&nbsp;
<ol>
 	<li><strong> INTRODUCTION:</strong></li>
</ol>
Wow… what a crazy end to the week, as NFP misses. Only 38,000 new jobs added in May, way below the expectations of 160,000 and then to rub salt in the wounds, the April number of 160,000 was revised down to 123,000.

Make no mistake these are dreadful numbers when you look at the two months together.

The unemployment rate fell from 5.0% to 4.7%, due to the participation rate and average hourly earnings met the 0.2% gain that was expected.

I still ask myself why don’t the US employment office delay the numbers a week so that the market can have accurate data? All these estimates are crazy and the need for constant revisions are in my opinion bordering on an amateurish calculations seemingly being done on the back of a fag packet.

The April print was only 75% accurate. These month on month revisions are just so unprofessional. Come on, for God’s sake, if this was a private business HR would be sacked and heads would roll!

Taking my macro view, given the fact that up to now the U.S. jobs data has been really good and surprisingly consistent, I am looking at these numbers as a one off. But it also questions the validity of the in line ADP numbers the day before? That aside I doubt that June will be on the table for a rate hike, but given the quite HAWKISH comments by Janet Yellen a couple of Fridays ago in Harvard, I would say July could still be on the table. It does however place the FED in an awkward position. Please note I am by no means encouraging more damn dithering from Janet Yellen and her chaps.

The Chinese data is also questionable and for most of 2014, if you recall, the Canadian government had released bad jobs data that had errors running for months. This is 2016 not 1956, why can’t we have good clean accurate data? If I were a skeptical person I would say that grey numbers rather than black and white suit the politicians… Jesus… maybe I am skeptical after all!

Moving on…

From a trading perspective, May was a great month and THE PREMIUM SERVICE is ahead of target for the year 2016. When you consider that in February all gains were wiped out, due to power outages and no ISP for 2/3 days, I am absolutely delighted.

My leaping around the office has however been short-lived as on NFP I decided to stick with some open trades and albeit they are small positions, I am carrying a few loss trades at the moment. However, I added some extra trades at extremes after NFP so I am looking for these the come through next week.

As I have written over the past two weeks, we are entering a period of extreme volatility given the numbers of high profile events coming up on the calendar. Looking forward I see no reason why the chop fest should not continue. We are in a holding pattern like an A380 swooping around over the English countryside. Yellen speaks again on Monday this week; lets see what she says now following a bad NFP. I just think that until the FED plays its hand we will chop one way and then the other. We have BREXIT, we have GREECE, we have THE DONALD, CRAZY BERNIE and CROOKED HILLARY for a side show as well, but in my opinion it is the FED that holds the key to deliver a move and some stability.

Shifting gears…

FREE PREMIUM SERVICE subscriptions, just to remind you; 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 winner for June and July until my summer break (extended because of my tour) is:
<p style="text-align: center;">fredxxxxxx25@gmail.com</p>
The next draw will be early September when I return from my summer break.

My plans for the short tour of the UK and IRELAND (see chart below with itinerary) are almost complete. My power point software skills are being pushed to the limits, never mind the continual refining of the presentation content. British Airways will be challenged with the numbers of bags that will be presented to them at check-in!!

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/04/TOUR-DATES-2016.png"><img class="aligncenter size-full wp-image-7597" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/04/TOUR-DATES-2016.png" alt="TOUR DATES 2016" width="630" height="397" /></a>

&nbsp;

I hope to meet and greet many traders on this trip and I am really excited about the presentations that are scheduled. Please come along if you can and bring friends who you think may be interested in starting to trade the Forex market.

Spaces are limited so to register for an event, please go to my landing page on <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> and click on LIVE EVENTS. The drop down menu there has all the information that you will require, plus the email address to use to register at to reserve a space. I would place it here but I would end up getting thousand’s of SPAM emails, which I want to avoid.

