1.Forex Strategy Builder is
Free forex software
Free forex software
Forex Strategy Builder is a visual forex strategy back tester. It uses combinations of technical indicators and logic rules to simulate a trading process employing historical forex rates. An included automatic strategy generator enables you to compose a profitable strategy. An optimizer, an intraday scanner, a bar explorer and an interpolation methods comparator are included to guarantee the maximum quality of your forex strategy development.
Supported Operating Systems:
- Windows 98
- Windows 98 Second Edition
- Windows ME
- Windows 2000 Service Pack 3
- Windows Server 2003
- Windows XP Service Pack 2
- Windows Vista
Download
For USA
http://forexsb.com/downloads/ForexStrategyBuilder.exe
For Europe
http://forexstrategybuilder.com/downloads/ForexStrategyBuilder.exe
2.Forex Market Hours Monitor
Forex Market Hours Monitor is a free software for tracking active Forex market sessions worldwide (London, New York, Sydney, Tokyo). This freeware can be used by all forex traders trading in any time zone.
For USA
http://forexsb.com/downloads/ForexStrategyBuilder.exe
For Europe
http://forexstrategybuilder.com/downloads/ForexStrategyBuilder.exe
2.Forex Market Hours Monitor
Forex Market Hours Monitor is a free software for tracking active Forex market sessions worldwide (London, New York, Sydney, Tokyo). This freeware can be used by all forex traders trading in any time zone.
Prime4x is a new Forex broker that started offering its services on-line in 2008 and its description was added to my site today. Prime4x offers MetaTrader 4 platform, CFD instruments to trade on, deposits via wire transfer and credit cards only and various bonuses. The minimum account size is $100 and all traders receive 10% bonus on their deposit. There is also a free promotional bonus $500 available on every new account, which can’t be withdrawn, but the profit earned from trading this bonus can be. Prime4x is based in Cyprus and although they are not currently regulated by any authority there, they claim to get the regulation by the Cyprus Securities Exchange Commission from the beginning of 2009. Trading is leveraged by 1:500 for mini accounts, 1:400 for standard accounts and 1:100 for institutional accounts. Apart from the retail Forex trading Prime4x offers managed accounts service.
The only problem with this Forex broker is their website. It’s completely unprofessional, features examples of some really awkward spelling and punctuation and also tries to resize the browser window with each page load.
Tags: CFD, Forex broker, MetaTrader
An interesting e-book was written back in 1998 by Sam Y. Cross of the Federal Reserve Bank of New York — All About the Foreign Exchange Market in the United States. In the focus of this e-book is the U. S. Forex market in its common understanding — not the macroeconomic currency indicators. This e-book was written in the pre-euro era, so it contains some archaisms — such as French franc and Deutsche Mark. The research presented in this book would be interesting not only to Forex traders (who can get a lot of useful facts from it) but also to everyone, who is interested in the currency trading market, because it is a part of its history. 10 years ago, the on-line Forex market as it’s currently known to millions of traders, has been only starting to develop and it’s amazing to read about the market’s history and understand what a way the Forex market has came until now. This e-book is now available for a free download from my site.
Tags: Forex book, Forex market
EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: sell.
EUR/JPY trend: sell.
