Forex Blog

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


Forex Brokers Unprofitability (ESMA Rules) — November 2018

November 17, 2018

Quite a lot of time has passed since our last review of Forex brokers customers’ profitability report — it had been published with the poll about the possibility of the ESMA CFD/Forex rules renewal. Since then, the rules have been renewed to last at least through February 1, 2019. …

Weekly Forex Technical Analysis (Nov 19 — Nov 23)

November 17, 2018


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1075 1.1145 1.1280 1.1350 1.1484 1.1554 1.1689

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1161 1.1312 1.1366 1.1516

EUR/USD Jumps on Dovish Fed

November 16, 2018

EUR/USD jumped today. Market analysts speculated that the possible reason for that was the dovish tone of several Federal Reserve officials. While Fed Chairman Jerome Powell was optimistic about US economic growth, he cautioned against headwinds to growth and fading fiscal stimulus. Fed Vice Chairman Richard …

EUR/USD Recovers After Sharp Drop Despite Positive US Data

November 15, 2018

EUR/USD dropped sharply intraday but rebounded later despite the fact that most of US macroeconomic reports released today were better than expectations.

Retail sales rose 0.8% in October, exceeding market expectations of a 0.6% increase. The September reading was revised from an increase by 0.1% to a decrease of the same rate. …

EUR/USD Demonstrates Volatile Reaction to US CPI

November 14, 2018

EUR/USD reacted with volatility to the US Consumer Price Index, which came out within expectations. Initially, the currency pair spiked but retreated very quickly, demonstrating a sharp pullback.

CPI rose 0.3% in October, matching analysts’ forecasts exactly. The index increased 0.1% in September. (Event A on the chart.)

Yesterday, a report …

CAD/CHF Consolidated in Symmetrical Triangle After Rally

November 11, 2018

The Canadian dollar has formed a symmetrical triangle pattern versus the Swiss franc, which is especially visible on daily timeframe. The pattern follows an upswing and suggests a continuation of the bullish trend in case of a topside breakout.

The borders of the triangle are marked with the yellow lines on the image below. My potential entry level is marked …

Forex Brokers Update — November 12th, 2018

November 11, 2018

No new brokers have become listed on our website during this week. Some have been updated:

ForexChief is now registered in Vanuatu. Accepts deposits via Bitcoin, FasaPay, and UnionPay. Added many new cryptocurrency pairs for trading. They now accept US traders and offer trading contests. …

Weekly Forex Technical Analysis (Nov 12 — Nov 16)

November 10, 2018


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1083 1.1199 1.1267 1.1383 1.1451 1.1567 1.1634

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1187 1.1242 1.1371 1.1426

EUR/USD Trades Lower Following Better-Than-Expected US PPI

November 9, 2018

EUR/USD fell today. Some market analysts attributed the decline to the better-than-expected US Producer Price Index print, which boosted the dollar. But the currency pair actually did not respond to the release, continuing to move largely sideways after it and falling later. The EUR/USD pair was heading to end the week lower.…

EUR/USD Moves Lower Following FOMC Announcement

November 8, 2018 (Last updated on November 9, 2018)

EUR/USD was moving down today and fell further after the Federal Open Market Committee decided to leave its monetary policy without change.

Initial jobless claims fell a bit from 215k to 214k last week, in line with analysts’ forecasts. (Event A on the chart.)

FOMC left interest …

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

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 …

Display Market Profile for Intraday Sessions in MetaTrader

February 6, 2018

Two years ago, I have added the capability for a Market Profile indicator to work with weekly and monthly trading sessions. One of the members of our Forum suggested adding customizable intraday sessions to Market Profile. Considering the fact that quite a few Forex traders use Market Profile for analysis, …

Profile Persistence and Pip Value Display in Position Size Calculator

August 25, 2017

Today’s update to the Position Size Calculator indicator is not as big and significant as the last one, but I am sure the version 2.08 will be interesting to many traders.

Platform profile change will no long disrupt your panel location, minimization status, and settings:

Pip value

Spread Display and Take-Profit Multiplier in Position Size Calculator

July 24, 2017

It is time to roll out a new version of the Position Size Calculator indicator. Although the new release does not implement any breakthrough changes it introduces some useful features and fixes one annoying bug.

Take-profit button multiplier (set via input parameter) can be …

Free Order Management EA with a Graphic Control Panel

February 6, 2017

I remember myself during my early Forex years, sitting on a bunch of positions across five or six currency pairs and thinking — how do I make them all close at once when their total profit reaches my target? Now, I have developed a tool that does exactly that. I am pleased to announce the launch …

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 (Last updated on January 25, 2018) 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 2 Comments

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