<strong> </strong>
<ol>
 	<li><strong> INTRODUCTION:</strong></li>
</ol>
I’m back again… last weekend I was in Saratoga Springs to see The Dave Matthews Band in concert at SPAC… great band, great venue and Saratoga Springs is well worth a visit if you can get there.

Here it is the final blog of part one 2016. After this week I am on my summer break and I am not releasing blogs again until September 11<sup>th</sup>. I am trading and I will be active for PREMIUM SERVICE subscribers with trade set ups etc.

This summer I have to decide what I am going to do with twitter. I am taking a 17-day personal development course from my wife’s business portfolio (www.achievesuccesstoday.ca). Maybe this will help shed some enlightenment on my complete and utter distain for twitter and the bullsh*t that it churns out. I have to decide what to do with twitter as a promotional tool and over the coming weeks I will draw up my action plan to move forward.

Returning to Forex…

After a rather disjointed period of about 8 weeks I am now settled into the comforts of my office with the multi-screens. Trading off a MacBook and iPAD/iPhone frankly is difficult. To use them to close trades and look at a specific trades progression is fine but chart analysis is restrictive and impossible for me on the iPad/iPhone.
<ul>
 	<li>We have choppy markets.</li>
 	<li>We have uncertainty.</li>
 	<li>We have to a large extent, emasculated central banks.</li>
 	<li>Happy fecking days to one and all!</li>
</ul>
If this was not enough, the summer trading sessions are with us. It is virtually impossible in my opinion to take the Asian sessions seriously. Liquidity is so thin, moves are retraced and cancelled, false breakouts and false breakdowns will become more and more a common event and a permanent feature until the autumn/fall sessions return.

On my recent TOUR, I was in a timezone with the best times to trade Forex. We are in my opinion, almost at the point of limiting trading to the following hours: -

UK      Monday to Friday      8:00AM-9:00AM (Tokyo and London)
1:00PM-5:00PM (New York and London)

EST    Monday to Friday      3:00AM-4:00AM (Tokyo and London)
8:00AM-12:00PM (New York and London)

Like it or not as market makers, Banks move monies around when there are two of the three major centers open and when liquidity is at its best.

Part of me is also of the opinion that Fridays in the New York session are also loss leaders. So many traders treat summer Fridays as “POETS DAY” (Piss off early tomorrows Saturday). Sometimes you are left sitting in trades that you really do NOT want to hold over the weekend.

However, despite all of this through adapting to “real life” trading, by being more flexible in approach and having greater patience and tolerance with trades, I find myself in a place I did not think I would be in at this time of the year. Back in February 2016, the PREMIUM SERVICE took severe hits when all power and ISP’s had no service due to ice storms in my area for two/three days in total, stops were triggered left right and centre, profits could not be taken, trades could not be managed at all, it was a complete disaster.

The chart below which is based on end of July trading positions, shows that the recovery from zero at the end of February to now, in just 5 months has been strong. When you add in the fact that I was away on tour in the UK and IRELAND for some of the time…it is clear… that the PREMIUM SERVICE is doing something right!!

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/PIP-COMPARISONS-TO-JULY-2016.png"><img class="aligncenter size-full wp-image-8173" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/PIP-COMPARISONS-TO-JULY-2016.png" alt="PIP COMPARISONS TO JULY 2016" width="473" height="298" /></a>

The takeaway from the chart above is that despite it being only 5 months performance of which 4 weeks was on tour with virtually no trading, the pip total for 2016 is within 50 pips of that of 2015 and well ahead of 2014. If you want to know more and subscribe you need to contact me.

I am trading this summer, but if you want to take a break from trading, now through to September is the time to do it. I am trading because I felt I let down my subscribers a little during my UK &amp; IRELAND TOUR last month. There is also so much uncertainty in the marketplace that I am hoping that I will be able to capitalize on some fallout, plus I have so many LIVE trades at the moment that I DO NOT want to cover, they require managing!!

Moving on, for anyone new to this blog…

FREE PREMIUM SERVICE subscriptions; just to remind you that you could be the next winner of a free PREMIUM SERVICE subscription; if you subscribe to receive this free blog via my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

You are automatically entered into a free monthly draw, once you’ve subscribed. Each month during 2016 one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.