| Floor Pivot Points | |||||||
|---|---|---|---|---|---|---|---|
| Pair | 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| EUR/USD | 1.1869 | 1.2198 | 1.2457 | 1.2786 | 1.3045 | 1.3374 | 1.3633 |
| GBP/USD | 1.4457 | 1.4996 | 1.5319 | 1.5858 | 1.6181 | 1.6720 | 1.7043 |
| USD/JPY | 92.69 | 94.73 | 96.47 | 98.51 | 100.25 | 102.29 | 104.03 |
| EUR/JPY | 112.77 | 117.63 | 121.26 | 126.12 | 129.75 | 134.61 | 138.24 |
| Woodie’s Pivot Points | |||||
|---|---|---|---|---|---|
| Pair | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res |
| EUR/USD | 1.2181 | 1.2423 | 1.2769 | 1.3011 | 1.3357 |
| GBP/USD | 1.4996 | 1.5319 | 1.5858 | 1.6181 | 1.6720 |
| USD/JPY | 94.73 | 96.47 | 98.51 | 100.25 | 102.29 |
| EUR/JPY | 117.63 | 121.26 | 126.12 | 129.75 | 134.61 |
| Camarilla Pivot Points | ||||||||
|---|---|---|---|---|---|---|---|---|
| Pair | 4th Sup | 3rd Sup | 2nd Sup | 1st Sup | 1st Res | 2nd Res | 3rd Res | 4th Res |
| EUR/USD | 1.2394 | 1.2555 | 1.2609 | 1.2663 | 1.2771 | 1.2825 | 1.2879 | 1.3040 |
| GBP/USD | 1.5168 | 1.5405 | 1.5484 | 1.5563 | 1.5721 | 1.5800 | 1.5879 | 1.6116 |
| USD/JPY | 96.14 | 97.18 | 97.53 | 97.87 | 98.57 | 98.91 | 99.26 | 100.30 |
| EUR/JPY | 120.22 | 122.56 | 123.33 | 124.11 | 125.67 | 126.45 | 127.22 | 129.56 |
| Tom DeMark’s Pivot Points | ||||
|---|---|---|---|---|
| Pair | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| Resistance | 1.2916 | 1.6020 | 99.38 | 127.94 |
| Support | 1.2328 | 1.5158 | 95.60 | 119.45 |
| Fibonacci Retracement Levels | ||||
|---|---|---|---|---|
| Pairs | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| 100.0% | 1.3114 | 1.6397 | 100.54 | 130.98 |
| 61.8% | 1.2889 | 1.6068 | 99.10 | 127.74 |
| 50.0% | 1.2820 | 1.5966 | 98.65 | 126.74 |
| 38.2% | 1.2751 | 1.5864 | 98.20 | 125.73 |
| 23.6% | 1.2665 | 1.5738 | 97.65 | 124.49 |
| 0.0% | 1.2526 | 1.5535 | 96.76 | 122.49 |
The Japanese candlesticks is a nice tool of trading for any chart-trader. Some Forex traders prefer to trade on the bare charts without adding any indicators. The candlestick patterns are used as the entry and exit symbols in many cases. But it’s not an easy task to constantly recognize those Shooting Stars, various Dojis, Hammers, etc. Pattern Recognition Master is a nice tool to help the chart-traders to automatically recognize candlestick patterns, leaving the traders only with the choices of the actual trading. You can download this MetaTrader indicator from my site for free. It was created by Jason Robinson, Carl Sanders and Hartono Setiono.
When you attach it to your MT4 chart each candle that represents some candlestick pattern will be marked with the symbol. A legend for the symbols is located in the top left corner of the chart and you can easily find out which patter is represented by the specific symbol. Now, all you have to do is to buy after the strong bullish patterns and sell on the strong bearish patterns.
EUR/USD declined today after the U.S. elections were over and the next president’s name became known fast and without any troubles. Barack Obama may create all necessary conditions for the dollar to grow further, but it will take him a lot of effort to do so. When the euphoria around the elections disappeared, EUR/USD began to rise on Forex. The macroeconomic background in U.S. is very poor now and it will press on the dollar too. EUR/USD is currently trading near 1.3032.
ADP employment report for October showed a 157,000 decline in the non-farm private sector jobs. The September’s 8,000 drop was also revised — down to 26,000 lost jobs. The median forecast by the market analysis for October drop was 102,000.
Non-manufacturing ISM index also decreased in October — from 50.2% to 44.4%, while a drop to only 47.8% was expected by the market participants. There is a chance though that the month of October was the worst in the current crisis and the reports that will show November indicators will be more optimistic.
EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: sell.
