(3963,1,'2014-06-28 05:53:49','2014-06-28 10:53:49','<strong>1. INTRODUCTION:</strong>\r\n\r\nWorld Cup fever has been slowing already slow Forex markets, and, I think we are now entering the summer doldrums. Our trading ranges are being well-defined, the extremes created by false breakouts or false breakdowns are getting very familiar. So face the facts, we need to get our summer trading brains into position. For PREMIUM SERVICE subscribers, in the TRADER TOPIC section this week I have written an article called “Tips in adjusting to the Forex market when there is low volatility”, and when combined with last weeks article “Are you forcing trades?”, these two articles will give you my thoughts to add to your own on dealing with and managing summer trading.\r\n\r\nOver the past week, we saw Carney backtrack and fumble his way rather unconvincingly through his session in front of the UK Parliamentary Select Committee that he reports to. Not as much a HAWK when somebody asks him a question and places him on the spot was he?\r\n\r\nWe had “Jim (I want to make a name for myself on TV) Bullard” the St Louis FED president, come out across the media on Thursday and state that he sees interest rates rises in the U.S. Q1 2015 for definite… This had the desired effect on the markets, nice bit of volatility, which I missed through connectivity issues. Thankfully we have stops to protect us in such unforeseen events, should they occur. As usual, what was taken away was given back, within 24 hours.\r\n\r\nThe big news for me was the poor U.S. GDP data. On the third reading (Holy Mother of God…three readings), it was revised further on the negative side from -1.0% to -2.9%.\r\n\r\nDid it affect equities? Not as much as I thought it would. As you know for the children on Wall Street, “Good news is good news and bad news in good news”. However, the effects of this revision created a stir with regards to all market makers revising their own calculations. Being my usual cynical self, all they do is just amended the actual and amended their targets for 2014 so that their numbers balance.\r\n\r\nWall Street is a numbers game supported by the FED. When you look at the indices charts we are looking at very exhausted formations. I read last week that the biggest buyers of stock on Wall Street at the moment are companies buying back their own stock to improve their EPS. Top line sales are just not there because spending is not happening and with fuel and food prices on the up and up, wages on the down and down (in real terms) who is spending?\r\n\r\nCompanies are not hiring, there is no real demand therefore to “dress up” performance and balance sheets so they are using cash reserves to buy stock to show an improving EPS. Next are redundancies to keep the balance sheets looking good? All is not good economically in the U.S. despite what you hear.\r\n\r\nThe largest spender in the world needs disposable income to spend…increasing food and fuel prices are stealth (hidden) taxes that hit almost everyone immediately rich or poor.\r\n\r\nThere are interesting times ahead, given the change in FED monetary policy, never mind issues with the BOJ and BOE, and then the ECB is a whole other matter.\r\n\r\nThe PREMIUM SERVICE has 13 open and live trades in play at the moment, with no limit orders in the background. Many more than I thought that there would be, most of them are in real terms longer FUNDAMENTAL style trades.\r\n\r\nI am watching a lot of RED on my screens, as most of my trades are negative. They are mostly very small positions but they are negative all the same. I took these trades on the basis knowing that they could reverse but my positions are small and I am well within my RISK MANAGEMENT parameters within my TRADING PLAN. If I add to my existing positions, which, I knew that I might have to do, they will be profitable very quickly on a momentum move. I can also half trades to reduce risk. I have several options but I am not at this stage concerned. My FUNDAMENTAL views have me in these trades the way that they are.\r\n\r\nThe PREMIUM SERVICE is still adding $$$ each month. I am very, very happy about this and at the end of this month I will be sending out a half-year summary about the performance over the social networks.\r\n\r\nHere’s an incentive - if you open an account with one of my approved brokers I can obtain a trading bonus for you and depending upon the size of your initial deposit the bonus could pay for a 12 months subscription to the PREMIUM SERVICE and give you cash back. Based on the performance so far, with just 50% of the year gone, you would see a handsome profit. That It is a convincing argument.\r\n\r\nWhy not open a separate account with me and try it?\r\n\r\nFinally, with regards to the PREMIUM SERVICE the 4-week trial special offer has ended. This really placed so much more administration time into my day it took sales time away. I doubt I will re-introduce it so 10 weeks will be the minimum option at $150.00. All details on the PREMIUM SERVICE can be found on the welcome page of the WEEKLY FX DRIVE THRU at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> at the top of the page.\r\n\r\nIf any of you have questions about the PREMIUM SERVICE please contact me at drivethru@weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n\r\n<strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JUNE 2014 and YEAR to date:</strong>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\"><img class=\"aligncenter size-full wp-image-3964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\" alt=\"PREM SERV PROFITS 1 28062014\" width=\"445\" height=\"423\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\"><img class=\"aligncenter size-full wp-image-3965\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\" alt=\"PREM SERV PROFITS2 28062014\" width=\"456\" height=\"416\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>THE FED &amp; BOE versus BOJ, SNB and ECB</strong></span></p>\r\nFollowing on from my article regarding the celebrity status of the Central bank governors around the world, I give you part II.\r\n\r\nFor all those people who defended Mario Draghi with emails, tweets and LinkedIn comments to me over the past 7 days…let me re-iterate my view, which, has NOT changed. He is a puppet from Berlin and quite frankly his performance at best in mediocre, the ECB has failed the people of the Eurozone in dramatic style. To say that he is independent of political influence is total bulls**t and 100% total crap. The Eurozone epitomizes dithering, indecision and inept management. These views I just cannot see changing. How people can defend a central bank that sets out forward guidance and then constantly revise data and move the goal posts to meet these forward guidance objectives, is best at any stretch of the imagination…poor.\r\n\r\nMoving on from the pleasantries….\r\n\r\n(Later in this article, I am going to give a TRADING TIP (SET-UP) to all readers whether PREMIUM SERVICE or FREE NEWSLETTER SUBSCRIBERS).\r\n\r\nWe now enter a very interesting period in Forex trading. The Currency manipulators are changing sentiment.\r\n\r\nCentral banks that were basically aligned in 2008-2009 are now going their own ways after dealing with the fallout of the financial crash in their own way. Monetary policy decisions are changing across the board and we have to take notice as this will effect out trades in the short and medium terms. Being a FUNDAMENTAL trader first then technical this is the sort of news I love. Irrespective of what type of trader you are this now going to affect all of us.\r\n\r\nAll we have heard of for years is “easing”, “accommodative”, “firmly anchored” and “for an extended period of time”. It’s changing.\r\n\r\nThe current major players in currency manipulation at the moment are: -\r\n\r\n<span style=\"text-decoration: underline;\">FED:</span>\r\n\r\nThe FED started the ball rolling with the word of 2013 “Tapering”. Each month the amount of support to markets provided by the FED has been reducing by $10 billion per month. It now stands at $45 billion per month down from original $85 billion.\r\n\r\n<span style=\"text-decoration: underline;\">BOE:</span>\r\n\r\nThe UK still has an Asset Purchasing Facility in place to purchase “Gilts” of £375 million.\r\n\r\n<span style=\"text-decoration: underline;\">BOJ:</span>\r\n\r\nLast year (April 2013) the BOJ committed to $1.4 trillion of quantitative easing through the Japanese economy inside two years.\r\n\r\n<span style=\"text-decoration: underline;\">ECB:</span>\r\n\r\nIt still has in place, I think, the OMT (Outright Monetary Transactions), it did not use this tool when it was announced.\r\nThe ECB introduced LTRO (Long Term Refinancing Operations), which I believe are now completed.\r\nEarlier this month it introduced negative deposit rates for banks wanting to deposit overnight funds. Full-blown Quantitative easing is apparently an option and not yet ruled out and there are more initiatives to come.\r\n\r\n<span style=\"text-decoration: underline;\">SNB:</span>\r\n\r\nIt has in place a floor limit on the EUR/CHF pair at 1.2000. Due to it’s proximity and ‘safe –haven” status. The SNB is an interesting party to the currency manipulation in play currently operated by the central banks. It is direct and openly known to all markets. There is 100% clarity in what is going on and where the limits lie.\r\n\r\nIn the past 14 days we have heard the following: -\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE GREEN CORNER</strong></span>\r\n\r\nMark Carney from the Bank Of England, in his annual Mansion House speech alerted the markets that they are underestimating economic matters as interest rates in the UK will be rising much faster than they think. This prompted GBP buying. Subsequently, he fumbled at the MPC session that he took questions at stating that rates would be very staggered over basically an extended period of time. Recent financial reviews that I have read are expecting the first rate hike Q4 2014 that is this year!\r\n\r\nJim Bullard, the St Louis FED president said a few days ago that interest rates would be rising in the U.S. Q1 2015. This sits nicely with what Ben Bernake stated just before he left the FED stating that tapering would run out 2014, leaving the door open for gradual rate increases.\r\n\r\nand\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE RED CORNER</strong></span>\r\n\r\nShinzo Abe, the Japanese Prime Minister talked about his 3<sup>rd</sup> arrow (stimulus talk). I would say he is sweating bullets at the moment because in spite of massive stimulus his attempts to revive the Japanese economy could be at risk of failure. Like the USA consumer spending is a problem. This is a key driver to a growing economy. The Nikkei is down this year by 6% after a 60% rise last year. The USD/JPY is up 3% this year when last year the JPY weakened against the USD by 21%.\r\nMore stimulus / more easing is on it’s way.\r\n\r\nThe ECB through Mario Draghi is easing. Whichever way you slice it, the ECB is on a policy of continued and increasing easing. Draghi almost re-iterated his 2012 call of “Whatever it takes”.\r\n\r\nThe SNB has said through governor Jordan that it will react to the ECB stimulus policies to protect the CHF currency.\r\n\r\n&nbsp;\r\n\r\nTherefore, we have two central banks moving away from accommodative policies and three continuing and probably adding to what it already has in place.\r\n\r\nFrom a traders perspective this should only lead to two words...”HAPPY DAYS”. We should also get momentum and direction across certain pairs.\r\n\r\nI mentioned at the beginning of this article I have a trade set-up to consider. It is the EUR/GBP short.\r\n\r\nThis pair is a compelling trade from my perspective. The Eurozone is easing and the UK is hiking rates, this monetary policy divergence places the EUR/GBP at real risk of a major downside move.\r\n\r\nThe chart below shows my downside objectives of 0.7800 and hopefully in the very long term 0.7400.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3959\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014-1024x464.png\" alt=\"EURGBP MONTHLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nThere are other pairs that jump out as well with this change in policy. These will be delivered only to subscribers of the PREMIUM SERVICE.\r\n\r\n&nbsp;\r\n\r\n<strong>4. TRADER TOPICS:</strong>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</strong></span></p>\r\nOver the past several sessions I have talked in the DAILY FX POSTS and on twitter about the fact we are heading into the summer doldrums of trading. This means much, much lower volatility and thinner trading markets across the board.\r\n\r\nFor the month of August, I may trade the odd trade but generally, I do NOT trade and in fact, there will be no blogs and I cannot guarantee even a tweet.\r\n\r\nYou basically have two options as I see it the height of the summer.\r\n<ol>\r\n	<li>Sit tight…stop trading until the Autumn (fall).</li>\r\n	<li>Take the opportunity to practice a different set of trading skills.</li>\r\n</ol>\r\nFor those of you that want to try some new trading ideas, here are a couple of ideas that you may want to consider.\r\n\r\n<strong>\r\nRANGE TRADING:</strong>\r\n\r\nOver the past couple of weeks you would have noticed that our trading ranges have tightened and basically all the ranges have pretty much held. There has been the odd breakout and breakdown but this is entirely due to thinner markets in my opinion.\r\n\r\nWith RANGE TRADING, you have to trade on much lower time frames. Use 1, 3 5, 10, 15 and 30 minute charts to plot entries and exits.\r\n\r\nUse trend lines to plot the ranges and enter as the pair hits the lower trend line long and short as the pair hits the upper trend line. Place you stops 1-30 pips either side beyond the trend lines, using your TRADING PLAN and RISK MANAGEMENT to plot the stop loss placements. Obviously you take your profits just before the trend line limits are reached, before the pair reverses direction.\r\n\r\nIt is essentially the pullback strategy within a plotted trading range.\r\n\r\n&nbsp;\r\n\r\n<strong>TRADE CROSS-RATES:</strong>\r\n\r\nMoving way from the USD major pairs towards the cross-rates can open up new opportunities. In normal times these are less liquid and more volatile at news events.\r\n\r\nAs you know as a FUNDAMENTAL TRADER first then technical, in particular I like the commodity crosses as these pairs are influenced more by fundamentals rather than the daily noise that you see in the USD majors. The only issue to bear in mind is that the commodity crosses are affected by “Risk on / Risk off”.\r\n\r\n<span style=\"text-decoration: underline;\">COMMODITY CROSSES: </span>\r\n\r\nEUR/AUD, EUR/NZD, EUR/CAD, EUR/NOK.\r\nGBP/AUD, GBP/NZD, GBP/CAD.