The next draw will be early September when I return from my summer break. The winner will be all set up prior to the September 11<sup>th</sup> blog release.

<strong> </strong>
<ol start="2">
 	<li><strong> THE PREMIUM SERVICE:</strong></li>
</ol>
<u>WHAT IS THE PREMIUM SERVICE:</u>

The PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.

Full details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.

Additional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.
<p style="text-align: center;"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>
<p style="text-align: center;">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>
<p style="text-align: center;">PREMIUM SERVICE subscription costs are as follows: -</p>
<p style="text-align: center;">CAD $240.00 - 4 weeks (1 month)
CAD $500.00 - 10 weeks (3 months)
CAD $750.00 - 20 weeks (6 months)
CAD $1,250.00 - 40 weeks (12 months)
<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD $1,000.00

I work for about 50 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>
<p style="text-align: center;"><strong><u>IMPORTANT TO NOTE:
</u></strong>Even though I am not posting “DRIVE THRU” blogs through the summer, any subscriptions opened now will not take effect until 11<sup>th</sup> September. However, the trade set-ups and all the benefits of the PREMIUM SERVICE will be open from the day you subscribe.
e.g.
You sign up today for a 10-week subscription. Cost = CAD $500.00
Your subscription will start September 11<sup>th</sup> and run until November 20<sup>th</sup>, but from the day you pay you will have full access to the PREMIUM SERVICE website content and receive ALL trade set-ups.
In this example subscribing today July 23<sup>rd</sup> that will give you a total of 16 weeks subscription (without the DRIVE THRU blog for 6 weeks) more than 50% in weeks
FREE OF CHARGE.
This is a great deal and a great opportunity.</p>
<p style="text-align: center;"><u>PREMIUM SERVICE PERFORMANCE THIS MONTH &amp; YEAR TO DATE:</u></p>
<p style="text-align: center;">
NET PIPS TO THE MONTH SO FAR:       +1,577 pips
NET PIPS THIS YEAR SO FAR:                +7,697 pips</p>
<p style="text-align: center;">NET PIPS 2015:       +10,686
NET PIPS 2014:       +11,209
(I trade basically for 10 months a year. I do not trade from mid July through early September or mid December through early January).</p>
<p style="text-align: center;">If you want more data or detail about the performance and the tabs on my website landing page do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.</p>
<strong> </strong>
<ol start="3">
 	<li><strong> THE FX MARKET PLACE:</strong></li>
</ol>
<strong>LAST WEEK’S NEWS – MY THOUGHTS:</strong>

There were a couple of goodies last week that I want to mention.

ECB PRESS CONFERENCE:

This was the only announcement that I was looking forward to last week, and I use the phrase looking forward to “tongue in cheek”.

It was as expected a bit of a non-event, hardly surprisingly really as the BRITS are putting nearly everything financial in the world on hold. In fact BREXIT is being used as the reason for most things negative.

Here in Quebec, I am waiting for the likes of my ISP’s (Rogers and Videotron) and more likely Canada Post to increase prices and blame the BREXIT for this. Canada Post being a classic “nickel &amp; dime” organization, they introduced a temporary fuel surcharge when OIL reached $140 a barrel, even with OIL sub $30 there was STILL a fuel surcharge and there is still one today. Canadians are ripped off left right and centre by institutions who blame everyone else except for themselves, looking to exploit and profiteer.

Off my soapbox…

Draghi basically shied away from anything new and basically intimated any new policy initiatives on easing etc. would come in September. This would follow Carney’s announcement due in August, when he is widely expected to cut interest rates and fly over London in a helicopter dropping wads of cash over the city!!

&nbsp;

RBNZ ECONOMIC STATEMENT:

Statler and Waldorf aka Wheeler (RBNZ Governor) and McDermott (Assistant Governor and Head of Economics) between them the biggest pair of numpties in the Central Bank world, have led the markets a merry dance of false, poor interpretation of the facts, a basic inability to translate a world and regional macro economic position into an effective central bank monetary policy.

The monetary policy of the RBNZ is like a pair of hooker’s knickers up and down, up and down, up and down. I think that Mark Carney (BOE) misleads markets because he’s basically inept at what he does. His forward guidance is irrelevant and 100% mis-leading. My boy Labrador Ozzy has more of an idea, and he’s mainly focused on food.

