(5846,1,'2015-04-25 13:59:44','2015-04-25 18:59:44','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 26.04.2015\r\nREFERENCE: #57\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong><strong> </strong>\r\n\r\n<strong>\r\n</strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nThere wasn’t really much at all last week that kept me glued to my computer screens. The DXY touched trend lines, broke through (depending upon how you drew the lines) and bounced around. It was really just a range bound week that was very choppy, and at times both shorts and longs were wiped out as both range extremities were tested. There was one piece of data that hit the wires during the week that created some surprise movement, plus the continued GREECE news.\r\n\r\n<u>SNB NEGATIVE DEPOSIT – RATE AMENDMENT:</u>\r\n\r\nOn Wednesday last week, the SNB announced that they were changing the rules on negative deposit rates. Many people saw this as an easing move by the SNB and as a result the CHF was sold quite aggressively.\r\n\r\nThe USD/CHF came off its base at 0.9500 and rallied to 0.9720. The next day it gave basically all of it back. There were similar moves in the EUR/CHF and GBP/CHF, with huge chunks of the upside moves given back the following day.\r\n\r\nJust to reinforce the type of year I am having in 2015, I had what I call an “ARMEGEDDON” trade in place (one at the extremes) to go long the USD/CHF at 0.9500. It triggered and as I was adjusting my LIMIT I fat fingered it closed at 0.9521. I then set it up again back at 0.9500. 5 minutes later it was at 0.9570, it never pulled back as the market reacted to the SNB data. I took a long trade on a minute pullback, took about 30 pips and was really happy with myself as it pulled back to about 0.9640. I thought I had the top 30 pips or so of the move. Then it took off once again and finished at 0.9720.\r\n\r\nNaturally, the next day I tried to pick it up long as it pulled back and lost 50 pips in about 2 minutes. The drop was a fall like a hot knife through butter and basically the pullback move almost completely retraced the previous day’s move higher.\r\n\r\nThen on Friday, I decided to set two or three what I called “Armageddon” trades. LIMIT ORDERS at extremes. One was for the USD/CHF. Into the close this pair dropped back to 0.9500 on the nose. Not that far away from my “Armageddon” entry.\r\n\r\nThis pair rose 220 pips and gave it all back inside 72 hours that was a stunning move.\r\n\r\n&nbsp;\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nLast Friday we had a EUROGROUP set of meetings with EUROZONE Finance Ministers. When these guys get together it has to be the most boring collection of numpties in the world. Their advisors are pale-faced, ashen looking, never seen much sunlight and wear factor 5,000 sun creams to protect themselves. They optimize the phrase from Blackadder Goes Forth (A brilliant BBC comedy with Rowan Atkinson and Stephen Fry) – these people are “Pen Pushing, Desk Sucking, Jotter-Blotters”.\r\n\r\nJust imagine a room full of accountants educated at Cambridge or Oxford, who would consider those educated at the LSE (The London School of Economics) radical lefties, sitting in a room listening to Yanis aka no tie, Varoufakis (Greece Finance Minister) basically waffling about how Nazi Germany plundered Greek artifacts and owes the country monies back from World War II. This is content for a Ron Howard movie…priceless stuff.\r\n\r\nOn Friday, Bloomberg reported that he (Varoufakis) was considered by his peers to be “A time-waster, a gambler and an amateur”, high praise and very conducive to a GREECE settlement taking place. Varoufakis won’t have a huge Christmas card budget this year for his EUROGROUP buddies. If the boring accountants are this outspoken can you imagine what “The dogs of war” (Scheauble, Nowotny and Weidmann) would be like let 100% loose. I already think that Schaeuble must drink blood and not a burgundy at the Cheese and Wine functions.\r\n\r\nEUROGROUP leader Jeroen Dijsselbloem, tried his best to place a positive spin on events, but “yer man” Varoufakis, basically kicked him in the nuts by stating that they were poles apart from any agreement. I for one would just love to be a fly on the wall at one of these meetings.\r\n\r\nThe CONTAGION looms in my opinion and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This equivalent of a west-end farce played out in front of the world’s media does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nThis is going to eventually end in tears.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nWith the bombings in Yemen, allegedly being suspended, this means that the geographical location fear to OIL supplies being disrupted should be over.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nWe are getting closer to the polling date of May 7<sup>th</sup> 2015. As this date looms the pressure on the cable should grow as uncertainty about the result should intensify. Right now, the voter’s polls, and there are lots of them, have the Labour Party out in front, and if they are not leading it is almost a tie between the Conservatives and Labour parties.\r\n\r\nAt this point it looks like no one party will achieve an overall majority so a hung parliament with a coalition of some sorts looks to be the result.\r\n\r\nAs is with UK politics the party with the greatest number of seats in the House of Commons, has the first bite at trying to form a working coalition. It is very unclear that even if Cameron’s Conservatives won the greatest number of seats whether they would get a working majority.\r\n\r\nThe previous party of coalition, the Liberal–Democrats has performed very poorly and looks like they will not gain many seats that would help the Conservatives to achieve a working majority. Here lies the problem for the Tories, the right wing extremist party UKIP the third potential greatest seat winner wants out of the EUROPEAN UNION. Because of this, an alliance would from a Conservative position alienate huge Conservative support. Where does Cameron go to form a minority government that can hold a majority in parliament to govern?\r\n\r\nAfter the UKIP there is the SNP, however a Scottish vote supporting the Conservative party would be very unpopular in Scotland and would only be a “go-er” if huge concessions were given to Scotland re: power to manage on their own affairs. This then raises the question of Scottish MP’s voting on matters England and Wales, being part of a coalition.\r\n\r\nSo it’s not easy and this will create huge uncertainty as the polling date approaches.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: USD – Consumer Confidence.\r\nTUESDAY: NZD – Trade Balance and ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – Advance GDP.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – RBNZ Rate Statement &amp; Interest Rate.\r\n\r\nTHURSDAY: JPY – BOJ Press Conference &amp; Monetary Policy Statement.\r\nTHURSDAY: EUR – CPi.\r\nTHURSDAY: CAD – GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nWe are in a range bound market. Painful as it is we have to live with it, that is of course, if unlike me, you consider yourself a range trader, in which case the champagne is on you.\r\n\r\nLast week I posted lots of charts to subscribers showing wedges, triangle patterns and lots of trend line support and resistance charts. I did not take or act upon many of the potential set-ups as they fell into place. All last week, there was a nagging feeling around the markets and nothing felt right for me<strong>. </strong>I am not sure if it was the choppiness in GOLD or the speculative moves in OIL? or perhaps it was the geopolitical news events from GREECE? I think when a major chart such as the DXY shows trend line targets in sight the market has jitters and becomes skittish, maybe that was the reason\r\n\r\nWithout doubt we need to break out of the trading ranges. From my perspective a good dose of USD strength to 102.50 should clear matters up once and for all and then we can move on.\r\n\r\nThe Central Banks around the world are also not making matters simple. We are in a currency war and it is a race to the bottom to weaken ones currency. I had thought that this would have dominated events but Central Bank importance comes and goes because we have irrational markets at times.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE CABLE?</strong></p>\r\nEarlier in the blog in section 1.3, I wrote about the geopolitical overhang surrounding the cable regarding the General Election.\r\n\r\nIn this section of the blog I am looking more at the cable short term and medium term through to the votes being counted on May 7<sup>th</sup> at the UK General Election.\r\n\r\nJust so you are all aware right now the PREMIUM SERVICE has a GBP/USD short trade #RT389 from 1.5175, the 161.8% Fibonacci level providing the entry point.\r\n\r\nShort-term I am caught, thinking that the 161.8% fib will hold and this will be a top in the GBP/USD. However, I am also conscious that algorithmic events may see at test of 1.5200 with stops being taken prior to a pullback.\r\n\r\nOverall, however I am for the reasons already written in section 1.3, bearish this pair.\r\n\r\nWe also should consider that many of the GBP cross rate pairs are also at breakout points or breakdown positions pushing resistance.\r\n\r\nI am bearish with my FUNDAMENTAL views, your views as a reader may be Bullish cable. The one thing that I can 100% guarantee you is that there will be break one way or the other and it will happen very, very soon. It will happen prior to the election, there is way too much uncertainty for it not to and this is why I am bearish. Uncertainty usually means bearish activity.\r\n\r\nHowever, I am also prepared for a break higher in the cable and the power of the commodity cross-rate pairs sucking traders into long trades only for a lot of disappointed traders to be left hanging when the bears take control as the election date looms closer.\r\n\r\nLet me make it clear after the election I expect a bounce back in cable. The one thing that I have learnt over the past 8 years of trading is that the markets are perfect as buying or selling the news and then going completely in the opposite direction as the news breaks. With this in mind I am expecting cable to dump and then do a Lazarus or a Carrie rising again. The big $64,000.00 question is when it bounces how strong will it be?\r\n<ol>\r\n	<li>Down then up.</li>\r\n	<li>Up then down then back up again</li>\r\n</ol>\r\nThose are my two thoughts on how cable is going to play out for the next two weeks. I wanted to put this on charts but found it quite difficult as the detail made the charts a little difficult to follow.\r\n\r\nI have a chart included, however, I am hoping that the following will be easy to follow.\r\n\r\nBasically, I expect a bounce after the cable fall and after the votes are counted but, the size and nature of the reverse move back higher will be defined by whether or not we have a majority or minority government. Plus in addition, we have to consider the majority party being one of Labour or Conservative as the market reactions would be different for both parties.\r\n\r\nUsing GBP/USD as a guide, I see it potentially topping at 1.5225-1.5265, but it may not even break 1.5200.\r\n\r\nAs the voting date comes closer and the banter associated with the election intensifies we could see a move lower towards 1.4750 (a move lower of about 450-500 pips). This is similar to the move that was witnessed with the Scottish Independence vote.\r\n\r\nA majority government would provide an explosive bounce through existing highs. I think that this is almost a guarantee. In my opinion, a Conservative majority government would take us back above today’s highs. With a Labour majority government, I would not expect as strong of a bounce back, as the markets will be uncertain of Labour’s delivery of policy and perhaps cable would not get back above 1.5000, but it’s all very unclear and uncertain.\r\n\r\nIf the results give a minority government, the bounce, and true market response, may be stunted the longer it takes to get a minority coalition government in place. There is therefore more potential for a further move lower towards 1.4500 or even lower, should there be a major time delay in forming a government with multiple parties. Any bounce back after a government is formed will be measured by whether it’s the Labour or Conservative party that holds the majority position within the minority government.\r\n\r\nHowever, just to further complicate matters, other events will be in play at the same time, namely GREECE and the FED possibly raising rates, and, maybe no matter what happens, with regards to the future UK government make-up the reversal move may only be a matter of 200 pips or so due to other geopolitical events and central bank activity.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015.png\"><img class=\"aligncenter size-large wp-image-5841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015-1024x517.png\" alt=\"GBPUSD SECT2 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\nLooking at the GBP cross rates.\r\n\r\nThe GBP/AUD for example, could have a significant move lower, we could end up sub 1.9000 around 1.8500-1.8750.\r\n\r\nWith a Labour minority government we could be as low as 1.8000. A Conservative government trying to negotiate a political partner to move forward could also see a move to 1.8000. The potential moves are rather difficult to fully take on board at the moment. But revisiting previous similar situations Forex moves will be swift and at times dramatic.\r\n\r\nThese moves will be even greater with cross rate pairs which are already traded on thinner volume; we really have to be very careful trading these pairs.\r\n\r\nThe ultimate reverse bounce back with GBP/AUD and for that matter with the GBP/CAD and GBP/NZD has the potential to be explosive as Central Bank easing from the RBA and the RBNZ in particular, will complement the reversal move higher. It would be like a double whammy effect, the potential to be very powerful. This week’s RBNZ meeting and statement will give us a better idea of where the RBNZ stand. If they are moving to a very DOVISH / ACCOMODATIVE stance this plays into a GBP/NZD long trade on the bounce.\r\n\r\nIt is a period of uncertainty with Cable and there are many possible outcomes. This makes it a dangerous pair to trade as we get closer to the election date.\r\n\r\nThe bottom line is I believe that there will be the potential for huge moves with all GBP related pairs and we should if previous similar election fallouts are repeated get two or three days of momentum and directional trading.\r\n\r\nIt should be a very interesting next couple of weeks or so.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of the page there are three drop down menus: -\r\n\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nPREMIUM SERVICE subscription prices are below.\r\n\r\n&nbsp;\r\n\r\n<u>COMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:</u>\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was to create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n<u>GOLD MEMBER STATUS:</u>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see below).\r\n\r\n<u>SILVER MEMBER STATUS:</u>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only @PremServSilver.</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nI am hoping to launch this within the next week or so, my proposed pricing covering both GOLD &amp; SILVER subscription options is on the chart below.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\"><img class=\"aligncenter size-full wp-image-5825\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\" alt=\"PS SUBSCRIPTIONS 19042015\" width=\"745\" height=\"486\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 283 trades cost to trade = $28.30\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$399.10</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 283 trades cost to trade = $283.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$3,991.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 283 trades cost to trade = $2,830.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$39,910.00</u></strong></p>\r\n<p style=\"text-align: center;\"><strong><u>\r\nPLEASE NOTE:</u></strong></p>\r\n<p style=\"text-align: center;\">If this sort of risk/reward income opportunity interests you:\r\nTo join the PREMIUM SERVICE at the introductory level subscribe to the initial\r\n4 week subscription and receive a 5<sup>th</sup> week FREE!!See the PROMOTIONS tab on my landing page at\r\n<a href=\"http://www.weeklyfxdrivrethru.com\">www.weeklyfxdrivrethru.com</a>\r\nthis offer ends as soon as the new SILVER subscription level is officially launched.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\"><img class=\"aligncenter size-full wp-image-5813\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\" alt=\"PS PROFIT-LOSS 19042015\" width=\"415\" height=\"585\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5814\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\" alt=\"PS RISK-REWARD 19042015\" width=\"429\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\"><img class=\"aligncenter size-full wp-image-5815\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\" alt=\"PREM SERV PROFITS1 19042015\" width=\"462\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\"><img class=\"aligncenter size-full wp-image-5816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\" alt=\"REM SEWRV PROFITS2 19042015\" width=\"456\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>TRADING HABITS THAT WILL HELP YOU MANAGE YOUR OPEN POSITIONS</strong></p>\r\nWhen trading, actively managing open positions is just as important as coming up with your plan. Here are three tips to help you manage your active trades\r\n<ol>\r\n	<li><strong> KEEP IN TOUCH WITH THE MARKET.</strong></li>\r\n</ol>\r\nWhether you are a hardcore technical or fundamental trader, or maybe a little of both, you cannot deny that economic reports influence price action. This is why it pays to keep tabs on the events that pose risks to your trades.\r\n\r\nSome may say that the market’s reaction to the news is more important than the news itself, but how can you make the most out of a reaction if you have no idea about the news event?\r\n\r\nDon’t forget to always pay attention to potential game changers that might invalidate or at least divert from how you expect your trade to play out.<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> BE FLEXIBLE WITH YOUR TRADING PLAN.</strong></li>\r\n</ol>\r\nIt is very important to be flexible with your trading plan. Of course being “FLEXIBLE” doesn’t mean being totally spontaneous and not following your initial plan at all. It just means that you are making adjustments based on factors that have changed since you made your initial plan.\r\n\r\nBeing flexible requires you to constantly check the validity of your setups as time passes. Also, keep in mind that the longer you keep your trade open, the more you expose it to different event risks. How long did you initially plan to keep your trade open? Is your setup still valid after a few hours, days or even weeks?\r\n\r\nLet’s say you spotted a potential for a double top on the AUD/USD as an intraday trade. You shorted at the “top” and wait for the price action to go down, but after a few trading sessions you see that the pair is just ranging near your entry level. Is your “double top” still valid or should you take your profits early?\r\n<ol start=\"3\">\r\n	<li><strong> UPDATE YOUR ORDERS AND POSITION SIZES.</strong></li>\r\n</ol>\r\nJust because you have the ideal risk-reward ratio and the “fool-proof” trading plan doesn’t mean that you shouldn’t also tweak your order levels and position sizes. Remember you want to minimize your risk.\r\n\r\nIf one or two factors in your trading plan don’t go your way but you think your idea still has merit, you might want to cut back on your position sizes. On the other hand, if you find that the price action turned out to be better than what you expected, you could also consider adjusting your stop losses or taking partial profits. It would be a lot better if these adjustments were included in your initial trading plan in the first place, but better late than unprofitable, right?\r\n\r\nKeep these three simple tips in mind when you trade so you don’t end up wasting your well-thought out trading plans. Before you know it, these practices will have already turned into habits.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nI have spoken at length with several subscribers last week about the current market conditions and I also had a webinar with my peer group of traders earlier this week.\r\n\r\nBasically, I can sum everything that was discussed as follows: -\r\n\r\n<em>“We are in a “DAY TRADING” environment with just very few exceptions. It is a take the money and run market”.</em>\r\n\r\nWithout doubt the profit per trade is different, compared with that of 2014. With regards to pips generated this year, the PREMIUM SERVICE is by some miracle, because, I am not enjoying trading this year as much as last year, ahead of those achieved in 2014.\r\n\r\nTrading is hard this year. As I have said, and no doubt you have read various articles from different sources also, the liquidity in the FX markets is now lower than before. This results in some rather strange moves that when added to the fact we are in a range trading environment with false breaks with lower and higher out of ranges being the norm. So is it any wonder traders are losing money and getting caught more often than not on the wrong side of trades? Hence, we have shorter time framed trades with less $$$ per trade being earned as a result.\r\n\r\nI want to mention RISK OFF.\r\n\r\nLast year, we had comments every trading day about the markets being RISK AVERSE or RISK ON and RISK OFF. This year because we have basically had a one sided market RISK OFF has hardly been mentioned.\r\n\r\nI believe that this will change very soon. Price action in the USD/JPY is weird and lacks correlation with equities more times than not.\r\n\r\nThe inter-market correlations are catching my eyes once again as markets are being stretched. At the extremes, this adds to market volatility and creates uncertainty. The one-sided market has to end soon and at the extremes would seem to be the levels that create hesitation and FEAR of buying at the highs. The GREED factor then enters to ensure that as much $$$$ are pocketed. Just some food for thought as we move forward. This will then bring RISK OFF back into play.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-190420151.png\"><img class=\"aligncenter size-full wp-image-5823\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-190420151.png\" alt=\"PS LIVE TRADES 19042015\" width=\"724\" height=\"506\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-190420151.png\"><img class=\"aligncenter size-full wp-image-5822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-190420151.png\" alt=\"PS LIMIT ORDERS 19042015\" width=\"707\" height=\"407\" /></a>\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nThere are not as many charts this week. I am waiting on GREECE to be sorted out. The EUR crosses do not interest me for now and coming closer to voting in the UK, the GBP crosses are falling back in priority.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-60M-26042015.png\"><img class=\"aligncenter size-large wp-image-5840\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-60M-26042015-1024x517.png\" alt=\"USDJPY 60M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-60M-26042015.png\"><img class=\"aligncenter size-large wp-image-5839\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-60M-26042015-1024x517.png\" alt=\"AUDUSD 60M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURGBP-240M-26042015.png\"><img class=\"aligncenter size-large wp-image-5838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURGBP-240M-26042015-1024x517.png\" alt=\"EURGBP 240M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURJPY-240M-26042015.png\"><img class=\"aligncenter size-large wp-image-5837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURJPY-240M-26042015-1024x517.png\" alt=\"EURJPY 240M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD-W-26042015-1024x517.png\" alt=\"GBPAUD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPCHF-D-26042015.png\"><img class=\"aligncenter size-large wp-image-5835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPCHF-D-26042015-1024x517.png\" alt=\"GBPCHF D 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-W-26042015-1024x517.png\" alt=\"GBPNZD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/TRENDING-PAIRS-19042015.png\"><img class=\"aligncenter size-full wp-image-5824\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/TRENDING-PAIRS-19042015.png\" alt=\"TRENDING PAIRS 19042015\" width=\"412\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.0868.</strong>\r\n\r\nWe are still in a very wide trading range of 1.0470 to 1.1050. As the geopolitical news about GREECE continues to roll on in the media with what seems to be a plethora of alternative deadline dates being quoted as the “FINAL, FINAL ABSOLUTELY BLOODY FINAL DATE”, the pressure intensifies on a resolution being sought.\r\n\r\nFor now however, I am going to stay sidelined until a resolution is made public. Sometimes your best trades are the ones that you do NOT take.\r\n\r\nThe immediate support and resistance is probably 1.0790 to 1.0925.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5831\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-26042015-1024x517.png\" alt=\"EURUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5186</strong>.\r\n\r\nI talked about the engulfing candle last week, and ignored it myself. This pair moved up about 200 pips in the past 7 days. That is 500 pips in the past 14 days…..hmmmn.\r\n\r\nFrom last week:-\r\n\r\n<em>“A weekly engulfing candle is huge for the “big hitters” like the FX banks and the large fund managers / institutional traders as they plan their trading week ahead. It is cable be careful. Nevertheless I am expecting a test of the 61.8% Fibonacci on the back of momentum trading alone and this is at 1.5180. This is assuming that we can break back above 1.5000”.</em>\r\n\r\nNot a bad prediction, where did we close the week 1.5186 versus 1.5180? These Fibonacci levels do work.\r\n\r\nThis week, I am expecting a pullback as we edge closer to the UK election. The trading range should be support around 1.5050 and resistance a little higher at 1.5260. What worries me though is a massive squeeze higher prior to the mother of all pullbacks during the week of May 7<sup>th</sup> (election week).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5830\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-26042015-1024x517.png\" alt=\"GBPUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7813</strong>.\r\n\r\nI am struggling with this pair at the moment.\r\n\r\nI see a top at 0.7840 and this held on Friday, whether it hold this week is debatable. However, at the back of my mind are weakening Iron Ore prices, commodity prices GOLD and COPPER under pressure, and, the RBA looking to cut rates. This pair should be closer to 0.7000 rather than 0.8000. So I am still bearish.\r\n\r\nWe are range bound for now, and what I wrote last week is still valid: –\r\n\r\n<em>“The weekly chart below looks bullish; however we are heading up to the first barrier of resistance at 0.7850. Support is back at 0.7740”.</em>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-26042015-1024x517.png\" alt=\"AUDUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7583</strong>.\r\n\r\nDeputy RBNZ governor Mc Dermott was quoted last week basically stating that the RBNZ were cancelling proposed rate hikes and moving to a more accommodative position.\r\n\r\nNow… remember this guy works for Mr. Indecisive none other than Graeme Wheeler who has two hands that act independently of each other 100% of the time. How he puts on a shirt in the morning must be quite amusing. (Just saying!)\r\n\r\nWe have the RBNZ interest rate announcement and policy statement this coming Wednesday. I am really looking forward to this after the FOMC statement. We need to see some clarity from the RBNZ and not the “Greenspan” approach to communication. We may see a surprise rate cut on Wednesday, but I would not at this stage be mortgaging the house on this eventuality.\r\n\r\nThe range that I am working with is 0.7520 to 0.7640\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5829\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-26042015-1024x517.png\" alt=\"NZDUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2153.</strong>\r\n\r\nI think that 1.2000 is sucking this pair lower. I have my Armageddon trade set up to go long at 1.1950. It looks a way off but do not be fooled, we had a wash out of longs at 1.2350. Now it looks like the market is determined to take out institutional traders that have stops lined up just below the psychological level of 1.2000. After the flush out, I hope that 1.1950 will hold to establish a long trade.\r\n\r\nFor the coming few days I see support at 1.2075 and resistance at 1.2350.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-24042015.png\"><img class=\"aligncenter size-large wp-image-5828\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-24042015-1024x517.png\" alt=\"USDCAD W 24042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9499</strong>.\r\n\r\nNo real change week on week with regards to the closing price. However, this does NOT tell the story of the ride off the lows at 0.9500 up to 0.9720 and then back again to where we started inside 72 hours.\r\n\r\nThere is a danger being long this pair as a GREECE solution is sought from capital flows but the -0.75% interest rate should stop a lot of that movement. But, where does the money go if not to the CHF?\r\n\r\nI have my Armageddon trade placed at 0.9450 to go long…..it may not be low enough!!\r\n\r\nThe SNB are looking to move the currency, they have all but said this recently. The EUR/CHF is closer to parity than 1.1000; the GBP/CHF is closer to 1.4000 than 1.7500.\r\n\r\nDo not rule out a Thomas Jordan (SNB Governor) return in the PEG II.\r\n\r\nI see support at 0.9490 then 0.9450 with resistance at 0.9650 then 0.9720.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5827\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-26042015-1024x517.png\" alt=\"USDCHF W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 118.95. </strong>\r\n\r\nNo change from last week, and the week before for that matter. For three weeks we have closed around this level only to bounce up in the early week trading.\r\n\r\nMy same comments as last week are still valid: -\r\n\r\n<em>“Support at 115.60 and resistance at 122.00, however, we are starting to make a move towards the lower end of the range. I do not want to have everyone getting over excited but my thoughts are that with bond yield moving the pressure on the USD/JPY is intensifying and a move lower is inevitable if the correlation with U.S. treasuries sticks”.</em>\r\n\r\nImmediate support is at 118.20 and resistance back at 119.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-26042015-1024x517.png\" alt=\"USDJPY W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe major news events this week are the FOMC statement, and the RBNZ statement. USD - GDP and Consumer Confidence also stand out, as well as CAD - GBP and AUD - PPi, plus other PMi data is also on the calendar.\r\n\r\nAdd to this the on-going GREECE situation and the UK election and we have quite a few subjects to keep us glued to our computer screens.\r\n\r\nWith GREECE seemingly on the cusp of something, not quite certain what, any open trades or fresh trades placed with EUR or CHF pairs should be monitored very closely. Frankly, it may just be better to leave the EUR and CHF well alone until the GREEK situation is concluded one way or another. This is easier said than done as the desire to trade inside volatility can be too much for many traders to resist.\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. As expected, I suggest that you trade smaller position sizes with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday April 26th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u><u> </u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','WHERE NEXT FOR THE CABLE?','','inherit','open','closed','','5842-revision-v1','','','2015-04-25 13:59:44','2015-04-25 18:59:44','',5842,'https://weeklyfxdrivethru.com/5842-revision-v1/',0,'revision','',0),(5853,1,'2015-04-25 14:19:29','2015-04-25 19:19:29','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5814\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\" alt=\"PS RISK-REWARD 19042015\" width=\"429\" height=\"540\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS</h2>\r\n<h2><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-04-25 14:19:29','2015-04-25 19:19:29','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5854,1,'2015-04-25 14:20:22','2015-04-25 19:20:22','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/STEPS-TO-TAKE-WHEN-FACED-WITH-STRESSFUL-FOREX-SITUATIONS.pdf\">STEPS TO TAKE WHEN FACED WITH STRESSFUL FOREX SITUATIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/TRADING-HABITS-THAT-WILL-HELP-YOU-MANAGE-YOUR-OPEN-POSITIONS.pdf\">TRADING HABITS THAT WILL HELP YOU MANAGE YOUR OPEN POSITIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf\">HOW TO PLAN YOUR FOREX TRADE EXITS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf\">THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/FOUR-PSYCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf\">FOUR PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-MOST-OVERLOOKED-RISKS-IN-TRADING-AND-HOW-TO-ADDRESS-THEM.pdf\">THE MOST OVERLOOKED RISKS IN TRADING AND HOW TO ADDRESS THEM</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/HOW-MUCH-TRADING-CAPITAL-DO-YOU-NEED-FOR-FOREX-TRADING.pdf\">HOW MUCH TRADING CAPITAL DO YOU NEED FOR FOREX TRADING</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-04-25 14:20:22','2015-04-25 19:20:22','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5855,1,'2015-04-25 14:37:18','2015-04-25 19:37:18','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 26.04.2015\r\nREFERENCE: #150\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nThere wasn’t really much at all last week that kept me glued to my computer screens. The DXY touched trend lines, broke through (depending upon how you drew the lines) and bounced around. It was really just a range bound week that was very choppy, and at times both shorts and longs were wiped out as both range extremities were tested. There was one piece of data that hit the wires during the week that created some surprise movement, plus the continued GREECE news.\r\n\r\n<u>SNB NEGATIVE DEPOSIT – RATE AMENDMENT:</u>\r\n\r\nOn Wednesday last week, the SNB announced that they were changing the rules on negative deposit rates. Many people saw this as an easing move by the SNB and as a result the CHF was sold quite aggressively.\r\n\r\nThe USD/CHF came off its base at 0.9500 and rallied to 0.9720. The next day it gave basically all of it back. There were similar moves in the EUR/CHF and GBP/CHF, with huge chunks of the upside moves given back the following day.\r\n\r\nJust to reinforce the type of year I am having in 2015, I had what I call an “ARMEGEDDON” trade in place (one at the extremes) to go long the USD/CHF at 0.9500. It triggered and as I was adjusting my LIMIT I fat fingered it closed at 0.9521. I then set it up again back at 0.9500. 5 minutes later it was at 0.9570, it never pulled back as the market reacted to the SNB data. I took a long trade on a minute pullback, took about 30 pips and was really happy with myself as it pulled back to about 0.9640. I thought I had the top 30 pips or so of the move. Then it took off once again and finished at 0.9720.\r\n\r\nNaturally, the next day I tried to pick it up long as it pulled back and lost 50 pips in about 2 minutes. The drop was a fall like a hot knife through butter and basically the pullback move almost completely retraced the previous day’s move higher.\r\n\r\nThen on Friday, I decided to set two or three what I called “Armageddon” trades. LIMIT ORDERS at extremes. One was for the USD/CHF. Into the close this pair dropped back to 0.9500 on the nose. Not that far away from my “Armageddon” entry.\r\n\r\nThis pair rose 220 pips and gave it all back inside 72 hours that was a stunning move.\r\n\r\n&nbsp;\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nLast Friday we had a EUROGROUP set of meetings with EUROZONE Finance Ministers. When these guys get together it has to be the most boring collection of numpties in the world. Their advisors are pale-faced, ashen looking, never seen much sunlight and wear factor 5,000 sun creams to protect themselves. They optimize the phrase from Blackadder Goes Forth (A brilliant BBC comedy with Rowan Atkinson and Stephen Fry) – these people are “Pen Pushing, Desk Sucking, Jotter-Blotters”.\r\n\r\nJust imagine a room full of accountants educated at Cambridge or Oxford, who would consider those educated at the LSE (The London School of Economics) radical lefties, sitting in a room listening to Yanis aka no tie, Varoufakis (Greece Finance Minister) basically waffling about how Nazi Germany plundered Greek artifacts and owes the country monies back from World War II. This is content for a Ron Howard movie…priceless stuff.