\r\n\r\n<span style=\"text-decoration: underline;\">NON-COMMODITY CROSSES:</span>\r\n\r\nEUR/GBP\r\nGBP/CHF\r\n\r\nApart from the EUR/GBP, be careful with the rate spreads on the rest because if your range trading moves are say only a maximum of 25-35 pips, you may have a 5-8 pip rate spread on these pairs, maybe even higher when there is lower activity in the markets. Position sizes will be VERY IMPORTANT.\r\n\r\n&nbsp;\r\n\r\n<strong>MANAGE YOUR EXPECTATIONS:</strong>\r\n\r\nThis is crucial. There will be no 100-200 pip moves; at best you may see 25-35 pips. This is “scalping” trading in the truest sense, based upon a pullback strategy within a clearly defined range.\r\n\r\nWhilst some traders would argue, in lower volatility markets you can trade bigger positions to keep your profitability levels up, I would say AT YOUR PERIL….you get a move away from your direction…watch your losses add up.\r\n\r\nLower liquidity environments induce spikes, false breakouts and false breakdowns.\r\n\r\n&nbsp;\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\nIn my opinion, you have to still TRADE YOUR PLAN and PLAN YOUR TRADES. At ALL TIMES you must TRADE YOUR TRADING PLAN and work within your RISK MANAGEMENT guidelines.\r\n\r\nJust because it’s quieter it does not mean less discipline, it means greater disciplines are required to cope with the potential boredom.\r\n\r\nYou must range trade with stops in place 100% of the time.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT143\r\nUSD/CAD\r\nShort\r\nEntry: 1.0720\r\nStop Loss: 1.0761\r\nLimit / Target: 1.0625\r\nWeekly Closing Price: 1.0661\r\nPosition: +59 pips\r\n\r\nFT144\r\nNZD/USD\r\nShort\r\nEntry: 0.8786\r\nStop Loss: 0.8840\r\nLimit / Target: 0.8500\r\nWeekly Closing Position: 0.8777\r\nPosition: +9 pips<strong> </strong>\r\n\r\nFT145\r\nAUD/USD\r\nShort\r\nEntry: 0.9427\r\nStop Loss: 0.9475\r\nLimit / Target: 0.9210\r\nWeekly Closing Price: 0.9415\r\nPosition: +12 pips\r\n\r\nFT146\r\nCAD/JPY\r\nLong\r\nEntry: 95.06\r\nStop Loss: 94.20\r\nLimit / Target: 96.20\r\nWeekly Closing Price: 95.06\r\nPosition: +1 pip\r\n\r\nFT147\r\nEUR/GBP\r\nShort\r\nEntry: 0.7999\r\nStop Loss: 0.8050\r\nLimit / Target: 0.7800\r\nWeekly Closing Price: 0.7995\r\nPosition: +4 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0732\r\nPosition: -93 pips\r\n\r\nRT117\r\nAUD/USD\r\nShort\r\nCost Average: 0.9364\r\nStop Loss: 0.9460\r\nLimit / Target: 0.9000\r\nWeekly Closing Price: 0.9415\r\nPosition: -51 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8777\r\nPosition: -107 pips\r\n\r\nRT119\r\nGBP/USD\r\nShort\r\nCost Average: 1.6985\r\nStop Loss: 1.7070\r\nLimit / Target: 1.6750\r\nWeekly Closing Price: 1.7023\r\nPosition: -38 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (Hedged Trade)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9398\r\nPosition: -402 pips\r\n\r\nFUN29\r\nEUR/AUD\r\nLong\r\nCost Average: 1.4550\r\nStop Loss: 1.3950\r\nLimit / Target: 1.7400\r\nWeekly Closing Price: 1.4460\r\nPosition: -90 pips\r\n\r\nFUN30\r\nGBP/AUD\r\nLong\r\nCost Average: 1.8115\r\nStop Loss: 1.7950\r\nLimit / Target: 1.8800 (261.8% extension)\r\nWeekly Closing Price: 1.8045\r\nPosition: -70 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nThe following trade set-ups listed below are placed with my brokers.\r\n\r\nRT115\r\nUSD/NOK\r\nLong\r\nEntry at 6.0800\r\nStop at 6.0200\r\nLimit 6.2000\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDNOK-WEEKLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3960\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDNOK-WEEKLY-28062014-1024x464.png\" alt=\"USDNOK WEEKLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nRT116\r\nUSD/SEK\r\nLong\r\nEntry at 6.7000\r\nStop at 6.6450\r\nLimit 7.5700\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDSEK-240M-28062014.png\"><img class=\"aligncenter size-large wp-image-3962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDSEK-240M-28062014-1024x464.png\" alt=\"USDSEK 240M 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nFUN29\r\nEUR/SEK\r\nLong\r\nEntry at 9.1650\r\nStop at 9.1000\r\nLimit at 9.5475\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURSEK-MONTHLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3961\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURSEK-MONTHLY-28062014-1024x464.png\" alt=\"EURSEK MONTHLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3648.</strong> We have moved upwards by about 50 pips over last weeks close. My bias is to the downside given all the fundamentals surrounding the single currency, but it is just as much about the USD as it is about the EUR. The U.S. economy is not as great as the U.S. says it is and there is so much B.B. talked it is hard to cut through it. Bottom line is the U.S. needs consumer spending and consumer confidence to get growth really moving. All the talk about the weather…big fecking whoopee!! If the U.S. economy was moving forward we would not still be wasting time panicking about Q1 GDP when we are about to start Q3!\r\nUltimately, I do see that because of two different monetary policies operated by the central banks (FED &amp; ECB), this pair will fall. For now however, I see the immediate range as 1.3510 to 1.3750.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.7023</strong>. Basically unchanged in the past week, so the cable is consolidating above 1.7000 for now. Carney the HAWK was Carney the WET FISH during the week with the MPC review. This pair has a range of 1.6950 to 1.7060.\r\n\r\n<strong>AUD/USD: Closing Price 0.9415</strong>. A little higher this week over last weeks close at 0.9387. Given that we have an RBA statement early hours for me Tuesday morning, it will be interesting to hear what words of wisdom Glenn Stevens has for us this month. If you recall when the AUD/USD was at 0.9000 he was calling for the exchange rate to be more like 0.8500. It’s risen about 4% since that call for it to go lower. So what will Mr. Stevens say on Tuesday morning? Only the good lord knows at the moment. The range is quite tight 0.9350 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8777</strong>. The most over-valued currency pair on the planet in my opinion marches onwards and upwards. I am still short, and I keep adding at highs, when this baby drops Champagne is on me!!\r\nThe top of the range, all time highs are at 0.8880 and it may well be that we have to touch here before falling back. I am adjusting all my stops accordingly. However, I would not rule out “Wheeler the Dealer” directly intervening, he must be having sleepless nights over the NZD strength across the board. He never ruled this out as a way to control the exchange rate.\r\nThis guy has to learn he cannot raise interest rates and then complain that the exchange rate is too high. It just does not work that way. Verbal intervention fools no one these days. The range is really from 0.8720 up to 0.8880.\r\n\r\n<strong>USD/CAD: Closing Price 1.0661.</strong> A nice move is happening with the Cad and it’s crosses. We have fallen through key support at 1.0715 and are now zooming in on 1.0650. We can go lower as long as Oil prices are elevated. The range that interests me is 1.0585 to 1.0740.\r\n\r\n<strong>USD/CHF: Closing Price 0.8905</strong>. Even though we are sitting on support at 0.8910. Boring, boring…not interested in this pair unless the EUR/USD nose-dives below 1.3550. The range is 0.8850 to 0.8960.\r\n\r\n<strong>USD/JPY: Closing Price 101.39. </strong>This pair looks like it’s heading much lower once again. I am saying this after writing last week that I thought it was moving higher…! I am finding it very difficult to read JPY moves. The range that I am looking at is 101.15 to 101.85 / 102.15.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\nEUR/USD\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\nUSD/CAD\r\nUSD/CHF\r\nUSD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nAUD/CAD\r\nEUR/CAD\r\nGBP/CAD\r\nEUR/AUD\r\nGBP/AUD\r\nEUR/CHF\r\nAUD/NZD\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: NZD – Business Confidence.\r\n\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – HSBC Final Manufacturing PMI.\r\n\r\nTUESDAY: AUD – RBA Interest Rate Statement.\r\nTUESDAY: USD – ISM Manufacturing PMi.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – FED Yellen speaks.\r\nWEDNESDAY: AUD – RBA Stevens speaks.\r\nWEDNESDAY: CNY – Non-Manufacturing PMi.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: EUR – Interest Rate decision and Press Conference.\r\nTHURSDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nThe double whammy happens on Thursday; Non-Farm payrolls from the U.S. and Draghi’s ECB Press Conference. Other big news events are early Tuesday morning for me the RBA rate / policy statement. Will Glenn Stevens talk down the Aussie?\r\n\r\nUp until these events, I would say that we might just drift towards Thursday’s news, but in the background I would also imagine that many U.S. traders would be on vacation around the July 4th holidays. In addition we still have World Cup fever in play. So, in reality although it may look like a double whammy on the surface there may be outside influencing factors that could make these events less market moving than normal.\r\n\r\nTherefore, keep your TRADING DISCIPLINE high…do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nKeep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday June 28th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','THE FED & BOE versus BOJ, SNB and ECB','','publish','open','closed','','fed-boe-versus-boj-snb-ecb','','','2014-06-28 05:53:49','2014-06-28 10:53:49','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3963',0,'member_posts','',0),(3971,1,'2014-06-28 05:42:06','2014-06-28 10:42:06','','TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY','','inherit','open','closed','','tips-in-adjusting-to-the-forex-market-when-there-is-low-volatility','','','2014-06-28 05:42:06','2014-06-28 10:42:06','',3963,'https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf',0,'attachment','application/pdf',0);
INSERT INTO `vp_backup_wp_posts` VALUES (3972,1,'2014-06-28 05:50:45','2014-06-28 10:50:45','<strong>1. INTRODUCTION:</strong>\r\n\r\nWorld Cup fever has been slowing already slow Forex markets, and, I think we are now entering the summer doldrums. Our trading ranges are being well defined, the extremes created by false breakouts or false breakdowns are getting very familiar. So face the facts, we need to get our summer trading brains into position. For PREMIUM SERTVICE subscribers, in the TRADER TOPIC section this week I have written an article called “Tips in adjusting to the Forex market when there is low volatility”, and when combined with last weeks article “Are you forcing trades?”, these two articles will give you my thoughts to add to your own on dealing with and managing summer trading.\r\n\r\nOver the past week, we saw Carney backtrack and fumble his way rather unconvincingly through his session in front of the UK Parliamentary Select Committee that he reports to. Not as much a HAWK when somebody asks him a question and places him on the spot was he?\r\n\r\nWe had “Jim (I want to make a name for myself on TV) Bullard” the St Louis FED president, come out across the media on Thursday and state that he sees interest rates rises in the U.S. Q1 2015 for definite… This had the desired effect on the markets, nice bit of volatility, which I missed through connectivity issues. Thankfully we have stops to protect us in such unforeseen events, should they occur. As usual, what was taken away was given back, within 24 hours.\r\n\r\nThe big news for me was the poor U.S. GDP data. On the third reading (Holy Mother of God…three readings), it was revised further on the negative side from -1.0% to -2.9%.\r\n\r\nDid it affect equities? Not as much as I thought it would. As you know for the children on Wall Street, “Good news is good news and bad news in good news”. However, the effects of this revision created a stir with regards to all market makers revising their own calculations. Being my usual cynical self, all they do is just amended the actual and amended their targets for 2014 so that their numbers balance.\r\n\r\nWall Street is a numbers game supported by the FED. When you look at the indices charts we are looking at very exhausted formations. I read last week that the biggest buyers of stock on Wall Street at the moment are companies buying back their own stock to improve their EPS. Top line sales are just not there because spending is not happening and with fuel and food prices on the up and up, wages on the down and down (in real terms) who is spending?\r\n\r\nCompanies are not hiring, there is no real demand therefor to “dress up” performance and balance sheets so they are using cash reserves to buy stock to show an improving EFP. Next are redundancies to keep the balance sheets looking good? All is not good economically in the U.S. despite what you hear.\r\n\r\nThe largest spender in the world needs disposable income to spend…increasing food and fuel prices are stealth (hidden) taxes that hit almost everyone immediately to everyone rich or poor.\r\n\r\nThere are interesting times ahead, given the change in FED monetary policy, never mind issues with the BOJ and BOE, and then the ECB is a whole other matter.\r\n\r\nThe PREMIUM SERVICE has 13 open and live trades in play at the moment, with no limit orders in the background. Many more than I thought that there would be, most of them are in real terms longer FUNDAMENTAL style trades.\r\n\r\nI am watching a lot of RED on my screens, as most of my trades are negative. They are mostly very small positions but they are negative all the same. I took these trades on the basis knowing that they could reverse but my positions are small and I am well within my RISK MANAGEMENT parameters within my TRADING PLAN. If I add to my existing positions, which, I knew that I might have to do, they will be profitable very quickly on a momentum move. I can also half trades to reduce risk. I have several options but I am not at this stage concerned. My FUNDAMENTAL views have me in these trades the way that they are.\r\n\r\nThe PREMIUM SERVICE is still adding $$$ each month. I am very, very happy about this and at the end of this month I will be sending out a half-year summary about the performance over the social networks.\r\n\r\nHere’s an incentive - if you open an account with one of my approved brokers I can obtain a trading bonus for you and depending upon the size of your initial deposit the bonus could pay for a 12 months subscription to the PREMIUM SERVICE and give you cash back. Based on the performance so far, with just 50% of the year gone, you would see a handsome profit. That It is a convincing argument.\r\n\r\nWhy not open a separate account with me and try it?