Forex Blog

The long-term support line formed at a weekly timeframe chart of the EUR/CHF currency pair now holds even more strength as the price has shown a very interesting trend consolidation pattern during several last weeks. As you can see on the chart the currency pair remain in a fading bearish downtrend with each new…

MetaTrader is a great software for charting, analyzing, trading and testing. It has many useful features and supports many tools that make the life of the Forex trader much easier. But when it comes to drawing the new candles/bars on the chart there is a tricky part of MetaTrader.

Both in MT4 and MT5 the candles…

EUR/GBP formed a symmetrical triangles pattern on the daily chart near the end of this week. Although the pattern isn’t aligned horizontally to count as reliable, the price is currently located near the apex of the triangles and may break out of it soon. Since this is a continuation pattern, expect a bearish trend continuation as the most…

A somewhat rough symmetrical triangles pattern has formed on the D1 timeframe chart of the GBP/JPY currency pair. Considering the general bearish trend on this timeframe period, the pair has an elevated chance of breaking for a downtrend with a target somewhere close to 137.50. A signal would be a close below the lower border of the triangle with…

My last shared trade turned out to be losing one. Oh well, such things happen in Forex trading. But, anyway, today I’d like to share another trade with you. It’s a pull-back trade on USD/JPY, which is based mostly on fundamental analysis. In my opinion (confirmed by the pull-back…

The weekly chart of EUR/CHF currency pair is showing a rather rare pattern — a horizontal channel formed by the support and resistance levels. The support level is a double bottom with two lines close to one another. The bearish breakout through such support level can be a very strong signal. EUR/CHF…

The new position system of MetaTrader 5 (no-hedge FIFO) is quite different from what the Forex traders used to see in MT4. It spurred many flame wars on various Forex-related forums and made many worthy traders believe that trading with new MT5 adds extra costs to trading (in a form…

If you are interested in learning more about various chart patterns that can be used in Forex trading or need to gain some basic knowledge on some simple technical indicators, then the latest free e-book that was added to my site today is for you. It gives a detailed description…

I’d like to share my today’s early trade with you. Slightly more than a month ago I’ve written about a symmetrical triangle pattern on CHF/JPY W1 chart. Last week the price have closed above the upper limit of the triangle, which signals a bullish breakout from the pattern. I entered a long…

The latest trend development on the EUR/JPY currency pair’s weekly timeframe chart shows a strong resistance level formed near 138.56 with a support level being sloped under a rather small angle to this resistance. Thus the ascending triangle chart pattern is formed on EUR/JPY. The pattern looks almost perfect but…