(5464,1,'2015-03-08 05:33:41','2015-03-08 10:33:41','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 08.03.2015\r\nREFERENCE: #142\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe title of my main article for the blog last week was:\r\n\r\n<strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong>\r\n\r\nWell, quite a good title...  as the DXY roadshow rolled onwards and upwards once again.\r\n\r\nAfter NFP we hit just below 98.00. The big 100.00 is next. As with all things that relate to the markets the big round numbers may beckon and it may appear from longer-term charts that there is a Star Trek “tractor beam” sucking the currency pair or whatever towards the objective, but as soon as you go into smaller minute charts you can see the conflict between buyers and sellers as the big number and stop loss runs approach. Will the DXY 100.00 be the same? I have no reason to doubt that it will not. If you look at the chart below, you can see that the move higher, has been swift followed by consolidation, then a swift move again, followed by another period of consolidation.\r\n\r\nIn my opinion, I think we will get close, then consolidate, and then, make one or two runs before passing by 100.00. Lets face facts the USD is well overbought and we need to see maybe a small pullback / consolidation before moving higher.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015.png\"><img class=\"aligncenter size-large wp-image-5427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015-1024x445.png\" alt=\"DXY 08032015\" width=\"1024\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n100.00 on the DXY, in my eyes, places the EUR/USD below 1.0750, possibly closer to 1.0650. It is only horizontal support, but it was a level previously (see the chart below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015.png\"><img class=\"aligncenter size-large wp-image-5437\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015-1024x517.png\" alt=\"EURUSD MONTHLY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nIn last week’s blog I also posted a suggestion of pairs to trade simply based upon Central Bank divergences. Had you blindly just taken these trades at the open on last Sunday through to last week’s close on Friday night the trading result is below: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\"><img class=\"aligncenter size-full wp-image-5428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\" alt=\"CENTRAL BANK DIVERGENCES 08032015\" width=\"415\" height=\"323\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe chart above is what makes Forex trading so rewarding / frustrating / annoying / satisfying etc… see below.\r\n\r\nFUNDAMENTALLY, following recent Central Bank policy confirmation or changes in monetary policy these trades should have all worked. One can argue placing a commodity cross-rate pair in the original list was a little contentious, but it still should have worked given the differences in Central Bank policies between the BOE and RBA.\r\n\r\nHowever, Forex Trading also allows for oddball moments. The Cable (GBP) is also in a period of uncertainty with elections on the horizon and with its proximity to the EUROZONE (its major trading partner), we saw it drop in sympathy when the single currency came under pressure with relentless selling. Plus, we have to consider the EUR/GBP, the “richest” currency pair to trade from a $$$ perspective. The EUR/GBP is like the EUR/JPY both of these pairs are more of a major currency than the USD/CAD or NZD/USD looking from a volume / liquidity perspective. The cross-rate effects of the EUR/GBP would also weigh on the GBP in general. This would override movements in the GBP/AUD and basically due to the fact that it is a lower liquidity pair it just did its own thing. This pair is usually more associated with a “RISK OFF “ and therefore one would have expected a sell-off after NFP, given that the AUD/USD sold off… it didn’t happen. I think it just fell into the general selling of cable across the board.\r\n\r\nWith regards to the table and the “PIP” opportunities: -\r\n\r\nThe PREMIUM SERVICE went to town on the USD/CHF there is a core position still in play with over 220 pips profit available. This is after having taken lots of pips and banking $$$ through multiple trades along the way for basically the last two weeks or so.\r\n\r\nSome $$$ was also taken from the EUR/USD, but I was pre-occupied believing a bounce was soon to happen given the oversold conditions so for the most times I stayed away. The AUD/USD featured only a couple of times over the past week. With reference to the GBP/AUD the PREMIUM SERVICE is still long with a hedged position in place to minimize RISK.\r\n\r\nMoving on…\r\n\r\nOver the past week we saw the RBA keep interest rates on hold (buggers!), I was looking for them to cut (buggers!).\r\n\r\nThe BOC also kept rates on hold and the CAD strengthened like crazy (buggers!).\r\n\r\nThe ECB press conference saw Mario Draghi announce that from tomorrow March 9<sup>th</sup> 2015, the ECB would start its QE bond-buying program. The comments from Draghi confirmed that it would be an open-ended program if required and that the ECB would purchase negative interest rate bonds as well. These two pieces of news sent the EUR/USD below 1.1000.\r\n\r\nOn Friday, we had Non Farm Payrolls from the U.S. – yet another batch of great numbers. The equity markets sold off on the release as the noises to raise interest rates in the U.S. before the summer this year increased in volume.\r\n\r\nIn my opinion, the Central Bank divergence trade (talked about above) is even more obvious to me. If you are not yet long the USD, it is best to wait a while for a pullback in the DXY. Let it consolidate first to allow you to buy at better prices. Patience is what is required and I think that we need to test recent breakout levels in the DXY to get great entry trades to go long the USD.\r\n\r\nI haven’t mentioned GREECE yet. I think that the four-month loan extension took GREECE off the front page for a few days, however…. There is a EUROGROUP meeting with GREEK officials tomorrow (Monday 9<sup>th</sup> March), and, apparently, Tsipras asked to meet Junker privately ahead of the meeting. Junker allegedly refused the meeting. Therefore, be ready for quotes and sound-bytes from tomorrow onwards.\r\n\r\nAs I have written for the past two weeks the EUROGROUP v GREECE … IT’S NOT OVER YET. There will be more and more talk in line with the mandate that the Greek government was elected on. The average citizen of Greece couldn’t give a crap about what Schaeuble or Merkel says … they are Germans. The GREEK government was elected on a mandate of a better deal with Brussels / Berlin / Frankfurt. If they do not fulfill this mandate, they are out. They are politicians for God’s sake.\r\n\r\nIn my opinion this has NOT EVEN STARTED!!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<em>PLEASE NOTE:</em>\r\n\r\n<em>(I am NOT going to fill this section of the blog with charts; there are for PREMIUM SERVICE subscribers a further 8 charts of trade opportunities in their extended version of the blog which if you were to print a hard copy would generate over 35 pages when you include all the other exclusive content).</em>\r\n<h3 style=\"text-align: center;\"><strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong></h3>\r\nThe title of this week’s main article may confuse a few readers, maybe a lot, I don’t know, given that for the past who knows how long I have been banging on about the strength of the USD.\r\n\r\nTake it from me I have given enough easy money to brokers over the past seven / eight years and now is not the time to jump in blindly or with your eyes open.\r\n\r\nWhy would I say this?\r\n\r\nWe have just completed a week were the DXY has exploded higher basically on the back of the reality of the ECB quantitative easing (QE) starting from tomorrow.\r\n\r\nWe received the detail from Draghi on several issues that the markets wanted; commencement date, buying bonds with negative yield, no firm deadline of program, and delay on GREECE being part of the program plus the “Walt Disney” moment of the Mickey Mouse economic forecasts that the ECB loves to provide and then revise the knickers off them as we move forward. (It reminds me of the Mervyn King ex. BOE governor whose inflation forecasts were never achieved and he kept making excuses for this for his entire tenure at the BOE. The process is still alive and carries on with Draghi…. !)\r\n\r\nIn addition, the explosive move higher was in no small part due to the USD NFP Jobs data, absolutely incredible numbers…. (If only, Frank Underwood could achieve this with his “America Works” initiative).\r\n\r\nWe have moved to be within touching distance of the triple digit 100.00 level. As mentioned previously, “the algo” traders and systems will not require Viagra this weekend as they assess the potential opportunities that lay ahead.\r\n\r\nIt all sounds nicely bullish doesn’t it… it is nicely bullish. But this does not mean that as traders we have a Stevie Wonder moment.\r\n\r\nThink….\r\n\r\nMassive moves in all the USD majors… previous ranges blown apart…. Equities coming off tops as the realization has finally sunk in with equity traders that interest rates in the U.S. will be going up and personally, I would not rule out one 0.25% increase in June prior to the summer break.\r\n<ul>\r\n	<li>Commodity prices are dumping GOLD, OIL, COPPER, and IRON ORE.</li>\r\n	<li>China is consistently buying fewer commodities and lowering growth projections because they are manufacturing less; it is a fecking slowdown.</li>\r\n	<li>The BOJ is heavily rumoured to be stopping its QE program.</li>\r\n	<li>Central Bank divergences – it is a race to the bottom.</li>\r\n</ul>\r\nDEFLATION is an issue it’s not just in the EUROZONE where 17 out of the 19 single currency users have DEFLATION. It’s widespread throughout the world, and our “ROCK GOD’S” aka Central Bank Presidents or Governors do NOT know how to fight it.\r\n\r\nIt is all USD positive…\r\n\r\nYou need pullbacks to enter and they could be up to 200 pips away from current prices depending on what currency pair you are looking at.\r\n\r\nLets look at the closes this week compared to last week: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\"><img class=\"aligncenter size-full wp-image-5449\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\" alt=\"USD MAJOR CLOSING PRICE COMPARED 08032015\" width=\"388\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs you can see from the chart above a simple USD long of a single lot trade across all the USD majors would have generated 1,606 pips. Even with a lot of Central Bank speak sometimes against the FED, the USD won through.\r\n\r\nThese moves show who is King… if you take nothing else away from this blog take that alone.\r\n\r\nThese moves will continue. But they cannot, or, rather should not be just a relentless one-way move. There are always external factors away from the USD to consider.\r\n\r\nJust ignore targets in the EUR/USD, GBP/USD and the other pairs and focus on the DXY 100.00 level. You can virtually take it as read that the key levels / targets will co-ordinate as they approach.\r\n\r\nVolatility will be high as we approach key levels. Index and currency traders will know the levels that they have targeted but the bug banks will have huge barriers in place to try and move the markets the way they want it. As retail traders our jobs are to come in on the coat tails of these moves and look at the probabilities of the potential moves ahead.\r\n\r\nI am a USD bull and have been for many, many months (check the previous posts).\r\n\r\nTo be long the USD is in my opinion the only Forex trade right now that makes clear sense, and you could jump on board now but you may require deep pockets to hold onto loss making trades through what should be an inevitable consolidation period with potential for some deep pullbacks, as I said before the USD is overbought.\r\n\r\nMy job now for my subscribers is to suggest pullback entry levels to get long the USD with entry-level trades to enter the major pairs. This process will be outlined later in this blog.\r\n\r\nFor non-subscribers, be patient and do not go all in on the back of the media coverage of the strong USD, which will be hitting CNBC and BLOOMBERG with an even greater intensity next week.\r\n\r\nFridays NFP was a blow to equity market traders, who are having their period of easy money making being pulled from under them.\r\n\r\nThe USD has been a sleeper for 30+ years, more than a generation… No-one trading on Wall Street has seen anything like this before. Every DOW and nearly all the S&amp;P companies keep talking about currency headwinds being an issue. When they were being spoon-fed it was never a tailwind supporting them. This is no surprise, it has been coming for months, it just shows how poor a stock of CEO’s, and CFO’s are running businesses that they do not have the ability to forward plan. All I hear are excuses not solutions.\r\n\r\nWe are entering unchartered territory; we need to buy at the best prices we can to maximize the most of the potential moves ahead.\r\n\r\nPersonally, I will trade from a core position and add subsequent positions to take on-going day trade $$$ profits from. This is a motivational way to trade as your broker account gets $$$ and at the same time the core trade stops are being revised to protect $$$.\r\n\r\nThe last time that I was able to trade like this was believe it or not during parts of the financial crash all those years ago…fádo, fádo, (long long ago).\r\n\r\nAs always do not have “A rush of blood to the head” as Chris Martin would sing, set your entries MAKE A PLAN and TRADE YOUR PLAN.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – CHANGES IN SUBSCRIPTION VARIABLES (INCLUDING COMMUNICATION OPTIONS AND PRICING / COSTS):</span>\r\n\r\nIf you recall, towards the end of 2014, I blogged about possible, potential changes for the PREMIUM SERVICE in 2015. I had several website options, in particular, that I did not complete. The main reason that I have held off is related to deciding upon what to do regarding space issues.\r\n\r\nLooking into possible changes / improvements, believe it or not sparked the wider ranging review to explore the possible paths forward looking ahead 2/3 years.\r\n\r\nOne of the things I decided to do to help me in my decision process about how things should look moving forward was to look at competitors.\r\n\r\nSo over the past two / three weeks, I have had research carried out on lead based Forex service providers. This turned out to be just a starting point. The research became much wider embracing many aspects of what I currently do, what I had hoped to do in future and much, much more.\r\n\r\nMy GOD….\r\n\r\nThe volumes of information, the number of companies / individuals involved… the pricing… what you receive for your subscription etc. is so varied, so complex to categorize at times that it is proving to be an enormous exercise\r\n\r\nReviewing my options about how I move forward is not just about cost. This is also about my own personal work / life balance. I am presently living in Canada and living / trading European and North American sessions and being around for early Asian sessions as well…. that\'s about 18 hours a day!! I love it, I really love trading Forex and being close to my screens when news breaks or currency pairs move wildly but it’s plain crazy, and, with technology and other alternatives I want to streamline several “Front of the house and backroom” functions.\r\n\r\nThe process moving forward involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nThe list is wider and very interesting, if I was still in the corporate world, but I have been reducing the categories…I am me - NOT Goldman Sachs or Citi.\r\n\r\nPersonally, I do not want to over-complicate “ subscriptions” by having various levels of subscribers. I prefer the “all-in” approach, but changes will be happening across the board. But nothing is off limits.\r\n\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Watch this space for updates.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week I made the decision based upon the lack of inter-market and inter-currency correlations and what I saw as unreal market divergences to close off all bar one of the commodity cross rate pairs. The EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD and EUR/CAD were all closed. Whilst I had all of these trades hedged I still posted a 720 pips loss for those 5 trades. The GBP/CAD I retained as I felt that this pair offered the best bullish overall pattern.\r\n\r\nThe day after I closed the trades correlations and divergences returned back to almost normal in my opinion and of course the trades started to bottom out. After NFP they had all recovered quite a margin off their lows. Last week’s NFP was probably the easiest one to trade for some time; it really was directional and most of the time relentless.\r\n\r\nDo not panic if you did not fully participate in NFP (I didn’t either), I have a mixed performance on NFP and the Monday / Tuesday after and I have now made it a policy to trade extremely light around these days.\r\n\r\nHowever: -\r\n<ul>\r\n	<li>There will be pullbacks if you missed the big moves.</li>\r\n	<li>This is Forex levels are always tested.</li>\r\n	<li>It’s all about looking at charts trying to figure out what are the key levels.</li>\r\n	<li>There are always ‘High Probability” trades after NFP.</li>\r\n	<li>It’s all about patience. Forex is a long distance marathon not a 100-metre dash.</li>\r\n	<li>Measure your performance by the month, quarters if you take longer-term views.</li>\r\n</ul>\r\nTaking a step back…\r\n\r\nTrading this week was generally good; I re-cooped all of the 720-pip loss referred to above. I have posted 614 pips on closed trades, plus I have a good number of pips in trades that have been carried forward from last week into this week. Barring a crisis at the open later today, all things are positive looking forward into next week.\r\n\r\nMy comments from last week regarding my RADAR TRADE set-ups have not been followed through with yet. Only two RADAR TRADES were completed last week, both profitable. Unfortunately this is not a number from which to draw conclusions from.\r\n\r\nLast week there were 6 new trades that closed and all were profitable. Happy Days. However, when you add the 5 x FUNDAMENTAL commodity cross-rate trades, these were the only losing trades to close during last week the $$$$ return from the PREMIUM SERVICE trades year to date reduced by $1,060.00. I am delighted though, to have generated over 600 closed pips in the week to offset the 720 that were lost on the commodity cross rate trades.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\"><img class=\"aligncenter size-full wp-image-5418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\" alt=\"PROFIT-LOSS RATIO 08032015\" width=\"403\" height=\"583\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\"><img class=\"aligncenter size-full wp-image-5419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\" alt=\"RISK-REWARD 08032015\" width=\"440\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\"><img class=\"aligncenter size-full wp-image-5420\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\" alt=\"PREM SERV PROFITS1 08032015\" width=\"462\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\"><img class=\"aligncenter size-full wp-image-5421\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\" alt=\"PREM SERV PROFITS2 08032015\" width=\"467\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi and Trade Balance.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: NZD – RBNZ Cash Rate, Policy Statement &amp; Press Conference.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: USD – Core Retail Sales.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nChinese CPI and Trade Balance, CAD and AUD Employment Data plus U.S. Core Retail sales are on the agenda for news items this week, but the pick of the events has to be the RBNZ interest rate announcement, statement and press conference.\r\n\r\nI recall writing a few weeks ago that I believed that a trending market would return soon. I still believe that it will but I really hope that we do not have to wait until the Fed raises interest rates before we see it. The USD strength story will no doubt dominate the likes of CNBC and Bloomberg TV and the fact that a big 100.00 number looms you can imagine that they will soon start to talk about it more.\r\n\r\nAs we edge closer to 100.00 on the DXY, I fear that we will reach yet another period of chop, chop, chop in the market as buyers and sellers battle it out for supremacy. This period of consolidation may be painful to trade and may last for a week or so looking back at previous sideways moves in the DXY.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','DON\'T GET SUCKERED INTO USD LONG TRADES NOW','','inherit','open','closed','','5462-revision-v1','','','2015-03-08 05:33:41','2015-03-08 10:33:41','',5462,'https://weeklyfxdrivethru.com/5462-revision-v1/',0,'revision','',0),(5494,1,'2015-03-14 13:17:16','2015-03-14 18:17:16','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.03.2015\r\nREFERENCE: #51\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">1.1 LOOKING BACKWARD, FORWARD &amp; SIDEWAYS AT THE FX MARKET:</span>\r\n\r\nLooking backward…\r\n\r\nMy main title of the blog last week following the huge moves in the USD was,\r\n\r\n<strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong>\r\n\r\nwell…I got that wrong. The DXY powered onwards and upwards to touch the big triple digit 100.00 and then pulled back. Since that day, we have really just bounced around and range traded.\r\n\r\nWe saw very big moves lower with the cable and on Friday last week the EUR/USD broke below 1.0500. The GBP/USD broke recent lows sub 1.4777 to test 1.4700 and the EUR/USD dropped and took stops below 1.0500. I think that as we have an FOMC statement and the fact that Janet Yellen has a press conference this week to some extent the markets were adjusting positions, squaring off ahead and in anticipation of what the FOMC statement will be. The key of course is whether the word PATIENT is or is not included in the press release.\r\n\r\nThe power of the USD I believe has taken a lot of people by surprise. Most pundits / experts on TV have never seen the USD flex it’s muscles. It has always been generally weak and kept in its box. It has been and continues to defy gravity by some explosive upward moves. I still believe that we should see some consolidation. How high will it go? Potentially up to 125.00. It sounds crazy but with Central Bank divergence between the FED and ECB it is possible. This places the EUR/USD below parity around 0.9000. Yesterday, Goldman Sachs released 2015 and 2016 currency targets for the EUR/USD – they are quoting 0.9000 and 0.8600 as potential targets. Who knows? … watch this space.\r\n\r\nMy mate, Graeme Wheeler (RBNZ Governor), held rates at 3.50% and gave the usual two-sided Press Conference; balancing comments between DOVISH and HAWKISH, just to keep you guessing. My thoughts were more DOVISH, so I shorted the NZD/USD and posted a 48 pip loss. We actually had quite a substantial rally off the lows, of about 250 pips in total, before starting to fall back again in line with USD strength.\r\n\r\nLooking forward….\r\n\r\nThe big news in the past 5 days of trading was the USD (DXY). This makes for a very interesting FOMC day on Wednesday. I will be out of all USD related trades well before the statement is released and unless you are a gambler of the high-stakes tables at Las Vegas I suggest you clear your USD related trades.\r\n\r\nMy approach to Forex is based on a lower risk assessment of each trade. I learnt a long time ago that FX could be a 50-50 gamble on direction. I admit those odds appeal to gamblers, but longevity in trading is what FX is all about and the “Slow and Steady wins the race” approach will always win out.\r\n\r\nMr. Jordan (Thomas Jordan) Governor of the SNB also takes to the stage this week with SNB Libor and a rate/Policy statement. I have to use Mr. for the SNB Governor as following the PEG removal of the EUR/CHF earlier this year, that move has elevated him to the history books…mucho $$$$$$ lost around the world a little profit here and there and thousands of jobs lost as a result. Yup… history book stuff. (Thomas Jordan is Mr. and Graeme Wheeler is my mate). I would strongly suspect that this policy statement from the SNB could be quite interesting given the recent moves in all related CHF pairs except the EUR/CHF. I do NOT want to start rumours but DO NOT rule out the SNB desire to have a new floor / PEG in the EUR/CHF of 1.1000 being announced…just saying. They could also move in increasing the negative deposit rate higher from the current 0.75%. As Peter Frampton would sing do not get caught “Asleep at the wheel”.\r\n\r\nLooking sideways….\r\n\r\nIn eight years of trading, I do not think apart from the 2008/9 crash I have ever witnessed the Forex market being at such extremes. Mark my words, this will end in tears....\r\n<p style=\"text-align: left;\"><em>“Divergences &amp; poor correlations for an extended period = capitulation moves”</em></p>\r\nI do not want to talk about BLACK SWAN events or the like, but the drop in the EUR/USD is now epic. Last May we were at 1.3972. We closed last week at 1.0495… that is 3,477 pips lower in about 9 months given a day or two.\r\n\r\nWe could see the mother of all drops this week if the FOMC announces that rates will still rise prior to the summer.\r\n\r\nThis FOMC news event is so important it will set up the FX market directionally for the next couple of months at the very least. DO NOT RISK YOUR BROKER ACCOUNT BY TRYING TO SECOND GUESS THE FOMC…close all USD related trades ahead of the event. Whatever way the FOMC decides on interest rates there will be opportunities to make lots of pips. The greatest feature and benefit of trading the Forex market is that there are moves everyday and there are opportunities everyday. DO NOT BE A SUCKER giving sucker money to your broker’s wallet.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\"><strong>WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?\r\n</strong><strong>And\r\n</strong><strong>AHEAD OF THE FOMC… THE SMART MONEY IS ALREADY IN CASH</strong></h4>\r\nI have been making notes all week about this week’s article. Before the week started I knew what my subject was going to be, it was just a question of deciding the content as the week progressed. From what I thought I would be writing at the start of the week, to what I am writing now, is about 80% similar. The big difference is that I did not think the FOMC release, (albeit important and market moving), would be such a huge pivotal piece of data, as I believe it is going to be.\r\n\r\nIn the past I have used words and phrases like “CROSSROADS”, “PRECIPICE”, “WHERE THE GRAVEL MEETS THE ROAD” and “THE LINE IN THE SAND” when describing key data releases etc. This Wednesday is one of those crucial days for data. Without doubt this is Janet Yellen’s most crucial few hours as Fed Chair since replacing Ben Bernanke.\r\n\r\nI have a few economic arguments related to the strength of the USD and what the major issues are for the FED. However, before listing these, I want to say that from day one in office, Janet Yellen has stuck to her guns on commentary. She has painstakingly delivered a consistent message to the markets on when she is going to raise interest rates. She moved the markets away from employment percentages to being more reliant on data. She has said consistently of late that movements in interest rates will be data dependent. In fact of late, like many other Central Bank Presidents or Governors she has shown more of a concern over DEFLATION than anything else.\r\n\r\nLets face the facts; there is an economic slowdown. We are bouncing along the bottom, there are NO consistencies of economic growth in the world, China is slowing down and there are divergences all over the markets to ponder.\r\n\r\nIt all comes down to one word from the FOMC statement. If PATIENT is removed the EUR/USD will be crushed through parity within weeks. I know it sounds crazy, but this statement on Wednesday has a lot to do with saving face. The FED has said that interest rates are going to rise in the U.S. If they pullback from this position the USD will get crushed instead. But if the FED rescinds on raising rates no-one will believe a word uttered from them again and the markets will lose what it needs above all else, certainty of FED monetary policy. Uncertainty, which is what will happen if rates do not rise, this would be a huge step back for the markets. Of course, the FED can say that interest rates are still going to rise in 2015 but not before the summer.\r\n\r\nMy view is that the chatter on FED rate increases has reached the point where the FED needs to act, and, above all else, be clear and as unambiguous as possible on future actions.\r\n\r\nI think she will intimate a rate increase of 0.25% to be done June or July and the EUR/USD will get crushed as a result. Previous blogs refer to Central bank divergences; the ECB is accommodative, dovish and interest rates low for years to come. The FED raising rates is hawkish. The divergence will provide a sell-off of huge proportions.\r\n\r\nSo it’s dead simple….\r\n\r\nNot that fast….\r\n\r\nThe FED has the ultimate dilemma.\r\n\r\nThe 800lb gorilla in the room is DEFLATION.\r\n\r\nThe FED does NOT want DEFLATION as the strong USD gives DEFLATION through lower import prices on goods imported into the USA from abroad. How on earth with DEFLATION can the FED achieve its 2% INFLATION target?\r\n\r\nSo basically as I see it Janet Yellen is damned if she doesn’t and damned if she does.\r\n\r\nIf she raises rates like I think she will, the EMERGING MARKETS could be faced with a crash not unlike 1997. The ramification of U.S. monetary policy is felt worldwide.\r\n\r\nIf she doesn’t raise rates, I believe that the markets will see this as a rate cut…stocks will rally and the USD will weaken. But, this places future FED speak into the “yeah right!!” category of do you or don\'t you believe them in the future. This is a risk and Central Bankers do NOT like or take risks. No rate cut would say to the markets that the economic data is so poor, that it my opinion it could lead to another bout of QE…. QE4!!!\r\n\r\nI believe that clever / smart equity market traders will have cashed out many of their positions ahead of the FOMC. Equity markets cash from the U.S. is being placed into the European bourses like the DAX. There are some U.S. investors that are mandated to keep their money in the U.S. I think they will have it in cash at the moment until they see what the FED does.\r\n\r\nThere is uncertainty in the equity markets, in particular the U.S., and it is evident for all to see the divergence between the DAX and S&amp;P.\r\n\r\nWith uncertainty in the U.S. one might expect a flight to safety with GOLD. But I see GOLD as a huge DEFLATION trade at the moment. The higher return in the USD is in direct comparison to China weakness, the ECB QE program and Japanese future economic uncertainty.\r\n\r\nIt is clear-cut in my eyes.\r\n\r\nFrom an equity perspective, the SMART MONEY has reduced positions in U.S. equities.\r\n\r\nFrom an FX perspective, Forex Traders are either going to get a major sell-off or a bounce in the EUR/USD. It is all based on the FED’s interpretation of U.S. economic data. If the FOMC says that interest rates can’t move because the data is still not good enough…. the USD will get crushed and I predict QE4.\r\n\r\nIt is huge decision, some may say gamble because Yellen will NOT want to lose face by not raising interest rates. This could create huge credibility issues moving forward.\r\n\r\nI am in the camp of a June or July rate hike.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong><strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nI mentioned last week, that I am looking at making some changes to my Forex business.\r\n\r\nThese changes will soon be seen on my website, in the structures and formats of my various blogs.\r\n\r\nOver the next 4-6 weeks most of these changes will be completed, the only areas that are causing a few headaches at the moment are those issues relating to space, which are beyond my pay scale and a whole new world to become involved with. Some changes are easier than others to make, and, can be pretty instant to do, while others, in particular, my space issues require more thought and planning. The progress review meetings are still taking place and I am happy so far, although the bigger decisions are still to be made.\r\n\r\nHowever, there are subtle changes made to the blog content this week. These are specifically aimed at my PREMIUM SERVICE subscribers, in section 4.\r\n\r\nBasically, as we know, the closing weekly candles are heavily scrutinised by the major banks in the way that they assess their future FX strategy. This is not just for the coming week but also looking at a run of weekly candles can provide some strong trending data. From this blog onwards, I believe that it would be a good discipline to review these charts each week. I am proposing only the USD majors at this stage. These charts now form part of section 4.7.\r\n\r\nMoving forward this blog will remain, but I can confirm that the section exclusively for PREMIUM SERVICE subscribers will expand. This is only fair when you consider that my subscribers are paying for a service of TRADE SET-UPS plus the bonus of some MARKET ANALYSIS.\r\n\r\nSubscription changes will take place from April 1<sup>st</sup> and I am hoping to be able to show more flexibility in subscription periods but this is to a large extent outside of my control as it is in the hands of PayPal.\r\n\r\nMy process moving forward with the proposed changes involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Please continue to watch this space for updates.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\"><img class=\"aligncenter size-full wp-image-5467\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\" alt=\"PROFIT LOSS RATIO 15032105\" width=\"414\" height=\"585\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\"><img class=\"aligncenter size-full wp-image-5466\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\" alt=\"RISK REWARD 15032015\" width=\"428\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\"><img class=\"aligncenter size-full wp-image-5468\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\" alt=\"PREM SERV PROFITS 1 15032015\" width=\"452\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\"><img class=\"aligncenter size-full wp-image-5469\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\" alt=\"PREM SERV PROFITS2 15032015\" width=\"464\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThere is no EDUCATION article this week .\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW:</span>\r\n\r\nLast week was a great trading week for THE PREMIUM SERVICE. The USD/CHF and GBP/NZD both long trades were the standouts.\r\n\r\nRegarding The USD/CHF, this was the second long trade with this pair in the last 7 or 8 days, from which a core position developed a substantial amount of associated trades. I think at one stage across 5 trading accounts there were over 20 USD/CHF trades LIVE at the same time.\r\n\r\nThe GBP/NZD was the first example this year of the SSP in action. The move triggered 4 long trades for a total of 685 pips. From the first trade to the trade 4 closing price the PREMIUM SERVICE claimed a total of 429 pips. I was very happy with this trade from a technical perspective. One of these trades each week would be just great. One a month is also fine!\r\n\r\nTo compliment these trades several USD major pairs added an average of 30-40 trade profits per trade to turn a previous monthly trade income from a negative into a healthy positive.\r\n\r\nIt is all about consistency. My PREMIUM SERVICE general trading account keeps ticking over. It is only when more than a single lot is risked and the trade concerned turns out to be a losing trade that you have to play catch-up. My old FXCM account could be playing catch up for another three months!\r\n\r\nThe principle of single-lot profitable trading works; it’s all about having the right sized account for a MICRO, MINI or STANDARD LOT approach to gain the success.\r\n\r\nInto this week I carried forward 4 trades all of them hedged. Two of the trades GBP/CAD and GBP/AUD are long FUNDAMENTAL TRADES; the others are EUR/CHF long and long GBP/CHF.\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-15032015.png\"><img class=\"aligncenter size-full wp-image-5477\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-15032015.png\" alt=\"PS LIVE TRADES 15032015\" width=\"723\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-15032105.png\"><img class=\"aligncenter size-full wp-image-5476\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-15032105.png\" alt=\"PS LIMIT ORDERS 15032105\" width=\"717\" height=\"398\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. New from this week onwards are the closing weekly charts for the USD majors that are featured in section 4.7.\r\n\r\nThis section will contain charts related to other pairs. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If these are no comments beneath the charts my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<span style=\"text-decoration: underline;\">EUR/AUD, EUR/CAD (weekly) and EUR/NZD (monthly):</span>\r\n\r\nThese charts below show critical support levels that are almost in play. I think it would be a very brave person to go long these pairs at the moment given the relentless selling of the EUR across the board. However, should the EUR/USD bounce, the reversal moves higher in these pairs could be awesome.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURAUDWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5488\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURAUDWeekly15032015-1024x467.png\" alt=\"EURAUDWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURCADWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5489\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURCADWeekly15032015-1024x467.png\" alt=\"EURCADWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURNZDMonthly15032015.png\"><img class=\"aligncenter size-large wp-image-5490\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURNZDMonthly15032015-1024x467.png\" alt=\"EURNZDMonthly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF (240 minutes):</span>\r\n\r\nWe bounced off horizontal support at 1.4764 last Friday. Watch this pair in relation to the SNB announcement in case they deliver another market moving piece of data. Back above 1.4920 makes me feel that this pair is once again bullish.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHFH415032105.png\"><img class=\"aligncenter size-large wp-image-5492\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHFH415032105-1024x467.png\" alt=\"GBPCHFH415032105\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/NZD (weekly):</span>\r\n\r\nA break below 2.000 could possible be on. I see a long trade opportunity around 1.9850 maybe being the first opportunity, or maybe a deeper pullback to around 1.9400 is on the cards. I do think that a long trade of this pair offers a great risk reward when it sets up.