\r\n\r\nFinally, with regards to the PREMIUM SERVICE the 4-week trial special offer has ended. This really placed so much more administration time into my day it took sales time away. I doubt I will re-introduce it so 10 weeks will be the minimum option at $150.00. All details on the PREMIUM SERVICE can be found on the welcome page of the WEEKLY FX DRIVE THRU at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> at the top of the page.\r\n\r\nIf any of you have questions about the PREMIUM SERVICE please contact me at drivethru@weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n\r\n<strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JUNE 2014 and YEAR to date:</strong>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\"><img class=\"aligncenter size-full wp-image-3964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\" alt=\"PREM SERV PROFITS 1 28062014\" width=\"445\" height=\"423\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\"><img class=\"aligncenter size-full wp-image-3965\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\" alt=\"PREM SERV PROFITS2 28062014\" width=\"456\" height=\"416\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>THE FED &amp; BOE versus BOJ, SNB and ECB</strong></span></p>\r\nFollowing on from my article regarding the celebrity status of the Central bank governors around the world, I give you part II.\r\n\r\nFor all those people who defended Mario Draghi with emails, tweets and LinkedIn comments to me over the past 7 days…let me re-iterate my view, which, has NOT changed. He is a puppet from Berlin and quite frankly his performance at best in mediocre, the ECB has failed the people of the Eurozone in dramatic style. To say that he is independent of political influence is total bulls**t and 100% total crap. The Eurozone epitomizes dithering, indecision and inept management. These views I just cannot see changing. How people can defend a central bank that sets out forward guidance and then constantly revise data and move the goal posts to meet these forward guidance objectives, is best at any stretch of the imagination…poor.\r\n\r\nMoving on from the pleasantries….\r\n\r\n(Later in this article, I am going to give a TRADING TIP (SET-UP) to all readers whether PREMIUM SERVICE or FREE NEWSLETTER SUBSCRIBERS).\r\n\r\nWe now enter a very interesting period in Forex trading. The Currency manipulators are changing sentiment.\r\n\r\nCentral banks that were basically aligned in 2008-2009 are now going their own ways after dealing with the fallout of the financial crash in their own way. Monetary policy decisions are changing across the board and we have to take notice as this will effect out trades in the short and medium terms. Being a FUNDAMENTAL trader first then technical this is the sort of news I love. Irrespective of what type of trader you are this now going to affect all of us.\r\n\r\nAll we have heard of for years is “easing”, “accommodative”, “firmly anchored” and “for an extended period of time”. It’s changing.\r\n\r\nThe current major players in currency manipulation at the moment are: -\r\n\r\n<span style=\"text-decoration: underline;\">FED:</span>\r\n\r\nThe FED started the ball rolling with the word of 2013 “Tapering”. Each month the amount of support to markets provided by the FED has been reducing by $10 billion per month. It now stands at $45 billion per month down from original $85 billion.\r\n\r\n<span style=\"text-decoration: underline;\">BOE:</span>\r\n\r\nThe UK still has an Asset Purchasing Facility in place to purchase “Gilts” of £375 million.\r\n\r\n<span style=\"text-decoration: underline;\">BOJ:</span>\r\n\r\nLast year (April 2013) the BOJ committed to $1.4 trillion of quantitative easing through the Japanese economy inside two years.\r\n\r\n<span style=\"text-decoration: underline;\">ECB:</span>\r\n\r\nIt still has in place, I think, the OMT (Outright Monetary Transactions), it did not use this tool when it was announced.\r\nThe ECB introduced LTRO (Long Term Refinancing Operations), which I believe are now completed.\r\nEarlier this month it introduced negative deposit rates for banks wanting to deposit overnight funds. Full-blown Quantitative easing is apparently an option and not yet ruled out and there are more initiatives to come.\r\n\r\n<span style=\"text-decoration: underline;\">SNB:</span>\r\n\r\nIt has in place a floor limit on the EUR/CHF pair at 1.2000. Due to it’s proximity and ‘safe –haven” status. The SNB is an interesting party to the currency manipulation in play currently operated by the central banks. It is direct and openly known to all markets. There is 100% clarity in what is going on and where the limits lie.\r\n\r\nIn the past 14 days we have heard the following: -\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE GREEN CORNER</strong></span>\r\n\r\nMark Carney from the Bank Of England, in his annual Mansion House speech alerted the markets that they are underestimating economic matters as interest rates in the UK will be rising much faster than they think. This prompted GBP buying. Subsequently, he fumbled at the MPC session that he took questions at stating that rates would be very staggered over basically an extended period of time. Recent financial reviews that I have read are expecting the first rate hike Q4 2014 that is this year!\r\n\r\nJim Bullard, the St Louis FED president said a few days ago that interest rates would be rising in the U.S. Q1 2015. This sits nicely with what Ben Bernake stated just before he left the FED stating that tapering would run out 2014, leaving the door open for gradual rate increases.\r\n\r\nand\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE RED CORNER</strong></span>\r\n\r\nShinzo Abe, the Japanese Prime Minister talked about his 3<sup>rd</sup> arrow (stimulus talk). I would say he is sweating bullets at the moment because in spite of massive stimulus his attempts to revive the Japanese economy could be at risk of failure. Like the USA consumer spending is a problem. This is a key driver to a growing economy. The Nikkei is down this year by 6% after a 60% rise last year. The USD/JPY is up 3% this year when last year the JPY weakened against the USD by 21%.\r\nMore stimulus / more easing is on it’s way.\r\n\r\nThe ECB through Mario Draghi is easing. Whichever way you slice it, the ECB is on a policy of continued and increasing easing. Draghi almost re-iterated his 2012 call of “Whatever it takes”.\r\n\r\nThe SNB has said through governor Jordan that it will react to the ECB stimulus policies to protect the CHF currency.\r\n\r\n&nbsp;\r\n\r\nTherefore, we have two central banks moving away from accommodative policies and three continuing and probably adding to what it already has in place.\r\n\r\nFrom a traders perspective this should only lead to two words...”HAPPY DAYS”. We should also get momentum and direction across certain pairs.\r\n\r\nI mentioned at the beginning of this article I have a trade set-up to consider. It is the EUR/GBP short.\r\n\r\nThis pair is a compelling trade from my perspective. The Eurozone is easing and the UK is hiking rates, this monetary policy divergence places the EUR/GBP at real risk of a major downside move.\r\n\r\nThe chart below shows my downside objectives of 0.7800 and hopefully in the very long term 0.7400.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3959\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014-1024x464.png\" alt=\"EURGBP MONTHLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nThere are other pairs that jump out as well with this change in policy. These will be delivered only to subscribers of the PREMIUM SERVICE.\r\n\r\n&nbsp;\r\n\r\n<strong>4. TRADER TOPICS:</strong>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</strong></span></p>\r\nOver the past several sessions I have talked in the DAILY FX POSTS and on twitter about the fact we are heading into the summer doldrums of trading. This means much, much lower volatility and thinner trading markets across the board.\r\n\r\nFor the month of August, I may trade the odd trade but generally, I do NOT trade and in fact, there will be no blogs and I cannot guarantee even a tweet.\r\n\r\nYou basically have two options as I see it the height of the summer.\r\n<ol>\r\n	<li>Sit tight…stop trading until the Autumn (fall).</li>\r\n	<li>Take the opportunity to practice a different set of trading skills.</li>\r\n</ol>\r\nFor those of you that want to try some new trading ideas, here are a couple of ideas that you may want to consider.\r\n\r\n<strong>\r\nRANGE TRADING:</strong>\r\n\r\nOver the past couple of weeks you would have noticed that our trading ranges have tightened and basically all the ranges have pretty much held. There has been the odd breakout and breakdown but this is entirely due to thinner markets in my opinion.\r\n\r\nWith RANGE TRADING, you have to trade on much lower time frames. Use 1, 3 5, 10, 15 and 30 minute charts to plot entries and exits.\r\n\r\nUse trend lines to plot the ranges and enter as the pair hits the lower trend line long and short as the pair hits the upper trend line. Place you stops 1-30 pips either side beyond the trend lines, using your TRADING PLAN and RISK MANAGEMENT to plot the stop loss placements. Obviously you take your profits just before the trend line limits are reached, before the pair reverses direction.\r\n\r\nIt is essentially the pullback strategy within a plotted trading range.\r\n\r\n&nbsp;\r\n\r\n<strong>TRADE CROSS-RATES:</strong>\r\n\r\nMoving way from the USD major pairs towards the cross-rates can open up new opportunities. In normal times these are less liquid and more volatile at news events.\r\n\r\nAs you know as a FUNDAMENTAL TRADER first then technical, in particular I like the commodity crosses as these pairs are influenced more by fundamentals rather than the daily noise that you see in the USD majors. The only issue to bear in mind is that the commodity crosses are affected by “Risk on / Risk off”.\r\n\r\n<span style=\"text-decoration: underline;\">COMMODITY CROSSES: </span>\r\n\r\nEUR/AUD, EUR/NZD, EUR/CAD, EUR/NOK.\r\nGBP/AUD, GBP/NZD, GBP/CAD.\r\n\r\n<span style=\"text-decoration: underline;\">NON-COMMODITY CROSSES:</span>\r\n\r\nEUR/GBP\r\nGBP/CHF\r\n\r\nApart from the EUR/GBP, be careful with the rate spreads on the rest because if your range trading moves are say only a maximum of 25-35 pips, you may have a 5-8 pip rate spread on these pairs, maybe even higher when there is lower activity in the markets. Position sizes will be VERY IMPORTANT.\r\n\r\n&nbsp;\r\n\r\n<strong>MANAGE YOUR EXPECTATIONS:</strong>\r\n\r\nThis is crucial. There will be no 100-200 pip moves; at best you may see 25-35 pips. This is “scalping” trading in the truest sense, based upon a pullback strategy within a clearly defined range.\r\n\r\nWhilst some traders would argue, in lower volatility markets you can trade bigger positions to keep your profitability levels up, I would say AT YOUR PERIL….you get a move away from your direction…watch your losses add up.\r\n\r\nLower liquidity environments induce spikes, false breakouts and false breakdowns.\r\n\r\n&nbsp;\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\nIn my opinion, you have to still TRADE YOUR PLAN and PLAN YOUR TRADES. At ALL TIMES you must TRADE YOUR TRADING PLAN and work within your RISK MANAGEMENT guidelines.\r\n\r\nJust because it’s quieter it does not mean less discipline, it means greater disciplines are required to cope with the potential boredom.\r\n\r\nYou must range trade with stops in place 100% of the time.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT143\r\nUSD/CAD\r\nShort\r\nEntry: 1.0720\r\nStop Loss: 1.0761\r\nLimit / Target: 1.0625\r\nWeekly Closing Price: 1.0661\r\nPosition: +59 pips\r\n\r\nFT144\r\nNZD/USD\r\nShort\r\nEntry: 0.8786\r\nStop Loss: 0.8840\r\nLimit / Target: 0.8500\r\nWeekly Closing Position: 0.8777\r\nPosition: +9 pips<strong> </strong>\r\n\r\nFT145\r\nAUD/USD\r\nShort\r\nEntry: 0.9427\r\nStop Loss: 0.9475\r\nLimit / Target: 0.9210\r\nWeekly Closing Price: 0.9415\r\nPosition: +12 pips\r\n\r\nFT146\r\nCAD/JPY\r\nLong\r\nEntry: 95.06\r\nStop Loss: 94.20\r\nLimit / Target: 96.20\r\nWeekly Closing Price: 95.06\r\nPosition: +1 pip\r\n\r\nFT147\r\nEUR/GBP\r\nShort\r\nEntry: 0.7999\r\nStop Loss: 0.8050\r\nLimit / Target: 0.7800\r\nWeekly Closing Price: 0.7995\r\nPosition: +4 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0732\r\nPosition: -93 pips\r\n\r\nRT117\r\nAUD/USD\r\nShort\r\nCost Average: 0.9364\r\nStop Loss: 0.9460\r\nLimit / Target: 0.9000\r\nWeekly Closing Price: 0.9415\r\nPosition: -51 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8777\r\nPosition: -107 pips\r\n\r\nRT119\r\nGBP/USD\r\nShort\r\nCost Average: 1.6985\r\nStop Loss: 1.7070\r\nLimit / Target: 1.6750\r\nWeekly Closing Price: 1.7023\r\nPosition: -38 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (Hedged Trade)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9398\r\nPosition: -402 pips\r\n\r\nFUN29\r\nEUR/AUD\r\nLong\r\nCost Average: 1.4550\r\nStop Loss: 1.3950\r\nLimit / Target: 1.7400\r\nWeekly Closing Price: 1.4460\r\nPosition: -90 pips\r\n\r\nFUN30\r\nGBP/AUD\r\nLong\r\nCost Average: 1.8115\r\nStop Loss: 1.7950\r\nLimit / Target: 1.8800 (261.8% extension)\r\nWeekly Closing Price: 1.8045\r\nPosition: -70 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nThe following trade set-ups listed below are placed with my brokers.\r\n\r\nRT115\r\nUSD/NOK\r\nLong\r\nEntry at 6.0800\r\nStop at 6.0200\r\nLimit 6.2000\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDNOK-WEEKLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3960\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDNOK-WEEKLY-28062014-1024x464.png\" alt=\"USDNOK WEEKLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nRT116\r\nUSD/SEK\r\nLong\r\nEntry at 6.7000\r\nStop at 6.6450\r\nLimit 7.5700\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDSEK-240M-28062014.png\"><img class=\"aligncenter size-large wp-image-3962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDSEK-240M-28062014-1024x464.png\" alt=\"USDSEK 240M 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nFUN29\r\nEUR/SEK\r\nLong\r\nEntry at 9.1650\r\nStop at 9.1000\r\nLimit at 9.5475\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURSEK-MONTHLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3961\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURSEK-MONTHLY-28062014-1024x464.png\" alt=\"EURSEK MONTHLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3648.</strong> We have moved upwards by about 50 pips over last weeks close. My bias is to the downside given all the fundamentals surrounding the single currency, but it is just as much about the USD as it is about the EUR. The U.S. economy is not as great as the U.S. says it is and there is so much B.B. talked it is hard to cut through it. Bottom line is the U.S. needs consumer spending and consumer confidence to get growth really moving. All the talk about the weather…big fecking whoopee!! If the U.S. economy was moving forward we would not still be wasting time panicking about Q1 GDP when we are about to start Q3!