Forex Blog

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


EUR/USD Rallies on Back of Surprisingly Poor US Data

June 16, 2017

EUR/USD rallied today thanks to poor economic data released in the United States over the trading session. Housing data and the consumer sentiment missed forecasts, falling unexpectedly. That drove the dollar down against other rivals.

Both housing starts and building permits fell in May instead of rising as experts had predicted. …

EUR/USD Drops on US Data, Fed Interest Rate Hike

June 15, 2017

EUR/USD dropped today following yesterday’s interest rate hike from the Federal Reserve. Today’s economic reports released in the United States were mixed, but those that were good were sufficient to drive the dollar higher.

Initial jobless claims slipped from 245k to 237k last week. …

EUR/USD Halts Rally After FOMC Interest Rate Hike

June 14, 2017

EUR/USD rallied today as data about inflation and retail sales came out unexpectedly bad. The Federal Open Market Committee raised the main interest rate and predicted one more hike in 2017, staying in line with the previous forecasts. Considering that many market participants were expecting FOMC to revise …

EUR/USD Little Changed Ahead of FOMC Meeting

June 13, 2017

EUR/USD was little changed today as traders were lying in wait ahead of tomorrow’s policy announcement from the Federal Open Market Committee. The first two trading days of the week were light on economic data. This will change tomorrow as several important reports will be released, including …

Weekly Forex Technical Analysis (Jun 12 — Jun 16)

June 10, 2017 2 Comments


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1028 1.1097 1.1145 1.1214 1.1263 1.1332 1.1380

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1092 1.1135 1.1209 1.1252

EUR/USD Maintains Decline on Friday After Thursday’s Testimony of James Comey

June 9, 2017

EUR/USD dropped today, extending yesterday’s decline. The currency pair fell on Thursday after the long-awaited testimony of former FBI chief James Comey to the Senate did not bring any significant revelations, causing the US dollar to gain on other currencies. Yesterday’s policy announcement from the European Central Bank also …

EUR/USD Attempts to Bounce After Drop on ECB Rumor

June 7, 2017

EUR/USD dropped today due to the rumor that the European Central Bank will lower its inflation forecast at the next policy meeting. The ECB will meet tomorrow, and markets were hoping for a hawkish policy statement after the gathering. Yet if the rumor proves true, the central bank will likely maintain …

EUR/USD Drops Even as US Services Sector Fails to Meet Expectations

June 5, 2017

EUR/USD dropped today even as growth of the US services sector slowed, and other economic indicators were also unimpressive. Traders focus on the policy decision of the European Central Bank scheduled for June 8. No changes to the existing policy are expected, but market participants count on a more hawkish statement from …

How Do You Measure Trading Success in Forex?

June 5, 2017 (Last updated on June 20, 2017) 1 Comment

Typically, when a Forex trader closes a position, the outcome is either positive (gain) or negative (loss); the breakeven trades happen but are quite rare and uninteresting. Trading platforms usually display the outcome as the value in pips or currency units, or both. Detailed account reports can also show them in percentage to the account …

Forex Brokers Update — June 3rd, 2017

June 3, 2017

The following updates have been made to the listed brokers on during the current week:

eToro now also accepts deposits via UnionPay.

RoboForex and HYCM no longer work with PayPal.

JFD Brokers added cryptocurrency trading. launched a proprietary web-based HTML5 trading platform.

Xtrade had …

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 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 — …

Will Hedging and Real Ticks Backtesting Sway You Toward MT5?

May 9, 2016 1 Comment

In March, MetaQuotes had launched a public beta of MetaTrader 5 platform with position hedging and backtesting on real ticks. In April, the developer had pushed the modification to brokers’ demo servers. The companies can disable creation of hedging accounts in MT5 (which they mostly do). However, the feature is already there and soon …

How to Add Alerts to MetaTrader Indicators

March 22, 2016 (Last updated on December 21, 2016) 36 Comments

Originally, I intended this post as a do-it-yourself guide on how to add alerts to MetaTrader indicators without knowing how to code at all. But writing it, I came to realization that even if a trader knows nothing about MQL language and coding he will have to learn some basics through this guide …

Display Weekly and Monthly Market Profile in MetaTrader

January 25, 2016

After introducing the MetaTrader Market Profile indicator back in 2010, today I have finally updated both the MT4 and MT5 versions to work with weekly and monthly trading sessions in addition to the daily ones. Also, I have improved its functionality and fixed a number of bugs:

    Color scheme selection is now