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Weekly Forex Technical Analysis (Sep 21 — Sep 25, 2020)

September 19, 2020

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1589 1.1663 1.1752 1.1826 1.1915 1.1989 1.2078

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1667 1.1760 1.1830 1.1923

EUR/USD Struggles to Find Direction

September 18, 2020

EUR/USD fell a bit today in a largely directionless market. The currency pair was swinging between gains and losses after the FOMC monetary policy meeting as traders were digesting the dovish policy announcement. As for today’s US macroeconomic data, it was mixed.

US current account deficit rose to $170.5

EUR/USD Rebounds After FOMC-Inspired Decline Loses Momentum

September 17, 2020

EUR/USD was falling at the start of Thursday’s trading session but reversed movement later and has erased almost all of its losses by now. The dollar was surprisingly strong following yesterday’s monetary policy announcement from the FOMC considering how dovish it was. But apparently, markets were expecting even …

EUR/USD Loses Gains, Dovish FOMC Announcement Doesn’t Help

September 16, 2020 (Last updated on September 17, 2020)

EUR/USD was moving up at the start of Wednesday’s trading session but has reversed its movement at about 10:00 GMT. The currency pair was extremely volatile immediately following the release of the monetary policy statement from the Federal Open Market Committee but quickly resumed its downward movement. Disappointing …

EUR/USD Fails to Keep Earlier Gains at Directionless Market

September 15, 2020

EUR/USD was rising till 11:30 GMT today but has reversed its movement afterward and is now trading below the opening level. US macro indicators were generally good today, though industrial production and capacity utilization missed forecasts slightly.

NY Empire State Index jumped sharply …

Forex Brokers Update — September 13th, 2020

September 13, 2020

No descriptions of new Forex brokers have been published on our website this week, but we have updated some of the existing listings:

FXCM now accepts deposits via Skrill and Neteller.

FXDD launched a free VPS service for its traders.

FXFlat reduced its minimum deposit to $200 and added …

Weekly Forex Technical Analysis (Sep 14 — Sep 18, 2020)

September 12, 2020

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1595 1.1674 1.1760 1.1839 1.1925 1.2003 1.2089

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1676 1.1764 1.1841 1.1928

EUR/USD Trades Above Opening Despite Positive Surprise from CPI

September 11, 2020

EUR/USD rallied today and managed to keep gains even after US inflation data came out better than expected. While the currency pair has trimmed its gains by now, it is still trading above the opening level.

US CPI rose by 0.4% in August on a seasonally adjusted basis. Core …

EUR/USD Climbs After ECB Policy Meeting, US Jobless Claims

September 10, 2020

EUR/USD jumped today after the European Central Bank signaled in a statement accompanying the monetary policy meeting that the central bank does not target the exchange rate, meaning that it will not prevent appreciation of the euro. (Event A on the chart.) The worse-than-expected US jobless claims also helped the currency …

MT4/MT5 Indicator to Plot TD Sequential Setup, Countdown, and Support/Resistance Levels

September 8, 2020

If you ever wanted to trade using Tom DeMark’s TD Sequential methods on a MetaTrader broker but found the currently available indicators lacking, you will be delighted to get hold of my latest creation — TD Sequential Ultimate. It is a free open-source indicator available for MetaTrader 4 and MetaTrader …

MT4/MT5 Indicator to Plot TD Sequential Setup, Countdown, and Support/Resistance Levels

September 8, 2020

If you ever wanted to trade using Tom DeMark’s TD Sequential methods on a MetaTrader broker but found the currently available indicators lacking, you will be delighted to get hold of my latest creation — TD Sequential Ultimate. It is a free open-source indicator available for MetaTrader 4 and MetaTrader …

Basic Scheduling EA for MetaTrader

August 11, 2020

Have you ever wanted to set up a schedule for your MetaTrader platform to turn off AutoTrading at a given day and time and then re-enable it at some other day and time? Me neither! But I am quite sure there are many people who need something like that. AutoTrading Scheduler

Control Panel for Price Alert Indicator in MT4/MT5

July 20, 2020

Price Alert indicator has got a complete overhaul today and is now equipped with a small but very functional panel. You can use it to set price levels, enable and disable alert types, and quickly remove the indicator. Push-notification alerts are now supported by the indicator. Additionally, input

Arbitrary Rectangle Sessions with Market Profile Indicator

July 14, 2020

Today a new version of Market Profile indicator for MetaTrader 4 and 5 has been released. There are three main additions to the indicator this time:

The biggest one is the rectangle sessions. They are enabled by setting the Session input parameter to Rectangle and adding any …

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

May 29, 2020 2 Comments

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:

    Divide

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 4 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 …