\r\nUltimately, I do see that because of two different monetary policies operated by the central banks (FED &amp; ECB), this pair will fall. For now however, I see the immediate range as 1.3510 to 1.3750.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.7023</strong>. Basically unchanged in the past week, so the cable is consolidating above 1.7000 for now. Carney the HAWK was Carney the WET FISH during the week with the MPC review. This pair has a range of 1.6950 to 1.7060.\r\n\r\n<strong>AUD/USD: Closing Price 0.9415</strong>. A little higher this week over last weeks close at 0.9387. Given that we have an RBA statement early hours for me Tuesday morning, it will be interesting to hear what words of wisdom Glenn Stevens has for us this month. If you recall when the AUD/USD was at 0.9000 he was calling for the exchange rate to be more like 0.8500. It’s risen about 4% since that call for it to go lower. So what will Mr. Stevens say on Tuesday morning? Only the good lord knows at the moment. The range is quite tight 0.9350 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8777</strong>. The most over-valued currency pair on the planet in my opinion marches onwards and upwards. I am still short, and I keep adding at highs, when this baby drops Champagne is on me!!\r\nThe top of the range, all time highs are at 0.8880 and it may well be that we have to touch here before falling back. I am adjusting all my stops accordingly. However, I would not rule out “Wheeler the Dealer” directly intervening, he must be having sleepless nights over the NZD strength across the board. He never ruled this out as a way to control the exchange rate.\r\nThis guy has to learn he cannot raise interest rates and then complain that the exchange rate is too high. It just does not work that way. Verbal intervention fools no one these days. The range is really from 0.8720 up to 0.8880.\r\n\r\n<strong>USD/CAD: Closing Price 1.0661.</strong> A nice move is happening with the Cad and it’s crosses. We have fallen through key support at 1.0715 and are now zooming in on 1.0650. We can go lower as long as Oil prices are elevated. The range that interests me is 1.0585 to 1.0740.\r\n\r\n<strong>USD/CHF: Closing Price 0.8905</strong>. Even though we are sitting on support at 0.8910. Boring, boring…not interested in this pair unless the EUR/USD nose-dives below 1.3550. The range is 0.8850 to 0.8960.\r\n\r\n<strong>USD/JPY: Closing Price 101.39. </strong>This pair looks like it’s heading much lower once again. I am saying this after writing last week that I thought it was moving higher…! I am finding it very difficult to read JPY moves. The range that I am looking at is 101.15 to 101.85 / 102.15.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\nEUR/USD\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\nUSD/CAD\r\nUSD/CHF\r\nUSD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nAUD/CAD\r\nEUR/CAD\r\nGBP/CAD\r\nEUR/AUD\r\nGBP/AUD\r\nEUR/CHF\r\nAUD/NZD\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: NZD – Business Confidence.\r\n\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – HSBC Final Manufacturing PMI.\r\n\r\nTUESDAY: AUD – RBA Interest Rate Statement.\r\nTUESDAY: USD – ISM Manufacturing PMi.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – FED Yellen speaks.\r\nWEDNESDAY: AUD – RBA Stevens speaks.\r\nWEDNESDAY: CNY – Non-Manufacturing PMi.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: EUR – Interest Rate decision and Press Conference.\r\nTHURSDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nThe double whammy happens on Thursday; Non-Farm payrolls from the U.S. and Draghi’s ECB Press Conference. Other big news events are early Tuesday morning for me the RBA rate / policy statement. Will Glenn Stevens talk down the Aussie?\r\n\r\nUp until these events, I would say that we might just drift towards Thursday’s news, but in the background I would also imagine that many U.S. traders would be on vacation around the July 4th holidays. In addition we still have World Cup fever in play. So, in reality althoughit may look like a double whammy on the surface there may be outside influencing factors that could make these events less market moving than normal.\r\n\r\nTherefore, keep your TRADING DISCIPLINE high…do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nKeep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday June 28th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','THE FED & BOE versus BOJ, SNB and ECB','','inherit','open','closed','','3963-revision-v1','','','2014-06-28 05:50:45','2014-06-28 10:50:45','',3963,'https://weeklyfxdrivethru.com/3963-revision-v1/',0,'revision','',0),(3973,1,'2014-06-28 05:53:49','2014-06-28 10:53:49','<strong>1. INTRODUCTION:</strong>\r\n\r\nWorld Cup fever has been slowing already slow Forex markets, and, I think we are now entering the summer doldrums. Our trading ranges are being well-defined, the extremes created by false breakouts or false breakdowns are getting very familiar. So face the facts, we need to get our summer trading brains into position. For PREMIUM SERVICE subscribers, in the TRADER TOPIC section this week I have written an article called “Tips in adjusting to the Forex market when there is low volatility”, and when combined with last weeks article “Are you forcing trades?”, these two articles will give you my thoughts to add to your own on dealing with and managing summer trading.\r\n\r\nOver the past week, we saw Carney backtrack and fumble his way rather unconvincingly through his session in front of the UK Parliamentary Select Committee that he reports to. Not as much a HAWK when somebody asks him a question and places him on the spot was he?\r\n\r\nWe had “Jim (I want to make a name for myself on TV) Bullard” the St Louis FED president, come out across the media on Thursday and state that he sees interest rates rises in the U.S. Q1 2015 for definite… This had the desired effect on the markets, nice bit of volatility, which I missed through connectivity issues. Thankfully we have stops to protect us in such unforeseen events, should they occur. As usual, what was taken away was given back, within 24 hours.\r\n\r\nThe big news for me was the poor U.S. GDP data. On the third reading (Holy Mother of God…three readings), it was revised further on the negative side from -1.0% to -2.9%.\r\n\r\nDid it affect equities? Not as much as I thought it would. As you know for the children on Wall Street, “Good news is good news and bad news in good news”. However, the effects of this revision created a stir with regards to all market makers revising their own calculations. Being my usual cynical self, all they do is just amended the actual and amended their targets for 2014 so that their numbers balance.\r\n\r\nWall Street is a numbers game supported by the FED. When you look at the indices charts we are looking at very exhausted formations. I read last week that the biggest buyers of stock on Wall Street at the moment are companies buying back their own stock to improve their EPS. Top line sales are just not there because spending is not happening and with fuel and food prices on the up and up, wages on the down and down (in real terms) who is spending?\r\n\r\nCompanies are not hiring, there is no real demand therefore to “dress up” performance and balance sheets so they are using cash reserves to buy stock to show an improving EPS. Next are redundancies to keep the balance sheets looking good? All is not good economically in the U.S. despite what you hear.\r\n\r\nThe largest spender in the world needs disposable income to spend…increasing food and fuel prices are stealth (hidden) taxes that hit almost everyone immediately rich or poor.\r\n\r\nThere are interesting times ahead, given the change in FED monetary policy, never mind issues with the BOJ and BOE, and then the ECB is a whole other matter.\r\n\r\nThe PREMIUM SERVICE has 13 open and live trades in play at the moment, with no limit orders in the background. Many more than I thought that there would be, most of them are in real terms longer FUNDAMENTAL style trades.\r\n\r\nI am watching a lot of RED on my screens, as most of my trades are negative. They are mostly very small positions but they are negative all the same. I took these trades on the basis knowing that they could reverse but my positions are small and I am well within my RISK MANAGEMENT parameters within my TRADING PLAN. If I add to my existing positions, which, I knew that I might have to do, they will be profitable very quickly on a momentum move. I can also half trades to reduce risk. I have several options but I am not at this stage concerned. My FUNDAMENTAL views have me in these trades the way that they are.\r\n\r\nThe PREMIUM SERVICE is still adding $$$ each month. I am very, very happy about this and at the end of this month I will be sending out a half-year summary about the performance over the social networks.\r\n\r\nHere’s an incentive - if you open an account with one of my approved brokers I can obtain a trading bonus for you and depending upon the size of your initial deposit the bonus could pay for a 12 months subscription to the PREMIUM SERVICE and give you cash back. Based on the performance so far, with just 50% of the year gone, you would see a handsome profit. That It is a convincing argument.\r\n\r\nWhy not open a separate account with me and try it?\r\n\r\nFinally, with regards to the PREMIUM SERVICE the 4-week trial special offer has ended. This really placed so much more administration time into my day it took sales time away. I doubt I will re-introduce it so 10 weeks will be the minimum option at $150.00. All details on the PREMIUM SERVICE can be found on the welcome page of the WEEKLY FX DRIVE THRU at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> at the top of the page.\r\n\r\nIf any of you have questions about the PREMIUM SERVICE please contact me at drivethru@weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n\r\n<strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JUNE 2014 and YEAR to date:</strong>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\"><img class=\"aligncenter size-full wp-image-3964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\" alt=\"PREM SERV PROFITS 1 28062014\" width=\"445\" height=\"423\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\"><img class=\"aligncenter size-full wp-image-3965\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\" alt=\"PREM SERV PROFITS2 28062014\" width=\"456\" height=\"416\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>THE FED &amp; BOE versus BOJ, SNB and ECB</strong></span></p>\r\nFollowing on from my article regarding the celebrity status of the Central bank governors around the world, I give you part II.\r\n\r\nFor all those people who defended Mario Draghi with emails, tweets and LinkedIn comments to me over the past 7 days…let me re-iterate my view, which, has NOT changed. He is a puppet from Berlin and quite frankly his performance at best in mediocre, the ECB has failed the people of the Eurozone in dramatic style. To say that he is independent of political influence is total bulls**t and 100% total crap. The Eurozone epitomizes dithering, indecision and inept management. These views I just cannot see changing. How people can defend a central bank that sets out forward guidance and then constantly revise data and move the goal posts to meet these forward guidance objectives, is best at any stretch of the imagination…poor.\r\n\r\nMoving on from the pleasantries….\r\n\r\n(Later in this article, I am going to give a TRADING TIP (SET-UP) to all readers whether PREMIUM SERVICE or FREE NEWSLETTER SUBSCRIBERS).\r\n\r\nWe now enter a very interesting period in Forex trading. The Currency manipulators are changing sentiment.\r\n\r\nCentral banks that were basically aligned in 2008-2009 are now going their own ways after dealing with the fallout of the financial crash in their own way. Monetary policy decisions are changing across the board and we have to take notice as this will effect out trades in the short and medium terms. Being a FUNDAMENTAL trader first then technical this is the sort of news I love. Irrespective of what type of trader you are this now going to affect all of us.\r\n\r\nAll we have heard of for years is “easing”, “accommodative”, “firmly anchored” and “for an extended period of time”. It’s changing.\r\n\r\nThe current major players in currency manipulation at the moment are: -\r\n\r\n<span style=\"text-decoration: underline;\">FED:</span>\r\n\r\nThe FED started the ball rolling with the word of 2013 “Tapering”. Each month the amount of support to markets provided by the FED has been reducing by $10 billion per month. It now stands at $45 billion per month down from original $85 billion.\r\n\r\n<span style=\"text-decoration: underline;\">BOE:</span>\r\n\r\nThe UK still has an Asset Purchasing Facility in place to purchase “Gilts” of £375 million.\r\n\r\n<span style=\"text-decoration: underline;\">BOJ:</span>\r\n\r\nLast year (April 2013) the BOJ committed to $1.4 trillion of quantitative easing through the Japanese economy inside two years.\r\n\r\n<span style=\"text-decoration: underline;\">ECB:</span>\r\n\r\nIt still has in place, I think, the OMT (Outright Monetary Transactions), it did not use this tool when it was announced.\r\nThe ECB introduced LTRO (Long Term Refinancing Operations), which I believe are now completed.\r\nEarlier this month it introduced negative deposit rates for banks wanting to deposit overnight funds. Full-blown Quantitative easing is apparently an option and not yet ruled out and there are more initiatives to come.\r\n\r\n<span style=\"text-decoration: underline;\">SNB:</span>\r\n\r\nIt has in place a floor limit on the EUR/CHF pair at 1.2000. Due to it’s proximity and ‘safe –haven” status. The SNB is an interesting party to the currency manipulation in play currently operated by the central banks. It is direct and openly known to all markets. There is 100% clarity in what is going on and where the limits lie.\r\n\r\nIn the past 14 days we have heard the following: -\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE GREEN CORNER</strong></span>\r\n\r\nMark Carney from the Bank Of England, in his annual Mansion House speech alerted the markets that they are underestimating economic matters as interest rates in the UK will be rising much faster than they think. This prompted GBP buying. Subsequently, he fumbled at the MPC session that he took questions at stating that rates would be very staggered over basically an extended period of time. Recent financial reviews that I have read are expecting the first rate hike Q4 2014 that is this year!