Forex Blog

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


Forex Brokers Update — October 6th, 2019

October 6, 2019

One new broker has been added to the list of companies on this week:

LegacyFx — a broker operating with two entities — one regulated Cypriot company and one offshore Vanuatu company. This allows offering unrestricted conditions to non-EU traders and restricted but protected environment for traders in the European Union. …

Weekly Forex Technical Analysis (Oct 7 — Oct 11, 2019)

October 5, 2019


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0784 1.0832 1.0904 1.0952 1.1025 1.1072 1.1145

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0838 1.0917 1.0958 1.1037

EUR/USD Swings Back & Forth After US NFP

October 4, 2019

EUR/USD was extremely volatile after the release of US nonfarm payrolls, swinging back and forth. Currently, the currency pair trades slightly above the opening level even though the report was rather poor for the most part.

Nonfarm payrolls rose by 136k in September, missing the consensus forecast of 146k. The August increase got …

EUR/USD Rises amid Fears of Slowing US Economic Growth

October 3, 2019

EUR/USD extended its rally today as fears of potentially slowing economic growth in the United States hit the US dollar. Today’s data fueled such concerns as the report from the Institute for Supply Management showed that expansion of the services industry slowed last month more than was expected.

Initial jobless

EUR/USD Rebounds Despite Employment Growth Matching Expectations

October 2, 2019 (Last updated on October 3, 2019)

EUR/USD was falling earlier today but has bounced by now, rising above the opening level. The bounce happened despite decent US employment data that matched expectations.

ADP employment rose by 135k in September, close the to the median forecast of 140k but less than in August — 157k (the reading …

EUR/USD Climbs After ISM Manufacturing Declines Unexpectedly

October 1, 2019

EUR/USD was moving back and forth today, starting the session with a gradual decline, moving upward afterward, retreating yet again but shooting to the upside after the manufacturing report from the Institute for Supply Management showed an unexpected decline of the sector.

Markit manufacturing PMI rose to 51.1 in September from …

Have You Ever Filed Complaint with Forex Regulator?

September 30, 2019

The regulation of Forex brokers is one of the most discussed topics in trader communities. It is also a topic of considerable importance because the safety from non-trading related risks depends mainly on the supervising authorities. According to a poll we had a few years ago, the vast majority of our …

Forex Brokers Update — September 29th, 2019

September 29, 2019

One new company has become listed on our website during the week that’s ending today:

TIOmarkets — a Forex broker, which operates both under British FCA regulation and as an offshore company in Saint Vincent & the Grenadines. The most prominent feature of this broker is that it offers two …

Weekly Forex Technical Analysis (Sep 30 — Oct 4, 2019)

September 29, 2019


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0767 1.0835 1.0888 1.0957 1.1010 1.1078 1.1131

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0831 1.0880 1.0953 1.1002

EUR/USD Rises as US Consumer Spending & Core PCE Inflation Slow

September 27, 2019

EUR/USD gained today after the release of US macroeconomic data that showed that growth of consumer spending slowed sharply and core PCE inflation also slowed unexpectedly. Not all reports were bad. The consumer sentiment improved much more than was anticipated. But that did not prevent …

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

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

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, …