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Weekly Forex Technical Analysis (Dec 16 — Dec 20, 2019)

December 14, 2019

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0901 1.0977 1.1047 1.1123 1.1193 1.1269 1.1339

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0976 1.1044 1.1122 1.1190

EUR/USD Rallies, Retreats Later amid Confusing News

December 13, 2019

EUR/USD was volatile today, rising at the start of Friday’s trading, moving sideways for the most of trading session, but losing almost all of its gains by now. The currency pair got a boost on the convincing victory of the Conservative Party in the UK election that should pave way for orderly Brexit. There were also …

EUR/USD Keeps Gains After ECB, US Data

December 12, 2019 1 Comment

EUR/USD was moving in a range following yesterday’s sharp rally and is currently trading above the opening level. The European Central Bank did not provide surprises today, keeping interest rates unchanged and the outlook for monetary policy broadly the same. (Event A on the chart.) Meanwhile, both US macroeconomic indicators released …

EUR/USD Climbs After FOMC Signals About No Rate Changes in 2020

December 11, 2019

EUR/USD surged today following the monetary policy meeting of the Federal Open Market Committee. The FOMC left interest rates unchanged and signaled that it is not planning to make changes to the monetary policy in 2020. That was positive news to the dollar. Yet the greenback crashed against the euro nonetheless. The likely reason …

Forex Brokers Update — December 8th, 2019

December 8, 2019

This week saw no new additions to the list of Forex brokers at our website, but we have updated the listings of some companies during the period:

FXOpen added MetaTrader 5 platform support for its UK-based ECN trading accounts.

Vantage FX has made its website available also in Arabic, …

Weekly Forex Technical Analysis (Dec 9 — Dec 13, 2019)

December 7, 2019

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0890 1.0946 1.1003 1.1060 1.1116 1.1173 1.1229

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0946 1.1003 1.1060 1.1116

EUR/USD Sinks After Nonfarm Payrolls

December 6, 2019

EUR/USD crashed today after the release of US nonfarm payrolls. The currency pair continued to move down as other reports released over the rest of the trading session were good as well. The pair trimmed its losses by the end of trading but still ended Friday with big losses. Nevertheless, EUR/USD ended the week …

EUR/USD Rallies Despite Positive US Data

December 5, 2019

EUR/USD rallied today despite reports released in the United States today were all positive. Market analysts speculated that yesterday’s negative data was still weighing on the dollar.

Trade balance deficit shrank to $47.2 billion in October down from $51.1 billion in September, revised ($52.5 billion before …

EUR/USD Surges on ADP Employment Miss, Loses Gains Later

December 4, 2019

EUR/USD surged today following the unexpectedly poor US employment report from Automatic Data Processing. By now though, the currency pair has lost its gains and is trading below the opening level.

ADP employment rose by meager 67k in November, far less than analysts had predicted …

[Poll] Best Way to Recover from a Major Failure in Forex

December 2, 2019 1 Comment

Asking traders about their losses due to minor accidental mistakes revealed that quite a lot of them lose hefty amounts of money. This would qualify as a major failure in my view. It is always difficult, both psychologically and economically, to recover from such failures. Exasperating the situation is that many …

New Indicator to Trade Price Action — Basing Candlesticks

December 2, 2019

Quite some time ago, one of our forum members asked for an indicator to detect basing candles in MetaTrader. Today I present a new free indicator both for MT4 and MT5 — Basing Candlesticks.

It is a minimalistic indicator that compares the body size of the candle against its high-low range and, …

Color Market Profile Based on Bullish/Bearish Bars

October 18, 2019

Our Market Profile indicator has received another major update today — version 1.13 implements the following changes:

Market Profile blocks (TPO’s) can now be colored according to whether the original bar is bullish or bearish in contrast to the bar being older or newer. This might be useful to quickly …

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 2 Comments

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 …