\r\n\r\nJim Bullard, the St Louis FED president said a few days ago that interest rates would be rising in the U.S. Q1 2015. This sits nicely with what Ben Bernake stated just before he left the FED stating that tapering would run out 2014, leaving the door open for gradual rate increases.\r\n\r\nand\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE RED CORNER</strong></span>\r\n\r\nShinzo Abe, the Japanese Prime Minister talked about his 3<sup>rd</sup> arrow (stimulus talk). I would say he is sweating bullets at the moment because in spite of massive stimulus his attempts to revive the Japanese economy could be at risk of failure. Like the USA consumer spending is a problem. This is a key driver to a growing economy. The Nikkei is down this year by 6% after a 60% rise last year. The USD/JPY is up 3% this year when last year the JPY weakened against the USD by 21%.\r\nMore stimulus / more easing is on it’s way.\r\n\r\nThe ECB through Mario Draghi is easing. Whichever way you slice it, the ECB is on a policy of continued and increasing easing. Draghi almost re-iterated his 2012 call of “Whatever it takes”.\r\n\r\nThe SNB has said through governor Jordan that it will react to the ECB stimulus policies to protect the CHF currency.\r\n\r\n&nbsp;\r\n\r\nTherefore, we have two central banks moving away from accommodative policies and three continuing and probably adding to what it already has in place.\r\n\r\nFrom a traders perspective this should only lead to two words...”HAPPY DAYS”. We should also get momentum and direction across certain pairs.\r\n\r\nI mentioned at the beginning of this article I have a trade set-up to consider. It is the EUR/GBP short.\r\n\r\nThis pair is a compelling trade from my perspective. The Eurozone is easing and the UK is hiking rates, this monetary policy divergence places the EUR/GBP at real risk of a major downside move.\r\n\r\nThe chart below shows my downside objectives of 0.7800 and hopefully in the very long term 0.7400.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3959\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014-1024x464.png\" alt=\"EURGBP MONTHLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nThere are other pairs that jump out as well with this change in policy. These will be delivered only to subscribers of the PREMIUM SERVICE.\r\n\r\n&nbsp;\r\n\r\n<strong>4. TRADER TOPICS:</strong>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</strong></span></p>\r\nOver the past several sessions I have talked in the DAILY FX POSTS and on twitter about the fact we are heading into the summer doldrums of trading. This means much, much lower volatility and thinner trading markets across the board.\r\n\r\nFor the month of August, I may trade the odd trade but generally, I do NOT trade and in fact, there will be no blogs and I cannot guarantee even a tweet.\r\n\r\nYou basically have two options as I see it the height of the summer.\r\n<ol>\r\n	<li>Sit tight…stop trading until the Autumn (fall).</li>\r\n	<li>Take the opportunity to practice a different set of trading skills.</li>\r\n</ol>\r\nFor those of you that want to try some new trading ideas, here are a couple of ideas that you may want to consider.\r\n\r\n<strong>\r\nRANGE TRADING:</strong>\r\n\r\nOver the past couple of weeks you would have noticed that our trading ranges have tightened and basically all the ranges have pretty much held. There has been the odd breakout and breakdown but this is entirely due to thinner markets in my opinion.\r\n\r\nWith RANGE TRADING, you have to trade on much lower time frames. Use 1, 3 5, 10, 15 and 30 minute charts to plot entries and exits.\r\n\r\nUse trend lines to plot the ranges and enter as the pair hits the lower trend line long and short as the pair hits the upper trend line. Place you stops 1-30 pips either side beyond the trend lines, using your TRADING PLAN and RISK MANAGEMENT to plot the stop loss placements. Obviously you take your profits just before the trend line limits are reached, before the pair reverses direction.\r\n\r\nIt is essentially the pullback strategy within a plotted trading range.\r\n\r\n&nbsp;\r\n\r\n<strong>TRADE CROSS-RATES:</strong>\r\n\r\nMoving way from the USD major pairs towards the cross-rates can open up new opportunities. In normal times these are less liquid and more volatile at news events.\r\n\r\nAs you know as a FUNDAMENTAL TRADER first then technical, in particular I like the commodity crosses as these pairs are influenced more by fundamentals rather than the daily noise that you see in the USD majors. The only issue to bear in mind is that the commodity crosses are affected by “Risk on / Risk off”.\r\n\r\n<span style=\"text-decoration: underline;\">COMMODITY CROSSES: </span>\r\n\r\nEUR/AUD, EUR/NZD, EUR/CAD, EUR/NOK.\r\nGBP/AUD, GBP/NZD, GBP/CAD.\r\n\r\n<span style=\"text-decoration: underline;\">NON-COMMODITY CROSSES:</span>\r\n\r\nEUR/GBP\r\nGBP/CHF\r\n\r\nApart from the EUR/GBP, be careful with the rate spreads on the rest because if your range trading moves are say only a maximum of 25-35 pips, you may have a 5-8 pip rate spread on these pairs, maybe even higher when there is lower activity in the markets. Position sizes will be VERY IMPORTANT.\r\n\r\n&nbsp;\r\n\r\n<strong>MANAGE YOUR EXPECTATIONS:</strong>\r\n\r\nThis is crucial. There will be no 100-200 pip moves; at best you may see 25-35 pips. This is “scalping” trading in the truest sense, based upon a pullback strategy within a clearly defined range.\r\n\r\nWhilst some traders would argue, in lower volatility markets you can trade bigger positions to keep your profitability levels up, I would say AT YOUR PERIL….you get a move away from your direction…watch your losses add up.\r\n\r\nLower liquidity environments induce spikes, false breakouts and false breakdowns.\r\n\r\n&nbsp;\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\nIn my opinion, you have to still TRADE YOUR PLAN and PLAN YOUR TRADES. At ALL TIMES you must TRADE YOUR TRADING PLAN and work within your RISK MANAGEMENT guidelines.\r\n\r\nJust because it’s quieter it does not mean less discipline, it means greater disciplines are required to cope with the potential boredom.\r\n\r\nYou must range trade with stops in place 100% of the time.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT143\r\nUSD/CAD\r\nShort\r\nEntry: 1.0720\r\nStop Loss: 1.0761\r\nLimit / Target: 1.0625\r\nWeekly Closing Price: 1.0661\r\nPosition: +59 pips\r\n\r\nFT144\r\nNZD/USD\r\nShort\r\nEntry: 0.8786\r\nStop Loss: 0.8840\r\nLimit / Target: 0.8500\r\nWeekly Closing Position: 0.8777\r\nPosition: +9 pips<strong> </strong>\r\n\r\nFT145\r\nAUD/USD\r\nShort\r\nEntry: 0.9427\r\nStop Loss: 0.9475\r\nLimit / Target: 0.9210\r\nWeekly Closing Price: 0.9415\r\nPosition: +12 pips\r\n\r\nFT146\r\nCAD/JPY\r\nLong\r\nEntry: 95.06\r\nStop Loss: 94.20\r\nLimit / Target: 96.20\r\nWeekly Closing Price: 95.06\r\nPosition: +1 pip\r\n\r\nFT147\r\nEUR/GBP\r\nShort\r\nEntry: 0.7999\r\nStop Loss: 0.8050\r\nLimit / Target: 0.7800\r\nWeekly Closing Price: 0.7995\r\nPosition: +4 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0732\r\nPosition: -93 pips\r\n\r\nRT117\r\nAUD/USD\r\nShort\r\nCost Average: 0.9364\r\nStop Loss: 0.9460\r\nLimit / Target: 0.9000\r\nWeekly Closing Price: 0.9415\r\nPosition: -51 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8777\r\nPosition: -107 pips\r\n\r\nRT119\r\nGBP/USD\r\nShort\r\nCost Average: 1.6985\r\nStop Loss: 1.7070\r\nLimit / Target: 1.6750\r\nWeekly Closing Price: 1.7023\r\nPosition: -38 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (Hedged Trade)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9398\r\nPosition: -402 pips\r\n\r\nFUN29\r\nEUR/AUD\r\nLong\r\nCost Average: 1.4550\r\nStop Loss: 1.3950\r\nLimit / Target: 1.7400\r\nWeekly Closing Price: 1.4460\r\nPosition: -90 pips\r\n\r\nFUN30\r\nGBP/AUD\r\nLong\r\nCost Average: 1.8115\r\nStop Loss: 1.7950\r\nLimit / Target: 1.8800 (261.8% extension)\r\nWeekly Closing Price: 1.8045\r\nPosition: -70 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nThe following trade set-ups listed below are placed with my brokers.\r\n\r\nRT115\r\nUSD/NOK\r\nLong\r\nEntry at 6.0800\r\nStop at 6.0200\r\nLimit 6.2000\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDNOK-WEEKLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3960\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDNOK-WEEKLY-28062014-1024x464.png\" alt=\"USDNOK WEEKLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nRT116\r\nUSD/SEK\r\nLong\r\nEntry at 6.7000\r\nStop at 6.6450\r\nLimit 7.5700\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDSEK-240M-28062014.png\"><img class=\"aligncenter size-large wp-image-3962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDSEK-240M-28062014-1024x464.png\" alt=\"USDSEK 240M 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nFUN29\r\nEUR/SEK\r\nLong\r\nEntry at 9.1650\r\nStop at 9.1000\r\nLimit at 9.5475\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURSEK-MONTHLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3961\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURSEK-MONTHLY-28062014-1024x464.png\" alt=\"EURSEK MONTHLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3648.</strong> We have moved upwards by about 50 pips over last weeks close. My bias is to the downside given all the fundamentals surrounding the single currency, but it is just as much about the USD as it is about the EUR. The U.S. economy is not as great as the U.S. says it is and there is so much B.B. talked it is hard to cut through it. Bottom line is the U.S. needs consumer spending and consumer confidence to get growth really moving. All the talk about the weather…big fecking whoopee!! If the U.S. economy was moving forward we would not still be wasting time panicking about Q1 GDP when we are about to start Q3!\r\nUltimately, I do see that because of two different monetary policies operated by the central banks (FED &amp; ECB), this pair will fall. For now however, I see the immediate range as 1.3510 to 1.3750.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.7023</strong>. Basically unchanged in the past week, so the cable is consolidating above 1.7000 for now. Carney the HAWK was Carney the WET FISH during the week with the MPC review. This pair has a range of 1.6950 to 1.7060.\r\n\r\n<strong>AUD/USD: Closing Price 0.9415</strong>. A little higher this week over last weeks close at 0.9387. Given that we have an RBA statement early hours for me Tuesday morning, it will be interesting to hear what words of wisdom Glenn Stevens has for us this month. If you recall when the AUD/USD was at 0.9000 he was calling for the exchange rate to be more like 0.8500. It’s risen about 4% since that call for it to go lower. So what will Mr. Stevens say on Tuesday morning? Only the good lord knows at the moment. The range is quite tight 0.9350 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8777</strong>. The most over-valued currency pair on the planet in my opinion marches onwards and upwards. I am still short, and I keep adding at highs, when this baby drops Champagne is on me!!\r\nThe top of the range, all time highs are at 0.8880 and it may well be that we have to touch here before falling back. I am adjusting all my stops accordingly. However, I would not rule out “Wheeler the Dealer” directly intervening, he must be having sleepless nights over the NZD strength across the board. He never ruled this out as a way to control the exchange rate.\r\nThis guy has to learn he cannot raise interest rates and then complain that the exchange rate is too high. It just does not work that way. Verbal intervention fools no one these days. The range is really from 0.8720 up to 0.8880.\r\n\r\n<strong>USD/CAD: Closing Price 1.0661.</strong> A nice move is happening with the Cad and it’s crosses. We have fallen through key support at 1.0715 and are now zooming in on 1.0650. We can go lower as long as Oil prices are elevated. The range that interests me is 1.0585 to 1.0740.\r\n\r\n<strong>USD/CHF: Closing Price 0.8905</strong>. Even though we are sitting on support at 0.8910. Boring, boring…not interested in this pair unless the EUR/USD nose-dives below 1.3550. The range is 0.8850 to 0.8960.\r\n\r\n<strong>USD/JPY: Closing Price 101.39. </strong>This pair looks like it’s heading much lower once again. I am saying this after writing last week that I thought it was moving higher…! I am finding it very difficult to read JPY moves. The range that I am looking at is 101.15 to 101.85 / 102.15.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\nEUR/USD\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\nUSD/CAD\r\nUSD/CHF\r\nUSD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nAUD/CAD\r\nEUR/CAD\r\nGBP/CAD\r\nEUR/AUD\r\nGBP/AUD\r\nEUR/CHF\r\nAUD/NZD\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: NZD – Business Confidence.\r\n\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – HSBC Final Manufacturing PMI.\r\n\r\nTUESDAY: AUD – RBA Interest Rate Statement.\r\nTUESDAY: USD – ISM Manufacturing PMi.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – FED Yellen speaks.\r\nWEDNESDAY: AUD – RBA Stevens speaks.\r\nWEDNESDAY: CNY – Non-Manufacturing PMi.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: EUR – Interest Rate decision and Press Conference.\r\nTHURSDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nThe double whammy happens on Thursday; Non-Farm payrolls from the U.S. and Draghi’s ECB Press Conference. Other big news events are early Tuesday morning for me the RBA rate / policy statement. Will Glenn Stevens talk down the Aussie?\r\n\r\nUp until these events, I would say that we might just drift towards Thursday’s news, but in the background I would also imagine that many U.S. traders would be on vacation around the July 4th holidays. In addition we still have World Cup fever in play. So, in reality although it may look like a double whammy on the surface there may be outside influencing factors that could make these events less market moving than normal.\r\n\r\nTherefore, keep your TRADING DISCIPLINE high…do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nKeep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday June 28th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','THE FED & BOE versus BOJ, SNB and ECB','','inherit','open','closed','','3963-revision-v1','','','2014-06-28 05:53:49','2014-06-28 10:53:49','',3963,'https://weeklyfxdrivethru.com/3963-revision-v1/',0,'revision','',0),(3974,1,'2014-06-28 06:17:21','2014-06-28 11:17:21','<strong>1. INTRODUCTION:</strong>\r\n\r\nWorld Cup fever has been slowing already slow Forex markets, and, I think we are now entering the summer doldrums. Our trading ranges are being well defined, the extremes created by false breakouts or false breakdowns are getting very familiar. So face the facts, we need to get our summer trading brains into position. For PREMIUM SERVICE subscribers, in the TRADER TOPIC section this week I have written an article called “Tips in adjusting to the Forex market when there is low volatility”, and when combined with last weeks article “Are you forcing trades?”, these two articles will give you my thoughts to add to your own on dealing with and managing summer trading.