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Forex Blog

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

EUR/USD Slips as Market Sentiment Stabilizes

September 2, 2015

The market sentiment stabilized a bit following the recent turmoil on the Forex market caused by concerns about slowing global growth. The euro fell against the dollar as a result even though all today’s US economic reports were poor. The euro were acting like a safe currency lately, making the calm on the market detrimental …

EUR/USD Retains Gains for Second Day

September 1, 2015

EUR/USD continued to rally for the second trading session today. While the currency pair trimmed its gains as of now, it still remained far above the opening level. Poor economic data from the United States did not allow EUR/USD to retreat too far.

Final Markit manufacturing PMI was at …

Methods of Deposit and Withdrawal in Online Forex

August 31, 2015

Five years ago, I have asked my readers about their preferred way of funding a Forex trading account. The results, unsurprisingly, showed a significant bias in favor of credit cards and PayPal. During the five years that passed, many things have changed in the payment systems and their availability to the Forex traders.

Credit/debit

Forex Brokers Update — August 30th, 2015

August 30, 2015

One company has launched an international version of its website and its description is now available in the English part of EarnForex.com:

VerumFX — a Russian broker with CROFR regulation and rather plain MT4 trading conditions — up to 1:200 leverage and $100 minimum account size.

Some other brokers have got …

Weekly Forex Technical Analysis (Aug 31 — Sep 4)

August 29, 2015

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0428 1.0792 1.0986 1.1350 1.1544 1.1908 1.2102

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0750 1.0901 1.1308 1.1459

EUR/USD Fails to Extend Rally

August 28, 2015

EUR/USD was trying to extend its rally for yet another day on Friday and has been successful at first. Yet the currency pair halted its advance as of 8:30 GMT and was moving down since, reaching the opening level and attempting to go lower. Whatever the reason for such behavior, it is not US …

EUR/USD Moves Down for Third Day

August 27, 2015 (Last updated on August 28, 2015)

EUR/USD continued to move down for the third straight trading session today as markets are stabilizing after China’s scare at the start of the week. The Asian nation took stimulating measures to support its slowing economic growth and the collapsing stock market. This caused EUR/USD to reverse its huge jump that the currency pair …

EUR/USD Extends Reversal Move

August 26, 2015 (Last updated on August 28, 2015)

EUR/USD extended its Tuesday’s move down that followed the big surge on Monday. Markets calmed down a bit after China took measures to support its slowing economy and to mitigate the negative impact of sinking Chinese shares.

Durable goods orders rose 2.0% in July. That is compared to the June’s revised …

EUR/USD Slips Back After Huge Jump

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

EUR/USD soared 2 percent on Monday even though the Forex market was driven by risk aversion as the Chinese stock market plunged yet again. Today, the currency pair retreated but is far from erasing its momentous gains.

S&P/Case-Shiller home price index rose 5.0% in June from a year …

Forex Brokers Update — August 22nd, 2015

August 22, 2015

We have added one new Forex broker during the week that is ending:

TrioMarkets — a new company regulated by CySEC. They offer rather standard service with MetaTrader 4 and WebTrader platforms. The minimum account size is $100. They also have quite a big choice of trading …

  • MT4
  • Forex book
  • chart
  • Forex poll
  • infographics
  • tutorial
  • MetaTrader script

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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