\r\n\r\nOn Friday, Bloomberg reported that he (Varoufakis) was considered by his peers to be “A time-waster, a gambler and an amateur”, high praise and very conducive to a GREECE settlement taking place. Varoufakis won’t have a huge Christmas card budget this year for his EUROGROUP buddies. If the boring accountants are this outspoken can you imagine what “The dogs of war” (Scheauble, Nowotny and Weidmann) would be like let 100% loose. I already think that Schaeuble must drink blood and not a burgundy at the Cheese and Wine functions.\r\n\r\nEUROGROUP leader Jeroen Dijsselbloem, tried his best to place a positive spin on events, but “yer man” Varoufakis, basically kicked him in the nuts by stating that they were poles apart from any agreement. I for one would just love to be a fly on the wall at one of these meetings.\r\n\r\nThe CONTAGION looms in my opinion and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This equivalent of a west-end farce played out in front of the world’s media does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nThis is going to eventually end in tears.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nWith the bombings in Yemen, allegedly being suspended, this means that the geographical location fear to OIL supplies being disrupted should be over.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nWe are getting closer to the polling date of May 7<sup>th</sup> 2015. As this date looms the pressure on the cable should grow as uncertainty about the result should intensify. Right now, the voter’s polls, and there are lots of them, have the Labour Party out in front, and if they are not leading it is almost a tie between the Conservatives and Labour parties.\r\n\r\nAt this point it looks like no one party will achieve an overall majority so a hung parliament with a coalition of some sorts looks to be the result.\r\n\r\nAs is with UK politics the party with the greatest number of seats in the House of Commons, has the first bite at trying to form a working coalition. It is very unclear that even if Cameron’s Conservatives won the greatest number of seats whether they would get a working majority.\r\n\r\nThe previous party of coalition, the Liberal–Democrats has performed very poorly and looks like they will not gain many seats that would help the Conservatives to achieve a working majority. Here lies the problem for the Tories, the right wing extremist party UKIP the third potential greatest seat winner wants out of the EUROPEAN UNION. Because of this, an alliance would from a Conservative position alienate huge Conservative support. Where does Cameron go to form a minority government that can hold a majority in parliament to govern?\r\n\r\nAfter the UKIP there is the SNP, however a Scottish vote supporting the Conservative party would be very unpopular in Scotland and would only be a “go-er” if huge concessions were given to Scotland re: power to manage on their own affairs. This then raises the question of Scottish MP’s voting on matters England and Wales, being part of a coalition.\r\n\r\nSo it’s not easy and this will create huge uncertainty as the polling date approaches.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: USD – Consumer Confidence.\r\nTUESDAY: NZD – Trade Balance and ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – Advance GDP.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – RBNZ Rate Statement &amp; Interest Rate.\r\n\r\nTHURSDAY: JPY – BOJ Press Conference &amp; Monetary Policy Statement.\r\nTHURSDAY: EUR – CPi.\r\nTHURSDAY: CAD – GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nWe are in a range bound market. Painful as it is we have to live with it, that is of course, if unlike me, you consider yourself a range trader, in which case the champagne is on you.\r\n\r\nLast week I posted lots of charts to subscribers showing wedges, triangle patterns and lots of trend line support and resistance charts. I did not take or act upon many of the potential set-ups as they fell into place. All last week, there was a nagging feeling around the markets and nothing felt right for me<strong>. </strong>I am not sure if it was the choppiness in GOLD or the speculative moves in OIL? or perhaps it was the geopolitical news events from GREECE? I think when a major chart such as the DXY shows trend line targets in sight the market has jitters and becomes skittish, maybe that was the reason.\r\n\r\nWithout doubt we need to break out of the trading ranges. From my perspective a good dose of USD strength to 102.50 should clear matters up once and for all and then we can move on.\r\n\r\nThe Central Banks around the world are also not making matters simple. We are in a currency war and it is a race to the bottom to weaken ones currency. I had thought that this would have dominated events but Central Bank importance comes and goes because we have irrational markets at times.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE CABLE?</strong></p>\r\nEarlier in the blog in section 1.3, I wrote about the geopolitical overhang surrounding the cable regarding the General Election.\r\n\r\nIn this section of the blog I am looking more at the cable short term and medium term through to the votes being counted on May 7<sup>th</sup> at the UK General Election.\r\n\r\nJust so you are all aware right now the PREMIUM SERVICE has a GBP/USD short trade #RT389 from 1.5175, the 161.8% Fibonacci level providing the entry point.\r\n\r\nShort-term I am caught, thinking that the 161.8% fib will hold and this will be a top in the GBP/USD. However, I am also conscious that algorithmic events may see at test of 1.5200 with stops being taken prior to a pullback.\r\n\r\nOverall, however I am for the reasons already written in section 1.3, bearish this pair.\r\n\r\nWe also should consider that many of the GBP cross rate pairs are also at breakout points or breakdown positions pushing resistance.\r\n\r\nI am bearish with my FUNDAMENTAL views, your views as a reader may be Bullish cable. The one thing that I can 100% guarantee you is that there will be break one way or the other and it will happen very, very soon. It will happen prior to the election, there is way too much uncertainty for it not to and this is why I am bearish. Uncertainty usually means bearish activity.\r\n\r\nHowever, I am also prepared for a break higher in the cable and the power of the commodity cross-rate pairs sucking traders into long trades only for a lot of disappointed traders to be left hanging when the bears take control as the election date looms closer.\r\n\r\nLet me make it clear after the election I expect a bounce back in cable. The one thing that I have learnt over the past 8 years of trading is that the markets are perfect as buying or selling the news and then going completely in the opposite direction as the news breaks. With this in mind I am expecting cable to dump and then do a Lazarus or a Carrie rising again. The big $64,000.00 question is when it bounces how strong will it be?\r\n<ol>\r\n	<li>Down then up.</li>\r\n	<li>Up then down then back up again</li>\r\n</ol>\r\nThose are my two thoughts on how cable is going to play out for the next two weeks. I wanted to put this on charts but found it quite difficult as the detail made the charts a little difficult to follow.\r\n\r\nI have a chart included, however, I am hoping that the following will be easy to follow.\r\n\r\nBasically, I expect a bounce after the cable fall and after the votes are counted but, the size and nature of the reverse move back higher will be defined by whether or not we have a majority or minority government. Plus in addition, we have to consider the majority party being one of Labour or Conservative as the market reactions would be different for both parties.\r\n\r\nUsing GBP/USD as a guide, I see it potentially topping at 1.5225-1.5265, but it may not even break 1.5200.\r\n\r\nAs the voting date comes closer and the banter associated with the election intensifies we could see a move lower towards 1.4750 (a move lower of about 450-500 pips). This is similar to the move that was witnessed with the Scottish Independence vote.\r\n\r\nA majority government would provide an explosive bounce through existing highs. I think that this is almost a guarantee. In my opinion, a Conservative majority government would take us back above today’s highs. With a Labour majority government, I would not expect as strong of a bounce back, as the markets will be uncertain of Labour’s delivery of policy and perhaps cable would not get back above 1.5000, but it’s all very unclear and uncertain.\r\n\r\nIf the results give a minority government, the bounce, and true market response, may be stunted the longer it takes to get a minority coalition government in place. There is therefore more potential for a further move lower towards 1.4500 or even lower, should there be a major time delay in forming a government with multiple parties. Any bounce back after a government is formed will be measured by whether it’s the Labour or Conservative party that holds the majority position within the minority government.\r\n\r\nHowever, just to further complicate matters, other events will be in play at the same time, namely GREECE and the FED possibly raising rates, and, maybe no matter what happens, with regards to the future UK government make-up the reversal move may only be a matter of 200 pips or so due to other geopolitical events and central bank activity.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015.png\"><img class=\"aligncenter size-large wp-image-5841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015-1024x517.png\" alt=\"GBPUSD SECT2 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\nLooking at the GBP cross rates.\r\n\r\nThe GBP/AUD for example, could have a significant move lower, we could end up sub 1.9000 around 1.8500-1.8750.\r\n\r\nWith a Labour minority government we could be as low as 1.8000. A Conservative government trying to negotiate a political partner to move forward could also see a move to 1.8000. The potential moves are rather difficult to fully take on board at the moment. But revisiting previous similar situations Forex moves will be swift and at times dramatic.\r\n\r\nThese moves will be even greater with cross rate pairs which are already traded on thinner volume; we really have to be very careful trading these pairs.\r\n\r\nThe ultimate reverse bounce back with GBP/AUD and for that matter with the GBP/CAD and GBP/NZD has the potential to be explosive as Central Bank easing from the RBA and the RBNZ in particular, will complement the reversal move higher. It would be like a double whammy effect, the potential to be very powerful. This week’s RBNZ meeting and statement will give us a better idea of where the RBNZ stand. If they are moving to a very DOVISH / ACCOMODATIVE stance this plays into a GBP/NZD long trade on the bounce.\r\n\r\nIt is a period of uncertainty with Cable and there are many possible outcomes. This makes it a dangerous pair to trade as we get closer to the election date.\r\n\r\nThe bottom line is I believe that there will be the potential for huge moves with all GBP related pairs and we should if previous similar election fallouts are repeated get two or three days of momentum and directional trading.\r\n\r\nIt should be a very interesting next couple of weeks or so.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n\r\n</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of the page there are three drop down menus: -\r\n\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nPREMIUM SERVICE subscription prices are below.\r\n\r\n&nbsp;\r\n\r\n<u>COMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:</u>\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was to create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n<u>GOLD MEMBER STATUS:</u>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see below).\r\n\r\n<u>SILVER MEMBER STATUS:</u>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only @PremServSilver.</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nI am hoping to launch this within the next week or so, my proposed pricing covering both GOLD &amp; SILVER subscription options is on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\"><img class=\"aligncenter size-full wp-image-5825\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\" alt=\"PS SUBSCRIPTIONS 19042015\" width=\"745\" height=\"486\" /></a>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n\r\n</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 283 trades cost to trade = $28.30\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$399.10</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 283 trades cost to trade = $283.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$3,991.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 283 trades cost to trade = $2,830.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$39,910.00</u></strong></p>\r\n<p style=\"text-align: center;\"><strong><u>PLEASE NOTE:\r\n</u></strong>If this sort of risk/reward income opportunity interests you:\r\nTo join the PREMIUM SERVICE at the introductory level subscribe to the initial\r\n4 week subscription and receive a 5<sup>th</sup> week FREE!!\r\nSee the PROMOTIONS tab on my landing page at\r\n<a href=\"http://www.weeklyfxdrivrethru.com\">www.weeklyfxdrivrethru.com</a>\r\nthis offer ends as soon as the new SILVER subscription level is officially launched.</p>\r\n<p style=\"text-align: center;\"></p>\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\"><img class=\"aligncenter size-full wp-image-5813\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\" alt=\"PS PROFIT-LOSS 19042015\" width=\"415\" height=\"585\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5814\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\" alt=\"PS RISK-REWARD 19042015\" width=\"429\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\"><img class=\"aligncenter size-full wp-image-5815\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\" alt=\"PREM SERV PROFITS1 19042015\" width=\"462\" height=\"424\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\"><img class=\"aligncenter size-full wp-image-5816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\" alt=\"REM SEWRV PROFITS2 19042015\" width=\"456\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n\r\n</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe major news events this week are the FOMC statement, and the RBNZ statement. USD - GDP and Consumer Confidence also stand out, as well as CAD - GBP and AUD - PPi, plus other PMi data is also on the calendar.\r\n\r\nAdd to this the on-going GREECE situation and the UK election and we have quite a few subjects to keep us glued to our computer screens.\r\n\r\nWith GREECE seemingly on the cusp of something, not quite certain what, any open trades or fresh trades placed with EUR or CHF pairs should be monitored very closely. Frankly, it may just be better to leave the EUR and CHF well alone until the GREEK situation is concluded one way or another. This is easier said than done as the desire to trade inside volatility can be too much for many traders to resist.\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. As expected, I suggest that you trade smaller position sizes with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday April 26th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','WHERE NEXT FOR THE CABLE?','','publish','open','closed','','where-next-for-the-cable','','','2015-04-25 14:37:18','2015-04-25 19:37:18','',0,'https://weeklyfxdrivethru.com/?p=5855',0,'post','',0),(5856,1,'2015-04-25 14:37:18','2015-04-25 19:37:18','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 26.04.2015\r\nREFERENCE: #150\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nThere wasn’t really much at all last week that kept me glued to my computer screens. The DXY touched trend lines, broke through (depending upon how you drew the lines) and bounced around. It was really just a range bound week that was very choppy, and at times both shorts and longs were wiped out as both range extremities were tested. There was one piece of data that hit the wires during the week that created some surprise movement, plus the continued GREECE news.\r\n\r\n<u>SNB NEGATIVE DEPOSIT – RATE AMENDMENT:</u>\r\n\r\nOn Wednesday last week, the SNB announced that they were changing the rules on negative deposit rates. Many people saw this as an easing move by the SNB and as a result the CHF was sold quite aggressively.\r\n\r\nThe USD/CHF came off its base at 0.9500 and rallied to 0.9720. The next day it gave basically all of it back. There were similar moves in the EUR/CHF and GBP/CHF, with huge chunks of the upside moves given back the following day.\r\n\r\nJust to reinforce the type of year I am having in 2015, I had what I call an “ARMEGEDDON” trade in place (one at the extremes) to go long the USD/CHF at 0.9500. It triggered and as I was adjusting my LIMIT I fat fingered it closed at 0.9521. I then set it up again back at 0.9500. 5 minutes later it was at 0.9570, it never pulled back as the market reacted to the SNB data. I took a long trade on a minute pullback, took about 30 pips and was really happy with myself as it pulled back to about 0.9640. I thought I had the top 30 pips or so of the move. Then it took off once again and finished at 0.9720.\r\n\r\nNaturally, the next day I tried to pick it up long as it pulled back and lost 50 pips in about 2 minutes. The drop was a fall like a hot knife through butter and basically the pullback move almost completely retraced the previous day’s move higher.\r\n\r\nThen on Friday, I decided to set two or three what I called “Armageddon” trades. LIMIT ORDERS at extremes. One was for the USD/CHF. Into the close this pair dropped back to 0.9500 on the nose. Not that far away from my “Armageddon” entry.\r\n\r\nThis pair rose 220 pips and gave it all back inside 72 hours that was a stunning move.\r\n\r\n&nbsp;\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nLast Friday we had a EUROGROUP set of meetings with EUROZONE Finance Ministers. When these guys get together it has to be the most boring collection of numpties in the world. Their advisors are pale-faced, ashen looking, never seen much sunlight and wear factor 5,000 sun creams to protect themselves. They optimize the phrase from Blackadder Goes Forth (A brilliant BBC comedy with Rowan Atkinson and Stephen Fry) – these people are “Pen Pushing, Desk Sucking, Jotter-Blotters”.\r\n\r\nJust imagine a room full of accountants educated at Cambridge or Oxford, who would consider those educated at the LSE (The London School of Economics) radical lefties, sitting in a room listening to Yanis aka no tie, Varoufakis (Greece Finance Minister) basically waffling about how Nazi Germany plundered Greek artifacts and owes the country monies back from World War II. This is content for a Ron Howard movie…priceless stuff.\r\n\r\nOn Friday, Bloomberg reported that he (Varoufakis) was considered by his peers to be “A time-waster, a gambler and an amateur”, high praise and very conducive to a GREECE settlement taking place. Varoufakis won’t have a huge Christmas card budget this year for his EUROGROUP buddies. If the boring accountants are this outspoken can you imagine what “The dogs of war” (Scheauble, Nowotny and Weidmann) would be like let 100% loose. I already think that Schaeuble must drink blood and not a burgundy at the Cheese and Wine functions.\r\n\r\nEUROGROUP leader Jeroen Dijsselbloem, tried his best to place a positive spin on events, but “yer man” Varoufakis, basically kicked him in the nuts by stating that they were poles apart from any agreement. I for one would just love to be a fly on the wall at one of these meetings.\r\n\r\nThe CONTAGION looms in my opinion and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This equivalent of a west-end farce played out in front of the world’s media does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nThis is going to eventually end in tears.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nWith the bombings in Yemen, allegedly being suspended, this means that the geographical location fear to OIL supplies being disrupted should be over.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nWe are getting closer to the polling date of May 7<sup>th</sup> 2015. As this date looms the pressure on the cable should grow as uncertainty about the result should intensify. Right now, the voter’s polls, and there are lots of them, have the Labour Party out in front, and if they are not leading it is almost a tie between the Conservatives and Labour parties.\r\n\r\nAt this point it looks like no one party will achieve an overall majority so a hung parliament with a coalition of some sorts looks to be the result.\r\n\r\nAs is with UK politics the party with the greatest number of seats in the House of Commons, has the first bite at trying to form a working coalition. It is very unclear that even if Cameron’s Conservatives won the greatest number of seats whether they would get a working majority.\r\n\r\nThe previous party of coalition, the Liberal–Democrats has performed very poorly and looks like they will not gain many seats that would help the Conservatives to achieve a working majority. Here lies the problem for the Tories, the right wing extremist party UKIP the third potential greatest seat winner wants out of the EUROPEAN UNION. Because of this, an alliance would from a Conservative position alienate huge Conservative support. Where does Cameron go to form a minority government that can hold a majority in parliament to govern?\r\n\r\nAfter the UKIP there is the SNP, however a Scottish vote supporting the Conservative party would be very unpopular in Scotland and would only be a “go-er” if huge concessions were given to Scotland re: power to manage on their own affairs. This then raises the question of Scottish MP’s voting on matters England and Wales, being part of a coalition.\r\n\r\nSo it’s not easy and this will create huge uncertainty as the polling date approaches.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: USD – Consumer Confidence.\r\nTUESDAY: NZD – Trade Balance and ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – Advance GDP.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – RBNZ Rate Statement &amp; Interest Rate.\r\n\r\nTHURSDAY: JPY – BOJ Press Conference &amp; Monetary Policy Statement.\r\nTHURSDAY: EUR – CPi.\r\nTHURSDAY: CAD – GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nWe are in a range bound market. Painful as it is we have to live with it, that is of course, if unlike me, you consider yourself a range trader, in which case the champagne is on you.\r\n\r\nLast week I posted lots of charts to subscribers showing wedges, triangle patterns and lots of trend line support and resistance charts. I did not take or act upon many of the potential set-ups as they fell into place. All last week, there was a nagging feeling around the markets and nothing felt right for me<strong>. </strong>I am not sure if it was the choppiness in GOLD or the speculative moves in OIL? or perhaps it was the geopolitical news events from GREECE? I think when a major chart such as the DXY shows trend line targets in sight the market has jitters and becomes skittish, maybe that was the reason.\r\n\r\nWithout doubt we need to break out of the trading ranges. From my perspective a good dose of USD strength to 102.50 should clear matters up once and for all and then we can move on.\r\n\r\nThe Central Banks around the world are also not making matters simple. We are in a currency war and it is a race to the bottom to weaken ones currency. I had thought that this would have dominated events but Central Bank importance comes and goes because we have irrational markets at times.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE CABLE?</strong></p>\r\nEarlier in the blog in section 1.3, I wrote about the geopolitical overhang surrounding the cable regarding the General Election.\r\n\r\nIn this section of the blog I am looking more at the cable short term and medium term through to the votes being counted on May 7<sup>th</sup> at the UK General Election.\r\n\r\nJust so you are all aware right now the PREMIUM SERVICE has a GBP/USD short trade #RT389 from 1.5175, the 161.8% Fibonacci level providing the entry point.\r\n\r\nShort-term I am caught, thinking that the 161.8% fib will hold and this will be a top in the GBP/USD. However, I am also conscious that algorithmic events may see at test of 1.5200 with stops being taken prior to a pullback.\r\n\r\nOverall, however I am for the reasons already written in section 1.3, bearish this pair.\r\n\r\nWe also should consider that many of the GBP cross rate pairs are also at breakout points or breakdown positions pushing resistance.\r\n\r\nI am bearish with my FUNDAMENTAL views, your views as a reader may be Bullish cable. The one thing that I can 100% guarantee you is that there will be break one way or the other and it will happen very, very soon. It will happen prior to the election, there is way too much uncertainty for it not to and this is why I am bearish. Uncertainty usually means bearish activity.\r\n\r\nHowever, I am also prepared for a break higher in the cable and the power of the commodity cross-rate pairs sucking traders into long trades only for a lot of disappointed traders to be left hanging when the bears take control as the election date looms closer.\r\n\r\nLet me make it clear after the election I expect a bounce back in cable. The one thing that I have learnt over the past 8 years of trading is that the markets are perfect as buying or selling the news and then going completely in the opposite direction as the news breaks. With this in mind I am expecting cable to dump and then do a Lazarus or a Carrie rising again. The big $64,000.00 question is when it bounces how strong will it be?\r\n<ol>\r\n	<li>Down then up.</li>\r\n	<li>Up then down then back up again</li>\r\n</ol>\r\nThose are my two thoughts on how cable is going to play out for the next two weeks. I wanted to put this on charts but found it quite difficult as the detail made the charts a little difficult to follow.\r\n\r\nI have a chart included, however, I am hoping that the following will be easy to follow.\r\n\r\nBasically, I expect a bounce after the cable fall and after the votes are counted but, the size and nature of the reverse move back higher will be defined by whether or not we have a majority or minority government. Plus in addition, we have to consider the majority party being one of Labour or Conservative as the market reactions would be different for both parties.\r\n\r\nUsing GBP/USD as a guide, I see it potentially topping at 1.5225-1.5265, but it may not even break 1.5200.\r\n\r\nAs the voting date comes closer and the banter associated with the election intensifies we could see a move lower towards 1.4750 (a move lower of about 450-500 pips). This is similar to the move that was witnessed with the Scottish Independence vote.\r\n\r\nA majority government would provide an explosive bounce through existing highs. I think that this is almost a guarantee. In my opinion, a Conservative majority government would take us back above today’s highs. With a Labour majority government, I would not expect as strong of a bounce back, as the markets will be uncertain of Labour’s delivery of policy and perhaps cable would not get back above 1.5000, but it’s all very unclear and uncertain.\r\n\r\nIf the results give a minority government, the bounce, and true market response, may be stunted the longer it takes to get a minority coalition government in place. There is therefore more potential for a further move lower towards 1.4500 or even lower, should there be a major time delay in forming a government with multiple parties. Any bounce back after a government is formed will be measured by whether it’s the Labour or Conservative party that holds the majority position within the minority government.\r\n\r\nHowever, just to further complicate matters, other events will be in play at the same time, namely GREECE and the FED possibly raising rates, and, maybe no matter what happens, with regards to the future UK government make-up the reversal move may only be a matter of 200 pips or so due to other geopolitical events and central bank activity.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015.png\"><img class=\"aligncenter size-large wp-image-5841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015-1024x517.png\" alt=\"GBPUSD SECT2 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\nLooking at the GBP cross rates.\r\n\r\nThe GBP/AUD for example, could have a significant move lower, we could end up sub 1.9000 around 1.8500-1.8750.\r\n\r\nWith a Labour minority government we could be as low as 1.8000. A Conservative government trying to negotiate a political partner to move forward could also see a move to 1.8000. The potential moves are rather difficult to fully take on board at the moment. But revisiting previous similar situations Forex moves will be swift and at times dramatic.\r\n\r\nThese moves will be even greater with cross rate pairs which are already traded on thinner volume; we really have to be very careful trading these pairs.\r\n\r\nThe ultimate reverse bounce back with GBP/AUD and for that matter with the GBP/CAD and GBP/NZD has the potential to be explosive as Central Bank easing from the RBA and the RBNZ in particular, will complement the reversal move higher. It would be like a double whammy effect, the potential to be very powerful. This week’s RBNZ meeting and statement will give us a better idea of where the RBNZ stand. If they are moving to a very DOVISH / ACCOMODATIVE stance this plays into a GBP/NZD long trade on the bounce.\r\n\r\nIt is a period of uncertainty with Cable and there are many possible outcomes. This makes it a dangerous pair to trade as we get closer to the election date.\r\n\r\nThe bottom line is I believe that there will be the potential for huge moves with all GBP related pairs and we should if previous similar election fallouts are repeated get two or three days of momentum and directional trading.\r\n\r\nIt should be a very interesting next couple of weeks or so.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n\r\n</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of the page there are three drop down menus: -\r\n\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nPREMIUM SERVICE subscription prices are below.\r\n\r\n&nbsp;\r\n\r\n<u>COMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:</u>\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was to create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n<u>GOLD MEMBER STATUS:</u>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see below).\r\n\r\n<u>SILVER MEMBER STATUS:</u>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only @PremServSilver.</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nI am hoping to launch this within the next week or so, my proposed pricing covering both GOLD &amp; SILVER subscription options is on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\"><img class=\"aligncenter size-full wp-image-5825\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\" alt=\"PS SUBSCRIPTIONS 19042015\" width=\"745\" height=\"486\" /></a>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n\r\n</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 283 trades cost to trade = $28.30\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$399.10</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 283 trades cost to trade = $283.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$3,991.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 283 trades cost to trade = $2,830.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$39,910.00</u></strong></p>\r\n<p style=\"text-align: center;\"><strong><u>PLEASE NOTE:\r\n</u></strong>If this sort of risk/reward income opportunity interests you:\r\nTo join the PREMIUM SERVICE at the introductory level subscribe to the initial\r\n4 week subscription and receive a 5<sup>th</sup> week FREE!!\r\nSee the PROMOTIONS tab on my landing page at\r\n<a href=\"http://www.weeklyfxdrivrethru.com\">www.weeklyfxdrivrethru.com</a>\r\nthis offer ends as soon as the new SILVER subscription level is officially launched.</p>\r\n<p style=\"text-align: center;\"></p>\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\"><img class=\"aligncenter size-full wp-image-5813\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\" alt=\"PS PROFIT-LOSS 19042015\" width=\"415\" height=\"585\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5814\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\" alt=\"PS RISK-REWARD 19042015\" width=\"429\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\"><img class=\"aligncenter size-full wp-image-5815\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\" alt=\"PREM SERV PROFITS1 19042015\" width=\"462\" height=\"424\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\"><img class=\"aligncenter size-full wp-image-5816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\" alt=\"REM SEWRV PROFITS2 19042015\" width=\"456\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n\r\n</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe major news events this week are the FOMC statement, and the RBNZ statement. USD - GDP and Consumer Confidence also stand out, as well as CAD - GBP and AUD - PPi, plus other PMi data is also on the calendar.\r\n\r\nAdd to this the on-going GREECE situation and the UK election and we have quite a few subjects to keep us glued to our computer screens.\r\n\r\nWith GREECE seemingly on the cusp of something, not quite certain what, any open trades or fresh trades placed with EUR or CHF pairs should be monitored very closely. Frankly, it may just be better to leave the EUR and CHF well alone until the GREEK situation is concluded one way or another. This is easier said than done as the desire to trade inside volatility can be too much for many traders to resist.\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. As expected, I suggest that you trade smaller position sizes with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday April 26th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','WHERE NEXT FOR THE CABLE?','','inherit','open','closed','','5855-revision-v1','','','2015-04-25 14:37:18','2015-04-25 19:37:18','',5855,'https://weeklyfxdrivethru.com/5855-revision-v1/',0,'revision','',0),(5874,1,'2015-04-28 13:37:16','2015-04-28 18:37:16','<h1>THE PREMIUM SERVICE\r\nGOLD SUBSCRIBER AREA.</h1>\r\n&nbsp;\r\n\r\n<section class=\"members\">\r\n<h4>Welcome to the PREMIUM SERVICE (GOLD MEMBERSHIP) section of the WEEKLY FX DRIVE THRU.</h4>\r\nThank you for your subscription. I hope that you will find the content inside the PREMIUM SERVICE subscriber section of great use to support your Forex Trading. Inside you will find a library of exclusive content to aid your Forex Trading.\r\n<ul>\r\n	<li>There are copies of the PREMIUM SERVICE versions of my main blog THE WEEKLY FX DRIVE THRU.</li>\r\n	<li>Dates of upcoming webinars.</li>\r\n	<li>Confirmation of the release dates of the WEEKLY FX DRIVE THRU blog.</li>\r\n	<li>Under the TRADING SUMMARIES section there is a complete summary of all the excel spreadsheets that were published in the “WEEKLY” blog that support the PREMIUM SERVICE performance.</li>\r\n	<li>Inside the EDUCATION section everything you need from a FX Glossary to how to read Candlestick charts as well as a full list of Trading Essentials articles from the WEEKLY FX DRIVE THRU.</li>\r\n	<li>Details about one-on-one coaching and mentoring programs.</li>\r\n	<li>Entrance to the Chat Room (coming soon).</li>\r\n	<li>Finally a complete list of my BUSINESS PARTNERS. If you want to partner closer with the PREMIUM SERVICE and wish to avail of my partners services just click on their banner anywhere on my website.</li>\r\n</ul>\r\n<h4>PLEASE NOTE:</h4>\r\nDates of sales presentations and general Forex based seminars with or without my BUSINESS PARTNERS are noted on the welcome page on the WEEKLY FX DRIVE THRU. The appropriate tab is at the top of the welcome page.\r\n\r\n</section>','Welcome','','inherit','open','closed','','2154-revision-v1','','','2015-04-28 13:37:16','2015-04-28 18:37:16','',2154,'https://weeklyfxdrivethru.com/2154-revision-v1/',0,'revision','',0),(5875,1,'2015-04-28 13:37:59','2015-04-28 18:37:59','<h1>THE PREMIUM SERVICE\r\nGOLD SUBSCRIBER AREA</h1>\r\n&nbsp;\r\n\r\n<section class=\"members\">\r\n<h4>Welcome to the PREMIUM SERVICE (GOLD MEMBERSHIP) section of the WEEKLY FX DRIVE THRU.</h4>\r\nThank you for your subscription. I hope that you will find the content inside the PREMIUM SERVICE subscriber section of great use to support your Forex Trading. Inside you will find a library of exclusive content to aid your Forex Trading.\r\n<ul>\r\n	<li>There are copies of the PREMIUM SERVICE versions of my main blog THE WEEKLY FX DRIVE THRU.</li>\r\n	<li>Dates of upcoming webinars.</li>\r\n	<li>Confirmation of the release dates of the WEEKLY FX DRIVE THRU blog.</li>\r\n	<li>Under the TRADING SUMMARIES section there is a complete summary of all the excel spreadsheets that were published in the “WEEKLY” blog that support the PREMIUM SERVICE performance.</li>\r\n	<li>Inside the EDUCATION section everything you need from a FX Glossary to how to read Candlestick charts as well as a full list of Trading Essentials articles from the WEEKLY FX DRIVE THRU.