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Weekly Forex Technical Analysis (Aug 19 — Aug 23, 2019)

August 17, 2019

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0863 1.0964 1.1027 1.1129 1.1191 1.1293 1.1355

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0955 1.1007 1.1119 1.1171

EUR/USD Continues to Decline German Yields Fall

August 16, 2019

EUR/USD continued to decline today. German 10-year yield fell to a new low of -0.725% today amid signs that the European Central Bank is planning to ease its monetary policy further. Market analysts speculated that it was the main reason for the euro’s weakness.

Housing starts were at the seasonally adjusted …

EUR/USD Drops After US Retail Sales Beat Expectations

August 15, 2019 (Last updated on August 16, 2019)

EUR/USD fell on Thursday, declining for the third day in a row. The reason for today’s decline were US retail sales that beat expectations.

Philadelphia Fed manufacturing index fell from 21.8 in July to 16.8 in June. Still, it was above the consensus forecast of 10.1. (Event A on the chart.)

Retail sales

EUR/USD Declines as USA Postpones Tariffs on Chinese Goods

August 14, 2019

EUR/USD declined for the second day today after Washington announced yesterday that it will delay implementation on new tariffs on Chinese goods till December. It will be done to relieve pressure on consumers during the Christmas season. US macroeconomic data was decent enough to provide an additional boost to the dollar.…

The State of Vanilla Options Trading Around the World

August 13, 2019

Vanilla options (standard options) are often misrepresented in financial internet communities as they’re usually boiled in the same pot as binary options.

We all remember the time when binary options were gaining traction to a point where every single broker was adding them to their …

EUR/USD Starts Week with Gains

August 12, 2019

EUR/USD started the week with gains. Monday’s session was quiet, without major events, and markets were driven largely by persisting concerns about the US-China trade conflict.

Treasury budget widened to $119.7 billion in July from $8.5 billion in June, matching forecasts. (Event A on the chart.)

On Friday, a report on …

Will EUR/USD Continue Its Recovery After This Symmetrical Triangle?

August 11, 2019 (Last updated on August 12, 2019)

EUR/USD is trading in a clear downtrend if we look at the long-term charts of this currency pair. However, its 4-hour chart shows another picture — a recovery rally topped with a symmetrical triangle, which is a likely continuation pattern.

The borders of the triangle are the yellow lines. The cyan line is the potential …

Forex Brokers Update — August 11th, 2019

August 11, 2019

One new broker has been added to the list of Forex brokers on our website this week:

EagleFX — a classic offshore MT4 broker with $10 minimum account size, 1:500 leverage, and a wide range of trading instruments to work with.

Updates have been made to some other companies:

GMO

Weekly Forex Technical Analysis (Aug 12 — Aug 16, 2019)

August 10, 2019

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0972 1.1037 1.1119 1.1184 1.1265 1.1331 1.1412

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1041 1.1126 1.1188 1.1273

EUR/USD Declines After Attempting to Rally

August 8, 2019

EUR/USD attempted to rally but failed and is now trading below the opening level. There were just a couple of reports released in the United States today, none of which were particularly important, therefore US data was not the reason for the volatile moves of the currency pair.

Initial jobless claims fell to the seasonally …

My sRs Trend Rider 2.0 Test and Review

July 23, 2019

Disclaimer: I have received a free copy of sRs Trend Rider 2.0 for review, but I am in no way affiliated with Vladimir Ribakov.

sRs Trend Rider 2.0 is a trading system, which includes a set of expert advisors and indicators as well as an explanatory ebook. The main purpose of sRs Trend Rider 2.0 …

Switch ATR Timeframes and Move SL/TP Lines Freely in New PSC

July 8, 2019

Version 2.22 of Position Size Calculator fixes two minor bugs and introduces three cool new features:

You can set the input parameter UseCommissionToSetTPDistance to true and then the Take-profit button will use the entered commission when calculating the TP line location:

If you leave …

[Poll] What Is the Best Way to Backtest?

March 4, 2019

If you want to be sure that your strategy can yield better results than you would attain by simply buying and selling randomly, you need to test it. There are two ways of doing it: backtesting (when you use past data to see how the strategy …

PSC Now Supports ATR SL/TP and Reverse Risk Calculation

February 27, 2019

Apart from some bugfixes, the version 2.18 of Position Size Calculator contains three new features:

    ATR-based stop-loss and take-profit are now a thing. If you prefer to set your SL/TP by the multiples of the Average True Range indicator, you can now do so automatically with

Ignore or Append Saturday/Sunday Hours in Market Profile

December 24, 2018

The new version of Market Profile, which has been released just now, implements two new major changes and two minor ones.

The first major change is that you can now control how the indicator processes Saturday and Sunday candlesticks. Before the update, it would try …

PSC Gets Ready for Volumes with 8 Decimal Places in Crypto

November 6, 2018 2 Comments

With ampler layout and lots of bugs squashed, version 2.15 of Position Size Calculator together with version 1.06 of PSC-Trader have been released today. The main goal of this update was to fix as many errors and inconsistencies in calculation and display as possible. The second goal was to add some of the requested …

New Market Profile Indicator — Focus on Stability and Performance

May 28, 2018

Upon receiving quite a lot of feedback and suggestions on further improvement of the Market Profile indicator, I have finally managed to prepare the new version — 1.08. The latest build is now more robust than ever:

    Smart color calculation prevents “overflows”, making the color of the profile’s blocks change smoothly and gradually.

New Position Size Calculator: SL and TP Which Follow Entry Line and Are Set in Pips

May 18, 2018

The newest version (2.14) the Position Size Calculator indicator, which is released today, introduces a new way to set stop-loss and take-profit for your potential trade setups. You can set the new input parameters UseFixedSLDistance and UseFixedTPDistance to true to turn this new mode on:

The example …

Display Market Profile for Intraday Sessions in MetaTrader

February 6, 2018

Two years ago, I have added the capability for a Market Profile indicator to work with weekly and monthly trading sessions. One of the members of our Forum suggested adding customizable intraday sessions to Market Profile. Considering the fact that quite a few Forex traders use Market Profile for analysis, …

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