<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: Tuesday 12th October 2014
REF: #106</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
The USD bites back.

My core trades are starting to look as if they will return to positive and my RADAR trades from yesterday that triggered look good. Trades are still live, personally banked $$$ so very happy and I now have over +95 pips protected profits in place. I am looking to add on renewed USD strength later.

There is a lot of volatility, which is normal given the fact that we have now left a one sided market. We are now watching buyers/sellers fight for control at key levels. There are many inflection points dotted around and the fact that we have a “normal” (I hate saying that…maybe new normal market) in play, I think that the volatility will be here for a while until the winner of the bull/bear fight is declared. Right now, the bears have it; in my opinion.

As I said yesterday, we are now consolidating the pullback in the DXY. Today the key numbers, in my opinion to watch from a Forex perspective are: -

EUR/USD 1.2640 support

GBP/USD is in meltdown mode. 1.5880 is a big level, however, it has dropped over 150 pips so far today so be gentle…. wait for a pullback to enter is you are not already short

USD/JPY 106.50 support

USD/CAD resistance at 1.1275

AUD/USD support at 0.8650

NZD/USD support at 0.7800

<strong> </strong>
<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></span></li>
</ol>
<span style="font-size: 12pt;"><span style="font-size: 10pt;"> CNY: - CPi</span>.</span>
<strong> </strong>
<ol start="3">
	<li><span style="font-size: 12pt;"><strong> EXISTING LIVE TRADES:</strong></span></li>
</ol>
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<strong>RADAR TRADES:</strong>

RT186
EUR/USD
Short at 1.2715
Stop at 1.2699
Limit at 1.1860
Price Now: 1.2651
Current Profit / Loss Position: +64 pips

<strong>FLASH TRADES:</strong>

FT190
NZD/USD
Short at 0.7793
Stop at 0.8050
Limit at 0.6580
Price Now: 0.7862
Current Profit / Loss Position: -69 pips

FT191
AUD/USD
Short at 0.8709
Stop at 0.9100
Limit at 0.8000
Price Now: 0.8733
Current Profit / Loss Position: -24 pips<strong> </strong>

<strong>FUNDAMENTAL TRADES:</strong>

FUN44
GBP/NZD
Long at 2.0507
Stop at 2.0000
Limit at 2.3200
Price Now: 2.0233
Current Profit / Loss Position: -274 pips
(This trade is hedged from -125 pips)

FUN46
AUD/USD
Short at 0.8780
Stop at 0.8880
Limit at 0.8000
Price Now: 0.8733
Current Profit / Loss Position: +47 pips

FUN47
GBP/AUD
Long at 1.8300
Stop at 1.7500
Limit at 2.0650
Price Now: 1.8213
Current Profit / Loss Position: -87 pips
(This trade will be hedged from -100 pips)

<strong> </strong>
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
RT187
GBP/USD
Short at 1.5960
Stop at 1.6120
Limit at 1.5380

RT189
USD/CAD
Long at 1.1225
Stop at 1.1140
Limit at 1.1580

FUN45
NZD/USD
Short at 0.7930
Stop at 0.8080
Limit at 0.7000

FUN48
EUR/AUD
Long at 1.4400
Stop at 1.3980
Limit at 1.5870

FUN49
EUR/CAD
Long at 1.4175
Stop at 1.3850
Limit at 1.5600

FUN50
EUR/NZD
Long at 1.5990
Stop at 1.3850
Limit at 1.5600

<strong> </strong>
<ol start="5">
	<li><span style="font-size: 12pt;"><strong> FINAL THOUGHTS:</strong></span></li>
</ol>
Be very careful today. We are at many major levels and I am expecting major volatility.

I am not looking to add any trades.

Good luck today.

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

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