Please note that because of the TOUR, copies of this blog will have a revised much shortened format on the following dates: -
<p style="text-align: center;">18<sup>th</sup> June 2016
25<sup>th</sup> June 2016
2<sup>nd</sup> July 2016</p>
<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;"><u>PREMIUM SERVICE PERFORMANCE THIS MONTH &amp; YEAR TO DATE:</u></p>
<p style="text-align: center;">
NET PIPS TO THE END OF MAY 2016:   +2,051
NET PIPS THIS YEAR SO FAR:                +5,865</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>
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.

<strong> </strong>
<ol start="3">
 	<li><strong> THE FX MARKET PLACE:</strong></li>
</ol>
<strong>LAST WEEK’S NEWS – MY THOUGHTS:</strong>

Last week I know, from a Forex perspective will revolve around the NFP data (already covered in the introduction) and I can completely understand those thoughts.

From my perspective though prior to the NFP data three news events stuck out for me.

Firstly, the AUD GDP; what a great number and the AUD/USD rallied well, the AUD/NZD looked like it was 1.0900 bound and then into and through the European session the AUD started to weaken and all gains were eroded and then some more. Obviously on the poor NFP numbers the AUD/USD has rallied back to highs once more but my underlying feeling is that we will see this pair once again head lower towards 0.7200. I feel it will break lower probably to 0.7050 and do not forget that the YTD lows are at 0.6825.

This coming week on Tuesday at 1230AM EST, Glenn Stevens (RBA Governor) is on the spot with a RBA statement. This will be a true indicator, or maybe just an opinion, on how the AUD economy is performing. Are we heading to 0.7200 or 0.7500 with the AUD/USD?

Secondly, Mario Draghi produced a non-event snooze fest for his ECB Press Conference last Thursday. For this result he deserves a good pack on the back. Mario basically stated it is a wait and see to let all the extraordinary measures make their way through the markets.

Rather surprisingly, I asked the question in my closing comments of last week’s blog would Draghi announce an “escape plan for the EUROZONE with regards to BREXIT”. I called it Plan P. Draghi stated that the EUROZONE had a plan should BREXIT happen. Do you believe him?

For me, I doubt it’s detailed, the meeting minutes page would have the heading June 23<sup>rd</sup> UK BREXIT; underneath written “Oh Feck”. That would be about it I think. Maybe a comment to ask Angela for more money!

I am still a believer in divergence and although I took just very small profits on a EUR/USD short fading the NFP move last Friday, I still believe that the EUR/USD is heading lower. I am looking to short again around 1.1400.

Draghi did what every central banker does, adjusted the GDP numbers and presented all attendees at his press conference with a crystal ball, and I do not mean the 3xCD Prince release, rather a prediction into the future about inflation objectives. All complete bulls**t, the best guestimate is now for 1.6% in 2018, no way close to the 2% target. We are all supposed to be really excited by this lack-luster number. Ewald Nowotny Austrian Central Bank governor and member of the ECB governing council, looked as if he was hiding a semi based upon how excited he appeared on CNBC talking about 1.6% being close to 2.0%. That could have just been the interviewer though!

Bottom line; the EUROZONE despite improving PMi’s is still patchy in recovery and frankly, it requires structural reforms rather than ECB policy to move the combined EUROZONE growth and inflation performances forward. Takeaway Germany and the EUROZONE economic performances look really poor.

Nevertheless, I am still bearish the EUR/USD.

Thirdly, we had a nonsense meeting with OPEC. These OPEC meetings nearly always under deliver on policy; OPEC is like the EUROZONE in the sense that collectively they can never agree on anything.

The oil industry as I have spoken about before is full of HIGH RISK market players. Hedge funds love oil because it is so speculative. Basically it’s a drill baby drill environment or at the moment a pump baby pump existence.

The oil price, as I see it around $50.00 for WTi is a price that would encourage more drillers back into the market. The eyes of GREED will be wide open at $50.00 a barrel; hence the price drops as over supply concerns are raised once again. I saw it earlier in the week but forgot to print out a copy of all the oil tankers waiting to unload Oil to refineries dotted around the globe.