</li>\r\n	<li>Details about one-on-one coaching and mentoring programs.</li>\r\n	<li>Entrance to the Chat Room (coming soon).</li>\r\n	<li>Finally a complete list of my BUSINESS PARTNERS. If you want to partner closer with the PREMIUM SERVICE and wish to avail of my partners services just click on their banner anywhere on my website.</li>\r\n</ul>\r\n<h4>PLEASE NOTE:</h4>\r\nDates of sales presentations and general Forex based seminars with or without my BUSINESS PARTNERS are noted on the welcome page on the WEEKLY FX DRIVE THRU. The appropriate tab is at the top of the welcome page.\r\n\r\n</section>','Welcome','','inherit','open','closed','','2154-revision-v1','','','2015-04-28 13:37:59','2015-04-28 18:37:59','',2154,'https://weeklyfxdrivethru.com/2154-revision-v1/',0,'revision','',0),(5876,1,'2015-04-29 05:01:45','2015-04-29 10:01:45','<h2>EARN THE EQUIVALENT OF US$295.00 PER REFERRAL</h2>\nMany existing subscribers have written to me telling me that they have mentioned the PREMIUM SERVICE and the added value that it offers, when speaking to their circles of friends or fellow traders.\n\nI have of course been extremely grateful for these comments and actions.\n\nI wanted to come through with an incentive to reward those subscribers who refer the PREMIUM SERVICE as it is much appreciated; therefore I have decided to introduce a PREMIUM SERVICE REFERRAL PROGRAMME, this is only available to subscribers of the GOLD MEMBER subscriber level.\n<h4>How does it work?</h4>\nEvery time an existing PREMIUM SERVICE GOLD member subscriber introduces a friend, colleague or fellow trader to the PREMIUM SERVICE, I will add an additional 10 weeks to the referring subscribers membership period. This is the equivalent of a $295.00 value.\n\nThere are no limits to the numbers of those that can be introduced.\n<h4>How to claim your subscription extension</h4>\n<div class=\"kicker-three\">Write to me at\n<div class=\"btn\"><a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a></div>\nprovide me with your details and the name(s) and email address(s) of the person or persons that you have you have introduced.\n\n</div>\nVery simple…very straightforward….very easy.\n\nI will write back to you and confirm your revised subscription expiry date.\n\nScott Pickering\nThe Pip Accumulator\n\nPLEASE NOTE:\n\nThis ios ONLY available on GOLD MEMBER STATUS onl','PREMIUM SERVICE (GOLD SUBSCRIBER) REFERRAL PROGRAMME','','inherit','open','closed','','4193-autosave-v1','','','2015-04-29 05:01:45','2015-04-29 10:01:45','',4193,'https://weeklyfxdrivethru.com/4193-autosave-v1/',0,'revision','',0),(5877,1,'2015-04-29 05:02:10','2015-04-29 10:02:10','<h2>EARN THE EQUIVALENT OF US$295.00 PER REFERRAL</h2>\r\nMany existing subscribers have written to me telling me that they have mentioned the PREMIUM SERVICE and the added value that it offers, when speaking to their circles of friends or fellow traders.\r\n\r\nI have of course been extremely grateful for these comments and actions.\r\n\r\nI wanted to come through with an incentive to reward those subscribers who refer the PREMIUM SERVICE as it is much appreciated; therefore I have decided to introduce a PREMIUM SERVICE REFERRAL PROGRAMME, this is only available to subscribers of the GOLD MEMBER subscriber level.\r\n<h4>How does it work?</h4>\r\nEvery time an existing PREMIUM SERVICE GOLD member subscriber introduces a friend, colleague or fellow trader to the PREMIUM SERVICE, I will add an additional 10 weeks to the referring subscribers membership period. This is the equivalent of a $295.00 value.\r\n\r\nThere are no limits to the numbers of those that can be introduced.\r\n<h4>How to claim your subscription extension</h4>\r\n<div class=\"kicker-three\">Write to me at\r\n<div class=\"btn\"><a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a></div>\r\nprovide me with your details and the name(s) and email address(s) of the person or persons that you have you have introduced.\r\n\r\n</div>\r\nVery simple…very straightforward….very easy.\r\n\r\nI will write back to you and confirm your revised subscription expiry date.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<span style=\"text-decoration: underline;\"><strong>PLEASE NOTE:</strong></span>\r\n\r\nThis is ONLY available on GOLD MEMBER STATUS.','PREMIUM SERVICE (GOLD SUBSCRIBER) REFERRAL PROGRAMME','','inherit','open','closed','','4193-revision-v1','','','2015-04-29 05:02:10','2015-04-29 10:02:10','',4193,'https://weeklyfxdrivethru.com/4193-revision-v1/',0,'revision','',0),(5897,1,'2015-04-30 17:25:02','2015-04-30 22:25:02','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\"><img class=\"aligncenter size-full wp-image-5881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\" alt=\"RISK-REWARD 30042015\" width=\"433\" height=\"536\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS</h2>\r\n<h2><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-04-30 17:25:02','2015-04-30 22:25:02','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5909,1,'2015-05-01 16:17:00','2015-05-01 21:17:00','','CURRENCY CORRELATION EXPLAINED','','inherit','open','closed','','currency-correlation-explained','','','2015-05-02 12:42:12','2015-05-02 17:42:12','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CURRENCY-CORRELATION-EXPLAINED.pdf',0,'attachment','application/pdf',0),(5913,1,'2015-05-02 12:40:30','2015-05-02 17:40:30','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 03.05.2015\r\nREFERENCE: #58\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n<strong><u>\r\n</u></strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nWhat a hell of a ride last week was.\r\n\r\nWhen I was involved in Sales Training, courses contained sections on what is the typical profile of a sales person. The typical profile of sales person would show that this person is emotionally driven and that salespeople feel and experience highs and lows on a very frequent basis. Depending upon the type of sales process, it can range from an extreme high to an extreme low in an hour! I felt like that last week. I try not to get emotional but it is very, very difficult at times not to go bananas, in response to a move that was unexpected and not explainable. Last week I was that person.\r\n\r\n<u>FOMC RATE STATEMENT:</u>\r\n\r\nOn Wednesday last week, the FOMC released a much-anticipated update on how the FED views matters from an economic viewpoint. This was the day after an absolutely poor GDP print.\r\n\r\nThe U.S. data despite the U.S. gun-ho approach on all things USA (we are bigger and we are better and because we have booming voices we are correct so listen) has been weak of late. Let’s be honest here. The consumer is NOT buying and without consumer spending, I could not give a rats hairy a** about any data that is produced. If there is no spending, there is no growth no matter how loud your voices are.\r\n\r\nIs it any wonder the FOMC are scared to increase rates, they have to because they said that they would, but I would say that Janet Yellen is not a happy bunny in the mornings when she pours out her cornflakes.\r\n\r\nThe FOMC statement was viewed as HAWKISH. Jesus, Mary and Joseph how and why? Basically, to cut a long story short, they did NOT rule out a June rate hike. Go figure. As far as I can see the FOMC / FED have been fairly consistent with comments if you ignore the underlings and concentrate on the decision makers. Nothing has materially changed. Yet the children on Wall Street that need their diapers changing as they have no control of anything unless the FED gives them a backstop from where to trade from, have repeatedly read FOMC statements DOVISH or HAWKISH on basically the same vocabulary. Is it any wonder these markets can drive you drink?\r\n\r\n<u>RBNZ RATE STATEMENT:</u>\r\n\r\nSo my buddy Graeme Wheeler (Governor of the RBNZ) released the latest statement on all things New Zealand. Prior to the statement his sidekick, deputy governor English, had announced that things were in a bit of a fix and the RBNZ were no longer on a policy of increasing rates.\r\n\r\nSince last Wednesday, the NZD has been under pressure heading lower. Basically, nothing new came out of the statement. Even when the NZD/USD was heading to 0.8000 the RBNZ had been saying it was overvalued. Other geopolitical events have made the RBNZ fall in line, otherwise they would be screwed. They have to enter the currency war regardless. Do not forget John Key, the NZ Prime Minister, has already said that he sees the NZD/USD trading at 0.6500.\r\n\r\nThe PREMIUM SERVICE is currently short the NZD/USD and, next week I am looking to provide subscribers with trade set-ups to enter long on the commodity cross-rates that affect the NZD currency.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nIt looks like Varoufakis is being sidelined from negotiations. Being honest, there are so many damn deadlines and cash requirements to meet these deadlines that come and go that I do not know what to believe.\r\n\r\nWhen a deal is made, or a default happens, that is when to get excited. For now, I think about it when I am trading, but for the moment it is not at the front of my mind.\r\n\r\nIn my opinion, the CONTAGION looms and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This is the equivalent of a west-end farce played out in front of the world’s media and does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nI still believe that this is going to eventually end in tears.\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nThis is still ongoing, however, it is now page 7 news and not hitting the front pages anymore.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nIt should all kick-off next week. The 7<sup>th</sup> May is the UK election date. The GBP/USD started to implode late Thursday into Friday last week and I think that more of the same will happen.\r\n\r\nA trader friend of my last weekend asked me did I see the GBP/USD at 1.6000 prior to the election. I answered by saying that I thought a small spike might be seen from the price of 1.5200 at that time to about 1.5300. We went to 1.5500 before turning back lower towards 1.5100. I said that I felt that all the pressure would be to the downside. 1.5500 was a shock to me. But, last week there were some crazy moves across many pairs.\r\n\r\nEd Miliband (Labour Party Leader) may have shot himself in the foot by ruling out a coalition with the Scottish Nationalist Party (SNP) if there was a minority government and his party was the biggest and given first go at forming a government.\r\n\r\nThis has created even more uncertainty. Next week this will be a fascinating story to watch unfold, I will be glued overnight to BBC World News in Canada watching.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).\r\n</u>\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: AUD – Trade Balance.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\nTUESDAY: NZD – Dairy Auction Prices\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: GBP – General Elections.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change.\r\nFRIDAY: CAD – Employment Data.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nAt long last after a week of extreme moves we are now moving more freely and instead of being range bound we are now exposing bullish and bearish patterns / chart set-ups and potentially some bigger moves on the horizon.\r\n\r\nDo not get carried away yet. I think that next week providing that we do not see a GREECE settlement we should see (except for GBP related pairs) a consolidation of Friday’s moves before the decision is the USD (DXY) going higher or lower.\r\n\r\nIf the currency wars are to be believed; the USD (DXY) should be heading back towards 100.00 eventually. The pleasing thing about Friday’s move in currencies was that across the board it was a USD move.\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT TOO EARLY TO WRITE OFF THE USD?</strong></p>\r\nWithout doubt, this has been a strange year trading Forex.\r\n\r\nSo far we have accommodated: -\r\n<ul>\r\n	<li>Thomas Jordan (SNB Governor) having his day in the sun by removing the EUR/CHF peg and allowing the CHF to free float.</li>\r\n	<li>Janet Yellen has been struggling with language in the FOMC statements over the FED rate hike that she has committed to in 2015. She has been, meeting by meeting, trying to keep the markets as stable as possible, by updating language definitions in FED policy statements.</li>\r\n	<li>The BOJ has been dithering over more Quantitative Easing (QE) or not?</li>\r\n	<li>The ECB has introduced Quantitative Easing (QE) and looks to have accommodative / supportive policies in place for at least another 12-18 months.</li>\r\n</ul>\r\nThe price of OIL tanked lower (sorry about that pun).\r\n\r\nGOLD has been spiking up then spiking down. In a world of zero inflation why the yellow metal is not sitting at $700 really does surprise me.\r\n\r\nCentral Banks have intensified the “Race to the bottom”… currency wars are alive and well and fully functional. The FED and possibly the BOE are the HAWKS, with the BOJ, ECB, RBA, BOC and SNB the DOVES, with the RBNZ now joining the DOVES as well.\r\n\r\nWe have had so many short squeezes this year I have lost count. The squeezes are persistent and in two or three stages, relentless and 100% efficient at wiping out longs and shorts from the market.\r\n\r\nIs it any wonder that there has been what is often called a flight to safety with traders / institutions / corporate funds / pensions buying the USD?\r\n\r\nOn the USD dollar index (DXY) Monthly chart below, you can see the USD move higher in recent months. It was powerful and unrelenting. The target of 100.00 was too much for the markets not to miss. It should come as no surprise to any trader that after such a move higher that once the triple digit target of 100.00 was achieved that the index would pullback.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015.png\"><img class=\"aligncenter size-large wp-image-5910\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015-1024x534.png\" alt=\"DXY MONTHLY CHART 03052015\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\nWe have pulled back to about a 23.6% Fibonacci level around 95.00. This is shallow and if we hold here and return higher the move will be more powerful than the original move higher, and, in my opinion it will not just touch 100.00 and reverse it will go much higher.\r\n\r\nI have read so many articles saying that the USD is doomed and that no one wants to hold USD; what a complete load of crap. The USD is the flight to safety currency, not the JPY, CHF and certainly not the EUR.\r\n\r\nLooking ahead, we still have an OIL glut. The laws of “supply and demand” will have to apply soon. This is basic stuff. As we all know the OIL market is the most speculative market dominated by Hedge funds and millionaires looking for a quick buck based on high risk. OIL will return lower towards $40 again, sooner than we think. Even with increased demand for summer, the supply still exceeds demand. It cannot last for much longer.\r\n\r\nI have already mentioned GOLD. No inflation, the pressure has to be to the downside.\r\n\r\nPlus, we have Central Bank divergence, almost across the board. The FED and possibly the BOE line up opposite the remaining Central Banks, when it comes to Central bank monetary policy. This has to count for something dramatic moving forward in a zero inflation environment.\r\n\r\nFinally, are we seeing the equity markets pushing extremes? I believe we are finally at a turning point. Valuations are crazy and money poured into European bourses as soon as the ECB announced QE. We saw an initial buying frenzy and now a pullback. Equity markets around the world would appear to be at the stage of “punch-drunk” with regards to QE. Should equities start to pull back, this should provide USD strength.\r\n\r\nFor the above reasons, I think that it is rather premature to write off the USD. For sure we have stopped in the area of the 23.6% retracement and we are consolidating around the 95.00 level.\r\n\r\nIt would take a brave man with testicles the size of footballs (European style) to shout from the roof tops that the USD is toast. It would also take a brave man to say that the USD is about to bounce back and try a run back to 100.00. Just for the record, my testicles are of normal size and fully functional.\r\n\r\nWhen I first started trading I recall my training and one of my trainers telling me “Never fight the FED”. This is a great statement and one that I have never forgotten.\r\n\r\nWhilst I do believe we are at a crossroads with the USD, I also think that it is too early to write off the USD. If you do - it is a RISK.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nFrom time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 301 trades cost to trade = $30.10\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$383.90</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 301 trades cost to trade = $301.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$3,839.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 301 trades cost to trade = $3,010.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$38,390.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above PREMIUM SERVICE performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of differing sizes, from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\"><img class=\"aligncenter size-full wp-image-5880\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\" alt=\"PROFIT-LOSS RATIO 30042015\" width=\"416\" height=\"592\" /></a>\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\"><img class=\"aligncenter size-full wp-image-5881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\" alt=\"RISK-REWARD 30042015\" width=\"433\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\"><img class=\"aligncenter size-full wp-image-5878\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\" alt=\"PREM SERV PROFITS1 30042015\" width=\"463\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\"><img class=\"aligncenter size-full wp-image-5879\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\" alt=\"PREM SERV PROFITS2 30042015\" width=\"463\" height=\"439\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.5 – PREMIUM SERVICE 2014 – 2015 PIP COMPARISON</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\"><img class=\"aligncenter size-full wp-image-5890\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\" alt=\"PIP COMPARISON 2014-2015 30042015\" width=\"619\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<p style=\"text-align: center;\"><strong>CURRENCY CORRELATION EXPLAINED</strong></p>\r\nHave you ever noticed that when a certain currency pair rises, another currency pair falls? Or how about when that same currency pair falls, another currency pair seems to copy it and fall also?\r\n\r\nIf the answer is “Yes” you have just witnessed currency correlation in action!\r\n\r\nIf you answered “No”, do not worry, because we are going to start with the basics and break it down.\r\n\r\n<strong>CORRELATION: </strong>a relationship between two things.\r\n\r\n<strong>WHAT IS CURRENCY CORRELATION?</strong>\r\n\r\nIn the financial world, correlation is a statistical measure of how two securities <strong>move in relation to each other</strong>.\r\n\r\nCurrency Correlation then tells us <strong>whether two currency pairs move in the same, opposite, or totally random direction</strong>, over some period of time.\r\n\r\nWhen trading currencies, it is important to remember that since currencies are traded in pairs, that no single currency pair is ever totally isolated.\r\n\r\nUnless you plan on trading just one pair at a time, it is crucial that you understand how different currency pairs move in relation to each other, especially if you are not familiar with how currency correlations can affect the amount of risk you are exposing your trading account to.\r\n\r\nIf you don’t know what the heck you are doing when trading multiple pairs simultaneously in your trading account, you can get KILLED! Murdered! Destroyed! I can’t stress this enough.\r\n\r\nIn this lesson, you will learn what currency correlation is and how to use it to help you become a smarter trader and make more responsible risk management decisions.\r\n\r\nCorrelation is computed into what is known as the correlation coefficient, which ranges between -1 and +1.\r\n\r\n<strong>Perfect positive correlation </strong>(a correlation coefficient of +1) implies that the two currency pairs will move in the same direction 100% of the time.\r\n\r\n<strong>Perfect negative correlation </strong>(a correlation coefficient of -1) means that the two currency pairs will move in the opposite direction 100% of the time.\r\n\r\nIf the correlation is 0, the movements between two currency pairs is said to have ZERO or NO correlation, they are completely independent and random from each other. We have no idea how one pair will move in relation to the other.\r\n\r\n<strong> </strong>\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nWhat a week.\r\n\r\nLost pips…made pips…lost pips…made pips… the roller coaster of weeks.\r\n\r\nIt was as far as I was concerned one of those weeks when I was saying over and over to myself and my wife… woulda, coulda, shoulda… if only etc.\r\n\r\nI know from speaking to many of you that you all went on the roller coaster ride as well. Some of you unfortunately got chewed up and have not recovered. I am roughly, at about break even on the week in my own accounts, the PREMIUM SERVICE is up!!\r\n\r\nWe also completed another month of trading. April 2015 showed another improvement in pip return based against April 2014. April 2014 generated 688 pips and this year April generated 889 pips. Year to date 2015 total pips so far is ahead of 2014 by 1,116 pips. I am happy with this performance but like many traders I feel like we have completed a year already.\r\n\r\nIt certainly has been a hard year for trading, I am hoping that we calm down a little into some directional trading but I fear that this may be a false hope and that we will continue in the same routine for a while longer.\r\n\r\nThe great news about last week is that we have hopefully seen the end of the range bound market (except USD/JPY). Finally, it looks like we have broken free. However, as I have noted before, with range trading, do not be surprised to see false breakouts that pullback into the prior range in following sessions. Then all we have created is a wider trading range.\r\n\r\nRisks are still high; if we look at the equity markets across the globe they are at major inflection points and I think that it looks like the equity markets are going to implode. Lets see if that happens, should this happen we should get a flight to safety with the USD being bought across the board.\r\n\r\nMy fingers are crossed for a directional two or three trading days. Looking at specific currencies; I am bearish the GBP, NZD and AUD. These three currencies have high beta news events to contend with and if we have accommodative news we could have some really nice momentum moves ahead…. fingers crossed.\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-03052015.png\"><img class=\"aligncenter size-full wp-image-5907\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-03052015.png\" alt=\"PS LIVE TRADES 03052015\" width=\"721\" height=\"502\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-03052015.png\"><img class=\"aligncenter size-full wp-image-5906\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-03052015.png\" alt=\"PS LIMIT ORDERS 03052015\" width=\"718\" height=\"396\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nGREECE still worries me, and, I still think we have a default coming. Now we also have a UK election this week.\r\n\r\nThis week there are only two charts. I am LIVE in trades and I do want to add any more RISK at this stage. The Commodity Cross rate pairs will come on stream probably after the UK election.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-240M-03052015.png\"><img class=\"aligncenter size-large wp-image-5911\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-240M-03052015-1024x519.png\" alt=\"GBPUSD 240M 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-60M-03052015.png\"><img class=\"aligncenter size-large wp-image-5912\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-60M-03052015-1024x519.png\" alt=\"AUDUSD 60M 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/TRENDING-PAIRS-03052015.png\"><img class=\"aligncenter size-full wp-image-5908\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/TRENDING-PAIRS-03052015.png\" alt=\"TRENDING PAIRS 03052015\" width=\"393\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>EUR/USD: Closing Price 1.1188</strong>\r\n\r\nWe could be at a crossroads with this pair. I never expected to see the EUR/USD around 1.1300. The moves in the past week took me completely by surprise. I think we are now at the point where support at 1.1040–1.1050 needs to hold should we continue to pullback. If 1.1050 does not support a move lower then I think we are going to have the bears in control once again.\r\n\r\nNever underestimate the FED. We have the ECB pulling one way and the FED in the opposite direction. The natural path for the EUR/USD is lower given the divergent Central bank policies.\r\n\r\nIt is a big week for the USD. Was Friday’s strength just a blip or was it the start of a move higher in the DXY?\r\n\r\nGeopolitical news surrounding GREECE is hanging over this pair and it is difficult to read. The best policy may be to avoid it until the GREECE situation is sorted.\r\n\r\nSupport in the EUR/USD is at 1.1100 then below a big 1.1050 level. Resistance is at 1.1285.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5904\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-03052015-1024x519.png\" alt=\"EURUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5116</strong>.\r\n\r\nThe weekly chart-closing candle says it all. I am expecting pressure on the cable running up to the May 7<sup>th</sup> election. Then after this date we could have a great deal of further uncertainty as it looks like a coalition government of some sort will need to be formed.\r\n\r\nSupport should be at 1.5000 and resistance at 1.5130 then 1.5250\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5903\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-03052015-1024x519.png\" alt=\"GBPUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7835</strong>.\r\n\r\nA huge week for AUD news is on the horizon, the biggest event being the interest rate decision. There are many calls for the RBA to cut rates. In the past few days the AUD has been under pressure.\r\n\r\nFrom the chart below it is clear to see that we have a bearish closing weekly candle that indicates more downside pressure.\r\n\r\nSupport should now be at 0.7740 and resistance at 0.7850.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5905\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-03052015-1024x519.png\" alt=\"AUDUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7519</strong>.\r\n\r\nThis pair following the RBNZ Rate announcement and policy statement earlier last week is firmly bearish.\r\n\r\nThe weekly closing candle is a shooting star that usually indicates a bearish move. FUNDAMENTALLY, I have been bearish this pair for some time and now with the RBNZ basically saying that rate increases are off the table the door is open for a move lower.\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5902\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-03052015-1024x519.png\" alt=\"NZDUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2140.</strong>\r\n\r\nWe have a hanging man candle to close the weekly chart. This is a reversal candle and as such should indicate a move higher in this pair.\r\n\r\nThe next stopping point higher for me is really 1.2350 and I would imagine that there are plenty of sellers there waiting to short. Support should be good at 1.2060.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5901\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-03052015-1024x519.png\" alt=\"USDCAD W 03052015\" width=\"1024\" height=\"519\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9317</strong>.\r\n\r\nI think that the uncertainty over GREECE is finally manifesting itself in the CHF. I would stay clear until the GREECE situation is resolved.\r\n\r\nSupport is at 0.9250 and resistance at 0.9450.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5900\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-03052015-1024x519.png\" alt=\"USDCHF W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 120.05. </strong>\r\n\r\nDespite a big move up this week in comparison to last weeks close we are still in a range. I think, when I look back that it has been stuck in this range for over 4 months, and, I see no way out for the time being.\r\n\r\nIf you are range trader enjoy… If not stay away.\r\n\r\nSupport is at 119.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5899\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-03052015-1024x519.png\" alt=\"USDJPY W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nAUD news is almost daily, there is also major NZD news this week, but the highlights will be the U.S. employment data.\r\n\r\nAdd to the economic data, the GREECE news and the UK General Election and it has the makings of a big week.\r\n\r\nPlus… we also have a potential move back towards 100.00 in the DXY. I am not yet convinced about this yet, but we have the potential to move.\r\n\r\nThe bottom line is however, be careful and do not get too carried away. It is always safer when high-beta news is hovering to establish smaller positions with wider stop losses in position.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 3rd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u><u> </u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','IS IT TOO EARLY TO WRITE OFF THE USD?','','publish','open','closed','','is-it-too-early-to-write-off-the-usd','','','2015-05-02 12:40:30','2015-05-02 17:40:30','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5913',0,'member_posts','',2),(5915,1,'2015-05-02 12:40:30','2015-05-02 17:40:30','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 03.05.2015\r\nREFERENCE: #58\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n<strong><u>\r\n</u></strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nWhat a hell of a ride last week was.\r\n\r\nWhen I was involved in Sales Training, courses contained sections on what is the typical profile of a sales person. The typical profile of sales person would show that this person is emotionally driven and that salespeople feel and experience highs and lows on a very frequent basis. Depending upon the type of sales process, it can range from an extreme high to an extreme low in an hour! I felt like that last week. I try not to get emotional but it is very, very difficult at times not to go bananas, in response to a move that was unexpected and not explainable. Last week I was that person.\r\n\r\n<u>FOMC RATE STATEMENT:</u>\r\n\r\nOn Wednesday last week, the FOMC released a much-anticipated update on how the FED views matters from an economic viewpoint. This was the day after an absolutely poor GDP print.\r\n\r\nThe U.S. data despite the U.S. gun-ho approach on all things USA (we are bigger and we are better and because we have booming voices we are correct so listen) has been weak of late. Let’s be honest here. The consumer is NOT buying and without consumer spending, I could not give a rats hairy a** about any data that is produced. If there is no spending, there is no growth no matter how loud your voices are.\r\n\r\nIs it any wonder the FOMC are scared to increase rates, they have to because they said that they would, but I would say that Janet Yellen is not a happy bunny in the mornings when she pours out her cornflakes.\r\n\r\nThe FOMC statement was viewed as HAWKISH. Jesus, Mary and Joseph how and why? Basically, to cut a long story short, they did NOT rule out a June rate hike. Go figure. As far as I can see the FOMC / FED have been fairly consistent with comments if you ignore the underlings and concentrate on the decision makers. Nothing has materially changed. Yet the children on Wall Street that need their diapers changing as they have no control of anything unless the FED gives them a backstop from where to trade from, have repeatedly read FOMC statements DOVISH or HAWKISH on basically the same vocabulary. Is it any wonder these markets can drive you drink?\r\n\r\n<u>RBNZ RATE STATEMENT:</u>\r\n\r\nSo my buddy Graeme Wheeler (Governor of the RBNZ) released the latest statement on all things New Zealand. Prior to the statement his sidekick, deputy governor English, had announced that things were in a bit of a fix and the RBNZ were no longer on a policy of increasing rates.\r\n\r\nSince last Wednesday, the NZD has been under pressure heading lower. Basically, nothing new came out of the statement. Even when the NZD/USD was heading to 0.8000 the RBNZ had been saying it was overvalued. Other geopolitical events have made the RBNZ fall in line, otherwise they would be screwed. They have to enter the currency war regardless. Do not forget John Key, the NZ Prime Minister, has already said that he sees the NZD/USD trading at 0.6500.\r\n\r\nThe PREMIUM SERVICE is currently short the NZD/USD and, next week I am looking to provide subscribers with trade set-ups to enter long on the commodity cross-rates that affect the NZD currency.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nIt looks like Varoufakis is being sidelined from negotiations. Being honest, there are so many damn deadlines and cash requirements to meet these deadlines that come and go that I do not know what to believe.\r\n\r\nWhen a deal is made, or a default happens, that is when to get excited. For now, I think about it when I am trading, but for the moment it is not at the front of my mind.\r\n\r\nIn my opinion, the CONTAGION looms and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This is the equivalent of a west-end farce played out in front of the world’s media and does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nI still believe that this is going to eventually end in tears.\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nThis is still ongoing, however, it is now page 7 news and not hitting the front pages anymore.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nIt should all kick-off next week. The 7<sup>th</sup> May is the UK election date. The GBP/USD started to implode late Thursday into Friday last week and I think that more of the same will happen.\r\n\r\nA trader friend of my last weekend asked me did I see the GBP/USD at 1.6000 prior to the election. I answered by saying that I thought a small spike might be seen from the price of 1.5200 at that time to about 1.5300. We went to 1.5500 before turning back lower towards 1.5100. I said that I felt that all the pressure would be to the downside. 1.5500 was a shock to me. But, last week there were some crazy moves across many pairs.\r\n\r\nEd Miliband (Labour Party Leader) may have shot himself in the foot by ruling out a coalition with the Scottish Nationalist Party (SNP) if there was a minority government and his party was the biggest and given first go at forming a government.\r\n\r\nThis has created even more uncertainty. Next week this will be a fascinating story to watch unfold, I will be glued overnight to BBC World News in Canada watching.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).\r\n</u>\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: AUD – Trade Balance.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\nTUESDAY: NZD – Dairy Auction Prices\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: GBP – General Elections.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change.\r\nFRIDAY: CAD – Employment Data.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nAt long last after a week of extreme moves we are now moving more freely and instead of being range bound we are now exposing bullish and bearish patterns / chart set-ups and potentially some bigger moves on the horizon.\r\n\r\nDo not get carried away yet. I think that next week providing that we do not see a GREECE settlement we should see (except for GBP related pairs) a consolidation of Friday’s moves before the decision is the USD (DXY) going higher or lower.\r\n\r\nIf the currency wars are to be believed; the USD (DXY) should be heading back towards 100.00 eventually. The pleasing thing about Friday’s move in currencies was that across the board it was a USD move.\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT TOO EARLY TO WRITE OFF THE USD?</strong></p>\r\nWithout doubt, this has been a strange year trading Forex.\r\n\r\nSo far we have accommodated: -\r\n<ul>\r\n	<li>Thomas Jordan (SNB Governor) having his day in the sun by removing the EUR/CHF peg and allowing the CHF to free float.</li>\r\n	<li>Janet Yellen has been struggling with language in the FOMC statements over the FED rate hike that she has committed to in 2015. She has been, meeting by meeting, trying to keep the markets as stable as possible, by updating language definitions in FED policy statements.</li>\r\n	<li>The BOJ has been dithering over more Quantitative Easing (QE) or not?</li>\r\n	<li>The ECB has introduced Quantitative Easing (QE) and looks to have accommodative / supportive policies in place for at least another 12-18 months.