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5493\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDWeekly15032015-1024x467.png\" alt=\"GBPNZDWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">EUR/JPY (weekly), GBP/JPY (daily) and EUR/GBP (60 minutes):</span>\r\n\r\nI am looking to enter short all of these pairs on pullbacks, possibly as soon at the European session tomorrow. At the back of my mind though is the FOMC, and, the question “are we just going to see consolidation ahead of the news?”. I will need to think about this.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-WEEKLY-15032015-1024x517.png\" alt=\"EURJPY WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPJPY-DAILY-15032015.png\"><img class=\"aligncenter size-large wp-image-5483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPJPY-DAILY-15032015-1024x517.png\" alt=\"GBPJPY DAILY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-60M-15032015.png\"><img class=\"aligncenter size-large wp-image-5486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-60M-15032015-1024x517.png\" alt=\"EURGBP 60M 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-15032015.png\"><img class=\"aligncenter size-full wp-image-5475\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-15032015.png\" alt=\"TRENDING PAIRS 15032015\" width=\"396\" height=\"506\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0495.</strong> I never thought that this week I would be writing a EUR/USD exchange rate with a 1.04 handle. Last week I was convinced that we would see a pullback to about 1.1000, from which I would enter short and happy days would ensue for one and all. I know that a few of you just jumped in short the EUR/USD and it has worked out for you. That is NOT my style nor is it in my TRADE PLAN. My PREMIUM SERVICE short entry is at 1.0970. I extended the limit order date for expiry up to the 27<sup>th</sup> March earlier today as I watched the EUR/USD take a death plunge below 1.05 and flush out the stops.\r\n\r\nThe WEEKLY CHART below covers from 2006 to the present day. You can see the down sloping trading range that the EUR/USD has been in since 2007. There is a support horizontal trend line that comes into play at 1.0360 (I cannot get it on the chart as it makes the chart so small it would be impossible to see any detail at all), I think that this is where we are going. However, if the FOMC takes away PATIENT from the statement this Wednesday we are heading to parity in probably a few weeks. This 1.0360 support will be irrelevant and the Goldman Sachs target of sub 0.9000 becomes very much a thought to seriously consider.\r\n\r\nSupport is at 1.0360 and resistance at 1.0665.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-15032015-1024x517.png\" alt=\"EURUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.4740</strong>. Wow, it very much looks like the GBP/USD is heading for low 1.40’s very soon. The WEEKLY CHART below shows the Fibonacci 127% extension support at 1.4162. I cannot see me obtaining a pullback to 1.5200 to enter short somehow. I will have to revise my short entry when I see if the cable bounces in sympathy with the EUR/USD, assuming we get a bounce! The general election uncertainty is starting to weigh in on the cable. George Osborne (UK Chancellor) delivers his budget this week and this potentially could be another banana skin for GBP/USD.\r\n\r\nInitial support is at 1.4700 and resistance at 1.4777.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-15032015-1024x517.png\" alt=\"GBPUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7633</strong>. Below 0.7600 and it is almost plain sailing all the way to 0.7100. It all depends on the FOMC. There are very strong rumours of an RBA Rate cut next month. But that is along time away from the present. There is some support at 0.7560-65 that may offer something but in real terms if we continue to fall below 0.7600 it could pick up speed to 0.7230, where there is a Fibonacci confluence then obviously the RBA objective from a while back of 0.7000 is just below.\r\n\r\nSupport is at 0.7560 and resistance at 0.7740.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-15032015-1024x517.png\" alt=\"AUDUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7312</strong>. When you look at the WEEKLY CHART below the government target of an exchange rate of 0.6500 does not look too far away. In fact, I believe once at 0.7000 it could be quite a swift move lower. For now however there are a few key levels to break. Right now as you can see from the chart below we have a clear trading range of 0.7170 to 0.7620.\r\n\r\nSupport is good at 0.7250 and resistance is strong at 0.7360 and then at 0.7420.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-15032015-1024x517.png\" alt=\"NZDUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2778.</strong> Crude oil is really heavily influencing this pair. There was a nice drop in oil prices on Friday last week and despite better than expected Employment data on Friday morning the CAD weakened and rose to above 1.2800 before pulling back a little. One thing that is noticeable from the WEEKLY CHART below is that we have made a cup from a potential cup and handle formation. If we did form a cup and handle formation we are looking at 1.6000+.\r\n\r\nThe move higher off 1.0750 – 1.0800 is just pure power. It is obvious to me that another re-test of 1.3060 is on the cards and then who knows where. There is a flag pattern on the chart with a potential measured move to 1.4000.\r\n\r\nSupport is good at 1.2750 and resistance is at 1.2800-25 then 1.3000 looms again.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5480\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-15032015-1024x517.png\" alt=\"USDCAD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong>USD/CHF: Closing Price 1.0043</strong>. This has been my trading pair of the year so far. After the EUR/CHF peg was removed this pair has been like a stealth pair rising back from the ashes to parity. We have had two failures now at just above 1.0100. The chart below shows the rise since the CHF peg removal on the EUR/CHF. The target that I am working to is the pre PEG removal 1.0230. But for now this looks a tough nut to crack. However, should the EUR/USD drop like a lead balloon, I would expect the USD/CHF to pass 1.0250. This would be aided by SNB action on negative interest rates.\r\n\r\nSupport is at 0.9970 and resistance at 1.0125.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-CHART-15032015.png\"><img class=\"aligncenter size-large wp-image-5479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-CHART-15032015-1024x517.png\" alt=\"USDCHF WEEKLY CHART 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 121.39. </strong> The USD/JPY has powered higher this week, but there is divergence between the performance of the JPY and the Nikkei. I am no expert on the JPY pairs at all but this correlation is usually crucial and if it is off sync, I predict trouble for the JPY and we could see JPY strengthening once again across the board.\r\n\r\nThere is previous resistance at 124.20 on monthly charts, that level is still quite a long way off. Pullbacks to 118.50 should be very well supported and that is where I believe the lower end of the USD/JPY range lies.\r\n\r\nFor now I think support at 120.50 and resistance at 121.75 and 122.00 is what should keep our attention.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-15032015-1024x517.png\" alt=\"USDJPY WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – The Annual Budget.\r\n<span style=\"line-height: 1.5;\">WEDNESDAY: USD – FOMC Statement, Projections &amp; Press Conference.\r\n</span><span style=\"line-height: 1.5;\">WEDNESDAY: NZD – GDP.</span>\r\n\r\nTHURSDAY: CHF – SNB Policy Statement &amp; Press Conference.\r\n\r\nFRIDAY: CAD – Core CPi and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis week is all about two items of news in my opinion.\r\n\r\nThe FOMC Monetary Policy Statement, with revised economic projections with Janet Yellen’s Press Conference.\r\n\r\nand\r\n\r\nThe SNB Libor rate announcement and the monetary policy statement, with Governor Mr. Jordan’s Press Conference.\r\n\r\nThere are other snippets of news but these two dominate in my opinion.\r\n\r\nCertainly ahead of the FOMC, I will be lighter than light on LIVE trades. At the time of writing this blog, my thought process is just to have the existing hedged trades open, they are primarily FUNDAMENTAL TRADES.\r\n\r\nIt is without doubt a pivotal week.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?','','publish','open','closed','','will-the-fomc-break-the-eurusd-on-wednesday','','','2015-03-14 13:17:16','2015-03-14 18:17:16','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5494',0,'member_posts','',0),(5495,1,'2015-03-14 12:46:22','2015-03-14 17:46:22','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.03.2015\r\nREFERENCE: #51\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">1.1 LOOKING BACKWARD, FORWARD &amp; SIDEWAYS AT THE FX MARKET:</span>\r\n\r\nLooking backward…\r\n\r\nMy main title of the blog last week following the huge moves in the USD was,\r\n\r\n<strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong>\r\n\r\nwell…I got that wrong. The DXY powered onwards and upwards to touch the big triple digit 100.00 and then pulled back. Since that day, we have really just bounced around and range traded.\r\n\r\nWe saw very big moves lower with the cable and on Friday last week the EUR/USD broke below 1.0500. The GBP/USD broke recent lows sub 1.4777 to test 1.4700 and the EUR/USD dropped and took stops below 1.0500. I think that as we have an FOMC statement and the fact that Janet Yellen has a press conference this week to some extent the markets were adjusting positions, squaring off ahead and in anticipation of what the FOMC statement will be. The key of course is whether the word PATIENT is or is not included in the press release.\r\n\r\nThe power of the USD I believe has taken a lot of people by surprise. Most pundits / experts on TV have never seen the USD flex it’s muscles. It has always been generally weak and kept in its box. It has been and continues to defy gravity by some explosive upward moves. I still believe that we should see some consolidation. How high will it go? Potentially up to 125.00. It sounds crazy but with Central Bank divergence between the FED and ECB it is possible. This places the EUR/USD below parity around 0.9000. Yesterday, Goldman Sachs released 2015 and 2016 currency targets for the EUR/USD – they are quoting 0.9000 and 0.8600 as potential targets. Who knows? … watch this space.\r\n\r\nMy mate, Graeme Wheeler (RBNZ Governor), held rates at 3.50% and gave the usual two-sided Press Conference; balancing comments between DOVISH and HAWKISH, just to keep you guessing. My thoughts were more DOVISH, so I shorted the NZD/USD and posted a 48 pip loss. We actually had quite a substantial rally off the lows, of about 250 pips in total, before starting to fall back again in line with USD strength.\r\n\r\nLooking forward….\r\n\r\nThe big news in the past 5 days of trading was the USD (DXY). This makes for a very interesting FOMC day on Wednesday. I will be out of all USD related trades well before the statement is released and unless you are a gambler of the high-stakes tables at Las Vegas I suggest you clear your USD related trades.\r\n\r\nMy approach to Forex is based on a lower risk assessment of each trade. I learnt a long time ago that FX could be a 50-50 gamble on direction. I admit those odds appeal to gamblers, but longevity in trading is what FX is all about and the “Slow and Steady wins the race” approach will always win out.\r\n\r\nMr. Jordan (Thomas Jordan) Governor of the SNB also takes to the stage this week with SNB Libor and a rate/Policy statement. I have to use Mr. for the SNB Governor as following the PEG removal of the EUR/CHF earlier this year, that move has elevated him to the history books…mucho $$$$$$ lost around the world a little profit here and there and thousands of jobs lost as a result. Yup… history book stuff. (Thomas Jordan is Mr. and Graeme Wheeler is my mate). I would strongly suspect that this policy statement from the SNB could be quite interesting given the recent moves in all related CHF pairs except the EUR/CHF. I do NOT want to start rumours but DO NOT rule out the SNB desire to have a new floor / PEG in the EUR/CHF of 1.1000 being announced…just saying. They could also move in increasing the negative deposit rate higher from the current 0.75%. As Peter Frampton would sing do not get caught “Asleep at the wheel”.\r\n\r\nLooking sideways….\r\n\r\nIn eight years of trading, I do not think apart from the 2008/9 crash I have ever witnessed the Forex market being at such extremes. Mark my words, this will end in tears....\r\n<p style=\"text-align: left;\">“Divergences &amp; poor correlations for an extended period = capitulation moves”</p>\r\nI do not want to talk about BLACK SWAN events or the like, but the drop in the EUR/USD is now epic. Last May we were at 1.3972. We closed last week at 1.0495… that is 3,477 pips lower in about 9 months given a day or two.\r\n\r\nWe could see the mother of all drops this week if the FOMC announces that rates will still rise prior to the summer.\r\n\r\nThis FOMC news event is so important it will set up the FX market directionally for the next couple of months at the very least. DO NOT RISK YOUR BROKER ACCOUNT BY TRYING TO SECOND GUESS THE FOMC…close all USD related trades ahead of the event. Whatever way the FOMC decides on interest rates there will be opportunities to make lots of pips. The greatest feature and benefit of trading the Forex market is that there are moves everyday and there are opportunities everyday. DO NOT BE A SUCKER giving sucker money to your broker’s wallet.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\"><strong>WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?\r\n</strong><strong>And\r\n</strong><strong>AHEAD OF THE FOMC… THE SMART MONEY IS ALREADY IN CASH</strong></h4>\r\nI have been making notes all week about this week’s article. Before the week started I knew what my subject was going to be, it was just a question of deciding the content as the week progressed. From what I thought I would be writing at the start of the week, to what I am writing now, is about 80% similar. The big difference is that I did not think the FOMC release, (albeit important and market moving), would be such a huge pivotal piece of data, as I believe it is going to be.\r\n\r\nIn the past I have used words and phrases like “CROSSROADS”, “PRECIPICE”, “WHERE THE GRAVEL MEETS THE ROAD” and “THE LINE IN THE SAND” when describing key data releases etc. This Wednesday is one of those crucial days for data. Without doubt this is Janet Yellen’s most crucial few hours as Fed Chair since replacing Ben Bernanke.\r\n\r\nI have a few economic arguments related to the strength of the USD and what the major issues are for the FED. However, before listing these, I want to say that from day one in office, Janet Yellen has stuck to her guns on commentary. She has painstakingly delivered a consistent message to the markets on when she is going to raise interest rates. She moved the markets away from employment percentages to being more reliant on data. She has said consistently of late that movements in interest rates will be data dependent. In fact of late, like many other Central Bank Presidents or Governors she has shown more of a concern over DEFLATION than anything else.\r\n\r\nLets face the facts; there is an economic slowdown. We are bouncing along the bottom, there are NO consistencies of economic growth in the world, China is slowing down and there are divergences all over the markets to ponder.\r\n\r\nIt all comes down to one word from the FOMC statement. If PATIENT is removed the EUR/USD will be crushed through parity within weeks. I know it sounds crazy, but this statement on Wednesday has a lot to do with saving face. The FED has said that interest rates are going to rise in the U.S. If they pullback from this position the USD will get crushed instead. But if the FED rescinds on raising rates no-one will believe a word uttered from them again and the markets will lose what it needs above all else, certainty of FED monetary policy. Uncertainty, which is what will happen if rates do not rise, this would be a huge step back for the markets. Of course, the FED can say that interest rates are still going to rise in 2015 but not before the summer.\r\n\r\nMy view is that the chatter on FED rate increases has reached the point where the FED needs to act, and, above all else, be clear and as unambiguous as possible on future actions.\r\n\r\nI think she will intimate a rate increase of 0.25% to be done June or July and the EUR/USD will get crushed as a result. Previous blogs refer to Central bank divergences; the ECB is accommodative, dovish and interest rates low for years to come. The FED raising rates is hawkish. The divergence will provide a sell-off of huge proportions.\r\n\r\nSo it’s dead simple….\r\n\r\nNot that fast….\r\n\r\nThe FED has the ultimate dilemma.\r\n\r\nThe 800lb gorilla in the room is DEFLATION.\r\n\r\nThe FED does NOT want DEFLATION as the strong USD gives DEFLATION through lower import prices on goods imported into the USA from abroad. How on earth with DEFLATION can the FED achieve its 2% INFLATION target?\r\n\r\nSo basically as I see it Janet Yellen is dammed if she doesn’t and dammed if she does.\r\n\r\nIf she raises rates like I think she will, the EMERGING MARKETS could be faced with a crash not unlike 1997. The ramification of U.S. monetary policy is felt worldwide.\r\n\r\nIf she doesn’t raise rates, I believe that the markets will see this as a rate cut…stocks will rally and the USD will weaken. But, this places future FED speak into the “yeah right!!” category of do you or don\'t you believe them in the future. This is a risk and Central Bankers do NOT like or take risks. No rate cut would say to the markets that the economic data is so poor, that it my opinion it could lead to another bout of QE…. QE4!!!\r\n\r\nI believe that clever / smart equity market traders will have cashed out many of their positions ahead of the FOMC. Equity markets cash from the U.S. is being placed into the European bourses like the DAX. There are some U.S. investors that are mandated to keep their money in the U.S. I think they will have it in cash at the moment until they see what the FED does.\r\n\r\nThere is uncertainty in the equity markets, in particular the U.S., and it is evident for all to see the divergence between the DAX and S&amp;P.\r\n\r\nWith uncertainty in the U.S. one might expect a flight to safety with GOLD. But I see GOLD as a huge DEFLATION trade at the moment. The higher return in the USD is in direct comparison to China weakness, the ECB QE program and Japanese future economic uncertainty.\r\n\r\nIt is clear-cut in my eyes.\r\n\r\nFrom an equity perspective, the SMART MONEY has reduced positions in U.S. equities.\r\n\r\nFrom an FX perspective, Forex Traders are either going to get a major sell-off or a bounce in the EUR/USD. It is all based on the FED’s interpretation of U.S. economic data. If the FOMC says that interest rates can’t move because the data is still not good enough…. the USD will get crushed and I predict QE4.\r\n\r\nIt is huge decision, some may say gamble because Yellen will NOT want to lose face by not raising interest rates. This could create huge credibility issues moving forward.\r\n\r\nI am in the camp of a June or July rate hike.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nI mentioned last week, that I am looking at making some changes to my Forex business.\r\n\r\nThese changes will soon be seen on my website, in the structures and formats of my various blogs.\r\n\r\nOver the next 4-6 weeks most of these changes will be completed, the only areas that are causing a few headaches at the moment are those issues relating to space, which are beyond my pay scale and a whole new world to become involved with. Some changes are easier than others to make, and, can be pretty instant to do, while others, in particular, my space issues require more thought and planning. The progress review meetings are still taking place and I am happy so far, although the bigger decisions are still to be made.\r\n\r\nHowever, there are subtle changes made to the blog content this week. These are specifically aimed at my PREMIUM SERVICE subscribers, in section 4.\r\n\r\nBasically, as we know, the closing weekly candles are heavily scrutinised by the major banks in the way that they assess their future FX strategy. This is not just for the coming week but also looking at a run of weekly candles can provide some strong trending data. From this blog onwards, I believe that it would be a good discipline to review these charts each week. I am proposing only the USD majors at this stage. These charts now form part of section 4.7.\r\n\r\nMoving forward this blog will remain, but I can confirm that the section exclusively for PREMIUM SERVICE subscribers will expand. This is only fair when you consider that my subscribers are paying for a service of TRADE SET-UPS plus the bonus of some MARKET ANALYSIS.\r\n\r\nSubscription changes will take place from April 1<sup>st</sup> and I am hoping to be able to show more flexibility in subscription periods but this is to a large extent outside of my control as it is in the hands of PayPal.\r\n\r\nMy process moving forward with the proposed changes involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRPITIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Please continue to watch this space for updates.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\"><img class=\"aligncenter size-full wp-image-5467\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\" alt=\"PROFIT LOSS RATIO 15032105\" width=\"414\" height=\"585\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\"><img class=\"aligncenter size-full wp-image-5466\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\" alt=\"RISK REWARD 15032015\" width=\"428\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\"><img class=\"aligncenter size-full wp-image-5468\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\" alt=\"PREM SERV PROFITS 1 15032015\" width=\"452\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\"><img class=\"aligncenter size-full wp-image-5469\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\" alt=\"PREM SERV PROFITS2 15032015\" width=\"464\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThere is no EDUCATION article this week .\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW:</span>\r\n\r\nLast week was a great trading week for THE PREMIUM SERVICE. The USD/CHF and GBP/NZD both long trades were the standouts.\r\n\r\nRegarding The USD/CHF, this was the second long trade with this pair in the last 7 or 8 days, from which a core position developed a substantial amount of associated trades. I think at one stage across 5 trading accounts there were over 20 USD/CHF trades LIVE at the same time.\r\n\r\nThe GBP/NZD was the first example this year of the SSP in action. The move triggered 4 long trades for a total of 685 pips. From the first trade to the trade 4 closing price the PREMIUM SERVICE claimed a total of 429 pips. I was very happy with this trade from a technical perspective. One of these trades each week would be just great. One a month is also fine!\r\n\r\nTo compliment these trades several USD major pairs added an average of 30-40 trade profits per trade to turn a previous monthly trade income from a negative into a healthy positive.\r\n\r\nIt is all about consistency. My PREMIUM SERVICE general trading account keeps ticking over. It is only when more than a single lot is risked and the trade concerned turns out to be a losing trade that you have to play catch-up. My old FXCM account could be playing catch up for another three months!\r\n\r\nThe principle of single-lot profitable trading works; it’s all about having the right sized account for a MICRO, MINI or STANDARD LOT approach to gain the success.\r\n\r\nInto this week I carried forward 4 trades all of them hedged. Two of the trades GBP/CAD and GBP/AUD are long FUNDAMENTAL TRADES; the others are EUR/CHF long and long GBP/CHF.\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-15032015.png\"><img class=\"aligncenter size-full wp-image-5477\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-15032015.png\" alt=\"PS LIVE TRADES 15032015\" width=\"723\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-15032105.png\"><img class=\"aligncenter size-full wp-image-5476\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-15032105.png\" alt=\"PS LIMIT ORDERS 15032105\" width=\"717\" height=\"398\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUINDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. New from this week onwards are the closing weekly charts for the USD majors that are featured in section 4.7.\r\n\r\nThis section will contain charts related to other pairs. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If these are no comments beneath the charts my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<span style=\"text-decoration: underline;\">EUR/AUD, EUR/CAD (weekly) and EUR/NZD (monthly):</span>\r\n\r\nThese charts below show critical support levels that are almost in play. I think it would be a very brave person to go long these pairs at the moment given the relentless selling of the EUR across the board. However, should the EUR/USD bounce, the reversal moves higher in these pairs could be awesome.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURAUDWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5488\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURAUDWeekly15032015-1024x467.png\" alt=\"EURAUDWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURCADWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5489\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURCADWeekly15032015-1024x467.png\" alt=\"EURCADWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURNZDMonthly15032015.png\"><img class=\"aligncenter size-large wp-image-5490\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURNZDMonthly15032015-1024x467.png\" alt=\"EURNZDMonthly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF (240 minutes):</span>\r\n\r\nWe bounced off horizontal support at 1.4764 last Friday. Watch this pair in relation to the SNB announcement in case they deliver another market moving piece of data. Back above 1.4920 makes me feel that this pair is once again bullish.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHFH415032105.png\"><img class=\"aligncenter size-large wp-image-5492\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHFH415032105-1024x467.png\" alt=\"GBPCHFH415032105\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/NZD (weekly):</span>\r\n\r\nA break below 2.000 could possible be on. I see a long trade opportunity around 1.9850 maybe being the first opportunity, or maybe a deeper pullback to around 1.9400 is on the cards. I do think that a long trade of this pair offers a great risk reward when it sets up.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5493\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDWeekly15032015-1024x467.png\" alt=\"GBPNZDWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">EUR/JPY (weekly), GBP/JPY (daily) and EUR/GBP (60 minutes):</span>\r\n\r\nI am looking to enter short all of these pairs on pullbacks, possibly as soon at the European session tomorrow. At the back of my mind though is the FOMC, and, the question “are we just going to see consolidation ahead of the news?”. I will need to think about this.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-WEEKLY-15032015-1024x517.png\" alt=\"EURJPY WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPJPY-DAILY-15032015.png\"><img class=\"aligncenter size-large wp-image-5483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPJPY-DAILY-15032015-1024x517.png\" alt=\"GBPJPY DAILY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-60M-15032015.png\"><img class=\"aligncenter size-large wp-image-5486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-60M-15032015-1024x517.png\" alt=\"EURGBP 60M 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-15032015.png\"><img class=\"aligncenter size-full wp-image-5475\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-15032015.png\" alt=\"TRENDING PAIRS 15032015\" width=\"396\" height=\"506\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0495.</strong> I never thought that this week I would be writing a EUR/USD exchange rate with a 1.04 handle. Last week I was convinced that we would see a pullback to about 1.1000, from which I would enter short and happy days would ensue for one and all. I know that a few of you just jumped in short the EUR/USD and it has worked out for you. That is NOT my style nor is it in my TRADE PLAN. My PREMIUM SERVICE short entry is at 1.0970. I extended the limit order date for expiry up to the 27<sup>th</sup> March earlier today as I watched the EUR/USD take a death plunge below 1.05 and flush out the stops.\r\n\r\nThe WEEKLY CHART below covers from 2006 to the present day. You can see the down sloping trading range that the EUR/USD has been in since 2007. There is a support horizontal trend line that comes into play at 1.0360 (I cannot get it on the chart as it makes the chart so small it would be impossible to see any detail at all), I think that this is where we are going. However, if the FOMC takes away PATIENT from the statement this Wednesday we are heading to parity in probably a few weeks. This 1.0360 support will be irrelevant and the Goldman Sachs target of sub 0.9000 becomes very much a thought to seriously consider.\r\n\r\nSupport is at 1.0360 and resistance at 1.0665.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-15032015-1024x517.png\" alt=\"EURUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.4740</strong>. Wow, it very much looks like the GBP/USD is heading for low 1.40’s very soon. The WEEKLY CHART below shows the Fibonacci 127% extension support at 1.4162. I cannot see me obtaining a pullback to 1.5200 to enter short somehow. I will have to revise my short entry when I see if the cable bounces in sympathy with the EUR/USD, assuming we get a bounce! The general election uncertainty is starting to weigh in on the cable. George Osborne (UK Chancellor) delivers his budget this week and this potentially could be another banana skin for GBP/USD.\r\n\r\nInitial support is at 1.4700 and resistance at 1.4777.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-15032015-1024x517.png\" alt=\"GBPUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7633</strong>. Below 0.7600 and it is almost plain sailing all the way to 0.7100. It all depends on the FOMC. There are very strong rumours of an RBA Rate cut next month. But that is along time away from the present. There is some support at 0.7560-65 that may offer something but in real terms if we continue to fall below 0.7600 it could pick up speed to 0.7230, where there is a Fibonacci confluence then obviously the RBA objective from a while back of 0.7000 is just below.\r\n\r\nSupport is at 0.7560 and resistance at 0.7740.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-15032015-1024x517.png\" alt=\"AUDUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7312</strong>. When you look at the WEEKLY CHART below the government target of an exchange rate of 0.6500 does not look too far away. In fact, I believe once at 0.7000 it could be quite a swift move lower. For now however there are a few key levels to break. Right now as you can see from the chart below we have a clear trading range of 0.7170 to 0.7620.\r\n\r\nSupport is good at 0.7250 and resistance is strong at 0.7360 and then at 0.7420.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-15032015-1024x517.png\" alt=\"NZDUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2778.</strong> Crude oil is really heavily influencing this pair. There was a nice drop in oil prices on Friday last week and despite better than expected Employment data on Friday morning the CAD weakened and rose to above 1.2800 before pulling back a little. One thing that is noticeable from the WEEKLY CHART below is that we have made a cup from a potential cup and handle formation. If we did form a cup and handle formation we are looking at 1.6000+.\r\n\r\nThe move higher off 1.0750 – 1.0800 is just pure power. It is obvious to me that another re-test of 1.3060 is on the cards and then who knows where. There is a flag pattern on the chart with a potential measured move to 1.4000.\r\n\r\nSupport is good at 1.2750 and resistance is at 1.2800-25 then 1.3000 looms again.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5480\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-15032015-1024x517.png\" alt=\"USDCAD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong>USD/CHF: Closing Price 1.0043</strong>. This has been my trading pair of the year so far. After the EUR/CHF peg was removed this pair has been like a stealth pair rising back from the ashes to parity. We have had two failures now at just above 1.0100. The chart below shows the rise since the CHF peg removal on the EUR/CHF. The target that I am working to is the pre PEG removal 1.0230. But for now this looks a tough nut to crack. However, should the EUR/USD drop like a lead balloon, I would expect the USD/CHF to pass 1.0250. This would be aided by SNB action on negative interest rates.\r\n\r\nSupport is at 0.9970 and resistance at 1.0125.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-CHART-15032015.png\"><img class=\"aligncenter size-large wp-image-5479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-CHART-15032015-1024x517.png\" alt=\"USDCHF WEEKLY CHART 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 121.39. </strong> The USD/JPY has powered higher this week, but there is divergence between the performance of the JPY and the Nikkei. I am no expert on the JPY pairs at all but this correlation is usually crucial and if it is off sync, I predict trouble for the JPY and we could see JPY strengthening once again across the board.\r\n\r\nThere is previous resistance at 124.20 on monthly charts, that level is still quite a long way off. Pullbacks to 118.50 should be very well supported and that is where I believe the lower end of the USD/JPY range lies.\r\n\r\nFor now I think support at 120.50 and resistance at 121.75 and 122.00 is what should keep our attention.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-15032015-1024x517.png\" alt=\"USDJPY WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – The Annual Budget.\r\n<span style=\"line-height: 1.5;\">WEDNESDAY: USD – FOMC Statement, Projections &amp; Press Conference.\r\n</span><span style=\"line-height: 1.5;\">WEDNESDAY: NZD – GDP.</span>\r\n\r\nTHURSDAY: CHF – SNB Policy Statement &amp; Press Conference.\r\n\r\nFRIDAY: CAD – Core CPi and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis week is all about two items of news in my opinion.\r\n\r\nThe FOMC Monetary Policy Statement, with revised economic projections with Janet Yellen’s Press Conference.\r\n\r\nand\r\n\r\nThe SNB Libor rate announcement and the monetary policy statement, with Governor Mr. Jordan’s Press Conference.\r\n\r\nThere are other snippets of news but these two dominate in my opinion.\r\n\r\nCertainly ahead of the FOMC, I will be lighter than light on LIVE trades. At the time of writing this blog, my thought process is just to have the existing hedged trades open, they are primarily FUNDAMENTAL TRADES.\r\n\r\nIt is without doubt a pivotal week.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?','','inherit','open','closed','','5494-revision-v1','','','2015-03-14 12:46:22','2015-03-14 17:46:22','',5494,'https://weeklyfxdrivethru.com/5494-revision-v1/',0,'revision','',0),(5496,1,'2015-03-14 12:48:47','2015-03-14 17:48:47','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.03.2015\r\nREFERENCE: #51\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">1.1 LOOKING BACKWARD, FORWARD &amp; SIDEWAYS AT THE FX MARKET:</span>\r\n\r\nLooking backward…\r\n\r\nMy main title of the blog last week following the huge moves in the USD was,\r\n\r\n<strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong>\r\n\r\nwell…I got that wrong. The DXY powered onwards and upwards to touch the big triple digit 100.00 and then pulled back. Since that day, we have really just bounced around and range traded.\r\n\r\nWe saw very big moves lower with the cable and on Friday last week the EUR/USD broke below 1.0500. The GBP/USD broke recent lows sub 1.4777 to test 1.4700 and the EUR/USD dropped and took stops below 1.0500. I think that as we have an FOMC statement and the fact that Janet Yellen has a press conference this week to some extent the markets were adjusting positions, squaring off ahead and in anticipation of what the FOMC statement will be. The key of course is whether the word PATIENT is or is not included in the press release.\r\n\r\nThe power of the USD I believe has taken a lot of people by surprise. Most pundits / experts on TV have never seen the USD flex it’s muscles. It has always been generally weak and kept in its box. It has been and continues to defy gravity by some explosive upward moves. I still believe that we should see some consolidation. How high will it go? Potentially up to 125.00. It sounds crazy but with Central Bank divergence between the FED and ECB it is possible. This places the EUR/USD below parity around 0.9000. Yesterday, Goldman Sachs released 2015 and 2016 currency targets for the EUR/USD – they are quoting 0.9000 and 0.8600 as potential targets. Who knows? … watch this space.\r\n\r\nMy mate, Graeme Wheeler (RBNZ Governor), held rates at 3.50% and gave the usual two-sided Press Conference; balancing comments between DOVISH and HAWKISH, just to keep you guessing. My thoughts were more DOVISH, so I shorted the NZD/USD and posted a 48 pip loss. We actually had quite a substantial rally off the lows, of about 250 pips in total, before starting to fall back again in line with USD strength.\r\n\r\nLooking forward….\r\n\r\nThe big news in the past 5 days of trading was the USD (DXY). This makes for a very interesting FOMC day on Wednesday. I will be out of all USD related trades well before the statement is released and unless you are a gambler of the high-stakes tables at Las Vegas I suggest you clear your USD related trades.\r\n\r\nMy approach to Forex is based on a lower risk assessment of each trade. I learnt a long time ago that FX could be a 50-50 gamble on direction. I admit those odds appeal to gamblers, but longevity in trading is what FX is all about and the “Slow and Steady wins the race” approach will always win out.