The rig count was up by “9” on Friday last week. On the data print Oil was taken to the woodshed and given a good spanking.

There are still supply and demand issues surrounding the future oil price, this fact has NOT gone away and if more drillers re-enter the Oil market they will only exacerbate an already fragile price spike. Will we see WTi sub $40.00 again? Maybe, who knows, the facts are the oil market has real issues on supply and demand that producers are incapable of fixing because of GREED.

&nbsp;

<strong>WHAT’S BIG ON MY MIND:</strong>
<h3 style="text-align: center;"><strong>WHERE NEXT FOR THE USD?</strong></h3>
<em> </em>

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/DXY-WEEKLY-05062016.png"><img class="aligncenter size-large wp-image-8024" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/DXY-WEEKLY-05062016-1024x476.png" alt="DXY WEEKLY 05062016" width="1024" height="476" /></a>

<em> </em><em> </em>

The Weekly DXY chart refers.

As you can see from the chart what took about three weeks to go up took just one week, most of it in one day to give back.

When you look around the EUR/USD, USD/CHF, USD/JPY, AUD/USD and NZD/USD charts it is not hard for anyone even without FX experience to see and note that the moves on Friday last week were stellar.

I am a USD bull and I took a beating last week. My account is large enough and I am managing my risk through much smaller position sizes through the silly season, but I was not prepared for such a poor NFP number, I do not think that anyone saw that coming.

I posted rather humorously on twitter the night before a picture of my two Labradors with the comment saying “We are ready for NFP tomorrow are you?” I jokingly added…they have just as much of chance of getting the number right as I have. Well I got that right.

Moving forwards…

In last week’s blog, I wrote the second part to my NIGHTMARE SCENARIO looking at TRADING from a RISK perspective. I talked about the silly season, referring to the all the high profile events coming up in the near future and probable ending being the US Presidential Election in November.

I am NOT that good, I did not have a poor NFP number on my list. However, I am now pleased to announce that silly season has in fact started. This Monday sees the start of the annual vacation / holiday’s cycle, this means that liquidity starts to dry up in the Forex markets. Given that liquidity is less than it has been in previous years I am not sure how different it will be this year from a liquidity two way action perspective.

What I can say is that as we head into dealing with some big economic and geopolitical events, the added thrill of lower liquidity should spice things up a bit for us all.

Everything in Forex really revolves around the USD. No matter what pair you trade, at some point a relationship to the dollar can be established, whether this is through an associated commodity linked to the USD or through an associated FX pair that is correlated to the USD.

The most liquid pair in the currency menu, the EUR/USD has been trading in some very tight overnight ranges of late. It has not been uncommon over the past two/ three weeks to see 30-40 pip ATR’s. This lack of movement or chop fest within a tight range has its effect on other currency pairs. On Friday after NFP, in stark contrast to recent sessions the daily range with the EUR/USD was 215 pips, interestingly enough the daily ATR at this moment is 71 pips. Friday’s move was nearly 3 times the ATR.

During this period of low ATR’s, the USD index (DXY) had moved up slowly and in bite size chunks; that all came crashing down after NFP.

So where next for the USD?

I still believe in central bank divergence, I still believe in the process and effects of central bank divergent monetary policies. I may be the last trader alive that believes in this, but my colours are nailed to the mast, hypothetically speaking.

At this stage of 2016, I expected the divergent trade to be well established, but I have found myself being on hold waiting for the FED to act. By the end of 2016, I still see the DXY pushing 100.00 and maybe beyond. I still see the EUR/USD pushing well below 1.1000 challenging the 1.0500 level once again. It sounds ambitious but it can happen very easily.

So what are blockages to my macro / fundamental views happening?

I think that dithering Janet Yellen is on my side as she has stated that she will tighten policy and I fully expect her to deliver once before the summer and once before the U.S. election to give 0.75% minimum behind the clock to react to the presidential result should THE DONALD beat CROOKED HILLARY or CRAZY BERNIE.

