Forex Blog

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


NFP Surprise Positively, EUR/USD Edges Down

August 4, 2017

EUR/USD was trading sideways ahead of US nonfarm payrolls but slid after the release of the employment report. Employment growth was better than expected, while other indicators looked solid as well, though economists were concerned that wage inflation basically is not moving anywhere.

Nonfarm payrolls

EUR/USD Falls as ISM Services PMI Trails Forecasts

August 3, 2017

EUR/USD rose today as the report about the US services industry released by the Institute for Supply Management today turned out to be worse than was predicted. Other reports were good, but that did not prevent the currency pair from rallying, though the rally was limited.

Initial jobless claims

EUR/USD at New Highs as US Employment Misses Expectations

August 2, 2017

EUR/USD rallied to news highs today as US employment data trailed forecasts, adding to concerns that the economic situation does not warrant additional monetary tightening from the Federal Reserve. The really important piece of data, though, will be Friday’s nonfarm payrolls, which does not always correlate with …

EUR/USD Retreats, Stays Close to Multi-Year Highs

August 1, 2017

EUR/USD was gradually moving down today and logged a sharp drop just recently. Yet the currency pair remained near the multi-year highs, and so far the decline looks like just consolidation ahead of Friday’s employment data. As for today’s data in the United States, macroeconomic indicators were largely within expectations, construction …

Will Oil Trade Below $40 in 2017? Poll

July 31, 2017

Although crude oil does not pertain to the foreign exchange market, it is often traded by currency traders via CFDs provided by numerous retail Forex brokers. The last time WTI oil traded below $40 per barrel was on August 3, 2016, while the Brent crude reached …

EUR/USD Rallies to New High

July 31, 2017

EUR/USD rallied to a new high today, reaching the strongest level since January 2015. Basically all economic reports released in the eurozone during the current trading session were good, reinforcing the view that the European Central Bank will be more hawkish going forward. Meanwhile, data released in the United …

CAD/JPY Has Potential to Rally from Inverse Head-and-Shoulders

July 30, 2017

After hitting its multi-year low against the Japanese yen back in November of 2016, the Canadian dollar has done a great deal of recovering even though the first half of 2017 was a pure downtrend for the loonie. The current upward wave is completing the inverse head-and-shoulders pattern on a weekly timeframe.

Below, you can …

Forex Brokers Update — July 30th, 2017

July 30, 2017

As no new brokers have been listed during the week, here is the list of changes to the existing company listings:

AAAFx added Bitcoin deposit option and now supports trading in cryptocurrencies.

AMarkets, AvaTrade, Alpari, ADS Prime, Admiral Markets, and AxiTrader have been …

Weekly Forex Technical Analysis (Jul 31 — Aug 4)

July 29, 2017


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1485 1.1549 1.1649 1.1713 1.1813 1.1877 1.1977

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1558 1.1667 1.1722 1.1832

EUR/USD Attempts to Resume Rally

July 28, 2017

EUR/USD rose today, attempting to resume its rally after yesterday’s drop. While today’s US GDP report looked good, some inflation readings were disappointing. And that is coming after just recently the Federal Reserve voiced concern about sluggish inflation. Additionally, another failure to repeal

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 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) 55 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 …