Forex Blog

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


EUR/USD Falls on Thursday, Doesn’t Heed US Macro Releases

March 4, 2021

EUR/USD fell today, extending yesterday’s drop. The currency pair did not show a strong reaction to US macroeconomic releases that came out during the trading session.

Nonfarm productivity dropped by 4.2% in Q4 2020. That is compared with the median forecast of a 4.7% drop and the previous month’s decline …

EUR/USD Falls Despite Worse-than-Expected US Employment, Trims Losses After Mixed Services Data

March 3, 2021

EUR/USD attempted to rally intraday but failed and fell below the opening level. The currency pair was trading sideways after data showed that last month’s growth of US employment was just half of what was expected. The pair bounced a little after the release of contradicting reports on the US services sector.…

EUR/USD Starts March with Losses

March 1, 2021

EUR/USD started the first trading day of the month rising a bit and then trading sideways. But the currency pair slipped below the opening level later before continuing its sideways movement. The EUR/USD pair fell even though the dollar was under pressure from the rally in global stocks. Some market analysts …

Do You Use Push/Email/Screen Alerts for Indicators?

March 1, 2021

I asked this blog’s readers a similar question 8 years, but back then, we only had just several indicators with alerts available for download and none of them supported push-notifications to mobile devices. Since then, enabled all sorts of alerts on nearly all of our indicators …

EUR/USD Might Continue Its Way Down Following Ascending Channel Breakout

February 28, 2021 (Last updated on March 3, 2021)

Last week, I posted a bullish flag pattern on the long-term weekly timeframe of EUR/USD. Even though today’s ascending channel on the daily chart seems to contradict the previous formation, in fact, it serves to reinforce it as the current trade setup (if triggered) will play out entirely inside the flag’s consolidation area.…

Forex Brokers Update — February 28th, 2021

February 28, 2021

One new broker has been added to the lists on this week:

Moneta Markets — a new offshore Forex broker (launched in 2020) with multi-platform offering and up to 1:500 leverage on traditional currency pairs.

Meanwhile, other brokers have been updated:

Weekly Forex Technical Analysis (Mar 1 — Mar 5, 2021)

February 27, 2021


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1828 1.1945 1.2009 1.2126 1.2190 1.2307 1.2371

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1932 1.1982 1.2113 1.2163

EUR/USD Erases Week’s Gains on Friday

February 26, 2021

EUR/USD sank today, erasing all of the gains it had managed to acquire during the rest of the week. Some market analysts explained the move by the weakness of global stocks that drove traders towards the safety of the dollar. As for US data, it was largely underwhelming, with the exception of personal income and PCE inflation.


EUR/USD Trades Sideways After Strong Rally

February 25, 2021

EUR/USD demonstrated a strong rally today, though at the time of writing the pair has been trading sideways. US macroeconomic reports released over the trading session were mixed, with some of them coming out better than expected while others were disappointing.

US GDP rose by 4.1% in Q4

EUR/USD Moves Sideways in Directionless Trade

February 24, 2021

EUR/USD has been trading without a clear direction over Wednesday. There were just a couple of US macroeconomic reports released today, and markets were paying attention mostly to the testimony of Federal Reserve Chairman Jerome Powell.

New home sales were at a seasonally adjusted annual rate of 923k …

MetaTrader Historical Data Importing and Converting Tutorial for Quality Backtesting

January 13, 2021 84 Comments

Update 2021-01-13: This tutorial has been updated to provide accurate information regarding 90% vs 99.9% modelling quality and to present a simpler method of getting quality historical data in your MT4 platform.

Backtesting MetaTrader expert advisors on historical data is a good way to test a strategy. But testing on the default …

Right Side Histogram Display for Market Profile Indicator

December 7, 2020

Another feature update of the Market Profile indicator has been released today. There are three main big changes in the new version of the indicator:

Right-hand drawing of the market profile histogram is now available. To enable it, you have to set RightToLeft input to true. For all trading …

PSC Update — Stop-Limit Orders and Script Confirmation Window

November 18, 2020 5 Comments

With no updates in almost 6 months, it is time to announce the latest version of Position Size Calculator — 2.32. It includes 24 changes to this MetaTrader indicator. The most exciting upgrades are listed below for your information:

    Stop-limit orders are now supported in MetaTrader 5

MT4/MT5 Indicator to Plot TD Sequential Setup, Countdown, and Support/Resistance Levels

September 8, 2020 (Last updated on November 30, 2020) 2 Comments

If you ever wanted to trade using Tom DeMark’s TD Sequential methods on a MetaTrader broker but found the currently available indicators lacking, you will be delighted to get hold of my latest creation — TD Sequential Ultimate. It is a free open-source indicator available for MetaTrader 4 and MetaTrader …

Basic Scheduling EA for MetaTrader

August 11, 2020 3 Comments

Have you ever wanted to set up a schedule for your MetaTrader platform to turn off AutoTrading at a given day and time and then re-enable it at some other day and time? Me neither! But I am quite sure there are many people who need something like that. AutoTrading Scheduler

Control Panel for Price Alert Indicator in MT4/MT5

July 20, 2020

Price Alert indicator has got a complete overhaul today and is now equipped with a small but very functional panel. You can use it to set price levels, enable and disable alert types, and quickly remove the indicator. Push-notification alerts are now supported by the indicator. Additionally, input

Arbitrary Rectangle Sessions with Market Profile Indicator

July 14, 2020

Today a new version of Market Profile indicator for MetaTrader 4 and 5 has been released. There are three main additions to the indicator this time:

The biggest one is the rectangle sessions. They are enabled by setting the Session input parameter to Rectangle and adding any …

Divide Your Position into Multiple Trades with Several Take-Profit Levels with New Position Size Calculator

May 29, 2020 4 Comments

Another major release of Position Size Calculator is out today — version 2.29. Its biggest highlight is the possibility to create multiple trades based on a single calculated position size by launching the PSC-Trader script (which also got updated to version 1.08). The list of changes is available below:


Account Protector Gets New Conditions, Actions, and Control

April 17, 2020

Our Account Protector is a powerful expert advisor, but not in the sense it is often understood by online Forex traders. It doesn’t trade for you by opening buy or sell positions automatically. Account Protector manages your trading account’s risk by enabling you to select a set of actions to trigger when …

Highly Customizable Indicator to Trade Round Numbers

March 18, 2020 4 Comments

Trading off round numbers is a rather popular technique in Forex and other financial markets. Although round price levels rarely hold any meaningful fundamental value, they provide solid psychological points of reference to human traders. This makes them quite effective when trading psychology-dominated markets. That …