Forex Blog

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


Forex Brokers Update — November 9th, 2019

November 10, 2019

Although there were no new Forex broker listings for the week ending today, several brokers have got updates to their descriptions: added paysafecard and Yandex.Money payment options.

CFDTimes lowered minimum account size to $5, raising the spreads a little for all of its account types.

CapitalXP no longer …

Weekly Forex Technical Analysis (Nov 11 — Nov 15, 2019)

November 9, 2019


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0807 1.0912 1.0965 1.1070 1.1124 1.1229 1.1283

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0899 1.0940 1.1057 1.1098

EUR/USD Falls for Fifth Day of Week

November 8, 2019

EUR/USD extended its decline today, falling every single day of the week. The dollar continued to get support from signs that the United States and China are nearing to a trade deal, while a strong rally in Treasury yields added further support to the greenback.

Michigan Sentiment Index rose slightly to 95.7 in November …

EUR/USD Continues to Decline amid US-China Trade Talks Optimism

November 7, 2019

EUR/USD continued to decline today as traders felt optimistic about the US-China trade negotiations amid signs that the world’s two biggest economies are close to a deal. Currently, the pair has paused its decline and is moving sideways.

Initial jobless claims were at the seasonally adjusted level of 211k last

EUR/USD Backs Off After Rallying Intraday

November 6, 2019

EUR/USD rose intraday but has backed off by now as markets were choppy today, having trouble to find direction.

Nonfarm productivity fell 0.3% in Q3 2019 after rising 2.3% in Q2. That is instead of rising by 1.0% as analysts predicted. (Event A on the chart.)

US crude oil inventories climbed …

EUR/USD to End Its October Correction with Double Top Reversal?

November 6, 2019 (Last updated on November 7, 2019)

EUR/USD has formed a classical example of a double top pattern on its daily chart. It had started on about October 17 and had finished its development by November 5. The double top caps the corrective wave that had started back on October 1 inside a larger long-term downtrend experienced by the euro …

EUR/USD Declines on US-China Trade Optimism

November 5, 2019

EUR/USD declined today. One of the possible reasons for the fall was optimism about the US-China trade talks. The currency pair extended the decline after the release of US manufacturing indicators even though the data was mixed. Currently, the pair moves sideways.

US trade balance deficit was at $52.5 billion in September

Who Regulates Your Forex Broker?

November 4, 2019

Forex regulation is a hot topic among traders and when it comes to a discussion about whether to prefer a regulated or an unregulated broker, the word battles get especially bloody. Proponents of unregulated brokers are usually fond of unrestricted trading conditions (mainly, high leverage) and lower spreads

Non-Standard Bullish Pennant on GBP/CHF Daily Chart

November 3, 2019

The bullish pennant pattern that has formed on the daily timeframe of GBP/CHF chart doesn’t look like a classical example of a bullish pennant. The pole of the pattern consists of several candles and lasts for almost as long as the pennant part. I believe that this doesn’t invalidate the trade setup offered by this formation. More important to me …

Forex Brokers Update — November 2nd, 2019

November 3, 2019

One new broker has made it into our lists during the last week:

PrimeXBT — an offshore company with focus on cryptocurrency trading but with an ample offer in margin Forex trading as well. It is one of the few brokers that offer BTC-denominated accounts.

Some other brokers …

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 …

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, …