Forex Blog

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


EUR/USD Bounces After US Existing Home Sales Miss Expectations

March 22, 2017

EUR/USD was down intraday but has bounced to trade above the opening level as of now. One of reasons for that were US existing home sales that failed to meet market expectations. The US currency was also under pressure from concerns that US President Donald Trump may not …

How Can High Nonfarm Payrolls Hurt USD?

March 20, 2017

Nonfarm payrolls is a macroeconomic employment report released monthly by the US Bureau of Labor Statistics (or BLS for short). The number represents the quantity of new jobs added by the non-agriculture private sector during the month. Forex traders consider it as an invariably important report in respect of its effect on the US dollar. They also consider …

Forex Brokers Update — March 19th, 2017

March 19, 2017

The following brokers’ listings have been updated during the week:

CIBFX lowered its minimum spread on Forex pairs, increasing maximum leverage to 1:500. Gold and silver trading is no longer supported on Standard accounts. The minimum account size for the Standard accounts has been raised from $100 to $1,000. Micro …

Weekly Forex Technical Analysis (Mar 20 — Mar 24)

March 18, 2017


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0447 1.0523 1.0630 1.0706 1.0812 1.0889 1.0995

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0531 1.0645 1.0714 1.0828

EUR/USD Pauses Rally After Two Days of Gains

March 17, 2017

EUR/USD fell today after two days of gains even though today’s economic data from the United States was mixed, and other fundamentals also did not provide a reason for the rally to stop. Yet the euro was weak across the board during the Friday’s session, most likely because traders considered …

EUR/USD Little Changed After Day of Fed Decision

March 16, 2017

EUR/USD was little changed today, trading near the highest level in a month and a half, following yesterday’s decision by the Federal Reserve to hike interest rates. Today’s data from the United States was very mixed, giving little guidance to the currency pair.

Housing starts were at the seasonally adjusted annual rate of 1.29 …

EUR/USD Soars After Fed Hikes Interest Rate

March 15, 2017

EUR/USD surged more than1% today after the Federal Reserve hiked interest rates. That may seem counter-intuitive to some as currencies tend to rise when their respective central banks raise interest rates, thus the dollar should have rallied versus the euro, not vice versa. Yet such performance …

Yet Another American VPS Company (Accepts Bitcoin)

March 14, 2017

Hostwinds is another USA-based hosting provider that has been added to our list of Forex VPS companies. It markets itself as offering above-average services at budget prices. Basically, you can buy a $13.50/month Windows hosting package to allocate a MetaTrader platform. However, the company’s support staff recommends …

Will FOMC Raise Interest Rate in March 2017?

March 13, 2017 (Last updated on March 16, 2017)

When the Federal Reserve hiked the interest rate in December last year, it was hardly a surprise for anyone. I even decided not to post a poll due to an extremely low probability of any other outcome to that Federal Open Market Committee meeting. No one expected a rate increase during the January meeting …

Forex Brokers Update — March 12th, 2017

March 12, 2017

It was one more week without new listings, but there were following updates:

Saxo Bank shut its Cyprus office.

XM.COM now offers MT5 platform in its demo and live trading accounts. Removed its Executive account type.

FIBOGroup added MT5 NDD account type. …

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) 5 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 …

How to Add Alerts to MetaTrader Indicators

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