Forex Blog

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


Forex Brokers Update — October 23rd, 2016

October 23, 2016

With no new brokers this week, there are some updates to the existing listings worth reporting on:

Windsor Brokers no longer have Russian, Chinese, and Greek versions of their website. Added Polish version instead.

Forex Club no longer offers RUMUS and StartFX 2 trading platforms. …

Weekly Forex Technical Analysis (Oct 24 — Oct 28)

October 22, 2016


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0629 1.0744 1.0809 1.0924 1.0989 1.1104 1.1168

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0731 1.0784 1.0911 1.0964

One-Hour Trade Insurance from easyMarkets

October 21, 2016

Three weeks, a representative from easyMarkets contacted me to ask if I would be interested to test their new intriguing feature called dealCancellation. They provided me with a free live account with $200 in it to explore this trading tool. This week, I have finally got some …

Jobless Data Shakes EUR/USD, Housing Data Lets Dollar Appreciate

October 20, 2016

EUR/USD posted a significant intraday spike following a disappointing weekly US jobless data report combined with a mixed sentiment indicator. The currency pair rebounded during the next 15 minutes and went into a downtrend for 2 hours more, spurred by the better-than-expected housing data from the United States.

Initial jobless claims

For Second Day EUR/USD Fails to Rally

October 19, 2016

Today, EUR/USD demonstrated basically the same performance as yesterday — rising intraday but failing to keep gains and retreating below the opening level. Economic data hardly had any impact on the moves of the currency pair as there were no reports from the eurozone while US indicators were mixed and gave the dollar no …

EUR/USD Fails to Keep Gains, Falls Below Opening Level

October 18, 2016 (Last updated on October 19, 2016)

EUR/USD attempted to rally after data showed that core inflation was below expectations (0.1% actual versus 0.2% forecast) but failed to maintain upward momentum and slipped below the opening level. Speculators continue to bet on an interest rate hike from the Federal Reserve in December, and that is likely …

EUR/USD Edges Higher as US Data Disappoints Ahead of ECB Meeting

October 17, 2016

There were few US economic reports scheduled for the current trading session, but the ones that were released were disappointing, failing to reach market expectations. This allowed EUR/USD to edge higher today. One of the most important events this week should be the monetary policy meeting of the European

Forex Brokers Update — October 15th, 2016

October 15, 2016

Two new companies have been listed during the first two weeks of October:

CIBFX — an offshore broker (Vanuatu) with MT4 platform and a great number of markets available for trading. Accounts start at $50.

Formax — an FCA-regulated Forex broker with MT4 platform and ECN only account types. Their …

Weekly Forex Technical Analysis (Oct 17 — Oct 21)

October 15, 2016


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0660 1.0815 1.0893 1.1048 1.1126 1.1281 1.1359

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0796 1.0855 1.1029 1.1088

EUR/USD Drops on US Data, Fails to Rebound

October 14, 2016

EUR/USD dropped today after a bunch of positive economic reports from the United States reinforced investors’ belief that the Federal Reserve is going to hike its interest rates in December. The currency pair made an attempt to rebound after the consumer confidence report showed an unexpected drop, but the bounce was …

MT4Forex bookchart patternsForex pollinfographicstutorialMetaTrader script

Major Fixing of Position Size Calculator + Symbol Leverage Display

September 20, 2016

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 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

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

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 March 23, 2016) 3 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

Another Expert Advisor to Trade the News

December 24, 2015

A way to celebrate Christmas and the New Year for me is to share something with other traders. Years ago, I have uploaded Amazing EA for MT4 that was coded by someone calling himself FiFtHeLeMeNt. Five years ago, I have converted it to MT5. That expert advisor is rather bulky …

Schaff Trend Cycle Converted for cTrader (+ Alerts)

December 18, 2015

Four years ago, I have converted Schaff Trend Cycle (STC) for MetaTrader (MT4 and MT5) and uploaded it to In March 2014, I also shared an MT4 version with limited alerts capability. Starting from today, you can get a free Schaff Trend Cycle indicator for cTrader. Also, …

Pips Display in Position Size Calculator Indicator

November 30, 2015 2 Comments

I am releasing a new version of Position Size Calculator indicator today. The main new feature is the display of pips distance for stop-loss and take-profit below the respective lines on the chart. It is turned on by default, so you will need to set ShowLineLabels to false if you do not …