Forex Blog

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


EUR/USD Fails to Rally, Dragged Down by ECB

January 19, 2017

EUR/USD was trying to rally during the current trading session but slid below the opening level after the European Central Bank policy meeting. The ECB did not announce any change to its extremely loose policy, and ECB President Mario Draghi said that the central bank needs …

EUR/USD Backs Off After Strong Move Up

January 18, 2017

EUR/USD went down today after yesterday’s move up. The currency pair rushed especially fast to the downside after Janet Yellen, Federal Reserve Chair, said during today’s speech that policy makers should not wait too long before raising interest rates further. (Event C …

Your 2016 Trading Results Poll

January 16, 2017

I still have one 2016 trade active (NZD/USD short from ascending channel), and there is a pending order carried over from 2016 (USD/CAD ascending channel). Nevertheless, it is now time to calculate my profit for the past year. The remaining position and order will count …

Double Top on CAD/JPY Daily Chart

January 15, 2017

I am presenting yet another pattern with the Canadian dollar in the main role. The double top on USD/CAD is still a pending one, while the USD/CAD channel is already trading. The double top on CAD/JPY is a bit different in the sense that it is bearish for CAD, not for the other currency. …

Another Bearish Signal for USD/CAD — Double Top on D1

January 15, 2017

The Canadian dollar has formed another bearish pattern against its US counterpart — this time on the daily chart. The previous pattern (ascending channel) is still in play but does not look too good. The current pattern is not an ideal double top formation. Yet, the break …

Forex Brokers Update — January 15th, 2017

January 15, 2017

No new companies have been added during the week, but some of the listed brokers have been updated:

FXGlobe no longer has offices in France and Greece. Added British pound and Japanese yen as possible account currencies. No longer offers trading by phone, managed accounts, and free education. Account …

Weekly Forex Technical Analysis (Jan 16 — Jan 20)

January 14, 2017


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0271 1.0362 1.0502 1.0593 1.0733 1.0824 1.0964

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0374 1.0527 1.0605 1.0758

EUR/USD Fails to Rally for Third Day

January 13, 2017

EUR/USD was attempting to extend to extend its rally for third day today but failed and is now trading near the opening level. The currency pair halted its rally after the better-than-expected PPI and retail sales reports from the United States.

PPI rose 0.3% in December. This is compared to the median …

EUR/USD Rallies for Second Day Following Donald Trump’s Press Conference

January 12, 2017 (Last updated on January 13, 2017)

EUR/USD rose today, though trimmed its gains by now. It was the second day of gains after US president-elect Donald Trump spoke at the press conference on Wednesday. Markets were disappointed by the fact that he did not address his planned fiscal policies. As for US economic data, it was …

EUR/USD Struggles to Keep Rising for Second Day

January 10, 2017

EUR/USD rose today following yesterday’s rally but currently is struggling to keep gains. This week is light on economic data from the United States for the most part, Friday being the exception with plenty of reports.

Wholesale inventories rose 1.0% in November according to the final estimate while analysts had …

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

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 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) 12 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 …