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EUR/USD Declines, Bounces Back to Opening Later

January 14, 2020 (Last updated on January 15, 2020)

EUR/USD was falling today but by now has bounced to trade close to the opening level. Trading was relatively quiet as the session was light in terms of news and macroeconomic data in the United States.

CPI rose by 0.2% in December, matching forecasts exactly. The index was up 0.3% in the previous month. (Event A on the chart.)…

Forex Brokers Update — January 12th, 2020

January 12, 2020

The first full week of 2020 bore no new broker listings for us but had some updates to the already listed Forex companies:

TradeFW has updated its spreads across trading account types.

TradeCMX added wire transfer to deposit methods.

TMS Brokers increased the number of currency pairs for trading. …

Weekly Forex Technical Analysis (Jan 13 — Jan 17, 2020)

January 11, 2020

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0949 1.1017 1.1069 1.1137 1.1189 1.1258 1.1310

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1013 1.1061 1.1133 1.1181

EUR/USD Reverses Losses After NFP Misses Expectations

January 10, 2020

EUR/USD fell today but has rebounded by now. The reason for the bounce was the miss of US nonfarm payrolls. The currency pair was unsure where to go at first, jumping initially but retreating almost immediately afterward. But ultimately, the pair decided to go higher.

Nonfarm payrolls rose by 145k in December, missing …

EUR/USD Rises a Bit Despite Falling US Jobless Claims

January 9, 2020

EUR/USD rose a bit today even though US unemployment claims fell more than was expected. Waning fears over the US-Iranian conflict lowered demand among investors for safer currencies, and that can explain why the greenback was a little soft.

Initial jobless claims dropped to a seasonally adjusted level …

EUR/USD Sinks After Positive Data in Both USA & Eurozone

January 7, 2020

EUR/USD sank today following yesterday’s rally. Macroeconomic reports were good in both the eurozone and the United States, giving the currency pair no reason to move in any particular direction.

Trade balance deficit narrowed to $43.1 billion in November from $46.9 billion in October. The actual value was below the median …

[Poll] How Profitable Are Your 2019 Forex Trading Results?

January 6, 2020

Another year of currency trading is over and it is time for each trader to look at their bottom line — what is the net profit or loss? What were the main drivers for such a result? What can be done better in 2020 to improve the results? I will start off by saying that 2019 …

Will AUD/NZD Symmetrical Triangle Consolidation End in a Breakout?

January 5, 2020 (Last updated on January 7, 2020)

The long-term downtrend is active in Aussie vs. kiwi trading since November 11. But since December 11, the pair has entered a consolidation phase that eventually took form of a classic example of a symmetrical triangle. Now, a successful breakout could start a new downward trend.

You can see the borders …

Forex Brokers Update — January 5th, 2020

January 5, 2020

Although there wasn’t any new additions to the list of Forex brokers this week, we had some updates:

RoboForex added Boleto, QIWI, and Yandex.Money payment systems. Increased the maximum leverage for Forex pairs in Pro-Standard account type from 1:1000 to 1:2000. Added Prime account with ultra-low spreads and $5,000 …

Weekly Forex Technical Analysis (Jan 6 — Jan 10, 2020)

January 4, 2020

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0993 1.1059 1.1107 1.1173 1.1222 1.1288 1.1336

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1055 1.1099 1.1169 1.1213

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 2 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

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 2 Comments

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 …