Forex Blog

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


EUR/USD Falls Despite Poor US Services PMIs

February 5, 2019

EUR/USD fell today on mixed macroeconomic data in the eurozone. US reports were not good as well, with services Purchasing Managers’ Indices dropped, but that did not prevent the dollar from attempting to stage a bounce.

Markit services PMI was at 54.2 in January, down …

Are You Contrarian Trader or Follow-the-Crowd Trader?

February 4, 2019

Do you trade with the crowd or against the crowd? The question is not as simple as it might look at first glance and actually depends not only on your personality as a trader but also on your approach to sentiment analysis. More than half of this blog’s readers use the Commitments of Traders

Forex Brokers Update — February 3rd, 2019

February 3, 2019

We have added one new Forex broker during the week ending today:

FX Trading Pro — a US introducing broker (for OANDA) registered with CFTC and NFA. It offers multiple trading platforms and $20 minimum account size.

Meanwhile, some existing brokers have been …

Weekly Forex Technical Analysis (Feb 4 — Feb 8, 2019)

February 2, 2019


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1266 1.1328 1.1390 1.1452 1.1515 1.1576 1.1639

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1328 1.1391 1.1452 1.1515

EUR/USD Rallies, Keeps Gains After Mixed Nonfarm Payrolls

February 1, 2019

EUR/USD rallied today on the back of better-than-expected inflation data released in the eurozone and kept its gains after mixed US nonfarm payrolls. The currency pair dipped for a short while following the release of positive US manufacturing reports but bounced back very quickly afterwards.

Nonfarm payrolls climbed by 304k in January, …

EUR/USD Falls on Eurozone Macroeconomic Data

January 31, 2019

EUR/USD fell today, likely dragged down by mixed macroeconomic data released in the eurozone during the Thursday’s trading session. US economic reports were mixed as well, but that did not prevent the dollar from gaining on the euro.

Initial jobless claims jumped from 200k to 253k last

Forex/CFD Brokers Losing Traders Percentages — January 2019

January 31, 2019

As the year 2018 has come to end, many Forex brokers now have to update their traders’ unprofitability numbers as required by the ESMA regulations. However, it seems like not all brokers have done so since the last time we reported on these values (November last …

EUR/USD Jumps After FOMC Dovish Statement

January 30, 2019

EUR/USD jumped sharply today after the Federal Open Market Committee demonstrated a dovish stance in its monetary policy statement. Before the release, the dollar was boosted by the better-than-expected employment data.

ADP employment rose by 213k in January, exceeding the average forecast of 180k. The December increase got a negative …

Forex Brokers Update — January 27th, 2019

January 27, 2019

One new company has been listed on during the last two weeks:

SquaredDirect — a CySEC-regulated broker with a wide range of account types aiming at different type of Forex traders. Both classic and raw spread accounts are available via this DMA/STP brokerage.

Updates to the already listed brokers …

Weekly Forex Technical Analysis (Jan 28 — Feb 1, 2019)

January 26, 2019


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1195 1.1242 1.1324 1.1370 1.1452 1.1499 1.1580

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1251 1.1341 1.1379 1.1469

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

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