Forex Blog

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


Weekly Forex Technical Analysis (Oct 26 — Oct 30, 2020)

October 24, 2020


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1571 1.1637 1.1748 1.1814 1.1926 1.1992 1.2104

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1648 1.1771 1.1826 1.1949

EUR/USD Heads to Weekly Gain

October 23, 2020

EUR/USD rose today, heading to a weekly gain. Some market analysts explained the weakness of the US dollar by the rally in global stock markets, which made the greenback less attractive in its role as a safe haven. PMIs released for the United States today were good but that was not enough to support the US …

EUR/USD Falls as Traders Wait for Outcome of US Stimulus Talks

October 22, 2020

EUR/USD fell today after rising every single session this week. Some market analysts speculated that better-than-expected US jobs data helped the dollar to gain on the euro. But the currency pair actually bounced after the release, though the rebound was short-lived.

Initial jobless claims were at a seasonally adjusted …

EUR/USD Rises as Traders Bet on US Stimulus

October 21, 2020

EUR/USD rose today, meaning that it was advancing every single day this week for far. Most market analysts speculated that the weakness of the dollar was the result of hopes that US politicians will be able to agree on a stimulus package after all. Some argued, though, that another …

Forex Brokers Update — October 18h, 2020

October 18, 2020

We have listed a new brokerage company this week:

SmartFX — an offshore broker registered in Vanuatu, offering MetaTrader 5 trading platform and up to 1:400 leverage.

And we have also updated some of the listed brokers during the same time:

    Tickmill no longer accepts deposits via SOFORT or paysafecard.

Weekly Forex Technical Analysis (Oct 19 — Oct 23, 2020)

October 17, 2020


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1522 1.1605 1.1661 1.1744 1.1799 1.1882 1.1937

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1598 1.1647 1.1737 1.1785

EUR/USD Rises, Pares Gains After US Data

October 16, 2020

EUR/USD was rising during Friday’s trading session but has pared gains after the release of better-than-expected US macroeconomic reports, specifically retail sales and the University of Michigan consumer sentiment index. The currency pair ended trading just slightly above the opening level.

Retail sales climbed by 1.9% in September, …

EUR/USD Falls as Risk Aversion Grips Market

October 15, 2020

EUR/USD fell today. Market analysts explained the drop by risk aversion caused by waning hopes that US politicians will be able to agree on a relief package before the presidential election. The threat of the second wave of the COVID-19 pandemic was also bothering market participants.

Philadelphia Fed manufacturing index climbed from …

EUR/USD Logs Small Gains on Stimulus Hopes

October 14, 2020

EUR/USD was moving sideways till about 9:00 GMT today but was rising since then. Market analysts explained the rally by hopes that US politicians will be able to reach an agreement on a COVID-19 relief package. The rally was limited, though, and has stalled after the release of a better-than-expected US Producer …

Forex Brokers Update — October 11th, 2020

October 11, 2020

Only a handful of brokers have been updated this week:

Swiss Markets added a Russian language version of their website.

PrimeXBT added more cryptocurrency pairs for trading: ETH/USD, LTC/USD, XRP/USD, and EOS/USD.

SquaredFinancial (ex-SquaredDirect) launched Spanish, Arabic, and Chinese websites. Accounts can now be denominated also in Great …

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

September 8, 2020

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

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 …

Most Trending Currency Pairs in Forex + TrendStats Script

February 17, 2020 2 Comments

Quite some time has passed since I published my last post on the Forex pairs that trend the most. A lot of stuff has changed since then and because a lot of readers have asked me to post an update, I am finally doing it today. But not only that, I am …

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 …