Forex Blog

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


Will EUR/USD Continue Its Recovery After This Symmetrical Triangle?

August 11, 2019 (Last updated on August 12, 2019)

EUR/USD is trading in a clear downtrend if we look at the long-term charts of this currency pair. However, its 4-hour chart shows another picture — a recovery rally topped with a symmetrical triangle, which is a likely continuation pattern.

The borders of the triangle are the yellow lines. The cyan line is the potential …

Forex Brokers Update — August 11th, 2019

August 11, 2019

One new broker has been added to the list of Forex brokers on our website this week:

EagleFX — a classic offshore MT4 broker with $10 minimum account size, 1:500 leverage, and a wide range of trading instruments to work with.

Updates have been made to some other companies:


Weekly Forex Technical Analysis (Aug 12 — Aug 16, 2019)

August 10, 2019


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0972 1.1037 1.1119 1.1184 1.1265 1.1331 1.1412

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1041 1.1126 1.1188 1.1273

EUR/USD Declines After Attempting to Rally

August 8, 2019

EUR/USD attempted to rally but failed and is now trading below the opening level. There were just a couple of reports released in the United States today, none of which were particularly important, therefore US data was not the reason for the volatile moves of the currency pair.

Initial jobless claims fell to the seasonally …

EUR/USD Continues to Get Support from US-China Conflict

August 7, 2019

EUR/USD rose today as traders were not keen on buying the dollar amid escalating US-China trade tensions. The currency pair has almost lost its gains by now, though.

US crude oil inventories increased by 2.4 million barrels last week and were above the five-year average for this time of year. …

EUR/USD Rallies amid Escalating US-China Trade Tensions

August 5, 2019

EUR/USD surged today despite risk aversion on the Forex market. Market analysts speculated that the escalating trade tensions between the United States and China, which were causing the risk aversion, was actually the reason for the surge of the currency pair as prospects for a trade war were hurting the greenback. The outlook for another interest rate

Will Other Central Banks Follow the Fed?

August 5, 2019

On July 31, the US Federal Reserve has announced a 25 basis points interest rate cut. At the accompanying press conference, the Fed’s Chair Jerome Powell hinted that this rate cut is not a start of some kind of a long-term dovish policy. However, according to the CME FedWatch

Forex Brokers Update — August 4th, 2019

August 4, 2019 (Last updated on August 6, 2019)

Two new brokers have been added to our listings during the last two weeks:

Blueberry Markets — a regulated Australian broker operating under the license of Eightcap Pty Ltd and aiming at international clientele. They offer MT4 accounts starting with just $100 and with up to 1:500 leverage on FX …

EUR/USD Rallies After NFP Match Expectations

August 2, 2019

EUR/USD rallied today after US nonfarm payrolls matched expectations. Market analysts speculated that it is because the slowing employment growth and escalating US-China trade conflict led to speculations that the Federal Reserve will have to cut interest rates again in September.

Nonfarm payrolls rose by 164k in July, …

Biggest Forex Scam Pt. XIII (Kelvin Ramirez)

August 2, 2019

On July 19, 2019, the Commodity Futures and Trading Commission (CFTC) announced that Kelvin O. Ramirez had been fined over $2.9 million for soliciting money from clients using fraudulent claims and then embezzling the money instead of trading FX on behalf of his clients as he had promised.

Ramirez …

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

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

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 …

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