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<strong><span style="font-size: 18pt;">THE DAILY FX POST</span>
<span style="font-size: 18pt;"> from</span>
<span style="font-size: 18pt;"> THE PREMIUM SERVICE</span></strong>

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<strong>DATE: Thursday 11th September 2014
REF: #86</strong>

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<ol>
	<li><strong> OVERVIEW – INITIAL THOUGHTS:</strong></li>
</ol>
Blowout numbers last night from the Australian Employment numbers and I was tempted to go long but held back…thank goodness for that.

We were entertaining last night (2130 EDT) so I glanced at my iPad for the news did not see a massive reaction I thought that there must have been something in a statement or whatever accompanying the data so I walked away. It is quite staggering to me the drop in the commodity currencies over the past two or three days and the fact that the AUD fell on great numbers indicates the pressure which is weighing in on the commodity currencies from the weakness in precious metals (Gold, Silver and Copper) plus Iron Ore.

I am really pist off that I missed this AUD and NZD sell off, although ultimately the NZD sell off is helping my AUD/NZD and GBP/NZD longs. There are no pullbacks of sorts and last night shorting the AUD/USD at 0.9200 and the NZD/USD at 0.8200 were the two trades to take. I just could not get 10 minutes to study to set entries and I was trying to be a sensible given the geopolitical background right now.

On the positive side…. I have lost no money. But I did enter the NZD/USD short (FT172) a few minutes ago at 0.8180 I got a 15pip pullback. I will add to my position if it breaks a little higher.

The GBP looks to be pulling back based upon the latest poll on the Scottish referendum, were the NO vote was c.5% up on the YES votes. The actual vote is on September 18<sup>th</sup>, up until this date I expect increasing volatility, and, quite frankly the closer we get the more I am inclined to stay away. It looks like buyers who stepped in to the GBP/USD ahead of 1.6000 are aiming for a move to fill the GAP from last weekend at 1.6312. I am still not convinced this is area to enter short…thinking about it, but not convinced.

The EUR/USD can not get a bounce there are just so many sellers in the EUR/USD, if you entered long you must be thinking WTF at the moment. Should this pair break higher I think that 1.3000 to get short would be a great area.

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<strong> </strong>
<ol start="2">
	<li><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></li>
</ol>
USD: - Unemployment Claims.

<strong> </strong><strong> </strong>
<ol start="3">
	<li><strong> EXISTING LIVE TRADES:</strong></li>
</ol>
FT172
NZD/USD
Short
Entry at: 0.8180
Stop at: 0.8030
Limit at: 0.7800
Present Price: 0.8181
Current Profit / Loss Position: -1 pip

RT143
AUD/NZD
Long
Long at 1.1200
Stop at 1.1020
Limit at 1.1550
Present Price: 1.1133
Current Profit / Loss Position: -67 pips

RT149
USD/CHF
Long
Long at 0.9335
Stop at 0.9250
Limit at 0.9580
Present Price: 0.9357
Current Profit / Loss Position: +22 pips

RT152
USD/CAD
Long
Long at 1.0950
Stop at 1.0870
Limit at 1.1200
Present Price: 1.1017
Current Profit / Loss Position: +67 pips

FUN14
GBP/NZD
Long
Entry at: 1.9800
Stop at: 1.9000
Limit at: 2.2350
Present Price: 1.863
Current Profit / Loss Position: +63 pips

<strong> </strong><strong> </strong>
<ol start="4">
	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>
</ol>
RT146
AUD/USD
Short at 0.9330)
Stop at 0.9400
Limit at 0.9210

RT147
NZD/USD
Short at 0.8300
Stop at 0.8350
Limit at 0.8000

RT151
USD/JPY
Long at 105.95
Stop at 105.50
Limit at 110.00

RT153
USD/NOK *
Long
Long at 6.3090
Stop at 6.2650
Limit at 6.3525

RT154
USD/SEK *
Long
Long at 7.0700
Stop at 7.0200
Limit at 7.1300

RT155
USD/MXN *
Long
Long at 13.1550
Stop at 13.1300
Limit at 13.2140

* These trades I will amend limit targets if they enter. At the moment they are at 1:1 risk/reward. I had a problem with my Fib symbol it was not performing properly…technology!!

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<ol start="5">
	<li><strong> FINAL THOUGHTS:</strong></li>
</ol>
Be careful as usual geopolitical events will move the currency market violently today if FEAR hits the markets.

Commodity currencies are heavy and could be the best trades today if they continue to sell off.

Keep your eyes on the US$ Index (DXY) it is getting very close to a multi year breakout. This would have a sweeping effect across the Forex market.
<ol start="6">
	<li><strong> DISCLAIMER:</strong></li>
</ol>
Trading Forex carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if necessary.

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

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