Forex Blog

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

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EUR/USD Goes Higher After FOMC Minutes

May 24, 2017

Today, the Federal Open Market Committee released minutes of its latest policy meeting. While the notes were relatively upbeat, hinting at a possibility of an interest rate hike in June, EUR/USD moved up, rather than down. It seems markets considered the minutes to be not as hawkish as dollar bulls …

Which Cryptocurrency Pairs Do You Trade in Forex?

May 22, 2017

My old poll about the popularity of currency pairs had rather predictable results — EUR/USD, GBP/USD, the JPY pairs are the leaders. But how about the cryptocurrency trading? Can it be considered a part of the more traditional Forex scene? Given the fact that many FX brokers now support trading

Weekly Forex Technical Analysis (May 22 — May 26)

May 20, 2017

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0704 1.0813 1.0994 1.1103 1.1283 1.1392 1.1572

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0831 1.1029 1.1120 1.1319

EUR/USD Falls After Four Sessions of Gains

May 18, 2017

EUR/USD declined today following four consecutive sessions of gains as US economic data released over the current session was surprisingly good for the most part. It allowed the dollar to overcome the impact of US politics. Yet the troubles have not ended yet as Reuters reported that people involved in Donald Trump’s …

EUR/USD at Highest Since November

May 16, 2017

EUR/USD rallied today, jumping to the highest level since November. There were plenty of reasons for the rally. Allegations of US President Donald Trump revealing intelligence secrets to Russia caused worries and hurt the appeal of the dollar. US housing data failed to meet expectations, damaging the currency further. Meanwhile, both economic and political …

EUR/USD Goes Higher, Weak US Manufacturing Helps Maintain Momentum

May 15, 2017

EUR/USD was rising today, and soft manufacturing data from the United States helped the currency pair to continue the rally. With that said, EUR/USD started to move sideways after a while, and the worse-than-predicted report about net foreign purchases did not change that.

NY Empire State Index slumped from …

Forex Brokers Update — May 14th, 2017

May 14, 2017

We have not added any new brokers during the week but we had some updates to report on:

Titan FX now supports deposits via Bitcoin and UnionPay.

AAATrade no longer offers free education. Spreads are now variable. Margin call level has been increased …

Weekly Forex Technical Analysis (May 15 — May 19)

May 13, 2017

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0659 1.0749 1.0838 1.0928 1.1017 1.1107 1.1196

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0749 1.0837 1.0927 1.1016

EUR/USD Surges Following Poor CPI and Retail Sales Data

May 12, 2017

The US dollar dropped abruptly against the single European currency today following a the release of the consumer inflation and sales data from the United States. EUR/USD rally was short-lived but strong. Minor US reports that had been released afterwards were ignored by market participants.

US CPI increased by 0.2% …

EUR/USD Again Fails to Rally

May 11, 2017

EUR/USD attempted to rally today but was unable to keep gains, similar to its performance during the previous trading session. This time, though, the reason for the decline was clearer. The currency pair dropped as US macroeconomic indicators were unexpectedly good, increasing the appeal of the US dollar to investors.

PPI

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 …

How to Add Alerts to MetaTrader Indicators

March 22, 2016 (Last updated on December 21, 2016) 33 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

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