</li>\r\n</ul>\r\nThe price of OIL tanked lower (sorry about that pun).\r\n\r\nGOLD has been spiking up then spiking down. In a world of zero inflation why the yellow metal is not sitting at $700 really does surprise me.\r\n\r\nCentral Banks have intensified the “Race to the bottom”… currency wars are alive and well and fully functional. The FED and possibly the BOE are the HAWKS, with the BOJ, ECB, RBA, BOC and SNB the DOVES, with the RBNZ now joining the DOVES as well.\r\n\r\nWe have had so many short squeezes this year I have lost count. The squeezes are persistent and in two or three stages, relentless and 100% efficient at wiping out longs and shorts from the market.\r\n\r\nIs it any wonder that there has been what is often called a flight to safety with traders / institutions / corporate funds / pensions buying the USD?\r\n\r\nOn the USD dollar index (DXY) Monthly chart below, you can see the USD move higher in recent months. It was powerful and unrelenting. The target of 100.00 was too much for the markets not to miss. It should come as no surprise to any trader that after such a move higher that once the triple digit target of 100.00 was achieved that the index would pullback.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015.png\"><img class=\"aligncenter size-large wp-image-5910\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015-1024x534.png\" alt=\"DXY MONTHLY CHART 03052015\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\nWe have pulled back to about a 23.6% Fibonacci level around 95.00. This is shallow and if we hold here and return higher the move will be more powerful than the original move higher, and, in my opinion it will not just touch 100.00 and reverse it will go much higher.\r\n\r\nI have read so many articles saying that the USD is doomed and that no one wants to hold USD; what a complete load of crap. The USD is the flight to safety currency, not the JPY, CHF and certainly not the EUR.\r\n\r\nLooking ahead, we still have an OIL glut. The laws of “supply and demand” will have to apply soon. This is basic stuff. As we all know the OIL market is the most speculative market dominated by Hedge funds and millionaires looking for a quick buck based on high risk. OIL will return lower towards $40 again, sooner than we think. Even with increased demand for summer, the supply still exceeds demand. It cannot last for much longer.\r\n\r\nI have already mentioned GOLD. No inflation, the pressure has to be to the downside.\r\n\r\nPlus, we have Central Bank divergence, almost across the board. The FED and possibly the BOE line up opposite the remaining Central Banks, when it comes to Central bank monetary policy. This has to count for something dramatic moving forward in a zero inflation environment.\r\n\r\nFinally, are we seeing the equity markets pushing extremes? I believe we are finally at a turning point. Valuations are crazy and money poured into European bourses as soon as the ECB announced QE. We saw an initial buying frenzy and now a pullback. Equity markets around the world would appear to be at the stage of “punch-drunk” with regards to QE. Should equities start to pull back, this should provide USD strength.\r\n\r\nFor the above reasons, I think that it is rather premature to write off the USD. For sure we have stopped in the area of the 23.6% retracement and we are consolidating around the 95.00 level.\r\n\r\nIt would take a brave man with testicles the size of footballs (European style) to shout from the roof tops that the USD is toast. It would also take a brave man to say that the USD is about to bounce back and try a run back to 100.00. Just for the record, my testicles are of normal size and fully functional.\r\n\r\nWhen I first started trading I recall my training and one of my trainers telling me “Never fight the FED”. This is a great statement and one that I have never forgotten.\r\n\r\nWhilst I do believe we are at a crossroads with the USD, I also think that it is too early to write off the USD. If you do - it is a RISK.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nFrom time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 301 trades cost to trade = $30.10\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$383.90</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 301 trades cost to trade = $301.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$3,839.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 301 trades cost to trade = $3,010.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$38,390.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above PREMIUM SERVICE performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of differing sizes, from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\"><img class=\"aligncenter size-full wp-image-5880\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\" alt=\"PROFIT-LOSS RATIO 30042015\" width=\"416\" height=\"592\" /></a>\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\"><img class=\"aligncenter size-full wp-image-5881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\" alt=\"RISK-REWARD 30042015\" width=\"433\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\"><img class=\"aligncenter size-full wp-image-5878\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\" alt=\"PREM SERV PROFITS1 30042015\" width=\"463\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\"><img class=\"aligncenter size-full wp-image-5879\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\" alt=\"PREM SERV PROFITS2 30042015\" width=\"463\" height=\"439\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.5 – PREMIUM SERVICE 2014 – 2015 PIP COMPARISON</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\"><img class=\"aligncenter size-full wp-image-5890\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\" alt=\"PIP COMPARISON 2014-2015 30042015\" width=\"619\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<p style=\"text-align: center;\"><strong>CURRENCY CORRELATION EXPLAINED</strong></p>\r\nHave you ever noticed that when a certain currency pair rises, another currency pair falls? Or how about when that same currency pair falls, another currency pair seems to copy it and fall also?\r\n\r\nIf the answer is “Yes” you have just witnessed currency correlation in action!\r\n\r\nIf you answered “No”, do not worry, because we are going to start with the basics and break it down.\r\n\r\n<strong>CORRELATION: </strong>a relationship between two things.\r\n\r\n<strong>WHAT IS CURRENCY CORRELATION?</strong>\r\n\r\nIn the financial world, correlation is a statistical measure of how two securities <strong>move in relation to each other</strong>.\r\n\r\nCurrency Correlation then tells us <strong>whether two currency pairs move in the same, opposite, or totally random direction</strong>, over some period of time.\r\n\r\nWhen trading currencies, it is important to remember that since currencies are traded in pairs, that no single currency pair is ever totally isolated.\r\n\r\nUnless you plan on trading just one pair at a time, it is crucial that you understand how different currency pairs move in relation to each other, especially if you are not familiar with how currency correlations can affect the amount of risk you are exposing your trading account to.\r\n\r\nIf you don’t know what the heck you are doing when trading multiple pairs simultaneously in your trading account, you can get KILLED! Murdered! Destroyed! I can’t stress this enough.\r\n\r\nIn this lesson, you will learn what currency correlation is and how to use it to help you become a smarter trader and make more responsible risk management decisions.\r\n\r\nCorrelation is computed into what is known as the correlation coefficient, which ranges between -1 and +1.\r\n\r\n<strong>Perfect positive correlation </strong>(a correlation coefficient of +1) implies that the two currency pairs will move in the same direction 100% of the time.\r\n\r\n<strong>Perfect negative correlation </strong>(a correlation coefficient of -1) means that the two currency pairs will move in the opposite direction 100% of the time.\r\n\r\nIf the correlation is 0, the movements between two currency pairs is said to have ZERO or NO correlation, they are completely independent and random from each other. We have no idea how one pair will move in relation to the other.\r\n\r\n<strong> </strong>\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nWhat a week.\r\n\r\nLost pips…made pips…lost pips…made pips… the roller coaster of weeks.\r\n\r\nIt was as far as I was concerned one of those weeks when I was saying over and over to myself and my wife… woulda, coulda, shoulda… if only etc.\r\n\r\nI know from speaking to many of you that you all went on the roller coaster ride as well. Some of you unfortunately got chewed up and have not recovered. I am roughly, at about break even on the week in my own accounts, the PREMIUM SERVICE is up!!\r\n\r\nWe also completed another month of trading. April 2015 showed another improvement in pip return based against April 2014. April 2014 generated 688 pips and this year April generated 889 pips. Year to date 2015 total pips so far is ahead of 2014 by 1,116 pips. I am happy with this performance but like many traders I feel like we have completed a year already.\r\n\r\nIt certainly has been a hard year for trading, I am hoping that we calm down a little into some directional trading but I fear that this may be a false hope and that we will continue in the same routine for a while longer.\r\n\r\nThe great news about last week is that we have hopefully seen the end of the range bound market (except USD/JPY). Finally, it looks like we have broken free. However, as I have noted before, with range trading, do not be surprised to see false breakouts that pullback into the prior range in following sessions. Then all we have created is a wider trading range.\r\n\r\nRisks are still high; if we look at the equity markets across the globe they are at major inflection points and I think that it looks like the equity markets are going to implode. Lets see if that happens, should this happen we should get a flight to safety with the USD being bought across the board.\r\n\r\nMy fingers are crossed for a directional two or three trading days. Looking at specific currencies; I am bearish the GBP, NZD and AUD. These three currencies have high beta news events to contend with and if we have accommodative news we could have some really nice momentum moves ahead…. fingers crossed.\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-03052015.png\"><img class=\"aligncenter size-full wp-image-5907\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-03052015.png\" alt=\"PS LIVE TRADES 03052015\" width=\"721\" height=\"502\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-03052015.png\"><img class=\"aligncenter size-full wp-image-5906\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-03052015.png\" alt=\"PS LIMIT ORDERS 03052015\" width=\"718\" height=\"396\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nGREECE still worries me, and, I still think we have a default coming. Now we also have a UK election this week.\r\n\r\nThis week there are only two charts. I am LIVE in trades and I do want to add any more RISK at this stage. The Commodity Cross rate pairs will come on stream probably after the UK election.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-240M-03052015.png\"><img class=\"aligncenter size-large wp-image-5911\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-240M-03052015-1024x519.png\" alt=\"GBPUSD 240M 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-60M-03052015.png\"><img class=\"aligncenter size-large wp-image-5912\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-60M-03052015-1024x519.png\" alt=\"AUDUSD 60M 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/TRENDING-PAIRS-03052015.png\"><img class=\"aligncenter size-full wp-image-5908\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/TRENDING-PAIRS-03052015.png\" alt=\"TRENDING PAIRS 03052015\" width=\"393\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>EUR/USD: Closing Price 1.1188</strong>\r\n\r\nWe could be at a crossroads with this pair. I never expected to see the EUR/USD around 1.1300. The moves in the past week took me completely by surprise. I think we are now at the point where support at 1.1040–1.1050 needs to hold should we continue to pullback. If 1.1050 does not support a move lower then I think we are going to have the bears in control once again.\r\n\r\nNever underestimate the FED. We have the ECB pulling one way and the FED in the opposite direction. The natural path for the EUR/USD is lower given the divergent Central bank policies.\r\n\r\nIt is a big week for the USD. Was Friday’s strength just a blip or was it the start of a move higher in the DXY?\r\n\r\nGeopolitical news surrounding GREECE is hanging over this pair and it is difficult to read. The best policy may be to avoid it until the GREECE situation is sorted.\r\n\r\nSupport in the EUR/USD is at 1.1100 then below a big 1.1050 level. Resistance is at 1.1285.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5904\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-03052015-1024x519.png\" alt=\"EURUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5116</strong>.\r\n\r\nThe weekly chart-closing candle says it all. I am expecting pressure on the cable running up to the May 7<sup>th</sup> election. Then after this date we could have a great deal of further uncertainty as it looks like a coalition government of some sort will need to be formed.\r\n\r\nSupport should be at 1.5000 and resistance at 1.5130 then 1.5250\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5903\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-03052015-1024x519.png\" alt=\"GBPUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7835</strong>.\r\n\r\nA huge week for AUD news is on the horizon, the biggest event being the interest rate decision. There are many calls for the RBA to cut rates. In the past few days the AUD has been under pressure.\r\n\r\nFrom the chart below it is clear to see that we have a bearish closing weekly candle that indicates more downside pressure.\r\n\r\nSupport should now be at 0.7740 and resistance at 0.7850.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5905\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-03052015-1024x519.png\" alt=\"AUDUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7519</strong>.\r\n\r\nThis pair following the RBNZ Rate announcement and policy statement earlier last week is firmly bearish.\r\n\r\nThe weekly closing candle is a shooting star that usually indicates a bearish move. FUNDAMENTALLY, I have been bearish this pair for some time and now with the RBNZ basically saying that rate increases are off the table the door is open for a move lower.\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5902\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-03052015-1024x519.png\" alt=\"NZDUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2140.</strong>\r\n\r\nWe have a hanging man candle to close the weekly chart. This is a reversal candle and as such should indicate a move higher in this pair.\r\n\r\nThe next stopping point higher for me is really 1.2350 and I would imagine that there are plenty of sellers there waiting to short. Support should be good at 1.2060.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5901\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-03052015-1024x519.png\" alt=\"USDCAD W 03052015\" width=\"1024\" height=\"519\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9317</strong>.\r\n\r\nI think that the uncertainty over GREECE is finally manifesting itself in the CHF. I would stay clear until the GREECE situation is resolved.\r\n\r\nSupport is at 0.9250 and resistance at 0.9450.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5900\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-03052015-1024x519.png\" alt=\"USDCHF W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 120.05. </strong>\r\n\r\nDespite a big move up this week in comparison to last weeks close we are still in a range. I think, when I look back that it has been stuck in this range for over 4 months, and, I see no way out for the time being.\r\n\r\nIf you are range trader enjoy… If not stay away.\r\n\r\nSupport is at 119.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5899\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-03052015-1024x519.png\" alt=\"USDJPY W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nAUD news is almost daily, there is also major NZD news this week, but the highlights will be the U.S. employment data.\r\n\r\nAdd to the economic data, the GREECE news and the UK General Election and it has the makings of a big week.\r\n\r\nPlus… we also have a potential move back towards 100.00 in the DXY. I am not yet convinced about this yet, but we have the potential to move.\r\n\r\nThe bottom line is however, be careful and do not get too carried away. It is always safer when high-beta news is hovering to establish smaller positions with wider stop losses in position.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 3rd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u><u> </u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','IS IT TOO EARLY TO WRITE OFF THE USD?','','inherit','open','closed','','5913-revision-v1','','','2015-05-02 12:40:30','2015-05-02 17:40:30','',5913,'https://weeklyfxdrivethru.com/5913-revision-v1/',0,'revision','',0),(5914,1,'2015-05-02 12:38:37','2015-05-02 17:38:37','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 03.05.2015\r\nREFERENCE: #58\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n<strong><u>\r\n</u></strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nWhat a hell of a ride last week was.\r\n\r\nWhen I was involved in Sales Training, courses contained sections on what is the typical profile of a sales person. The typical profile of sales person would show that this person is emotionally driven and that salespeople feel and experience highs and lows on a very frequent basis. Depending upon the type of sales process, it can range from an extreme high to an extreme low in an hour! I felt like that last week. I try not to get emotional but it is very, very difficult at times not to go bananas, in response to a move that was unexpected and not explainable. Last week I was that person.\r\n\r\n<u>FOMC RATE STATEMENT:</u>\r\n\r\nOn Wednesday last week, the FOMC released a much-anticipated update on how the FED views matters from an economic viewpoint. This was the day after an absolutely poor GDP print.\r\n\r\nThe U.S. data despite the U.S. gun-ho approach on all things USA (we are bigger and we are better and because we have booming voices we are correct so listen) has been weak of late. Let’s be honest here. The consumer is NOT buying and without consumer spending, I could not give a rats hairy a** about any data that is produced. If there is no spending, there is no growth no matter how loud your voices are.\r\n\r\nIs it any wonder the FOMC are scared to increase rates, they have to because they said that they would, but I would say that Janet Yellen is not a happy bunny in the mornings when she pours out her cornflakes.\r\n\r\nThe FOMC statement was viewed as HAWKISH. Jesus, Mary and Joseph how and why? Basically, to cut a long story short, they did NOT rule out a June rate hike. Go figure. As far as I can see the FOMC / FED have been fairly consistent with comments if you ignore the underlings and concentrate on the decision makers. Nothing has materially changed. Yet the children on Wall Street that need their diapers changing as they have no control of anything unless the FED gives them a backstop from where to trade from, have repeatedly read FOMC statements DOVISH or HAWKISH on basically the same vocabulary. Is it any wonder these markets can drive you drink?\r\n\r\n<u>RBNZ RATE STATEMENT:</u>\r\n\r\nSo my buddy Graeme Wheeler (Governor of the RBNZ) released the latest statement on all things New Zealand. Prior to the statement his sidekick, deputy governor English, had announced that things were in a bit of a fix and the RBNZ were no longer on a policy of increasing rates.\r\n\r\nSince last Wednesday, the NZD has been under pressure heading lower. Basically, nothing new came out of the statement. Even when the NZD/USD was heading to 0.8000 the RBNZ had been saying it was overvalued. Other geopolitical events have made the RBNZ fall in line, otherwise they would be screwed. They have to enter the currency war regardless. Do not forget John Key, the NZ Prime Minister, has already said that he sees the NZD/USD trading at 0.6500.\r\n\r\nThe PREMIUM SERVICE is currently short the NZD/USD and, next week I am looking to provide subscribers with trade set-ups to enter long on the commodity cross-rates that affect the NZD currency.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nIt looks like Varoufakis is being sidelined from negotiations. Being honest, there are so many damn deadlines and cash requirements to meet these deadlines that come and go that I do not know what to believe.\r\n\r\nWhen a deal is made, or a default happens, that is when to get excited. For now, I think about it when I am trading, but for the moment it is not at the front of my mind.\r\n\r\nIn my opinion, the CONTAGION looms and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This is the equivalent of a west-end farce played out in front of the world’s media and does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nI still believe that this is going to eventually end in tears.\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nThis is still ongoing, however, it is now page 7 news and not hitting the front pages anymore.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nIt should all kick-off next week. The 7<sup>th</sup> May is the UK election date. The GBP/USD started to implode late Thursday into Friday last week and I think that more of the same will happen.\r\n\r\nA trader friend of my last weekend asked me did I see the GBP/USD at 1.6000 prior to the election. I answered by saying that I thought a small spike might be seen from the price of 1.5200 at that time to about 1.5300. We went to 1.5500 before turning back lower towards 1.5100. I said that I felt that all the pressure would be to the downside. 1.5500 was a shock to me. But, last week there were some crazy moves across many pairs.\r\n\r\nEd Miliband (Labour Party Leader) may have shot himself in the foot by ruling out a coalition with the Scottish Nationalist Party (SNP) if there was a minority government and his party was the biggest and given first go at forming a government.\r\n\r\nThis has created even more uncertainty. Next week this will be a fascinating story to watch unfold, I will be glued overnight to BBC World News in Canada watching.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).\r\n</u>\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: AUD – Trade Balance.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\nTUESDAY: NZD – Dairy Auction Prices\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: GBP – General Elections.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change.\r\nFRIDAY: CAD – Employment Data.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nAt long last after a week of extreme moves we are now moving more freely and instead of being range bound we are now exposing bullish and bearish patterns / chart set-ups and potentially some bigger moves on the horizon.\r\n\r\nDo not get carried away yet. I think that next week providing that we do not see a GREECE settlement we should see (except for GBP related pairs) a consolidation of Friday’s moves before the decision is the USD (DXY) going higher or lower.\r\n\r\nIf the currency wars are to be believed; the USD (DXY) should be heading back towards 100.00 eventually. The pleasing thing about Friday’s move in currencies was that across the board it was a USD move.\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT TOO EARLY TO WRITE OFF THE USD?</strong></p>\r\nWithout doubt, this has been a strange year trading Forex.\r\n\r\nSo far we have accommodated: -\r\n<ul>\r\n	<li>Thomas Jordan (SNB Governor) having his day in the sun by removing the EUR/CHF peg and allowing the CHF to free float.</li>\r\n	<li>Janet Yellen has been struggling with language in the FOMC statements over the FED rate hike that she has committed to in 2015. She has been, meeting by meeting, trying to keep the markets as stable as possible, by updating language definitions in FED policy statements.</li>\r\n	<li>The BOJ has been dithering over more Quantitative Easing (QE) or not?</li>\r\n	<li>The ECB has introduced Quantitative Easing (QE) and looks to have accommodative / supportive policies in place for at least another 12-18 months.</li>\r\n</ul>\r\nThe price of OIL tanked lower (sorry about that pun).\r\n\r\nGOLD has been spiking up then spiking down. In a world of zero inflation why the yellow metal is not sitting at $700 really does surprise me.\r\n\r\nCentral Banks have intensified the “Race to the bottom”… currency wars are alive and well and fully functional. The FED and possibly the BOE are the HAWKS, with the BOJ, ECB, RBA, BOC and SNB the DOVES, with the RBNZ now joining the DOVES as well.\r\n\r\nWe have had so many short squeezes this year I have lost count. The squeezes are persistent and in two or three stages, relentless and 100% efficient at wiping out longs and shorts from the market.\r\n\r\nIs it any wonder that there has been what is often called a flight to safety with traders / institutions / corporate funds / pensions buying the USD?\r\n\r\nOn the USD dollar index (DXY) Monthly chart below, you can see the USD move higher in recent months. It was powerful and unrelenting. The target of 100.00 was too much for the markets not to miss. It should come as no surprise to any trader that after such a move higher that once the triple digit target of 100.00 was achieved that the index would pullback.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015.png\"><img class=\"aligncenter size-large wp-image-5910\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015-1024x534.png\" alt=\"DXY MONTHLY CHART 03052015\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\nWe have pulled back to about a 23.6% Fibonacci level around 95.00. This is shallow and if we hold here and return higher the move will be more powerful than the original move higher, and, in my opinion it will not just touch 100.00 and reverse it will go much higher.\r\n\r\nI have read so many articles saying that the USD is doomed and that no one wants to hold USD; what a complete load of crap. The USD is the flight to safety currency, not the JPY, CHF and certainly not the EUR.\r\n\r\nLooking ahead, we still have an OIL glut. The laws of “supply and demand” will have to apply soon. This is basic stuff. As we all know the OIL market is the most speculative market dominated by Hedge funds and millionaires looking for a quick buck based on high risk. OIL will return lower towards $40 again, sooner than we think. Even with increased demand for summer, the supply still exceeds demand. It cannot last for much longer.\r\n\r\nI have already mentioned GOLD. No inflation, the pressure has to be to the downside.\r\n\r\nPlus, we have Central Bank divergence, almost across the board. The FED and possibly the BOE line up opposite the remaining Central Banks, when it comes to Central bank monetary policy. This has to count for something dramatic moving forward in a zero inflation environment.\r\n\r\nFinally, are we seeing the equity markets pushing extremes? I believe we are finally at a turning point. Valuations are crazy and money poured into European bourses as soon as the ECB announced QE. We saw an initial buying frenzy and now a pullback. Equity markets around the world would appear to be at the stage of “punch-drunk” with regards to QE. Should equities start to pull back, this should provide USD strength.\r\n\r\nFor the above reasons, I think that it is rather premature to write off the USD. For sure we have stopped in the area of the 23.6% retracement and we are consolidating around the 95.00 level.\r\n\r\nIt would take a brave man with testicles the size of footballs (European style) to shout from the roof tops that the USD is toast. It would also take a brave man to say that the USD is about to bounce back and try a run back to 100.00. Just for the record, my testicles are of normal size and fully functional.\r\n\r\nWhen I first started trading I recall my training and one of my trainers telling me “Never fight the FED”. This is a great statement and one that I have never forgotten.\r\n\r\nWhilst I do believe we are at a crossroads with the USD, I also think that it is too early to write off the USD. If you do - it is a RISK.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nFrom time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 301 trades cost to trade = $30.10\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$383.90</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 301 trades cost to trade = $301.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$3,839.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 301 trades cost to trade = $3,010.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$38,390.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above PREMIUM SERVICE performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of differing sizes, from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n<p style=\"text-align: center;\"></p>\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\"><img class=\"aligncenter size-full wp-image-5880\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\" alt=\"PROFIT-LOSS RATIO 30042015\" width=\"416\" height=\"592\" /></a>\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\"><img class=\"aligncenter size-full wp-image-5881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\" alt=\"RISK-REWARD 30042015\" width=\"433\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\"><img class=\"aligncenter size-full wp-image-5878\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\" alt=\"PREM SERV PROFITS1 30042015\" width=\"463\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\"><img class=\"aligncenter size-full wp-image-5879\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\" alt=\"PREM SERV PROFITS2 30042015\" width=\"463\" height=\"439\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.5 – PREMIUM SERVICE 2014 – 2015 PIP COMPARISON</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\"><img class=\"aligncenter size-full wp-image-5890\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\" alt=\"PIP COMPARISON 2014-2015 30042015\" width=\"619\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<p style=\"text-align: center;\"><strong>CURRENCY CORRELATION EXPLAINED</strong></p>\r\nHave you ever noticed that when a certain currency pair rises, another currency pair falls? Or how about when that same currency pair falls, another currency pair seems to copy it and fall also?\r\n\r\nIf the answer is “Yes” you have just witnessed currency correlation in action!\r\n\r\nIf you answered “No”, do not worry, because we are going to start with the basics and break it down.\r\n\r\n<strong>CORRELATION: </strong>a relationship between two things.\r\n\r\n<strong>WHAT IS CURRENCY CORRELATION?</strong>\r\n\r\nIn the financial world, correlation is a statistical measure of how two securities <strong>move in relation to each other</strong>.\r\n\r\nCurrency Correlation then tells us <strong>whether two currency pairs move in the same, opposite, or totally random direction</strong>, over some period of time.\r\n\r\nWhen trading currencies, it is important to remember that since currencies are traded in pairs, that no single currency pair is ever totally isolated.\r\n\r\nUnless you plan on trading just one pair at a time, it is crucial that you understand how different currency pairs move in relation to each other, especially if you are not familiar with how currency correlations can affect the amount of risk you are exposing your trading account to.\r\n\r\nIf you don’t know what the heck you are doing when trading multiple pairs simultaneously in your trading account, you can get KILLED! Murdered! Destroyed! I can’t stress this enough.\r\n\r\nIn this lesson, you will learn what currency correlation is and how to use it to help you become a smarter trader and make more responsible risk management decisions.\r\n\r\nCorrelation is computed into what is known as the correlation coefficient, which ranges between -1 and +1.\r\n\r\n<strong>Perfect positive correlation </strong>(a correlation coefficient of +1) implies that the two currency pairs will move in the same direction 100% of the time.\r\n\r\n<strong>Perfect negative correlation </strong>(a correlation coefficient of -1) means that the two currency pairs will move in the opposite direction 100% of the time.\r\n\r\nIf the correlation is 0, the movements between two currency pairs is said to have ZERO or NO correlation, they are completely independent and random from each other. We have no idea how one pair will move in relation to the other.\r\n\r\n<strong> </strong>\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nWhat a week.\r\n\r\nLost pips…made pips…lost pips…made pips… the roller coaster of weeks.\r\n\r\nIt was as far as I was concerned one of those weeks when I was saying over and over to myself and my wife… woulda, coulda, shoulda… if only etc.\r\n\r\nI know from speaking to many of you that you all went on the roller coaster ride as well. Some of you unfortunately got chewed up and have not recovered. I am roughly, at about break even on the week in my own accounts, the PREMIUM SERVICE is up!!\r\n\r\nWe also completed another month of trading. April 2015 showed another improvement in pip return based against April 2014. April 2014 generated 688 pips and this year April generated 889 pips. Year to date 2015 total pips so far is ahead of 2014 by 1,116 pips. I am happy with this performance but like many traders I feel like we have completed a year already.\r\n\r\nIt certainly has been a hard year for trading, I am hoping that we calm down a little into some directional trading but I fear that this may be a false hope and that we will continue in the same routine for a while longer.\r\n\r\nThe great news about last week is that we have hopefully seen the end of the range bound market (except USD/JPY). Finally, it looks like we have broken free. However, as I have noted before, with range trading, do not be surprised to see false breakouts that pullback into the prior range in following sessions. Then all we have created is a wider trading range.\r\n\r\nRisks are still high; if we look at the equity markets across the globe they are at major inflection points and I think that it looks like the equity markets are going to implode. Lets see if that happens, should this happen we should get a flight to safety with the USD being bought across the board.\r\n\r\nMy fingers are crossed for a directional two or three trading days. Looking at specific currencies; I am bearish the GBP, NZD and AUD. These three currencies have high beta news events to contend with and if we have accommodative news we could have some really nice momentum moves ahead…. fingers crossed.\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-03052015.png\"><img class=\"aligncenter size-full wp-image-5907\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-03052015.png\" alt=\"PS LIVE TRADES 03052015\" width=\"721\" height=\"502\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-03052015.png\"><img class=\"aligncenter size-full wp-image-5906\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-03052015.png\" alt=\"PS LIMIT ORDERS 03052015\" width=\"718\" height=\"396\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nGREECE still worries me, and, I still think we have a default coming. Now we also have a UK election this week.\r\n\r\nThis week there are only two charts. I am LIVE in trades and I do want to add any more RISK at this stage. The Commodity Cross rate pairs will come on stream probably after the UK election.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-240M-03052015.png\"><img class=\"aligncenter size-large wp-image-5911\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-240M-03052015-1024x519.png\" alt=\"GBPUSD 240M 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-60M-03052015.png\"><img class=\"aligncenter size-large wp-image-5912\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-60M-03052015-1024x519.png\" alt=\"AUDUSD 60M 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/TRENDING-PAIRS-03052015.png\"><img class=\"aligncenter size-full wp-image-5908\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/TRENDING-PAIRS-03052015.png\" alt=\"TRENDING PAIRS 03052015\" width=\"393\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.1188</strong>\r\n\r\nWe could be at a crossroads with this pair. I never expected to see the EUR/USD around 1.1300. The moves in the past week took me completely by surprise. I think we are now at the point where support at 1.1040–1.1050 needs to hold should we continue to pullback. If 1.1050 does not support a move lower then I think we are going to have the bears in control once again.\r\n\r\nNever underestimate the FED. We have the ECB pulling one way and the FED in the opposite direction. The natural path for the EUR/USD is lower given the divergent Central bank policies.