annual rate of 5.49 million in June from …

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Calculate Maximum Potential Loss in MetaTrader

April 24, 2015 (Last updated on May 31, 2015)

If you ever wondered what is the total cumulative risk of your currently open orders and positions, then my latest MetaTrader tool — Risk Calculator — will help you to answer that question even if you have many orders with interwoven stop-loss and take-profit levels.

Although, I am …

Instant Execution vs. Market Execution

April 21, 2015

As you probably know, there are two kinds of orders in MetaTrader platform: pending orders and market orders. Pending orders can be either limit or stop and will be executed when the price reaches some predefined level. Market orders can be either of instant execution or of market

Script to Place Orders with Position Size Calculator

April 7, 2015 (Last updated on May 31, 2015)

If you have thought that trading based on the accurately calculated position size cannot get any better, think again. Now you can use a MetaTrader script to place orders based on the calculations of the Position Size Calculator indicator. The script will detect the position size calculated by the indicator …

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 …

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