Forex Blog

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


EUR/USD Rises and Falls, Ignores US Macros

January 17, 2018

The euro was on the rise against the US dollar during the first half of the New York trading session but declined afterwards. The currency pair paid little attention to the macroeconomic data that was released in the United States today.

Industrial production increased by 0.9% in December after 0.1% decline in November (revised negatively …

E-Book Review: Forex Exchange Training Manual by Lehman Brothers

January 16, 2018

Lehman Brothers was a titan of financial trading before going bankrupt in September 2008. In March 2010, Anton R. Valukas and his law firm Jenner & Block produced a 2200-page report on the company. It was used in the bankruptcy court hearings. Consequently, the report has been made public. Yesterday, …

Forex Brokers Update — January 14th, 2018

January 14, 2018

The first brokers update post this year is not very rich on the news, but features a new broker:

ATFX — a Cyprus-based regulated Forex broker with $200 minimum account size and MT4 platform. $5,000 will let you open an Edge account with much lower spreads. Leverage …

Weekly Forex Technical Analysis (Jan 15 — Jan 19)

January 13, 2018


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1701 1.1808 1.2004 1.2111 1.2307 1.2414 1.2610

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1831 1.2049 1.2134 1.2352

EUR/USD Rally Stopped by Good CPI Report

January 12, 2018

Having initially rallied on the Brexit deal news (event A on the chart), EUR/USD dipped on the US inflation and retail sales data, but returned to a slow uptrend afterwards. It looks like it is becoming difficult for the currency pair to continue its growth above the multi-year highs.

US CPI increased by 0.1% in December …

EUR/USD Rallies on ECB Meeting Account and Poor US Data

January 11, 2018

The euro rallied versus the US dollar immediately after the December ECB meeting accounts have been made public (event A on the chart). The account turned out to be more hawkish compared to what the market participants had expected. The currency pair then continued to grow following the poor macroeconomic data from …

EUR/USD Fails to Restart Rally on Mediocre US Data

January 10, 2018

The euro rallied against the US dollar earlier today on the rumors that China may reduce or stop its purchases of the US Treasury notes. The US dollar regained some of the losses after the initial upswing in EUR/USD and did not weaken much following lackluster domestic macroeconomic data.

Export and import prices report …

Weekly Forex Technical Analysis (Jan 8 — Jan 12)

January 6, 2018


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1903 1.1952 1.1991 1.2040 1.2079 1.2128 1.2167

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1949 1.1986 1.2037 1.2074

EUR/USD Fails to Stage Rally on Back of Weak NFP

January 5, 2018

US nonfarm payrolls came out worse than analysts expected. It was a stark contrast to the private ADP employment report released earlier this week, which surprised market participants positively. EUR/USD attempted to rise after the release, but the rally was extremely short-lived, and the currency fell below the pre-rally …

EUR/USD Sticks to Gains Following ADP Employment Report

January 4, 2018 (Last updated on January 11, 2018)

EUR/USD was rising today, and the stellar employment data from Automatic Data Processing was unable to stop that. Some market analysts argued that the reason for that was risk appetite among investors. Others pointed out at the set of solid PMI figures released by Markit today as the reason for the euro’s gains …

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 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 …