\r\n\r\nIt is a big week for the USD. Was Friday’s strength just a blip or was it the start of a move higher in the DXY?\r\n\r\nGeopolitical news surrounding GREECE is hanging over this pair and it is difficult to read. The best policy may be to avoid it until the GREECE situation is sorted.\r\n\r\nSupport in the EUR/USD is at 1.1100 then below a big 1.1050 level. Resistance is at 1.1285.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5904\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-03052015-1024x519.png\" alt=\"EURUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5116</strong>.\r\n\r\nThe weekly chart-closing candle says it all. I am expecting pressure on the cable running up to the May 7<sup>th</sup> election. Then after this date we could have a great deal of further uncertainty as it looks like a coalition government of some sort will need to be formed.\r\n\r\nSupport should be at 1.5000 and resistance at 1.5130 then 1.5250\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5903\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-03052015-1024x519.png\" alt=\"GBPUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7835</strong>.\r\n\r\nA huge week for AUD news is on the horizon, the biggest event being the interest rate decision. There are many calls for the RBA to cut rates. In the past few days the AUD has been under pressure.\r\n\r\nFrom the chart below it is clear to see that we have a bearish closing weekly candle that indicates more downside pressure.\r\n\r\nSupport should now be at 0.7740 and resistance at 0.7850.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5905\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-03052015-1024x519.png\" alt=\"AUDUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7519</strong>.\r\n\r\nThis pair following the RBNZ Rate announcement and policy statement earlier last week is firmly bearish.\r\n\r\nThe weekly closing candle is a shooting star that usually indicates a bearish move. FUNDAMENTALLY, I have been bearish this pair for some time and now with the RBNZ basically saying that rate increases are off the table the door is open for a move lower.\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5902\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-03052015-1024x519.png\" alt=\"NZDUSD W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2140.</strong>\r\n\r\nWe have a hanging man candle to close the weekly chart. This is a reversal candle and as such should indicate a move higher in this pair.\r\n\r\nThe next stopping point higher for me is really 1.2350 and I would imagine that there are plenty of sellers there waiting to short. Support should be good at 1.2060.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5901\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-03052015-1024x519.png\" alt=\"USDCAD W 03052015\" width=\"1024\" height=\"519\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9317</strong>.\r\n\r\nI think that the uncertainty over GREECE is finally manifesting itself in the CHF. I would stay clear until the GREECE situation is resolved.\r\n\r\nSupport is at 0.9250 and resistance at 0.9450.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5900\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-03052015-1024x519.png\" alt=\"USDCHF W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 120.05. </strong>\r\n\r\nDespite a big move up this week in comparison to last weeks close we are still in a range. I think, when I look back that it has been stuck in this range for over 4 months, and, I see no way out for the time being.\r\n\r\nIf you are range trader enjoy… If not stay away.\r\n\r\nSupport is at 119.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-03052015.png\"><img class=\"aligncenter size-large wp-image-5899\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-03052015-1024x519.png\" alt=\"USDJPY W 03052015\" width=\"1024\" height=\"519\" /></a>\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nAUD news is almost daily, there is also major NZD news this week, but the highlights will be the U.S. employment data.\r\n\r\nAdd to the economic data, the GREECE news and the UK General Election and it has the makings of a big week.\r\n\r\nPlus… we also have a potential move back towards 100.00 in the DXY. I am not yet convinced about this yet, but we have the potential to move.\r\n\r\nThe bottom line is however, be careful and do not get too carried away. It is always safer when high-beta news is hovering to establish smaller positions with wider stop losses in position.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 3rd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u><u> </u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','IS IT TOO EARLY TO WRITE OFF THE USD?','','inherit','open','closed','','5913-revision-v1','','','2015-05-02 12:38:37','2015-05-02 17:38:37','',5913,'https://weeklyfxdrivethru.com/5913-revision-v1/',0,'revision','',0),(5916,1,'2015-05-02 12:42:25','2015-05-02 17:42:25','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/STEPS-TO-TAKE-WHEN-FACED-WITH-STRESSFUL-FOREX-SITUATIONS.pdf\">STEPS TO TAKE WHEN FACED WITH STRESSFUL FOREX SITUATIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/TRADING-HABITS-THAT-WILL-HELP-YOU-MANAGE-YOUR-OPEN-POSITIONS.pdf\">TRADING HABITS THAT WILL HELP YOU MANAGE YOUR OPEN POSITIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf\">HOW TO PLAN YOUR FOREX TRADE EXITS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf\">THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/FOUR-PSYCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf\">FOUR PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-MOST-OVERLOOKED-RISKS-IN-TRADING-AND-HOW-TO-ADDRESS-THEM.pdf\">THE MOST OVERLOOKED RISKS IN TRADING AND HOW TO ADDRESS THEM</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/HOW-MUCH-TRADING-CAPITAL-DO-YOU-NEED-FOR-FOREX-TRADING.pdf\">HOW MUCH TRADING CAPITAL DO YOU NEED FOR FOREX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CURRENCY-CORRELATION-EXPLAINED.pdf\">CURRENCY CORRELATION EXPLAINED</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-05-02 12:42:25','2015-05-02 17:42:25','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5917,1,'2015-05-03 04:14:32','2015-05-03 09:14:32','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 03.05.2015\r\nREFERENCE: #151\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nWhat a hell of a ride last week was.\r\n\r\nWhen I was involved in Sales Training, courses contained sections on what is the typical profile of a sales person. The typical profile of sales person would show that this person is emotionally driven and that salespeople feel and experience highs and lows on a very frequent basis. Depending upon the type of sales process, it can range from an extreme high to an extreme low in an hour! I felt like that last week. I try not to get emotional but it is very, very difficult at times not to go bananas, in response to a move that was unexpected and not explainable. Last week I was that person.\r\n\r\n<u>FOMC RATE STATEMENT:</u>\r\n\r\nOn Wednesday last week, the FOMC released a much-anticipated update on how the FED views matters from an economic viewpoint. This was the day after an absolutely poor GDP print.\r\n\r\nThe U.S. data despite the U.S. gun-ho approach on all things USA (we are bigger and we are better and because we have booming voices we are correct so listen) has been weak of late. Let’s be honest here. The consumer is NOT buying and without consumer spending, I could not give a rats hairy a** about any data that is produced. If there is no spending, there is no growth no matter how loud your voices are.\r\n\r\nIs it any wonder the FOMC are scared to increase rates, they have to because they said that they would, but I would say that Janet Yellen is not a happy bunny in the mornings when she pours out her cornflakes.\r\n\r\nThe FOMC statement was viewed as HAWKISH. Jesus, Mary and Joseph how and why? Basically, to cut a long story short, they did NOT rule out a June rate hike. Go figure. As far as I can see the FOMC / FED have been fairly consistent with comments if you ignore the underlings and concentrate on the decision makers. Nothing has materially changed. Yet the children on Wall Street that need their diapers changing as they have no control of anything unless the FED gives them a backstop from where to trade from, have repeatedly read FOMC statements DOVISH or HAWKISH on basically the same vocabulary. Is it any wonder these markets can drive you drink?\r\n\r\n<u>RBNZ RATE STATEMENT:</u>\r\n\r\nSo my buddy Graeme Wheeler (Governor of the RBNZ) released the latest statement on all things New Zealand. Prior to the statement his sidekick, deputy governor English, had announced that things were in a bit of a fix and the RBNZ were no longer on a policy of increasing rates.\r\n\r\nSince last Wednesday, the NZD has been under pressure heading lower. Basically, nothing new came out of the statement. Even when the NZD/USD was heading to 0.8000 the RBNZ had been saying it was overvalued. Other geopolitical events have made the RBNZ fall in line, otherwise they would be screwed. They have to enter the currency war regardless. Do not forget John Key, the NZ Prime Minister, has already said that he sees the NZD/USD trading at 0.6500.\r\n\r\nThe PREMIUM SERVICE is currently short the NZD/USD and, next week I am looking to provide subscribers with trade set-ups to enter long on the commodity cross-rates that affect the NZD currency.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nIt looks like Varoufakis is being sidelined from negotiations. Being honest, there are so many damn deadlines and cash requirements to meet these deadlines that come and go that I do not know what to believe.\r\n\r\nWhen a deal is made, or a default happens, that is when to get excited. For now, I think about it when I am trading, but for the moment it is not at the front of my mind.\r\n\r\nIn my opinion, the CONTAGION looms and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This is the equivalent of a west-end farce played out in front of the world’s media and does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nI still believe that this is going to eventually end in tears.\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nThis is still ongoing, however, it is now page 7 news and not hitting the front pages anymore.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nIt should all kick-off next week. The 7<sup>th</sup> May is the UK election date. The GBP/USD started to implode late Thursday into Friday last week and I think that more of the same will happen.\r\n\r\nA trader friend of my last weekend asked me did I see the GBP/USD at 1.6000 prior to the election. I answered by saying that I thought a small spike might be seen from the price of 1.5200 at that time to about 1.5300. We went to 1.5500 before turning back lower towards 1.5100. I said that I felt that all the pressure would be to the downside. 1.5500 was a shock to me. But, last week there were some crazy moves across many pairs.\r\n\r\nEd Miliband (Labour Party Leader) may have shot himself in the foot by ruling out a coalition with the Scottish Nationalist Party (SNP) if there was a minority government and his party was the biggest and given first go at forming a government.\r\n\r\nThis has created even more uncertainty. Next week this will be a fascinating story to watch unfold, I will be glued overnight to BBC World News in Canada watching.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: AUD – Trade Balance.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\nTUESDAY: NZD – Dairy Auction Prices\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: GBP – General Elections.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change.\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nAt long last after a week of extreme moves we are now moving more freely and instead of being range bound we are now exposing bullish and bearish patterns / chart set-ups and potentially some bigger moves on the horizon.\r\n\r\nDo not get carried away yet. I think that next week providing that we do not see a GREECE settlement we should see (except for GBP related pairs) a consolidation of Friday’s moves before the decision is the USD (DXY) going higher or lower.\r\n\r\nIf the currency wars are to be believed; the USD (DXY) should be heading back towards 100.00 eventually. The pleasing thing about Friday’s move in currencies was that across the board it was a USD move.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT TOO EARLY TO WRITE OFF THE USD?</strong></p>\r\nWithout doubt, this has been a strange year trading Forex.\r\n\r\nSo far we have accommodated: -\r\n<ul>\r\n	<li>Thomas Jordan (SNB Governor) having his day in the sun by removing the EUR/CHF peg and allowing the CHF to free float.</li>\r\n	<li>Janet Yellen has been struggling with language in the FOMC statements over the FED rate hike that she has committed to in 2015. She has been, meeting by meeting, trying to keep the markets as stable as possible, by updating language definitions in FED policy statements.</li>\r\n	<li>The BOJ has been dithering over more Quantitative Easing (QE) or not?</li>\r\n	<li>The ECB has introduced Quantitative Easing (QE) and looks to have accommodative / supportive policies in place for at least another 12-18 months.</li>\r\n	<li>The price of OIL tanked lower (sorry about that pun).</li>\r\n	<li>GOLD has been spiking up then spiking down. In a world of zero inflation why the yellow metal is not sitting at $700 really does surprise me.</li>\r\n	<li>Central Banks have intensified the “Race to the bottom”… currency wars are alive and well and fully functional. The FED and possibly the BOE are the HAWKS, with the BOJ, ECB, RBA, BOC and SNB the DOVES, with the RBNZ now joining the DOVES as well.</li>\r\n	<li>We have had so many short squeezes this year I have lost count. The squeezes are persistent and in two or three stages, relentless and 100% efficient at wiping out longs and shorts from the market.</li>\r\n</ul>\r\nIs it any wonder that there has been what is often called a flight to safety with traders / institutions / corporate funds / pensions buying the USD?\r\n\r\nOn the USD dollar index (DXY) Monthly chart below, you can see the USD move higher in recent months. It was powerful and unrelenting. The target of 100.00 was too much for the markets not to miss. It should come as no surprise to any trader that after such a move higher that once the triple digit target of 100.00 was achieved that the index would pullback.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015.png\"><img class=\"aligncenter size-large wp-image-5910\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015-1024x534.png\" alt=\"DXY MONTHLY CHART 03052015\" width=\"1024\" height=\"534\" /></a>\r\n\r\nWe have pulled back to about a 23.6% Fibonacci level around 95.00. This is shallow and if we hold here and return higher the move will be more powerful than the original move higher, and, in my opinion it will not just touch 100.00 and reverse it will go much higher.\r\n\r\nI have read so many articles saying that the USD is doomed and that no one wants to hold USD; what a complete load of crap. The USD is the flight to safety currency, not the JPY, CHF and certainly not the EUR.\r\n\r\nLooking ahead, we still have an OIL glut. The laws of “supply and demand” will have to apply soon. This is basic stuff. As we all know the OIL market is the most speculative market dominated by Hedge funds and millionaires looking for a quick buck based on high risk. OIL will return lower towards $40 again, sooner than we think. Even with increased demand for summer, the supply still exceeds demand. It cannot last for much longer.\r\n\r\nI have already mentioned GOLD. No inflation, the pressure has to be to the downside.\r\n\r\nPlus, we have Central Bank divergence, almost across the board. The FED and possibly the BOE line up opposite the remaining Central Banks, when it comes to Central bank monetary policy. This has to count for something dramatic moving forward in a zero inflation environment.\r\n\r\nFinally, are we seeing the equity markets pushing extremes? I believe we are finally at a turning point. Valuations are crazy and money poured into European bourses as soon as the ECB announced QE. We saw an initial buying frenzy and now a pullback. Equity markets around the world would appear to be at the stage of “punch-drunk” with regards to QE. Should equities start to pull back, this should provide USD strength.\r\n\r\nFor the above reasons, I think that it is rather premature to write off the USD. For sure we have stopped in the area of the 23.6% retracement and we are consolidating around the 95.00 level.\r\n\r\nIt would take a brave man with testicles the size of footballs (European style) to shout from the roof tops that the USD is toast. It would also take a brave man to say that the USD is about to bounce back and try a run back to 100.00. Just for the record, my testicles are of normal size and fully functional.\r\n\r\nWhen I first started trading I recall my training and one of my trainers telling me “Never fight the FED”. This is a great statement and one that I have never forgotten.\r\n\r\nWhilst I do believe we are at a crossroads with the USD, I also think that it is too early to write off the USD. If you do - it is a RISK.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of www.weeklyfxdrivethru.com</li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n(Right now there is a special promotion available on the 12 month GOLD subscription. Buy one year get one additional included FREE subject to opening an broker account with one of my preferred brokers. Details on my website  www.weeklyfxdrivethru.com  on the landing page under the PROMOTIONS tab)\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at www.weeklyfxdrivethru.com</li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:\r\n</u>From time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></span></p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 301 trades cost to trade = $30.10\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$383.90</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 301 trades cost to trade = $301.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$3,839.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 301 trades cost to trade = $3,010.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$38,390.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above PREMIUM SERVICE performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of differing sizes, from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\"><img class=\"aligncenter size-full wp-image-5880\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\" alt=\"PROFIT-LOSS RATIO 30042015\" width=\"416\" height=\"592\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\"><img class=\"aligncenter size-full wp-image-5881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\" alt=\"RISK-REWARD 30042015\" width=\"433\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\"><img class=\"aligncenter size-full wp-image-5878\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\" alt=\"PREM SERV PROFITS1 30042015\" width=\"463\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\"><img class=\"aligncenter size-full wp-image-5879\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\" alt=\"PREM SERV PROFITS2 30042015\" width=\"463\" height=\"439\" /></a>\r\n\r\n<u>3.2.5 – PREMIUM SERVICE 2014 – 2015 PIP COMPARISON</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\"><img class=\"aligncenter size-full wp-image-5890\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\" alt=\"PIP COMPARISON 2014-2015 30042015\" width=\"619\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nAUD news is almost daily, there is also major NZD news this week, but the highlights will be the U.S. employment data.\r\n\r\nAdd to the economic data, the GREECE news and the UK General Election and it has the makings of a big week.\r\n\r\nPlus… we also have a potential move back towards 100.00 in the DXY. I am not yet convinced about this yet, but we have the potential to move.\r\n\r\nThe bottom line is however, be careful and do not get too carried away. It is always safer when high-beta news is hovering to establish smaller positions with wider stop losses in position\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 3rd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any.','IS IT TOO EARLY TO WRITE OFF THE USD?','','publish','open','closed','','is-it-too-early-to-write-off-the-usd','','','2015-05-03 04:14:32','2015-05-03 09:14:32','',0,'https://weeklyfxdrivethru.com/?p=5917',0,'post','',0),(5918,1,'2015-05-03 04:12:14','2015-05-03 09:12:14','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 03.05.2015\r\nREFERENCE: #151\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nWhat a hell of a ride last week was.\r\n\r\nWhen I was involved in Sales Training, courses contained sections on what is the typical profile of a sales person. The typical profile of sales person would show that this person is emotionally driven and that salespeople feel and experience highs and lows on a very frequent basis. Depending upon the type of sales process, it can range from an extreme high to an extreme low in an hour! I felt like that last week. I try not to get emotional but it is very, very difficult at times not to go bananas, in response to a move that was unexpected and not explainable. Last week I was that person.\r\n\r\n<u>FOMC RATE STATEMENT:</u>\r\n\r\nOn Wednesday last week, the FOMC released a much-anticipated update on how the FED views matters from an economic viewpoint. This was the day after an absolutely poor GDP print.\r\n\r\nThe U.S. data despite the U.S. gun-ho approach on all things USA (we are bigger and we are better and because we have booming voices we are correct so listen) has been weak of late. Let’s be honest here. The consumer is NOT buying and without consumer spending, I could not give a rats hairy a** about any data that is produced. If there is no spending, there is no growth no matter how loud your voices are.\r\n\r\nIs it any wonder the FOMC are scared to increase rates, they have to because they said that they would, but I would say that Janet Yellen is not a happy bunny in the mornings when she pours out her cornflakes.\r\n\r\nThe FOMC statement was viewed as HAWKISH. Jesus, Mary and Joseph how and why? Basically, to cut a long story short, they did NOT rule out a June rate hike. Go figure. As far as I can see the FOMC / FED have been fairly consistent with comments if you ignore the underlings and concentrate on the decision makers. Nothing has materially changed. Yet the children on Wall Street that need their diapers changing as they have no control of anything unless the FED gives them a backstop from where to trade from, have repeatedly read FOMC statements DOVISH or HAWKISH on basically the same vocabulary. Is it any wonder these markets can drive you drink?\r\n\r\n<u>RBNZ RATE STATEMENT:</u>\r\n\r\nSo my buddy Graeme Wheeler (Governor of the RBNZ) released the latest statement on all things New Zealand. Prior to the statement his sidekick, deputy governor English, had announced that things were in a bit of a fix and the RBNZ were no longer on a policy of increasing rates.\r\n\r\nSince last Wednesday, the NZD has been under pressure heading lower. Basically, nothing new came out of the statement. Even when the NZD/USD was heading to 0.8000 the RBNZ had been saying it was overvalued. Other geopolitical events have made the RBNZ fall in line, otherwise they would be screwed. They have to enter the currency war regardless. Do not forget John Key, the NZ Prime Minister, has already said that he sees the NZD/USD trading at 0.6500.\r\n\r\nThe PREMIUM SERVICE is currently short the NZD/USD and, next week I am looking to provide subscribers with trade set-ups to enter long on the commodity cross-rates that affect the NZD currency.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nIt looks like Varoufakis is being sidelined from negotiations. Being honest, there are so many damn deadlines and cash requirements to meet these deadlines that come and go that I do not know what to believe.\r\n\r\nWhen a deal is made, or a default happens, that is when to get excited. For now, I think about it when I am trading, but for the moment it is not at the front of my mind.\r\n\r\nIn my opinion, the CONTAGION looms and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This is the equivalent of a west-end farce played out in front of the world’s media and does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nI still believe that this is going to eventually end in tears.\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nThis is still ongoing, however, it is now page 7 news and not hitting the front pages anymore.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nIt should all kick-off next week. The 7<sup>th</sup> May is the UK election date. The GBP/USD started to implode late Thursday into Friday last week and I think that more of the same will happen.\r\n\r\nA trader friend of my last weekend asked me did I see the GBP/USD at 1.6000 prior to the election. I answered by saying that I thought a small spike might be seen from the price of 1.5200 at that time to about 1.5300. We went to 1.5500 before turning back lower towards 1.5100. I said that I felt that all the pressure would be to the downside. 1.5500 was a shock to me. But, last week there were some crazy moves across many pairs.\r\n\r\nEd Miliband (Labour Party Leader) may have shot himself in the foot by ruling out a coalition with the Scottish Nationalist Party (SNP) if there was a minority government and his party was the biggest and given first go at forming a government.\r\n\r\nThis has created even more uncertainty. Next week this will be a fascinating story to watch unfold, I will be glued overnight to BBC World News in Canada watching.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: AUD – Trade Balance.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\nTUESDAY: NZD – Dairy Auction Prices\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: GBP – General Elections.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change.\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nAt long last after a week of extreme moves we are now moving more freely and instead of being range bound we are now exposing bullish and bearish patterns / chart set-ups and potentially some bigger moves on the horizon.\r\n\r\nDo not get carried away yet. I think that next week providing that we do not see a GREECE settlement we should see (except for GBP related pairs) a consolidation of Friday’s moves before the decision is the USD (DXY) going higher or lower.\r\n\r\nIf the currency wars are to be believed; the USD (DXY) should be heading back towards 100.00 eventually. The pleasing thing about Friday’s move in currencies was that across the board it was a USD move.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT TOO EARLY TO WRITE OFF THE USD?</strong></p>\r\nWithout doubt, this has been a strange year trading Forex.\r\n\r\nSo far we have accommodated: -\r\n<ul>\r\n	<li>Thomas Jordan (SNB Governor) having his day in the sun by removing the EUR/CHF peg and allowing the CHF to free float.</li>\r\n	<li>Janet Yellen has been struggling with language in the FOMC statements over the FED rate hike that she has committed to in 2015. She has been, meeting by meeting, trying to keep the markets as stable as possible, by updating language definitions in FED policy statements.</li>\r\n	<li>The BOJ has been dithering over more Quantitative Easing (QE) or not?</li>\r\n	<li>The ECB has introduced Quantitative Easing (QE) and looks to have accommodative / supportive policies in place for at least another 12-18 months.</li>\r\n	<li>The price of OIL tanked lower (sorry about that pun).</li>\r\n	<li>GOLD has been spiking up then spiking down. In a world of zero inflation why the yellow metal is not sitting at $700 really does surprise me.</li>\r\n	<li>Central Banks have intensified the “Race to the bottom”… currency wars are alive and well and fully functional. The FED and possibly the BOE are the HAWKS, with the BOJ, ECB, RBA, BOC and SNB the DOVES, with the RBNZ now joining the DOVES as well.</li>\r\n	<li>We have had so many short squeezes this year I have lost count. The squeezes are persistent and in two or three stages, relentless and 100% efficient at wiping out longs and shorts from the market.</li>\r\n</ul>\r\nIs it any wonder that there has been what is often called a flight to safety with traders / institutions / corporate funds / pensions buying the USD?\r\n\r\nOn the USD dollar index (DXY) Monthly chart below, you can see the USD move higher in recent months. It was powerful and unrelenting. The target of 100.00 was too much for the markets not to miss. It should come as no surprise to any trader that after such a move higher that once the triple digit target of 100.00 was achieved that the index would pullback.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015.png\"><img class=\"aligncenter size-large wp-image-5910\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015-1024x534.png\" alt=\"DXY MONTHLY CHART 03052015\" width=\"1024\" height=\"534\" /></a>\r\n\r\nWe have pulled back to about a 23.6% Fibonacci level around 95.00. This is shallow and if we hold here and return higher the move will be more powerful than the original move higher, and, in my opinion it will not just touch 100.00 and reverse it will go much higher.\r\n\r\nI have read so many articles saying that the USD is doomed and that no one wants to hold USD; what a complete load of crap. The USD is the flight to safety currency, not the JPY, CHF and certainly not the EUR.\r\n\r\nLooking ahead, we still have an OIL glut. The laws of “supply and demand” will have to apply soon. This is basic stuff. As we all know the OIL market is the most speculative market dominated by Hedge funds and millionaires looking for a quick buck based on high risk. OIL will return lower towards $40 again, sooner than we think. Even with increased demand for summer, the supply still exceeds demand. It cannot last for much longer.\r\n\r\nI have already mentioned GOLD. No inflation, the pressure has to be to the downside.\r\n\r\nPlus, we have Central Bank divergence, almost across the board. The FED and possibly the BOE line up opposite the remaining Central Banks, when it comes to Central bank monetary policy. This has to count for something dramatic moving forward in a zero inflation environment.\r\n\r\nFinally, are we seeing the equity markets pushing extremes? I believe we are finally at a turning point. Valuations are crazy and money poured into European bourses as soon as the ECB announced QE. We saw an initial buying frenzy and now a pullback. Equity markets around the world would appear to be at the stage of “punch-drunk” with regards to QE. Should equities start to pull back, this should provide USD strength.\r\n\r\nFor the above reasons, I think that it is rather premature to write off the USD. For sure we have stopped in the area of the 23.6% retracement and we are consolidating around the 95.00 level.\r\n\r\nIt would take a brave man with testicles the size of footballs (European style) to shout from the roof tops that the USD is toast. It would also take a brave man to say that the USD is about to bounce back and try a run back to 100.00. Just for the record, my testicles are of normal size and fully functional.\r\n\r\nWhen I first started trading I recall my training and one of my trainers telling me “Never fight the FED”. This is a great statement and one that I have never forgotten.\r\n\r\nWhilst I do believe we are at a crossroads with the USD, I also think that it is too early to write off the USD. If you do - it is a RISK.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n\r\n</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of www.weeklyfxdrivethru.com</li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n(Right now there is a special promotion available on the 12 month GOLD subscription. Buy one year get one additional included FREE subject to opening an broker account with one of my preferred brokers. Details on my website  www.weeklyfxdrivethru.com  on the landing page under the PROMOTIONS tab)\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at www.weeklyfxdrivethru.com</li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:\r\n</u>From time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n\r\n</u>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></span></p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 301 trades cost to trade = $30.10\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$383.90</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 301 trades cost to trade = $301.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$3,839.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 301 trades cost to trade = $3,010.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$38,390.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above PREMIUM SERVICE performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of differing sizes, from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\"><img class=\"aligncenter size-full wp-image-5880\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\" alt=\"PROFIT-LOSS RATIO 30042015\" width=\"416\" height=\"592\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\"><img class=\"aligncenter size-full wp-image-5881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\" alt=\"RISK-REWARD 30042015\" width=\"433\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\"><img class=\"aligncenter size-full wp-image-5878\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\" alt=\"PREM SERV PROFITS1 30042015\" width=\"463\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\"><img class=\"aligncenter size-full wp-image-5879\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\" alt=\"PREM SERV PROFITS2 30042015\" width=\"463\" height=\"439\" /></a>\r\n\r\n<u>3.2.5 – PREMIUM SERVICE 2014 – 2015 PIP COMPARISON</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\"><img class=\"aligncenter size-full wp-image-5890\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\" alt=\"PIP COMPARISON 2014-2015 30042015\" width=\"619\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nAUD news is almost daily, there is also major NZD news this week, but the highlights will be the U.S. employment data.\r\n\r\nAdd to the economic data, the GREECE news and the UK General Election and it has the makings of a big week.\r\n\r\nPlus… we also have a potential move back towards 100.00 in the DXY. I am not yet convinced about this yet, but we have the potential to move.\r\n\r\nThe bottom line is however, be careful and do not get too carried away. It is always safer when high-beta news is hovering to establish smaller positions with wider stop losses in position\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 3rd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any.','IS IT TOO EARLY TO WRITE OFF THE USD?','','inherit','open','closed','','5917-revision-v1','','','2015-05-03 04:12:14','2015-05-03 09:12:14','',5917,'https://weeklyfxdrivethru.com/5917-revision-v1/',0,'revision','',0),(5919,1,'2015-05-03 04:14:18','2015-05-03 09:14:18','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 03.05.2015\r\nREFERENCE: #151\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nWhat a hell of a ride last week was.\r\n\r\nWhen I was involved in Sales Training, courses contained sections on what is the typical profile of a sales person. The typical profile of sales person would show that this person is emotionally driven and that salespeople feel and experience highs and lows on a very frequent basis. Depending upon the type of sales process, it can range from an extreme high to an extreme low in an hour! I felt like that last week. I try not to get emotional but it is very, very difficult at times not to go bananas, in response to a move that was unexpected and not explainable. Last week I was that person.\r\n\r\n<u>FOMC RATE STATEMENT:</u>\r\n\r\nOn Wednesday last week, the FOMC released a much-anticipated update on how the FED views matters from an economic viewpoint. This was the day after an absolutely poor GDP print.\r\n\r\nThe U.S. data despite the U.S. gun-ho approach on all things USA (we are bigger and we are better and because we have booming voices we are correct so listen) has been weak of late. Let’s be honest here. The consumer is NOT buying and without consumer spending, I could not give a rats hairy a** about any data that is produced. If there is no spending, there is no growth no matter how loud your voices are.\r\n\r\nIs it any wonder the FOMC are scared to increase rates, they have to because they said that they would, but I would say that Janet Yellen is not a happy bunny in the mornings when she pours out her cornflakes.\r\n\r\nThe FOMC statement was viewed as HAWKISH. Jesus, Mary and Joseph how and why? Basically, to cut a long story short, they did NOT rule out a June rate hike. Go figure. As far as I can see the FOMC / FED have been fairly consistent with comments if you ignore the underlings and concentrate on the decision makers. Nothing has materially changed. Yet the children on Wall Street that need their diapers changing as they have no control of anything unless the FED gives them a backstop from where to trade from, have repeatedly read FOMC statements DOVISH or HAWKISH on basically the same vocabulary. Is it any wonder these markets can drive you drink?