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

EUR/USD Recovers After Sharp Drop

June 29, 2015

EUR/USD dropped sharply after the start of the current trading session as the uncertainty surrounding the situation with Greece and its future in the eurozone caused investors to flee European assets. Yet the euro bounced against the dollar afterwards and is trading near the opening level currently.

Pending home sales were up 0.9% in May

Forex Brokers Update — June 27th, 2015

June 27, 2015

One new company has been listed during the last two weeks:

Tradeo — a regulated Maltese broker with MT4 platform, variable spreads, and 1:200 leverage on Forex instruments. The minimum account size is $250.

Some changes to the existing listings:

Weekly Forex Technical Analysis (Jun 29 — Jul 3)

June 27, 2015

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0784 1.0957 1.1064 1.1237 1.1344 1.1517 1.1624

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0941 1.1031 1.1221 1.1311

Uncertainty About Greek Bailout Results in Volatile Trading for EUR/USD

June 25, 2015

Trading was volatile today as traders focused their attention on the negotiations between Greece and its creditors. There were conflicting rumors about the outcome of the talks, giving no clear edge either to the dollar, or to the euro. As a result, EUR/USD currently trades near the opening level.

Initial jobless claims rose a little from …

Mobile Applications for Binary Options Trading: User’s Test

June 24, 2015

The following post is a paid advertisement. The content was provided by the advertiser.

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EUR/USD Pulls Back After Earlier Gains

June 24, 2015

EUR/USD attempted to rally earlier during the current trading session but pulled back later and is trading not far from the opening level as of now. The dollar firmed against the euro after the report showed that the decline of the US economy during the first quarter of this year was negligible. Additionally, concerns …

EUR/USD Sinks on Greek Worries

June 23, 2015 (Last updated on June 24, 2015)

The dollar surged against the euro today even though economic reports from the United States were mixed while data about manufacturing and services sectors of the eurozone was rather positive. The reason for the euro’s underperformance was the debt crisis in Greece and the resulting risk aversion among investors. Negotiations about a bailout for the indebted …

Weekly Forex Technical Analysis (Jun 22 — Jun 26)

June 20, 2015

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0966 1.1078 1.1213 1.1325 1.1460 1.1571 1.1706

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1084 1.1225 1.1330 1.1472

EUR/USD Extends Post-FOMC Gains

June 18, 2015

EUR/USD rallied today, extending yesterday’s gains. The dollar remained under pressure from the FOMC dovish statement while the euro was supported by rumors about extension of the bailout program for Greece. The currency pair was rising during the first half of the trading session but is struggling to maintain its upward …

Dollar Weakens After FOMC Policy Meeting

June 17, 2015 (Last updated on June 19, 2015)

EUR/USD has been trading basically sideways for the most part of the Wednesday’s trading session but broke to the upside after the Federal Reserve had concluded its policy meeting. Market participants perceived the Fed’s statement to be dovish, resulting in a drop of the dollar against other currencies, including the euro.

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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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