It is the election that may place a “spanner / wrench in the works” as far as I am concerned. I so want to write about THE DONALD in some detail but I just don't think that I can add too much beyond that fact that he would be a bloody nightmare in my opinion. Not that I think CROOKED HILLARY will be much better. I think that CRAZY BERNIE is only in the race to collect Air Miles whilst he can.

The markets would go arseways should THE DONALD be elected, talk about uncertainty! Having said that the USD may strengthen significantly if THE DONALD was elected and converted the White House to TRUMP WASHINGTON. I just don't know if the USD weaken or strengthen with THE DONALD in situ? There are arguments, good ones for both ways.

Before the election, the FED will be tightening, and as a result the USD will move towards 100.00. This move will be spurred on by other central bank activity by countries still having to weaken their currencies to try and get the competitive edge. The RBA and RBNZ immediately come to mind plus the BOJ. Regular readers will know that I am also in the camp that the BOC will go very dovish soon. This opinion is supported by and exacerbated by the Fort McMurray wild fires close to the Alberta Oil sands. The SNB will continue its policy of negative rates, and, as we all know, it measures and artificially manages the EUR/CHF exchange rate right now even though it denies this. The UK has it’s own worries through BREXIT and although a while back Carney was advising the markets that the next move in cable interest rates would be up they could in fact move lower.

All of this central bank activity and monetary policy direction is supportive of claiming that central bank divergence is in place.

The USD will in my opinion over the coming sessions try to establish a base level above 92.00. Everyone knows the next big move is upwards it’s just a question of where it will base first.

I think we have some great long USD opportunities on the horizon playing the DXY to give us entries.

Like everything with Forex, we have to be patient and wait for the moves to come to us first.

<em> </em>
<ol start="4">
 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE AREA:</strong></li>
</ol>
<strong>THE PREMIUM SERVICE – TRADING REVIEW: </strong>

TRADING REVIEW:

Let me start by saying, May was a great month for trading. All categories of trade style were profitable, however, what really pleased me was that 931 pips were generated on FUNDAMENTAL TRADES, which is helping to clear the negative pip total for the year so far. At the end of May FUNDAMENTAL TRADES are now at only -706 pips for the year.

I still maintain that trading conditions are very difficult with tight ranges and very choppy moves within the ranges. Sadly, I see no change at all in this moving forward.

Whilst we continue to have dithering from the FED, the equity and Oil markets are controlling Forex price movements. This does make me a little uncomfortable. In the background we have the JPY. The USD/JPY is once again on the brink and the JPY could blow the FX market apart with a drop through 105.00.

Even with all the above, the PREMIUM SERVICE pip tally for the year so far is at 5,865 to the end of May.

In addition; 81% of all trade completed in May were profitable. Year to date this is 77%. The 2016 total pips generated to the end of May were 523 pips ahead of the May 31<sup>st</sup> 2015 total.

Looking forward, we have Yellen, Stevens, Draghi, Wheeler and Poloz all speaking this week. All we needed was Carney and we would be eligible for a free set of cut glass from your local Shell gas station. We should expect some directional news as a result of these speeches but I am not holding my breath, as I believe it’s all a waiting game to follow the FED, but you never know. The antipodean’s namely the RBA and RBNZ may surprise the market with a bazooka should they both cut rates.

I am continuing with my approach of smaller position sizes and wider stops across all trade styles.

When I set up POSITION TRADES, I take much longer-term views with wider stops, based upon not just weekly ATR’s but in many cases monthly ATR’s. The multiple positions that I had hoped would evolve, just haven’t as yet, as the market has not allowed this on the terms that I want.

Having wider stops with FUNDAMENTAL TRADES is a little weird although last year pre POSITION TRADES these trades were traded more with cross rate pairs and wider stops were the order of the day. It is managing the TRADE SIZE, which is crucial to the success of these, and the RADAR TRADES. I think it will be after the US election when I revert back to normal with POSITION SIZES.