\r\n\r\nMr. Jordan (Thomas Jordan) Governor of the SNB also takes to the stage this week with SNB Libor and a rate/Policy statement. I have to use Mr. for the SNB Governor as following the PEG removal of the EUR/CHF earlier this year, that move has elevated him to the history books…mucho $$$$$$ lost around the world a little profit here and there and thousands of jobs lost as a result. Yup… history book stuff. (Thomas Jordan is Mr. and Graeme Wheeler is my mate). I would strongly suspect that this policy statement from the SNB could be quite interesting given the recent moves in all related CHF pairs except the EUR/CHF. I do NOT want to start rumours but DO NOT rule out the SNB desire to have a new floor / PEG in the EUR/CHF of 1.1000 being announced…just saying. They could also move in increasing the negative deposit rate higher from the current 0.75%. As Peter Frampton would sing do not get caught “Asleep at the wheel”.\r\n\r\nLooking sideways….\r\n\r\nIn eight years of trading, I do not think apart from the 2008/9 crash I have ever witnessed the Forex market being at such extremes. Mark my words, this will end in tears....\r\n<p style=\"text-align: left;\"><em>“Divergences &amp; poor correlations for an extended period = capitulation moves”</em></p>\r\nI do not want to talk about BLACK SWAN events or the like, but the drop in the EUR/USD is now epic. Last May we were at 1.3972. We closed last week at 1.0495… that is 3,477 pips lower in about 9 months given a day or two.\r\n\r\nWe could see the mother of all drops this week if the FOMC announces that rates will still rise prior to the summer.\r\n\r\nThis FOMC news event is so important it will set up the FX market directionally for the next couple of months at the very least. DO NOT RISK YOUR BROKER ACCOUNT BY TRYING TO SECOND GUESS THE FOMC…close all USD related trades ahead of the event. Whatever way the FOMC decides on interest rates there will be opportunities to make lots of pips. The greatest feature and benefit of trading the Forex market is that there are moves everyday and there are opportunities everyday. DO NOT BE A SUCKER giving sucker money to your broker’s wallet.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\"><strong>WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?\r\n</strong><strong>And\r\n</strong><strong>AHEAD OF THE FOMC… THE SMART MONEY IS ALREADY IN CASH</strong></h4>\r\nI have been making notes all week about this week’s article. Before the week started I knew what my subject was going to be, it was just a question of deciding the content as the week progressed. From what I thought I would be writing at the start of the week, to what I am writing now, is about 80% similar. The big difference is that I did not think the FOMC release, (albeit important and market moving), would be such a huge pivotal piece of data, as I believe it is going to be.\r\n\r\nIn the past I have used words and phrases like “CROSSROADS”, “PRECIPICE”, “WHERE THE GRAVEL MEETS THE ROAD” and “THE LINE IN THE SAND” when describing key data releases etc. This Wednesday is one of those crucial days for data. Without doubt this is Janet Yellen’s most crucial few hours as Fed Chair since replacing Ben Bernanke.\r\n\r\nI have a few economic arguments related to the strength of the USD and what the major issues are for the FED. However, before listing these, I want to say that from day one in office, Janet Yellen has stuck to her guns on commentary. She has painstakingly delivered a consistent message to the markets on when she is going to raise interest rates. She moved the markets away from employment percentages to being more reliant on data. She has said consistently of late that movements in interest rates will be data dependent. In fact of late, like many other Central Bank Presidents or Governors she has shown more of a concern over DEFLATION than anything else.\r\n\r\nLets face the facts; there is an economic slowdown. We are bouncing along the bottom, there are NO consistencies of economic growth in the world, China is slowing down and there are divergences all over the markets to ponder.\r\n\r\nIt all comes down to one word from the FOMC statement. If PATIENT is removed the EUR/USD will be crushed through parity within weeks. I know it sounds crazy, but this statement on Wednesday has a lot to do with saving face. The FED has said that interest rates are going to rise in the U.S. If they pullback from this position the USD will get crushed instead. But if the FED rescinds on raising rates no-one will believe a word uttered from them again and the markets will lose what it needs above all else, certainty of FED monetary policy. Uncertainty, which is what will happen if rates do not rise, this would be a huge step back for the markets. Of course, the FED can say that interest rates are still going to rise in 2015 but not before the summer.\r\n\r\nMy view is that the chatter on FED rate increases has reached the point where the FED needs to act, and, above all else, be clear and as unambiguous as possible on future actions.\r\n\r\nI think she will intimate a rate increase of 0.25% to be done June or July and the EUR/USD will get crushed as a result. Previous blogs refer to Central bank divergences; the ECB is accommodative, dovish and interest rates low for years to come. The FED raising rates is hawkish. The divergence will provide a sell-off of huge proportions.\r\n\r\nSo it’s dead simple….\r\n\r\nNot that fast….\r\n\r\nThe FED has the ultimate dilemma.\r\n\r\nThe 800lb gorilla in the room is DEFLATION.\r\n\r\nThe FED does NOT want DEFLATION as the strong USD gives DEFLATION through lower import prices on goods imported into the USA from abroad. How on earth with DEFLATION can the FED achieve its 2% INFLATION target?\r\n\r\nSo basically as I see it Janet Yellen is damned if she doesn’t and damned if she does.\r\n\r\nIf she raises rates like I think she will, the EMERGING MARKETS could be faced with a crash not unlike 1997. The ramification of U.S. monetary policy is felt worldwide.\r\n\r\nIf she doesn’t raise rates, I believe that the markets will see this as a rate cut…stocks will rally and the USD will weaken. But, this places future FED speak into the “yeah right!!” category of do you or don\'t you believe them in the future. This is a risk and Central Bankers do NOT like or take risks. No rate cut would say to the markets that the economic data is so poor, that it my opinion it could lead to another bout of QE…. QE4!!!\r\n\r\nI believe that clever / smart equity market traders will have cashed out many of their positions ahead of the FOMC. Equity markets cash from the U.S. is being placed into the European bourses like the DAX. There are some U.S. investors that are mandated to keep their money in the U.S. I think they will have it in cash at the moment until they see what the FED does.\r\n\r\nThere is uncertainty in the equity markets, in particular the U.S., and it is evident for all to see the divergence between the DAX and S&amp;P.\r\n\r\nWith uncertainty in the U.S. one might expect a flight to safety with GOLD. But I see GOLD as a huge DEFLATION trade at the moment. The higher return in the USD is in direct comparison to China weakness, the ECB QE program and Japanese future economic uncertainty.\r\n\r\nIt is clear-cut in my eyes.\r\n\r\nFrom an equity perspective, the SMART MONEY has reduced positions in U.S. equities.\r\n\r\nFrom an FX perspective, Forex Traders are either going to get a major sell-off or a bounce in the EUR/USD. It is all based on the FED’s interpretation of U.S. economic data. If the FOMC says that interest rates can’t move because the data is still not good enough…. the USD will get crushed and I predict QE4.\r\n\r\nIt is huge decision, some may say gamble because Yellen will NOT want to lose face by not raising interest rates. This could create huge credibility issues moving forward.\r\n\r\nI am in the camp of a June or July rate hike.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong><strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nI mentioned last week, that I am looking at making some changes to my Forex business.\r\n\r\nThese changes will soon be seen on my website, in the structures and formats of my various blogs.\r\n\r\nOver the next 4-6 weeks most of these changes will be completed, the only areas that are causing a few headaches at the moment are those issues relating to space, which are beyond my pay scale and a whole new world to become involved with. Some changes are easier than others to make, and, can be pretty instant to do, while others, in particular, my space issues require more thought and planning. The progress review meetings are still taking place and I am happy so far, although the bigger decisions are still to be made.\r\n\r\nHowever, there are subtle changes made to the blog content this week. These are specifically aimed at my PREMIUM SERVICE subscribers, in section 4.\r\n\r\nBasically, as we know, the closing weekly candles are heavily scrutinised by the major banks in the way that they assess their future FX strategy. This is not just for the coming week but also looking at a run of weekly candles can provide some strong trending data. From this blog onwards, I believe that it would be a good discipline to review these charts each week. I am proposing only the USD majors at this stage. These charts now form part of section 4.7.\r\n\r\nMoving forward this blog will remain, but I can confirm that the section exclusively for PREMIUM SERVICE subscribers will expand. This is only fair when you consider that my subscribers are paying for a service of TRADE SET-UPS plus the bonus of some MARKET ANALYSIS.\r\n\r\nSubscription changes will take place from April 1<sup>st</sup> and I am hoping to be able to show more flexibility in subscription periods but this is to a large extent outside of my control as it is in the hands of PayPal.\r\n\r\nMy process moving forward with the proposed changes involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Please continue to watch this space for updates.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\"><img class=\"aligncenter size-full wp-image-5467\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\" alt=\"PROFIT LOSS RATIO 15032105\" width=\"414\" height=\"585\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\"><img class=\"aligncenter size-full wp-image-5466\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\" alt=\"RISK REWARD 15032015\" width=\"428\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\"><img class=\"aligncenter size-full wp-image-5468\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\" alt=\"PREM SERV PROFITS 1 15032015\" width=\"452\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\"><img class=\"aligncenter size-full wp-image-5469\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\" alt=\"PREM SERV PROFITS2 15032015\" width=\"464\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThere is no EDUCATION article this week .\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW:</span>\r\n\r\nLast week was a great trading week for THE PREMIUM SERVICE. The USD/CHF and GBP/NZD both long trades were the standouts.\r\n\r\nRegarding The USD/CHF, this was the second long trade with this pair in the last 7 or 8 days, from which a core position developed a substantial amount of associated trades. I think at one stage across 5 trading accounts there were over 20 USD/CHF trades LIVE at the same time.\r\n\r\nThe GBP/NZD was the first example this year of the SSP in action. The move triggered 4 long trades for a total of 685 pips. From the first trade to the trade 4 closing price the PREMIUM SERVICE claimed a total of 429 pips. I was very happy with this trade from a technical perspective. One of these trades each week would be just great. One a month is also fine!\r\n\r\nTo compliment these trades several USD major pairs added an average of 30-40 trade profits per trade to turn a previous monthly trade income from a negative into a healthy positive.\r\n\r\nIt is all about consistency. My PREMIUM SERVICE general trading account keeps ticking over. It is only when more than a single lot is risked and the trade concerned turns out to be a losing trade that you have to play catch-up. My old FXCM account could be playing catch up for another three months!\r\n\r\nThe principle of single-lot profitable trading works; it’s all about having the right sized account for a MICRO, MINI or STANDARD LOT approach to gain the success.\r\n\r\nInto this week I carried forward 4 trades all of them hedged. Two of the trades GBP/CAD and GBP/AUD are long FUNDAMENTAL TRADES; the others are EUR/CHF long and long GBP/CHF.\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-15032015.png\"><img class=\"aligncenter size-full wp-image-5477\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-15032015.png\" alt=\"PS LIVE TRADES 15032015\" width=\"723\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-15032105.png\"><img class=\"aligncenter size-full wp-image-5476\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-15032105.png\" alt=\"PS LIMIT ORDERS 15032105\" width=\"717\" height=\"398\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. New from this week onwards are the closing weekly charts for the USD majors that are featured in section 4.7.\r\n\r\nThis section will contain charts related to other pairs. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If these are no comments beneath the charts my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<span style=\"text-decoration: underline;\">EUR/AUD, EUR/CAD (weekly) and EUR/NZD (monthly):</span>\r\n\r\nThese charts below show critical support levels that are almost in play. I think it would be a very brave person to go long these pairs at the moment given the relentless selling of the EUR across the board. However, should the EUR/USD bounce, the reversal moves higher in these pairs could be awesome.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURAUDWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5488\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURAUDWeekly15032015-1024x467.png\" alt=\"EURAUDWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURCADWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5489\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURCADWeekly15032015-1024x467.png\" alt=\"EURCADWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURNZDMonthly15032015.png\"><img class=\"aligncenter size-large wp-image-5490\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURNZDMonthly15032015-1024x467.png\" alt=\"EURNZDMonthly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF (240 minutes):</span>\r\n\r\nWe bounced off horizontal support at 1.4764 last Friday. Watch this pair in relation to the SNB announcement in case they deliver another market moving piece of data. Back above 1.4920 makes me feel that this pair is once again bullish.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHFH415032105.png\"><img class=\"aligncenter size-large wp-image-5492\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHFH415032105-1024x467.png\" alt=\"GBPCHFH415032105\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/NZD (weekly):</span>\r\n\r\nA break below 2.000 could possible be on. I see a long trade opportunity around 1.9850 maybe being the first opportunity, or maybe a deeper pullback to around 1.9400 is on the cards. I do think that a long trade of this pair offers a great risk reward when it sets up.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5493\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDWeekly15032015-1024x467.png\" alt=\"GBPNZDWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">EUR/JPY (weekly), GBP/JPY (daily) and EUR/GBP (60 minutes):</span>\r\n\r\nI am looking to enter short all of these pairs on pullbacks, possibly as soon at the European session tomorrow. At the back of my mind though is the FOMC, and, the question “are we just going to see consolidation ahead of the news?”. I will need to think about this.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-WEEKLY-15032015-1024x517.png\" alt=\"EURJPY WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPJPY-DAILY-15032015.png\"><img class=\"aligncenter size-large wp-image-5483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPJPY-DAILY-15032015-1024x517.png\" alt=\"GBPJPY DAILY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-60M-15032015.png\"><img class=\"aligncenter size-large wp-image-5486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-60M-15032015-1024x517.png\" alt=\"EURGBP 60M 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-15032015.png\"><img class=\"aligncenter size-full wp-image-5475\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-15032015.png\" alt=\"TRENDING PAIRS 15032015\" width=\"396\" height=\"506\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0495.</strong> I never thought that this week I would be writing a EUR/USD exchange rate with a 1.04 handle. Last week I was convinced that we would see a pullback to about 1.1000, from which I would enter short and happy days would ensue for one and all. I know that a few of you just jumped in short the EUR/USD and it has worked out for you. That is NOT my style nor is it in my TRADE PLAN. My PREMIUM SERVICE short entry is at 1.0970. I extended the limit order date for expiry up to the 27<sup>th</sup> March earlier today as I watched the EUR/USD take a death plunge below 1.05 and flush out the stops.\r\n\r\nThe WEEKLY CHART below covers from 2006 to the present day. You can see the down sloping trading range that the EUR/USD has been in since 2007. There is a support horizontal trend line that comes into play at 1.0360 (I cannot get it on the chart as it makes the chart so small it would be impossible to see any detail at all), I think that this is where we are going. However, if the FOMC takes away PATIENT from the statement this Wednesday we are heading to parity in probably a few weeks. This 1.0360 support will be irrelevant and the Goldman Sachs target of sub 0.9000 becomes very much a thought to seriously consider.\r\n\r\nSupport is at 1.0360 and resistance at 1.0665.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-15032015-1024x517.png\" alt=\"EURUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.4740</strong>. Wow, it very much looks like the GBP/USD is heading for low 1.40’s very soon. The WEEKLY CHART below shows the Fibonacci 127% extension support at 1.4162. I cannot see me obtaining a pullback to 1.5200 to enter short somehow. I will have to revise my short entry when I see if the cable bounces in sympathy with the EUR/USD, assuming we get a bounce! The general election uncertainty is starting to weigh in on the cable. George Osborne (UK Chancellor) delivers his budget this week and this potentially could be another banana skin for GBP/USD.\r\n\r\nInitial support is at 1.4700 and resistance at 1.4777.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-15032015-1024x517.png\" alt=\"GBPUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7633</strong>. Below 0.7600 and it is almost plain sailing all the way to 0.7100. It all depends on the FOMC. There are very strong rumours of an RBA Rate cut next month. But that is along time away from the present. There is some support at 0.7560-65 that may offer something but in real terms if we continue to fall below 0.7600 it could pick up speed to 0.7230, where there is a Fibonacci confluence then obviously the RBA objective from a while back of 0.7000 is just below.\r\n\r\nSupport is at 0.7560 and resistance at 0.7740.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-15032015-1024x517.png\" alt=\"AUDUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7312</strong>. When you look at the WEEKLY CHART below the government target of an exchange rate of 0.6500 does not look too far away. In fact, I believe once at 0.7000 it could be quite a swift move lower. For now however there are a few key levels to break. Right now as you can see from the chart below we have a clear trading range of 0.7170 to 0.7620.\r\n\r\nSupport is good at 0.7250 and resistance is strong at 0.7360 and then at 0.7420.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-15032015-1024x517.png\" alt=\"NZDUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2778.</strong> Crude oil is really heavily influencing this pair. There was a nice drop in oil prices on Friday last week and despite better than expected Employment data on Friday morning the CAD weakened and rose to above 1.2800 before pulling back a little. One thing that is noticeable from the WEEKLY CHART below is that we have made a cup from a potential cup and handle formation. If we did form a cup and handle formation we are looking at 1.6000+.\r\n\r\nThe move higher off 1.0750 – 1.0800 is just pure power. It is obvious to me that another re-test of 1.3060 is on the cards and then who knows where. There is a flag pattern on the chart with a potential measured move to 1.4000.\r\n\r\nSupport is good at 1.2750 and resistance is at 1.2800-25 then 1.3000 looms again.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5480\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-15032015-1024x517.png\" alt=\"USDCAD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong>USD/CHF: Closing Price 1.0043</strong>. This has been my trading pair of the year so far. After the EUR/CHF peg was removed this pair has been like a stealth pair rising back from the ashes to parity. We have had two failures now at just above 1.0100. The chart below shows the rise since the CHF peg removal on the EUR/CHF. The target that I am working to is the pre PEG removal 1.0230. But for now this looks a tough nut to crack. However, should the EUR/USD drop like a lead balloon, I would expect the USD/CHF to pass 1.0250. This would be aided by SNB action on negative interest rates.\r\n\r\nSupport is at 0.9970 and resistance at 1.0125.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-CHART-15032015.png\"><img class=\"aligncenter size-large wp-image-5479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-CHART-15032015-1024x517.png\" alt=\"USDCHF WEEKLY CHART 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 121.39. </strong> The USD/JPY has powered higher this week, but there is divergence between the performance of the JPY and the Nikkei. I am no expert on the JPY pairs at all but this correlation is usually crucial and if it is off sync, I predict trouble for the JPY and we could see JPY strengthening once again across the board.\r\n\r\nThere is previous resistance at 124.20 on monthly charts, that level is still quite a long way off. Pullbacks to 118.50 should be very well supported and that is where I believe the lower end of the USD/JPY range lies.\r\n\r\nFor now I think support at 120.50 and resistance at 121.75 and 122.00 is what should keep our attention.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-15032015-1024x517.png\" alt=\"USDJPY WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – The Annual Budget.\r\n<span style=\"line-height: 1.5;\">WEDNESDAY: USD – FOMC Statement, Projections &amp; Press Conference.\r\n</span><span style=\"line-height: 1.5;\">WEDNESDAY: NZD – GDP.</span>\r\n\r\nTHURSDAY: CHF – SNB Policy Statement &amp; Press Conference.\r\n\r\nFRIDAY: CAD – Core CPi and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis week is all about two items of news in my opinion.\r\n\r\nThe FOMC Monetary Policy Statement, with revised economic projections with Janet Yellen’s Press Conference.\r\n\r\nand\r\n\r\nThe SNB Libor rate announcement and the monetary policy statement, with Governor Mr. Jordan’s Press Conference.\r\n\r\nThere are other snippets of news but these two dominate in my opinion.\r\n\r\nCertainly ahead of the FOMC, I will be lighter than light on LIVE trades. At the time of writing this blog, my thought process is just to have the existing hedged trades open, they are primarily FUNDAMENTAL TRADES.\r\n\r\nIt is without doubt a pivotal week.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?','','inherit','open','closed','','5494-revision-v1','','','2015-03-14 12:48:47','2015-03-14 17:48:47','',5494,'https://weeklyfxdrivethru.com/5494-revision-v1/',0,'revision','',0),(5497,1,'2015-03-14 16:40:35','2015-03-14 21:40:35','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot $$$$ Trading.\r\nThis year to date, the profits are now in excess of <span style=\"text-decoration: underline;\">$30,000.00</span> from 139 completed trades.</strong></h3>\r\n<strong>DATE: 15.03.2015\r\nREFERENCE: #143\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">1.1 LOOKING BACKWARD, FORWARD &amp; SIDEWAYS AT THE FX MARKET:</span>\r\n\r\nLooking backward…\r\n\r\nMy main title of the blog last week following the huge moves in the USD was,\r\n\r\n<strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong>\r\n\r\nwell…I got that wrong. The DXY powered onwards and upwards to touch the big triple digit 100.00 and then pulled back. Since that day, we have really just bounced around and range traded.\r\n\r\nWe saw very big moves lower with the cable and on Friday last week the EUR/USD broke below 1.0500. The GBP/USD broke recent lows sub 1.4777 to test 1.4700 and the EUR/USD dropped and took stops below 1.0500. I think that as we have an FOMC statement and the fact that Janet Yellen has a press conference this week to some extent the markets were adjusting positions, squaring off ahead and in anticipation of what the FOMC statement will be. The key of course is whether the word PATIENT is or is not included in the press release.\r\n\r\nThe power of the USD I believe has taken a lot of people by surprise. Most pundits / experts on TV have never seen the USD flex it’s muscles. It has always been generally weak and kept in its box. It has been and continues to defy gravity by some explosive upward moves. I still believe that we should see some consolidation. How high will it go? Potentially up to 125.00. It sounds crazy but with Central Bank divergence between the FED and ECB it is possible. This places the EUR/USD below parity around 0.9000. Yesterday, Goldman Sachs released 2015 and 2016 currency targets for the EUR/USD – they are quoting 0.9000 and 0.8600 as potential targets. Who knows? … watch this space.\r\n\r\nMy mate, Graeme Wheeler (RBNZ Governor), held rates at 3.50% and gave the usual two-sided Press Conference; balancing comments between DOVISH and HAWKISH, just to keep you guessing. My thoughts were more DOVISH, so I shorted the NZD/USD and posted a 48 pip loss. We actually had quite a substantial rally off the lows, of about 250 pips in total, before starting to fall back again in line with USD strength.\r\n\r\nLooking forward….\r\n\r\nThe big news in the past 5 days of trading was the USD (DXY). This makes for a very interesting FOMC day on Wednesday. I will be out of all USD related trades well before the statement is released and unless you are a gambler of the high-stakes tables at Las Vegas I suggest you clear your USD related trades\r\n\r\nMy approach to Forex is based on a lower risk assessment of each trade. I learnt a long time ago that FX could be a 50-50 gamble on direction. I admit those odds appeal to gamblers, but longevity in trading is what FX is all about and the “Slow and Steady wins the race” approach will always win out.\r\n\r\nMr. Jordan (Thomas Jordan) Governor of the SNB also takes to the stage this week with SNB Libor and a rate/Policy statement. I have to use Mr. for the SNB Governor as following the PEG removal of the EUR/CHF earlier this year, that move has elevated him to the history books…mucho $$$$$$ lost around the world a little profit here and there and thousands of jobs lost as a result. Yup… history book stuff. (Thomas Jordan is Mr. and Graeme Wheeler is my mate). I would strongly suspect that this policy statement from the SNB could be quite interesting given the recent moves in all related CHF pairs except the EUR/CHF. I do NOT want to start rumours but DO NOT rule out the SNB desire to have a new floor / PEG in the EUR/CHF of 1.1000 being announced…just saying. They could also move in increasing the negative deposit rate higher from the current 0.75%. As Peter Frampton would sing do not get caught “Asleep at the wheel”.\r\n\r\nLooking sideways….\r\n\r\nIn eight years of trading, I do not think apart from the 2008/9 crash I have ever witnessed the Forex market being at such extremes. Mark my words, this will end in tears....\r\n\r\n<em>“Divergences &amp; poor correlations for an extended period = capitulation moves”</em>\r\n\r\nI do not want to talk about BLACK SWAN events or the like, but the drop in the EUR/USD is now epic. Last May we were at 1.3972. We closed last week at 1.0495… that is 3,477 pips lower in about 9 months given a day or two.\r\n\r\nWe could see the mother of all drops this week if the FOMC announces that rates will still rise prior to the summer.\r\n\r\nThis FOMC news event is so important it will set up the FX market directionally for the next couple of months at the very least. DO NOT RISK YOUR BROKER ACCOUNT BY TRYING TO SECOND GUESS THE FOMC…close all USD related trades ahead of the event. Whatever way the FOMC decides on interest rates there will be opportunities to make lots of pips. The greatest feature and benefit of trading the Forex market is that there are moves everyday and there are opportunities everyday. DO NOT BE A SUCKER giving sucker money to your broker’s wallet.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?\r\n</strong><strong>And\r\n</strong><strong>AHEAD OF THE FOMC… THE SMART MONEY IS ALREADY IN CASH</strong></p>\r\nI have been making notes all week about this week’s article. Before the week started I knew what my subject was going to be, it was just a question of deciding the content as the week progressed. From what I thought I would be writing at the start of the week, to what I am writing now, is about 80% similar. The big difference is that I did not think the FOMC release, (albeit important and market moving), would be such a huge pivotal piece of data, as I believe it is going to be.\r\n\r\nIn the past I have used words and phrases like “CROSSROADS”, “PRECIPICE”, “WHERE THE GRAVEL MEETS THE ROAD” and “THE LINE IN THE SAND” when describing key data releases etc. This Wednesday is one of those crucial days for data. Without doubt this is Janet Yellen’s most crucial few hours as Fed Chair since replacing Ben Bernanke.\r\n\r\nI have a few economic arguments related to the strength of the USD and what the major issues are for the FED. However, before listing these, I want to say that from day one in office, Janet Yellen has stuck to her guns on commentary. She has painstakingly delivered a consistent message to the markets on when she is going to raise interest rates. She moved the markets away from employment percentages to being more reliant on data. She has said consistently of late that movements in interest rates will be data dependent. In fact of late, like many other Central Bank Presidents or Governors she has shown more of a concern over DEFLATION than anything else.\r\n\r\nLets face the facts; there is an economic slowdown. We are bouncing along the bottom, there are NO consistencies of economic growth in the world, China is slowing down and there are divergences all over the markets to ponder.\r\n\r\nIt all comes down to one word from the FOMC statement. If PATIENT is removed the EUR/USD will be crushed through parity within weeks. I know it sounds crazy, but this statement on Wednesday has a lot to do with saving face. The FED has said that interest rates are going to rise in the U.S. If they pullback from this position the USD will get crushed instead. But if the FED rescinds on raising rates no-one will believe a word uttered from them again and the markets will lose what it needs above all else, certainty of FED monetary policy. Uncertainty, which is what will happen if rates do not rise, this would be a huge step back for the markets. Of course, the FED can say that interest rates are still going to rise in 2015 but not before the summer.\r\n\r\nMy view is that the chatter on FED rate increases has reached the point where the FED needs to act, and, above all else, be clear and as unambiguous as possible on future actions.\r\n\r\nI think she will intimate a rate increase of 0.25% to be done June or July and the EUR/USD will get crushed as a result. Previous blogs refer to Central bank divergences; the ECB is accommodative, dovish and interest rates low for years to come. The FED raising rates is hawkish. The divergence will provide a sell-off of huge proportions.\r\n\r\nSo it’s dead simple….\r\n\r\nNot that fast….\r\n\r\nThe FED has the ultimate dilemma.\r\n\r\nThe 800lb gorilla in the room is DEFLATION.\r\n\r\nThe FED does NOT want DEFLATION as the strong USD gives DEFLATION through lower import prices on goods imported into the USA from abroad. How on earth with DEFLATION can the FED achieve its 2% INFLATION target?\r\n\r\nSo basically as I see it Janet Yellen is damned if she doesn’t and damned if she does.\r\n\r\nIf she raises rates like I think she will, the EMERGING MARKETS could be faced with a crash not unlike 1997. The ramification of U.S. monetary policy is felt worldwide.\r\n\r\nIf she doesn’t raise rates, I believe that the markets will see this as a rate cut…stocks will rally and the USD will weaken. But, this places future FED speak into the “yeah right!!” category of do you or don\'t you believe them in the future. This is a risk and Central Bankers do NOT like or take risks. No rate cut would say to the markets that the economic data is so poor, that it my opinion it could lead to another bout of QE…. QE4!!!\r\n\r\nI believe that clever / smart equity market traders will have cashed out many of their positions ahead of the FOMC. Equity markets cash from the U.S. is being placed into the European bourses like the DAX. There are some U.S. investors that are mandated to keep their money in the U.S. I think they will have it in cash at the moment until they see what the FED does.\r\n\r\nThere is uncertainty in the equity markets, in particular the U.S., and it is evident for all to see the divergence between the DAX and S&amp;P.\r\n\r\nWith uncertainty in the U.S. one might expect a flight to safety with GOLD. But I see GOLD as a huge DEFLATION trade at the moment. The higher return in the USD is in direct comparison to China weakness, the ECB QE program and Japanese future economic uncertainty.\r\n\r\nIt is clear-cut in my eyes.\r\n\r\nFrom an equity perspective, the SMART MONEY has reduced positions in U.S. equities.\r\n\r\nFrom an FX perspective, Forex Traders are either going to get a major sell-off or a bounce in the EUR/USD. It is all based on the FED’s interpretation of U.S. economic data. If the FOMC says that interest rates can’t move because the data is still not good enough…. the USD will get crushed and I predict QE4.\r\n\r\nIt is huge decision, some may say gamble because Yellen will NOT want to lose face by not raising interest rates. This could create huge credibility issues moving forward.\r\n\r\nI am in the camp of a June or July rate hike.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<p style=\"text-align: center;\"><strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n(Please note these will be increased with effect from April 1st 2015)</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nI mentioned last week, that I am looking at making some changes to my Forex business.\r\n\r\nThese changes will soon be seen on my website, in the structures and formats of my various blogs.\r\n\r\nOver the next 4-6 weeks most of these changes will be completed, the only areas that are causing a few headaches at the moment are those issues relating to space, which are beyond my pay scale and a whole new world to become involved with. Some changes are easier than others to make, and, can be pretty instant to do, while others, in particular, my space issues require more thought and planning. The progress review meetings are still taking place and I am happy so far, although the bigger decisions are still to be made.\r\n\r\nHowever, there are subtle changes made to the blog content this week. These are specifically aimed at my PREMIUM SERVICE subscribers, in section 4.\r\n\r\nBasically, as we know, the closing weekly candles are heavily scrutinised by the major banks in the way that they assess their future FX strategy. This is not just for the coming week but also looking at a run of weekly candles can provide some strong trending data. From this blog onwards, I believe that it would be a good discipline to review these charts each week. I am proposing only the USD majors at this stage. These charts now form part of section 4.7.\r\n\r\nMoving forward this blog will remain, but I can confirm that the section exclusively for PREMIUM SERVICE subscribers will expand. This is only fair when you consider that my subscribers are paying for a service of TRADE SET-UPS plus the bonus of some MARKET ANALYSIS.\r\n\r\nSubscription changes will take place from April 1<sup>st</sup> and I am hoping to be able to show more flexibility in subscription periods but this is to a large extent outside of my control as it is in the hands of PayPal.\r\n\r\nMy process moving forward with the proposed changes involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Please continue to watch this space for updates.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\"><img class=\"aligncenter size-full wp-image-5467\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\" alt=\"PROFIT LOSS RATIO 15032105\" width=\"414\" height=\"585\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\"><img class=\"aligncenter size-full wp-image-5466\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\" alt=\"RISK REWARD 15032015\" width=\"428\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\"><img class=\"aligncenter size-full wp-image-5468\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\" alt=\"PREM SERV PROFITS 1 15032015\" width=\"452\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\"><img class=\"aligncenter size-full wp-image-5469\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\" alt=\"PREM SERV PROFITS2 15032015\" width=\"464\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW</span><strong><span style=\"text-decoration: underline;\"> </span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – The Annual Budget.\r\nWEDNESDAY: USD – FOMC Statement, Projections &amp; Press Conference.\r\nWEDNESDAY: NZD – GDP.\r\n\r\nTHURSDAY: CHF – SNB Policy Statement &amp; Press Conference.\r\n\r\nFRIDAY: CAD – Core CPi and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis week is all about two items of news in my opinion.\r\n\r\nThe FOMC Monetary Policy Statement, with revised economic projections with Janet Yellen’s Press Conference.\r\n\r\nand\r\n\r\nThe SNB Libor rate announcement and the monetary policy statement, with Governor Mr. Jordan’s Press Conference.\r\n\r\nThere are other snippets of news but these two dominate in my opinion.\r\n\r\nCertainly ahead of the FOMC, I will be lighter than light on LIVE trades. At the time of writing this blog, my thought process is just to have the existing hedged trades open, they are primarily FUNDAMENTAL TRADES.\r\n\r\nIt is without doubt a pivotal week.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?','','publish','open','closed','','will-the-fomc-break-the-eurusd-on-wednesday','','','2015-03-14 16:40:35','2015-03-14 21:40:35','',0,'https://weeklyfxdrivethru.com/?p=5497',0,'post','',0),(5498,1,'2015-03-14 13:06:05','2015-03-14 18:06:05','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot $$$$ Trading.