\r\n\r\nOver the past week, we saw Carney backtrack and fumble his way rather unconvincingly through his session in front of the UK Parliamentary Select Committee that he reports to. Not as much a HAWK when somebody asks him a question and places him on the spot was he?\r\n\r\nWe had “Jim (I want to make a name for myself on TV) Bullard” the St Louis FED president, come out across the media on Thursday and state that he sees interest rates rises in the U.S. Q1 2015 for definite… This had the desired effect on the markets, nice bit of volatility, which I missed through connectivity issues. Thankfully we have stops to protect us in such unforeseen events, should they occur. As usual, what was taken away was given back, within 24 hours.\r\n\r\nThe big news for me was the poor U.S. GDP data. On the third reading (Holy Mother of God…three readings), it was revised further on the negative side from -1.0% to -2.9%.\r\n\r\nDid it affect equities? Not as much as I thought it would. As you know for the children on Wall Street, “Good news is good news and bad news in good news”. However, the effects of this revision created a stir with regards to all market makers revising their own calculations. Being my usual cynical self, all they do is just amended the actual and amended their targets for 2014 so that their numbers balance.\r\n\r\nWall Street is a numbers game supported by the FED. When you look at the indices charts we are looking at very exhausted formations. I read last week that the biggest buyers of stock on Wall Street at the moment are companies buying back their own stock to improve their EPS. Top line sales are just not there because spending is not happening and with fuel and food prices on the up and up, wages on the down and down (in real terms) who is spending?\r\n\r\nCompanies are not hiring, there is no real demand therefore to “dress up” performance and balance sheets so they are using cash reserves to buy stock to show an improving EPS. Next are redundancies to keep the balance sheets looking good? All is not good economically in the U.S. despite what you hear.\r\n\r\nThe largest spender in the world needs disposable income to spend…increasing food and fuel prices are stealth (hidden) taxes that hit almost everyone immediately to everyone rich or poor.\r\n\r\nThere are interesting times ahead, given the change in FED monetary policy, never mind issues with the BOJ and BOE, and then the ECB is a whole other matter.\r\n\r\nThe PREMIUM SERVICE has 13 open and live trades in play at the moment, with no limit orders in the background. Many more than I thought that there would be, most of them are in real terms longer FUNDAMENTAL style trades.\r\n\r\nI am watching a lot of RED on my screens, as most of my trades are negative. They are mostly very small positions but they are negative all the same. I took these trades on the basis knowing that they could reverse but my positions are small and I am well within my RISK MANAGEMENT parameters within my TRADING PLAN. If I add to my existing positions, which, I knew that I might have to do, they will be profitable very quickly on a momentum move. I can also half trades to reduce risk. I have several options but I am not at this stage concerned. My FUNDAMENTAL views have me in these trades the way that they are.\r\n\r\nThe PREMIUM SERVICE is still adding $$$ each month. I am very, very happy about this and at the end of this month I will be sending out a half-year summary about the performance over the social networks.\r\n\r\nHere’s an incentive - if you open an account with one of my approved brokers I can obtain a trading bonus for you and depending upon the size of your initial deposit the bonus could pay for a 12 months subscription to the PREMIUM SERVICE and give you cash back. Based on the performance so far, with just 50% of the year gone, you would see a handsome profit. That It is a convincing argument.\r\n\r\nWhy not open a separate account with me and try it?\r\n\r\nFinally, with regards to the PREMIUM SERVICE the 4-week trial special offer has ended. This really placed so much more administration time into my day it took sales time away. I doubt I will re-introduce it so 10 weeks will be the minimum option at $150.00. All details on the PREMIUM SERVICE can be found on the welcome page of the WEEKLY FX DRIVE THRU at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> at the top of the page.\r\n\r\nIf any of you have questions about the PREMIUM SERVICE please contact me at drivethru@weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n\r\n<strong>2. THE VIEW FROM MY TRADING DESK:</strong>\r\n\r\n<strong>THE FED &amp; BOE versus BOJ, SNB and ECB</strong>\r\n\r\nFollowing on from my article regarding the celebrity status of the Central bank governors around the world, I give you part II.\r\n\r\nFor all those people who defended Mario Draghi with emails, tweets and LinkedIn comments to me over the past 7 days…let me re-iterate my view, which, has NOT changed. He is a puppet from Berlin and quite frankly his performance at best in mediocre, the ECB has failed the people of the Eurozone in dramatic style. To say that he is independent of political influence is total bulls**t and 100% total crap. The Eurozone epitomizes dithering, indecision and inept management. These views I just cannot see changing. How people can defend a central bank that sets out forward guidance and then constantly revise data and move the goal posts to meet these forward guidance objectives, is best at any stretch of the imagination…poor.\r\n\r\nMoving on from the pleasantries….\r\n\r\n(Later in this article, I am going to give a TRADING TIP (SET-UP) to all readers whether PREMIUM SERVICE or FREE NEWSLETTER SUBSCRIBERS).\r\n\r\nWe now enter a very interesting period in Forex trading. The Currency manipulators are changing sentiment.\r\n\r\nCentral banks that were basically aligned in 2008-2009 are now going their own ways after dealing with the fallout of the financial crash in their own way. Monetary policy decisions are changing across the board and we have to take notice as this will effect out trades in the short and medium terms. Being a FUNDAMENTAL trader first then technical this is the sort of news I love. Irrespective of what type of trader you are this now going to affect all of us.\r\n\r\nAll we have heard of for years is “easing”, “accommodative”, “firmly anchored” and “for an extended period of time”. It’s changing.\r\n\r\nThe current major players in currency manipulation at the moment are: -\r\n\r\n<span style=\"text-decoration: underline;\">FED:</span>\r\n\r\nThe FED started the ball rolling with the word of 2013 “Tapering”. Each month the amount of support to markets provided by the FED has been reducing by $10 billion per month. It now stands at $45 billion per month down from original $85 billion.\r\n\r\n<span style=\"text-decoration: underline;\">BOE:</span>\r\n\r\nThe UK still has an Asset Purchasing Facility in place to purchase “Gilts” of £375 million.\r\n\r\n<span style=\"text-decoration: underline;\">BOJ:</span>\r\n\r\nLast year (April 2013) the BOJ committed to $1.4 trillion of quantitative easing through the Japanese economy inside two years.\r\n\r\n<span style=\"text-decoration: underline;\">ECB:</span>\r\n\r\nIt still has in place, I think, the OMT (Outright Monetary Transactions), it did not use this tool when it was announced.\r\nThe ECB introduced LTRO (Long Term Refinancing Operations), which I believe are now completed.\r\nEarlier this month it introduced negative deposit rates for banks wanting to deposit overnight funds. Full-blown Quantitative easing is apparently an option and not yet ruled out and there are more initiatives to come.\r\n\r\n<span style=\"text-decoration: underline;\">SNB:</span>\r\n\r\nIt has in place a floor limit on the EUR/CHF pair at 1.2000. Due to it’s proximity and ‘safe –haven” status. The SNB is an interesting party to the currency manipulation in play currently operated by the central banks. It is direct and openly known to all markets. There is 100% clarity in what is going on and where the limits lie.\r\n\r\nIn the past 14 days we have heard the following: -\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE GREEN CORNER</strong></span>\r\n\r\nMark Carney from the Bank Of England, in his annual Mansion House speech alerted the markets that they are underestimating economic matters as interest rates in the UK will be rising much faster than they think. This prompted GBP buying. Subsequently, he fumbled at the MPC session that he took questions at stating that rates would be very staggered over basically an extended period of time. Recent financial reviews that I have read are expecting the first rate hike Q4 2014 that is this year!\r\n\r\nJim Bullard, the St Louis FED president said a few days ago that interest rates would be rising in the U.S. Q1 2015. This sits nicely with what Ben Bernake stated just before he left the FED stating that tapering would run out 2014, leaving the door open for gradual rate increases.\r\n\r\nand\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE RED CORNER</strong></span>\r\n\r\nShinzo Abe, the Japanese Prime Minister talked about his 3<sup>rd</sup> arrow (stimulus talk). I would say he is sweating bullets at the moment because in spite of massive stimulus his attempts to revive the Japanese economy could be at risk of failure. Like the USA consumer spending is a problem. This is a key driver to a growing economy. The Nikkei is down this year by 6% after a 60% rise last year. The USD/JPY is up 3% this year when last year the JPY weakened against the USD by 21%.\r\nMore stimulus / more easing is on it’s way.\r\n\r\nThe ECB through Mario Draghi is easing. Whichever way you slice it, the ECB is on a policy of continued and increasing easing. Draghi almost re-iterated his 2012 call of “Whatever it takes”.\r\n\r\nThe SNB has said through governor Jordan that it will react to the ECB stimulus policies to protect the CHF currency.\r\n\r\n&nbsp;\r\n\r\nTherefore, we have two central banks moving away from accommodative policies and three continuing and probably adding to what it already has in place.\r\n\r\nFrom a traders perspective this should only lead to two words...”HAPPY DAYS”. We should also get momentum and direction across certain pairs.\r\n\r\nI mentioned at the beginning of this article I have a trade set-up to consider. It is the EUR/GBP short.\r\n\r\nThis pair is a compelling trade from my perspective. The Eurozone is easing and the UK is hiking rates, this monetary policy divergence places the EUR/GBP at real risk of a major downside move.\r\n\r\nThe chart below shows my downside objectives of 0.7800 and hopefully in the very long term 0.7400.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3959\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014-1024x464.png\" alt=\"EURGBP MONTHLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\nThere are other pairs that jump out as well with this change in policy. These will be delivered only to subscribers of the PREMIUM SERVICE.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3648.</strong> We have moved upwards by about 50 pips over last weeks close. My bias is to the downside given all the fundamentals surrounding the single currency, but it is just as much about the USD as it is about the EUR. The U.S. economy is not as great as the U.S. says it is and there is so much B.B. talked it is hard to cut through it. Bottom line is the U.S. needs consumer spending and consumer confidence to get growth really moving. All the talk about the weather…big fecking whoopee!! If the U.S. economy was moving forward we would not still be wasting time panicking about Q1 GDP when we are about to start Q3!\r\nUltimately, I do see that because of two different monetary policies operated by the central banks (FED &amp; ECB), this pair will fall. For now however, I see the immediate range as 1.3510 to 1.3750.\r\n\r\n<strong>GBP/USD: Closing Price 1.7023</strong>. Basically unchanged in the past week, so the cable is consolidating above 1.7000 for now. Carney the HAWK was Carney the WET FISH during the week with the MPC review. This pair has a range of 1.6950 to 1.7060.\r\n\r\n<strong>AUD/USD: Closing Price 0.9415</strong>. A little higher this week over last weeks close at 0.9387. Given that we have an RBA statement early hours for me Tuesday morning, it will be interesting to hear what words of wisdom Glenn Stevens has for us this month. If you recall when the AUD/USD was at 0.9000 he was calling for the exchange rate to be more like 0.8500. It’s risen about 4% since that call for it to go lower. So what will Mr. Stevens say on Tuesday morning? Only the good lord knows at the moment. The range is quite tight 0.9350 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8777</strong>. The most over-valued currency pair on the planet in my opinion marches onwards and upwards. I am still short, and I keep adding at highs, when this baby drops Champagne is on me!!\r\nThe top of the range, all time highs are at 0.8880 and it may well be that we have to touch here before falling back. I am adjusting all my stops accordingly. However, I would not rule out “Wheeler the Dealer” directly intervening, he must be having sleepless nights over the NZD strength across the board. He never ruled this out as a way to control the exchange rate.\r\nThis guy has to learn he cannot raise interest rates and then complain that the exchange rate is too high. It just does not work that way. Verbal intervention fools no one these days. The range is really from 0.8720 up to 0.8880.<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.0661.</strong> A nice move is happening with the Cad and it’s crosses. We have fallen through key support at 1.0715 and are now zooming in on 1.0650. We can go lower as long as Oil prices are elevated. The range that interests me is 1.0585 to 1.0740.\r\n\r\n<strong>USD/CHF: Closing Price 0.8905</strong>. Even though we are sitting on support at 0.8910. Boring, boring…not interested in this pair unless the EUR/USD nose-dives below 1.3550. The range is 0.8850 to 0.8960.\r\n\r\n<strong>USD/JPY: Closing Price 101.39. </strong>This pair looks like it’s heading much lower once again. I am saying this after writing last week that I thought it was moving higher…!\r\n\r\nI am finding it very difficult to read JPY moves. The range that I am looking at is 101.15 to 101.85 / 102.15.