Having said that I urge you to read back over statements made by the RBNZ in particular, and, if you can watch the press conferences without slashing your wrists through boredom watch these flutes in action. It is a scene from what I would have expected the BOE to look like in the 1950’s. A few chaps in the room telling a few chaps that it’s all right because we’ve spoken to our other chaps and chaps are chaps so all is fine.

At the last RBNZ meeting an acknowledgement was made to the Auckland housing bubble, that they were monitoring closely but a rate cut was no longer on the immediate horizon. They stated that they were still looking at the value of NZD, which they had previously stated was too high. Naturally the market reaction to this was to strengthen the NZD against all currencies; most notably it was the catalyst that sent the AUD/NZD lower towards 1.0300.

Next, they crap themselves and once again become reactionary. They then put out a press release that says that there will be a special announcement “An Economic Statement” on July 21<sup>st</sup>. Around the same time they announce that housing speculators will be subject to a 40% deposit on investment properties. Combing the two, the NZD comes under pressure and 7 days in a row the NZD/USD falls.

The financial statement comes out and guess what? It looks like interest cuts are on the way. The New Zealand economy is so heavily reliant on Dairy and China, their influences push and pull about with ease. Right now with interest rate differentials there is a desire from multi-nationals to use the antipodean countries to affect a carry-trade benefit. This places a tremendous strain on a country of the size of New Zealand.

Do not be surprised to see a 0.50% rate cut next time around. What makes me laugh a little is why wait for the meeting. Do it now… this instant… this moment. We all know that Statler and Waldorf are reactionary - why wait?

These guys have the authority just do it, all this prepare the markets is bullsh*t. The markets are like children that require a fixed routine and now the children are in control of the parents. If these central bankers were more authoritative they may have more respect.

Right now around the globe Central Bank Governors comments are to a large extent taken with a pinch of salt. It is their own fault they created this situation. I know it's a difficult thin line that none of them want to cross, but for God’s sake it has gone so far the wrong way the line is so far in the distance for a lot of central bankers they can no longer even see it. Central Bank Governors all need to grow a pair of bollo**s and step up… in my opinion!

&nbsp;

BOJ KURODA:

Some flute gets hold of a June interview made by Kuroda (BOJ Govenor) for the BBC and the markets go ape shit over the fact he said back then that there would be no helicopter money being dropped in Tokyo…WTF.

The JPY across the board fell like a lead balloon. I noticed on twitter some cowboys were saying how well they traded this news and already had trades in place…liars. In the name of sanity how on this planet could anyone, the likes of DAVID COPPERFIELD included predict that news event to move the JPY? This is one reason why I hate twitter, it is so full of crap.

&nbsp;

&nbsp;

<strong>WHAT’S BIG ON MY MIND:</strong>

My last normal full-sized blog posted on July 9<sup>th</sup> had the following as the title: -
<p style="text-align: center;"><strong>GET READY IN SPRING 2017 THERE WILL BE ANOTHER BREXIT VOTE</strong></p>
I follow that one two weeks later with:
<p style="text-align: center;"><strong>LOOKING LONGER-TERM THERE’S ONLY ONE WAY TO TRADE “THE CABLE”</strong></p>
&nbsp;

I have nailed my colours to the mast on this one. I do still believe that there is a very strong possibility of a re-vote next spring. (If you missed my original blog with this call you need to read it at: - <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

I do not want to go over old ground, but even with Theresa May as the new UK Prime Minister nothing changes. We are dealing with politicians and politics. Europe has a history with referendums.

Just because Theresa May says “BREXIT MEANS BREXIT”… “BEANS MEANZ HEINZ” but we still bought Cross and Blackwell or HP!!

On Friday last week we had the first real set of economic data after the BREXIT vote. The UK PMI’s were awful: -
<ul>
 	<li>FLASH UK PMi composite output index:
7 July (52.4 June) = 87 month low.</li>
 	<li>FLASH UK SERVICES PMi activity index:
4 July (52.3 June) = 88 month low.</li>
 	<li>FLASH UK MANUFACTURING PMi:
1 July (52.1 June) = 41 month low.</li>
 	<li>FLASH UK MANUFACTURING PMi output index:
1 July (52.9 June) = 40 month low.</li>
</ul>
By any stretch this looks as if things came to an <strong>emergency stop</strong> when the votes were counted. To some extent, this is to be expected as the result was not predicted and massive uncertainty hung over all businesses as both sides of the debate sold FEAR rather than FACTS.