\r\nThis year to date, the profits are now in excess of <span style=\"text-decoration: underline;\">$30,000.00</span> from 139 completed trades.</strong></h3>\r\n<strong>DATE: 15.03.2015\r\nREFERENCE: #143\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">1.1 LOOKING BACKWARD, FORWARD &amp; SIDEWAYS AT THE FX MARKET:</span>\r\n\r\nLooking backward…\r\n\r\nMy main title of the blog last week following the huge moves in the USD was,\r\n\r\n<strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong>\r\n\r\nwell…I got that wrong. The DXY powered onwards and upwards to touch the big triple digit 100.00 and then pulled back. Since that day, we have really just bounced around and range traded.\r\n\r\nWe saw very big moves lower with the cable and on Friday last week the EUR/USD broke below 1.0500. The GBP/USD broke recent lows sub 1.4777 to test 1.4700 and the EUR/USD dropped and took stops below 1.0500. I think that as we have an FOMC statement and the fact that Janet Yellen has a press conference this week to some extent the markets were adjusting positions, squaring off ahead and in anticipation of what the FOMC statement will be. The key of course is whether the word PATIENT is or is not included in the press release.\r\n\r\nThe power of the USD I believe has taken a lot of people by surprise. Most pundits / experts on TV have never seen the USD flex it’s muscles. It has always been generally weak and kept in its box. It has been and continues to defy gravity by some explosive upward moves. I still believe that we should see some consolidation. How high will it go? Potentially up to 125.00. It sounds crazy but with Central Bank divergence between the FED and ECB it is possible. This places the EUR/USD below parity around 0.9000. Yesterday, Goldman Sachs released 2015 and 2016 currency targets for the EUR/USD – they are quoting 0.9000 and 0.8600 as potential targets. Who knows? … watch this space.\r\n\r\nMy mate, Graeme Wheeler (RBNZ Governor), held rates at 3.50% and gave the usual two-sided Press Conference; balancing comments between DOVISH and HAWKISH, just to keep you guessing. My thoughts were more DOVISH, so I shorted the NZD/USD and posted a 48 pip loss. We actually had quite a substantial rally off the lows, of about 250 pips in total, before starting to fall back again in line with USD strength.\r\n\r\nLooking forward….\r\n\r\nThe big news in the past 5 days of trading was the USD (DXY). This makes for a very interesting FOMC day on Wednesday. I will be out of all USD related trades well before the statement is released and unless you are a gambler of the high-stakes tables at Las Vegas I suggest you clear your USD related trades\r\n\r\nMy approach to Forex is based on a lower risk assessment of each trade. I learnt a long time ago that FX could be a 50-50 gamble on direction. I admit those odds appeal to gamblers, but longevity in trading is what FX is all about and the “Slow and Steady wins the race” approach will always win out.\r\n\r\nMr. Jordan (Thomas Jordan) Governor of the SNB also takes to the stage this week with SNB Libor and a rate/Policy statement. I have to use Mr. for the SNB Governor as following the PEG removal of the EUR/CHF earlier this year, that move has elevated him to the history books…mucho $$$$$$ lost around the world a little profit here and there and thousands of jobs lost as a result. Yup… history book stuff. (Thomas Jordan is Mr. and Graeme Wheeler is my mate). I would strongly suspect that this policy statement from the SNB could be quite interesting given the recent moves in all related CHF pairs except the EUR/CHF. I do NOT want to start rumours but DO NOT rule out the SNB desire to have a new floor / PEG in the EUR/CHF of 1.1000 being announced…just saying. They could also move in increasing the negative deposit rate higher from the current 0.75%. As Peter Frampton would sing do not get caught “Asleep at the wheel”.\r\n\r\nLooking sideways….\r\n\r\nIn eight years of trading, I do not think apart from the 2008/9 crash I have ever witnessed the Forex market being at such extremes. Mark my words, this will end in tears....\r\n\r\n<em>“Divergences &amp; poor correlations for an extended period = capitulation moves”</em>\r\n\r\nI do not want to talk about BLACK SWAN events or the like, but the drop in the EUR/USD is now epic. Last May we were at 1.3972. We closed last week at 1.0495… that is 3,477 pips lower in about 9 months given a day or two.\r\n\r\nWe could see the mother of all drops this week if the FOMC announces that rates will still rise prior to the summer.\r\n\r\nThis FOMC news event is so important it will set up the FX market directionally for the next couple of months at the very least. DO NOT RISK YOUR BROKER ACCOUNT BY TRYING TO SECOND GUESS THE FOMC…close all USD related trades ahead of the event. Whatever way the FOMC decides on interest rates there will be opportunities to make lots of pips. The greatest feature and benefit of trading the Forex market is that there are moves everyday and there are opportunities everyday. DO NOT BE A SUCKER giving sucker money to your broker’s wallet.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?\r\n</strong><strong>And\r\n</strong><strong>AHEAD OF THE FOMC… THE SMART MONEY IS ALREADY IN CASH</strong></p>\r\nI have been making notes all week about this week’s article. Before the week started I knew what my subject was going to be, it was just a question of deciding the content as the week progressed. From what I thought I would be writing at the start of the week, to what I am writing now, is about 80% similar. The big difference is that I did not think the FOMC release, (albeit important and market moving), would be such a huge pivotal piece of data, as I believe it is going to be.\r\n\r\nIn the past I have used words and phrases like “CROSSROADS”, “PRECIPICE”, “WHERE THE GRAVEL MEETS THE ROAD” and “THE LINE IN THE SAND” when describing key data releases etc. This Wednesday is one of those crucial days for data. Without doubt this is Janet Yellen’s most crucial few hours as Fed Chair since replacing Ben Bernanke.\r\n\r\nI have a few economic arguments related to the strength of the USD and what the major issues are for the FED. However, before listing these, I want to say that from day one in office, Janet Yellen has stuck to her guns on commentary. She has painstakingly delivered a consistent message to the markets on when she is going to raise interest rates. She moved the markets away from employment percentages to being more reliant on data. She has said consistently of late that movements in interest rates will be data dependent. In fact of late, like many other Central Bank Presidents or Governors she has shown more of a concern over DEFLATION than anything else.\r\n\r\nLets face the facts; there is an economic slowdown. We are bouncing along the bottom, there are NO consistencies of economic growth in the world, China is slowing down and there are divergences all over the markets to ponder.\r\n\r\nIt all comes down to one word from the FOMC statement. If PATIENT is removed the EUR/USD will be crushed through parity within weeks. I know it sounds crazy, but this statement on Wednesday has a lot to do with saving face. The FED has said that interest rates are going to rise in the U.S. If they pullback from this position the USD will get crushed instead. But if the FED rescinds on raising rates no-one will believe a word uttered from them again and the markets will lose what it needs above all else, certainty of FED monetary policy. Uncertainty, which is what will happen if rates do not rise, this would be a huge step back for the markets. Of course, the FED can say that interest rates are still going to rise in 2015 but not before the summer.\r\n\r\nMy view is that the chatter on FED rate increases has reached the point where the FED needs to act, and, above all else, be clear and as unambiguous as possible on future actions.\r\n\r\nI think she will intimate a rate increase of 0.25% to be done June or July and the EUR/USD will get crushed as a result. Previous blogs refer to Central bank divergences; the ECB is accommodative, dovish and interest rates low for years to come. The FED raising rates is hawkish. The divergence will provide a sell-off of huge proportions.\r\n\r\nSo it’s dead simple….\r\n\r\nNot that fast….\r\n\r\nThe FED has the ultimate dilemma.\r\n\r\nThe 800lb gorilla in the room is DEFLATION.\r\n\r\nThe FED does NOT want DEFLATION as the strong USD gives DEFLATION through lower import prices on goods imported into the USA from abroad. How on earth with DEFLATION can the FED achieve its 2% INFLATION target?\r\n\r\nSo basically as I see it Janet Yellen is dammed if she doesn’t and dammed if she does.\r\n\r\nIf she raises rates like I think she will, the EMERGING MARKETS could be faced with a crash not unlike 1997. The ramification of U.S. monetary policy is felt worldwide.\r\n\r\nIf she doesn’t raise rates, I believe that the markets will see this as a rate cut…stocks will rally and the USD will weaken. But, this places future FED speak into the “yeah right!!” category of do you or don\'t you believe them in the future. This is a risk and Central Bankers do NOT like or take risks. No rate cut would say to the markets that the economic data is so poor, that it my opinion it could lead to another bout of QE…. QE4!!!\r\n\r\nI believe that clever / smart equity market traders will have cashed out many of their positions ahead of the FOMC. Equity markets cash from the U.S. is being placed into the European bourses like the DAX. There are some U.S. investors that are mandated to keep their money in the U.S. I think they will have it in cash at the moment until they see what the FED does.\r\n\r\nThere is uncertainty in the equity markets, in particular the U.S., and it is evident for all to see the divergence between the DAX and S&amp;P.\r\n\r\nWith uncertainty in the U.S. one might expect a flight to safety with GOLD. But I see GOLD as a huge DEFLATION trade at the moment. The higher return in the USD is in direct comparison to China weakness, the ECB QE program and Japanese future economic uncertainty.\r\n\r\nIt is clear-cut in my eyes.\r\n\r\nFrom an equity perspective, the SMART MONEY has reduced positions in U.S. equities.\r\n\r\nFrom an FX perspective, Forex Traders are either going to get a major sell-off or a bounce in the EUR/USD. It is all based on the FED’s interpretation of U.S. economic data. If the FOMC says that interest rates can’t move because the data is still not good enough…. the USD will get crushed and I predict QE4.\r\n\r\nIt is huge decision, some may say gamble because Yellen will NOT want to lose face by not raising interest rates. This could create huge credibility issues moving forward.\r\n\r\nI am in the camp of a June or July rate hike.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n(Please note these will be increased with effect from April 1st 2015)</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nI mentioned last week, that I am looking at making some changes to my Forex business.\r\n\r\nThese changes will soon be seen on my website, in the structures and formats of my various blogs.\r\n\r\nOver the next 4-6 weeks most of these changes will be completed, the only areas that are causing a few headaches at the moment are those issues relating to space, which are beyond my pay scale and a whole new world to become involved with. Some changes are easier than others to make, and, can be pretty instant to do, while others, in particular, my space issues require more thought and planning. The progress review meetings are still taking place and I am happy so far, although the bigger decisions are still to be made.\r\n\r\nHowever, there are subtle changes made to the blog content this week. These are specifically aimed at my PREMIUM SERVICE subscribers, in section 4.\r\n\r\nBasically, as we know, the closing weekly candles are heavily scrutinised by the major banks in the way that they assess their future FX strategy. This is not just for the coming week but also looking at a run of weekly candles can provide some strong trending data. From this blog onwards, I believe that it would be a good discipline to review these charts each week. I am proposing only the USD majors at this stage. These charts now form part of section 4.7.\r\n\r\nMoving forward this blog will remain, but I can confirm that the section exclusively for PREMIUM SERVICE subscribers will expand. This is only fair when you consider that my subscribers are paying for a service of TRADE SET-UPS plus the bonus of some MARKET ANALYSIS.\r\n\r\nSubscription changes will take place from April 1<sup>st</sup> and I am hoping to be able to show more flexibility in subscription periods but this is to a large extent outside of my control as it is in the hands of PayPal.\r\n\r\nMy process moving forward with the proposed changes involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Please continue to watch this space for updates.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\"><img class=\"aligncenter size-full wp-image-5467\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\" alt=\"PROFIT LOSS RATIO 15032105\" width=\"414\" height=\"585\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\"><img class=\"aligncenter size-full wp-image-5466\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\" alt=\"RISK REWARD 15032015\" width=\"428\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\"><img class=\"aligncenter size-full wp-image-5468\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\" alt=\"PREM SERV PROFITS 1 15032015\" width=\"452\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\"><img class=\"aligncenter size-full wp-image-5469\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\" alt=\"PREM SERV PROFITS2 15032015\" width=\"464\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW</span><strong><span style=\"text-decoration: underline;\"> </span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – The Annual Budget.\r\nWEDNESDAY: USD – FOMC Statement, Projections &amp; Press Conference.\r\nWEDNESDAY: NZD – GDP.\r\n\r\nTHURSDAY: CHF – SNB Policy Statement &amp; Press Conference.\r\n\r\nFRIDAY: CAD – Core CPi and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis week is all about two items of news in my opinion.\r\n\r\nThe FOMC Monetary Policy Statement, with revised economic projections with Janet Yellen’s Press Conference.\r\n\r\nand\r\n\r\nThe SNB Libor rate announcement and the monetary policy statement, with Governor Mr. Jordan’s Press Conference.\r\n\r\nThere are other snippets of news but these two dominate in my opinion.\r\n\r\nCertainly ahead of the FOMC, I will be lighter than light on LIVE trades. At the time of writing this blog, my thought process is just to have the existing hedged trades open, they are primarily FUNDAMENTAL TRADES.\r\n\r\nIt is without doubt a pivotal week.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?','','inherit','open','closed','','5497-revision-v1','','','2015-03-14 13:06:05','2015-03-14 18:06:05','',5497,'https://weeklyfxdrivethru.com/5497-revision-v1/',0,'revision','',0),(5499,1,'2015-03-14 13:07:28','2015-03-14 18:07:28','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot $$$$ Trading.\r\nThis year to date, the profits are now in excess of <span style=\"text-decoration: underline;\">$30,000.00</span> from 139 completed trades.</strong></h3>\r\n<strong>DATE: 15.03.2015\r\nREFERENCE: #143\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">1.1 LOOKING BACKWARD, FORWARD &amp; SIDEWAYS AT THE FX MARKET:</span>\r\n\r\nLooking backward…\r\n\r\nMy main title of the blog last week following the huge moves in the USD was,\r\n\r\n<strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong>\r\n\r\nwell…I got that wrong. The DXY powered onwards and upwards to touch the big triple digit 100.00 and then pulled back. Since that day, we have really just bounced around and range traded.\r\n\r\nWe saw very big moves lower with the cable and on Friday last week the EUR/USD broke below 1.0500. The GBP/USD broke recent lows sub 1.4777 to test 1.4700 and the EUR/USD dropped and took stops below 1.0500. I think that as we have an FOMC statement and the fact that Janet Yellen has a press conference this week to some extent the markets were adjusting positions, squaring off ahead and in anticipation of what the FOMC statement will be. The key of course is whether the word PATIENT is or is not included in the press release.\r\n\r\nThe power of the USD I believe has taken a lot of people by surprise. Most pundits / experts on TV have never seen the USD flex it’s muscles. It has always been generally weak and kept in its box. It has been and continues to defy gravity by some explosive upward moves. I still believe that we should see some consolidation. How high will it go? Potentially up to 125.00. It sounds crazy but with Central Bank divergence between the FED and ECB it is possible. This places the EUR/USD below parity around 0.9000. Yesterday, Goldman Sachs released 2015 and 2016 currency targets for the EUR/USD – they are quoting 0.9000 and 0.8600 as potential targets. Who knows? … watch this space.\r\n\r\nMy mate, Graeme Wheeler (RBNZ Governor), held rates at 3.50% and gave the usual two-sided Press Conference; balancing comments between DOVISH and HAWKISH, just to keep you guessing. My thoughts were more DOVISH, so I shorted the NZD/USD and posted a 48 pip loss. We actually had quite a substantial rally off the lows, of about 250 pips in total, before starting to fall back again in line with USD strength.\r\n\r\nLooking forward….\r\n\r\nThe big news in the past 5 days of trading was the USD (DXY). This makes for a very interesting FOMC day on Wednesday. I will be out of all USD related trades well before the statement is released and unless you are a gambler of the high-stakes tables at Las Vegas I suggest you clear your USD related trades\r\n\r\nMy approach to Forex is based on a lower risk assessment of each trade. I learnt a long time ago that FX could be a 50-50 gamble on direction. I admit those odds appeal to gamblers, but longevity in trading is what FX is all about and the “Slow and Steady wins the race” approach will always win out.\r\n\r\nMr. Jordan (Thomas Jordan) Governor of the SNB also takes to the stage this week with SNB Libor and a rate/Policy statement. I have to use Mr. for the SNB Governor as following the PEG removal of the EUR/CHF earlier this year, that move has elevated him to the history books…mucho $$$$$$ lost around the world a little profit here and there and thousands of jobs lost as a result. Yup… history book stuff. (Thomas Jordan is Mr. and Graeme Wheeler is my mate). I would strongly suspect that this policy statement from the SNB could be quite interesting given the recent moves in all related CHF pairs except the EUR/CHF. I do NOT want to start rumours but DO NOT rule out the SNB desire to have a new floor / PEG in the EUR/CHF of 1.1000 being announced…just saying. They could also move in increasing the negative deposit rate higher from the current 0.75%. As Peter Frampton would sing do not get caught “Asleep at the wheel”.\r\n\r\nLooking sideways….\r\n\r\nIn eight years of trading, I do not think apart from the 2008/9 crash I have ever witnessed the Forex market being at such extremes. Mark my words, this will end in tears....\r\n\r\n<em>“Divergences &amp; poor correlations for an extended period = capitulation moves”</em>\r\n\r\nI do not want to talk about BLACK SWAN events or the like, but the drop in the EUR/USD is now epic. Last May we were at 1.3972. We closed last week at 1.0495… that is 3,477 pips lower in about 9 months given a day or two.\r\n\r\nWe could see the mother of all drops this week if the FOMC announces that rates will still rise prior to the summer.\r\n\r\nThis FOMC news event is so important it will set up the FX market directionally for the next couple of months at the very least. DO NOT RISK YOUR BROKER ACCOUNT BY TRYING TO SECOND GUESS THE FOMC…close all USD related trades ahead of the event. Whatever way the FOMC decides on interest rates there will be opportunities to make lots of pips. The greatest feature and benefit of trading the Forex market is that there are moves everyday and there are opportunities everyday. DO NOT BE A SUCKER giving sucker money to your broker’s wallet.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?\r\n</strong><strong>And\r\n</strong><strong>AHEAD OF THE FOMC… THE SMART MONEY IS ALREADY IN CASH</strong></p>\r\nI have been making notes all week about this week’s article. Before the week started I knew what my subject was going to be, it was just a question of deciding the content as the week progressed. From what I thought I would be writing at the start of the week, to what I am writing now, is about 80% similar. The big difference is that I did not think the FOMC release, (albeit important and market moving), would be such a huge pivotal piece of data, as I believe it is going to be.\r\n\r\nIn the past I have used words and phrases like “CROSSROADS”, “PRECIPICE”, “WHERE THE GRAVEL MEETS THE ROAD” and “THE LINE IN THE SAND” when describing key data releases etc. This Wednesday is one of those crucial days for data. Without doubt this is Janet Yellen’s most crucial few hours as Fed Chair since replacing Ben Bernanke.\r\n\r\nI have a few economic arguments related to the strength of the USD and what the major issues are for the FED. However, before listing these, I want to say that from day one in office, Janet Yellen has stuck to her guns on commentary. She has painstakingly delivered a consistent message to the markets on when she is going to raise interest rates. She moved the markets away from employment percentages to being more reliant on data. She has said consistently of late that movements in interest rates will be data dependent. In fact of late, like many other Central Bank Presidents or Governors she has shown more of a concern over DEFLATION than anything else.\r\n\r\nLets face the facts; there is an economic slowdown. We are bouncing along the bottom, there are NO consistencies of economic growth in the world, China is slowing down and there are divergences all over the markets to ponder.\r\n\r\nIt all comes down to one word from the FOMC statement. If PATIENT is removed the EUR/USD will be crushed through parity within weeks. I know it sounds crazy, but this statement on Wednesday has a lot to do with saving face. The FED has said that interest rates are going to rise in the U.S. If they pullback from this position the USD will get crushed instead. But if the FED rescinds on raising rates no-one will believe a word uttered from them again and the markets will lose what it needs above all else, certainty of FED monetary policy. Uncertainty, which is what will happen if rates do not rise, this would be a huge step back for the markets. Of course, the FED can say that interest rates are still going to rise in 2015 but not before the summer.\r\n\r\nMy view is that the chatter on FED rate increases has reached the point where the FED needs to act, and, above all else, be clear and as unambiguous as possible on future actions.\r\n\r\nI think she will intimate a rate increase of 0.25% to be done June or July and the EUR/USD will get crushed as a result. Previous blogs refer to Central bank divergences; the ECB is accommodative, dovish and interest rates low for years to come. The FED raising rates is hawkish. The divergence will provide a sell-off of huge proportions.\r\n\r\nSo it’s dead simple….\r\n\r\nNot that fast….\r\n\r\nThe FED has the ultimate dilemma.\r\n\r\nThe 800lb gorilla in the room is DEFLATION.\r\n\r\nThe FED does NOT want DEFLATION as the strong USD gives DEFLATION through lower import prices on goods imported into the USA from abroad. How on earth with DEFLATION can the FED achieve its 2% INFLATION target?\r\n\r\nSo basically as I see it Janet Yellen is damned if she doesn’t and damned if she does.\r\n\r\nIf she raises rates like I think she will, the EMERGING MARKETS could be faced with a crash not unlike 1997. The ramification of U.S. monetary policy is felt worldwide.\r\n\r\nIf she doesn’t raise rates, I believe that the markets will see this as a rate cut…stocks will rally and the USD will weaken. But, this places future FED speak into the “yeah right!!” category of do you or don\'t you believe them in the future. This is a risk and Central Bankers do NOT like or take risks. No rate cut would say to the markets that the economic data is so poor, that it my opinion it could lead to another bout of QE…. QE4!!!\r\n\r\nI believe that clever / smart equity market traders will have cashed out many of their positions ahead of the FOMC. Equity markets cash from the U.S. is being placed into the European bourses like the DAX. There are some U.S. investors that are mandated to keep their money in the U.S. I think they will have it in cash at the moment until they see what the FED does.\r\n\r\nThere is uncertainty in the equity markets, in particular the U.S., and it is evident for all to see the divergence between the DAX and S&amp;P.\r\n\r\nWith uncertainty in the U.S. one might expect a flight to safety with GOLD. But I see GOLD as a huge DEFLATION trade at the moment. The higher return in the USD is in direct comparison to China weakness, the ECB QE program and Japanese future economic uncertainty.\r\n\r\nIt is clear-cut in my eyes.\r\n\r\nFrom an equity perspective, the SMART MONEY has reduced positions in U.S. equities.\r\n\r\nFrom an FX perspective, Forex Traders are either going to get a major sell-off or a bounce in the EUR/USD. It is all based on the FED’s interpretation of U.S. economic data. If the FOMC says that interest rates can’t move because the data is still not good enough…. the USD will get crushed and I predict QE4.\r\n\r\nIt is huge decision, some may say gamble because Yellen will NOT want to lose face by not raising interest rates. This could create huge credibility issues moving forward.\r\n\r\nI am in the camp of a June or July rate hike.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>&nbsp;</li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<p style=\"text-align: center;\"><strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n(Please note these will be increased with effect from April 1st 2015)</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nI mentioned last week, that I am looking at making some changes to my Forex business.\r\n\r\nThese changes will soon be seen on my website, in the structures and formats of my various blogs.\r\n\r\nOver the next 4-6 weeks most of these changes will be completed, the only areas that are causing a few headaches at the moment are those issues relating to space, which are beyond my pay scale and a whole new world to become involved with. Some changes are easier than others to make, and, can be pretty instant to do, while others, in particular, my space issues require more thought and planning. The progress review meetings are still taking place and I am happy so far, although the bigger decisions are still to be made.\r\n\r\nHowever, there are subtle changes made to the blog content this week. These are specifically aimed at my PREMIUM SERVICE subscribers, in section 4.\r\n\r\nBasically, as we know, the closing weekly candles are heavily scrutinised by the major banks in the way that they assess their future FX strategy. This is not just for the coming week but also looking at a run of weekly candles can provide some strong trending data. From this blog onwards, I believe that it would be a good discipline to review these charts each week. I am proposing only the USD majors at this stage. These charts now form part of section 4.7.\r\n\r\nMoving forward this blog will remain, but I can confirm that the section exclusively for PREMIUM SERVICE subscribers will expand. This is only fair when you consider that my subscribers are paying for a service of TRADE SET-UPS plus the bonus of some MARKET ANALYSIS.\r\n\r\nSubscription changes will take place from April 1<sup>st</sup> and I am hoping to be able to show more flexibility in subscription periods but this is to a large extent outside of my control as it is in the hands of PayPal.\r\n\r\nMy process moving forward with the proposed changes involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Please continue to watch this space for updates.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\"><img class=\"aligncenter size-full wp-image-5467\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\" alt=\"PROFIT LOSS RATIO 15032105\" width=\"414\" height=\"585\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\"><img class=\"aligncenter size-full wp-image-5466\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\" alt=\"RISK REWARD 15032015\" width=\"428\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\"><img class=\"aligncenter size-full wp-image-5468\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\" alt=\"PREM SERV PROFITS 1 15032015\" width=\"452\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\"><img class=\"aligncenter size-full wp-image-5469\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\" alt=\"PREM SERV PROFITS2 15032015\" width=\"464\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW</span><strong><span style=\"text-decoration: underline;\"> </span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – The Annual Budget.\r\nWEDNESDAY: USD – FOMC Statement, Projections &amp; Press Conference.\r\nWEDNESDAY: NZD – GDP.\r\n\r\nTHURSDAY: CHF – SNB Policy Statement &amp; Press Conference.\r\n\r\nFRIDAY: CAD – Core CPi and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis week is all about two items of news in my opinion.\r\n\r\nThe FOMC Monetary Policy Statement, with revised economic projections with Janet Yellen’s Press Conference.\r\n\r\nand\r\n\r\nThe SNB Libor rate announcement and the monetary policy statement, with Governor Mr. Jordan’s Press Conference.\r\n\r\nThere are other snippets of news but these two dominate in my opinion.\r\n\r\nCertainly ahead of the FOMC, I will be lighter than light on LIVE trades. At the time of writing this blog, my thought process is just to have the existing hedged trades open, they are primarily FUNDAMENTAL TRADES.\r\n\r\nIt is without doubt a pivotal week.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?','','inherit','open','closed','','5497-revision-v1','','','2015-03-14 13:07:28','2015-03-14 18:07:28','',5497,'https://weeklyfxdrivethru.com/5497-revision-v1/',0,'revision','',0),(5500,1,'2015-03-14 13:08:33','2015-03-14 18:08:33','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot $$$$ Trading.\r\nThis year to date, the profits are now in excess of <span style=\"text-decoration: underline;\">$30,000.00</span> from 139 completed trades.</strong></h3>\r\n<strong>DATE: 15.03.2015\r\nREFERENCE: #143\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">1.1 LOOKING BACKWARD, FORWARD &amp; SIDEWAYS AT THE FX MARKET:</span>\r\n\r\nLooking backward…\r\n\r\nMy main title of the blog last week following the huge moves in the USD was,\r\n\r\n<strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong>\r\n\r\nwell…I got that wrong. The DXY powered onwards and upwards to touch the big triple digit 100.00 and then pulled back. Since that day, we have really just bounced around and range traded.\r\n\r\nWe saw very big moves lower with the cable and on Friday last week the EUR/USD broke below 1.0500. The GBP/USD broke recent lows sub 1.4777 to test 1.4700 and the EUR/USD dropped and took stops below 1.0500. I think that as we have an FOMC statement and the fact that Janet Yellen has a press conference this week to some extent the markets were adjusting positions, squaring off ahead and in anticipation of what the FOMC statement will be. The key of course is whether the word PATIENT is or is not included in the press release.\r\n\r\nThe power of the USD I believe has taken a lot of people by surprise. Most pundits / experts on TV have never seen the USD flex it’s muscles. It has always been generally weak and kept in its box. It has been and continues to defy gravity by some explosive upward moves. I still believe that we should see some consolidation. How high will it go? Potentially up to 125.00. It sounds crazy but with Central Bank divergence between the FED and ECB it is possible. This places the EUR/USD below parity around 0.9000. Yesterday, Goldman Sachs released 2015 and 2016 currency targets for the EUR/USD – they are quoting 0.9000 and 0.8600 as potential targets. Who knows? … watch this space.\r\n\r\nMy mate, Graeme Wheeler (RBNZ Governor), held rates at 3.50% and gave the usual two-sided Press Conference; balancing comments between DOVISH and HAWKISH, just to keep you guessing. My thoughts were more DOVISH, so I shorted the NZD/USD and posted a 48 pip loss. We actually had quite a substantial rally off the lows, of about 250 pips in total, before starting to fall back again in line with USD strength.\r\n\r\nLooking forward….\r\n\r\nThe big news in the past 5 days of trading was the USD (DXY). This makes for a very interesting FOMC day on Wednesday. I will be out of all USD related trades well before the statement is released and unless you are a gambler of the high-stakes tables at Las Vegas I suggest you clear your USD related trades\r\n\r\nMy approach to Forex is based on a lower risk assessment of each trade. I learnt a long time ago that FX could be a 50-50 gamble on direction. I admit those odds appeal to gamblers, but longevity in trading is what FX is all about and the “Slow and Steady wins the race” approach will always win out.\r\n\r\nMr. Jordan (Thomas Jordan) Governor of the SNB also takes to the stage this week with SNB Libor and a rate/Policy statement. I have to use Mr. for the SNB Governor as following the PEG removal of the EUR/CHF earlier this year, that move has elevated him to the history books…mucho $$$$$$ lost around the world a little profit here and there and thousands of jobs lost as a result. Yup… history book stuff. (Thomas Jordan is Mr. and Graeme Wheeler is my mate). I would strongly suspect that this policy statement from the SNB could be quite interesting given the recent moves in all related CHF pairs except the EUR/CHF. I do NOT want to start rumours but DO NOT rule out the SNB desire to have a new floor / PEG in the EUR/CHF of 1.1000 being announced…just saying. They could also move in increasing the negative deposit rate higher from the current 0.75%. As Peter Frampton would sing do not get caught “Asleep at the wheel”.\r\n\r\nLooking sideways….\r\n\r\nIn eight years of trading, I do not think apart from the 2008/9 crash I have ever witnessed the Forex market being at such extremes. Mark my words, this will end in tears....\r\n\r\n<em>“Divergences &amp; poor correlations for an extended period = capitulation moves”</em>\r\n\r\nI do not want to talk about BLACK SWAN events or the like, but the drop in the EUR/USD is now epic. Last May we were at 1.3972. We closed last week at 1.0495… that is 3,477 pips lower in about 9 months given a day or two.\r\n\r\nWe could see the mother of all drops this week if the FOMC announces that rates will still rise prior to the summer.\r\n\r\nThis FOMC news event is so important it will set up the FX market directionally for the next couple of months at the very least. DO NOT RISK YOUR BROKER ACCOUNT BY TRYING TO SECOND GUESS THE FOMC…close all USD related trades ahead of the event. Whatever way the FOMC decides on interest rates there will be opportunities to make lots of pips. The greatest feature and benefit of trading the Forex market is that there are moves everyday and there are opportunities everyday. DO NOT BE A SUCKER giving sucker money to your broker’s wallet.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?\r\n</strong><strong>And\r\n</strong><strong>AHEAD OF THE FOMC… THE SMART MONEY IS ALREADY IN CASH</strong></p>\r\nI have been making notes all week about this week’s article. Before the week started I knew what my subject was going to be, it was just a question of deciding the content as the week progressed. From what I thought I would be writing at the start of the week, to what I am writing now, is about 80% similar. The big difference is that I did not think the FOMC release, (albeit important and market moving), would be such a huge pivotal piece of data, as I believe it is going to be.\r\n\r\nIn the past I have used words and phrases like “CROSSROADS”, “PRECIPICE”, “WHERE THE GRAVEL MEETS THE ROAD” and “THE LINE IN THE SAND” when describing key data releases etc. This Wednesday is one of those crucial days for data. Without doubt this is Janet Yellen’s most crucial few hours as Fed Chair since replacing Ben Bernanke.\r\n\r\nI have a few economic arguments related to the strength of the USD and what the major issues are for the FED. However, before listing these, I want to say that from day one in office, Janet Yellen has stuck to her guns on commentary. She has painstakingly delivered a consistent message to the markets on when she is going to raise interest rates. She moved the markets away from employment percentages to being more reliant on data. She has said consistently of late that movements in interest rates will be data dependent. In fact of late, like many other Central Bank Presidents or Governors she has shown more of a concern over DEFLATION than anything else.\r\n\r\nLets face the facts; there is an economic slowdown. We are bouncing along the bottom, there are NO consistencies of economic growth in the world, China is slowing down and there are divergences all over the markets to ponder.\r\n\r\nIt all comes down to one word from the FOMC statement. If PATIENT is removed the EUR/USD will be crushed through parity within weeks. I know it sounds crazy, but this statement on Wednesday has a lot to do with saving face. The FED has said that interest rates are going to rise in the U.S. If they pullback from this position the USD will get crushed instead. But if the FED rescinds on raising rates no-one will believe a word uttered from them again and the markets will lose what it needs above all else, certainty of FED monetary policy. Uncertainty, which is what will happen if rates do not rise, this would be a huge step back for the markets. Of course, the FED can say that interest rates are still going to rise in 2015 but not before the summer.\r\n\r\nMy view is that the chatter on FED rate increases has reached the point where the FED needs to act, and, above all else, be clear and as unambiguous as possible on future actions.\r\n\r\nI think she will intimate a rate increase of 0.25% to be done June or July and the EUR/USD will get crushed as a result. Previous blogs refer to Central bank divergences; the ECB is accommodative, dovish and interest rates low for years to come. The FED raising rates is hawkish. The divergence will provide a sell-off of huge proportions.\r\n\r\nSo it’s dead simple….\r\n\r\nNot that fast….\r\n\r\nThe FED has the ultimate dilemma.\r\n\r\nThe 800lb gorilla in the room is DEFLATION.\r\n\r\nThe FED does NOT want DEFLATION as the strong USD gives DEFLATION through lower import prices on goods imported into the USA from abroad. How on earth with DEFLATION can the FED achieve its 2% INFLATION target?