As I have stated on so many occasions in blogs and have dotted about the website in various locations, it is all about MANAGING RISK. The drawdowns can be larger than usual but the smaller POSITION SIZES give you greater enhanced trade flexibility, which frankly I think at the moment is a pre-requisite for trading Forex effectively to give you longevity.

Like I said last week, we are in the silly season and we have to recognize the changes and adapt.

&nbsp;

NON-FARM PAYROLL (NFP):

I had a few conversations / chats with a couple of subscribers prior to and after NFP with regards to my PLAN A and PLAN B.

Basically PLAN A was to react to continued USD strength and PLAN B was to react to a weaker number… with reference to a couple of trades I wish that I had a PLAN C!!

One thing that can always be counted on is that I will always have a PLAN or STRATEGY as I am approaching the market, whether the said STRATEGY works out the way it was intended is always debatable.

My goal through PLAN B was to let existing LIMIT/STOP ORDERS trigger if prices reached their entry levels, plus the second goal was to add additional trades to existing positions at key Fibonacci / pivot points looking for moves back in the trend.

The weakness in the USD after NFP was as usual in Forex totally unforgiving and I think these “wash out” moves as I sometimes refer to them as are healthy for the markets overall but maybe not for individual traders. When I say healthy, I mean from a re-balancing of positions perspective. Having said that, it was a cruel day for a great number of traders. I know of a few buddies who are holding huge long USD/CAD and USD/CHF trades at the moment. They have very twitchy bottoms.

As you know, I was very busy moving stops to protect trades after the NFP release. There are certain pairs that I want to maintain a position with<strong>,</strong> either long or short and I want to add further trades (as mentioned above) in line with my overall fundamental /macro thoughts.

Looking specifically at the trades that are now open moving into next week, here are my immediate thoughts: -

POS033 (EUR/GBP): see the comments below for FUN363.

POS035 (AUD/USD): Unless we see a pullback in Asia I fear the 0.7400 stop will be at risk. On the Daily chart we have a 38% retracement at 0.7406. This looks like a re-test of this level and there will be a stop run at this level being just over a psychological round number. The entry on this pair was back at 0.7200 and whilst it is a longer-term trade, I do not want to go much further as we have the RBA in the small hours (for me) on Tuesday morning. My thoughts are to elevate the stop to 0.7460.

POS036 (USD/CHF): This stop may have to go to 0.9620-40. My thought process at the moment is to add another position as close to the lows as well as another FUNDAMENTAL long trade. This all depends on the EUR/USD, which squeezed on very low liquidity into the close last Friday.

FT699 (NZD/USD): The RBNZ meets during the week and I am 50-50 on whether the proposed cut in interest rates will happen. If I were to move this stop it would be a 0.7060 move to place it above the recent trend highs. We have the 76.4% Fibonacci resistance at current levels of 0.6964. This may hold; my thoughts that the NZD is way over-valued are irrelevant but I would hate to give up such a great price level entry. My thoughts are; I may take a small loss on this trade and look to re-enter above 0.7000. I have FUN362 to consider in my options as well.

FUN362 (NZD/USD): I may have to move the stop above recent trend highs of 0.7054. This trade has annoyed me from the outset. It has not acted well at all, very frustrating. This trade has only a 25% position size on a already reduced position sizing plan that I have in place (see previous blogs) so on normal parameters it’s only about a 10% sized trade at the moment

FUN363 (EUR/GBP): I am in three minds with this pair. BREXIT POLLS over the weekend and Sunday papers in the UK will drive this pair’s direction more than anything. It may have one last move to 0.7930, which is just beyond strong horizontal resistance.

FUN365 (USD/CHF): see POS036 for thoughts and action plan.