\r\n\r\n<u>RBNZ RATE STATEMENT:</u>\r\n\r\nSo my buddy Graeme Wheeler (Governor of the RBNZ) released the latest statement on all things New Zealand. Prior to the statement his sidekick, deputy governor English, had announced that things were in a bit of a fix and the RBNZ were no longer on a policy of increasing rates.\r\n\r\nSince last Wednesday, the NZD has been under pressure heading lower. Basically, nothing new came out of the statement. Even when the NZD/USD was heading to 0.8000 the RBNZ had been saying it was overvalued. Other geopolitical events have made the RBNZ fall in line, otherwise they would be screwed. They have to enter the currency war regardless. Do not forget John Key, the NZ Prime Minister, has already said that he sees the NZD/USD trading at 0.6500.\r\n\r\nThe PREMIUM SERVICE is currently short the NZD/USD and, next week I am looking to provide subscribers with trade set-ups to enter long on the commodity cross-rates that affect the NZD currency.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nIt looks like Varoufakis is being sidelined from negotiations. Being honest, there are so many damn deadlines and cash requirements to meet these deadlines that come and go that I do not know what to believe.\r\n\r\nWhen a deal is made, or a default happens, that is when to get excited. For now, I think about it when I am trading, but for the moment it is not at the front of my mind.\r\n\r\nIn my opinion, the CONTAGION looms and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This is the equivalent of a west-end farce played out in front of the world’s media and does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nI still believe that this is going to eventually end in tears.\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nThis is still ongoing, however, it is now page 7 news and not hitting the front pages anymore.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nIt should all kick-off next week. The 7<sup>th</sup> May is the UK election date. The GBP/USD started to implode late Thursday into Friday last week and I think that more of the same will happen.\r\n\r\nA trader friend of my last weekend asked me did I see the GBP/USD at 1.6000 prior to the election. I answered by saying that I thought a small spike might be seen from the price of 1.5200 at that time to about 1.5300. We went to 1.5500 before turning back lower towards 1.5100. I said that I felt that all the pressure would be to the downside. 1.5500 was a shock to me. But, last week there were some crazy moves across many pairs.\r\n\r\nEd Miliband (Labour Party Leader) may have shot himself in the foot by ruling out a coalition with the Scottish Nationalist Party (SNP) if there was a minority government and his party was the biggest and given first go at forming a government.\r\n\r\nThis has created even more uncertainty. Next week this will be a fascinating story to watch unfold, I will be glued overnight to BBC World News in Canada watching.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: AUD – Trade Balance.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\nTUESDAY: NZD – Dairy Auction Prices\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: GBP – General Elections.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change.\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nAt long last after a week of extreme moves we are now moving more freely and instead of being range bound we are now exposing bullish and bearish patterns / chart set-ups and potentially some bigger moves on the horizon.\r\n\r\nDo not get carried away yet. I think that next week providing that we do not see a GREECE settlement we should see (except for GBP related pairs) a consolidation of Friday’s moves before the decision is the USD (DXY) going higher or lower.\r\n\r\nIf the currency wars are to be believed; the USD (DXY) should be heading back towards 100.00 eventually. The pleasing thing about Friday’s move in currencies was that across the board it was a USD move.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT TOO EARLY TO WRITE OFF THE USD?</strong></p>\r\nWithout doubt, this has been a strange year trading Forex.\r\n\r\nSo far we have accommodated: -\r\n<ul>\r\n	<li>Thomas Jordan (SNB Governor) having his day in the sun by removing the EUR/CHF peg and allowing the CHF to free float.</li>\r\n	<li>Janet Yellen has been struggling with language in the FOMC statements over the FED rate hike that she has committed to in 2015. She has been, meeting by meeting, trying to keep the markets as stable as possible, by updating language definitions in FED policy statements.</li>\r\n	<li>The BOJ has been dithering over more Quantitative Easing (QE) or not?</li>\r\n	<li>The ECB has introduced Quantitative Easing (QE) and looks to have accommodative / supportive policies in place for at least another 12-18 months.</li>\r\n	<li>The price of OIL tanked lower (sorry about that pun).</li>\r\n	<li>GOLD has been spiking up then spiking down. In a world of zero inflation why the yellow metal is not sitting at $700 really does surprise me.</li>\r\n	<li>Central Banks have intensified the “Race to the bottom”… currency wars are alive and well and fully functional. The FED and possibly the BOE are the HAWKS, with the BOJ, ECB, RBA, BOC and SNB the DOVES, with the RBNZ now joining the DOVES as well.</li>\r\n	<li>We have had so many short squeezes this year I have lost count. The squeezes are persistent and in two or three stages, relentless and 100% efficient at wiping out longs and shorts from the market.</li>\r\n</ul>\r\nIs it any wonder that there has been what is often called a flight to safety with traders / institutions / corporate funds / pensions buying the USD?\r\n\r\nOn the USD dollar index (DXY) Monthly chart below, you can see the USD move higher in recent months. It was powerful and unrelenting. The target of 100.00 was too much for the markets not to miss. It should come as no surprise to any trader that after such a move higher that once the triple digit target of 100.00 was achieved that the index would pullback.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015.png\"><img class=\"aligncenter size-large wp-image-5910\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015-1024x534.png\" alt=\"DXY MONTHLY CHART 03052015\" width=\"1024\" height=\"534\" /></a>\r\n\r\nWe have pulled back to about a 23.6% Fibonacci level around 95.00. This is shallow and if we hold here and return higher the move will be more powerful than the original move higher, and, in my opinion it will not just touch 100.00 and reverse it will go much higher.\r\n\r\nI have read so many articles saying that the USD is doomed and that no one wants to hold USD; what a complete load of crap. The USD is the flight to safety currency, not the JPY, CHF and certainly not the EUR.\r\n\r\nLooking ahead, we still have an OIL glut. The laws of “supply and demand” will have to apply soon. This is basic stuff. As we all know the OIL market is the most speculative market dominated by Hedge funds and millionaires looking for a quick buck based on high risk. OIL will return lower towards $40 again, sooner than we think. Even with increased demand for summer, the supply still exceeds demand. It cannot last for much longer.\r\n\r\nI have already mentioned GOLD. No inflation, the pressure has to be to the downside.\r\n\r\nPlus, we have Central Bank divergence, almost across the board. The FED and possibly the BOE line up opposite the remaining Central Banks, when it comes to Central bank monetary policy. This has to count for something dramatic moving forward in a zero inflation environment.\r\n\r\nFinally, are we seeing the equity markets pushing extremes? I believe we are finally at a turning point. Valuations are crazy and money poured into European bourses as soon as the ECB announced QE. We saw an initial buying frenzy and now a pullback. Equity markets around the world would appear to be at the stage of “punch-drunk” with regards to QE. Should equities start to pull back, this should provide USD strength.\r\n\r\nFor the above reasons, I think that it is rather premature to write off the USD. For sure we have stopped in the area of the 23.6% retracement and we are consolidating around the 95.00 level.\r\n\r\nIt would take a brave man with testicles the size of footballs (European style) to shout from the roof tops that the USD is toast. It would also take a brave man to say that the USD is about to bounce back and try a run back to 100.00. Just for the record, my testicles are of normal size and fully functional.\r\n\r\nWhen I first started trading I recall my training and one of my trainers telling me “Never fight the FED”. This is a great statement and one that I have never forgotten.\r\n\r\nWhilst I do believe we are at a crossroads with the USD, I also think that it is too early to write off the USD. If you do - it is a RISK.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong>&nbsp;</li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of www.weeklyfxdrivethru.com</li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n(Right now there is a special promotion available on the 12 month GOLD subscription. Buy one year get one additional included FREE subject to opening an broker account with one of my preferred brokers. Details on my website  www.weeklyfxdrivethru.com  on the landing page under the PROMOTIONS tab)\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at www.weeklyfxdrivethru.com</li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:\r\n</u>From time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></span></p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 301 trades cost to trade = $30.10\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$383.90</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 301 trades cost to trade = $301.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$3,839.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 301 trades cost to trade = $3,010.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$38,390.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above PREMIUM SERVICE performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of differing sizes, from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\"><img class=\"aligncenter size-full wp-image-5880\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\" alt=\"PROFIT-LOSS RATIO 30042015\" width=\"416\" height=\"592\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\"><img class=\"aligncenter size-full wp-image-5881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\" alt=\"RISK-REWARD 30042015\" width=\"433\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\"><img class=\"aligncenter size-full wp-image-5878\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\" alt=\"PREM SERV PROFITS1 30042015\" width=\"463\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\"><img class=\"aligncenter size-full wp-image-5879\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\" alt=\"PREM SERV PROFITS2 30042015\" width=\"463\" height=\"439\" /></a>\r\n\r\n<u>3.2.5 – PREMIUM SERVICE 2014 – 2015 PIP COMPARISON</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\"><img class=\"aligncenter size-full wp-image-5890\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\" alt=\"PIP COMPARISON 2014-2015 30042015\" width=\"619\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nAUD news is almost daily, there is also major NZD news this week, but the highlights will be the U.S. employment data.\r\n\r\nAdd to the economic data, the GREECE news and the UK General Election and it has the makings of a big week.\r\n\r\nPlus… we also have a potential move back towards 100.00 in the DXY. I am not yet convinced about this yet, but we have the potential to move.\r\n\r\nThe bottom line is however, be careful and do not get too carried away. It is always safer when high-beta news is hovering to establish smaller positions with wider stop losses in position\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 3rd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any.','IS IT TOO EARLY TO WRITE OFF THE USD?','','inherit','open','closed','','5917-revision-v1','','','2015-05-03 04:14:18','2015-05-03 09:14:18','',5917,'https://weeklyfxdrivethru.com/5917-revision-v1/',0,'revision','',0),(5920,1,'2015-05-03 04:14:32','2015-05-03 09:14:32','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 03.05.2015\r\nREFERENCE: #151\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nWhat a hell of a ride last week was.\r\n\r\nWhen I was involved in Sales Training, courses contained sections on what is the typical profile of a sales person. The typical profile of sales person would show that this person is emotionally driven and that salespeople feel and experience highs and lows on a very frequent basis. Depending upon the type of sales process, it can range from an extreme high to an extreme low in an hour! I felt like that last week. I try not to get emotional but it is very, very difficult at times not to go bananas, in response to a move that was unexpected and not explainable. Last week I was that person.\r\n\r\n<u>FOMC RATE STATEMENT:</u>\r\n\r\nOn Wednesday last week, the FOMC released a much-anticipated update on how the FED views matters from an economic viewpoint. This was the day after an absolutely poor GDP print.\r\n\r\nThe U.S. data despite the U.S. gun-ho approach on all things USA (we are bigger and we are better and because we have booming voices we are correct so listen) has been weak of late. Let’s be honest here. The consumer is NOT buying and without consumer spending, I could not give a rats hairy a** about any data that is produced. If there is no spending, there is no growth no matter how loud your voices are.\r\n\r\nIs it any wonder the FOMC are scared to increase rates, they have to because they said that they would, but I would say that Janet Yellen is not a happy bunny in the mornings when she pours out her cornflakes.\r\n\r\nThe FOMC statement was viewed as HAWKISH. Jesus, Mary and Joseph how and why? Basically, to cut a long story short, they did NOT rule out a June rate hike. Go figure. As far as I can see the FOMC / FED have been fairly consistent with comments if you ignore the underlings and concentrate on the decision makers. Nothing has materially changed. Yet the children on Wall Street that need their diapers changing as they have no control of anything unless the FED gives them a backstop from where to trade from, have repeatedly read FOMC statements DOVISH or HAWKISH on basically the same vocabulary. Is it any wonder these markets can drive you drink?\r\n\r\n<u>RBNZ RATE STATEMENT:</u>\r\n\r\nSo my buddy Graeme Wheeler (Governor of the RBNZ) released the latest statement on all things New Zealand. Prior to the statement his sidekick, deputy governor English, had announced that things were in a bit of a fix and the RBNZ were no longer on a policy of increasing rates.\r\n\r\nSince last Wednesday, the NZD has been under pressure heading lower. Basically, nothing new came out of the statement. Even when the NZD/USD was heading to 0.8000 the RBNZ had been saying it was overvalued. Other geopolitical events have made the RBNZ fall in line, otherwise they would be screwed. They have to enter the currency war regardless. Do not forget John Key, the NZ Prime Minister, has already said that he sees the NZD/USD trading at 0.6500.\r\n\r\nThe PREMIUM SERVICE is currently short the NZD/USD and, next week I am looking to provide subscribers with trade set-ups to enter long on the commodity cross-rates that affect the NZD currency.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nIt looks like Varoufakis is being sidelined from negotiations. Being honest, there are so many damn deadlines and cash requirements to meet these deadlines that come and go that I do not know what to believe.\r\n\r\nWhen a deal is made, or a default happens, that is when to get excited. For now, I think about it when I am trading, but for the moment it is not at the front of my mind.\r\n\r\nIn my opinion, the CONTAGION looms and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This is the equivalent of a west-end farce played out in front of the world’s media and does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nI still believe that this is going to eventually end in tears.\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nThis is still ongoing, however, it is now page 7 news and not hitting the front pages anymore.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nIt should all kick-off next week. The 7<sup>th</sup> May is the UK election date. The GBP/USD started to implode late Thursday into Friday last week and I think that more of the same will happen.\r\n\r\nA trader friend of my last weekend asked me did I see the GBP/USD at 1.6000 prior to the election. I answered by saying that I thought a small spike might be seen from the price of 1.5200 at that time to about 1.5300. We went to 1.5500 before turning back lower towards 1.5100. I said that I felt that all the pressure would be to the downside. 1.5500 was a shock to me. But, last week there were some crazy moves across many pairs.\r\n\r\nEd Miliband (Labour Party Leader) may have shot himself in the foot by ruling out a coalition with the Scottish Nationalist Party (SNP) if there was a minority government and his party was the biggest and given first go at forming a government.\r\n\r\nThis has created even more uncertainty. Next week this will be a fascinating story to watch unfold, I will be glued overnight to BBC World News in Canada watching.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: AUD – Trade Balance.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\nTUESDAY: NZD – Dairy Auction Prices\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: GBP – General Elections.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change.\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nAt long last after a week of extreme moves we are now moving more freely and instead of being range bound we are now exposing bullish and bearish patterns / chart set-ups and potentially some bigger moves on the horizon.\r\n\r\nDo not get carried away yet. I think that next week providing that we do not see a GREECE settlement we should see (except for GBP related pairs) a consolidation of Friday’s moves before the decision is the USD (DXY) going higher or lower.\r\n\r\nIf the currency wars are to be believed; the USD (DXY) should be heading back towards 100.00 eventually. The pleasing thing about Friday’s move in currencies was that across the board it was a USD move.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT TOO EARLY TO WRITE OFF THE USD?</strong></p>\r\nWithout doubt, this has been a strange year trading Forex.\r\n\r\nSo far we have accommodated: -\r\n<ul>\r\n	<li>Thomas Jordan (SNB Governor) having his day in the sun by removing the EUR/CHF peg and allowing the CHF to free float.</li>\r\n	<li>Janet Yellen has been struggling with language in the FOMC statements over the FED rate hike that she has committed to in 2015. She has been, meeting by meeting, trying to keep the markets as stable as possible, by updating language definitions in FED policy statements.</li>\r\n	<li>The BOJ has been dithering over more Quantitative Easing (QE) or not?</li>\r\n	<li>The ECB has introduced Quantitative Easing (QE) and looks to have accommodative / supportive policies in place for at least another 12-18 months.</li>\r\n	<li>The price of OIL tanked lower (sorry about that pun).</li>\r\n	<li>GOLD has been spiking up then spiking down. In a world of zero inflation why the yellow metal is not sitting at $700 really does surprise me.</li>\r\n	<li>Central Banks have intensified the “Race to the bottom”… currency wars are alive and well and fully functional. The FED and possibly the BOE are the HAWKS, with the BOJ, ECB, RBA, BOC and SNB the DOVES, with the RBNZ now joining the DOVES as well.</li>\r\n	<li>We have had so many short squeezes this year I have lost count. The squeezes are persistent and in two or three stages, relentless and 100% efficient at wiping out longs and shorts from the market.</li>\r\n</ul>\r\nIs it any wonder that there has been what is often called a flight to safety with traders / institutions / corporate funds / pensions buying the USD?\r\n\r\nOn the USD dollar index (DXY) Monthly chart below, you can see the USD move higher in recent months. It was powerful and unrelenting. The target of 100.00 was too much for the markets not to miss. It should come as no surprise to any trader that after such a move higher that once the triple digit target of 100.00 was achieved that the index would pullback.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015.png\"><img class=\"aligncenter size-large wp-image-5910\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-MONTHLY-CHART-03052015-1024x534.png\" alt=\"DXY MONTHLY CHART 03052015\" width=\"1024\" height=\"534\" /></a>\r\n\r\nWe have pulled back to about a 23.6% Fibonacci level around 95.00. This is shallow and if we hold here and return higher the move will be more powerful than the original move higher, and, in my opinion it will not just touch 100.00 and reverse it will go much higher.\r\n\r\nI have read so many articles saying that the USD is doomed and that no one wants to hold USD; what a complete load of crap. The USD is the flight to safety currency, not the JPY, CHF and certainly not the EUR.\r\n\r\nLooking ahead, we still have an OIL glut. The laws of “supply and demand” will have to apply soon. This is basic stuff. As we all know the OIL market is the most speculative market dominated by Hedge funds and millionaires looking for a quick buck based on high risk. OIL will return lower towards $40 again, sooner than we think. Even with increased demand for summer, the supply still exceeds demand. It cannot last for much longer.\r\n\r\nI have already mentioned GOLD. No inflation, the pressure has to be to the downside.\r\n\r\nPlus, we have Central Bank divergence, almost across the board. The FED and possibly the BOE line up opposite the remaining Central Banks, when it comes to Central bank monetary policy. This has to count for something dramatic moving forward in a zero inflation environment.\r\n\r\nFinally, are we seeing the equity markets pushing extremes? I believe we are finally at a turning point. Valuations are crazy and money poured into European bourses as soon as the ECB announced QE. We saw an initial buying frenzy and now a pullback. Equity markets around the world would appear to be at the stage of “punch-drunk” with regards to QE. Should equities start to pull back, this should provide USD strength.\r\n\r\nFor the above reasons, I think that it is rather premature to write off the USD. For sure we have stopped in the area of the 23.6% retracement and we are consolidating around the 95.00 level.\r\n\r\nIt would take a brave man with testicles the size of footballs (European style) to shout from the roof tops that the USD is toast. It would also take a brave man to say that the USD is about to bounce back and try a run back to 100.00. Just for the record, my testicles are of normal size and fully functional.\r\n\r\nWhen I first started trading I recall my training and one of my trainers telling me “Never fight the FED”. This is a great statement and one that I have never forgotten.\r\n\r\nWhilst I do believe we are at a crossroads with the USD, I also think that it is too early to write off the USD. If you do - it is a RISK.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of www.weeklyfxdrivethru.com</li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n(Right now there is a special promotion available on the 12 month GOLD subscription. Buy one year get one additional included FREE subject to opening an broker account with one of my preferred brokers. Details on my website  www.weeklyfxdrivethru.com  on the landing page under the PROMOTIONS tab)\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at www.weeklyfxdrivethru.com</li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:\r\n</u>From time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></span></p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 301 trades cost to trade = $30.10\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$383.90</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 301 trades cost to trade = $301.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$3,839.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 301 trades cost to trade = $3,010.00\r\n<strong>PROFIT</strong> from 301 trades = <strong><u>$38,390.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above PREMIUM SERVICE performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of differing sizes, from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\"><img class=\"aligncenter size-full wp-image-5880\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-30042015.png\" alt=\"PROFIT-LOSS RATIO 30042015\" width=\"416\" height=\"592\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\"><img class=\"aligncenter size-full wp-image-5881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-30042015.png\" alt=\"RISK-REWARD 30042015\" width=\"433\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\"><img class=\"aligncenter size-full wp-image-5878\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-30042015.png\" alt=\"PREM SERV PROFITS1 30042015\" width=\"463\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\"><img class=\"aligncenter size-full wp-image-5879\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS2-30042015.png\" alt=\"PREM SERV PROFITS2 30042015\" width=\"463\" height=\"439\" /></a>\r\n\r\n<u>3.2.5 – PREMIUM SERVICE 2014 – 2015 PIP COMPARISON</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\"><img class=\"aligncenter size-full wp-image-5890\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PIP-COMPARISON-2014-2015-30042015.png\" alt=\"PIP COMPARISON 2014-2015 30042015\" width=\"619\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nAUD news is almost daily, there is also major NZD news this week, but the highlights will be the U.S. employment data.\r\n\r\nAdd to the economic data, the GREECE news and the UK General Election and it has the makings of a big week.\r\n\r\nPlus… we also have a potential move back towards 100.00 in the DXY. I am not yet convinced about this yet, but we have the potential to move.\r\n\r\nThe bottom line is however, be careful and do not get too carried away. It is always safer when high-beta news is hovering to establish smaller positions with wider stop losses in position\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 3rd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any.','IS IT TOO EARLY TO WRITE OFF THE USD?','','inherit','open','closed','','5917-revision-v1','','','2015-05-03 04:14:32','2015-05-03 09:14:32','',5917,'https://weeklyfxdrivethru.com/5917-revision-v1/',0,'revision','',0),(5955,1,'2015-05-08 21:16:05','2015-05-09 02:16:05','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 10.05.2015\r\nREFERENCE: #59\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n&nbsp;\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nI wrote last week about the USD index, and question is it too early to write off the USD.\r\n\r\nIn my opinion the jury is still out, however, I am starting to “wobble a little” on the DXY. It really needs to show its teeth prior to the FED hiking U.S. interest rates, which could now be in September / October.\r\n\r\nWe had a very interesting week in the Forex market last week, but in my opinion two events stood out from the rest.\r\n\r\n<u>RBA RATE STATEMENT:</u>\r\n\r\nIn the wee hours of Tuesday morning (EDT) last week, the RBA cut interest rates by 0.25% to record lows for Australia. To celebrate this fact, those bloody Aussies sent the AUD/USD higher instead of lower on the back of the rate cut. This directional anomaly was based on the fact that Glenn Stevens basically stated that after this rate cut the RBA was moving policy to neutral…”no more cuts”… bugger.\r\n\r\nThe AUD/USD rallied to 0.8000, I am still trying to work out when I got up the next morning why I didn’t short it from those highs. In any event another central bank has stated “no more” with regards to further interest rate cuts. As the Irish would say, with their well known double negative statement…. “Yeah right!” and with my Liverpool sense of humour, I would add “Yeah right my ar*e!”.\r\n\r\nWe are in a currency war. Central Bank governors want their exchange rates lower to remain competitive; they know that they just cannot achieve their target exchange rates by jawboning alone. Rate cuts will continue to feature.\r\n\r\nIn my opinion the commodity based countries in general not just Australia have it the hardest when there is little worldwide consumer demand. It is all very well having low inflation, but growth is required, and, many countries face potential housing bubbles just to make matters more interesting, so cutting rates can fuel the housing bubbles. It is a fine line. Is a housing bubble a risk worth taking? We will soon find out.\r\n\r\n<u>UK GENERAL ELECTION:</u>\r\n\r\nWow.\r\n\r\nI got it completely wrong; in fact, I have not seen a single review of the expected result that said that the Conservatives would win with an overall majority.\r\n\r\nThe BBC and SKY NEWS exit polls were released at the daily open/close cross-over at 5.00PM (EDT) last Thursday. I was stuffed with my GBP/JPY and GBP/USD shorts that were open at the time. I had a number of SELL STOP orders in position as well, which I cancelled straight away as I absorbed the news.\r\n\r\nIt has been a long, long time since I can recall so many opinion polls running up to voting day that were in almost complete agreement as to the outcome. They all got it not just slightly wrong but completely ass-ways in comparison to the exit polls that were conducted earlier on voting day.\r\n\r\nI would say that at a lot of people lost money at 5.00PM but made it back in the following 5/6 hours until the GBP/USD hit its limit at 1.5520. This, I suppose is what makes Forex Trading so exciting and annoying at the same time. My whole train of thought was buying the GBP/USD on a dip towards 1.4850. A move to 1.5500 never entered my head.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n\r\n<u>GREECE:</u>\r\n\r\nI do not want to sound like a broken record but…….. It’s still going….\r\n\r\nAllegedly, Varoufakis is claiming that an agreement with its creditors is due almost daily. Not wanting to repeat myself but “Yeah right my ar*e”.\r\n\r\nHe has to say this to keep the markets as calm as possible, now he could be telling the truth, but “Yeah right, my ar*e”. Am I too cynical?\r\n\r\nI still think that the only way for GREECE to move forward and get this f**king monkey off its back is to declare itself bankrupt and default. That should bring in some volatility.\r\n\r\nI bet even now in 2015 we still have not got 100% transparency on what countries and banks are in for a hiding should GREECE default. I have seen the official list and I published this in this blog a few weeks ago.\r\n\r\nFrankly, I do not believe a damn thing anymore. GREECE was supposed to be out of cash weeks ago and could not pay any bills at all, yet here we are today still writing about it.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: AUD – NAB Business Confidence.\r\n\r\nMONDAY: GBP – BOE Bank Rate.\r\n\r\nTUESDAY: AUD – Annual Government Budget Release.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\nTUESDAY: NZD – Graeme Wheeler speaks.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – BOE Inflation Report.\r\nWEDNESDAY: GBP – BOE Mark Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales and Retail Sales.\r\n\r\nTHURSDAY: N/A.\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nThe equity markets seem to be extremes and this causes “freaky” moves from time to time in the currency markets. These moves that we sometime see that make little sense at the time are sparked off many times by pure trivia.\r\n\r\nAt the moment we have OIL at the crossroads; does it move lower or higher next. Does supply and demand really matter in that market? I am sure that, that question is being asked many, many times.\r\n\r\nWe also have the GREECE situation, which, the longer it goes on unresolved means that the crisis looms closer and closer.\r\n\r\nBoth OIL and GREECE cause rapid-fire movements in the USD and this exacerbates throughout. There is absolutely nothing that we can do except be conscious of these issues. But, frankly, what can we do?\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>WHY IS THE FX MARKET GIVING MIXED SIGNALS?</strong></p>\r\nI wrote last week about how the Forex Market has thrown many curve balls at us traders this year, and, it got me thinking.\r\n\r\nOne piece of data that I provide to the PREMIUM SERVICE subscribers in their version of this blog each week looks at Forex TRENDING with the same 27 Forex Trading pairs reviewed each week.\r\n\r\nBasically, I provide an excel spread sheet detailing which of the 27 pairs have the longer term interval charts (DAILY, WEEKLY and MONTHLY) all moving in the same direction, whether is be long or short.\r\n\r\nI recall at one stage in my trading development that I would only trade in the direction of the longer-term trends and if all three charts did not line up in the same direction, I would not take the trade. This became criteria for trading in one of my earlier TRADING PLANS.\r\n\r\nOf late, I have removed this feature from my TRADING PLAN, but everyday I refer to what I call my DIRECTIONALS. I believe that it gives me an edge, more confidence in placing a trade knowing that the trend is behind me.\r\n\r\nSeven years or so ago, when I first started trading, there were huge consistencies amongst the pairs;\r\n\r\ne.g.\r\n\r\nThe AUD/CAD, EUR/CAD, GBP/CAD and USD/CAD would all be trading in the same direction. If one pair was bearish they were all bearish. Most of the time this is still true today but of late this has altered.\r\n\r\nOften times the USD/CAD can be long sided trend and the EUR/AUD and GBP/AUD be a short-sided trade. When you consider this has to take into consideration the fact that we are looking for all three charts to line up in the same direction. The fact that one set can be so diverse poses some questions.\r\n\r\nBelow, I show the excel sheets that are saved from THE WEEKLY FX DRIVE THRU (PREMIUM SERVICE VERSION) blogs from previous weeks were currency pairs trending long or short for the three longer time framed charts are listed.\r\n\r\n5<sup>th</sup>, 12<sup>th</sup>, 19<sup>th</sup>, 26<sup>th</sup> April plus 3<sup>rd</sup> and 10<sup>th</sup> May 2015. The last six weeks of charts.\r\n\r\nOut of 27 pairs the charts tell you how many pairs are trending. If a currency pair is not there then it had mixed signals.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\"><img class=\"aligncenter size-full wp-image-5922\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\" alt=\"ART2 05042015\" width=\"391\" height=\"388\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\"><img class=\"aligncenter size-full wp-image-5923\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\" alt=\"ART2 12042015\" width=\"394\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\"><img class=\"aligncenter size-full wp-image-5924\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\" alt=\"ART2 19042015\" width=\"399\" height=\"342\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\"><img class=\"aligncenter size-full wp-image-5925\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\" alt=\"ART2 26042015\" width=\"399\" height=\"356\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\"><img class=\"aligncenter size-full wp-image-5926\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\" alt=\"ART2 03052015\" width=\"395\" height=\"378\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\"><img class=\"aligncenter size-full wp-image-5927\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\" alt=\"ART2 10052015\" width=\"387\" height=\"340\" /></a>\r\n\r\nBack in 2007-8, it was a consistent 50% -75% each and every week. Of late you can see that we are under 40% each week.\r\n\r\nFrom my perspective, this shows as well as the obvious lack of trend and direction within a currency pair, but also the fact the raised levels of volatility and swift moves are being reflected in these longer-term charts.\r\n\r\nWhat does it mean?\r\n\r\nDoes it affect our trading behavior?\r\n\r\nWell, it means as I have already eluded to that we have an issue of lack of directional trading, and the “trend is your friend” really does not come into play when placing a trade.\r\n\r\nTrading psychology in my opinion is huge, and it is often forgotten about as we plough through our daily routines. Sub consciously however; our minds are being messed with. I am not saying that my mind casts its way back to my latest excel spreadsheet but it must resonate somewhere as I have these charts displayed on one of my monitors.