\r\n\r\nSo basically as I see it Janet Yellen is damned if she doesn’t and damned if she does.\r\n\r\nIf she raises rates like I think she will, the EMERGING MARKETS could be faced with a crash not unlike 1997. The ramification of U.S. monetary policy is felt worldwide.\r\n\r\nIf she doesn’t raise rates, I believe that the markets will see this as a rate cut…stocks will rally and the USD will weaken. But, this places future FED speak into the “yeah right!!” category of do you or don\'t you believe them in the future. This is a risk and Central Bankers do NOT like or take risks. No rate cut would say to the markets that the economic data is so poor, that it my opinion it could lead to another bout of QE…. QE4!!!\r\n\r\nI believe that clever / smart equity market traders will have cashed out many of their positions ahead of the FOMC. Equity markets cash from the U.S. is being placed into the European bourses like the DAX. There are some U.S. investors that are mandated to keep their money in the U.S. I think they will have it in cash at the moment until they see what the FED does.\r\n\r\nThere is uncertainty in the equity markets, in particular the U.S., and it is evident for all to see the divergence between the DAX and S&amp;P.\r\n\r\nWith uncertainty in the U.S. one might expect a flight to safety with GOLD. But I see GOLD as a huge DEFLATION trade at the moment. The higher return in the USD is in direct comparison to China weakness, the ECB QE program and Japanese future economic uncertainty.\r\n\r\nIt is clear-cut in my eyes.\r\n\r\nFrom an equity perspective, the SMART MONEY has reduced positions in U.S. equities.\r\n\r\nFrom an FX perspective, Forex Traders are either going to get a major sell-off or a bounce in the EUR/USD. It is all based on the FED’s interpretation of U.S. economic data. If the FOMC says that interest rates can’t move because the data is still not good enough…. the USD will get crushed and I predict QE4.\r\n\r\nIt is huge decision, some may say gamble because Yellen will NOT want to lose face by not raising interest rates. This could create huge credibility issues moving forward.\r\n\r\nI am in the camp of a June or July rate hike.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<p style=\"text-align: center;\"><strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n(Please note these will be increased with effect from April 1st 2015)</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nI mentioned last week, that I am looking at making some changes to my Forex business.\r\n\r\nThese changes will soon be seen on my website, in the structures and formats of my various blogs.\r\n\r\nOver the next 4-6 weeks most of these changes will be completed, the only areas that are causing a few headaches at the moment are those issues relating to space, which are beyond my pay scale and a whole new world to become involved with. Some changes are easier than others to make, and, can be pretty instant to do, while others, in particular, my space issues require more thought and planning. The progress review meetings are still taking place and I am happy so far, although the bigger decisions are still to be made.\r\n\r\nHowever, there are subtle changes made to the blog content this week. These are specifically aimed at my PREMIUM SERVICE subscribers, in section 4.\r\n\r\nBasically, as we know, the closing weekly candles are heavily scrutinised by the major banks in the way that they assess their future FX strategy. This is not just for the coming week but also looking at a run of weekly candles can provide some strong trending data. From this blog onwards, I believe that it would be a good discipline to review these charts each week. I am proposing only the USD majors at this stage. These charts now form part of section 4.7.\r\n\r\nMoving forward this blog will remain, but I can confirm that the section exclusively for PREMIUM SERVICE subscribers will expand. This is only fair when you consider that my subscribers are paying for a service of TRADE SET-UPS plus the bonus of some MARKET ANALYSIS.\r\n\r\nSubscription changes will take place from April 1<sup>st</sup> and I am hoping to be able to show more flexibility in subscription periods but this is to a large extent outside of my control as it is in the hands of PayPal.\r\n\r\nMy process moving forward with the proposed changes involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Please continue to watch this space for updates.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\"><img class=\"aligncenter size-full wp-image-5467\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\" alt=\"PROFIT LOSS RATIO 15032105\" width=\"414\" height=\"585\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\"><img class=\"aligncenter size-full wp-image-5466\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\" alt=\"RISK REWARD 15032015\" width=\"428\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\"><img class=\"aligncenter size-full wp-image-5468\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\" alt=\"PREM SERV PROFITS 1 15032015\" width=\"452\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\"><img class=\"aligncenter size-full wp-image-5469\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\" alt=\"PREM SERV PROFITS2 15032015\" width=\"464\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW</span><strong><span style=\"text-decoration: underline;\"> </span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – The Annual Budget.\r\nWEDNESDAY: USD – FOMC Statement, Projections &amp; Press Conference.\r\nWEDNESDAY: NZD – GDP.\r\n\r\nTHURSDAY: CHF – SNB Policy Statement &amp; Press Conference.\r\n\r\nFRIDAY: CAD – Core CPi and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis week is all about two items of news in my opinion.\r\n\r\nThe FOMC Monetary Policy Statement, with revised economic projections with Janet Yellen’s Press Conference.\r\n\r\nand\r\n\r\nThe SNB Libor rate announcement and the monetary policy statement, with Governor Mr. Jordan’s Press Conference.\r\n\r\nThere are other snippets of news but these two dominate in my opinion.\r\n\r\nCertainly ahead of the FOMC, I will be lighter than light on LIVE trades. At the time of writing this blog, my thought process is just to have the existing hedged trades open, they are primarily FUNDAMENTAL TRADES.\r\n\r\nIt is without doubt a pivotal week.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?','','inherit','open','closed','','5497-revision-v1','','','2015-03-14 13:08:33','2015-03-14 18:08:33','',5497,'https://weeklyfxdrivethru.com/5497-revision-v1/',0,'revision','',0),(5506,1,'2015-03-14 13:15:32','2015-03-14 18:15:32','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\"><img class=\"aligncenter size-full wp-image-5466\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\" alt=\"RISK REWARD 15032015\" width=\"428\" height=\"541\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-03-14 13:15:32','2015-03-14 18:15:32','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5507,1,'2015-03-14 13:17:16','2015-03-14 18:17:16','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.03.2015\r\nREFERENCE: #51\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">1.1 LOOKING BACKWARD, FORWARD &amp; SIDEWAYS AT THE FX MARKET:</span>\r\n\r\nLooking backward…\r\n\r\nMy main title of the blog last week following the huge moves in the USD was,\r\n\r\n<strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong>\r\n\r\nwell…I got that wrong. The DXY powered onwards and upwards to touch the big triple digit 100.00 and then pulled back. Since that day, we have really just bounced around and range traded.\r\n\r\nWe saw very big moves lower with the cable and on Friday last week the EUR/USD broke below 1.0500. The GBP/USD broke recent lows sub 1.4777 to test 1.4700 and the EUR/USD dropped and took stops below 1.0500. I think that as we have an FOMC statement and the fact that Janet Yellen has a press conference this week to some extent the markets were adjusting positions, squaring off ahead and in anticipation of what the FOMC statement will be. The key of course is whether the word PATIENT is or is not included in the press release.\r\n\r\nThe power of the USD I believe has taken a lot of people by surprise. Most pundits / experts on TV have never seen the USD flex it’s muscles. It has always been generally weak and kept in its box. It has been and continues to defy gravity by some explosive upward moves. I still believe that we should see some consolidation. How high will it go? Potentially up to 125.00. It sounds crazy but with Central Bank divergence between the FED and ECB it is possible. This places the EUR/USD below parity around 0.9000. Yesterday, Goldman Sachs released 2015 and 2016 currency targets for the EUR/USD – they are quoting 0.9000 and 0.8600 as potential targets. Who knows? … watch this space.\r\n\r\nMy mate, Graeme Wheeler (RBNZ Governor), held rates at 3.50% and gave the usual two-sided Press Conference; balancing comments between DOVISH and HAWKISH, just to keep you guessing. My thoughts were more DOVISH, so I shorted the NZD/USD and posted a 48 pip loss. We actually had quite a substantial rally off the lows, of about 250 pips in total, before starting to fall back again in line with USD strength.\r\n\r\nLooking forward….\r\n\r\nThe big news in the past 5 days of trading was the USD (DXY). This makes for a very interesting FOMC day on Wednesday. I will be out of all USD related trades well before the statement is released and unless you are a gambler of the high-stakes tables at Las Vegas I suggest you clear your USD related trades.\r\n\r\nMy approach to Forex is based on a lower risk assessment of each trade. I learnt a long time ago that FX could be a 50-50 gamble on direction. I admit those odds appeal to gamblers, but longevity in trading is what FX is all about and the “Slow and Steady wins the race” approach will always win out.\r\n\r\nMr. Jordan (Thomas Jordan) Governor of the SNB also takes to the stage this week with SNB Libor and a rate/Policy statement. I have to use Mr. for the SNB Governor as following the PEG removal of the EUR/CHF earlier this year, that move has elevated him to the history books…mucho $$$$$$ lost around the world a little profit here and there and thousands of jobs lost as a result. Yup… history book stuff. (Thomas Jordan is Mr. and Graeme Wheeler is my mate). I would strongly suspect that this policy statement from the SNB could be quite interesting given the recent moves in all related CHF pairs except the EUR/CHF. I do NOT want to start rumours but DO NOT rule out the SNB desire to have a new floor / PEG in the EUR/CHF of 1.1000 being announced…just saying. They could also move in increasing the negative deposit rate higher from the current 0.75%. As Peter Frampton would sing do not get caught “Asleep at the wheel”.\r\n\r\nLooking sideways….\r\n\r\nIn eight years of trading, I do not think apart from the 2008/9 crash I have ever witnessed the Forex market being at such extremes. Mark my words, this will end in tears....\r\n<p style=\"text-align: left;\"><em>“Divergences &amp; poor correlations for an extended period = capitulation moves”</em></p>\r\nI do not want to talk about BLACK SWAN events or the like, but the drop in the EUR/USD is now epic. Last May we were at 1.3972. We closed last week at 1.0495… that is 3,477 pips lower in about 9 months given a day or two.\r\n\r\nWe could see the mother of all drops this week if the FOMC announces that rates will still rise prior to the summer.\r\n\r\nThis FOMC news event is so important it will set up the FX market directionally for the next couple of months at the very least. DO NOT RISK YOUR BROKER ACCOUNT BY TRYING TO SECOND GUESS THE FOMC…close all USD related trades ahead of the event. Whatever way the FOMC decides on interest rates there will be opportunities to make lots of pips. The greatest feature and benefit of trading the Forex market is that there are moves everyday and there are opportunities everyday. DO NOT BE A SUCKER giving sucker money to your broker’s wallet.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\"><strong>WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?\r\n</strong><strong>And\r\n</strong><strong>AHEAD OF THE FOMC… THE SMART MONEY IS ALREADY IN CASH</strong></h4>\r\nI have been making notes all week about this week’s article. Before the week started I knew what my subject was going to be, it was just a question of deciding the content as the week progressed. From what I thought I would be writing at the start of the week, to what I am writing now, is about 80% similar. The big difference is that I did not think the FOMC release, (albeit important and market moving), would be such a huge pivotal piece of data, as I believe it is going to be.\r\n\r\nIn the past I have used words and phrases like “CROSSROADS”, “PRECIPICE”, “WHERE THE GRAVEL MEETS THE ROAD” and “THE LINE IN THE SAND” when describing key data releases etc. This Wednesday is one of those crucial days for data. Without doubt this is Janet Yellen’s most crucial few hours as Fed Chair since replacing Ben Bernanke.\r\n\r\nI have a few economic arguments related to the strength of the USD and what the major issues are for the FED. However, before listing these, I want to say that from day one in office, Janet Yellen has stuck to her guns on commentary. She has painstakingly delivered a consistent message to the markets on when she is going to raise interest rates. She moved the markets away from employment percentages to being more reliant on data. She has said consistently of late that movements in interest rates will be data dependent. In fact of late, like many other Central Bank Presidents or Governors she has shown more of a concern over DEFLATION than anything else.\r\n\r\nLets face the facts; there is an economic slowdown. We are bouncing along the bottom, there are NO consistencies of economic growth in the world, China is slowing down and there are divergences all over the markets to ponder.\r\n\r\nIt all comes down to one word from the FOMC statement. If PATIENT is removed the EUR/USD will be crushed through parity within weeks. I know it sounds crazy, but this statement on Wednesday has a lot to do with saving face. The FED has said that interest rates are going to rise in the U.S. If they pullback from this position the USD will get crushed instead. But if the FED rescinds on raising rates no-one will believe a word uttered from them again and the markets will lose what it needs above all else, certainty of FED monetary policy. Uncertainty, which is what will happen if rates do not rise, this would be a huge step back for the markets. Of course, the FED can say that interest rates are still going to rise in 2015 but not before the summer.\r\n\r\nMy view is that the chatter on FED rate increases has reached the point where the FED needs to act, and, above all else, be clear and as unambiguous as possible on future actions.\r\n\r\nI think she will intimate a rate increase of 0.25% to be done June or July and the EUR/USD will get crushed as a result. Previous blogs refer to Central bank divergences; the ECB is accommodative, dovish and interest rates low for years to come. The FED raising rates is hawkish. The divergence will provide a sell-off of huge proportions.\r\n\r\nSo it’s dead simple….\r\n\r\nNot that fast….\r\n\r\nThe FED has the ultimate dilemma.\r\n\r\nThe 800lb gorilla in the room is DEFLATION.\r\n\r\nThe FED does NOT want DEFLATION as the strong USD gives DEFLATION through lower import prices on goods imported into the USA from abroad. How on earth with DEFLATION can the FED achieve its 2% INFLATION target?\r\n\r\nSo basically as I see it Janet Yellen is damned if she doesn’t and damned if she does.\r\n\r\nIf she raises rates like I think she will, the EMERGING MARKETS could be faced with a crash not unlike 1997. The ramification of U.S. monetary policy is felt worldwide.\r\n\r\nIf she doesn’t raise rates, I believe that the markets will see this as a rate cut…stocks will rally and the USD will weaken. But, this places future FED speak into the “yeah right!!” category of do you or don\'t you believe them in the future. This is a risk and Central Bankers do NOT like or take risks. No rate cut would say to the markets that the economic data is so poor, that it my opinion it could lead to another bout of QE…. QE4!!!\r\n\r\nI believe that clever / smart equity market traders will have cashed out many of their positions ahead of the FOMC. Equity markets cash from the U.S. is being placed into the European bourses like the DAX. There are some U.S. investors that are mandated to keep their money in the U.S. I think they will have it in cash at the moment until they see what the FED does.\r\n\r\nThere is uncertainty in the equity markets, in particular the U.S., and it is evident for all to see the divergence between the DAX and S&amp;P.\r\n\r\nWith uncertainty in the U.S. one might expect a flight to safety with GOLD. But I see GOLD as a huge DEFLATION trade at the moment. The higher return in the USD is in direct comparison to China weakness, the ECB QE program and Japanese future economic uncertainty.\r\n\r\nIt is clear-cut in my eyes.\r\n\r\nFrom an equity perspective, the SMART MONEY has reduced positions in U.S. equities.\r\n\r\nFrom an FX perspective, Forex Traders are either going to get a major sell-off or a bounce in the EUR/USD. It is all based on the FED’s interpretation of U.S. economic data. If the FOMC says that interest rates can’t move because the data is still not good enough…. the USD will get crushed and I predict QE4.\r\n\r\nIt is huge decision, some may say gamble because Yellen will NOT want to lose face by not raising interest rates. This could create huge credibility issues moving forward.\r\n\r\nI am in the camp of a June or July rate hike.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong><strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nI mentioned last week, that I am looking at making some changes to my Forex business.\r\n\r\nThese changes will soon be seen on my website, in the structures and formats of my various blogs.\r\n\r\nOver the next 4-6 weeks most of these changes will be completed, the only areas that are causing a few headaches at the moment are those issues relating to space, which are beyond my pay scale and a whole new world to become involved with. Some changes are easier than others to make, and, can be pretty instant to do, while others, in particular, my space issues require more thought and planning. The progress review meetings are still taking place and I am happy so far, although the bigger decisions are still to be made.\r\n\r\nHowever, there are subtle changes made to the blog content this week. These are specifically aimed at my PREMIUM SERVICE subscribers, in section 4.\r\n\r\nBasically, as we know, the closing weekly candles are heavily scrutinised by the major banks in the way that they assess their future FX strategy. This is not just for the coming week but also looking at a run of weekly candles can provide some strong trending data. From this blog onwards, I believe that it would be a good discipline to review these charts each week. I am proposing only the USD majors at this stage. These charts now form part of section 4.7.\r\n\r\nMoving forward this blog will remain, but I can confirm that the section exclusively for PREMIUM SERVICE subscribers will expand. This is only fair when you consider that my subscribers are paying for a service of TRADE SET-UPS plus the bonus of some MARKET ANALYSIS.\r\n\r\nSubscription changes will take place from April 1<sup>st</sup> and I am hoping to be able to show more flexibility in subscription periods but this is to a large extent outside of my control as it is in the hands of PayPal.\r\n\r\nMy process moving forward with the proposed changes involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Please continue to watch this space for updates.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\"><img class=\"aligncenter size-full wp-image-5467\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-15032105.png\" alt=\"PROFIT LOSS RATIO 15032105\" width=\"414\" height=\"585\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\"><img class=\"aligncenter size-full wp-image-5466\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-15032015.png\" alt=\"RISK REWARD 15032015\" width=\"428\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\"><img class=\"aligncenter size-full wp-image-5468\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS-1-15032015.png\" alt=\"PREM SERV PROFITS 1 15032015\" width=\"452\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\"><img class=\"aligncenter size-full wp-image-5469\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-15032015.png\" alt=\"PREM SERV PROFITS2 15032015\" width=\"464\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThere is no EDUCATION article this week .\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW:</span>\r\n\r\nLast week was a great trading week for THE PREMIUM SERVICE. The USD/CHF and GBP/NZD both long trades were the standouts.\r\n\r\nRegarding The USD/CHF, this was the second long trade with this pair in the last 7 or 8 days, from which a core position developed a substantial amount of associated trades. I think at one stage across 5 trading accounts there were over 20 USD/CHF trades LIVE at the same time.\r\n\r\nThe GBP/NZD was the first example this year of the SSP in action. The move triggered 4 long trades for a total of 685 pips. From the first trade to the trade 4 closing price the PREMIUM SERVICE claimed a total of 429 pips. I was very happy with this trade from a technical perspective. One of these trades each week would be just great. One a month is also fine!\r\n\r\nTo compliment these trades several USD major pairs added an average of 30-40 trade profits per trade to turn a previous monthly trade income from a negative into a healthy positive.\r\n\r\nIt is all about consistency. My PREMIUM SERVICE general trading account keeps ticking over. It is only when more than a single lot is risked and the trade concerned turns out to be a losing trade that you have to play catch-up. My old FXCM account could be playing catch up for another three months!\r\n\r\nThe principle of single-lot profitable trading works; it’s all about having the right sized account for a MICRO, MINI or STANDARD LOT approach to gain the success.\r\n\r\nInto this week I carried forward 4 trades all of them hedged. Two of the trades GBP/CAD and GBP/AUD are long FUNDAMENTAL TRADES; the others are EUR/CHF long and long GBP/CHF.\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-15032015.png\"><img class=\"aligncenter size-full wp-image-5477\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-15032015.png\" alt=\"PS LIVE TRADES 15032015\" width=\"723\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-15032105.png\"><img class=\"aligncenter size-full wp-image-5476\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-15032105.png\" alt=\"PS LIMIT ORDERS 15032105\" width=\"717\" height=\"398\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. New from this week onwards are the closing weekly charts for the USD majors that are featured in section 4.7.\r\n\r\nThis section will contain charts related to other pairs. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If these are no comments beneath the charts my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<span style=\"text-decoration: underline;\">EUR/AUD, EUR/CAD (weekly) and EUR/NZD (monthly):</span>\r\n\r\nThese charts below show critical support levels that are almost in play. I think it would be a very brave person to go long these pairs at the moment given the relentless selling of the EUR across the board. However, should the EUR/USD bounce, the reversal moves higher in these pairs could be awesome.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURAUDWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5488\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURAUDWeekly15032015-1024x467.png\" alt=\"EURAUDWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURCADWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5489\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURCADWeekly15032015-1024x467.png\" alt=\"EURCADWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURNZDMonthly15032015.png\"><img class=\"aligncenter size-large wp-image-5490\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURNZDMonthly15032015-1024x467.png\" alt=\"EURNZDMonthly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF (240 minutes):</span>\r\n\r\nWe bounced off horizontal support at 1.4764 last Friday. Watch this pair in relation to the SNB announcement in case they deliver another market moving piece of data. Back above 1.4920 makes me feel that this pair is once again bullish.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHFH415032105.png\"><img class=\"aligncenter size-large wp-image-5492\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHFH415032105-1024x467.png\" alt=\"GBPCHFH415032105\" width=\"1024\" height=\"467\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/NZD (weekly):</span>\r\n\r\nA break below 2.000 could possible be on. I see a long trade opportunity around 1.9850 maybe being the first opportunity, or maybe a deeper pullback to around 1.9400 is on the cards. I do think that a long trade of this pair offers a great risk reward when it sets up.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDWeekly15032015.png\"><img class=\"aligncenter size-large wp-image-5493\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDWeekly15032015-1024x467.png\" alt=\"GBPNZDWeekly15032015\" width=\"1024\" height=\"467\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">EUR/JPY (weekly), GBP/JPY (daily) and EUR/GBP (60 minutes):</span>\r\n\r\nI am looking to enter short all of these pairs on pullbacks, possibly as soon at the European session tomorrow. At the back of my mind though is the FOMC, and, the question “are we just going to see consolidation ahead of the news?”. I will need to think about this.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-WEEKLY-15032015-1024x517.png\" alt=\"EURJPY WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPJPY-DAILY-15032015.png\"><img class=\"aligncenter size-large wp-image-5483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPJPY-DAILY-15032015-1024x517.png\" alt=\"GBPJPY DAILY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-60M-15032015.png\"><img class=\"aligncenter size-large wp-image-5486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-60M-15032015-1024x517.png\" alt=\"EURGBP 60M 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-15032015.png\"><img class=\"aligncenter size-full wp-image-5475\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-15032015.png\" alt=\"TRENDING PAIRS 15032015\" width=\"396\" height=\"506\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0495.</strong> I never thought that this week I would be writing a EUR/USD exchange rate with a 1.04 handle. Last week I was convinced that we would see a pullback to about 1.1000, from which I would enter short and happy days would ensue for one and all. I know that a few of you just jumped in short the EUR/USD and it has worked out for you. That is NOT my style nor is it in my TRADE PLAN. My PREMIUM SERVICE short entry is at 1.0970. I extended the limit order date for expiry up to the 27<sup>th</sup> March earlier today as I watched the EUR/USD take a death plunge below 1.05 and flush out the stops.\r\n\r\nThe WEEKLY CHART below covers from 2006 to the present day. You can see the down sloping trading range that the EUR/USD has been in since 2007. There is a support horizontal trend line that comes into play at 1.0360 (I cannot get it on the chart as it makes the chart so small it would be impossible to see any detail at all), I think that this is where we are going. However, if the FOMC takes away PATIENT from the statement this Wednesday we are heading to parity in probably a few weeks. This 1.0360 support will be irrelevant and the Goldman Sachs target of sub 0.9000 becomes very much a thought to seriously consider.\r\n\r\nSupport is at 1.0360 and resistance at 1.0665.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-15032015-1024x517.png\" alt=\"EURUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.4740</strong>. Wow, it very much looks like the GBP/USD is heading for low 1.40’s very soon. The WEEKLY CHART below shows the Fibonacci 127% extension support at 1.4162. I cannot see me obtaining a pullback to 1.5200 to enter short somehow. I will have to revise my short entry when I see if the cable bounces in sympathy with the EUR/USD, assuming we get a bounce! The general election uncertainty is starting to weigh in on the cable. George Osborne (UK Chancellor) delivers his budget this week and this potentially could be another banana skin for GBP/USD.\r\n\r\nInitial support is at 1.4700 and resistance at 1.4777.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-15032015-1024x517.png\" alt=\"GBPUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7633</strong>. Below 0.7600 and it is almost plain sailing all the way to 0.7100. It all depends on the FOMC. There are very strong rumours of an RBA Rate cut next month. But that is along time away from the present. There is some support at 0.7560-65 that may offer something but in real terms if we continue to fall below 0.7600 it could pick up speed to 0.7230, where there is a Fibonacci confluence then obviously the RBA objective from a while back of 0.7000 is just below.\r\n\r\nSupport is at 0.7560 and resistance at 0.7740.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-15032015-1024x517.png\" alt=\"AUDUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7312</strong>. When you look at the WEEKLY CHART below the government target of an exchange rate of 0.6500 does not look too far away. In fact, I believe once at 0.7000 it could be quite a swift move lower. For now however there are a few key levels to break. Right now as you can see from the chart below we have a clear trading range of 0.7170 to 0.7620.\r\n\r\nSupport is good at 0.7250 and resistance is strong at 0.7360 and then at 0.7420.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-15032015-1024x517.png\" alt=\"NZDUSD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2778.</strong> Crude oil is really heavily influencing this pair. There was a nice drop in oil prices on Friday last week and despite better than expected Employment data on Friday morning the CAD weakened and rose to above 1.2800 before pulling back a little. One thing that is noticeable from the WEEKLY CHART below is that we have made a cup from a potential cup and handle formation. If we did form a cup and handle formation we are looking at 1.6000+.\r\n\r\nThe move higher off 1.0750 – 1.0800 is just pure power. It is obvious to me that another re-test of 1.3060 is on the cards and then who knows where. There is a flag pattern on the chart with a potential measured move to 1.4000.\r\n\r\nSupport is good at 1.2750 and resistance is at 1.2800-25 then 1.3000 looms again.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5480\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-15032015-1024x517.png\" alt=\"USDCAD WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong>USD/CHF: Closing Price 1.0043</strong>. This has been my trading pair of the year so far. After the EUR/CHF peg was removed this pair has been like a stealth pair rising back from the ashes to parity. We have had two failures now at just above 1.0100. The chart below shows the rise since the CHF peg removal on the EUR/CHF. The target that I am working to is the pre PEG removal 1.0230. But for now this looks a tough nut to crack. However, should the EUR/USD drop like a lead balloon, I would expect the USD/CHF to pass 1.0250. This would be aided by SNB action on negative interest rates.\r\n\r\nSupport is at 0.9970 and resistance at 1.0125.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-CHART-15032015.png\"><img class=\"aligncenter size-large wp-image-5479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-CHART-15032015-1024x517.png\" alt=\"USDCHF WEEKLY CHART 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 121.39. </strong> The USD/JPY has powered higher this week, but there is divergence between the performance of the JPY and the Nikkei. I am no expert on the JPY pairs at all but this correlation is usually crucial and if it is off sync, I predict trouble for the JPY and we could see JPY strengthening once again across the board.\r\n\r\nThere is previous resistance at 124.20 on monthly charts, that level is still quite a long way off. Pullbacks to 118.50 should be very well supported and that is where I believe the lower end of the USD/JPY range lies.\r\n\r\nFor now I think support at 120.50 and resistance at 121.75 and 122.00 is what should keep our attention.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-15032015.png\"><img class=\"aligncenter size-large wp-image-5478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-15032015-1024x517.png\" alt=\"USDJPY WEEKLY 15032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – The Annual Budget.\r\n<span style=\"line-height: 1.5;\">WEDNESDAY: USD – FOMC Statement, Projections &amp; Press Conference.\r\n</span><span style=\"line-height: 1.5;\">WEDNESDAY: NZD – GDP.</span>\r\n\r\nTHURSDAY: CHF – SNB Policy Statement &amp; Press Conference.\r\n\r\nFRIDAY: CAD – Core CPi and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis week is all about two items of news in my opinion.\r\n\r\nThe FOMC Monetary Policy Statement, with revised economic projections with Janet Yellen’s Press Conference.\r\n\r\nand\r\n\r\nThe SNB Libor rate announcement and the monetary policy statement, with Governor Mr. Jordan’s Press Conference.\r\n\r\nThere are other snippets of news but these two dominate in my opinion.\r\n\r\nCertainly ahead of the FOMC, I will be lighter than light on LIVE trades. At the time of writing this blog, my thought process is just to have the existing hedged trades open, they are primarily FUNDAMENTAL TRADES.\r\n\r\nIt is without doubt a pivotal week.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','WILL THE FOMC BREAK THE EUR/USD ON WEDNESDAY?','','inherit','open','closed','','5494-revision-v1','','','2015-03-14 13:17:16','2015-03-14 18:17:16','',5494,'https://weeklyfxdrivethru.com/5494-revision-v1/',0,'revision','',0),(5508,1,'2015-03-16 06:17:25','2015-03-16 11:17:25','<h1>THE PREMIUM SERVICE</h1>\r\n<section class=\"members\">\r\n<div style=\"text-decoration: underline;\"><a title=\"Premium Blog Posts\" href=\"../member_posts/\">Premium Service Blog Posts</a><a title=\"Webinars\" href=\"./dates-upcoming-webinars/\">Dates of upcoming webinars</a><a title=\"Blog Dates\" href=\"./blog-dates/\">Blog Dates</a></div>\r\n</section>','Welcome','','inherit','open','closed','','2154-revision-v1','','','2015-03-16 06:17:25','2015-03-16 11:17:25','',2154,'https://weeklyfxdrivethru.com/2154-revision-v1/',0,'revision','',0),(5536,1,'2015-03-21 13:13:57','2015-03-21 18:13:57','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-22032015.png\"><img class=\"aligncenter size-full wp-image-5518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-22032015.png\" alt=\"RISK-REWARD 22032015\" width=\"432\" height=\"547\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-03-21 13:13:57','2015-03-21 18:13:57','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5537,1,'2015-03-21 13:14:57','2015-03-21 18:14:57','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf\">HOW TO PLAN YOUR FOREX TRADE EXITS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf\">THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/FOUR-PSHCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf\">FOUR PSHCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-03-21 13:14:57','2015-03-21 18:14:57','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5540,1,'2015-03-21 13:55:07','2015-03-21 18:55:07','','FOUR PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT','','inherit','open','closed','','four-psychological-pitfalls-that-will-blow-your-account','','','2015-03-21 13:56:05','2015-03-21 18:56:05','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/FOUR-PSYCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf',0,'attachment','application/pdf',0),(5539,1,'2015-03-21 13:53:46','2015-03-21 18:53:46','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf\">HOW TO PLAN YOUR FOREX TRADE EXITS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf\">THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/FOUR-PSYHCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf\">FOUR PSYHCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-03-21 13:53:46','2015-03-21 18:53:46','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5542,1,'2015-03-21 13:57:25','2015-03-21 18:57:25','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf\">HOW TO PLAN YOUR FOREX TRADE EXITS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf\">THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/FOUR-PSYCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf\">FOUR PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-03-21 13:57:25','2015-03-21 18:57:25','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5541,1,'2015-03-21 13:56:16','2015-03-21 18:56:16','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf\">HOW TO PLAN YOUR FOREX TRADE EXITS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf\">THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/FOUR-PSYHCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf\">FOUR PSYHCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/FOUR-PSYCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf\">FOUR PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-03-21 13:56:16','2015-03-21 18:56:16','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5543,1,'2015-03-21 15:18:29','2015-03-21 20:18:29','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 22.03.2015\r\n</strong><strong style=\"line-height: 1.5;\">REFERENCE: #52\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">MY OVERVIEW OF THE FOREX MARKET:\r\n</span>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS AT THE FX MARKET:\r\n\r\n<span style=\"text-decoration: underline;\">1.1. LOOKING BACKWARDS:</span>\r\n\r\nWell it never happened. My thoughts this time last week were that the FOMC would demolish the EUR/USD. It never happened, in fact, the responses to the statement, the economic projections and the press conference from my perspective were a little weird. So much pre announcement was levied at the “will she or won’t she” with regards to PATIENT, that a lot of what she did or did NOT say was left to one side. I found the statement a little DOVISH, however, at the end of the day, rate increases are still going to happen. Whilst the market has ruled out June in favor of September, nothing is cast in stone.\r\n\r\nSo I thought the reaction rather overkill and due to the fact we more than reversed the currency moves in the EUR/USD and GBP/USD within 24 hours demonstrated that. Some of the moves in particular the late EUR/USD spike to over 1.1000 was ridiculous… but it is what it is, or rather was what it was.