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Weekly Forex Technical Analysis (Jun 27 — Jul 1)

June 25, 2016 No Comments

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0343 1.0627 1.0859 1.1143 1.1376 1.1660 1.1892

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0614 1.0833 1.1130 1.1349

EUR/USD Crashes as Britons Vote for Brexit

June 24, 2016 No Comments

EUR/USD sank more than 2% today after yesterday’s referendum in Britain. As it turned out, Britons voted for leaving the European Union even though votes for staying were leading in polls. While the Great Britain pound was obviously the biggest loser, the euro also suffered greatly due to uncertainty about …

EUR/USD Backs Off from Daily Highs, Remains Above Opening

June 23, 2016 No Comments

EUR/USD rallied today as Britons were voting whether to stay in the European Union or leave it. Polls were showing that there were more people preferring to remain in the Union than to leave it. This gave boost to European currencies, limiting demand for safe currencies (like the dollar). US economic data, …

EUR/USD Trades Above Opening Ahead of Britain’s Referendum

June 22, 2016 No Comments

EUR/USD was rising for the most part of today’s trading session (though trimmed gains by now) as the referendum nears about the place of Great Britain in or outside of the European Union. Meanwhile, the cautious stance of US policy makers and the possible delay of interest rate hikes made the dollar less appealing to traders.

Existing home sales

Top 10 Forex Calendars in 2016

June 21, 2016 No Comments

Three years after publishing our first extensive comparison of the top Forex calendars of that time, we return to the subject with the information updated to reflect everything that the industry has to offer in 2016.

Technical analysis is the statistical study of market data (price, volume, etc.), while fundamental analysis is …

Is the Fall of the US Dollar Inevitable?

June 20, 2016 No Comments

Introduction

The goal of this article is to study the likelihood of the long-term US dollar depreciation vs. its major counterparts in the coming years. I presume the status of the US dollar as the global reserve currency (international currency) to be unchanged in the near future and I base my research and conclusion on the the strengths and weaknesses pertinent to the USD due to such status. …

Forex Brokers Update — June 19th, 2016

June 19, 2016 No Comments

One new broker has been listed on EarnForex.com during the week that is ending today:

ECN PRIME — an unregulated offshore company positioning itself as a pure ECN trading facility. It offers Forex accounts starting from $100 with such trading platforms as MetaTrader 4, Currenex Viking, …

Weekly Forex Technical Analysis (Jun 20 — Jun 24)

June 18, 2016 No Comments

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0998 1.1064 1.1170 1.1236 1.1342 1.1408 1.1514

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1074 1.1189 1.1246 1.1361

EUR/USD Loses Wednesday’s Gains

June 16, 2016 1 Comment

EUR/USD was unable to keep yesterday’s gains, falling today more than it had risen during the previous trading session. Economic data from the United States was not very good, therefore it was not the reason for the dollar’s gains versus the euro. The most likely reason for such behavior …

FOMC Lowers Interest Rate Expectations, EUR/USD Jumps

June 15, 2016 (Last updated on June 16, 2016) No Comments

EUR/USD surged today after the Federal Open Market Committee left its monetary policy unchanged and lowered its economic expectations. Of the particular note was the forecast for interest rates that was also cut. It showed a smaller number of interest rate hikes in 2017 and 2018. Furthermore, chances …

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See Currency Rate Change in Percents on Your Chart

June 13, 2016 1 Comment

Daily Percentage Change is the latest addition to the list of free MT4/MT5 indicators I share on EarnForex.com. It is loosely based on this MT4 indicator. The main advantage of such an indicator is that it can be used in price action trading to get the understanding of the current session’s direction …

MetaTrader Templates Tutorial — Copying Settings Between Charts and Platforms

May 20, 2016 No Comments

You might already know how to copy input parameters for a single indicator across different charts and platforms. You also might have mastered the power of copying the whole account profiles from one MetaTrader instance to another. However, sometimes, what you need is just to copy one chart — …

Will Hedging and Real Ticks Backtesting Sway You Toward MT5?

May 9, 2016 No Comments

In March, MetaQuotes had launched a public beta of MetaTrader 5 platform with position hedging and backtesting on real ticks. In April, the developer had pushed the modification to brokers’ demo servers. The companies can disable creation of hedging accounts in MT5 (which they mostly do). However, the feature is already there and soon …

How to Add Alerts to MetaTrader Indicators

March 22, 2016 (Last updated on March 23, 2016) No Comments

Originally, I intended this post as a do-it-yourself guide on how to add alerts to MetaTrader indicators without knowing how to code at all. But writing it, I came to realization that even if a trader knows nothing about MQL language and coding he will have to learn some basics through this guide …

Display Weekly and Monthly Market Profile in MetaTrader

January 25, 2016 No Comments

After introducing the MetaTrader Market Profile indicator back in 2010, today I have finally updated both the MT4 and MT5 versions to work with weekly and monthly trading sessions in addition to the daily ones. Also, I have improved its functionality and fixed a number of bugs:

    Color scheme selection is now

Another Expert Advisor to Trade the News

December 24, 2015 No Comments

A way to celebrate Christmas and the New Year for me is to share something with other traders. Years ago, I have uploaded Amazing EA for MT4 that was coded by someone calling himself FiFtHeLeMeNt. Five years ago, I have converted it to MT5. That expert advisor is rather bulky …

Schaff Trend Cycle Converted for cTrader (+ Alerts)

December 18, 2015 No Comments

Four years ago, I have converted Schaff Trend Cycle (STC) for MetaTrader (MT4 and MT5) and uploaded it to EarnForex.com. In March 2014, I also shared an MT4 version with limited alerts capability. Starting from today, you can get a free Schaff Trend Cycle indicator for cTrader. Also, …

Pips Display in Position Size Calculator Indicator

November 30, 2015 2 Comments

I am releasing a new version of Position Size Calculator indicator today. The main new feature is the display of pips distance for stop-loss and take-profit below the respective lines on the chart. It is turned on by default, so you will need to set ShowLineLabels to false if you do not …

Traders Dynamic Index (TDI) Converted to MT5 and cTrader

November 26, 2015 (Last updated on December 18, 2015) No Comments

As a way to celebrate Thanksgiving, I have finally found some time to convert one of the most popular MT4 indicators to the two less popular platforms: MetaTrader 5 and cTrader. You will also find a more detailed and precise description of the indicator on EarnForex.com. Meanwhile, I have also updated the MT4 version for better compatibility with …

Calculate Maximum Potential Loss in MetaTrader

April 24, 2015 (Last updated on May 31, 2015) No Comments

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 …