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Weekly Forex Technical Analysis (Dec 18 — Dec 22)

December 16, 2017

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1546 1.1632 1.1691 1.1777 1.1836 1.1922 1.1981

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1625 1.1678 1.1770 1.1823

EUR/USD Declines as Tax Reform Overshadows Economic Data

December 15, 2017

EUR/USD attempted to rally today but failed and dropped, even though almost all economic reports released in the United States were worse than expected. The possible reason for the drop were the signs that the Republicans were close to passing the US tax reform bill.

NY Empire State Index fell …

EUR/USD Drops After Release of Solid US Economic Reports

December 14, 2017

EUR/USD dropped today as almost all reports released in the United States over the trading session were good. The signs that the voting for the final version of the US tax reform bill may happen as soon as the next week also drove the currency pair down.

Retail sales rose 0.8% in November, exceeding the median …

EUR/USD Jumps After FOMC, Core CPI Miss

December 14, 2017

EUR/USD rallied on Wednesday and remained elevated on Thursday due to news from the United States. Headline US inflation was within expectations, but the core figure missed forecasts. The Federal Open Market Committee hiked the benchmark interest rate as was expected, but there were two dissenters. And markets doubt …

EUR/USD Drops as Traders Wait for FOMC, PPI Shows Stable Growth

December 12, 2017

EUR/USD dropped today as US producer inflation remained stable. Now, traders focus on the meeting of the Federal Open Market Committee. The FOMC started the two-day gathering today and will announce its decision tomorrow. It is widely expected that the Committee will raise interest rates further.

PPI

GBP/CAD Reverses to Form Double Bottom on Weekly

December 10, 2017

Following a failed descending triangle formation, the pound is now clearly trying to reverse its long-term trend versus the Canadian dollar. The impending switch to an uptrend is signaled by the double bottom pattern on the weekly timeframe.

You can see the bottoms and the neckline marked by the yellow lines on the chart below. The cyan …

Forex Brokers Update — December 10th, 2017

December 10, 2017

The last two weeks have been quite busy in terms of brokers’ updates. We have listed three new companies:

Markets Cube — a shady unregulated Cypriot Forex broker with $5,000 minimum account size, 1:100 leverage, and Sirix Station as the trading platform. They claim to accept US traders.…

Weekly Forex Technical Analysis (Dec 11 — Dec 15)

December 9, 2017

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1561 1.1646 1.1709 1.1794 1.1858 1.1942 1.2006

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1640 1.1699 1.1789 1.1847

EUR/USD Erases Losses After NFP Show Disappointing Wage Growth

December 9, 2017

EUR/USD was attempting to extend its decline on Friday but bounced back to the opening level after the release of US nonfarm payroll. While employment growth was solid and even beat expectations, wage inflation missed expectations, even though it accelerated.

Nonfarm payrolls rose by 228k in November, beating the common …

EUR/USD Declines for Third Session as Traders Remain Hopeful for Tax Reform

December 7, 2017

EUR/USD extended its decline for the third session in a row today as investors remained hopeful that US politicians will implement the tax reform and it will be beneficial to the US economic growth. The currency pair also fell as risk aversion rose after US President Donald Trump said that Jerusalem …

Profile Persistence and Pip Value Display in Position Size Calculator

August 25, 2017

Today’s update to the Position Size Calculator indicator is not as big and significant as the last one, but I am sure the version 2.08 will be interesting to many traders.

Platform profile change will no long disrupt your panel location, minimization status, and settings:

Pip value

Spread Display and Take-Profit Multiplier in Position Size Calculator

July 24, 2017

It is time to roll out a new version of the Position Size Calculator indicator. Although the new release does not implement any breakthrough changes it introduces some useful features and fixes one annoying bug.

Take-profit button multiplier (set via input parameter) can be …

Free Order Management EA with a Graphic Control Panel

February 6, 2017

I remember myself during my early Forex years, sitting on a bunch of positions across five or six currency pairs and thinking — how do I make them all close at once when their total profit reaches my target? Now, I have developed a tool that does exactly that. I am pleased to announce the launch …

PSC Panel Scaling for High-DPI Displays

December 21, 2016

MetaQuotes has spurred my development process, forcing me to release the next version of the Position Size Calculator indicator much faster than I had intended to. Their latest changes to both MT4 and MT5 platforms prevented compilation of the PSC source code due to new way the string variables must be …

New: See Swaps Info, Control Trading Script via PSC Panel

November 11, 2016 1 Comment

It is time to release another version of Position Size Calculator indicator. It has some important bugs fixed and also adds new exciting features, including two new tabs. The complete list of changes is provided below.

    The Balance button on the Main tab now has a third

Major Fixing of Position Size Calculator + Symbol Leverage Display

September 20, 2016 2 Comments

I have uploaded a new version of Position Size Calculator indicator for MetaTrader today. It addresses several issues mentioned in the forums and in support messages and provides better usability. Here is the list of changes:

    Calculated symbol Leverage is now visible in the Margin tab of the panel. Fixed a bug that

MetaTrader Panel for Position Size Calculator

September 7, 2016 (Last updated on February 5, 2017) 7 Comments

In February 2008, I have launched a simple online position size calculator — a tool that helped thousands of traders to open trades based on their risk preference. In March 2012, I have published the first version of position size calculator (PSC) indicator for MetaTrader. Now, 4 …

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 (Last updated on January 29, 2017) 4 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 1 Comment

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 …