\r\n\r\nThe SNB statement the following day was a damp squib in comparison although, if I recall correctly there were some fantastic currency moves around that time, which made up for the non-announcement.\r\n\r\nLast week was one of the craziest trading weeks that I have ever encountered as a Forex trader. If I had thought that the FOMC FX reaction was mad… it paled into complete insignificance with what came on Friday.\r\n\r\nFriday brought CAD core retail sales, from which a loss trade from the previous overnight moves turned nicely positive on weaker data. I was happy, and then we had a massive USD sell-off.\r\n\r\nWhat started as a focus on my USD/CAD trades turned into a full-blown 4.5-hour series of squeezes. The USD was taken to the woodshed with a huge USD sell-off and GOLD rally, plus a divergence rally move between the Nikkei (6J) and the USD/JPY in for good measure. All I could do was to reduce position sizes and move the odd stop here and there to keep the trades that I wanted alive, kept alive. Reducing position sizes created losses to my accounts.\r\n\r\nThe best I could do was look at my trading charts at the outset of the squeeze, and try to see where it would end.\r\n\r\nUsing the EUR/USD 240M chart I thought that the 38% fib retracement would hold, then, I thought the 50%, it was actually the 61.8% 1.0874 (from the post FOMC highs to the ensuing lows) that held the EUR/USD. It was pretty much the same Fibonacci level across the board that finally held most of the pairs.\r\n\r\nMy frustrations, if the above was not enough were of course further exacerbated as towards the end of the previous day I was in a position to bank some nice $$$ across the board and made the decision to try and let the trades run for more profits. Not only did I miss those $$$ I posted losses within 24 hours on those trades and some more.\r\n\r\nAll in all, it was a very frustrating and annoying end to the week. I seem to be in a one step forward, two steps backward routine at the moment. But this is the Forex Market.\r\n\r\n<span style=\"text-decoration: underline;\">1.2. LOOKING FORWARDS:</span>\r\n\r\nNext week, there are not as many high profile news events to contend with, just three Central Bank governors speak; Draghi, Yellen and Poloz. Hopefully, therefore we will have a more sedate trading week, gather our thoughts and breathe again with some nice directional trading. Yeah right… as if that’s going to happen… hell would freeze over first!\r\n\r\nWe have GREECE. Yup, GREECE is back in the picture again, God love them. “The two tieless flutes” (Tsipras and Varoufakis) will be back in Brussels, Berlin and Frankfurt next week trying to re-negotiate the nonnegotiable. If it looks like PIG, grunts like a PIG guess what it is? Whichever way I view the GREECE V EUROGROUP picture, everything is being done to make it look like its NOT a default but in essence it’s at best a restructuring of debt to avoid a default. This will all end in tears.\r\n\r\n<span style=\"text-decoration: underline;\">1.3. LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\nWe have had one hell of a ride trading Forex so far this year. This past week was without doubt one of the craziest weeks that I have ever traded, and, for the first part of the week I DID NOT trade much at all!… I was on hold waiting for the FOMC.\r\n\r\nI have spoken with several subscribers over the last few days and many feel like they have been beaten to a pulp, got back up again, then beaten down, back up and beaten down again. They scan TWITTER, GOOGLE+ and watch CNBC or BLOOMBERG to try to obtain a perspective. They find nothing other than “Happy Larry’s” saying buy, buy, buy and then buy some more. Nobody seems to lose money on Twitter either. Everyone appears to “Bottom Pick or Top Tick” the market. It is very depressing.\r\n\r\nI have given this response on more than 4 or 5 occasions referring to the media analysts and barrage of tweets on Twitter etc. who claim parts or most if not all of the following –\r\n\r\n<em>“I never lost money on that move, or the previous big spike or collapse that happened I was in the right way, this is what I made, and these were my entries and exits”</em>\r\n\r\nThis is what I have been saying…..\r\n\r\nIf you have been caught on the wrong side of major spikes and moves more than being on the right side - do not despair; everybody has to be on the wrong side sometimes. If they are never on the wrong side they either DO NOT trade or they are bullsh*****s.\r\n\r\nIf you are sick to the back teeth of the same people on twitter or hosting webinars saying how wonderful trading is and how much money they are making – do not despair; if they never lose money it’s bulls**t, or they simply just DO NOT trade, they are theorists and at best historians by saying look this is what I did.\r\n\r\nIf you see the same people over and over again boasting about nothing but being on the right side of every move – do not despair; either go to Vegas with them if you can, because they are the luckiest bastards around or take it as read they are bullsh*****s.\r\n\r\nWhen you see the same people on twitter or wherever that never lose money, and are always on the right side of very move, always at their machines when a squeeze starts and are in at the bottom of a move higher and out on every top tick – do not despair; they either wear depends, or they are not human; they are bullsh*****s\r\n\r\nIt’s all bulls**t…. there is a lot of bulls**t in Forex. It’s a part of Forex that you have to live with and ignore a lot of it.\r\n\r\nI take losses and I tell you about them in this blog and on twitter. I do the best that I can with the PREMIUM SERVICE to limit losses. I am in Forex for the long-haul and that means that from time to time your account does suffer but it does come back if you stick to your principles.\r\n\r\nMy own trading accounts are out of the money this year so far, mostly due to my FXCM (GBP/CHF) trade. However, not all my losses came from the SNB day, some are from the PREMIUM SERVICE trades where I took larger than single lot trades in my personal account and they failed to make a profit. This creates an imbalance between $$$ and pips profits or losses. This is due to the fact that the size of the trade can influence the $$$, so a small loss on a big position can outweigh a big pip profit move with a small position.\r\n\r\nTo illustrate this – if you have a profitable trade with one mini lot that makes 50 pips it could yield $50, however if you have a 5 mini lot trade that loses 20 pips that could yield a loss of $100 thus outweighing the bigger pip profit of the smaller position. Yet, the single lot PREMIUM SERVICE trading accounts when added together with the trades analyzed through my twitter / email set-ups and my excel spread sheets are <span style=\"text-decoration: underline;\">still in the black - in profit</span>.\r\n\r\nI have subscribers who only trade single lot trades, and make money. The PREMIUM SERVICE worked last year in 2014 and it STILL works this year, as a trader you just have to be more realistic setting goals and objectives.\r\n\r\nThe markets are insatiable when it comes to FEAR and GREED. It is only when FEAR and GREED enter, that the picture changes, greed may make us trade larger position sizes for some currencies that we feel more confident with, or see $$$ in our eyes. Or perhaps we adjust trade sizes to cope with more volatile pairs.\r\n\r\ne.g. If you trade with 5 x MINI lots the EUR/USD. , you should not trade 5 x MINI lots with the GBP/NZD. You may trade just 1 x MINI LOT because of volatility and RISK MANAGEMENT issues associated with this pair.\r\n\r\nWhen different position sizes are used across all the trade set-ups that are presented the mix of position sizes in relation to the profit / loss ratio creates an inconsistent return when correlated to the PREMIUM SERVICE returns.\r\n\r\nConsistency is important, and to establish consistency it may be better to trade a consistent lot size in all trades except for commodity crosses, which are more volatile and involve a higher risk. Therefore this all depends on the size of your broker account and your risk tolerances.\r\n\r\nThis is just food for thought; not just for you as a reader but also for me as the instigator of the PREMIUM SERVICE trade set-ups. Sometimes when something is right in front of your face you still cannot see it.\r\n\r\nLike most of you; <span style=\"text-decoration: underline;\">I am a trader I have skin in the market</span>.\r\n\r\nIf you would like more information on this subject, maybe a chat on SKYPE or an email about this, contact me using the details at the end of this blog.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>ANGELA MERKEL WAS OVERHEARD SAYING\r\n</strong><strong>“MARIO, PASS ME THAT BOTTLE OF OUZO and JEROEN STOP PIGGING ON THE TZATZIKI”</strong></p>\r\nYes, you guessed it – Mr. Casual aka Alexis Tsipras the GREECE Prime Minister was back in Brussels having “off-site” emergency talks with the EUROGROUP regarding the GREEK bailout.\r\n\r\nThis long running saga is really like a west-end farce, in fact it’s now so long running I think that it challenges Agatha Christies “THE MOUSETRAP” that had a phenomenal continuous run in the London theatre. I cannot remember how many weeks it ran for but the GREEK story, God love them, is starting to wear me down. Is it any wonder that Mario Draghi is consuming Raki, Ouzo and Retsina faster than Jeroen Dijsselbloem can say his own surname!\r\n\r\nEnough is enough.\r\n\r\nI firmly believe that the only reason that the EUROGROUP is entertaining “no tie” is because they want to ensure an orderly GREXIT from the single currency. A disorderly GREXIT would place a massive stress on the ECB and the Bundesbank.\r\n\r\nIn an interesting twist however, on Friday the EU Commission President, Jean-Claude Junker released €2 billion on humanitarian grounds to help the Greek government deal with the crisis in the country that is affecting the poor and the hardest hit by the financial crisis.\r\n\r\nWouldn’t you just think…\r\n\r\nAusterity did NOT work; it is STILL NOT WORKING and refinancing the Greek debt is just avoiding a default. No matter what is done, the EUROGROUP policy on GREECE, with or without the IMF (International Monetary Fund) hooked into the deal along with the ECB to form the TRIOKA to make it look like a wider base of support and aid was going to fail before it even started.\r\n\r\nThe Germans are at fault in my opinion. Schauble is a loose cannon that fires up high emotions. Culturally, the Germans and the Greek peoples are worlds apart.\r\n\r\nThe bartering process that “no tie” is in at the moment is a normal Mediterranean way of negotiation, and, whether you believe he has no bargaining chips at all it is totally irrelevant. To Northern Europeans, like Merkel, Hollande, Diijsselbloem and Donald Tusk from Poland who chairs the EUROGROUP summits who quite frankly cannot understand why “no tie” will not move his position, it causes them to become exasperated and dig in their heels. They believe and maybe quite rightly in their eyes that enough is enough and its our way or the highway. This is pure and simple cultural divergence.\r\n\r\nTsipras (no tie), knows that the EUROZONE banks, many of them German and French have lots of €€€€€€ hanging around the GREECE financial sector. This is the backdrop and sword of Damocles hanging over the negotiations. “No tie” fully knows the fragile economy that exists across the EUROZONE would be thrown into turmoil if a disorderly GREXIT were to happen. In the background there is the fear of the Greek government running out of money, but would it actually happen?\r\n\r\nThink outside the box. Both RUSSIA and CHINA would love to get a foothold in the area for many reasons, not just political. Humanitarian grounds would be the sales pitch should either of these nations offer emergency financing.\r\n\r\nGREECE needs debt relief.\r\n\r\nThe EUROGROUP needs to suck it up and provide a “Cash Back” deal to Portugal, Ireland, Cyprus etc. in fact, any country that has effectively had a bailout of one sort or another from the EUROGROUP since the 2008-9 crash.\r\n\r\nIt is so straightforward – if they do nothing they risk another financial crash, another run on the banks, negative growth DEFLATION….. this list can go on for pages.\r\n\r\nSuck it up….\r\n\r\nFor once; do not kick yet another can down the road.\r\n\r\nWhatever words are written on a GREEK BLUEPRINT for economic reforms moving forward may as well be on paper supplied by Tom Cruise’s bosses in Mission Impossible, it will self destruct 30 minutes after signature and the monies are transferred. If the GREEKS could not reform before, gather taxes before, or manage the books before on the previous two bailouts why is it going to work this time. They are more in debt now than when they first came to the table looking for help years ago. It is so sad for GREECE that they were sold a lemon.\r\n\r\nAusterity was NOT the way. It has NOT worked, and for Germany to continue down this road with the same old same old is complete and utter bollo**s. There are 19 countries using the single currency, 19 vastly different cultures that approach all aspects of life and business from a different perspective. One size does NOT fit all.\r\n\r\nThese are high stakes. It has taken Mario Draghi at the ECB years to create some stability. This is the ultimate risk. The credibility of the German approach, I would say stubborn approach. They appear totally intransigent to an alternative.\r\n\r\nI am not saying that the U.S. approach was brilliant, quite frankly it made fat cats fatter and moved Wall Street poles apart from Main Street. The poor are poorer and the rich are richer as result of the FED approach in the USA. Poverty is simply swept under the carpet. However, the Ben Bernanke approach was so supportive to the financial markets (ex. Lehman Brothers) that stability and credibility were restored in very good time. Granted, it is still a fragile economy and the economic data shows this. If everything in the garden was “peachy”, interest rates in the U.S. would be at 0.5% by now… they are not.\r\n\r\nBy comparison, and it is hard to compare, as many American commentators some who have been around for years, such as Joe Kernan on CNBC, simply do not understand that the EUROZONE area consists of 28 countries, 19 of these use the € (single currency) plus there are a number of principalities that have monetary agreements like Andorra and Monaco.\r\n\r\nThe USA despite its dysfunctionality is one country. The EUROZONE is not. It is like comparing apples and pears.\r\n\r\nThe FED has an easier job than the ECB - these are basic facts, clear and unambiguous and should be noted when a glib comment is made on U.S. TV by some commentator, pundit or analyst who probably couldn’t even tell you where GREECE is on a map.\r\n\r\nI digress….\r\n\r\nThe stakes are incredibly high and reputations are on the line in Brussels. My fear is that the “can” is being prepared as I type.\r\n\r\nI fear that if a fudged solution is found we will definitely be back at point zero again within a year, with the same issues, same problems, maybe different players around the table.\r\n\r\nFor once… can the EUROGROUP just suck it up and move on doing what is right for the GREEK people not the damn politicians. If business people were managing this from day one we would not be in this mess now.\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: left;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong>\r\n<strong>(Please note that from April 1<sup>st</sup> 2015, subscription costs are changing and options expanding in line with market conditions and competition)</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nChanges are now at stage two, and I am still confident that the vast majority will be ready for April 1<sup>st</sup>, the rest will be drip-fed throughout the second quarter of 2015.\r\n\r\nThe review as I have mentioned before has become far more reaching than I had originally anticipated.\r\n\r\nThe visible web site changes, the communication alternatives, the revised pricing and options on pricing, are relatively quick and easy to implement. It is the backroom making it happen items that you cannot see that are costly that takes the time.\r\n\r\nThe major change that can’t be seen and, probably one of the crucial ones is the space issue. This will NOT make the deadline I imposed. It is NOT a front-end change that would be noticed anyhow and involves my hosting packages and the re-directs that I have. This is so far above my pay grade, and as it does NOT directly effect what I do from day to day, I am not unduly concerned. However, some of the technology enhancements are dependent on the space issue being solved first before other backroom changes can be made (The chicken and the egg).\r\n\r\nFor existing PREMIUM SERVICE subscribers there will be a questionnaire released within the next 48 hours to canvas opinions and maybe add in a few more enhancements.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-22032015.png\"><img class=\"aligncenter size-full wp-image-5517\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-22032015.png\" alt=\"PROFIT-LOSS RATIO 22032015\" width=\"414\" height=\"582\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-22032015.png\"><img class=\"aligncenter size-full wp-image-5518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-22032015.png\" alt=\"RISK-REWARD 22032015\" width=\"432\" height=\"547\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-22032015.png\"><img class=\"aligncenter size-full wp-image-5515\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-22032015.png\" alt=\"PREM SERV PROFITS1 22032015\" width=\"454\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-22032015.png\"><img class=\"aligncenter size-full wp-image-5516\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-22032015.png\" alt=\"PREM SERV PROFITS2 22032015\" width=\"461\" height=\"422\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">4. PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong>\r\n\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<p style=\"text-align: center;\"><strong>PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT:</strong></p>\r\n&nbsp;\r\n\r\n<strong>Let me introduce Jack:</strong><strong> </strong>\r\n\r\nJack is a professional trader. He makes all his money trading THE FOREX market. He has been trading for five years. He is patient, disciplined and in his trading he is fearless.\r\n\r\n<strong>Let me introduce Peter:</strong>\r\n\r\nPeter is a Newbie. He barely manages to break even with his trading. He has been trading for six months. Peter takes unnecessary risks as he is undisciplined, and he panics when he takes a trade.\r\n\r\n&nbsp;\r\n\r\nMoving on from the pleasantries….\r\n\r\nLet’s imagine we have a super profitable system. On paper, traded mechanically, this system has an average of seven wins from ten trades. Now let’s imagine we give both Jack and Peter this method and they trade it.\r\n\r\nWhat do you think will happen?\r\n\r\n<strong>Jack</strong> will take the system, take the trades and make lots of pips. In fact Jack, will probably improve the efficiency of the system and bump it up to eight winners out of ten.\r\n\r\n<strong>Peter</strong> will take the system; take the trades and pretty much screw it all up. As I said, trading it mechanically will give Peter an average of seven out of ten winners. However Peter will be lucky to get five out of ten winners.\r\n\r\nWhy does it work this way?\r\n\r\nIt all comes down to two things - psychology and experience.\r\n\r\nThere isn’t much you can do about experience. So lets take a look at some of the dangerous psychological pitfalls. Hopefully after reading this, you will be able to see them coming and stop them, before they destroy your account.<strong> </strong>\r\n\r\n<strong>FOUR PSYCHOLOGICAL PITFALLS:</strong>\r\n<ol>\r\n	<li><strong> THE DESIRE TO BE RICH:</strong></li>\r\n</ol>\r\nThe desire to be rich manifests itself in many ways. The main ways are fear and greed and hey inevitably lead to other problems. If you think about it the majority of the issues newbies have stem from the desire to be rich. Things such as\r\n<ul>\r\n	<li>Overtrading</li>\r\n	<li>Poor Money Management by risking too much</li>\r\n</ul>\r\nFOREX will not make you rich in the short term. It will likely take years before you are trading well enough to leave your day job. FOREX is a career in the long run, if you are successful, it can give you a very relaxed life. However, if you started trading last week and you plan to quit your job in six months, because you anticipate being rich enough to by a Ferrari, you are delusional.\r\n\r\nThis is a career, not a get rich quick scheme. If you want to be rich quick hit the casinos. You have a better chance of winning there.\r\n<ol start=\"2\">\r\n	<li><strong> FEAR OF LOSING:</strong></li>\r\n</ol>\r\nFrom a young age we are taught that money is important and that without money you have no real value. We are conditioned to believing that to be successful when we grow up, that we must have lots of money. This is because the reverse is also true. If you lost money then you are a failure as it is the opposite of making money. This in turn leads to some newbie traders being afraid to pull the trigger and actually take a trade.\r\n\r\nSome newbies trade demo accounts for two years, never summoning the courage to open a live account. Some newbie traders with live accounts panic whenever they enter a trade and in turn make rash decisions.\r\n\r\nTake a look at people like Richard Branson, Donald Trump, Alan Sugar and Warren Buffet. These guys are billionaires (or close enough to it) and each of them has failed many times. Richard Branson has spearheaded many failed ventures. Did those failures set him back though? Hell No! The man is going to start flying people to space at $200k per head, next year with Virgin Galactic.\r\n\r\nI think losing some money to the markets is actually beneficial. It teaches you some very important lessons. What is damaging is the fear of losing money. The fact that you think about it puts you at much greater risk of it actually happening. You have to trade with a positive attitude. So get rid of those fears and worries, they will not do you any good.\r\n\r\nThe truth is you are going to lose money to the markets, its unavoidable. Every professional trader has lost money. Not every trade will be profitable. The market simply doesn’t always work in your favor, and there are times especially as a newbie, that you will be stung. If you end up blowing your first live account … so be it. As long as you pick yourself up and try again, you will be a better trader for it.\r\n<ol start=\"3\">\r\n	<li><strong> THE NEED TO BE RIGHT:</strong></li>\r\n</ol>\r\nThis is a good one. Peter opens his platform and enters a dumb, baseless, long trade. He targets 100 pips and has a 50-pip stop loss. The trade goes against him immediately.\r\n\r\nIt goes down, first ten pips, then twenty pips, and then thirty pips. When it reaches forty pips Peter decides he doesn’t want to lose another trade and moves his stop loss down.\r\n\r\nThe price keeps falling:\r\n\r\n100\r\n\r\n120\r\n\r\n150…\r\n\r\nEventually Peter closes out his trade and he has lost a huge portion of his account.\r\n\r\nPeter was not able to accept that he has taken a losing trade. He kept pushing the stop down in the hope that it would eventually turn around. The need to be right is an account killer.\r\n\r\nThere are times when I move my stops, but these are line with my RISK MANAGEMENT targets and ATR’s for stop losses. In addition, sometimes during a “SQUEEZE” they are moved to accommodate the increased level of volatility.\r\n\r\nThis is the aspect of Forex Trading that is my own personal Achilles heel.\r\n<ol start=\"4\">\r\n	<li><strong> BEING UNDISCIPLINED:</strong></li>\r\n</ol>\r\nI saved this one for last because, even though it is one of the most common and dangerous pitfalls, it is rarely discussed. A trader who lacks discipline can never make it in this business. Many traders are guilty of lacking discipline for many reasons.\r\n\r\nThe main culprits are what I like to call “System Jumpers”. These are the traders that are constantly tweaking and changing their trading methods. These traders do not realize that learning to trade a system efficiently takes time.\r\n\r\nSystem Jumpers are traders who lack discipline to stick to, and learn how to trade a system. They try it for a week and when it doesn’t work they jump to the next system or method\r\n\r\nAnother common action of an undisciplined trader is abandoning a perfectly good trading method. Every trading method has period in which it performs below average. No matter how versatile a method is, it cannot perform at peak efficiency in all market conditions. A true trader has the discipline to stick it out through hard times.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW:</span>\r\n\r\nLast week as I wrote earlier was probably the most difficult / craziest week in Forex Trading that I have ever seen, never mind traded. I write this in the full knowledge of trading through the financial crash of 2008-2009. Trading at that time was not difficult it was a pure flight to safety trade. Last week was just, plain crazy.\r\n\r\nI know that I often write that the market is what it is - just suck it up.\r\n\r\nThe response on Wednesday to the FOMC was exaggerated to say the least, and then the retracement on Thursday was bizarre. But the squeeze on Friday back towards the post FOMC highs/lows basically a 61.8% retracement was just totally unexpected and took me completely off guard. I sat there just moving stops initially to the next levels down or up. Thank God I have these on my trade sheets. Then I was looking at Fibonacci’s in disbelief as LIMIT ORDER trades started to trigger. Next, to keep within RISK MANAGEMENT tolerances I was reducing position sizes. I posted lots of small losses which when added up was quite a number.\r\n\r\nFUNDAMENTALLY, I believe that I am in the right trades at great levels moving forward, but I will need to add back to get the profit levels that I want.\r\n\r\nThe PREMIUM SERVICE went backwards by about 34 pips when summarizing the weeks trading. It was about to post a healthy increase until Friday when around the squeeze over 220 losing pips were deducted.\r\n\r\nThe USD/CHF provided some nice profits earlier in the week and several other USD majors contributed to the pip profits until Friday. I thought that it was going to be an excellent week as trading at the beginning of the week was practically non existent as I was waiting for the FOMC release.\r\n\r\nAs you will know, there are now some 13 x LIVE trades going into this week with a further 2 x LIMIT ORDERS waiting in the wings.\r\n\r\nI am finding it hard, and I know from speaking with many of you that getting a consistency moving forward this year has been the challenge. I hear you 100%. I think that from now until the end of April I will just trade a consistent smaller position size with a slightly wider stop in my personal account to match the PREMIUM SERVICE accounts.\r\n\r\nIt is all about consistency. My PREMIUM SERVICE general trading account keeps ticking over. As I stated earlier in the blog, it is only when more than a single lot is risked and the trade concerned turns out to be a losing trade that you have to play catch-up. The principle of single-lot profitable trading works; it’s all about having the right sized account for a MICRO, MINI or STANDARD LOT approach to gain the success.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-22032015.png\"><img class=\"aligncenter size-full wp-image-5521\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-22032015.png\" alt=\"PS LIVE TRADES 22032015\" width=\"730\" height=\"503\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-22032015.png\"><img class=\"aligncenter size-full wp-image-5520\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-22032015.png\" alt=\"PS LIMIT ORDERS 22032015\" width=\"709\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nThis section contains charts relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\nGBP/NZD (weekly):\r\n\r\nThis pair was dropping with GBP weakness at the start of the week. At the end of the weak it was being sold with NZD strength - the classic double whammy.\r\n\r\nI am looking at support a little below existing levels around the trend line support on the chart below at 1.9350.\r\n\r\nEstablishing a long here with a stop below 1.9000 would seem to be a level that may provide support. A lot depends on the NZD/USD though. If it breaks through 0.7520 we may go lower before establishing a base level from which to work from.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDMonthly22032015.png\"><img class=\"aligncenter size-full wp-image-5523\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDMonthly22032015.png\" alt=\"GBPNZDMonthly22032015\" width=\"800\" height=\"600\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-22032015.png\"><img class=\"aligncenter size-full wp-image-5519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-22032015.png\" alt=\"TRENDING PAIRS 22032015\" width=\"384\" height=\"512\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)\r\n\r\n<strong>PLEASE NOTE:\r\n</strong>\r\n\r\n<strong>With many of the USD majors we are close to or have had weekly bullish or bearish engulfing candles. These would usually signify a change in the direction of the engulfing candle. However, sometimes when it is as a result of major events this is not always the case. The wicked moves of Wednesday last week after the FOMC and Fridays massive USD sell-off may temper matters.</strong><strong> </strong>\r\n\r\n<strong>The open later today takes on a new importance for me. I may just close trades depending upon the open, or moves stops into non-moveable static positions.</strong>\r\n\r\n<strong>With your own trades, you trade your own way. I am just alerting you. Longer-term weekly candles are powerful, but after the swings in the market that we have witnessed, and the extremes of volatility that we have seen, I have noticed in the past that sometimes a one-off candle has been ignored. This could be the case now… FUNDAMENTALLY some pairs are what I call upside-down based upon the weekly candle.</strong>\r\n\r\n<strong>It is impossible to tell what will happen at the open, and as you know I hate Sunday night (EDT) Asian market opens.</strong>\r\n\r\n<strong>It is difficult and for you and me…we have no way of telling what way things will happen.</strong>\r\n\r\n<strong>I am a trader, I also like you have skin in the markets.</strong><strong> </strong>\r\n\r\n<strong>I will tweet what I think.</strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0821.</strong>\r\n\r\nIf someone had told me this time last week that we would see a 300 pip move higher in the EUR/USD week on week, I would have said are you nuts or what? I am looking at the chart below saying to myself reversal pattern…. but to what level? 1.1050 the post FOMC spike?\r\n\r\nI have a LIMIT ORDER to sell at 1.0970 – do I adjust this.\r\n\r\nI am not that sure with all the EUROZONE news about to hit regarding GREECE and the EUROGROUP meetings that we could hit above 1.1000.\r\n\r\nMy thoughts are resistance at 1.0860 and support back at 1.0740. A break back through 1.0760 places the bears back in control in my opinion.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5529\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-22032015-1024x517.png\" alt=\"EURUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.4957</strong>.\r\n\r\nWell to me its obvious that 1.5000 will be a big number to break through. The PREMIUM SERVICE is short from 1.4920 and my FUNDAMENTAL view is to try and hold onto this trade no matter what as I firmly believe we are going a lot lower through uncertainty about the UK elections in 5 weeks time.\r\n\r\nLet’s hope over the weekend there are some nice UK tabloid press comments about the EU and Cameron versus UKIP. That would be a nice gift. It might make the GBP/USD GAP LOWER at the open.\r\n\r\nSupport is at 1.4900 and resistance at 1.5000.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5528\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-22032015-1024x517.png\" alt=\"GBPUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>AUD/USD: Closing Price 0.7771</strong>.\r\n\r\nThis could be a big week for the AUD and NZD looking at both weekly charts. I do however have a reservation. Central Bank divergence could bite me on the bum if I go fully into reversal mode with these pairs.\r\n\r\nWe are almost up against a down sloping trend line that has kept this pair in check for weeks. A break through 0.7800 and maybe we are on a trend reversal. There is no major AUD news to peg this pair back unless the RBA speaks out unannounced. I think we are so close to their target area for this pair that they would not want to see it drift higher through 0.8000 once again. This will be interesting to watch.\r\n\r\nSupport is at 0.7750 and resistance at 0.7800.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5530\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-22032015-1024x517.png\" alt=\"AUDUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7556</strong>.\r\n\r\nWe are so close to 0.7620. This has been a key resistance level for this pair for weeks and weeks. If we were to break this level I fear a much larger move higher maybe on the cards. Unlike the RBA, the RBNZ through Wheeler have been playing a dangerous game by not being 100% strong on their policy, they have swung both ways, so to speak. On their side they have directly intervened in the FX markets before and they may have to do it again. Nobody really believes their jawboning anymore and their tricks of re-releasing old documents.\r\n\r\nSupport is at 0.7510 and resistance at 0.7620.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5527\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-22032015-1024x517.png\" alt=\"NZDUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2561.</strong>\r\n\r\nI am so annoyed with myself as I had the chance to exit a USD/CAD long trade on Thursday with nice profits. I held on to let the profitable trade run… well the rest is history as they say. Now I have a bearish engulfing candlestick in front of me.\r\n\r\nIf Crude Oil comes under pressure this will support the move higher, plus the economic data (Retail Sales) on Friday was weak and quite frankly the CAD should not have strengthened so far on this weak data. I know about the candle but we should see a spring back.\r\n\r\nSupport is really good at 1.2450 and resistance back at 1.2650.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5526\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-22032015-1024x517.png\" alt=\"USDCAD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9744</strong>.\r\n\r\nThis pair fell really hard as the EUR/USD rose. The CHF has it’s own motivation at the moment economically via the negative interest rate policy of the SNB and I expect this pair to motor back towards parity this week. We have a daily engulfing candle and maybe we will hover for a while, but I think that there are upward pressures to play out here\r\n\r\nSupport is at 0.9680 and resistance at 0.9850.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5525\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-22032015-1024x517.png\" alt=\"USDCHF WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 120.04. </strong>\r\n\r\nWe are still in the same range in spite of all the shenanigans last week.\r\n\r\nSupport at 115.60 and resistance at 122.00\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5524\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-22032015-1024x517.png\" alt=\"USDJPY WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – ECB Mario Draghi Speaks.\r\nMONDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTUESDAY: EUR – French &amp; German Flash Manufacturing PMI.\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: USD – CPi.\r\nTUESDAY: NZD – Trade Balance.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: CAD – BOC Poloz speaks.\r\n\r\nFRIDAY: USD – GDP.\r\nFRIDAY: USD – FED Janet Yellen speaks.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIf like myself you found last week a difficult week, you can do either one of three things: -\r\n<ol>\r\n	<li>Take a few days off away from your computer screens.</li>\r\n	<li>Get back into trading revitalized after a weekend of reading through the news items that have hit the press with your MACRO / FUNDAMENTAL VIEWS in position ready to attack.</li>\r\n	<li>Gently ease your way back into the markets managing your LIVE /OPEN trades carefully and assess the Asia and European markets responses on Monday morning to the USD sell off on Friday.</li>\r\n</ol>\r\nThere are not as many news events that are market moving this coming week but GREECE is the word….\r\n\r\nThe two boys without ties will be strutting around Brussels looking for the impossible. It is a dangerous game that they are playing and it will no doubt all end in tears, but before that we should get some great sound-bytes from Schauble, Juncker, Dijsselbloem, Weidmann or Nowotny to spice up the week. Getting these does of course create the odd spike in the EUR/USD so be on guard as best you can. Keep stops tighter without being too tight but maybe trade the EUR/USD with a smaller position size to accommodate the potential volatility.\r\n\r\nThere are lots of awkward looking candles on the charts that we will need to review into the early Asian trading later today. So we have a lot to look at early on and establish a clear plan.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 22nd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','ANGELA MERKEL WAS OVERHEARD SAYING “MARIO PASS ME THAT BOTTLE OF OUZO and JEROEN STOP PIGGING ON THE TZATZIKI”','','publish','open','closed','','angela-merkel-was-overheard-saying-mario-pass-me-that-bottle-of-ouzo-and-jeroen-stop-pigging-on-the-tzatziki','','','2015-03-21 15:18:29','2015-03-21 20:18:29','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5543',0,'member_posts','',0),(5544,1,'2015-03-21 15:15:37','2015-03-21 20:15:37','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 22.03.2015\r\n</strong><strong style=\"line-height: 1.5;\">REFERENCE: #52\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">MY OVERVIEW OF THE FOREX MARKET:\r\n</span>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS AT THE FX MARKET:\r\n\r\n<span style=\"text-decoration: underline;\">1.1. LOOKING BACKWARDS:</span>\r\n\r\nWell it never happened. My thoughts this time last week were that the FOMC would demolish the EUR/USD. It never happened, in fact, the responses to the statement, the economic projections and the press conference from my perspective were a little weird. So much pre announcement was levied at the “will she or won’t she” with regards to PATIENT, that a lot of what she did or did NOT say was left to one side. I found the statement a little DOVISH, however, at the end of the day, rate increases are still going to happen. Whilst the market has ruled out June in favor of September, nothing is cast in stone.