Forex Blog

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


EUR/USD Rallies on Positive Eurozone PMIs

June 23, 2020

EUR/USD rallied today. Market analysts explained that by mild risk appetite on the Forex market caused by the release of Purchasing Managers’ Indices for the eurozone, all of which came out better than expected. Meanwhile, US PMIs were slightly worse than expectations, making the dollar fall versus the euro. Other US …

Bityard Exchange Review

June 23, 2020

The following post is a paid advertisement. The content was provided by the advertiser.

Many investors are anxious to do leverage trading due to the hard-to-grasp technicalities involved. But leverage trading need not be complex. Bityard brings simplicity and ease of use to contract trading, allowing novice customers to confidently trade with …

EUR/USD Rises on Monday Despite Coronavirus Concerns

June 22, 2020

EUR/USD was rising today. Market analysts speculated that investors were trying to preserve risk appetite despite concerns over the potential second wave of the coronavirus. Today’s session was light in terms of macroeconomic reports in both the eurozone and the United States. The only US report released today missed economists’ projections.…

Forex Brokers Update — June 21st, 2020

June 21, 2020

No new brokers have been added to the list on our website this week. Some of the listed brokers have been updated:

InstaForex now accepts deposits via Tether (USDT).

Libertex is now regulated by the FSCA of South Africa.

LegacyFx no longer supports deposits with paysafecard.


Weekly Forex Technical Analysis (Jun 22 — Jun 26, 2020)

June 20, 2020


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0927 1.1048 1.1112 1.1233 1.1297 1.1418 1.1482

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1034 1.1084 1.1219 1.1269

Forex Trading Journal 3.0 – Multiple Improvements

June 18, 2020 (Last updated on June 26, 2020) 2 Comments

After using the same Forex trading journal for almost 8 years, I’ve finally decided to create an updated journal template and share it with everyone here.

There are lots of free spreadsheet journals already available online and there are quite a few professional stand-alone or web-based logging …

EUR/USD Pauses Decline After Disappointing Report on US Jobless Claims, Resumes Drop Later

June 18, 2020

EUR/USD continued to fall during today’s trading session. The currency pair paused its decline for a short while following the release of a disappointing unemployment claims report but quickly resumed the drop later. Market analysts explained the fall by risk aversion on markets caused by fears of a new wave of the coronavirus pandemic.

Philadelphia Fed

EUR/USD Sinks Following Surge of US Retail Sales

June 16, 2020

EUR/USD was attempting to extend yesterday’s rally today but failed and turned lower, continuing to move down following the release of US retail sales data, which showed a huge surge of sales last month.

Retail sales jumped by 17.3% in May, far more than analysts had predicted — 7.9%. The April …

Forex Brokers Update — June 14th, 2020

June 14, 2020

One new broker has become listed on our website this week:

FxView — a Cyprus-regulated Forex broker focused on providing ECN accounts with extremely low minimum account size, low commission, and negligible spreads.

Some of the previously listed brokers have been updated during the last 7 days:…

Weekly Forex Technical Analysis (Jun 15 — Jun 19, 2020)

June 13, 2020


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0965 1.1089 1.1175 1.1298 1.1384 1.1508 1.1594

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1079 1.1156 1.1289 1.1365

Divide Your Position into Multiple Trades with Several Take-Profit Levels with New Position Size Calculator

May 29, 2020

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 2 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 …

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 7 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