Forex Blog

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


Weekly Forex Technical Analysis (Mar 12 — Mar 16)

March 10, 2018


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.2057 1.2163 1.2234 1.2340 1.2411 1.2518 1.2589

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.2154 1.2217 1.2331 1.2394

NFP Causes EUR/USD Confusion and Brief Rally

March 9, 2018

The US dollar had been strengthening against the euro during today’s trading session right until the monthly employment report was released by the US Bureau of Labor Statistics. A set of mixed data caused the turmoil in the currency market and created a notable spike in the EUR/USD chart. Then, the currency pair switched to a rally, though …

EUR/USD Trading Ignores US Macros

March 7, 2018

The euro fell against the US dollar somewhat during today’s trading session. Still, the currency pair seemed to be unmoved by the fundamental indicators that have been released in the USA today. Although they were mixed, some of them deviated from the forecast values quite significantly.

ADP employment rose by …

Will FOMC Raise Interest Rate in March 2018?

March 5, 2018 (Last updated on March 9, 2018)

Despite what you might think of Jerome Powell’s inclination to follow Janet Yellen’s steps, the question of whether the selected path of the monetary policy tightening will remain the same remains open at least until we see the first statement released under the new governance.

Even under Yellen, …

EUR/USD Recovers from Intraday Drop

March 5, 2018

EUR/USD dropped today but has almost recovered by now as the dollar remained under pressure from concerns about the planned US tariffs on steel and aluminum imports. The recovery paused for a short while following the release of decent reports about the US services sector but resumed fairly quickly.

Markit services

British Pound in Uptrend Consolidation vs. Aussie

March 4, 2018 (Last updated on March 6, 2018)

A rather short-lived uptrend on the GBP/AUD daily chart that lasted from January 11 through February 8 has ended in a consolidation pattern known as a symmetrical triangle. The triangle is a continuation formation, which would prompt us to buy the currency pair should the bullish breakout occur.

The image below shows the triangle’s …

NZD/USD Could Tank Following Double Top Formation

March 4, 2018

Having bounced twice from the horizontal resistance level near 0.7436, the New Zealand dollar has seemingly stopped its advance against the US counterpart. The uptrend, which lasted from mid-November last year through late January this year, is now crowned with a double top pattern. A downside …

Forex Brokers Update — March 4th, 2018

March 4, 2018 (Last updated on March 6, 2018)

Two weeks have passed since the last broker update. One new broker has been added during the period:

Big Boss — an offshore Forex broker that is focusing on Bitcoin deposits and withdrawals and is offering a large set of trading instruments. In addition to a fancy name, it has …

Weekly Forex Technical Analysis (Mar 5 — Mar 9)

March 3, 2018


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1997 1.2076 1.2197 1.2276 1.2397 1.2476 1.2598

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.2086 1.2218 1.2287 1.2419

EUR/USD Bounces from Daily Lows After Powell’s Second Testimony

March 1, 2018

EUR/USD was moving down earlier today but bounced later and is now trading above the opening level. There were plenty of economic releases in the United States during the current trading session, but most of them were either within or better than expectations, with just a couple of missteps. That …

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

MetaTrader Panel for Position Size Calculator

September 7, 2016 (Last updated on February 5, 2017) 7 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 (Last updated on January 29, 2017) 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 — …