Forex Blog

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


Forex Brokers Update — September 27th, 2020

September 27, 2020

One new broker has been added to our list during the week that ends today:

TradeATF — an offshore broker registered in Belize and aimed mainly on Latin America, but doing business globally. They offer MT4 accounts with up to 1:500 leverage and $100 minimum size.

Some of the listed …

Weekly Forex Technical Analysis (Sep 28 — Oct 2, 2020)

September 26, 2020


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1278 1.1445 1.1537 1.1705 1.1797 1.1964 1.2056

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1426 1.1500 1.1686 1.1759

EUR/USD Moves Sideways After Falling

September 24, 2020

EUR/USD fell a bit today but is currently moving sideways. The dollar remained largely strong thanks to the persisting risk aversion. US macroeconomic data was mixed today as the labor market showed worse results than was expected, while the housing market was better than expected.

Initial jobless

EUR/USD Continues to Decline on Coronavirus Fears, Disappointing Eurozone Indicators

September 23, 2020

EUR/USD continued to decline today. Market analysts speculated that the decline was a result of coronavirus fears and today’s macroeconomic releases in the eurozone, some of which were rather disappointing. In particular, the services sector in various countries of the region showed notable weakness. The testimony of Federal Reserve Chairman Jerome Powell did …

EUR/USD Extends Monday’s Drop on Tuesday

September 22, 2020

EUR/USD fell on Monday due to risk aversion caused by a surge of new coronavirus cases and continued to move down on Tuesday. Positive US macroeconomic data released today was also weighing on the currency.

Richmond Fed manufacturing index rose from 18 in August to 21 in September. That was a positive …

Forex Brokers Update — September 20th, 2020

September 20, 2020

This week has brought us zero new listings, but we have updated some of the listed brokers:

easyMarkets became regulated by the FSA of Seychelles.

Global Market Index added an ECN account type with $100,000 minimum size.

Global Prime stopped accepting payments via WebMoney.

HotForex added …

Weekly Forex Technical Analysis (Sep 21 — Sep 25, 2020)

September 19, 2020


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1589 1.1663 1.1752 1.1826 1.1915 1.1989 1.2078

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1667 1.1760 1.1830 1.1923

EUR/USD Struggles to Find Direction

September 18, 2020

EUR/USD fell a bit today in a largely directionless market. The currency pair was swinging between gains and losses after the FOMC monetary policy meeting as traders were digesting the dovish policy announcement. As for today’s US macroeconomic data, it was mixed.

US current account deficit rose to $170.5

EUR/USD Rebounds After FOMC-Inspired Decline Loses Momentum

September 17, 2020

EUR/USD was falling at the start of Thursday’s trading session but reversed movement later and has erased almost all of its losses by now. The dollar was surprisingly strong following yesterday’s monetary policy announcement from the FOMC considering how dovish it was. But apparently, markets were expecting even …

EUR/USD Loses Gains, Dovish FOMC Announcement Doesn’t Help

September 16, 2020 (Last updated on September 17, 2020)

EUR/USD was moving up at the start of Wednesday’s trading session but has reversed its movement at about 10:00 GMT. The currency pair was extremely volatile immediately following the release of the monetary policy statement from the Federal Open Market Committee but quickly resumed its downward movement. Disappointing …

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 2 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 …