The “remains” stated that the end of the world as we know it could happen should a BREXIT vote prevails. Business sat back and waited for the sirens to bellow out… but nothing happened, the political world in the UK when you needed strength all fecked off on party divisions.

Is it any wonder there are protest votes all over the world against the political establishment?

This uncertainty is not helped by the infamous Article 50 from the Lisbon Treaty, that by the way the IRISH rejected first time around in a EUROPEAN REFERENDUM. PM May is stating that she has a timeline that looks at invoking Article 50 early in 2017. There is a long, long, long, long time in politics between now and then.

Of course no member EU state has ever invoked Article 50. Is it irrevocable once triggered? There is no precedent at all. Is the two-year transition period to leave once the article is triggered like a cooling-off period?

I believe between now and the end of 2016 pressure for another vote will mount prior to legal interpretation being required.

Legal challenges will be in the news soon because big business did not get its way. London voted Yes so fu*k the rest of the country will be the call. Those living in the capital have no idea what it is like to live away from London. The capital city gets most of the money, the rest of the country sees the privileged wasting their hard earned taxes and in return the rest of the country lacks the same commitment to investment by central government.

It’s a typical overview for a protest vote. Instead of examining why, those in the city carry on regardless in the same way using money to buy influence. This action only fuels the protest vote, how can people not see it and yet be so stupid?

Anyway… it is what it is. Most political establishments around the globe need an enema of massive proportions to clean the sh*t out once and for all!

So, the bottom-line from a trading perspective is that we have political and global uncertainties as a result of the BREXIT vote.

Whichever way I look at this, there is only one way to trade, the cable and that is to SELL RIPS, sell into spikes and look for lower levels. Can the GBP come really undone? Dead right my arse it can.

The charts below (GBP/USD, EUR/GBP, GBP/CHF, GBP/AUD, GBP/CAD and GBP/NZD) contain levels and a few of my own thoughts (GBP/JPY will be treated separately).

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPUSD-BREXIT-MONTHLY-CHART-23072016.png"><img class="aligncenter size-large wp-image-8182" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPUSD-BREXIT-MONTHLY-CHART-23072016-1024x480.png" alt="GBPUSD BREXIT MONTHLY CHART 23072016" width="1024" height="480" /></a>

&nbsp;

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPNZD-BREXIT-DAILY-CHART-23072016.png"><img class="aligncenter size-large wp-image-8181" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPNZD-BREXIT-DAILY-CHART-23072016-1024x480.png" alt="GBPNZD BREXIT DAILY CHART 23072016" width="1024" height="480" /></a>

&nbsp;

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPCHF-BREXIT-MONTHLY-CHART-23072016.png"><img class="aligncenter size-large wp-image-8180" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPCHF-BREXIT-MONTHLY-CHART-23072016-1024x480.png" alt="GBPCHF BREXIT MONTHLY CHART 23072016" width="1024" height="480" /></a>

&nbsp;

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPCAD-BREXIT-DAILY-CHART-23072016.png"><img class="aligncenter size-large wp-image-8179" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPCAD-BREXIT-DAILY-CHART-23072016-1024x480.png" alt="GBPCAD BREXIT DAILY CHART 23072016" width="1024" height="480" /></a>

&nbsp;

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPAUD-BREXIT-DAILY-CHART-23072016.png"><img class="aligncenter size-large wp-image-8178" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPAUD-BREXIT-DAILY-CHART-23072016-1024x480.png" alt="GBPAUD BREXIT DAILY CHART 23072016" width="1024" height="480" /></a>

&nbsp;

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/EURGBP-BREXIT-MONTHLY-CHART-23072016.png"><img class="aligncenter size-large wp-image-8177" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/EURGBP-BREXIT-MONTHLY-CHART-23072016-1024x480.png" alt="EURGBP BREXIT MONTHLY CHART 23072016" width="1024" height="480" /></a>

&nbsp;

There are potentially massive moves ahead and remember we get two bites of the cherry, the downward move and then the inevitable retracement move.