\r\n\r\nWhat I am saying is that the more pairs that display mixed trends the more volatility there is for us as traders to content with. Plus the more divergences there are within a given set of matching currency related pairs the more difficult it is to trade.\r\n\r\nRecently we have seen EUR/USD and GBP/USD moving lower with USD strength but the commodity currencies AUD/USD and NZD/USD moving higher in the opposite direction. We have both dollar strength pairs and dollar weakness pairs all within the USD majors.\r\n\r\nIn this instance how does the commodity cross-rates behave? Sometimes these can be great to trade believe it or not, look below: -\r\n\r\nGBP/USD acting with USD strength - GBP selling and USD buying.\r\nAUD/USD acting with USD weakness – AUD buying and USD selling.\r\n\r\nGBP/AUD would be a great short given 100% harmony with the above, ultimate powerful moves.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD acting with USD weakness – USD selling and CAD buying,\r\n\r\nAUD/CAD – this is now mixed from GBP/AUD. Because both commodity currencies are being bought in exchange for the USD.\r\n\r\nThis divergence can affect the moves in other cross-rates and what could be a great potential trade turns out to be one of frustration and annoying.\r\n\r\nI have written in the past about divergences and correlations, most of the time these articles are contained within the EDUCATION TAB inside my subscriber website.\r\n\r\nSo why are we getting mixed signals.\r\n\r\nSimply; FEAR, GREED and UNCERTAINTY in the markets. I can elaborate at great length but it all falls back to these three words.\r\n\r\nEquity markets are at extremes. Central Banks are providing so much liquidity that company valuations based on the relationship to its stock price are over-valued or very close to. Equities are the only place in a zero interest rate environment to see a return. We have been in one-sided markets for so long.\r\n\r\nThe retail buyer is in hiding; companies are heavily buying its own stock to improve its EPS but at the same time there are no sales for the top line income on the balance sheet, and, as a result, is under-performing. Consumer Confidence, Manufacturing PMI data is very mixed, some would say weak at best, and, this feeds FEAR, GREED and UNCERTAINTY.\r\n\r\nThus: - we have mixed messages and mixed signals in the FX market.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n\r\n&nbsp;\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nFrom time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 326 trades cost to trade = $32.60\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$397.60</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 326 trades cost to trade = $326.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$3,976.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 326 trades cost to trade = $3,260.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$39,760.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\"><img class=\"aligncenter size-full wp-image-5928\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\" alt=\"PREM SERV PROFITS1 10052015\" width=\"461\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\"><img class=\"aligncenter size-full wp-image-5929\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\" alt=\"REM SERV PROFITS2 10052015\" width=\"467\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThere is no EDUCATION article this week.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nI hate cable.\r\n\r\nThat feels much better now having written that. Apart from the cross-rates I am now very quickly coming to the conclusion that unless in extreme conditions I am going send the GBP to Coventry. It is without doubt the most annoying currency to work with. It is clinical at wiping out longs and shorts in the market and frankly I do not think I own large enough testicles to trade this currency without being able to trade without emotion becoming a factor. I want to keep emotion one-step removed.\r\n\r\nHello JPY and bye-bye GBP seems to coming back into view.\r\n\r\nWhat a week.\r\n\r\nI was smacked by the UK Exit Polls last Thursday; it looks like having spoken with my peer group and a few of you over the past 48 hours that I was NOT alone.\r\n\r\nI came across an article by Kathy Lien from BK, who appears on CNBC quite a bit. She actually went into print last Wednesday with details of what to short etc. ahead of time and what to have set up in advance of the result, which she like everyone else believed to be a hung parliament. I would say more than a few fingers were burnt there, no doubt BK will say that they never lost a penny!\r\n\r\nApart from the UK election and NFP (why didn\'t I just sleep as planned), trading for the month of May to date has been good. I think that we just need to get GREECE out of the way and then we should get a clear run through to the summer months. I just cannot see the FOMC raising rates this side of the summer.\r\n\r\nU.S. data is just not that good. It flatters to deceive. I no longer care how booming the voice is it does make the data any better. I have said it before and I will repeat it once again. The U.S. consumer is NOT spending money and the housing market despite in a few select geographical pockets is weak. Without a booming housing market the economy does NOT grow and people do NOT have the confidence to spend money.\r\n\r\nLike many of you have written to me and commented, I want a week or two of just trending markets. I’m sorry but I just cannot see it at the moment. We are being beaten up at times by spiking equity market moves. What even happened to RISK ON and RISK OFF days?\r\n\r\nThe most important thing is that I still have my motivation to find trades everyday. It is harder this year compared to last year. But I do understand the comments and appreciate the sentiments involved regarding trend trading. If you look at section 4.6; the TRENDING PAIRS each week there are really just only a few out of 27 available pairs that I look at we only have maybe 33% each week that have DAILY, WEEKLY and MONTHLY charts moving in the same direction. When I first started trading it was nearly always 50% -66% trending. That says a huge amount about the current Forex Market conditions. That is why I wrote about this very point earlier in the blog.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-10052015.png\"><img class=\"aligncenter size-full wp-image-5933\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-10052015.png\" alt=\"PS LIVE TRADES 10052015\" width=\"722\" height=\"505\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/LIMIT-ORDERS-10052015.png\"><img class=\"aligncenter size-full wp-image-5934\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/LIMIT-ORDERS-10052015.png\" alt=\"LIMIT ORDERS 10052015\" width=\"717\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nWhilst GREECE is obviously a major concern, but, now that the UK ELECTION is over and done with plus another NFP out of the way, I am hoping that as the dust settles we will have good trading opportunities ahead.\r\n\r\nMy obvious focus is in the GBP cross-rates. I believe that the GBP is now looking for any excuse to rally and whilst the GBP/USD may be weighed down by EUR weakness and USD strength, the cross-rate effect could come into play via GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD and EUR/GBP.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-10052015.png\"><img class=\"aligncenter size-large wp-image-5954\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-10052015-1024x598.png\" alt=\"AUDCAD D 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-12HR-10052015.png\"><img class=\"aligncenter size-large wp-image-5953\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-12HR-10052015-1024x598.png\" alt=\"AUDCHF 12HR 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-12HR-10052015.png\"><img class=\"aligncenter size-large wp-image-5952\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-12HR-10052015-1024x598.png\" alt=\"CADCHF 12HR 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-W-10052015.png\"><img class=\"aligncenter size-large wp-image-5951\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-W-10052015-1024x598.png\" alt=\"GBPAUD W 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCAD-240M-10052015.png\"><img class=\"aligncenter size-large wp-image-5950\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCAD-240M-10052015-1024x598.png\" alt=\"GBPCAD 240M 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-D-10052015.png\"><img class=\"aligncenter size-large wp-image-5949\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-D-10052015-1024x598.png\" alt=\"GBPCHF D 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-W-10052015.png\"><img class=\"aligncenter size-large wp-image-5948\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-W-10052015-1024x598.png\" alt=\"GBPNZD W 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-12HR-10052015.png\"><img class=\"aligncenter size-large wp-image-5947\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-12HR-10052015-1024x598.png\" alt=\"NZDCHF 12HR 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-10052015.png\"><img class=\"aligncenter size-full wp-image-5931\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-10052015.png\" alt=\"PS TRENDING PAIRS 10052015\" width=\"387\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.1198</strong>\r\n\r\nWe closed last week just 10 pips higher than last weeks close. My comments relating to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5945\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-08052015-1024x598.png\" alt=\"EURUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.1040 with resistance is at 1.1285 then 1.1400.\r\n\r\n&nbsp;\r\n\r\n<strong>GBP/USD: Closing Price 1.5441</strong>.\r\n\r\nI was completely taken off guard with the GBP/USD following the shock election exit poll and subsequent result.\r\n\r\nMy comments for this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5944\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-08052015-1024x598.png\" alt=\"GBPUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5070 and resistance at 1.5550.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7919</strong>.\r\n\r\nThis pair is creeping higher week on week. My comments relating to this pair are contained on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5946\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-08052015-1024x598.png\" alt=\"AUDUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7790 and resistance at 0.8010, then 0.8100.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7489</strong>.\r\n\r\nI am now bearish on this pair, and whilst disappointed with its move following NFP, I still see it as a downside trade over the coming sessions. My comments related to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5943\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-08052015-1024x598.png\" alt=\"NZDUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2069.</strong>\r\n\r\nWow, the chart below looks bearish. I am looking to pick this pair up for a long side trade at much lower levels around 1.1950. If this level does not hold I fear we will see a major correction come into play.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5942\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-08052015-1024x598.png\" alt=\"USDCAD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2000, if not then 1.1935. Resistance is at 1.2150.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9277</strong>.\r\n\r\nI think that the uncertainty over GREECE is finally manifesting itself in the CHF. I am trying my best to stay clear until the GREECE situation is resolved. I do want to enter long this pair and lower levels suit me better. I will have to wait and see.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5941\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-08052015-1024x598.png\" alt=\"USDCHF W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\nSupport is at 0.9120 and resistance at 0.9350.\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 119.61. </strong>\r\n\r\nStill range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5940\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-08052015-1024x598.png\" alt=\"USDJPY W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nThe highlights for me being; Carney’s BOE Inflation Report, Wheelers fireside chat about all things RBNZ and USD Retail Sales. With the review of the U.S. data on TV, I just love it when the American pundits are so bullish when data is pure and simple crap. They believe if they talk louder it somehow makes the data improve. I just love it.\r\n\r\nAdded to the above economic data there is always GREECE news to keep us interested. Apparently, May 11<sup>th</sup> and May 12<sup>th</sup> are now the key dates. “Yeah right, my ar*e”.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 10th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','WHY IS THE FX MARKET GIVING MIXED SIGNALS?','','publish','open','closed','','why-is-the-fx-market-giving-mixed-signals','','','2015-05-08 21:16:05','2015-05-09 02:16:05','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5955',0,'member_posts','',0),(5956,1,'2015-05-08 21:14:44','2015-05-09 02:14:44','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 10.05.2015\r\nREFERENCE: #59\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n&nbsp;\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nI wrote last week about the USD index, and question is it too early to write off the USD.\r\n\r\nIn my opinion the jury is still out, however, I am starting to “wobble a little” on the DXY. It really needs to show its teeth prior to the FED hiking U.S. interest rates, which could now be in September / October.\r\n\r\nWe had a very interesting week in the Forex market last week, but in my opinion two events stood out from the rest.\r\n\r\n<u>RBA RATE STATEMENT:</u>\r\n\r\nIn the wee hours of Tuesday morning (EDT) last week, the RBA cut interest rates by 0.25% to record lows for Australia. To celebrate this fact, those bloody Aussies sent the AUD/USD higher instead of lower on the back of the rate cut. This directional anomaly was based on the fact that Glenn Stevens basically stated that after this rate cut the RBA was moving policy to neutral…”no more cuts”… bugger.\r\n\r\nThe AUD/USD rallied to 0.8000, I am still trying to work out when I got up the next morning why I didn’t short it from those highs. In any event another central bank has stated “no more” with regards to further interest rate cuts. As the Irish would say, with their well known double negative statement…. “Yeah right!” and with my Liverpool sense of humour, I would add “Yeah right my ar*e!”.\r\n\r\nWe are in a currency war. Central Bank governors want their exchange rates lower to remain competitive; they know that they just cannot achieve their target exchange rates by jawboning alone. Rate cuts will continue to feature.\r\n\r\nIn my opinion the commodity based countries in general not just Australia have it the hardest when there is little worldwide consumer demand. It is all very well having low inflation, but growth is required, and, many countries face potential housing bubbles just to make matters more interesting, so cutting rates can fuel the housing bubbles. It is a fine line. Is a housing bubble a risk worth taking? We will soon find out.\r\n\r\n<u>UK GENERAL ELECTION:</u>\r\n\r\nWow.\r\n\r\nI got it completely wrong; in fact, I have not seen a single review of the expected result that said that the Conservatives would win with an overall majority.\r\n\r\nThe BBC and SKY NEWS exit polls were released at the daily open/close cross-over at 5.00PM (EDT) last Thursday. I was stuffed with my GBP/JPY and GBP/USD shorts that were open at the time. I had a number of SELL STOP orders in position as well, which I cancelled straight away as I absorbed the news.\r\n\r\nIt has been a long, long time since I can recall so many opinion polls running up to voting day that were in almost complete agreement as to the outcome. They all got it not just slightly wrong but completely ass-ways in comparison to the exit polls that were conducted earlier on voting day.\r\n\r\nI would say that at a lot of people lost money at 5.00PM but made it back in the following 5/6 hours until the GBP/USD hit its limit at 1.5520. This, I suppose is what makes Forex Trading so exciting and annoying at the same time. My whole train of thought was buying the GBP/USD on a dip towards 1.4850. A move to 1.5500 never entered my head.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n\r\n<u>GREECE:</u>\r\n\r\nI do not want to sound like a broken record but…….. It’s still going….\r\n\r\nAllegedly, Varoufakis is claiming that an agreement with its creditors is due almost daily. Not wanting to repeat myself but “Yeah right my ar*e”.\r\n\r\nHe has to say this to keep the markets as calm as possible, now he could be telling the truth, but “Yeah right, my ar*e”. Am I too cynical?\r\n\r\nI still think that the only way for GREECE to move forward and get this f**king monkey off its back is to declare itself bankrupt and default. That should bring in some volatility.\r\n\r\nI bet even now in 2015 we still have not got 100% transparency on what countries and banks are in for a hiding should GREECE default. I have seen the official list and I published this in this blog a few weeks ago.\r\n\r\nFrankly, I do not believe a damn thing anymore. GREECE was supposed to be out of cash weeks ago and could not pay any bills at all, yet here we are today still writing about it.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: AUD – NAB Business Confidence.\r\n\r\nMONDAY: GBP – BOE Bank Rate.\r\n\r\nTUESDAY: AUD – Annual Government Budget Release.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\nTUESDAY: NZD – Graeme Wheeler speaks.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – BOE Inflation Report.\r\nWEDNESDAY: GBP – BOE Mark Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales and Retail Sales.\r\n\r\nTHURSDAY: N/A.\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nThe equity markets seem to be extremes and this causes “freaky” moves from time to time in the currency markets. These moves that we sometime see that make little sense at the time are sparked off many times by pure trivia.\r\n\r\nAt the moment we have OIL at the crossroads; does it move lower or higher next. Does supply and demand really matter in that market? I am sure that, that question is being asked many, many times.\r\n\r\nWe also have the GREECE situation, which, the longer it goes on unresolved means that the crisis looms closer and closer.\r\n\r\nBoth OIL and GREECE cause rapid-fire movements in the USD and this exacerbates throughout. There is absolutely nothing that we can do except be conscious of these issues. But, frankly, what can we do?\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>WHY IS THE FX MARKET GIVING MIXED SIGNALS?</strong></p>\r\nI wrote last week about how the Forex Market has thrown many curve balls at us traders this year, and, it got me thinking.\r\n\r\nOne piece of data that I provide to the PREMIUM SERVICE subscribers in their version of this blog each week looks at Forex TRENDING with the same 27 Forex Trading pairs reviewed each week.\r\n\r\nBasically, I provide an excel spread sheet detailing which of the 27 pairs have the longer term interval charts (DAILY, WEEKLY and MONTHLY) all moving in the same direction, whether is be long or short.\r\n\r\nI recall at one stage in my trading development that I would only trade in the direction of the longer-term trends and if all three charts did not line up in the same direction, I would not take the trade. This became criteria for trading in one of my earlier TRADING PLANS.\r\n\r\nOf late, I have removed this feature from my TRADING PLAN, but everyday I refer to what I call my DIRECTIONALS. I believe that it gives me an edge, more confidence in placing a trade knowing that the trend is behind me.\r\n\r\nSeven years or so ago, when I first started trading, there were huge consistencies amongst the pairs;\r\n\r\ne.g.\r\n\r\nThe AUD/CAD, EUR/CAD, GBP/CAD and USD/CAD would all be trading in the same direction. If one pair was bearish they were all bearish. Most of the time this is still true today but of late this has altered.\r\n\r\nOften times the USD/CAD can be long sided trend and the EUR/AUD and GBP/AUD be a short-sided trade. When you consider this has to take into consideration the fact that we are looking for all three charts to line up in the same direction. The fact that one set can be so diverse poses some questions.\r\n\r\nBelow, I show the excel sheets that are saved from THE WEEKLY FX DRIVE THRU (PREMIUM SERVICE VERSION) blogs from previous weeks were currency pairs trending long or short for the three longer time framed charts are listed.\r\n\r\n5<sup>th</sup>, 12<sup>th</sup>, 19<sup>th</sup>, 26<sup>th</sup> April plus 3<sup>rd</sup> and 10<sup>th</sup> May 2015. The last six weeks of charts.\r\n\r\nOut of 27 pairs the charts tell you how many pairs are trending. If a currency pair is not there then it had mixed signals.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\"><img class=\"aligncenter size-full wp-image-5922\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\" alt=\"ART2 05042015\" width=\"391\" height=\"388\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\"><img class=\"aligncenter size-full wp-image-5923\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\" alt=\"ART2 12042015\" width=\"394\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\"><img class=\"aligncenter size-full wp-image-5924\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\" alt=\"ART2 19042015\" width=\"399\" height=\"342\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\"><img class=\"aligncenter size-full wp-image-5925\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\" alt=\"ART2 26042015\" width=\"399\" height=\"356\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\"><img class=\"aligncenter size-full wp-image-5926\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\" alt=\"ART2 03052015\" width=\"395\" height=\"378\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\"><img class=\"aligncenter size-full wp-image-5927\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\" alt=\"ART2 10052015\" width=\"387\" height=\"340\" /></a>\r\n\r\nBack in 2007-8, it was a consistent 50% -75% each and every week. Of late you can see that we are under 40% each week.\r\n\r\nFrom my perspective, this shows as well as the obvious lack of trend and direction within a currency pair, but also the fact the raised levels of volatility and swift moves are being reflected in these longer-term charts.\r\n\r\nWhat does it mean?\r\n\r\nDoes it affect our trading behavior?\r\n\r\nWell, it means as I have already eluded to that we have an issue of lack of directional trading, and the “trend is your friend” really does not come into play when placing a trade.\r\n\r\nTrading psychology in my opinion is huge, and it is often forgotten about as we plough through our daily routines. Sub consciously however; our minds are being messed with. I am not saying that my mind casts its way back to my latest excel spreadsheet but it must resonate somewhere as I have these charts displayed on one of my monitors.\r\n\r\nWhat I am saying is that the more pairs that display mixed trends the more volatility there is for us as traders to content with. Plus the more divergences there are within a given set of matching currency related pairs the more difficult it is to trade.\r\n\r\nRecently we have seen EUR/USD and GBP/USD moving lower with USD strength but the commodity currencies AUD/USD and NZD/USD moving higher in the opposite direction. We have both dollar strength pairs and dollar weakness pairs all within the USD majors.\r\n\r\nIn this instance how does the commodity cross-rates behave? Sometimes these can be great to trade believe it or not, look below: -\r\n\r\nGBP/USD acting with USD strength - GBP selling and USD buying.\r\nAUD/USD acting with USD weakness – AUD buying and USD selling.\r\n\r\nGBP/AUD would be a great short given 100% harmony with the above, ultimate powerful moves.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD acting with USD weakness – USD selling and CAD buying,\r\n\r\nAUD/CAD – this is now mixed from GBP/AUD. Because both commodity currencies are being bought in exchange for the USD.\r\n\r\nThis divergence can affect the moves in other cross-rates and what could be a great potential trade turns out to be one of frustration and annoying.\r\n\r\nI have written in the past about divergences and correlations, most of the time these articles are contained within the EDUCATION TAB inside my subscriber website.\r\n\r\nSo why are we getting mixed signals.\r\n\r\nSimply; FEAR, GREED and UNCERTAINTY in the markets. I can elaborate at great length but it all falls back to these three words.\r\n\r\nEquity markets are at extremes. Central Banks are providing so much liquidity that company valuations based on the relationship to its stock price are over-valued or very close to. Equities are the only place in a zero interest rate environment to see a return. We have been in one-sided markets for so long.\r\n\r\nThe retail buyer is in hiding; companies are heavily buying its own stock to improve its EPS but at the same time there are no sales for the top line income on the balance sheet, and, as a result, is under-performing. Consumer Confidence, Manufacturing PMI data is very mixed, some would say weak at best, and, this feeds FEAR, GREED and UNCERTAINTY.\r\n\r\nThus: - we have mixed messages and mixed signals in the FX market.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong>&nbsp;</li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n\r\n&nbsp;\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nFrom time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 326 trades cost to trade = $32.60\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$397.60</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 326 trades cost to trade = $326.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$3,976.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 326 trades cost to trade = $3,260.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$39,760.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\"><img class=\"aligncenter size-full wp-image-5928\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\" alt=\"PREM SERV PROFITS1 10052015\" width=\"461\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\"><img class=\"aligncenter size-full wp-image-5929\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\" alt=\"REM SERV PROFITS2 10052015\" width=\"467\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThere is no EDUCATION article this week.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nI hate cable.\r\n\r\nThat feels much better now having written that. Apart from the cross-rates I am now very quickly coming to the conclusion that unless in extreme conditions I am going send the GBP to Coventry. It is without doubt the most annoying currency to work with. It is clinical at wiping out longs and shorts in the market and frankly I do not think I own large enough testicles to trade this currency without being able to trade without emotion becoming a factor. I want to keep emotion one-step removed.\r\n\r\nHello JPY and bye-bye GBP seems to coming back into view.\r\n\r\nWhat a week.\r\n\r\nI was smacked by the UK Exit Polls last Thursday; it looks like having spoken with my peer group and a few of you over the past 48 hours that I was NOT alone.\r\n\r\nI came across an article by Kathy Lien from BK, who appears on CNBC quite a bit. She actually went into print last Wednesday with details of what to short etc. ahead of time and what to have set up in advance of the result, which she like everyone else believed to be a hung parliament. I would say more than a few fingers were burnt there, no doubt BK will say that they never lost a penny!\r\n\r\nApart from the UK election and NFP (why didn\'t I just sleep as planned), trading for the month of May to date has been good. I think that we just need to get GREECE out of the way and then we should get a clear run through to the summer months. I just cannot see the FOMC raising rates this side of the summer.\r\n\r\nU.S. data is just not that good. It flatters to deceive. I no longer care how booming the voice is it does make the data any better. I have said it before and I will repeat it once again. The U.S. consumer is NOT spending money and the housing market despite in a few select geographical pockets is weak. Without a booming housing market the economy does NOT grow and people do NOT have the confidence to spend money.\r\n\r\nLike many of you have written to me and commented, I want a week or two of just trending markets. I’m sorry but I just cannot see it at the moment. We are being beaten up at times by spiking equity market moves. What even happened to RISK ON and RISK OFF days?\r\n\r\nThe most important thing is that I still have my motivation to find trades everyday. It is harder this year compared to last year. But I do understand the comments and appreciate the sentiments involved regarding trend trading. If you look at section 4.6; the TRENDING PAIRS each week there are really just only a few out of 27 available pairs that I look at we only have maybe 33% each week that have DAILY, WEEKLY and MONTHLY charts moving in the same direction. When I first started trading it was nearly always 50% -66% trending. That says a huge amount about the current Forex Market conditions. That is why I wrote about this very point earlier in the blog.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-10052015.png\"><img class=\"aligncenter size-full wp-image-5933\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-10052015.png\" alt=\"PS LIVE TRADES 10052015\" width=\"722\" height=\"505\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/LIMIT-ORDERS-10052015.png\"><img class=\"aligncenter size-full wp-image-5934\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/LIMIT-ORDERS-10052015.png\" alt=\"LIMIT ORDERS 10052015\" width=\"717\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nWhilst GREECE is obviously a major concern, but, now that the UK ELECTION is over and done with plus another NFP out of the way, I am hoping that as the dust settles we will have good trading opportunities ahead.\r\n\r\nMy obvious focus is in the GBP cross-rates. I believe that the GBP is now looking for any excuse to rally and whilst the GBP/USD may be weighed down by EUR weakness and USD strength, the cross-rate effect could come into play via GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD and EUR/GBP.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-10052015.png\"><img class=\"aligncenter size-large wp-image-5954\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-10052015-1024x598.png\" alt=\"AUDCAD D 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-12HR-10052015.png\"><img class=\"aligncenter size-large wp-image-5953\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-12HR-10052015-1024x598.png\" alt=\"AUDCHF 12HR 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-12HR-10052015.png\"><img class=\"aligncenter size-large wp-image-5952\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-12HR-10052015-1024x598.png\" alt=\"CADCHF 12HR 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-W-10052015.png\"><img class=\"aligncenter size-large wp-image-5951\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-W-10052015-1024x598.png\" alt=\"GBPAUD W 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCAD-240M-10052015.png\"><img class=\"aligncenter size-large wp-image-5950\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCAD-240M-10052015-1024x598.png\" alt=\"GBPCAD 240M 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-D-10052015.png\"><img class=\"aligncenter size-large wp-image-5949\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-D-10052015-1024x598.png\" alt=\"GBPCHF D 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-W-10052015.png\"><img class=\"aligncenter size-large wp-image-5948\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-W-10052015-1024x598.png\" alt=\"GBPNZD W 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-12HR-10052015.png\"><img class=\"aligncenter size-large wp-image-5947\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-12HR-10052015-1024x598.png\" alt=\"NZDCHF 12HR 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-10052015.png\"><img class=\"aligncenter size-full wp-image-5931\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-10052015.png\" alt=\"PS TRENDING PAIRS 10052015\" width=\"387\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.1198</strong>\r\n\r\nWe closed last week just 10 pips higher than last weeks close. My comments relating to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5945\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-08052015-1024x598.png\" alt=\"EURUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.1040 with resistance is at 1.1285 then 1.1400.\r\n\r\n&nbsp;\r\n\r\n<strong>GBP/USD: Closing Price 1.5441</strong>.\r\n\r\nI was completely taken off guard with the GBP/USD following the shock election exit poll and subsequent result.\r\n\r\nMy comments for this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5944\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-08052015-1024x598.png\" alt=\"GBPUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5070 and resistance at 1.5550.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7919</strong>.\r\n\r\nThis pair is creeping higher week on week. My comments relating to this pair are contained on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5946\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-08052015-1024x598.png\" alt=\"AUDUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7790 and resistance at 0.8010, then 0.8100.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7489</strong>.\r\n\r\nI am now bearish on this pair, and whilst disappointed with its move following NFP, I still see it as a downside trade over the coming sessions. My comments related to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5943\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-08052015-1024x598.png\" alt=\"NZDUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2069.</strong>\r\n\r\nWow, the chart below looks bearish. I am looking to pick this pair up for a long side trade at much lower levels around 1.1950. If this level does not hold I fear we will see a major correction come into play.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5942\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-08052015-1024x598.png\" alt=\"USDCAD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2000, if not then 1.1935. Resistance is at 1.2150.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9277</strong>.\r\n\r\nI think that the uncertainty over GREECE is finally manifesting itself in the CHF. I am trying my best to stay clear until the GREECE situation is resolved. I do want to enter long this pair and lower levels suit me better. I will have to wait and see.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5941\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-08052015-1024x598.png\" alt=\"USDCHF W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\nSupport is at 0.9120 and resistance at 0.9350.\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 119.61. </strong>\r\n\r\nStill range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5940\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-08052015-1024x598.png\" alt=\"USDJPY W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nThe highlights for me being; Carney’s BOE Inflation Report, Wheelers fireside chat about all things RBNZ and USD Retail Sales. With the review of the U.S. data on TV, I just love it when the American pundits are so bullish when data is pure and simple crap. They believe if they talk louder it somehow makes the data improve. I just love it.\r\n\r\nAdded to the above economic data there is always GREECE news to keep us interested. Apparently, May 11<sup>th</sup> and May 12<sup>th</sup> are now the key dates. “Yeah right, my ar*e”.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 10th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','WHY IS THE FX MARKET GIVING MIXED SIGNALS?','','inherit','open','closed','','5955-revision-v1','','','2015-05-08 21:14:44','2015-05-09 02:14:44','',5955,'https://weeklyfxdrivethru.com/5955-revision-v1/',0,'revision','',0),(5957,1,'2015-05-08 21:16:05','2015-05-09 02:16:05','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 10.05.2015\r\nREFERENCE: #59\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n&nbsp;\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nI wrote last week about the USD index, and question is it too early to write off the USD.\r\n\r\nIn my opinion the jury is still out, however, I am starting to “wobble a little” on the DXY. It really needs to show its teeth prior to the FED hiking U.S. interest rates, which could now be in September / October.\r\n\r\nWe had a very interesting week in the Forex market last week, but in my opinion two events stood out from the rest.