\r\n\r\nSo I thought the reaction rather overkill and due to the fact we more than reversed the currency moves in the EUR/USD and GBP/USD within 24 hours demonstrated that. Some of the moves in particular the late EUR/USD spike to over 1.1000 was ridiculous… but it is what it is, or rather was what it was.\r\n\r\nThe SNB statement the following day was a damp squib in comparison although, if I recall correctly there were some fantastic currency moves around that time, which made up for the non-announcement.\r\n\r\nLast week was one of the craziest trading weeks that I have ever encountered as a Forex trader. If I had thought that the FOMC FX reaction was mad… it paled into complete insignificance with what came on Friday.\r\n\r\nFriday brought CAD core retail sales, from which a loss trade from the previous overnight moves turned nicely positive on weaker data. I was happy, and then we had a massive USD sell-off.\r\n\r\nWhat started as a focus on my USD/CAD trades turned into a full-blown 4.5-hour series of squeezes. The USD was taken to the woodshed with a huge USD sell-off and GOLD rally, plus a divergence rally move between the Nikkei (6J) and the USD/JPY in for good measure. All I could do was to reduce position sizes and move the odd stop here and there to keep the trades that I wanted alive, kept alive. Reducing position sizes created losses to my accounts.\r\n\r\nThe best I could do was look at my trading charts at the outset of the squeeze, and try to see where it would end.\r\n\r\nUsing the EUR/USD 240M chart I thought that the 38% fib retracement would hold, then, I thought the 50%, it was actually the 61.8% 1.0874 (from the post FOMC highs to the ensuing lows) that held the EUR/USD. It was pretty much the same Fibonacci level across the board that finally held most of the pairs.\r\n\r\nMy frustrations, if the above was not enough were of course further exacerbated as towards the end of the previous day I was in a position to bank some nice $$$ across the board and made the decision to try and let the trades run for more profits. Not only did I miss those $$$ I posted losses within 24 hours on those trades and some more.\r\n\r\nAll in all, it was a very frustrating and annoying end to the week. I seem to be in a one step forward, two steps backward routine at the moment. But this is the Forex Market.\r\n\r\n<span style=\"text-decoration: underline;\">1.2. LOOKING FORWARDS:</span>\r\n\r\nNext week, there are not as many high profile news events to contend with, just three Central Bank governors speak; Draghi, Yellen and Poloz. Hopefully, therefore we will have a more sedate trading week, gather our thoughts and breathe again with some nice directional trading. Yeah right… as if that’s going to happen… hell would freeze over first!\r\n\r\nWe have GREECE. Yup, GREECE is back in the picture again, God love them. “The two tieless flutes” (Tsipras and Varoufakis) will be back in Brussels, Berlin and Frankfurt next week trying to re-negotiate the nonnegotiable. If it looks like PIG, grunts like a PIG guess what it is? Whichever way I view the GREECE V EUROGROUP picture, everything is being done to make it look like its NOT a default but in essence it’s at best a restructuring of debt to avoid a default. This will all end in tears.\r\n\r\n<span style=\"text-decoration: underline;\">1.3. LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\nWe have had one hell of a ride trading Forex so far this year. This past week was without doubt one of the craziest weeks that I have ever traded, and, for the first part of the week I DID NOT trade much at all!… I was on hold waiting for the FOMC.\r\n\r\nI have spoken with several subscribers over the last few days and many feel like they have been beaten to a pulp, got back up again, then beaten down, back up and beaten down again. They scan TWITTER, GOOGLE+ and watch CNBC or BLOOMBERG to try to obtain a perspective. They find nothing other than “Happy Larry’s” saying buy, buy, buy and then buy some more. Nobody seems to lose money on Twitter either. Everyone appears to “Bottom Pick or Top Tick” the market. It is very depressing.\r\n\r\nI have given this response on more than 4 or 5 occasions referring to the media analysts and barrage of tweets on Twitter etc. who claim parts or most if not all of the following –\r\n\r\n<em>“I never lost money on that move, or the previous big spike or collapse that happened I was in the right way, this is what I made, and these were my entries and exits”</em>\r\n\r\nThis is what I have been saying…..\r\n\r\nIf you have been caught on the wrong side of major spikes and moves more than being on the right side - do not despair; everybody has to be on the wrong side sometimes. If they are never on the wrong side they either DO NOT trade or they are bullsh*****s.\r\n\r\nIf you are sick to the back teeth of the same people on twitter or hosting webinars saying how wonderful trading is and how much money they are making – do not despair; if they never lose money it’s bulls**t, or they simply just DO NOT trade, they are theorists and at best historians by saying look this is what I did.\r\n\r\nIf you see the same people over and over again boasting about nothing but being on the right side of every move – do not despair; either go to Vegas with them if you can, because they are the luckiest bastards around or take it as read they are bullsh*****s.\r\n\r\nWhen you see the same people on twitter or wherever that never lose money, and are always on the right side of very move, always at their machines when a squeeze starts and are in at the bottom of a move higher and out on every top tick – do not despair; they either wear depends, or they are not human; they are bullsh*****s\r\n\r\nIt’s all bulls**t…. there is a lot of bulls**t in Forex. It’s a part of Forex that you have to live with and ignore a lot of it.\r\n\r\nI take losses and I tell you about them in this blog and on twitter. I do the best that I can with the PREMIUM SERVICE to limit losses. I am in Forex for the long-haul and that means that from time to time your account does suffer but it does come back if you stick to your principles.\r\n\r\nMy own trading accounts are out of the money this year so far, mostly due to my FXCM (GBP/CHF) trade. However, not all my losses came from the SNB day, some are from the PREMIUM SERVICE trades where I took larger than single lot trades in my personal account and they failed to make a profit. This creates an imbalance between $$$ and pips profits or losses. This is due to the fact that the size of the trade can influence the $$$, so a small loss on a big position can outweigh a big pip profit move with a small position.\r\n\r\nTo illustrate this – if you have a profitable trade with one mini lot that makes 50 pips it could yield $50, however if you have a 5 mini lot trade that loses 20 pips that could yield a loss of $100 thus outweighing the bigger pip profit of the smaller position. Yet, the single lot PREMIUM SERVICE trading accounts when added together with the trades analyzed through my twitter / email set-ups and my excel spread sheets are <span style=\"text-decoration: underline;\">still in the black - in profit</span>.\r\n\r\nI have subscribers who only trade single lot trades, and make money. The PREMIUM SERVICE worked last year in 2014 and it STILL works this year, as a trader you just have to be more realistic setting goals and objectives.\r\n\r\nThe markets are insatiable when it comes to FEAR and GREED. It is only when FEAR and GREED enter, that the picture changes, greed may make us trade larger position sizes for some currencies that we feel more confident with, or see $$$ in our eyes. Or perhaps we adjust trade sizes to cope with more volatile pairs.\r\n\r\ne.g. If you trade with 5 x MINI lots the EUR/USD. , you should not trade 5 x MINI lots with the GBP/NZD. You may trade just 1 x MINI LOT because of volatility and RISK MANAGEMENT issues associated with this pair.\r\n\r\nWhen different position sizes are used across all the trade set-ups that are presented the mix of position sizes in relation to the profit / loss ratio creates an inconsistent return when correlated to the PREMIUM SERVICE returns.\r\n\r\nConsistency is important, and to establish consistency it may be better to trade a consistent lot size in all trades except for commodity crosses, which are more volatile and involve a higher risk. Therefore this all depends on the size of your broker account and your risk tolerances.\r\n\r\nThis is just food for thought; not just for you as a reader but also for me as the instigator of the PREMIUM SERVICE trade set-ups. Sometimes when something is right in front of your face you still cannot see it.\r\n\r\nLike most of you; <span style=\"text-decoration: underline;\">I am a trader I have skin in the market</span>.\r\n\r\nIf you would like more information on this subject, maybe a chat on SKYPE or an email about this, contact me using the details at the end of this blog.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>ANGELA MERKEL WAS OVERHEARD SAYING\r\n</strong><strong>“MARIO, PASS ME THAT BOTTLE OF OUZO and JEROEN STOP PIGGING ON THE TZATZIKI”</strong></p>\r\nYes, you guessed it – Mr. Casual aka Alexis Tsipras the GREECE Prime Minister was back in Brussels having “off-site” emergency talks with the EUROGROUP regarding the GREEK bailout.\r\n\r\nThis long running saga is really like a west-end farce, in fact it’s now so long running I think that it challenges Agatha Christies “THE MOUSETRAP” that had a phenomenal continuous run in the London theatre. I cannot remember how many weeks it ran for but the GREEK story, God love them, is starting to wear me down. Is it any wonder that Mario Draghi is consuming Raki, Ouzo and Retsina faster than Jeroen Dijsselbloem can say his own surname!\r\n\r\nEnough is enough.\r\n\r\nI firmly believe that the only reason that the EUROGROUP is entertaining “no tie” is because they want to ensure an orderly GREXIT from the single currency. A disorderly GREXIT would place a massive stress on the ECB and the Bundesbank.\r\n\r\nIn an interesting twist however, on Friday the EU Commission President, Jean-Claude Junker released €2 billion on humanitarian grounds to help the Greek government deal with the crisis in the country that is affecting the poor and the hardest hit by the financial crisis.\r\n\r\nWouldn’t you just think…\r\n\r\nAusterity did NOT work; it is STILL NOT WORKING and refinancing the Greek debt is just avoiding a default. No matter what is done, the EUROGROUP policy on GREECE, with or without the IMF (International Monetary Fund) hooked into the deal along with the ECB to form the TRIOKA to make it look like a wider base of support and aid was going to fail before it even started.\r\n\r\nThe Germans are at fault in my opinion. Schauble is a loose cannon that fires up high emotions. Culturally, the Germans and the Greek peoples are worlds apart.\r\n\r\nThe bartering process that “no tie” is in at the moment is a normal Mediterranean way of negotiation, and, whether you believe he has no bargaining chips at all it is totally irrelevant. To Northern Europeans, like Merkel, Hollande, Diijsselbloem and Donald Tusk from Poland who chairs the EUROGROUP summits who quite frankly cannot understand why “no tie” will not move his position, it causes them to become exasperated and dig in their heels. They believe and maybe quite rightly in their eyes that enough is enough and its our way or the highway. This is pure and simple cultural divergence.\r\n\r\nTsipras (no tie), knows that the EUROZONE banks, many of them German and French have lots of €€€€€€ hanging around the GREECE financial sector. This is the backdrop and sword of Damocles hanging over the negotiations. “No tie” fully knows the fragile economy that exists across the EUROZONE would be thrown into turmoil if a disorderly GREXIT were to happen. In the background there is the fear of the Greek government running out of money, but would it actually happen?\r\n\r\nThink outside the box. Both RUSSIA and CHINA would love to get a foothold in the area for many reasons, not just political. Humanitarian grounds would be the sales pitch should either of these nations offer emergency financing.\r\n\r\nGREECE needs debt relief.\r\n\r\nThe EUROGROUP needs to suck it up and provide a “Cash Back” deal to Portugal, Ireland, Cyprus etc. in fact, any country that has effectively had a bailout of one sort or another from the EUROGROUP since the 2008-9 crash.\r\n\r\nIt is so straightforward – if they do nothing they risk another financial crash, another run on the banks, negative growth DEFLATION….. this list can go on for pages.\r\n\r\nSuck it up….\r\n\r\nFor once; do not kick yet another can down the road.\r\n\r\nWhatever words are written on a GREEK BLUEPRINT for economic reforms moving forward may as well be on paper supplied by Tom Cruise’s bosses in Mission Impossible, it will self destruct 30 minutes after signature and the monies are transferred. If the GREEKS could not reform before, gather taxes before, or manage the books before on the previous two bailouts why is it going to work this time. They are more in debt now than when they first came to the table looking for help years ago. It is so sad for GREECE that they were sold a lemon.\r\n\r\nAusterity was NOT the way. It has NOT worked, and for Germany to continue down this road with the same old same old is complete and utter bollo**s. There are 19 countries using the single currency, 19 vastly different cultures that approach all aspects of life and business from a different perspective. One size does NOT fit all.\r\n\r\nThese are high stakes. It has taken Mario Draghi at the ECB years to create some stability. This is the ultimate risk. The credibility of the German approach, I would say stubborn approach. They appear totally intransigent to an alternative.\r\n\r\nI am not saying that the U.S. approach was brilliant, quite frankly it made fat cats fatter and moved Wall Street poles apart from Main Street. The poor are poorer and the rich are richer as result of the FED approach in the USA. Poverty is simply swept under the carpet. However, the Ben Bernanke approach was so supportive to the financial markets (ex. Lehman Brothers) that stability and credibility were restored in very good time. Granted, it is still a fragile economy and the economic data shows this. If everything in the garden was “peachy”, interest rates in the U.S. would be at 0.5% by now… they are not.\r\n\r\nBy comparison, and it is hard to compare, as many American commentators some who have been around for years, such as Joe Kernan on CNBC, simply do not understand that the EUROZONE area consists of 28 countries, 19 of these use the € (single currency) plus there are a number of principalities that have monetary agreements like Andorra and Monaco.\r\n\r\nThe USA despite its dysfunctionality is one country. The EUROZONE is not. It is like comparing apples and pears.\r\n\r\nThe FED has an easier job than the ECB - these are basic facts, clear and unambiguous and should be noted when a glib comment is made on U.S. TV by some commentator, pundit or analyst who probably couldn’t even tell you where GREECE is on a map.\r\n\r\nI digress….\r\n\r\nThe stakes are incredibly high and reputations are on the line in Brussels. My fear is that the “can” is being prepared as I type.\r\n\r\nI fear that if a fudged solution is found we will definitely be back at point zero again within a year, with the same issues, same problems, maybe different players around the table.\r\n\r\nFor once… can the EUROGROUP just suck it up and move on doing what is right for the GREEK people not the damn politicians. If business people were managing this from day one we would not be in this mess now.\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong>\r\n<strong>(Please note that from April 1<sup>st</sup> 2015, subscription costs are changing and options expanding in line with market conditions and competition)</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nChanges are now at stage two, and I am still confident that the vast majority will be ready for April 1<sup>st</sup>, the rest will be drip-fed throughout the second quarter of 2015.\r\n\r\nThe review as I have mentioned before has become far more reaching than I had originally anticipated.\r\n\r\nThe visible web site changes, the communication alternatives, the revised pricing and options on pricing, are relatively quick and easy to implement. It is the backroom making it happen items that you cannot see that are costly that takes the time.\r\n\r\nThe major change that can’t be seen and, probably one of the crucial ones is the space issue. This will NOT make the deadline I imposed. It is NOT a front-end change that would be noticed anyhow and involves my hosting packages and the re-directs that I have. This is so far above my pay grade, and as it does NOT directly effect what I do from day to day, I am not unduly concerned. However, some of the technology enhancements are dependent on the space issue being solved first before other backroom changes can be made (The chicken and the egg).\r\n\r\nFor existing PREMIUM SERVICE subscribers there will be a questionnaire released within the next 48 hours to canvas opinions and maybe add in a few more enhancements.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-22032015.png\"><img class=\"aligncenter size-full wp-image-5517\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-22032015.png\" alt=\"PROFIT-LOSS RATIO 22032015\" width=\"414\" height=\"582\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-22032015.png\"><img class=\"aligncenter size-full wp-image-5518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-22032015.png\" alt=\"RISK-REWARD 22032015\" width=\"432\" height=\"547\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-22032015.png\"><img class=\"aligncenter size-full wp-image-5515\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-22032015.png\" alt=\"PREM SERV PROFITS1 22032015\" width=\"454\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-22032015.png\"><img class=\"aligncenter size-full wp-image-5516\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-22032015.png\" alt=\"PREM SERV PROFITS2 22032015\" width=\"461\" height=\"422\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">4. PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong>\r\n\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<p style=\"text-align: center;\"><strong>PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT:</strong></p>\r\n&nbsp;\r\n\r\n<strong>Let me introduce Jack:</strong><strong> </strong>\r\n\r\nJack is a professional trader. He makes all his money trading THE FOREX market. He has been trading for five years. He is patient, disciplined and in his trading he is fearless.\r\n\r\n<strong>Let me introduce Peter:</strong>\r\n\r\nPeter is a Newbie. He barely manages to break even with his trading. He has been trading for six months. Peter takes unnecessary risks as he is undisciplined, and he panics when he takes a trade.\r\n\r\n&nbsp;\r\n\r\nMoving on from the pleasantries….\r\n\r\nLet’s imagine we have a super profitable system. On paper, traded mechanically, this system has an average of seven wins from ten trades. Now let’s imagine we give both Jack and Peter this method and they trade it.\r\n\r\nWhat do you think will happen?\r\n\r\n<strong>Jack</strong> will take the system, take the trades and make lots of pips. In fact Jack, will probably improve the efficiency of the system and bump it up to eight winners out of ten.\r\n\r\n<strong>Peter</strong> will take the system; take the trades and pretty much screw it all up. As I said, trading it mechanically will give Peter an average of seven out of ten winners. However Peter will be lucky to get five out of ten winners.\r\n\r\nWhy does it work this way?\r\n\r\nIt all comes down to two things - psychology and experience.\r\n\r\nThere isn’t much you can do about experience. So lets take a look at some of the dangerous psychological pitfalls. Hopefully after reading this, you will be able to see them coming and stop them, before they destroy your account.<strong> </strong>\r\n\r\n<strong>FOUR PSYCHOLOGICAL PITFALLS:</strong>\r\n<ol>\r\n	<li><strong> THE DESIRE TO BE RICH:</strong></li>\r\n</ol>\r\nThe desire to be rich manifests itself in many ways. The main ways are fear and greed and hey inevitably lead to other problems. If you think about it the majority of the issues newbies have stem from the desire to be rich. Things such as\r\n<ul>\r\n	<li>Overtrading</li>\r\n	<li>Poor Money Management by risking too much</li>\r\n</ul>\r\nFOREX will not make you rich in the short term. It will likely take years before you are trading well enough to leave your day job. FOREX is a career in the long run, if you are successful, it can give you a very relaxed life. However, if you started trading last week and you plan to quit your job in six months, because you anticipate being rich enough to by a Ferrari, you are delusional.\r\n\r\nThis is a career, not a get rich quick scheme. If you want to be rich quick hit the casinos. You have a better chance of winning there.\r\n<ol start=\"2\">\r\n	<li><strong> FEAR OF LOSING:</strong></li>\r\n</ol>\r\nFrom a young age we are taught that money is important and that without money you have no real value. We are conditioned to believing that to be successful when we grow up, that we must have lots of money. This is because the reverse is also true. If you lost money then you are a failure as it is the opposite of making money. This in turn leads to some newbie traders being afraid to pull the trigger and actually take a trade.\r\n\r\nSome newbies trade demo accounts for two years, never summoning the courage to open a live account. Some newbie traders with live accounts panic whenever they enter a trade and in turn make rash decisions.\r\n\r\nTake a look at people like Richard Branson, Donald Trump, Alan Sugar and Warren Buffet. These guys are billionaires (or close enough to it) and each of them has failed many times. Richard Branson has spearheaded many failed ventures. Did those failures set him back though? Hell No! The man is going to start flying people to space at $200k per head, next year with Virgin Galactic.\r\n\r\nI think losing some money to the markets is actually beneficial. It teaches you some very important lessons. What is damaging is the fear of losing money. The fact that you think about it puts you at much greater risk of it actually happening. You have to trade with a positive attitude. So get rid of those fears and worries, they will not do you any good.\r\n\r\nThe truth is you are going to lose money to the markets, its unavoidable. Every professional trader has lost money. Not every trade will be profitable. The market simply doesn’t always work in your favor, and there are times especially as a newbie, that you will be stung. If you end up blowing your first live account … so be it. As long as you pick yourself up and try again, you will be a better trader for it.\r\n<ol start=\"3\">\r\n	<li><strong> THE NEED TO BE RIGHT:</strong></li>\r\n</ol>\r\nThis is a good one. Peter opens his platform and enters a dumb, baseless, long trade. He targets 100 pips and has a 50-pip stop loss. The trade goes against him immediately.\r\n\r\nIt goes down, first ten pips, then twenty pips, and then thirty pips. When it reaches forty pips Peter decides he doesn’t want to lose another trade and moves his stop loss down.\r\n\r\nThe price keeps falling:\r\n\r\n100\r\n\r\n120\r\n\r\n150…\r\n\r\nEventually Peter closes out his trade and he has lost a huge portion of his account.\r\n\r\nPeter was not able to accept that he has taken a losing trade. He kept pushing the stop down in the hope that it would eventually turn around. The need to be right is an account killer.\r\n\r\nThere are times when I move my stops, but these are line with my RISK MANGEMENT targets and ATR’s for stop losses. In addition, sometimes during a “SQUEEZE” they are moved to accommodate the increased level of volatility.\r\n\r\nThis is the aspect of Forex Trading that is my own personal Achilles heel.\r\n<ol start=\"4\">\r\n	<li><strong> BEING UNDISCIPLINED:</strong></li>\r\n</ol>\r\nI saved this one for last because, even though it is one of the most common and dangerous pitfalls, it is rarely discussed. A trader who lacks discipline can never make it in this business. Many traders are guilty of lacking discipline for many reasons.\r\n\r\nThe main culprits are what I like to call “System Jumpers”. These are the traders that are constantly tweaking and changing their trading methods. These traders do not realize that learning to trade a system efficiently takes time.\r\n\r\nSystem Jumpers are traders who lack discipline to stick to, and learn how to trade a system. They try it for a week and when it doesn’t work they jump to the next system or method\r\n\r\nAnother common action of an undisciplined trader is abandoning a perfectly good trading method. Every trading method has period in which it performs below average. No matter how versatile a method is, it cannot perform at peak efficiency in all market conditions. A true trader has the discipline to stick it out through hard times.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW:</span>\r\n\r\nLast week as I wrote earlier was probably the most difficult / craziest week in Forex Trading that I have ever seen, never mind traded. I write this in the full knowledge of trading through the financial crash of 2008-2009. Trading at that time was not difficult it was a pure flight to safety trade. Last week was just, plain crazy.\r\n\r\nI know that I often write that the market is what it is - just suck it up.\r\n\r\nThe response on Wednesday to the FOMC was exaggerated to say the least, and then the retracement on Thursday was bizarre. But the squeeze on Friday back towards the post FOMC highs/lows basically a 61.8% retracement was just totally unexpected and took me completely off guard. I sat there just moving stops initially to the next levels down or up. Thank God I have these on my trade sheets. Then I was looking at Fibonacci’s in disbelief as LIMIT ORDER trades started to trigger. Next, to keep within RISK MANAGEMENT tolerances I was reducing position sizes. I posted lots of small losses which when added up was quite a number.\r\n\r\nFUNDAMENTALLY, I believe that I am in the right trades at great levels moving forward, but I will need to add back to get the profit levels that I want.\r\n\r\nThe PREMIUM SERVICE went backwards by about 34 pips when summarizing the weeks trading. It was about to post a healthy increase until Friday when around the squeeze over 220 losing pips were deducted.\r\n\r\nThe USD/CHF provided some nice profits earlier in the week and several other USD majors contributed to the pip profits until Friday. I thought that it was going to be an excellent week as trading at the beginning of the week was practically non existent as I was waiting for the FOMC release.\r\n\r\nAs you will know, there are now some 13 x LIVE trades going into this week with a further 2 x LIMIT ORDERS waiting in the wings.\r\n\r\nI am finding it hard, and I know from speaking with many of you that getting a consistency moving forward this year has been the challenge. I hear you 100%. I think that from now until the end of April I will just trade a consistent smaller position size with a slightly wider stop in my personal account to match the PREMIUM SERVICE accounts.\r\n\r\nIt is all about consistency. My PREMIUM SERVICE general trading account keeps ticking over. As I stated earlier in the blog, it is only when more than a single lot is risked and the trade concerned turns out to be a losing trade that you have to play catch-up. The principle of single-lot profitable trading works; it’s all about having the right sized account for a MICRO, MINI or STANDARD LOT approach to gain the success.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-22032015.png\"><img class=\"aligncenter size-full wp-image-5521\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-22032015.png\" alt=\"PS LIVE TRADES 22032015\" width=\"730\" height=\"503\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-22032015.png\"><img class=\"aligncenter size-full wp-image-5520\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-22032015.png\" alt=\"PS LIMIT ORDERS 22032015\" width=\"709\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUINDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nThis section contains charts relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\nGBP/NZD (weekly):\r\n\r\nThis pair was dropping with GBP weakness at the start of the week. At the end of the weak it was being sold with NZD strength - the classic double whammy.\r\n\r\nI am looking at support a little below existing levels around the trend line support on the chart below at 1.9350.\r\n\r\nEstablishing a long here with a stop below 1.9000 would seem to be a level that may provide support. A lot depends on the NZD/USD though. If it breaks through 0.7520 we may go lower before establishing a base level from which to work from.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDMonthly22032015.png\"><img class=\"aligncenter size-full wp-image-5523\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDMonthly22032015.png\" alt=\"GBPNZDMonthly22032015\" width=\"800\" height=\"600\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-22032015.png\"><img class=\"aligncenter size-full wp-image-5519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-22032015.png\" alt=\"TRENDING PAIRS 22032015\" width=\"384\" height=\"512\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)\r\n\r\n<strong>PLEASE NOTE:\r\n</strong>\r\n\r\n<strong>With many of the USD majors we are close to or have had weekly bullish or bearish engulfing candles. These would usually signify a change in the direction of the engulfing candle. However, sometimes when it is as a result of major events this is not always the case. The wicked moves of Wednesday last week after the FOMC and Fridays massive USD sell-off may temper matters.</strong><strong> </strong>\r\n\r\n<strong>The open later today takes on a new importance for me. I may just close trades depending upon the open, or moves stops into non-moveable static positions.</strong>\r\n\r\n<strong>With your own trades, you trade your own way. I am just alerting you. Longer-term weekly candles are powerful, but after the swings in the market that we have witnessed, and the extremes of volatility that we have seen, I have noticed in the past that sometimes a one-off candle has been ignored. This could be the case now… FUNDAMENTALLY some pairs are what I call upside-down based upon the weekly candle.</strong>\r\n\r\n<strong>It is impossible to tell what will happen at the open, and as you know I hate Sunday night (EDT) Asian market opens.</strong>\r\n\r\n<strong>It is difficult and for you and me…we have no way of telling what way things will happen.</strong>\r\n\r\n<strong>I am a trader, I also like you have skin in the markets.</strong><strong> </strong>\r\n\r\n<strong>I will tweet what I think.</strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0821.</strong>\r\n\r\nIf someone had told me this time last week that we would see a 300 pip move higher in the EUR/USD week on week, I would have said are you nuts or what? I am looking at the chart below saying to myself reversal pattern…. but to what level? 1.1050 the post FOMC spike?\r\n\r\nI have a LIMIT ORDER to sell at 1.0970 – do I adjust this.\r\n\r\nI am not that sure with all the EUROZONE news about to hit regarding GREECE and the EUROGROUP meetings that we could hit above 1.1000.\r\n\r\nMy thoughts are resistance at 1.0860 and support back at 1.0740. A break back through 1.0760 places the bears back in control in my opinion.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5529\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-22032015-1024x517.png\" alt=\"EURUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.4957</strong>.\r\n\r\nWell to me its obvious that 1.5000 will be a big number to break through. The PREMIUM SERVICE is short from 1.4920 and my FUNDAMENTAL view is to try and hold onto this trade no matter what as I firmly believe we are going a lot lower through uncertainty about the UK elections in 5 weeks time.\r\n\r\nLet’s hope over the weekend there are some nice UK tabloid press comments about the EU and Cameron versus UKIP. That would be a nice gift. It might make the GBP/USD GAP LOWER at the open.\r\n\r\nSupport is at 1.4900 and resistance at 1.5000.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5528\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-22032015-1024x517.png\" alt=\"GBPUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>AUD/USD: Closing Price 0.7771</strong>.\r\n\r\nThis could be a big week for the AUD and NZD looking at both weekly charts. I do however have a reservation. Central Bank divergence could bite me on the bum if I go fully into reversal mode with these pairs.\r\n\r\nWe are almost up against a down sloping trend line that has kept this pair in check for weeks. A break through 0.7800 and maybe we are on a trend reversal. There is no major AUD news to peg this pair back unless the RBA speaks out unannounced. I think we are so close to their target area for this pair that they would not want to see it drift higher through 0.8000 once again. This will be interesting to watch.\r\n\r\nSupport is at 0.7750 and resistance at 0.7800.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5530\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-22032015-1024x517.png\" alt=\"AUDUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7556</strong>.\r\n\r\nWe are so close to 0.7620. This has been a key resistance level for this pair for weeks and weeks. If we were to break this level I fear a much larger move higher maybe on the cards. Unlike the RBA, the RBNZ through Wheeler have been playing a dangerous game by not being 100% strong on their policy, they have swung both ways, so to speak. On their side they have directly intervened in the FX markets before and they may have to do it again. Nobody really believes their jawboning anymore and their tricks of re-releasing old documents.\r\n\r\nSupport is at 0.7510 and resistance at 0.7620.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5527\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-22032015-1024x517.png\" alt=\"NZDUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2561.</strong>\r\n\r\nI am so annoyed with myself as I had the chance to exit a USD/CAD long trade on Thursday with nice profits. I held on to let the profitable trade run… well the rest is history as they say. Now I have a bearish engulfing candlestick in front of me.\r\n\r\nIf Crude Oil comes under pressure this will support the move higher, plus the economic data (Retail Sales) on Friday was weak and quite frankly the CAD should not have strengthened so far on this weak data. I know about the candle but we should see a spring back.\r\n\r\nSupport is really good at 1.2450 and resistance back at 1.2650.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5526\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-22032015-1024x517.png\" alt=\"USDCAD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9744</strong>.\r\n\r\nThis pair fell really hard as the EUR/USD rose. The CHF has it’s own motivation at the moment economically via the negative interest rate policy of the SNB and I expect this pair to motor back towards parity this week. We have a daily engulfing candle and maybe we will hover for a while, but I think that there are upward pressures to play out here\r\n\r\nSupport is at 0.9680 and resistance at 0.9850.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5525\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-22032015-1024x517.png\" alt=\"USDCHF WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 120.04. </strong>\r\n\r\nWe are still in the same range in spite of all the shenanigans last week.\r\n\r\nSupport at 115.60 and resistance at 122.00\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5524\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-22032015-1024x517.png\" alt=\"USDJPY WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – ECB Mario Draghi Speaks.\r\nMONDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTUESDAY: EUR – French &amp; German Flash Manufacturing PMI.\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: USD – CPi.\r\nTUESDAY: NZD – Trade Balance.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: CAD – BOC Poloz speaks.\r\n\r\nFRIDAY: USD – GDP.\r\nFRIDAY: USD – FED Janet Yellen speaks.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIf like myself you found last week a difficult week, you can do either one of three things: -\r\n<ol>\r\n	<li>Take a few days off away from your computer screens.</li>\r\n	<li>Get back into trading revitalized after a weekend of reading through the news items that have hit the press with your MACRO / FUNDAMENTAL VIEWS in position ready to attack.</li>\r\n	<li>Gently ease your way back into the markets managing your LIVE /OPEN trades carefully and assess the Asia and European markets responses on Monday morning to the USD sell off on Friday.</li>\r\n</ol>\r\nThere are not as many news events that are market moving this coming week but GREECE is the word….\r\n\r\nThe two boys without ties will be strutting around Brussels looking for the impossible. It is a dangerous game that they are playing and it will no doubt all end in tears, but before that we should get some great sound-bytes from Schauble, Juncker, Dijsselbloem, Weidmann or Nowotny to spice up the week. Getting these does of course create the odd spike in the EUR/USD so be on guard as best you can. Keep stops tighter without being too tight but maybe trade the EUR/USD with a smaller position size to accommodate the potential volatility.\r\n\r\nThere are lots of awkward looking candles on the charts that we will need to review into the early Asian trading later today. So we have a lot to look at early on and establish a clear plan.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 22nd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','ANGELA MERKEL WAS OVERHEARD SAYING “MARIO PASS ME THAT BOTTLE OF OUZO and JEROEN STOP PIGGING ON THE TZATZIKI”','','inherit','open','closed','','5543-revision-v1','','','2015-03-21 15:15:37','2015-03-21 20:15:37','',5543,'https://weeklyfxdrivethru.com/5543-revision-v1/',0,'revision','',0),(5545,1,'2015-03-21 15:18:10','2015-03-21 20:18:10','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 22.03.2015\r\n</strong><strong style=\"line-height: 1.5;\">REFERENCE: #52\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">MY OVERVIEW OF THE FOREX MARKET:\r\n</span>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS AT THE FX MARKET:\r\n\r\n<span style=\"text-decoration: underline;\">1.1. LOOKING BACKWARDS:</span>\r\n\r\nWell it never happened. My thoughts this time last week were that the FOMC would demolish the EUR/USD. It never happened, in fact, the responses to the statement, the economic projections and the press conference from my perspective were a little weird. So much pre announcement was levied at the “will she or won’t she” with regards to PATIENT, that a lot of what she did or did NOT say was left to one side. I found the statement a little DOVISH, however, at the end of the day, rate increases are still going to happen. Whilst the market has ruled out June in favor of September, nothing is cast in stone.