⚒️ Currency Trading Tools
There are many free Forex trading tools designed to enhance the performance of currency traders. Below are some useful online Forex tools.
■ FOREX MARKET SENTIMENT
The market sentiment tool indicates how many traders have taken a specific position in a currency pair. It highlights overall crowd behavior.
■ COMMITMENTS OF TRADERS REPORT
The Commitments of Traders (CFTC) is a weekly report that presents the net non-commercial (speculative) positioning in the US Forex futures market. This report can reveal changes in the positions of 'smart money'. It is released every Friday at 3:30 pm (EST) and reflects positions from the previous Tuesday.
► More about Commitments of Traders on TradingCenter
► CME Group COT | ► Scotia Bank Report
■ PIVOT CALCULATOR
A pivot point is the average of key price levels calculated from a previous trading period.
■ FIBONACCI CALCULATOR
The Fibonacci Calculator can forecast key support and resistance levels based on custom Fibonacci ratios. It can be applied to any financial market—Forex, Equities, Bonds, or Commodities—and on any timeframe. When the price of a financial asset retraces after an uptrend or downtrend, the pullback often follows a specific mathematical pattern. Fibonacci retracement levels are based on core ratios (23.6%, 38.2%, 61.8%, and 78.6%) derived from the Fibonacci sequence, along with the 50.0% level.
► Learn more on Fibonacci Trading | ► Fibonacci Calculator
■ LIVE ECONOMIC CALENDAR
Trading the news is one of the most popular methods for intraday Forex trading. The Forex calendar is designed for traders who focus on fundamental developments in the currency market. However, it is useful for all types of traders. For instance, intraday traders can use a live calendar to steer clear of upcoming news events, thereby reducing market risk. The most impactful news releases include interest rate decisions and the monthly US Non-Farm Payrolls (NFP) report.
► MyFxBook Calendar | ► ForexLive Economic Calendar
■ FOREX PERIODIC STATISTICS
Forex currency fluctuations are strongly influenced by time. Currencies are essentially driven by commercial and broader economic activity, which tends to follow recurring cycles. In this context, Qexpert.com has conducted an analysis of the historical fluctuations of major Forex currency pairs across semesters, months, and quarters. For each currency pair, you can find the average percentage change per period, along with the number of bullish periods (↑) and bearish periods (↓).
■ Trading Foreign Exchange Yearly Calendar
OnlineForex.biz (c) -Analysis by George M. Protonotarios, Financial Analyst
