Forex Blog

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


EUR/USD Sinks After European PMIs

April 18, 2019

EUR/USD sank today following the releases of European Purchasing Managers’ Indices by Markit. While they were not completely negative, showing a mix of good and bad results, the currency pair did not respond well to the reports. US PMIs, on the other hand, were unquestionably disappointing, but that did not help …

EUR/USD Rallies Intraday, Trims Gains Later

April 17, 2019

EUR/USD rallied intraday but has trimmed its gains later. US macroeconomic data beat expectations, adding to the downside momentum of the currency pair.

US trade balance deficit shrank to $49.4 billion in February, down from $51.1 billion in January. That is instead of rising to $53.5 billion …

EUR/USD Settles Flat After Rising Earlier

April 15, 2019

EUR/USD rallied on Monday but lost its gains later and settled near the opening level. Trading was relatively quiet, with absence of any major events.

NY Empire State Index climbed to 10.1 in April from 3.7 in March. Analysts had predicted a smaller increase to 8.1. (Event A on the chart.)…

Weekly Forex Technical Analysis (Apr 15 — Apr 19, 2019)

April 13, 2019


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1118 1.1164 1.1231 1.1277 1.1344 1.1391 1.1458

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1169 1.1241 1.1282 1.1355

EUR/USD Retreats, Erasing Earlier Rally

April 12, 2019

EUR/USD rallied intraday but failed to keep gains and is now trading slightly below the opening level. The worse-than-expected US consumer sentiment did not stop the decline.

US import and export prices rose in March. Import prices rose 0.6% following the revised 1.0% increase in February (0.6% before the revision). …

EUR/USD Declines, US Data Weighs

April 11, 2019

EUR/USD declined today. While the currency pair had started falling before US macroeconomic releases, the positive US economic data added to the downward momentum of the pair.

PPI rose 0.6% in March, seasonally adjusted, accelerating from the February’s 0.1% rate of growth and beating the average forecast of a 0.3% increase. (Event A on the chart.)…

EUR/USD Settles Slightly Higher Despite ECB & FOMC

April 10, 2019 (Last updated on April 11, 2019)

Two events should have had a big impact on the EUR/USD currency pair on Wednesday — the monetary policy meeting of the European Central Bank (event A on the chart) and the monetary policy minutes of the Federal Open Market Committee. Yet surprisingly, the pair settled a little higher despite both events turning out …

Weekly Forex Technical Analysis (Apr 8 — Apr 12, 2019)

April 6, 2019


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1110 1.1147 1.1181 1.1218 1.1252 1.1289 1.1323

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1146 1.1180 1.1217 1.1251

EUR/USD Volatile After NFP, Ends Losing Gains

April 5, 2019

EUR/USD was extremely volatile after the release of US nonfarm payrolls today. Initially, the currency pair attempted to rally but failed to hold onto gains and was trading slightly below the opening by the session’s end.

Nonfarm payrolls showed a growth of employment by 196k in March, which exceeded the average forecast of 172k. The February …

EUR/USD Gains on Positive Market Sentiment, Ignores US Data

April 3, 2019

EUR/USD rallied on the positive market sentiment caused by the optimistic outlook for the Sino-US trade talks. Currently though, the currency pair has trimmed its gains. While the EUR/USD pair attempted to gain on poor US macroeconomic releases, the attempts failed and the pair continued to move lower, though remained above the opening level.


[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

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 …