<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: Monday 8th September 2014
REF: #83</strong>
<ol>
	<li><strong> OVERVIEW – INITIAL THOUGHTS:</strong></li>
</ol>
As I mentioned in the WEEKLY FX DRIVE THRU over the weekend there were high risks involved in trading the GBP. It is amazing that a poll of about 1,000 people on their voting intentions at the upcoming Scottish Independence referendum could drive the GBP/USD lower more than 220 pips

Apart from GBP related pairs nothing else much appears to have moved much. It is going to be a highly sensitive currency moving forward and as the vote is about two weeks ago I think that we will see increased volatility both ways up the votes are cast. If you want risk, this is your pair to trade. Personally, I think that I could be tempted selling into rallies but with very tight stops because of the risks associated.

At the moment the commodity currencies are trading quite heavy and are approaching key levels. The support levels that interest me are: -

AUD/USD: 0.9300

NZD/USD: 0.8270

Resistance with the USD/CAD is at 1.0950.

The EUR/USD seems to be consolidating and as usual my eyes will remain on this pair to lead.

Those of you who love to trade the USD/JPY; it is quite strong today around 105.20. Remember 105.50 and then 105.70 are key resistance levels.

<strong> </strong>
<ol start="2">
	<li><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></li>
</ol>
AUD: - NAB Business Confidence
<ol start="3">
	<li><strong> EXISTING LIVE TRADES:</strong></li>
</ol>
FT166
EUR/USD
Short
Entry at: 1.2979
Stop at: 1.3030
Limit at: 1.2760
Present Price: 1.2948
Current Profit / Loss Position: +31 pips

FT167
USD/CAD
Long
Entry at: 1.0882
Stop at: 1.0856
Limit at: 1.0990
Present Position: 1.0912
Current Profit / Loss Position +30 pips

FUN14
GBP/NZD
Long
Entry at: 1.9800
Stop at: 1.9000
Limit at: 2.2350
Present Price: 1.9433
Current Profit / Loss Position: -367 pips
(My hedge trade is back in play)<strong> </strong>

<strong> </strong>
<ol start="4">
	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>
</ol>
RT143
AUD/NZD
Long at 1.1180
Stop at 1.1020
Limit at 1.1550

RT146
AUD/USD
Short at 0.9500
Stop at 0.9580
Limit at 0.9210

RT147
NZD/USD
Short at 0.8350
Stop at 0.8420
Limit at 0.8150

RT149
USD/CHF
Long at 0.9180
Stop at 0.9140
Limit at 0.9580

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<ol start="5">
	<li><strong> FINAL THOUGHTS:</strong><strong> </strong></li>
</ol>
Be careful if you are trading the GBP pairs today. There will be plenty of politicians on the street all day looking to play down the poll indicators.

Not too much else out there today we will be moved by equities I think.

Good Luck.

<strong> </strong>
<ol start="6">
	<li><strong> DISCLAIMER:</strong></li>
</ol>
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 foreign exchange 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 foreign exchange trading and seek advice from an independent financial advisor if necessary.

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

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