<strong><span style="font-size: 14pt;">THE DAILY FX POST</span>
<span style="font-size: 14pt;"> from</span>
<span style="font-size: 14pt;"> THE PREMIUM SERVICE</span>

</strong>

<strong>DATE: Thursday 20th November 2014
REF: #130</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
Yesterday was a typical FOMC/FED minute’s day.

The instantaneous market reaction was to move one-way then after the knee-jerk, the markets took traders in the other direction…. I think that moving forward after over 7 years of trading I am going to really not trade some of these events. Many of you were on email yesterday complaining of bad fills, poor judgment, on the basis of why put your self through it etc.

Maybe FOMC / FED, NFP and ECB announcements are just one trade too far. The volatility is good but at times I do ask myself it could be viewed as short-term gambling.

The markets reaction and the continued fallout tells me that U.S. traders want to be spoon fed like children. They want the date, time and place of the FED rate hike.

If only Greenspan was still at the FED and Trichet at the ECB, there would be bugger all transparency as we have grown accustomed to today. Central Bank chiefs are way over accommodative to the markets in the name of stability in my opinion and now the markets are on the front foot using uncertainty as a tool to drive more supportive measures and increased transparency.

Having read most of the FOMC minutes they were not as HAWKISH as I thought that they might have been, in fact they were quite DOVISH. A complete opposite from the BOE, I was expecting DOVISH and we saw HAWKISH.

I hate to write this but I think that we are range bound once again.

The EUR/USD holds the key and to me after weaker PMi data from the EUROZONE earlier today, I expected a drop through 1.2500 looking lower, in fact we are stuck in the middle. 1.2500 to 1.2580/1.2600.

When the EUROZONE PMi data was released, I had a lot of nice green numbers across my brokers, a couple of hours later the green was wiped and now as I type it looks like its starting to come back again. This suggests to me that any dips in the USD (DXY) are being bought. I may be wrong… but that's what I think at the moment reviewing what has been happening.

I think that we therefore have to be prepared for range bound activity for the next few sessions.

I am still a believer that there will be a breakout in the DXY but I may have to sit in trades for a day or two to see the benefit.

Its back to being patient again…. I think.

There are a few buy on dips trades that I am looking at, primarily the GBP/NZD but I need to what happens today with the usual RISK ON / RISK OFF scenario.

<strong> </strong>
<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>
</ol>
USD: - Core CPi.
EUR: - Draghi speaks.
<strong> </strong>
<ol start="3">
	<li><span style="font-size: 12pt;"><strong> EXISTING LIVE TRADES:</strong></span></li>
</ol>
<strong>RADAR TRADES:</strong>

RT216
USD/CHF
Long at 0.9630
Stop at 0.9500
Limit at 0.9750
Price now 0.9580
Current Profit / Loss Position -50 pips

<strong>FLASH TRADES:</strong><strong> </strong>

FT230
EUR/CHF
Long at 1.2040
Stop at 1.1920
Limit at 1.2500
Price now 1.2011
Current Profit / Loss Position -29 pips

<strong>FUNDAMENTAL TRADES:</strong>

FUN67
EUR/USD
Short at 1.2510
Stop at 1.2640
Limit at 1.2100 then to 1.1860
Price now 1.2540
Current Profit / Loss Position -30 pips

<strong> </strong>
<ol start="4">
	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>
</ol>
RT219
EUR/NZD
Long at 1.5930
Stop at 1.5750
Limit at 1.6440

FUN68
AUD/USD
Short at 0.8670
Stop at 0.8750
Limit at 0.8000

FUN70
NZD/USD
Short at 0.7880
Stop at 0.7960
Limit at 0.7000

&nbsp;

Good luck today.

Scott Pickering
The Pip Accumulator
<a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>
Twitter: @ThePremService
Email: premiumservice@weeklyfxdrivethru.com

<strong>DISCLAIMER:</strong>

FLASH, 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.