Forex Blog

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

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Weekly Forex Technical Analysis (Sep 25 — Sep 29)

September 23, 2017

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1689 1.1775 1.1861 1.1947 1.2033 1.2119 1.2205

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1775 1.1861 1.1947 1.2032

EUR/USD Drifts Closer to Opening After Strong Start of Session

September 22, 2017

EUR/USD rallied during the first half of the current trading session but has drifted down closer to the opening level by now. The dollar was under pressure from growing tensions between the United States and North Korea. Meanwhile, the euro was getting support from the fact that all Purchasing Managers’ Indices …

EUR/USD Resumes Rally Started Yesterday

September 19, 2017 (Last updated on September 20, 2017)

EUR/USD has started a rally during yesterday’s American trading session, which continued into the early hours of today’s European session. The currency pair retreated a bit afterwards, but it looks like EUR/USD is going to resume the rally.

Housing starts were at the seasonally adjusted annual rate of 1.18 million …

Forex Candlestick Patterns Cheat Sheet

September 18, 2017

The topic of the Japanese candlestick patterns in currency trading is rather controversial because not all of them apply to the spot foreign exchange market. With almost no gaps between the candles and no definite daily close/open levels, the traditional candlestick patterns are somewhat less applicable in Forex. The cheat sheet …

Forex Brokers Update — September 17th, 2017

September 17, 2017

One new broker has been added to the list on EarnForex.com during the ending week:

IQ Option — previously known for its binary options offers, this CySEC-regulated broker now provides trading services in Forex and CFD using its custom proprietary platform. $10 minimum account size is combined …

Weekly Forex Technical Analysis (Sep 18 — Sep 22)

September 16, 2017

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1654 1.1746 1.1845 1.1937 1.2037 1.2129 1.2228

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1748 1.1849 1.1939 1.2040

EUR/USD Goes Higher After Friday’s US Data

September 15, 2017

EUR/USD went higher today during the session that was busy in terms of macroeconomic data from the United States. Plenty of economic reports were released and unfortunately (at least for dollar bulls) quite a few of them were disappointing. Additionally, prospects for monetary tightening from the European Central Bank continued to support …

EUR/USD Shrugs Off Pressure from Positive US CPI

September 14, 2017

EUR/USD fell today after the release of the US Consumer Price Index, which exceeded market expectations. Yet the currency pair quickly recovered and is now trading above the opening level.

CPI rose 0.4% in August, exceeding the previous month’s growth of 0.1% and exceeding the forecast of 0.3%. (Event A on the chart.)

Initial jobless

EUR/USD Falls Even as US PPI Misses Forecasts Slightly

September 13, 2017 2 Comments

EUR/USD fell today even as US producer price inflation missed expectations. The miss was not big, though, and the markets’ attention was glued to tomorrow’s consumer price data anyway. Meanwhile, crude oil stockpiles continued to swell, while gasoline stockpiles were falling, as plenty of refineries were closed as a result …

How Many Trading Platforms Do You Have Installed? Poll

September 11, 2017

Unless you trade solely on your broker’s web platform and do all your analysis on Tradingview or its likes, having at least one trading platform installed on your computer is an obvious necessity. Whether you are still learning to trade or you are an experienced Forex trader, the chances are …

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 …