Forex Blog

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


EUR/USD Rallies as Optimism for Trump’s Tax Reforms Wains

February 23, 2017

EUR/USD rallied today for the second day in a row. The current trading session was light on economic data, therefore it was not the reason for the rally. The likely reason was the comments from US Treasury Secretary Steven Mnuchin about the planned tax cuts and other reforms. US President Donald Trump

EUR/USD Accelerates Bounce After FOMC Minutes

February 22, 2017 (Last updated on February 23, 2017)

EUR/USD fell intraday during the Wednesday’s trading session but bounced later due to subsiding concerns about the outcome of the French presidential elections and positive macroeconomic data from the eurozone. The Federal Open Market Committee released hawkish minutes of its January-February policy meeting, yet the currency pair reacted to that …

EUR/USD Slides amid Fed Tightening Talks

February 21, 2017

EUR/USD slipped today amid talks about monetary tightening from the Federal Reserve. Philadelphia Fed President Patrick Harker said today that he “would not take March off the table.” Such comments allowed the dollar to rally even though today’s US economic data was …

GBP/JPY — Another Pound Pair Consolidates in Symmetrical Triangle

February 19, 2017

I have already written about a symmetrical triangle on GBP/CHF weekly chart 2 weeks ago. Today, you can see a similar pattern but with a different trend direction on the daily chart of the pound/yen pair. This consolidation finishes off the uptrend that lasted from October through mid-December and offers …

Forex Brokers Update — February 19th, 2017

February 19, 2017

One new Forex trading company has been added to the list of brokers at during the week:

TryMarkets — a brand new offshore Forex broker registered in Belize but with offices in the UAE and the UK. It is a generic MT4 brokerage with rather low fixed spreads on currency pairs.

Some …

Weekly Forex Technical Analysis (Feb 20 — Feb 24)

February 18, 2017 1 Comment


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0367 1.0444 1.0525 1.0602 1.0683 1.0760 1.0841

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0445 1.0527 1.0603 1.0685

Upgrading Easy Trend Visualizer

February 17, 2017

Easy Trend Visualizer is a really old indicator. I have first uploaded to back in July 2009 and converted it to MT5 in December that year. Today, I introduced some changes to this trend indicator.

First, the MT4 version has been rewritten completely and should be more …

Dollar Finds No Solace in Positive Macroeconomic Data

February 16, 2017

EUR/USD rose for the second consecutive session today even though fundamentals were positive for the US dollar. Economic data released from the United States over the current trading session was very solid for the most part. Additionally, US policy makers, who spoke this week, were rather hawkish. That …

EUR/USD Bounces as US Data Turns from Positive to Negative

February 15, 2017 (Last updated on February 16, 2017)

EUR/USD dipped intraday on Wednesday but bounced to trade above the opening level later. Moves of the currency pair had a correlation with US economic data. Initially, reports were rather good, boosting the dollar, but the ones released later failed to meet expectations, sending the greenback lower.

CPI demonstrated exactly …

Implementing My Long-Term Dollar Trade with USD/CHF Sell

February 14, 2017 2 Comments

If you remember my June post about the long-term future of the US dollar, you know that I am bearish on the USD for the coming months based on a set of fundamental reasons. And the optimal way of trading this sentiment is going short USD/CHF. Today, I am going to set up the stop order …

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 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) 5 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 …

See Currency Rate Change in Percents on Your Chart

June 13, 2016 1 Comment

Daily Percentage Change is the latest addition to the list of free MT4/MT5 indicators I share on It is loosely based on this MT4 indicator. The main advantage of such an indicator is that it can be used in price action trading to get the understanding of the current session’s direction …

MetaTrader Templates Tutorial — Copying Settings Between Charts and Platforms

May 20, 2016 (Last updated on January 29, 2017) 4 Comments

You might already know how to copy input parameters for a single indicator across different charts and platforms. You also might have mastered the power of copying the whole account profiles from one MetaTrader instance to another. However, sometimes, what you need is just to copy one chart — …

Will Hedging and Real Ticks Backtesting Sway You Toward MT5?

May 9, 2016 1 Comment

In March, MetaQuotes had launched a public beta of MetaTrader 5 platform with position hedging and backtesting on real ticks. In April, the developer had pushed the modification to brokers’ demo servers. The companies can disable creation of hedging accounts in MT5 (which they mostly do). However, the feature is already there and soon …

How to Add Alerts to MetaTrader Indicators

March 22, 2016 (Last updated on December 21, 2016) 19 Comments

Originally, I intended this post as a do-it-yourself guide on how to add alerts to MetaTrader indicators without knowing how to code at all. But writing it, I came to realization that even if a trader knows nothing about MQL language and coding he will have to learn some basics through this guide …

Display Weekly and Monthly Market Profile in MetaTrader

January 25, 2016

After introducing the MetaTrader Market Profile indicator back in 2010, today I have finally updated both the MT4 and MT5 versions to work with weekly and monthly trading sessions in addition to the daily ones. Also, I have improved its functionality and fixed a number of bugs:

    Color scheme selection is now