Forex Blog

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


EUR/USD Jumps Following NFP Release, Retreats Immediately

December 2, 2016

US nonfarm payrolls released today were very mixed, resulting in volatile trading on the Forex market. EUR/USD jumped after the release but backed off immediately to trade below the opening level as of now.

Nonfarm payrolls rose 178k in November, in line with expectations. But the October gain was revised negatively …

EUR/USD Manages to Rally Despite Mostly Positive Economic Data from USA

December 1, 2016

US economic data released today was good for the most part, with the exception of unexpectedly rising jobless claims. Yet that did not help the dollar to hold its ground versus the euro. EUR/USD was rising during the current trading session, and while the currency pair pulled back intraday, it …

EUR/USD Falls After Wednesday’s Economic Data from USA

November 30, 2016

EUR/USD fell today after the release of US economic data. While some indicators trailed expectations, the data was good for the most part. The most notable report was private employment data from Automatic Data Processing, which turned out to be much better than forecasts.

ADP employment demonstrated …

EUR/USD Drops, Attempts to Bounce After US Data

November 29, 2016

EUR/USD fell today but has started a rebound after the release of US economic data. While the housing report missed expectations, the GDP and consumer confidence indicators were far better than expected. Yet European reports were good as well, helping the euro to stand its ground against the US dollar, …

Forex Brokers Update — November 27th, 2016

November 27, 2016

Two new companies have been added to the list of Forex brokers this week:

TegasFX — an offshore broker (Vanuatu) with MT4 and FIX API trading accounts. The minimum is $200 for MT4 and $20,000 for FIX. Leverage can be as high as 1:200.

CFDTimes — another unregulated offshore broker (St. …

Weekly Forex Technical Analysis (Nov 28 — Dec 2)

November 26, 2016


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0371 1.0444 1.0511 1.0584 1.0651 1.0724 1.0791

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0442 1.0507 1.0582 1.0647

EUR/USD Rebounds on Black Friday

November 25, 2016

EUR/USD was rising today, though it has retreated from its highs by now. Most analysts believe that fundamentals remain strongly supportive to the dollar, and the currency’s retreat today was just a result of traders booking profits during the shortened trading week.

Preliminary wholesale inventories fell 0.4% in October, …

EUR/USD Declines as Dollar Supported by Fundamentals

November 23, 2016

The US dollar continued to strengthen against the euro today as the greenback received some support from improving macroeconomic indicators.

Durable goods orders added 4.8% in October following 0.4% increase in September (revised positively from 0.1% loss). Market analysts pointed at 1.7% increase for October. (Event A on the chart.)

Initial jobless

Positive US Data Prevents EUR/USD from Rising Further

November 22, 2016

EUR/USD halted its long decline and rose on Monday but was unable to extend the rise on Tuesday. The currency pair lost its upward momentum as economic data released from the United States over the trading session was good and exceeded analysts’ expectations, providing support to the dollar.

Richmond Fed manufacturing index

Applying Forex Trading Knowledge in Other Areas?

November 21, 2016

At a first glance, online Forex trading seems to be a very specialized kind of activity with a narrow skill-set and limited area of knowledge. In reality, the list of skills and number of expertise fields that every successful trader acquires can be astounding. Moreover, it usually is unique to each trader as the trading style …

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

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 2 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 November 25, 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, …