Forex Blog

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

Archives

Weekly Forex Technical Analysis (Sep 24 — Sep 28)

September 22, 2018

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1462 1.1540 1.1647 1.1725 1.1832 1.1909 1.2016

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1547 1.1661 1.1732 1.1846

EUR/USD Rallies, Keeps Gains After Positive US Macroeconomic Releases

September 20, 2018 (Last updated on September 21, 2018)

EUR/USD was rising during the Thursday’s trading session. While the currency has halted its rise following the release of mostly positive macroeconomic data in the United States, it managed to keep most of its gains.

Philly Fed manufacturing index climbed from 11.9 to 22.9 in September, above the average …

EUR/USD Attempts to Hold onto Gains as US Yields Surge

September 19, 2018

EUR/USD attempted to rally today but retreated as yields for 10-year US treasuries surged, breaking the 3% level this week, and today’s macroeconomic data released from the United States was mostly good. The currency pair was still hanging above the opening level.

Housing starts were at the seasonally adjusted annual …

EUR/USD Backs Off After US-China Trade Tensions Escalate

September 18, 2018

EUR/USD attempted to rally today but failed as trade tensions between the United State and China escalated. Macroeconomic data had little impact on the currency pair as there were very few reports released at the start of the week.

Net foreign purchases were at $74.8 billion in July. That is …

AUD/NZD in Ascending Channel Since February

September 16, 2018

I have last traded an ascending channel pattern back in June of 2017 and it was a major success. The formation on the AUD/NZD daily chart looks solid enough to warrant a new trade setup.

The yellow lines on the chart screenshot below mark the channel itself. The cyan line shows the position of my entry order. It …

GBP/CHF Is Ready to Switch to Uptrend with Help of Bullish Pennant

September 16, 2018 (Last updated on September 18, 2018)

The daily chart of the GBP/CHF currency pair is showing a classic version of a well-formed bullish pennant pattern. It appears exactly at the bottom (as of now) of a major downtrend, which lasts since mid-April. Luckily, a pennant can be traded irrespective of the preceding trend.

On the image below, you can see the pattern marked with …

Forex Brokers Update — September 16th, 2018

September 16, 2018

No new companies have been added to the list of brokers since the end of August, but we have had some updates to the existing listings:

RoboForex increased the maximum leverage offered on cryptocurrencies to 1:50.

Fullerton Markets has shifted its business from under New Zealand regulated Fullerton Markets Limited …

Weekly Forex Technical Analysis (Sep 17 — Sep 21)

September 15, 2018

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1329 1.1427 1.1525 1.1623 1.1720 1.1819 1.1916

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1427 1.1524 1.1623 1.1720

EUR/USD Retreats After US Macroeconomic Releases

September 14, 2018

EUR/USD attempted to rally today but reversed its upward movement at 8:00 GMT and accelerated decline after the release of macroeconomic reports from the United States. That was surprising considering that many of them, while not being outright negative, missed expectations. Some market analysts explained the decline by cooling …

EUR/USD Jumps After US Inflation Misses Expectations

September 13, 2018

EUR/USD rose sharply today after the US inflation report came out worse than was expected. The miss was not big, but it was enough to propel the currency pair higher.

CPI rose 0.2% in August, the same as in July. Analysts had expected a bit bigger increase by 0.3%. (Event …

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 …

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 (Last updated on January 25, 2018) 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) 7 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 …