\r\n\r\nSo I thought the reaction rather overkill and due to the fact we more than reversed the currency moves in the EUR/USD and GBP/USD within 24 hours demonstrated that. Some of the moves in particular the late EUR/USD spike to over 1.1000 was ridiculous… but it is what it is, or rather was what it was.\r\n\r\nThe SNB statement the following day was a damp squib in comparison although, if I recall correctly there were some fantastic currency moves around that time, which made up for the non-announcement.\r\n\r\nLast week was one of the craziest trading weeks that I have ever encountered as a Forex trader. If I had thought that the FOMC FX reaction was mad… it paled into complete insignificance with what came on Friday.\r\n\r\nFriday brought CAD core retail sales, from which a loss trade from the previous overnight moves turned nicely positive on weaker data. I was happy, and then we had a massive USD sell-off.\r\n\r\nWhat started as a focus on my USD/CAD trades turned into a full-blown 4.5-hour series of squeezes. The USD was taken to the woodshed with a huge USD sell-off and GOLD rally, plus a divergence rally move between the Nikkei (6J) and the USD/JPY in for good measure. All I could do was to reduce position sizes and move the odd stop here and there to keep the trades that I wanted alive, kept alive. Reducing position sizes created losses to my accounts.\r\n\r\nThe best I could do was look at my trading charts at the outset of the squeeze, and try to see where it would end.\r\n\r\nUsing the EUR/USD 240M chart I thought that the 38% fib retracement would hold, then, I thought the 50%, it was actually the 61.8% 1.0874 (from the post FOMC highs to the ensuing lows) that held the EUR/USD. It was pretty much the same Fibonacci level across the board that finally held most of the pairs.\r\n\r\nMy frustrations, if the above was not enough were of course further exacerbated as towards the end of the previous day I was in a position to bank some nice $$$ across the board and made the decision to try and let the trades run for more profits. Not only did I miss those $$$ I posted losses within 24 hours on those trades and some more.\r\n\r\nAll in all, it was a very frustrating and annoying end to the week. I seem to be in a one step forward, two steps backward routine at the moment. But this is the Forex Market.\r\n\r\n<span style=\"text-decoration: underline;\">1.2. LOOKING FORWARDS:</span>\r\n\r\nNext week, there are not as many high profile news events to contend with, just three Central Bank governors speak; Draghi, Yellen and Poloz. Hopefully, therefore we will have a more sedate trading week, gather our thoughts and breathe again with some nice directional trading. Yeah right… as if that’s going to happen… hell would freeze over first!\r\n\r\nWe have GREECE. Yup, GREECE is back in the picture again, God love them. “The two tieless flutes” (Tsipras and Varoufakis) will be back in Brussels, Berlin and Frankfurt next week trying to re-negotiate the nonnegotiable. If it looks like PIG, grunts like a PIG guess what it is? Whichever way I view the GREECE V EUROGROUP picture, everything is being done to make it look like its NOT a default but in essence it’s at best a restructuring of debt to avoid a default. This will all end in tears.\r\n\r\n<span style=\"text-decoration: underline;\">1.3. LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\nWe have had one hell of a ride trading Forex so far this year. This past week was without doubt one of the craziest weeks that I have ever traded, and, for the first part of the week I DID NOT trade much at all!… I was on hold waiting for the FOMC.\r\n\r\nI have spoken with several subscribers over the last few days and many feel like they have been beaten to a pulp, got back up again, then beaten down, back up and beaten down again. They scan TWITTER, GOOGLE+ and watch CNBC or BLOOMBERG to try to obtain a perspective. They find nothing other than “Happy Larry’s” saying buy, buy, buy and then buy some more. Nobody seems to lose money on Twitter either. Everyone appears to “Bottom Pick or Top Tick” the market. It is very depressing.\r\n\r\nI have given this response on more than 4 or 5 occasions referring to the media analysts and barrage of tweets on Twitter etc. who claim parts or most if not all of the following –\r\n\r\n<em>“I never lost money on that move, or the previous big spike or collapse that happened I was in the right way, this is what I made, and these were my entries and exits”</em>\r\n\r\nThis is what I have been saying…..\r\n\r\nIf you have been caught on the wrong side of major spikes and moves more than being on the right side - do not despair; everybody has to be on the wrong side sometimes. If they are never on the wrong side they either DO NOT trade or they are bullsh*****s.\r\n\r\nIf you are sick to the back teeth of the same people on twitter or hosting webinars saying how wonderful trading is and how much money they are making – do not despair; if they never lose money it’s bulls**t, or they simply just DO NOT trade, they are theorists and at best historians by saying look this is what I did.\r\n\r\nIf you see the same people over and over again boasting about nothing but being on the right side of every move – do not despair; either go to Vegas with them if you can, because they are the luckiest bastards around or take it as read they are bullsh*****s.\r\n\r\nWhen you see the same people on twitter or wherever that never lose money, and are always on the right side of very move, always at their machines when a squeeze starts and are in at the bottom of a move higher and out on every top tick – do not despair; they either wear depends, or they are not human; they are bullsh*****s\r\n\r\nIt’s all bulls**t…. there is a lot of bulls**t in Forex. It’s a part of Forex that you have to live with and ignore a lot of it.\r\n\r\nI take losses and I tell you about them in this blog and on twitter. I do the best that I can with the PREMIUM SERVICE to limit losses. I am in Forex for the long-haul and that means that from time to time your account does suffer but it does come back if you stick to your principles.\r\n\r\nMy own trading accounts are out of the money this year so far, mostly due to my FXCM (GBP/CHF) trade. However, not all my losses came from the SNB day, some are from the PREMIUM SERVICE trades where I took larger than single lot trades in my personal account and they failed to make a profit. This creates an imbalance between $$$ and pips profits or losses. This is due to the fact that the size of the trade can influence the $$$, so a small loss on a big position can outweigh a big pip profit move with a small position.\r\n\r\nTo illustrate this – if you have a profitable trade with one mini lot that makes 50 pips it could yield $50, however if you have a 5 mini lot trade that loses 20 pips that could yield a loss of $100 thus outweighing the bigger pip profit of the smaller position. Yet, the single lot PREMIUM SERVICE trading accounts when added together with the trades analyzed through my twitter / email set-ups and my excel spread sheets are <span style=\"text-decoration: underline;\">still in the black - in profit</span>.\r\n\r\nI have subscribers who only trade single lot trades, and make money. The PREMIUM SERVICE worked last year in 2014 and it STILL works this year, as a trader you just have to be more realistic setting goals and objectives.\r\n\r\nThe markets are insatiable when it comes to FEAR and GREED. It is only when FEAR and GREED enter, that the picture changes, greed may make us trade larger position sizes for some currencies that we feel more confident with, or see $$$ in our eyes. Or perhaps we adjust trade sizes to cope with more volatile pairs.\r\n\r\ne.g. If you trade with 5 x MINI lots the EUR/USD. , you should not trade 5 x MINI lots with the GBP/NZD. You may trade just 1 x MINI LOT because of volatility and RISK MANAGEMENT issues associated with this pair.\r\n\r\nWhen different position sizes are used across all the trade set-ups that are presented the mix of position sizes in relation to the profit / loss ratio creates an inconsistent return when correlated to the PREMIUM SERVICE returns.\r\n\r\nConsistency is important, and to establish consistency it may be better to trade a consistent lot size in all trades except for commodity crosses, which are more volatile and involve a higher risk. Therefore this all depends on the size of your broker account and your risk tolerances.\r\n\r\nThis is just food for thought; not just for you as a reader but also for me as the instigator of the PREMIUM SERVICE trade set-ups. Sometimes when something is right in front of your face you still cannot see it.\r\n\r\nLike most of you; <span style=\"text-decoration: underline;\">I am a trader I have skin in the market</span>.\r\n\r\nIf you would like more information on this subject, maybe a chat on SKYPE or an email about this, contact me using the details at the end of this blog.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>ANGELA MERKEL WAS OVERHEARD SAYING\r\n</strong><strong>“MARIO, PASS ME THAT BOTTLE OF OUZO and JEROEN STOP PIGGING ON THE TZATZIKI”</strong></p>\r\nYes, you guessed it – Mr. Casual aka Alexis Tsipras the GREECE Prime Minister was back in Brussels having “off-site” emergency talks with the EUROGROUP regarding the GREEK bailout.\r\n\r\nThis long running saga is really like a west-end farce, in fact it’s now so long running I think that it challenges Agatha Christies “THE MOUSETRAP” that had a phenomenal continuous run in the London theatre. I cannot remember how many weeks it ran for but the GREEK story, God love them, is starting to wear me down. Is it any wonder that Mario Draghi is consuming Raki, Ouzo and Retsina faster than Jeroen Dijsselbloem can say his own surname!\r\n\r\nEnough is enough.\r\n\r\nI firmly believe that the only reason that the EUROGROUP is entertaining “no tie” is because they want to ensure an orderly GREXIT from the single currency. A disorderly GREXIT would place a massive stress on the ECB and the Bundesbank.\r\n\r\nIn an interesting twist however, on Friday the EU Commission President, Jean-Claude Junker released €2 billion on humanitarian grounds to help the Greek government deal with the crisis in the country that is affecting the poor and the hardest hit by the financial crisis.\r\n\r\nWouldn’t you just think…\r\n\r\nAusterity did NOT work; it is STILL NOT WORKING and refinancing the Greek debt is just avoiding a default. No matter what is done, the EUROGROUP policy on GREECE, with or without the IMF (International Monetary Fund) hooked into the deal along with the ECB to form the TRIOKA to make it look like a wider base of support and aid was going to fail before it even started.\r\n\r\nThe Germans are at fault in my opinion. Schauble is a loose cannon that fires up high emotions. Culturally, the Germans and the Greek peoples are worlds apart.\r\n\r\nThe bartering process that “no tie” is in at the moment is a normal Mediterranean way of negotiation, and, whether you believe he has no bargaining chips at all it is totally irrelevant. To Northern Europeans, like Merkel, Hollande, Diijsselbloem and Donald Tusk from Poland who chairs the EUROGROUP summits who quite frankly cannot understand why “no tie” will not move his position, it causes them to become exasperated and dig in their heels. They believe and maybe quite rightly in their eyes that enough is enough and its our way or the highway. This is pure and simple cultural divergence.\r\n\r\nTsipras (no tie), knows that the EUROZONE banks, many of them German and French have lots of €€€€€€ hanging around the GREECE financial sector. This is the backdrop and sword of Damocles hanging over the negotiations. “No tie” fully knows the fragile economy that exists across the EUROZONE would be thrown into turmoil if a disorderly GREXIT were to happen. In the background there is the fear of the Greek government running out of money, but would it actually happen?\r\n\r\nThink outside the box. Both RUSSIA and CHINA would love to get a foothold in the area for many reasons, not just political. Humanitarian grounds would be the sales pitch should either of these nations offer emergency financing.\r\n\r\nGREECE needs debt relief.\r\n\r\nThe EUROGROUP needs to suck it up and provide a “Cash Back” deal to Portugal, Ireland, Cyprus etc. in fact, any country that has effectively had a bailout of one sort or another from the EUROGROUP since the 2008-9 crash.\r\n\r\nIt is so straightforward – if they do nothing they risk another financial crash, another run on the banks, negative growth DEFLATION….. this list can go on for pages.\r\n\r\nSuck it up….\r\n\r\nFor once; do not kick yet another can down the road.\r\n\r\nWhatever words are written on a GREEK BLUEPRINT for economic reforms moving forward may as well be on paper supplied by Tom Cruise’s bosses in Mission Impossible, it will self destruct 30 minutes after signature and the monies are transferred. If the GREEKS could not reform before, gather taxes before, or manage the books before on the previous two bailouts why is it going to work this time. They are more in debt now than when they first came to the table looking for help years ago. It is so sad for GREECE that they were sold a lemon.\r\n\r\nAusterity was NOT the way. It has NOT worked, and for Germany to continue down this road with the same old same old is complete and utter bollo**s. There are 19 countries using the single currency, 19 vastly different cultures that approach all aspects of life and business from a different perspective. One size does NOT fit all.\r\n\r\nThese are high stakes. It has taken Mario Draghi at the ECB years to create some stability. This is the ultimate risk. The credibility of the German approach, I would say stubborn approach. They appear totally intransigent to an alternative.\r\n\r\nI am not saying that the U.S. approach was brilliant, quite frankly it made fat cats fatter and moved Wall Street poles apart from Main Street. The poor are poorer and the rich are richer as result of the FED approach in the USA. Poverty is simply swept under the carpet. However, the Ben Bernanke approach was so supportive to the financial markets (ex. Lehman Brothers) that stability and credibility were restored in very good time. Granted, it is still a fragile economy and the economic data shows this. If everything in the garden was “peachy”, interest rates in the U.S. would be at 0.5% by now… they are not.\r\n\r\nBy comparison, and it is hard to compare, as many American commentators some who have been around for years, such as Joe Kernan on CNBC, simply do not understand that the EUROZONE area consists of 28 countries, 19 of these use the € (single currency) plus there are a number of principalities that have monetary agreements like Andorra and Monaco.\r\n\r\nThe USA despite its dysfunctionality is one country. The EUROZONE is not. It is like comparing apples and pears.\r\n\r\nThe FED has an easier job than the ECB - these are basic facts, clear and unambiguous and should be noted when a glib comment is made on U.S. TV by some commentator, pundit or analyst who probably couldn’t even tell you where GREECE is on a map.\r\n\r\nI digress….\r\n\r\nThe stakes are incredibly high and reputations are on the line in Brussels. My fear is that the “can” is being prepared as I type.\r\n\r\nI fear that if a fudged solution is found we will definitely be back at point zero again within a year, with the same issues, same problems, maybe different players around the table.\r\n\r\nFor once… can the EUROGROUP just suck it up and move on doing what is right for the GREEK people not the damn politicians. If business people were managing this from day one we would not be in this mess now.\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>&nbsp;</li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: left;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong>\r\n<strong>(Please note that from April 1<sup>st</sup> 2015, subscription costs are changing and options expanding in line with market conditions and competition)</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – UPDATE ON CHANGES DUE BY APRIL 2015</span>\r\n\r\nChanges are now at stage two, and I am still confident that the vast majority will be ready for April 1<sup>st</sup>, the rest will be drip-fed throughout the second quarter of 2015.\r\n\r\nThe review as I have mentioned before has become far more reaching than I had originally anticipated.\r\n\r\nThe visible web site changes, the communication alternatives, the revised pricing and options on pricing, are relatively quick and easy to implement. It is the backroom making it happen items that you cannot see that are costly that takes the time.\r\n\r\nThe major change that can’t be seen and, probably one of the crucial ones is the space issue. This will NOT make the deadline I imposed. It is NOT a front-end change that would be noticed anyhow and involves my hosting packages and the re-directs that I have. This is so far above my pay grade, and as it does NOT directly effect what I do from day to day, I am not unduly concerned. However, some of the technology enhancements are dependent on the space issue being solved first before other backroom changes can be made (The chicken and the egg).\r\n\r\nFor existing PREMIUM SERVICE subscribers there will be a questionnaire released within the next 48 hours to canvas opinions and maybe add in a few more enhancements.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “THE TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4.2)\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-22032015.png\"><img class=\"aligncenter size-full wp-image-5517\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-22032015.png\" alt=\"PROFIT-LOSS RATIO 22032015\" width=\"414\" height=\"582\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-22032015.png\"><img class=\"aligncenter size-full wp-image-5518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-22032015.png\" alt=\"RISK-REWARD 22032015\" width=\"432\" height=\"547\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-22032015.png\"><img class=\"aligncenter size-full wp-image-5515\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-22032015.png\" alt=\"PREM SERV PROFITS1 22032015\" width=\"454\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-22032015.png\"><img class=\"aligncenter size-full wp-image-5516\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-22032015.png\" alt=\"PREM SERV PROFITS2 22032015\" width=\"461\" height=\"422\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">4. PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong>\r\n\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<p style=\"text-align: center;\"><strong>PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT:</strong></p>\r\n&nbsp;\r\n\r\n<strong>Let me introduce Jack:</strong><strong> </strong>\r\n\r\nJack is a professional trader. He makes all his money trading THE FOREX market. He has been trading for five years. He is patient, disciplined and in his trading he is fearless.\r\n\r\n<strong>Let me introduce Peter:</strong>\r\n\r\nPeter is a Newbie. He barely manages to break even with his trading. He has been trading for six months. Peter takes unnecessary risks as he is undisciplined, and he panics when he takes a trade.\r\n\r\n&nbsp;\r\n\r\nMoving on from the pleasantries….\r\n\r\nLet’s imagine we have a super profitable system. On paper, traded mechanically, this system has an average of seven wins from ten trades. Now let’s imagine we give both Jack and Peter this method and they trade it.\r\n\r\nWhat do you think will happen?\r\n\r\n<strong>Jack</strong> will take the system, take the trades and make lots of pips. In fact Jack, will probably improve the efficiency of the system and bump it up to eight winners out of ten.\r\n\r\n<strong>Peter</strong> will take the system; take the trades and pretty much screw it all up. As I said, trading it mechanically will give Peter an average of seven out of ten winners. However Peter will be lucky to get five out of ten winners.\r\n\r\nWhy does it work this way?\r\n\r\nIt all comes down to two things - psychology and experience.\r\n\r\nThere isn’t much you can do about experience. So lets take a look at some of the dangerous psychological pitfalls. Hopefully after reading this, you will be able to see them coming and stop them, before they destroy your account.<strong> </strong>\r\n\r\n<strong>FOUR PSYCHOLOGICAL PITFALLS:</strong>\r\n<ol>\r\n	<li><strong> THE DESIRE TO BE RICH:</strong></li>\r\n</ol>\r\nThe desire to be rich manifests itself in many ways. The main ways are fear and greed and hey inevitably lead to other problems. If you think about it the majority of the issues newbies have stem from the desire to be rich. Things such as\r\n<ul>\r\n	<li>Overtrading</li>\r\n	<li>Poor Money Management by risking too much</li>\r\n</ul>\r\nFOREX will not make you rich in the short term. It will likely take years before you are trading well enough to leave your day job. FOREX is a career in the long run, if you are successful, it can give you a very relaxed life. However, if you started trading last week and you plan to quit your job in six months, because you anticipate being rich enough to by a Ferrari, you are delusional.\r\n\r\nThis is a career, not a get rich quick scheme. If you want to be rich quick hit the casinos. You have a better chance of winning there.\r\n<ol start=\"2\">\r\n	<li><strong> FEAR OF LOSING:</strong></li>\r\n</ol>\r\nFrom a young age we are taught that money is important and that without money you have no real value. We are conditioned to believing that to be successful when we grow up, that we must have lots of money. This is because the reverse is also true. If you lost money then you are a failure as it is the opposite of making money. This in turn leads to some newbie traders being afraid to pull the trigger and actually take a trade.\r\n\r\nSome newbies trade demo accounts for two years, never summoning the courage to open a live account. Some newbie traders with live accounts panic whenever they enter a trade and in turn make rash decisions.\r\n\r\nTake a look at people like Richard Branson, Donald Trump, Alan Sugar and Warren Buffet. These guys are billionaires (or close enough to it) and each of them has failed many times. Richard Branson has spearheaded many failed ventures. Did those failures set him back though? Hell No! The man is going to start flying people to space at $200k per head, next year with Virgin Galactic.\r\n\r\nI think losing some money to the markets is actually beneficial. It teaches you some very important lessons. What is damaging is the fear of losing money. The fact that you think about it puts you at much greater risk of it actually happening. You have to trade with a positive attitude. So get rid of those fears and worries, they will not do you any good.\r\n\r\nThe truth is you are going to lose money to the markets, its unavoidable. Every professional trader has lost money. Not every trade will be profitable. The market simply doesn’t always work in your favor, and there are times especially as a newbie, that you will be stung. If you end up blowing your first live account … so be it. As long as you pick yourself up and try again, you will be a better trader for it.\r\n<ol start=\"3\">\r\n	<li><strong> THE NEED TO BE RIGHT:</strong></li>\r\n</ol>\r\nThis is a good one. Peter opens his platform and enters a dumb, baseless, long trade. He targets 100 pips and has a 50-pip stop loss. The trade goes against him immediately.\r\n\r\nIt goes down, first ten pips, then twenty pips, and then thirty pips. When it reaches forty pips Peter decides he doesn’t want to lose another trade and moves his stop loss down.\r\n\r\nThe price keeps falling:\r\n\r\n100\r\n\r\n120\r\n\r\n150…\r\n\r\nEventually Peter closes out his trade and he has lost a huge portion of his account.\r\n\r\nPeter was not able to accept that he has taken a losing trade. He kept pushing the stop down in the hope that it would eventually turn around. The need to be right is an account killer.\r\n\r\nThere are times when I move my stops, but these are line with my RISK MANAGEMENT targets and ATR’s for stop losses. In addition, sometimes during a “SQUEEZE” they are moved to accommodate the increased level of volatility.\r\n\r\nThis is the aspect of Forex Trading that is my own personal Achilles heel.\r\n<ol start=\"4\">\r\n	<li><strong> BEING UNDISCIPLINED:</strong></li>\r\n</ol>\r\nI saved this one for last because, even though it is one of the most common and dangerous pitfalls, it is rarely discussed. A trader who lacks discipline can never make it in this business. Many traders are guilty of lacking discipline for many reasons.\r\n\r\nThe main culprits are what I like to call “System Jumpers”. These are the traders that are constantly tweaking and changing their trading methods. These traders do not realize that learning to trade a system efficiently takes time.\r\n\r\nSystem Jumpers are traders who lack discipline to stick to, and learn how to trade a system. They try it for a week and when it doesn’t work they jump to the next system or method\r\n\r\nAnother common action of an undisciplined trader is abandoning a perfectly good trading method. Every trading method has period in which it performs below average. No matter how versatile a method is, it cannot perform at peak efficiency in all market conditions. A true trader has the discipline to stick it out through hard times.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2. THE PREMIUM SERVICE – LAST WEEK’S TRADING REVIEW:</span>\r\n\r\nLast week as I wrote earlier was probably the most difficult / craziest week in Forex Trading that I have ever seen, never mind traded. I write this in the full knowledge of trading through the financial crash of 2008-2009. Trading at that time was not difficult it was a pure flight to safety trade. Last week was just, plain crazy.\r\n\r\nI know that I often write that the market is what it is - just suck it up.\r\n\r\nThe response on Wednesday to the FOMC was exaggerated to say the least, and then the retracement on Thursday was bizarre. But the squeeze on Friday back towards the post FOMC highs/lows basically a 61.8% retracement was just totally unexpected and took me completely off guard. I sat there just moving stops initially to the next levels down or up. Thank God I have these on my trade sheets. Then I was looking at Fibonacci’s in disbelief as LIMIT ORDER trades started to trigger. Next, to keep within RISK MANAGEMENT tolerances I was reducing position sizes. I posted lots of small losses which when added up was quite a number.\r\n\r\nFUNDAMENTALLY, I believe that I am in the right trades at great levels moving forward, but I will need to add back to get the profit levels that I want.\r\n\r\nThe PREMIUM SERVICE went backwards by about 34 pips when summarizing the weeks trading. It was about to post a healthy increase until Friday when around the squeeze over 220 losing pips were deducted.\r\n\r\nThe USD/CHF provided some nice profits earlier in the week and several other USD majors contributed to the pip profits until Friday. I thought that it was going to be an excellent week as trading at the beginning of the week was practically non existent as I was waiting for the FOMC release.\r\n\r\nAs you will know, there are now some 13 x LIVE trades going into this week with a further 2 x LIMIT ORDERS waiting in the wings.\r\n\r\nI am finding it hard, and I know from speaking with many of you that getting a consistency moving forward this year has been the challenge. I hear you 100%. I think that from now until the end of April I will just trade a consistent smaller position size with a slightly wider stop in my personal account to match the PREMIUM SERVICE accounts.\r\n\r\nIt is all about consistency. My PREMIUM SERVICE general trading account keeps ticking over. As I stated earlier in the blog, it is only when more than a single lot is risked and the trade concerned turns out to be a losing trade that you have to play catch-up. The principle of single-lot profitable trading works; it’s all about having the right sized account for a MICRO, MINI or STANDARD LOT approach to gain the success.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-22032015.png\"><img class=\"aligncenter size-full wp-image-5521\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-22032015.png\" alt=\"PS LIVE TRADES 22032015\" width=\"730\" height=\"503\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-22032015.png\"><img class=\"aligncenter size-full wp-image-5520\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIMIT-ORDERS-22032015.png\" alt=\"PS LIMIT ORDERS 22032015\" width=\"709\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nThis section contains charts relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\nGBP/NZD (weekly):\r\n\r\nThis pair was dropping with GBP weakness at the start of the week. At the end of the weak it was being sold with NZD strength - the classic double whammy.\r\n\r\nI am looking at support a little below existing levels around the trend line support on the chart below at 1.9350.\r\n\r\nEstablishing a long here with a stop below 1.9000 would seem to be a level that may provide support. A lot depends on the NZD/USD though. If it breaks through 0.7520 we may go lower before establishing a base level from which to work from.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDMonthly22032015.png\"><img class=\"aligncenter size-full wp-image-5523\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPNZDMonthly22032015.png\" alt=\"GBPNZDMonthly22032015\" width=\"800\" height=\"600\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-22032015.png\"><img class=\"aligncenter size-full wp-image-5519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-22032015.png\" alt=\"TRENDING PAIRS 22032015\" width=\"384\" height=\"512\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription. it also now includes chart analysis based on the weekly candlestick charts.)\r\n\r\n<strong>PLEASE NOTE:\r\n</strong>\r\n\r\n<strong>With many of the USD majors we are close to or have had weekly bullish or bearish engulfing candles. These would usually signify a change in the direction of the engulfing candle. However, sometimes when it is as a result of major events this is not always the case. The wicked moves of Wednesday last week after the FOMC and Fridays massive USD sell-off may temper matters.</strong><strong> </strong>\r\n\r\n<strong>The open later today takes on a new importance for me. I may just close trades depending upon the open, or moves stops into non-moveable static positions.</strong>\r\n\r\n<strong>With your own trades, you trade your own way. I am just alerting you. Longer-term weekly candles are powerful, but after the swings in the market that we have witnessed, and the extremes of volatility that we have seen, I have noticed in the past that sometimes a one-off candle has been ignored. This could be the case now… FUNDAMENTALLY some pairs are what I call upside-down based upon the weekly candle.</strong>\r\n\r\n<strong>It is impossible to tell what will happen at the open, and as you know I hate Sunday night (EDT) Asian market opens.</strong>\r\n\r\n<strong>It is difficult and for you and me…we have no way of telling what way things will happen.</strong>\r\n\r\n<strong>I am a trader, I also like you have skin in the markets.</strong><strong> </strong>\r\n\r\n<strong>I will tweet what I think.</strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0821.</strong>\r\n\r\nIf someone had told me this time last week that we would see a 300 pip move higher in the EUR/USD week on week, I would have said are you nuts or what? I am looking at the chart below saying to myself reversal pattern…. but to what level? 1.1050 the post FOMC spike?\r\n\r\nI have a LIMIT ORDER to sell at 1.0970 – do I adjust this.\r\n\r\nI am not that sure with all the EUROZONE news about to hit regarding GREECE and the EUROGROUP meetings that we could hit above 1.1000.\r\n\r\nMy thoughts are resistance at 1.0860 and support back at 1.0740. A break back through 1.0760 places the bears back in control in my opinion.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5529\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-WEEKLY-22032015-1024x517.png\" alt=\"EURUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.4957</strong>.\r\n\r\nWell to me its obvious that 1.5000 will be a big number to break through. The PREMIUM SERVICE is short from 1.4920 and my FUNDAMENTAL view is to try and hold onto this trade no matter what as I firmly believe we are going a lot lower through uncertainty about the UK elections in 5 weeks time.\r\n\r\nLet’s hope over the weekend there are some nice UK tabloid press comments about the EU and Cameron versus UKIP. That would be a nice gift. It might make the GBP/USD GAP LOWER at the open.\r\n\r\nSupport is at 1.4900 and resistance at 1.5000.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5528\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-WEEKLY-22032015-1024x517.png\" alt=\"GBPUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>AUD/USD: Closing Price 0.7771</strong>.\r\n\r\nThis could be a big week for the AUD and NZD looking at both weekly charts. I do however have a reservation. Central Bank divergence could bite me on the bum if I go fully into reversal mode with these pairs.\r\n\r\nWe are almost up against a down sloping trend line that has kept this pair in check for weeks. A break through 0.7800 and maybe we are on a trend reversal. There is no major AUD news to peg this pair back unless the RBA speaks out unannounced. I think we are so close to their target area for this pair that they would not want to see it drift higher through 0.8000 once again. This will be interesting to watch.\r\n\r\nSupport is at 0.7750 and resistance at 0.7800.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5530\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-WEEKLY-22032015-1024x517.png\" alt=\"AUDUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7556</strong>.\r\n\r\nWe are so close to 0.7620. This has been a key resistance level for this pair for weeks and weeks. If we were to break this level I fear a much larger move higher maybe on the cards. Unlike the RBA, the RBNZ through Wheeler have been playing a dangerous game by not being 100% strong on their policy, they have swung both ways, so to speak. On their side they have directly intervened in the FX markets before and they may have to do it again. Nobody really believes their jawboning anymore and their tricks of re-releasing old documents.\r\n\r\nSupport is at 0.7510 and resistance at 0.7620.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5527\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-WEEKLY-22032015-1024x517.png\" alt=\"NZDUSD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2561.</strong>\r\n\r\nI am so annoyed with myself as I had the chance to exit a USD/CAD long trade on Thursday with nice profits. I held on to let the profitable trade run… well the rest is history as they say. Now I have a bearish engulfing candlestick in front of me.\r\n\r\nIf Crude Oil comes under pressure this will support the move higher, plus the economic data (Retail Sales) on Friday was weak and quite frankly the CAD should not have strengthened so far on this weak data. I know about the candle but we should see a spring back.\r\n\r\nSupport is really good at 1.2450 and resistance back at 1.2650.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5526\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-WEEKLY-22032015-1024x517.png\" alt=\"USDCAD WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9744</strong>.\r\n\r\nThis pair fell really hard as the EUR/USD rose. The CHF has it’s own motivation at the moment economically via the negative interest rate policy of the SNB and I expect this pair to motor back towards parity this week. We have a daily engulfing candle and maybe we will hover for a while, but I think that there are upward pressures to play out here\r\n\r\nSupport is at 0.9680 and resistance at 0.9850.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5525\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCHF-WEEKLY-22032015-1024x517.png\" alt=\"USDCHF WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 120.04. </strong>\r\n\r\nWe are still in the same range in spite of all the shenanigans last week.\r\n\r\nSupport at 115.60 and resistance at 122.00\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-22032015.png\"><img class=\"aligncenter size-large wp-image-5524\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDJPY-WEEKLY-22032015-1024x517.png\" alt=\"USDJPY WEEKLY 22032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – ECB Mario Draghi Speaks.\r\nMONDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTUESDAY: EUR – French &amp; German Flash Manufacturing PMI.\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: USD – CPi.\r\nTUESDAY: NZD – Trade Balance.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: CAD – BOC Poloz speaks.\r\n\r\nFRIDAY: USD – GDP.\r\nFRIDAY: USD – FED Janet Yellen speaks.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIf like myself you found last week a difficult week, you can do either one of three things: -\r\n<ol>\r\n	<li>Take a few days off away from your computer screens.</li>\r\n	<li>Get back into trading revitalized after a weekend of reading through the news items that have hit the press with your MACRO / FUNDAMENTAL VIEWS in position ready to attack.</li>\r\n	<li>Gently ease your way back into the markets managing your LIVE /OPEN trades carefully and assess the Asia and European markets responses on Monday morning to the USD sell off on Friday.</li>\r\n</ol>\r\nThere are not as many news events that are market moving this coming week but GREECE is the word….\r\n\r\nThe two boys without ties will be strutting around Brussels looking for the impossible. It is a dangerous game that they are playing and it will no doubt all end in tears, but before that we should get some great sound-bytes from Schauble, Juncker, Dijsselbloem, Weidmann or Nowotny to spice up the week. Getting these does of course create the odd spike in the EUR/USD so be on guard as best you can. Keep stops tighter without being too tight but maybe trade the EUR/USD with a smaller position size to accommodate the potential volatility.\r\n\r\nThere are lots of awkward looking candles on the charts that we will need to review into the early Asian trading later today. So we have a lot to look at early on and establish a clear plan.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 22nd 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','ANGELA MERKEL WAS OVERHEARD SAYING “MARIO PASS ME THAT BOTTLE OF OUZO and JEROEN STOP PIGGING ON THE TZATZIKI”','','inherit','open','closed','','5543-revision-v1','','','2015-03-21 15:18:10','2015-03-21 20:18:10','',5543,'https://weeklyfxdrivethru.com/5543-revision-v1/',0,'revision','',0),