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: NZD – Business Confidence.\r\n\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – HSBC Final Manufacturing PMI.\r\n\r\nTUESDAY: AUD – RBA Interest Rate Statement.\r\nTUESDAY: USD – ISM Manufacturing PMi.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – FED Yellen speaks.\r\nWEDNESDAY: AUD – RBA Stevens speaks.\r\nWEDNESDAY: CNY – Non-Manufacturing PMi.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: EUR – Interest Rate decision and Press Conference.\r\nTHURSDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. THE PREMIUM SERVICE:</strong>\r\n\r\nI refer quite a bit in my blog about the PREMIUM SERVICE. As I am always having new readers I thought it may be of value just to highlight one or two points relating to the PREMIUM SERVICE.\r\n\r\nThis is a subscription membership with exclusive content for subscribers, both on the website and daily by way of an exclusive twitter feed and a morning news letter THE DAILY FX POST that is posted to the PREMIUM SERVICE section of my website. If this something that interests you, I just want to also mention that the $20.00 four week trial subscription offer will end shortly. I have no plans to re-introduce this again this year.\r\n\r\nIf you want an alternative view on the Forex Market or just someone else’s thoughts to bounce off your own, maybe it’s worth a look. Introductory special offers are available from time to time, it maybe the best small investment you make this year.\r\n\r\nFor more information about the PREMIUM SERVICE check out the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> situated on the top of the page there are a number of drop down menus that contain all the things required to join.<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JUNE 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE. I also show you the year-to-date performance by trade style.\r\n\r\nThere is a lot to data to absorb, if you have queries just email me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\"><img class=\"aligncenter size-full wp-image-3964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\" alt=\"PREM SERV PROFITS 1 28062014\" width=\"445\" height=\"423\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\"><img class=\"aligncenter size-full wp-image-3965\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\" alt=\"PREM SERV PROFITS2 28062014\" width=\"456\" height=\"416\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nIn order to provide you with more information and clarification, so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. FINAL THOUGHTS:</strong>\r\n\r\nThe double whammy happens on Thursday; Non-Farm payrolls from the U.S. and Draghi’s ECB Press Conference. Other big news events are early Tuesday morning for me the RBA rate / policy statement. Will Glenn Stevens talk down the Aussie?\r\n\r\nUp until these events, I would say that we might just drift towards Thursday’s news, but in the background I would also imagine that many U.S. traders would be on vacation around the July 4th holidays. In addition we still have World Cup fever in play. So, in reality although it may look like a double whammy on the surface there may be outside influencing factors that could make these events less market moving than normal.\r\n\r\nTherefore, keep your TRADING DISCIPLINE high…do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nKeep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday June 28th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\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> </strong>\r\n\r\n<strong> </strong>','THE FED & BOE versus BOJ, SNB and ECB','','publish','open','closed','','fed-boe-versus-boj-snb-ecb','','','2014-06-28 06:28:42','2014-06-28 11:28:42','',0,'https://weeklyfxdrivethru.com/?p=3974',0,'post','',0),(3975,1,'2014-06-28 06:15:49','2014-06-28 11:15:49','<strong>1. INTRODUCTION:</strong>\r\n\r\nWorld Cup fever has been slowing already slow Forex markets, and, I think we are now entering the summer doldrums. Our trading ranges are being well defined, the extremes created by false breakouts or false breakdowns are getting very familiar. So face the facts, we need to get our summer trading brains into position. For PREMIUM SERTVICE subscribers, in the TRADER TOPIC section this week I have written an article called “Tips in adjusting to the Forex market when there is low volatility”, and when combined with last weeks article “Are you forcing trades?”, these two articles will give you my thoughts to add to your own on dealing with and managing summer trading.\r\n\r\nOver the past week, we saw Carney backtrack and fumble his way rather unconvincingly through his session in front of the UK Parliamentary Select Committee that he reports to. Not as much a HAWK when somebody asks him a question and places him on the spot was he?\r\n\r\nWe had “Jim (I want to make a name for myself on TV) Bullard” the St Louis FED president, come out across the media on Thursday and state that he sees interest rates rises in the U.S. Q1 2015 for definite… This had the desired effect on the markets, nice bit of volatility, which I missed through connectivity issues. Thankfully we have stops to protect us in such unforeseen events, should they occur. As usual, what was taken away was given back, within 24 hours.\r\n\r\nThe big news for me was the poor U.S. GDP data. On the third reading (Holy Mother of God…three readings), it was revised further on the negative side from -1.0% to -2.9%.\r\n\r\nDid it affect equities? Not as much as I thought it would. As you know for the children on Wall Street, “Good news is good news and bad news in good news”. However, the effects of this revision created a stir with regards to all market makers revising their own calculations. Being my usual cynical self, all they do is just amended the actual and amended their targets for 2014 so that their numbers balance.\r\n\r\nWall Street is a numbers game supported by the FED. When you look at the indices charts we are looking at very exhausted formations. I read last week that the biggest buyers of stock on Wall Street at the moment are companies buying back their own stock to improve their EPS. Top line sales are just not there because spending is not happening and with fuel and food prices on the up and up, wages on the down and down (in real terms) who is spending?\r\n\r\nCompanies are not hiring, there is no real demand therefor to “dress up” performance and balance sheets so they are using cash reserves to buy stock to show an improving EFP. Next are redundancies to keep the balance sheets looking good? All is not good economically in the U.S. despite what you hear.\r\n\r\nThe largest spender in the world needs disposable income to spend…increasing food and fuel prices are stealth (hidden) taxes that hit almost everyone immediately to everyone rich or poor.\r\n\r\nThere are interesting times ahead, given the change in FED monetary policy, never mind issues with the BOJ and BOE, and then the ECB is a whole other matter.\r\n\r\nThe PREMIUM SERVICE has 13 open and live trades in play at the moment, with no limit orders in the background. Many more than I thought that there would be, most of them are in real terms longer FUNDAMENTAL style trades.\r\n\r\nI am watching a lot of RED on my screens, as most of my trades are negative. They are mostly very small positions but they are negative all the same. I took these trades on the basis knowing that they could reverse but my positions are small and I am well within my RISK MANAGEMENT parameters within my TRADING PLAN. If I add to my existing positions, which, I knew that I might have to do, they will be profitable very quickly on a momentum move. I can also half trades to reduce risk. I have several options but I am not at this stage concerned. My FUNDAMENTAL views have me in these trades the way that they are.\r\n\r\nThe PREMIUM SERVICE is still adding $$$ each month. I am very, very happy about this and at the end of this month I will be sending out a half-year summary about the performance over the social networks.\r\n\r\nHere’s an incentive - if you open an account with one of my approved brokers I can obtain a trading bonus for you and depending upon the size of your initial deposit the bonus could pay for a 12 months subscription to the PREMIUM SERVICE and give you cash back. Based on the performance so far, with just 50% of the year gone, you would see a handsome profit. That It is a convincing argument.\r\n\r\nWhy not open a separate account with me and try it?\r\n\r\nFinally, with regards to the PREMIUM SERVICE the 4-week trial special offer has ended. This really placed so much more administration time into my day it took sales time away. I doubt I will re-introduce it so 10 weeks will be the minimum option at $150.00. All details on the PREMIUM SERVICE can be found on the welcome page of the WEEKLY FX DRIVE THRU at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> at the top of the page.\r\n\r\nIf any of you have questions about the PREMIUM SERVICE please contact me at drivethru@weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n\r\n<strong>2. THE VIEW FROM MY TRADING DESK:</strong>\r\n\r\n<strong>THE FED &amp; BOE versus BOJ, SNB and ECB</strong>\r\n\r\nFollowing on from my article regarding the celebrity status of the Central bank governors around the world, I give you part II.\r\n\r\nFor all those people who defended Mario Draghi with emails, tweets and LinkedIn comments to me over the past 7 days…let me re-iterate my view, which, has NOT changed. He is a puppet from Berlin and quite frankly his performance at best in mediocre, the ECB has failed the people of the Eurozone in dramatic style. To say that he is independent of political influence is total bulls**t and 100% total crap. The Eurozone epitomizes dithering, indecision and inept management. These views I just cannot see changing. How people can defend a central bank that sets out forward guidance and then constantly revise data and move the goal posts to meet these forward guidance objectives, is best at any stretch of the imagination…poor.\r\n\r\nMoving on from the pleasantries….\r\n\r\n(Later in this article, I am going to give a TRADING TIP (SET-UP) to all readers whether PREMIUM SERVICE or FREE NEWSLETTER SUBSCRIBERS).\r\n\r\nWe now enter a very interesting period in Forex trading. The Currency manipulators are changing sentiment.\r\n\r\nCentral banks that were basically aligned in 2008-2009 are now going their own ways after dealing with the fallout of the financial crash in their own way. Monetary policy decisions are changing across the board and we have to take notice as this will effect out trades in the short and medium terms. Being a FUNDAMENTAL trader first then technical this is the sort of news I love. Irrespective of what type of trader you are this now going to affect all of us.\r\n\r\nAll we have heard of for years is “easing”, “accommodative”, “firmly anchored” and “for an extended period of time”. It’s changing.\r\n\r\nThe current major players in currency manipulation at the moment are: -\r\n\r\n<span style=\"text-decoration: underline;\">FED:</span>\r\n\r\nThe FED started the ball rolling with the word of 2013 “Tapering”. Each month the amount of support to markets provided by the FED has been reducing by $10 billion per month. It now stands at $45 billion per month down from original $85 billion.\r\n\r\n<span style=\"text-decoration: underline;\">BOE:</span>\r\n\r\nThe UK still has an Asset Purchasing Facility in place to purchase “Gilts” of £375 million.\r\n\r\n<span style=\"text-decoration: underline;\">BOJ:</span>\r\n\r\nLast year (April 2013) the BOJ committed to $1.4 trillion of quantitative easing through the Japanese economy inside two years.\r\n\r\n<span style=\"text-decoration: underline;\">ECB:</span>\r\n\r\nIt still has in place, I think, the OMT (Outright Monetary Transactions), it did not use this tool when it was announced.\r\nThe ECB introduced LTRO (Long Term Refinancing Operations), which I believe are now completed.\r\nEarlier this month it introduced negative deposit rates for banks wanting to deposit overnight funds. Full-blown Quantitative easing is apparently an option and not yet ruled out and there are more initiatives to come.\r\n\r\n<span style=\"text-decoration: underline;\">SNB:</span>\r\n\r\nIt has in place a floor limit on the EUR/CHF pair at 1.2000. Due to it’s proximity and ‘safe –haven” status. The SNB is an interesting party to the currency manipulation in play currently operated by the central banks. It is direct and openly known to all markets. There is 100% clarity in what is going on and where the limits lie.\r\n\r\nIn the past 14 days we have heard the following: -\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE GREEN CORNER</strong></span>\r\n\r\nMark Carney from the Bank Of England, in his annual Mansion House speech alerted the markets that they are underestimating economic matters as interest rates in the UK will be rising much faster than they think. This prompted GBP buying. Subsequently, he fumbled at the MPC session that he took questions at stating that rates would be very staggered over basically an extended period of time. Recent financial reviews that I have read are expecting the first rate hike Q4 2014 that is this year!\r\n\r\nJim Bullard, the St Louis FED president said a few days ago that interest rates would be rising in the U.S. Q1 2015. This sits nicely with what Ben Bernake stated just before he left the FED stating that tapering would run out 2014, leaving the door open for gradual rate increases.\r\n\r\nand\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE RED CORNER</strong></span>\r\n\r\nShinzo Abe, the Japanese Prime Minister talked about his 3<sup>rd</sup> arrow (stimulus talk). I would say he is sweating bullets at the moment because in spite of massive stimulus his attempts to revive the Japanese economy could be at risk of failure. Like the USA consumer spending is a problem. This is a key driver to a growing economy. The Nikkei is down this year by 6% after a 60% rise last year. The USD/JPY is up 3% this year when last year the JPY weakened against the USD by 21%.\r\nMore stimulus / more easing is on it’s way.\r\n\r\nThe ECB through Mario Draghi is easing. Whichever way you slice it, the ECB is on a policy of continued and increasing easing. Draghi almost re-iterated his 2012 call of “Whatever it takes”.\r\n\r\nThe SNB has said through governor Jordan that it will react to the ECB stimulus policies to protect the CHF currency.\r\n\r\n&nbsp;\r\n\r\nTherefore, we have two central banks moving away from accommodative policies and three continuing and probably adding to what it already has in place.