\r\n\r\n<u>RBA RATE STATEMENT:</u>\r\n\r\nIn the wee hours of Tuesday morning (EDT) last week, the RBA cut interest rates by 0.25% to record lows for Australia. To celebrate this fact, those bloody Aussies sent the AUD/USD higher instead of lower on the back of the rate cut. This directional anomaly was based on the fact that Glenn Stevens basically stated that after this rate cut the RBA was moving policy to neutral…”no more cuts”… bugger.\r\n\r\nThe AUD/USD rallied to 0.8000, I am still trying to work out when I got up the next morning why I didn’t short it from those highs. In any event another central bank has stated “no more” with regards to further interest rate cuts. As the Irish would say, with their well known double negative statement…. “Yeah right!” and with my Liverpool sense of humour, I would add “Yeah right my ar*e!”.\r\n\r\nWe are in a currency war. Central Bank governors want their exchange rates lower to remain competitive; they know that they just cannot achieve their target exchange rates by jawboning alone. Rate cuts will continue to feature.\r\n\r\nIn my opinion the commodity based countries in general not just Australia have it the hardest when there is little worldwide consumer demand. It is all very well having low inflation, but growth is required, and, many countries face potential housing bubbles just to make matters more interesting, so cutting rates can fuel the housing bubbles. It is a fine line. Is a housing bubble a risk worth taking? We will soon find out.\r\n\r\n<u>UK GENERAL ELECTION:</u>\r\n\r\nWow.\r\n\r\nI got it completely wrong; in fact, I have not seen a single review of the expected result that said that the Conservatives would win with an overall majority.\r\n\r\nThe BBC and SKY NEWS exit polls were released at the daily open/close cross-over at 5.00PM (EDT) last Thursday. I was stuffed with my GBP/JPY and GBP/USD shorts that were open at the time. I had a number of SELL STOP orders in position as well, which I cancelled straight away as I absorbed the news.\r\n\r\nIt has been a long, long time since I can recall so many opinion polls running up to voting day that were in almost complete agreement as to the outcome. They all got it not just slightly wrong but completely ass-ways in comparison to the exit polls that were conducted earlier on voting day.\r\n\r\nI would say that at a lot of people lost money at 5.00PM but made it back in the following 5/6 hours until the GBP/USD hit its limit at 1.5520. This, I suppose is what makes Forex Trading so exciting and annoying at the same time. My whole train of thought was buying the GBP/USD on a dip towards 1.4850. A move to 1.5500 never entered my head.\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n\r\n<u>GREECE:</u>\r\n\r\nI do not want to sound like a broken record but…….. It’s still going….\r\n\r\nAllegedly, Varoufakis is claiming that an agreement with its creditors is due almost daily. Not wanting to repeat myself but “Yeah right my ar*e”.\r\n\r\nHe has to say this to keep the markets as calm as possible, now he could be telling the truth, but “Yeah right, my ar*e”. Am I too cynical?\r\n\r\nI still think that the only way for GREECE to move forward and get this f**king monkey off its back is to declare itself bankrupt and default. That should bring in some volatility.\r\n\r\nI bet even now in 2015 we still have not got 100% transparency on what countries and banks are in for a hiding should GREECE default. I have seen the official list and I published this in this blog a few weeks ago.\r\n\r\nFrankly, I do not believe a damn thing anymore. GREECE was supposed to be out of cash weeks ago and could not pay any bills at all, yet here we are today still writing about it.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: AUD – NAB Business Confidence.\r\n\r\nMONDAY: GBP – BOE Bank Rate.\r\n\r\nTUESDAY: AUD – Annual Government Budget Release.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\nTUESDAY: NZD – Graeme Wheeler speaks.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – BOE Inflation Report.\r\nWEDNESDAY: GBP – BOE Mark Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales and Retail Sales.\r\n\r\nTHURSDAY: N/A.\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nThe equity markets seem to be extremes and this causes “freaky” moves from time to time in the currency markets. These moves that we sometime see that make little sense at the time are sparked off many times by pure trivia.\r\n\r\nAt the moment we have OIL at the crossroads; does it move lower or higher next. Does supply and demand really matter in that market? I am sure that, that question is being asked many, many times.\r\n\r\nWe also have the GREECE situation, which, the longer it goes on unresolved means that the crisis looms closer and closer.\r\n\r\nBoth OIL and GREECE cause rapid-fire movements in the USD and this exacerbates throughout. There is absolutely nothing that we can do except be conscious of these issues. But, frankly, what can we do?\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>WHY IS THE FX MARKET GIVING MIXED SIGNALS?</strong></p>\r\nI wrote last week about how the Forex Market has thrown many curve balls at us traders this year, and, it got me thinking.\r\n\r\nOne piece of data that I provide to the PREMIUM SERVICE subscribers in their version of this blog each week looks at Forex TRENDING with the same 27 Forex Trading pairs reviewed each week.\r\n\r\nBasically, I provide an excel spread sheet detailing which of the 27 pairs have the longer term interval charts (DAILY, WEEKLY and MONTHLY) all moving in the same direction, whether is be long or short.\r\n\r\nI recall at one stage in my trading development that I would only trade in the direction of the longer-term trends and if all three charts did not line up in the same direction, I would not take the trade. This became criteria for trading in one of my earlier TRADING PLANS.\r\n\r\nOf late, I have removed this feature from my TRADING PLAN, but everyday I refer to what I call my DIRECTIONALS. I believe that it gives me an edge, more confidence in placing a trade knowing that the trend is behind me.\r\n\r\nSeven years or so ago, when I first started trading, there were huge consistencies amongst the pairs;\r\n\r\ne.g.\r\n\r\nThe AUD/CAD, EUR/CAD, GBP/CAD and USD/CAD would all be trading in the same direction. If one pair was bearish they were all bearish. Most of the time this is still true today but of late this has altered.\r\n\r\nOften times the USD/CAD can be long sided trend and the EUR/AUD and GBP/AUD be a short-sided trade. When you consider this has to take into consideration the fact that we are looking for all three charts to line up in the same direction. The fact that one set can be so diverse poses some questions.\r\n\r\nBelow, I show the excel sheets that are saved from THE WEEKLY FX DRIVE THRU (PREMIUM SERVICE VERSION) blogs from previous weeks were currency pairs trending long or short for the three longer time framed charts are listed.\r\n\r\n5<sup>th</sup>, 12<sup>th</sup>, 19<sup>th</sup>, 26<sup>th</sup> April plus 3<sup>rd</sup> and 10<sup>th</sup> May 2015. The last six weeks of charts.\r\n\r\nOut of 27 pairs the charts tell you how many pairs are trending. If a currency pair is not there then it had mixed signals.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\"><img class=\"aligncenter size-full wp-image-5922\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\" alt=\"ART2 05042015\" width=\"391\" height=\"388\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\"><img class=\"aligncenter size-full wp-image-5923\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\" alt=\"ART2 12042015\" width=\"394\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\"><img class=\"aligncenter size-full wp-image-5924\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\" alt=\"ART2 19042015\" width=\"399\" height=\"342\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\"><img class=\"aligncenter size-full wp-image-5925\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\" alt=\"ART2 26042015\" width=\"399\" height=\"356\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\"><img class=\"aligncenter size-full wp-image-5926\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\" alt=\"ART2 03052015\" width=\"395\" height=\"378\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\"><img class=\"aligncenter size-full wp-image-5927\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\" alt=\"ART2 10052015\" width=\"387\" height=\"340\" /></a>\r\n\r\nBack in 2007-8, it was a consistent 50% -75% each and every week. Of late you can see that we are under 40% each week.\r\n\r\nFrom my perspective, this shows as well as the obvious lack of trend and direction within a currency pair, but also the fact the raised levels of volatility and swift moves are being reflected in these longer-term charts.\r\n\r\nWhat does it mean?\r\n\r\nDoes it affect our trading behavior?\r\n\r\nWell, it means as I have already eluded to that we have an issue of lack of directional trading, and the “trend is your friend” really does not come into play when placing a trade.\r\n\r\nTrading psychology in my opinion is huge, and it is often forgotten about as we plough through our daily routines. Sub consciously however; our minds are being messed with. I am not saying that my mind casts its way back to my latest excel spreadsheet but it must resonate somewhere as I have these charts displayed on one of my monitors.\r\n\r\nWhat I am saying is that the more pairs that display mixed trends the more volatility there is for us as traders to content with. Plus the more divergences there are within a given set of matching currency related pairs the more difficult it is to trade.\r\n\r\nRecently we have seen EUR/USD and GBP/USD moving lower with USD strength but the commodity currencies AUD/USD and NZD/USD moving higher in the opposite direction. We have both dollar strength pairs and dollar weakness pairs all within the USD majors.\r\n\r\nIn this instance how does the commodity cross-rates behave? Sometimes these can be great to trade believe it or not, look below: -\r\n\r\nGBP/USD acting with USD strength - GBP selling and USD buying.\r\nAUD/USD acting with USD weakness – AUD buying and USD selling.\r\n\r\nGBP/AUD would be a great short given 100% harmony with the above, ultimate powerful moves.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD acting with USD weakness – USD selling and CAD buying,\r\n\r\nAUD/CAD – this is now mixed from GBP/AUD. Because both commodity currencies are being bought in exchange for the USD.\r\n\r\nThis divergence can affect the moves in other cross-rates and what could be a great potential trade turns out to be one of frustration and annoying.\r\n\r\nI have written in the past about divergences and correlations, most of the time these articles are contained within the EDUCATION TAB inside my subscriber website.\r\n\r\nSo why are we getting mixed signals.\r\n\r\nSimply; FEAR, GREED and UNCERTAINTY in the markets. I can elaborate at great length but it all falls back to these three words.\r\n\r\nEquity markets are at extremes. Central Banks are providing so much liquidity that company valuations based on the relationship to its stock price are over-valued or very close to. Equities are the only place in a zero interest rate environment to see a return. We have been in one-sided markets for so long.\r\n\r\nThe retail buyer is in hiding; companies are heavily buying its own stock to improve its EPS but at the same time there are no sales for the top line income on the balance sheet, and, as a result, is under-performing. Consumer Confidence, Manufacturing PMI data is very mixed, some would say weak at best, and, this feeds FEAR, GREED and UNCERTAINTY.\r\n\r\nThus: - we have mixed messages and mixed signals in the FX market.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n\r\n&nbsp;\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nFrom time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 326 trades cost to trade = $32.60\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$397.60</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 326 trades cost to trade = $326.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$3,976.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 326 trades cost to trade = $3,260.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$39,760.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\"><img class=\"aligncenter size-full wp-image-5928\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\" alt=\"PREM SERV PROFITS1 10052015\" width=\"461\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\"><img class=\"aligncenter size-full wp-image-5929\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\" alt=\"REM SERV PROFITS2 10052015\" width=\"467\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThere is no EDUCATION article this week.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nI hate cable.\r\n\r\nThat feels much better now having written that. Apart from the cross-rates I am now very quickly coming to the conclusion that unless in extreme conditions I am going send the GBP to Coventry. It is without doubt the most annoying currency to work with. It is clinical at wiping out longs and shorts in the market and frankly I do not think I own large enough testicles to trade this currency without being able to trade without emotion becoming a factor. I want to keep emotion one-step removed.\r\n\r\nHello JPY and bye-bye GBP seems to coming back into view.\r\n\r\nWhat a week.\r\n\r\nI was smacked by the UK Exit Polls last Thursday; it looks like having spoken with my peer group and a few of you over the past 48 hours that I was NOT alone.\r\n\r\nI came across an article by Kathy Lien from BK, who appears on CNBC quite a bit. She actually went into print last Wednesday with details of what to short etc. ahead of time and what to have set up in advance of the result, which she like everyone else believed to be a hung parliament. I would say more than a few fingers were burnt there, no doubt BK will say that they never lost a penny!\r\n\r\nApart from the UK election and NFP (why didn\'t I just sleep as planned), trading for the month of May to date has been good. I think that we just need to get GREECE out of the way and then we should get a clear run through to the summer months. I just cannot see the FOMC raising rates this side of the summer.\r\n\r\nU.S. data is just not that good. It flatters to deceive. I no longer care how booming the voice is it does make the data any better. I have said it before and I will repeat it once again. The U.S. consumer is NOT spending money and the housing market despite in a few select geographical pockets is weak. Without a booming housing market the economy does NOT grow and people do NOT have the confidence to spend money.\r\n\r\nLike many of you have written to me and commented, I want a week or two of just trending markets. I’m sorry but I just cannot see it at the moment. We are being beaten up at times by spiking equity market moves. What even happened to RISK ON and RISK OFF days?\r\n\r\nThe most important thing is that I still have my motivation to find trades everyday. It is harder this year compared to last year. But I do understand the comments and appreciate the sentiments involved regarding trend trading. If you look at section 4.6; the TRENDING PAIRS each week there are really just only a few out of 27 available pairs that I look at we only have maybe 33% each week that have DAILY, WEEKLY and MONTHLY charts moving in the same direction. When I first started trading it was nearly always 50% -66% trending. That says a huge amount about the current Forex Market conditions. That is why I wrote about this very point earlier in the blog.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-10052015.png\"><img class=\"aligncenter size-full wp-image-5933\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-10052015.png\" alt=\"PS LIVE TRADES 10052015\" width=\"722\" height=\"505\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/LIMIT-ORDERS-10052015.png\"><img class=\"aligncenter size-full wp-image-5934\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/LIMIT-ORDERS-10052015.png\" alt=\"LIMIT ORDERS 10052015\" width=\"717\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nWhilst GREECE is obviously a major concern, but, now that the UK ELECTION is over and done with plus another NFP out of the way, I am hoping that as the dust settles we will have good trading opportunities ahead.\r\n\r\nMy obvious focus is in the GBP cross-rates. I believe that the GBP is now looking for any excuse to rally and whilst the GBP/USD may be weighed down by EUR weakness and USD strength, the cross-rate effect could come into play via GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD and EUR/GBP.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-10052015.png\"><img class=\"aligncenter size-large wp-image-5954\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-10052015-1024x598.png\" alt=\"AUDCAD D 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-12HR-10052015.png\"><img class=\"aligncenter size-large wp-image-5953\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-12HR-10052015-1024x598.png\" alt=\"AUDCHF 12HR 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-12HR-10052015.png\"><img class=\"aligncenter size-large wp-image-5952\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-12HR-10052015-1024x598.png\" alt=\"CADCHF 12HR 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-W-10052015.png\"><img class=\"aligncenter size-large wp-image-5951\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-W-10052015-1024x598.png\" alt=\"GBPAUD W 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCAD-240M-10052015.png\"><img class=\"aligncenter size-large wp-image-5950\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCAD-240M-10052015-1024x598.png\" alt=\"GBPCAD 240M 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-D-10052015.png\"><img class=\"aligncenter size-large wp-image-5949\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-D-10052015-1024x598.png\" alt=\"GBPCHF D 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-W-10052015.png\"><img class=\"aligncenter size-large wp-image-5948\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-W-10052015-1024x598.png\" alt=\"GBPNZD W 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-12HR-10052015.png\"><img class=\"aligncenter size-large wp-image-5947\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-12HR-10052015-1024x598.png\" alt=\"NZDCHF 12HR 10052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-10052015.png\"><img class=\"aligncenter size-full wp-image-5931\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-10052015.png\" alt=\"PS TRENDING PAIRS 10052015\" width=\"387\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.1198</strong>\r\n\r\nWe closed last week just 10 pips higher than last weeks close. My comments relating to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5945\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-08052015-1024x598.png\" alt=\"EURUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.1040 with resistance is at 1.1285 then 1.1400.\r\n\r\n&nbsp;\r\n\r\n<strong>GBP/USD: Closing Price 1.5441</strong>.\r\n\r\nI was completely taken off guard with the GBP/USD following the shock election exit poll and subsequent result.\r\n\r\nMy comments for this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5944\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-08052015-1024x598.png\" alt=\"GBPUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5070 and resistance at 1.5550.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7919</strong>.\r\n\r\nThis pair is creeping higher week on week. My comments relating to this pair are contained on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5946\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-08052015-1024x598.png\" alt=\"AUDUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7790 and resistance at 0.8010, then 0.8100.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7489</strong>.\r\n\r\nI am now bearish on this pair, and whilst disappointed with its move following NFP, I still see it as a downside trade over the coming sessions. My comments related to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5943\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-08052015-1024x598.png\" alt=\"NZDUSD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2069.</strong>\r\n\r\nWow, the chart below looks bearish. I am looking to pick this pair up for a long side trade at much lower levels around 1.1950. If this level does not hold I fear we will see a major correction come into play.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5942\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-08052015-1024x598.png\" alt=\"USDCAD W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2000, if not then 1.1935. Resistance is at 1.2150.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9277</strong>.\r\n\r\nI think that the uncertainty over GREECE is finally manifesting itself in the CHF. I am trying my best to stay clear until the GREECE situation is resolved. I do want to enter long this pair and lower levels suit me better. I will have to wait and see.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5941\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-08052015-1024x598.png\" alt=\"USDCHF W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\nSupport is at 0.9120 and resistance at 0.9350.\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 119.61. </strong>\r\n\r\nStill range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-08052015.png\"><img class=\"aligncenter size-large wp-image-5940\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-08052015-1024x598.png\" alt=\"USDJPY W 08052015\" width=\"1024\" height=\"598\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nThe highlights for me being; Carney’s BOE Inflation Report, Wheelers fireside chat about all things RBNZ and USD Retail Sales. With the review of the U.S. data on TV, I just love it when the American pundits are so bullish when data is pure and simple crap. They believe if they talk louder it somehow makes the data improve. I just love it.\r\n\r\nAdded to the above economic data there is always GREECE news to keep us interested. Apparently, May 11<sup>th</sup> and May 12<sup>th</sup> are now the key dates. “Yeah right, my ar*e”.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 10th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','WHY IS THE FX MARKET GIVING MIXED SIGNALS?','','inherit','open','closed','','5955-revision-v1','','','2015-05-08 21:16:05','2015-05-09 02:16:05','',5955,'https://weeklyfxdrivethru.com/5955-revision-v1/',0,'revision','',0),(5962,1,'2015-05-08 21:43:55','2015-05-09 02:43:55','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 10.05.2015\r\nREFERENCE: #152\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nI wrote last week about the USD index, and question is it too early to write off the USD.\r\n\r\nIn my opinion the jury is still out, however, I am starting to “wobble a little” on the DXY. It really needs to show its teeth prior to the FED hiking U.S. interest rates, which could now be in September / October.\r\n\r\nWe had a very interesting week in the Forex market last week, but in my opinion two events stood out from the rest.\r\n\r\n<u>RBA RATE STATEMENT:</u>\r\n\r\nIn the wee hours of Tuesday morning (EDT) last week, the RBA cut interest rates by 0.25% to record lows for Australia. To celebrate this fact, those bloody Aussies sent the AUD/USD higher instead of lower on the back of the rate cut. This directional anomaly was based on the fact that Glenn Stevens basically stated that after this rate cut the RBA was moving policy to neutral…”no more cuts”… bugger.\r\n\r\nThe AUD/USD rallied to 0.8000, I am still trying to work out when I got up the next morning why I didn’t short it from those highs. In any event another central bank has stated “no more” with regards to further interest rate cuts. As the Irish would say, with their well known double negative statement…. “Yeah right!” and with my Liverpool sense of humour, I would add “Yeah right my ar*e!”.\r\n\r\nWe are in a currency war. Central Bank governors want their exchange rates lower to remain competitive; they know that they just cannot achieve their target exchange rates by jawboning alone. Rate cuts will continue to feature.\r\n\r\nIn my opinion the commodity based countries in general not just Australia have it the hardest when there is little worldwide consumer demand. It is all very well having low inflation, but growth is required, and, many countries face potential housing bubbles just to make matters more interesting, so cutting rates can fuel the housing bubbles. It is a fine line. Is a housing bubble a risk worth taking? We will soon find out.\r\n\r\n<u>UK GENERAL ELECTION:</u>\r\n\r\nWow.\r\n\r\nI got it completely wrong; in fact, I have not seen a single review of the expected result that said that the Conservatives would win with an overall majority.\r\n\r\nThe BBC and SKY NEWS exit polls were released at the daily open/close cross-over at 5.00PM (EDT) last Thursday. I was stuffed with my GBP/JPY and GBP/USD shorts that were open at the time. I had a number of SELL STOP orders in position as well, which I cancelled straight away as I absorbed the news.\r\n\r\nIt has been a long, long time since I can recall so many opinion polls running up to voting day that were in almost complete agreement as to the outcome. They all got it not just slightly wrong but completely ass-ways in comparison to the exit polls that were conducted earlier on voting day.\r\n\r\nI would say that at a lot of people lost money at 5.00PM but made it back in the following 5/6 hours until the GBP/USD hit its limit at 1.5520. This, I suppose is what makes Forex Trading so exciting and annoying at the same time. My whole train of thought was buying the GBP/USD on a dip towards 1.4850. A move to 1.5500 never entered my head.\r\n\r\n&nbsp;\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n\r\n<u>GREECE:</u>\r\n\r\nI do not want to sound like a broken record but…….. It’s still going….\r\n\r\nAllegedly, Varoufakis is claiming that an agreement with its creditors is due almost daily. Not wanting to repeat myself but “Yeah right my ar*e”.\r\n\r\nHe has to say this to keep the markets as calm as possible, now he could be telling the truth, but “Yeah right, my ar*e”. Am I too cynical?\r\n\r\nI still think that the only way for GREECE to move forward and get this f**king monkey off its back is to declare itself bankrupt and default. That should bring in some volatility.\r\n\r\nI bet even now in 2015 we still have not got 100% transparency on what countries and banks are in for a hiding should GREECE default. I have seen the official list and I published this in this blog a few weeks ago.\r\n\r\nFrankly, I do not believe a damn thing anymore. GREECE was supposed to be out of cash weeks ago and could not pay any bills at all, yet here we are today still writing about it.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: AUD – NAB Business Confidence.\r\n\r\nMONDAY: GBP – BOE Bank Rate.\r\n\r\nTUESDAY: AUD – Annual Government Budget Release.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\nTUESDAY: NZD – Graeme Wheeler speaks.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – BOE Inflation Report.\r\nWEDNESDAY: GBP – BOE Mark Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales and Retail Sales.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nThe equity markets seem to be extremes and this causes “freaky” moves from time to time in the currency markets. These moves that we sometime see that make little sense at the time are sparked off many times by pure trivia.\r\n\r\nAt the moment we have OIL at the crossroads; does it move lower or higher next. Does supply and demand really matter in that market? I am sure that, that question is being asked many, many times.\r\n\r\nWe also have the GREECE situation, which, the longer it goes on unresolved means that the crisis looms closer and closer.\r\n\r\nBoth OIL and GREECE cause rapid-fire movements in the USD and this exacerbates throughout. There is absolutely nothing that we can do except be conscious of these issues. But, frankly, what can we do?\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WHY IS THE FX MARKET GIVING MIXED SIGNALS?</strong></p>\r\nI wrote last week about how the Forex Market has thrown many curve balls at us traders this year, and, it got me thinking.\r\n\r\nOne piece of data that I provide to the PREMIUM SERVICE subscribers in their version of this blog each week looks at Forex TRENDING with the same 27 Forex Trading pairs reviewed each week.\r\n\r\nBasically, I provide an excel spread sheet detailing which of the 27 pairs have the longer term interval charts (DAILY, WEEKLY and MONTHLY) all moving in the same direction, whether it be long or short.\r\n\r\nI recall at one stage in my trading development that I would only trade in the direction of the longer-term trends and if all three charts did not line up in the same direction, I would not take the trade. This became criteria for trading in one of my earlier TRADING PLANS.\r\n\r\nOf late, I have removed this feature from my TRADING PLAN, but everyday I refer to what I call my DIRECTIONALS. I believe that it gives me an edge, more confidence in placing a trade knowing that the trend is behind me.\r\n\r\nSeven years or so ago, when I first started trading, there were huge consistencies amongst the pairs;\r\n\r\ne.g.\r\n\r\nThe AUD/CAD, EUR/CAD, GBP/CAD and USD/CAD would all be trading in the same direction. If one pair was bearish they were all bearish. Most of the time this is still true today but of late this has altered.\r\n\r\nOften times the USD/CAD can be long sided trend and the EUR/AUD and GBP/AUD be a short-sided trade. When you consider this has to take into consideration the fact that we are looking for all three charts to line up in the same direction. The fact that one set can be so diverse poses some questions.\r\n\r\nBelow, I show the excel sheets that are saved from THE WEEKLY FX DRIVE THRU (PREMIUM SERVICE VERSION) blogs from previous weeks were currency pairs trending long or short for the three longer time framed charts are listed.\r\n\r\n5<sup>th</sup>, 12<sup>th</sup>, 19<sup>th</sup>, 26<sup>th</sup> April plus 3<sup>rd</sup> and 10<sup>th</sup> May 2015. The last six weeks of charts.\r\n\r\nOut of 27 pairs the charts tell you how many pairs are trending. If a currency pair is not there then it had mixed signals.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\"><img class=\"aligncenter size-full wp-image-5922\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\" alt=\"ART2 05042015\" width=\"391\" height=\"388\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\"><img class=\"aligncenter size-full wp-image-5923\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\" alt=\"ART2 12042015\" width=\"394\" height=\"455\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\"><img class=\"aligncenter size-full wp-image-5924\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\" alt=\"ART2 19042015\" width=\"399\" height=\"342\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\"><img class=\"aligncenter size-full wp-image-5925\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\" alt=\"ART2 26042015\" width=\"399\" height=\"356\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\"><img class=\"aligncenter size-full wp-image-5926\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\" alt=\"ART2 03052015\" width=\"395\" height=\"378\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\"><img class=\"aligncenter size-full wp-image-5927\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\" alt=\"ART2 10052015\" width=\"387\" height=\"340\" /></a>\r\n\r\n&nbsp;\r\n\r\nBack in 2007-8, it was a consistent 50% -75% each and every week. Of late you can see that we are under 40% each week.\r\n\r\nFrom my perspective, this shows as well as the obvious lack of trend and direction within a currency pair, but also the fact the raised levels of volatility and swift moves are being reflected in these longer-term charts.\r\n\r\nWhat does it mean?\r\n\r\nDoes it affect our trading behavior?\r\n\r\nWell, it means as I have already eluded to that we have an issue of lack of directional trading, and the “trend is your friend” really does not come into play when placing a trade.\r\n\r\nTrading psychology in my opinion is huge, and it is often forgotten about as we plough through our daily routines. Sub consciously however; our minds are being messed with. I am not saying that my mind casts its way back to my latest excel spreadsheet but it must resonate somewhere as I have these charts displayed on one of my monitors.\r\n\r\nWhat I am saying is that the more pairs that display mixed trends the more volatility there is for us as traders to content with. Plus the more divergences there are within a given set of matching currency related pairs the more difficult it is to trade.\r\n\r\nRecently we have seen EUR/USD and GBP/USD moving lower with USD strength but the commodity currencies AUD/USD and NZD/USD moving higher in the opposite direction. We have both dollar strength pairs and dollar weakness pairs all within the USD majors.\r\n\r\nIn this instance how does the commodity cross-rates behave? Sometimes these can be great to trade believe it or not, look below: -\r\n\r\nGBP/USD acting with USD strength - GBP selling and USD buying.\r\nAUD/USD acting with USD weakness – AUD buying and USD selling.\r\n\r\nGBP/AUD would be a great short given 100% harmony with the above, ultimate powerful moves.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD acting with USD weakness – USD selling and CAD buying,\r\n\r\nAUD/CAD – this is now mixed from GBP/AUD. Because both commodity currencies are being bought in exchange for the USD.\r\n\r\nThis divergence can affect the moves in other cross-rates and what could be a great potential trade turns out to be one of frustration and annoying.\r\n\r\nI have written in the past about divergences and correlations, most of the time these articles are contained within the EDUCATION TAB inside my subscriber website.\r\n\r\nSo why are we getting mixed signals.\r\n\r\nSimply; FEAR, GREED and UNCERTAINTY in the markets. I can elaborate at great length but it all falls back to these three words.\r\n\r\nEquity markets are at extremes. Central Banks are providing so much liquidity that company valuations based on the relationship to its stock price are over-valued or very close to. Equities are the only place in a zero interest rate environment to see a return. We have been in one-sided markets for so long.\r\n\r\nThe retail buyer is in hiding; companies are heavily buying its own stock to improve its EPS but at the same time there are no sales for the top line income on the balance sheet, and, as a result, is under-performing. Consumer Confidence, Manufacturing PMI data is very mixed, some would say weak at best, and, this feeds FEAR, GREED and UNCERTAINTY.\r\n\r\nThus: - we have mixed messages and mixed signals in the FX market.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong>&nbsp;</li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\n\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>3 options on subscription periods.</li>\r\n	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n\r\n&nbsp;\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\n&nbsp;\r\n\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nFrom time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 326 trades cost to trade = $32.60\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$397.60</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 326 trades cost to trade = $326.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$3,976.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 326 trades cost to trade = $3,260.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$39,760.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\"><img class=\"aligncenter size-full wp-image-5928\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\" alt=\"PREM SERV PROFITS1 10052015\" width=\"461\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\"><img class=\"aligncenter size-full wp-image-5929\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\" alt=\"REM SERV PROFITS2 10052015\" width=\"467\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:</u></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!<strong><u> </u></strong>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nThe highlights for me being; Carney’s BOE Inflation Report, Wheelers fireside chat about all things RBNZ and USD Retail Sales. With the review of the U.S. data on TV, I just love it when the American pundits are so bullish when data is pure and simple crap. They believe if they talk louder it somehow makes the data improve. I just love it.\r\n\r\nAdded to the above economic data there is always GREECE news to keep us interested. Apparently, May 11<sup>th</sup> and May 12<sup>th</sup> are now the key dates. “Yeah right, my ar*e”.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 10th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u><u> </u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','WHY IS THE FX MARKET GIVING MIXED SIGNALS?','','publish','open','closed','','why-is-the-fx-market-giving-mixed-signals','','','2015-05-08 21:43:55','2015-05-09 02:43:55','',0,'https://weeklyfxdrivethru.com/?p=5962',0,'post','',0),