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EUR/USD Drops on Positive US Reports, Recovers Later

January 28, 2020

EUR/USD fell intraday on mostly positive US data but has rebounded by now.

Durable goods orders rose by 2.4% in December — two times the forecast increase of 1.2%. The indicator fell by 2.1% in the previous month. (Event A on the chart.)

S&P/Case-Shiller home price index rose by 2.6% in November, year-on-year, in line with forecasts …

Forex Brokers Update — January 26th, 2020

January 26, 2020

One new company has been added to our list of brokers this week:

AMP Global — a Forex company that is regulated in Europe (Cyprus) and in the USA (although authorized only for futures trading there) with MetaTrader 4 and 5 platforms. The minimum account size is just $100 and their …

Weekly Forex Technical Analysis (Jan 27 — Jan 31, 2020)

January 25, 2020

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0892 1.0956 1.0991 1.1054 1.1089 1.1153 1.1188

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0949 1.0976 1.1047 1.1075

EUR/USD Fails to Get Boost from Eurozone PMIs

January 24, 2020 (Last updated on January 25, 2020)

EUR/USD continued to decline today, failing to get a boost from eurozone mixed PMIs. US PMIs were mixed as well, but that did not prevent the dollar from gaining on the euro.

Flash US Markit manufacturing PMI fell to 51.7 in January from 52.4 in December, whereas analysts had …

EUR/USD Tumbles on Boring ECB, Fears of Coronavirus

January 23, 2020

EUR/USD declined today after the uninspiring monetary policy meeting of the European Central Bank, which failed to bolster the currency and turned out a non-event. Meanwhile, the dollar was getting help from fears of the spreading coronavirus, which originated in China. The greenback, being considered a safe currency, tends to profit …

Head-and-Shoulders Pattern to Top 4-Month Trend in EUR/USD?

January 19, 2020 (Last updated on January 20, 2020)

The current chart formation on the daily chart of the EUR/USD currency pair looks like an inclined head-and-shoulders pattern. It caps the minor uptrend, which is active since early October, 2019. As a head-and-shoulders is a reversal pattern, a confident breakout through the neckline could spur a bearish trend in EUR/USD here.

The inclined long …

Forex Brokers Update — January 19th, 2020

January 19, 2020

We had one new addition this week to the list of brokers — the first company added to our website this year:

Purple Trading — a regulated Forex broker based in Cyprus. It offers cTrader and MetaTrader 4 platforms and focuses on providing its traders with multiple proprietary analytical tools. This …

Weekly Forex Technical Analysis (Jan 20 — Jan 24, 2020)

January 18, 2020

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0973 1.1030 1.1059 1.1116 1.1146 1.1202 1.1232

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1023 1.1046 1.1109 1.1133

EUR/USD Declines During Friday’s Trading

January 17, 2020

EUR/USD was moving sideways at the start of Friday’s session but has started a decline at about 7:15 GMT and was falling since then. Several disappointing US macroeconomic indicators did not prevent the drop of the currency pair.

Housing starts were at a seasonally adjusted annual rate of 1.61 million in December, up …

EUR/USD Unable to Keep Gains After Positive US Reports

January 16, 2020

EUR/USD rose intraday but has lost its gains by now and is trading below the opening level. One of the possible reasons for the pair’s retreat was supportive US macroeconomic data. Among positive reports were core retail sales, which rallied by 0.7% last month versus the predicted increase of 0.5%.…

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 …

My sRs Trend Rider 2.0 Test and Review

July 23, 2019

Disclaimer: I have received a free copy of sRs Trend Rider 2.0 for review, but I am in no way affiliated with Vladimir Ribakov.

sRs Trend Rider 2.0 is a trading system, which includes a set of expert advisors and indicators as well as an explanatory ebook. The main purpose of sRs Trend Rider 2.0 …

Switch ATR Timeframes and Move SL/TP Lines Freely in New PSC

July 8, 2019 2 Comments

Version 2.22 of Position Size Calculator fixes two minor bugs and introduces three cool new features:

You can set the input parameter UseCommissionToSetTPDistance to true and then the Take-profit button will use the entered commission when calculating the TP line location:

If you leave …

[Poll] What Is the Best Way to Backtest?

March 4, 2019

If you want to be sure that your strategy can yield better results than you would attain by simply buying and selling randomly, you need to test it. There are two ways of doing it: backtesting (when you use past data to see how the strategy …

PSC Now Supports ATR SL/TP and Reverse Risk Calculation

February 27, 2019

Apart from some bugfixes, the version 2.18 of Position Size Calculator contains three new features:

    ATR-based stop-loss and take-profit are now a thing. If you prefer to set your SL/TP by the multiples of the Average True Range indicator, you can now do so automatically with

Ignore or Append Saturday/Sunday Hours in Market Profile

December 24, 2018

The new version of Market Profile, which has been released just now, implements two new major changes and two minor ones.

The first major change is that you can now control how the indicator processes Saturday and Sunday candlesticks. Before the update, it would try …

PSC Gets Ready for Volumes with 8 Decimal Places in Crypto

November 6, 2018 2 Comments

With ampler layout and lots of bugs squashed, version 2.15 of Position Size Calculator together with version 1.06 of PSC-Trader have been released today. The main goal of this update was to fix as many errors and inconsistencies in calculation and display as possible. The second goal was to add some of the requested …

New Market Profile Indicator — Focus on Stability and Performance

May 28, 2018

Upon receiving quite a lot of feedback and suggestions on further improvement of the Market Profile indicator, I have finally managed to prepare the new version — 1.08. The latest build is now more robust than ever:

    Smart color calculation prevents “overflows”, making the color of the profile’s blocks change smoothly and gradually.

New Position Size Calculator: SL and TP Which Follow Entry Line and Are Set in Pips

May 18, 2018 2 Comments

The newest version (2.14) the Position Size Calculator indicator, which is released today, introduces a new way to set stop-loss and take-profit for your potential trade setups. You can set the new input parameters UseFixedSLDistance and UseFixedTPDistance to true to turn this new mode on:

The example …