Forex Blog

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

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Will Jerome Powell Continue Yellen’s Policy or Start a Revolution?

November 20, 2017

Jerome Powell was nominated for the position of the US Federal Reserve Chair on November 2. His appointment is still to be approved by the Senate, but there is little doubt that Powell will be the one who takes the most powerful office in the financial industry on February 1.

Trump’s picking Powell …

EUR/USD Volatile amid German Political Turmoil

November 20, 2017

EUR/USD fell intraday amid news that talks about forming a coalition government in Germany failed. The currency pair bounced later to traded at the opening level. But as of now, EUR/USD retreated yet again, though not as low as during the previous drop. This week’s economic calendar is relatively light on releases …

Forex Brokers Update — November 19th, 2017

November 19, 2017

While there were no new additions to the list of Forex brokers on our website during the week, some of the existing listings have been updated:

ICM Capital launched crypto trading with Bitcoin.

Key To Markets added a Russian language version of their website.

GKFX added BTC/USD and BTC/EUR cryptocurrency

Weekly Forex Technical Analysis (Nov 20 — Nov 24)

November 18, 2017

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1441 1.1539 1.1664 1.1762 1.1887 1.1985 1.2110

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1546 1.1677 1.1769 1.1900

Which Forex Pair Trends the Most

November 17, 2017

A successful currency trader needs a proven trading strategy. Many traders prefer strategies based on trends. Such strategies work best with currency pairs that trend well. Monitoring a predominantly range-bound currency pair (USD/KRW, for example) would yield little result, even with a solid trading strategy

EUR/USD Slips Despite Disappointing US Data

November 16, 2017

EUR/USD edged a little lower today even as most US economic report were disappointing. The dollar remained under pressure from uncertainty about the planned tax cuts.

Initial jobless claims rose from 239k to 249k last week instead of falling to 235k as analysts had predicted. (Event A on the chart.)…

EUR/USD Remains Little Changed Despite Slew of Economic Reports

November 16, 2017

EUR/USD settled little changed on Wednesday (though it attempted to rally intraday) despite the large amount of economic reports in the United States. One of the most important of them was the inflation data, which showed that headline inflation slowed last month. Yet underline inflation accelerated a bit from 0.1% to 0.2%. …

EUR/USD Flat on Uneventful Monday

November 13, 2017

With no important news, EUR/USD was trading mostly in a range. Both the dollar and the euro had their own factors that were limiting their chances to rally. The greenback suffered from uncertainty about the tax reform bill, while the currency of the eurozone was hurt by speculations that the European

GBP/CAD to Fall After Descending Triangle Formation

November 13, 2017

The rate consolidation that took form a descending triangle on the weekly chart of GBP/CAD reflects the broad weakness of the Great Britain pound, which is also seen in the EUR/GBP ascending triangle posted here yesterday. The downtrend in GBP/CAD lasts since 2015 and is forming a strong horizontal support since October last …

EUR/GBP Is Showing Long-Term Bullish Consolidation on Weekly

November 12, 2017

The euro is in an uptrend against the British pound since July 2015. However, the trend is stalling in a triangle-like consolidation since October 2016. The current form of the pattern lets traders conclude in favor of its validity. It can now be used as a breakout trade setup.

You can see the triangle delimited …

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 …