&nbsp;

<strong>CHARTS THAT ARE ATTRACTING MY INTEREST:</strong>

I am not looking at charts until Monday evening after the close of the North American session. I am NOT interested in entering any new trades until NFP has worked its way through all markets 100%.

If there were no BREXIT I would be looking to get long GBP/CHF. I am looking and may be tempted with a small long position. But at the moment the daily EUR/GBP green candle scares the crap out of me.

<strong> </strong>

<strong> </strong>

<strong>TRADES REVIEW:</strong>

As requested by a few of you I have re-instated the trade by trade excel summary sheets.

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

<strong> <a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/LIVE-TRADES-05062016.png"><img class="aligncenter size-full wp-image-8023" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/LIVE-TRADES-05062016.png" alt="LIVE TRADES 05062016" width="801" height="585" /></a></strong>

<strong> </strong>

<strong> </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).

SUNDAY: N/A.

MONDAY: USD – Janet Yellen (FED) speaks.

TUESDAY: AUD – RBA Rate Statement.
TUESDAY: CNY – Trade Balance.

WEDNESDAY: NZD – RBNZ Statement, Press Conference &amp; Wheeler speaks.

THURSDAY: EUR – Mario Draghi (ECB) speaks.
THURSDAY: CAD – Stephen Poloz (BOC) speaks.

FRIDAY: CAD – Employment Data.
<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: 1.1366

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/EURUSD-D-05062016.png"><img class="aligncenter size-large wp-image-8026" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/EURUSD-D-05062016-1024x481.png" alt="EURUSD D 05062016" width="1024" height="481" /></a>

GBP/USD - Weekly Closing Price: 1.4510

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/GBPUSD-D-05062016.png"><img class="aligncenter size-large wp-image-8027" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/GBPUSD-D-05062016-1024x481.png" alt="GBPUSD D 05062016" width="1024" height="481" /></a>

AUD/USD - Weekly Closing Price: 0.7365

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/AUDUSD-D-05062016.png"><img class="aligncenter size-large wp-image-8025" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/AUDUSD-D-05062016-1024x481.png" alt="AUDUSD D 05062016" width="1024" height="481" /></a>

NZD/USD - Weekly Closing Price: 0.6953

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/NZDUSD-D-05062016.png"><img class="aligncenter size-large wp-image-8028" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/NZDUSD-D-05062016-1024x481.png" alt="NZDUSD D 05062016" width="1024" height="481" /></a>

USD/CAD - Weekly Closing Price: 1.2935

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/USDCAD-D-05062016.png"><img class="aligncenter size-large wp-image-8029" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/USDCAD-D-05062016-1024x481.png" alt="USDCAD D 05062016" width="1024" height="481" /></a>

USD/CHF - Weekly Closing Price: 0.9752

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/USDCHF-D-05062016.png"><img class="aligncenter size-large wp-image-8030" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/06/USDCHF-D-05062016-1024x481.png" alt="USDCHF D 05062016" width="1024" height="481" /></a>

USD/JPY - Weekly Closing Price: 106.53

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<u>MY CLOSING THOUGHTS:</u>

It's all about central banks again this week.

The RBA and RBNZ have interest rate decisions and accompanying rate statements. Graeme Wheeler has a press conference; so for those readers who find it hard to sleep, just log in and watch. Holy Mother of God snooze fest city, it is true accountancy at work.

We also have Janet Yellen (FED), Mario Draghi (ECB) and Stephen Poloz (BOC) unleashing their words of wisdom on the markets this week.

I am expecting something from all of the above, but I am not holding my breath. Of late I have witnessed great disappointment in central bank speak, I am now fully in the camp that nothing major will happen for fear that the FED will undermine local activity. I cannot see the FED moving on rates until at least July unless Yellen has another dithering bout once again.

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

<a href="http://weeklyfxdrivethru.com/disclaimer/">http://weeklyfxdrivethru.com/disclaimer/</a>

DATE: 4<sup>th</sup> June 2016
BLOG VERSION: #105 PREMIUM SERVICE VERSION

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