EUR/JPY trend: sell.
| Floor Pivot Points | |||||||
|---|---|---|---|---|---|---|---|
| Pair | 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| EUR/USD | 1.1317 | 1.1824 | 1.2275 | 1.2782 | 1.3233 | 1.3740 | 1.4191 |
| GBP/USD | 1.3952 | 1.4615 | 1.5345 | 1.6008 | 1.6738 | 1.7401 | 1.8131 |
| USD/JPY | 86.15 | 89.10 | 93.78 | 96.73 | 101.41 | 104.36 | 109.04 |
| EUR/JPY | 98.23 | 105.93 | 115.62 | 123.32 | 133.01 | 140.71 | 150.40 |
| Woodie’s Pivot Points | |||||
|---|---|---|---|---|---|
| Pair | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res |
| EUR/USD | 1.1810 | 1.2248 | 1.2768 | 1.3206 | 1.3726 |
| GBP/USD | 1.4615 | 1.5345 | 1.6008 | 1.6738 | 1.7401 |
| USD/JPY | 89.10 | 93.78 | 96.73 | 101.41 | 104.36 |
| EUR/JPY | 105.93 | 115.62 | 123.32 | 133.01 | 140.71 |
| Camarilla Pivot Points | ||||||||
|---|---|---|---|---|---|---|---|---|
| Pair | 4th Sup | 3rd Sup | 2nd Sup | 1st Sup | 1st Res | 2nd Res | 3rd Res | 4th Res |
| EUR/USD | 1.2200 | 1.2464 | 1.2551 | 1.2639 | 1.2815 | 1.2903 | 1.2990 | 1.3254 |
| GBP/USD | 1.5309 | 1.5692 | 1.5820 | 1.5947 | 1.6203 | 1.6330 | 1.6458 | 1.6841 |
| USD/JPY | 94.26 | 96.36 | 97.06 | 97.76 | 99.16 | 99.86 | 100.56 | 102.66 |
| EUR/JPY | 115.74 | 120.52 | 122.11 | 123.71 | 126.89 | 128.49 | 130.08 | 134.86 |
| Tom DeMark’s Pivot Points | ||||
|---|---|---|---|---|
| Pair | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| Resistance | 1.3008 | 1.6373 | 102.89 | 128.17 |
| Support | 1.2050 | 1.4980 | 95.26 | 110.78 |
| Fibonacci Retracement Levels | ||||
|---|---|---|---|---|
| Pairs | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| 100.0% | 1.3288 | 1.6671 | 99.68 | 131.03 |
| 61.8% | 1.2922 | 1.6139 | 96.77 | 124.39 |
| 50.0% | 1.2809 | 1.5975 | 95.87 | 122.34 |
| 38.2% | 1.2696 | 1.5810 | 94.96 | 120.28 |
| 23.6% | 1.2556 | 1.5607 | 93.85 | 117.74 |
| 0.0% | 1.2330 | 1.5278 | 92.05 | 113.64 |
EUR/USD went down today after rising to 1.2897 early today. A bit of optimism brought by the positive Asian trading dissolved fast after European stock markets failed to continue the rally. EUR/USD is currently trading near 1.2776 after housing and manufacturing data releases in U.S.
ISM PMI (manufacturing index) fell from 43.5% to 38.9% in October, while the forecast showed a decline to 42% for the last month.
Construction spending declined by 0.3% in September after remaining unchanged in August. A decline by 0.8% was expected by the market.
EUR/USD dropped today for the second day despite the correctional wave that was forming during the last three days. After peaking at 1.3288 yesterday, the currency pair is now trading near 1.2733 as the traders continue to dump other currencies and buy U.S. dollars.
U.S. personal income rose by 0.2% in September, following 0.4% increase in August and slightly above 0.1% forecast. Personal spending decreased faster than the analytics expected — by 0.3% instead of 0.2%. This decline followed the stagnation in August.
Chicago PMI declined at a surprisingly fast pace in October — from 56.7 to 37.8. Market analytics forecasted a drop 48.0.
Michigan Sentiment Index dropped from 70.3 to 57.6 in October, which is slightly above 57.5 forecast value.