(For PREMIUM SERVICE subscribers I will be releasing a full “BREXIT OPPORTUNITY TRADE” analysis with trade set ups across the 6 currency pairs listed above very, very soon, in fact within days. This will be similar to the G20 trades from earlier this year that generated a lot of pips).

Looking at what is on the horizon to back up my thoughts from the chart opportunities etc.
<ol>
 	<li>Mark Carney has already indicated that the BOE will be jumping in to support the markets. Next month an interest rate cut will be made and in addition potentially QE re-enforcements. (GBP negative)</li>
 	<li>The PMi data must be scaring the crap out of the government. They will treat it for now as a BREXIT blip and pray to God for an improvement next month. My view from the business owners I have spoken with is that nothing much has altered since the BREXIT vote was announced and that economically things are going backwards rather than forwards. (GBP negative)</li>
 	<li>House prices in London and around the country are under pressure. House values are critical for London, for the “feel good factor” it’s even more important than it is for the rest of the country because the capital’s prices are so inflated. Foreign investment that inflates prices has dried up almost completely. This will send shivers through the government. Housing needs to be buoyant to keep an economy moving. No housing sales, no home improvement purchases, no contractors employed and potential lay-offs, unemployment reduced tax intake and benefits required. (GBP negative)</li>
 	<li>General business stagnation through uncertainty to proceed. There is a “what’s the point” process in place ridiculous as it sounds. The delay in triggering article 50 does NOT help and the fact it's a two-year process to complete the switch, is also producing more uncertainties through the transition period. (GBP negative)</li>
 	<li>Consumer confidence is low, driven by the uncertainty. (GBP negative)</li>
</ol>
It’s not a pretty picture moving forward.

I am NOT bullish at all. I think with regards to the GBP pairs its very simple; “SELL the RIPS and BUY the DIPS” (where applicable).

&nbsp;

&nbsp;
<ol start="4">
 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE AREA:</strong></li>
</ol>
TRADING REVIEW:

Delighted with the macro performance so far this year. Looking closer at the monthly numbers there are areas to improve ion, but generally I am happy.

FUNDAMENTAL trade profits have never really recovered from the “ICE STORMS”. It is not surprising given the change in approach to trading this year through the choppy markets of uncertainty that the POSITION TRADES are providing the basis for most of the pip profits.

This is the reason I want to approach the BREXIT TRADES through POSITION style trades. I will have a document, with trade set ups and charts out to you all very soon. I have a fresh broker account ready and waiting ready to go!!

&nbsp;

RISK TOLERANCE, RISK MANAGEMENT &amp; POSITION SIZING:

I am very conscious that as I stack LIMIT ORDER trades for the summer, many of you may NOT be looking at the potential RISK that could be building up with your broker accounts should these entire trades trigger at once. I am NOT expecting this at all but I am stacking up what can only be called something like potential contingent liabilities.

Please total the total STOP LOSS pips for the trades you are going to participate with and look at your position size to the size of your trading account.

I am trading with 5 brokers with trade types spread around and as you should know by now my RISK TOLERANCES vary by currency pair quite dramatically.

I do NOT need to know what balances you have in your broker accounts, but all I ask is that your RISK is MANAGED. The only effective way to do this is to reduce POSITION SIZES or place more funds with your broker to ensure that you DO NOT become a victim of a MARGIN CALL.

Adding a separate batch of trades for the BREXIT OPPORTUNITY will only exacerbate the matter, as I see potentially over a dozen set-ups from the get go.

PLEASE look at this, if you have concerns there are several PDF articles in the TRAING section and I can also answer questions, either by email or SKYPE/ FaceTime.

&nbsp;

2017 BLOG DATES:

Looking ahead a long time in the future, however, I have made some changes to the 2017 blog dates to accommodate a trip that I am making to NEW ZEALAND and AUSTRALIA. I am going over to give “Statler and Waldorf” a piece of my mind straight from the horse’s mouth so to speak!!

Actually, I am going to support my wife at her annual sales conference in Auckland and am I hoping to meet up with my 6/7 subscribers based on the North Island and around Sydney.

I am away for 4 weeks on the trip/holiday combined and the missing weeks in May/June 2017 have been taken away from the summer/winter break. The revised excel spreadsheet is below and is also on the website.

<strong> <a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/BLOG-DATES-2017-1.png"><img class="aligncenter size-full wp-image-8176" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/BLOG-DATES-2017-1.png" alt="BLOG DATES 2017" width="420" height="552" /></a></strong>

<strong> </strong>

<strong>TRADES REVIEW:</strong>

The excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -

<strong> <a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/LIVE-TRADES-23072016.png"><img class="aligncenter size-full wp-image-8175" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/LIVE-TRADES-23072016.png" alt="LIVE TRADES 23072016" width="803" height="586" /></a></strong>

<strong> </strong>

<strong><a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/LIMIT-ORDERS-23072016.png"><img class="aligncenter size-full wp-image-8174" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/LIMIT-ORDERS-23072016.png" alt="LIMIT ORDERS 23072016" width="958" height="591" /></a> </strong>
<ol start="5">
 	<li><strong> COMING UP THIS WEEK:</strong></li>
</ol>
<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>

(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href="http://www.forexfactory.com">www.forexfactory.com</a> and <a href="http://www.tradingeconomics.com">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).

&nbsp;

SUNDAY: N/A.

MONDAY: N/A.

TUESDAY: GBP – Inflation Report Hearings.
TUESDAY: USD – Consumer Confidence.
TUESDAY: AUD – CPi.

WEDNESDAY: GBP – Preliminary GDP.
WEDNESDAY: USD – FOMC Statement.

THURSDAY: N/A.

FRIDAY: JPY – BOJ Press Conference.
<u>THE USD MAJORS – MY THOUGHTS (A REVIEW): </u>

(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)

My comments are contained on the charts.

EUR/USD - Weekly Closing Price: 1.0977

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/EURUSD-DAILY-23072016.png"><img class="aligncenter size-large wp-image-8184" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/EURUSD-DAILY-23072016-1024x480.png" alt="EURUSD DAILY 23072016" width="1024" height="480" /></a>

GBP/USD - Weekly Closing Price: 1.3108

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPUSD-DAILY-23072016.png"><img class="aligncenter size-large wp-image-8185" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/GBPUSD-DAILY-23072016-1024x480.png" alt="GBPUSD DAILY 23072016" width="1024" height="480" /></a>

AUD/USD - Weekly Closing Price: 0.7461

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/AUDUSD-DAILY-230720156.png"><img class="aligncenter size-large wp-image-8183" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/AUDUSD-DAILY-230720156-1024x480.png" alt="AUDUSD DAILY 230720156" width="1024" height="480" /></a>

NZD/USD - Weekly Closing Price: 0.6999

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/NZDUSD-DAILY-23072016.png"><img class="aligncenter size-large wp-image-8186" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/NZDUSD-DAILY-23072016-1024x480.png" alt="NZDUSD DAILY 23072016" width="1024" height="480" /></a>

USD/CAD - Weekly Closing Price: 1.3127

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/USDCAD-DAILY-23072016.png"><img class="aligncenter size-large wp-image-8187" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/USDCAD-DAILY-23072016-1024x480.png" alt="USDCAD DAILY  23072016" width="1024" height="480" /></a>

USD/CHF - Weekly Closing Price: 0.9866

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/USDCHF-DAILY-23072016.png"><img class="aligncenter size-large wp-image-8188" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/USDCHF-DAILY-23072016-1024x480.png" alt="USDCHF DAILY 23072016" width="1024" height="480" /></a>

USD/JPY - Weekly Closing Price: 106.05

<u><a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/USDJPY-DAILY-23072016.png"><img class="aligncenter size-large wp-image-8189" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/USDJPY-DAILY-23072016-1024x480.png" alt="USDJPY DAILY 23072016" width="1024" height="480" /></a></u>

<u> </u>

<u> </u>

<u>MY CLOSING THOUGHTS:</u>

Uncertainty continues as we move into the summer months.

I am not expecting much from the FED this week; I think like everyone else they will blame the BREXIT for masterly inactivity.

Be very careful getting suckered into trades this summer, the liquidity is very thin, especially in the Asian session.

As usual…

Always remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.

Take care,

Scott Pickering
The Pip Accumulator

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DATE: 23rd July 2016
BLOG VERSION: #108 PREMIUM SERVICE VERSION