\r\n\r\nFrom a traders perspective this should only lead to two words...”HAPPY DAYS”. We should also get momentum and direction across certain pairs.\r\n\r\nI mentioned at the beginning of this article I have a trade set-up to consider. It is the EUR/GBP short.\r\n\r\nThis pair is a compelling trade from my perspective. The Eurozone is easing and the UK is hiking rates, this monetary policy divergence places the EUR/GBP at real risk of a major downside move.\r\n\r\nThe chart below shows my downside objectives of 0.7800 and hopefully in the very long term 0.7400.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3959\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014-1024x464.png\" alt=\"EURGBP MONTHLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\nThere are other pairs that jump out as well with this change in policy. These will be delivered only to subscribers of the PREMIUM SERVICE.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3648.</strong> We have moved upwards by about 50 pips over last weeks close. My bias is to the downside given all the fundamentals surrounding the single currency, but it is just as much about the USD as it is about the EUR. The U.S. economy is not as great as the U.S. says it is and there is so much B.B. talked it is hard to cut through it. Bottom line is the U.S. needs consumer spending and consumer confidence to get growth really moving. All the talk about the weather…big fecking whoopee!! If the U.S. economy was moving forward we would not still be wasting time panicking about Q1 GDP when we are about to start Q3!\r\nUltimately, I do see that because of two different monetary policies operated by the central banks (FED &amp; ECB), this pair will fall. For now however, I see the immediate range as 1.3510 to 1.3750.\r\n\r\n<strong>GBP/USD: Closing Price 1.7023</strong>. Basically unchanged in the past week, so the cable is consolidating above 1.7000 for now. Carney the HAWK was Carney the WET FISH during the week with the MPC review. This pair has a range of 1.6950 to 1.7060.\r\n\r\n<strong>AUD/USD: Closing Price 0.9415</strong>. A little higher this week over last weeks close at 0.9387. Given that we have an RBA statement early hours for me Tuesday morning, it will be interesting to hear what words of wisdom Glenn Stevens has for us this month. If you recall when the AUD/USD was at 0.9000 he was calling for the exchange rate to be more like 0.8500. It’s risen about 4% since that call for it to go lower. So what will Mr. Stevens say on Tuesday morning? Only the good lord knows at the moment. The range is quite tight 0.9350 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8777</strong>. The most over-valued currency pair on the planet in my opinion marches onwards and upwards. I am still short, and I keep adding at highs, when this baby drops Champagne is on me!!\r\nThe top of the range, all time highs are at 0.8880 and it may well be that we have to touch here before falling back. I am adjusting all my stops accordingly. However, I would not rule out “Wheeler the Dealer” directly intervening, he must be having sleepless nights over the NZD strength across the board. He never ruled this out as a way to control the exchange rate.\r\nThis guy has to learn he cannot raise interest rates and then complain that the exchange rate is too high. It just does not work that way. Verbal intervention fools no one these days. The range is really from 0.8720 up to 0.8880.<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.0661.</strong> A nice move is happening with the Cad and it’s crosses. We have fallen through key support at 1.0715 and are now zooming in on 1.0650. We can go lower as long as Oil prices are elevated. The range that interests me is 1.0585 to 1.0740.\r\n\r\n<strong>USD/CHF: Closing Price 0.8905</strong>. Even though we are sitting on support at 0.8910. Boring, boring…not interested in this pair unless the EUR/USD nose-dives below 1.3550. The range is 0.8850 to 0.8960.\r\n\r\n<strong>USD/JPY: Closing Price 101.39. </strong>This pair looks like it’s heading much lower once again. I am saying this after writing last week that I thought it was moving higher…!\r\n\r\nI am finding it very difficult to read JPY moves. The range that I am looking at is 101.15 to 101.85 / 102.15.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: NZD – Business Confidence.\r\n\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – HSBC Final Manufacturing PMI.\r\n\r\n&nbsp;\r\n\r\nTUESDAY: AUD – RBA Interest Rate Statement.\r\nTUESDAY: USD – ISM Manufacturing PMi.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – FED Yellen speaks.\r\nWEDNESDAY: AUD – RBA Stevens speaks.\r\nWEDNESDAY: CNY – Non-Manufacturing PMi.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: EUR – Interest Rate decision and Press Conference.\r\nTHURSDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. THE PREMIUM SERVICE:</strong>\r\n\r\nI refer quite a bit in my blog about the PREMIUM SERVICE. As I am always having new readers I thought it may be of value just to highlight one or two points relating to the PREMIUM SERVICE.\r\n\r\nThis is a subscription membership with exclusive content for subscribers, both on the website and daily by way of an exclusive twitter feed and a morning news letter THE DAILY FX POST that is posted to the PREMIUM SERVICE section of my website. If this something that interests you, I just want to also mention that the $20.00 four week trial subscription offer will end shortly. I have no plans to re-introduce this again this year.\r\n\r\nIf you want an alternative view on the Forex Market or just someone else’s thoughts to bounce off your own, maybe it’s worth a look. Introductory special offers are available from time to time, it maybe the best small investment you make this year.\r\n\r\nFor more information about the PREMIUM SERVICE check out the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> situated on the top of the page there are a number of drop down menus that contain all the things required to join.<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JUNE 2014 and YEAR to date:</strong></p>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE. I also show you the year-to-date performance by trade style.\r\n\r\nThere is a lot to data to absorb, if you have queries just email me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\"><img class=\"aligncenter size-full wp-image-3964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\" alt=\"PREM SERV PROFITS 1 28062014\" width=\"445\" height=\"423\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\"><img class=\"aligncenter size-full wp-image-3965\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\" alt=\"PREM SERV PROFITS2 28062014\" width=\"456\" height=\"416\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nIn order to provide you with more information and clarification, so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. FINAL THOUGHTS:</strong>\r\n\r\nThe double whammy happens on Thursday; Non-Farm payrolls from the U.S. and Draghi’s ECB Press Conference. Other big news events are early Tuesday morning for me the RBA rate / policy statement. Will Glenn Stevens talk down the Aussie?\r\n\r\nUp until these events, I would say that we might just drift towards Thursday’s news, but in the background I would also imagine that many U.S. traders would be on vacation around the July 4th holidays. In addition we still have World Cup fever in play. So, in reality althoughit may look like a double whammy on the surface there may be outside influencing factors that could make these events less market moving than normal.\r\n\r\nTherefore, keep your TRADING DISCIPLINE high…do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nKeep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday June 28th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\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> </strong>\r\n\r\n<strong> </strong>','THE FED & BOE versus BOJ, SNB and ECB','','inherit','open','closed','','3974-revision-v1','','','2014-06-28 06:15:49','2014-06-28 11:15:49','',3974,'https://weeklyfxdrivethru.com/3974-revision-v1/',0,'revision','',0),(3976,1,'2014-06-28 06:17:07','2014-06-28 11:17:07','<strong>1. INTRODUCTION:</strong>\r\n\r\nWorld Cup fever has been slowing already slow Forex markets, and, I think we are now entering the summer doldrums. Our trading ranges are being well defined, the extremes created by false breakouts or false breakdowns are getting very familiar. So face the facts, we need to get our summer trading brains into position. For PREMIUM SERVICE subscribers, in the TRADER TOPIC section this week I have written an article called “Tips in adjusting to the Forex market when there is low volatility”, and when combined with last weeks article “Are you forcing trades?”, these two articles will give you my thoughts to add to your own on dealing with and managing summer trading.\r\n\r\nOver the past week, we saw Carney backtrack and fumble his way rather unconvincingly through his session in front of the UK Parliamentary Select Committee that he reports to. Not as much a HAWK when somebody asks him a question and places him on the spot was he?\r\n\r\nWe had “Jim (I want to make a name for myself on TV) Bullard” the St Louis FED president, come out across the media on Thursday and state that he sees interest rates rises in the U.S. Q1 2015 for definite… This had the desired effect on the markets, nice bit of volatility, which I missed through connectivity issues. Thankfully we have stops to protect us in such unforeseen events, should they occur. As usual, what was taken away was given back, within 24 hours.\r\n\r\nThe big news for me was the poor U.S. GDP data. On the third reading (Holy Mother of God…three readings), it was revised further on the negative side from -1.0% to -2.9%.\r\n\r\nDid it affect equities? Not as much as I thought it would. As you know for the children on Wall Street, “Good news is good news and bad news in good news”. However, the effects of this revision created a stir with regards to all market makers revising their own calculations. Being my usual cynical self, all they do is just amended the actual and amended their targets for 2014 so that their numbers balance.\r\n\r\nWall Street is a numbers game supported by the FED. When you look at the indices charts we are looking at very exhausted formations. I read last week that the biggest buyers of stock on Wall Street at the moment are companies buying back their own stock to improve their EPS. Top line sales are just not there because spending is not happening and with fuel and food prices on the up and up, wages on the down and down (in real terms) who is spending?\r\n\r\nCompanies are not hiring, there is no real demand therefore to “dress up” performance and balance sheets so they are using cash reserves to buy stock to show an improving EPS. Next are redundancies to keep the balance sheets looking good? All is not good economically in the U.S. despite what you hear.\r\n\r\nThe largest spender in the world needs disposable income to spend…increasing food and fuel prices are stealth (hidden) taxes that hit almost everyone immediately to everyone rich or poor.\r\n\r\nThere are interesting times ahead, given the change in FED monetary policy, never mind issues with the BOJ and BOE, and then the ECB is a whole other matter.\r\n\r\nThe PREMIUM SERVICE has 13 open and live trades in play at the moment, with no limit orders in the background. Many more than I thought that there would be, most of them are in real terms longer FUNDAMENTAL style trades.\r\n\r\nI am watching a lot of RED on my screens, as most of my trades are negative. They are mostly very small positions but they are negative all the same. I took these trades on the basis knowing that they could reverse but my positions are small and I am well within my RISK MANAGEMENT parameters within my TRADING PLAN. If I add to my existing positions, which, I knew that I might have to do, they will be profitable very quickly on a momentum move. I can also half trades to reduce risk. I have several options but I am not at this stage concerned. My FUNDAMENTAL views have me in these trades the way that they are.\r\n\r\nThe PREMIUM SERVICE is still adding $$$ each month. I am very, very happy about this and at the end of this month I will be sending out a half-year summary about the performance over the social networks.\r\n\r\nHere’s an incentive - if you open an account with one of my approved brokers I can obtain a trading bonus for you and depending upon the size of your initial deposit the bonus could pay for a 12 months subscription to the PREMIUM SERVICE and give you cash back. Based on the performance so far, with just 50% of the year gone, you would see a handsome profit. That It is a convincing argument.\r\n\r\nWhy not open a separate account with me and try it?\r\n\r\nFinally, with regards to the PREMIUM SERVICE the 4-week trial special offer has ended. This really placed so much more administration time into my day it took sales time away. I doubt I will re-introduce it so 10 weeks will be the minimum option at $150.00. All details on the PREMIUM SERVICE can be found on the welcome page of the WEEKLY FX DRIVE THRU at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> at the top of the page.\r\n\r\nIf any of you have questions about the PREMIUM SERVICE please contact me at drivethru@weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n\r\n<strong>2. THE VIEW FROM MY TRADING DESK:</strong>\r\n\r\n<strong>THE FED &amp; BOE versus BOJ, SNB and ECB</strong>\r\n\r\nFollowing on from my article regarding the celebrity status of the Central bank governors around the world, I give you part II.\r\n\r\nFor all those people who defended Mario Draghi with emails, tweets and LinkedIn comments to me over the past 7 days…let me re-iterate my view, which, has NOT changed. He is a puppet from Berlin and quite frankly his performance at best in mediocre, the ECB has failed the people of the Eurozone in dramatic style. To say that he is independent of political influence is total bulls**t and 100% total crap. The Eurozone epitomizes dithering, indecision and inept management. These views I just cannot see changing. How people can defend a central bank that sets out forward guidance and then constantly revise data and move the goal posts to meet these forward guidance objectives, is best at any stretch of the imagination…poor.\r\n\r\nMoving on from the pleasantries….\r\n\r\n(Later in this article, I am going to give a TRADING TIP (SET-UP) to all readers whether PREMIUM SERVICE or FREE NEWSLETTER SUBSCRIBERS).\r\n\r\nWe now enter a very interesting period in Forex trading. The Currency manipulators are changing sentiment.\r\n\r\nCentral banks that were basically aligned in 2008-2009 are now going their own ways after dealing with the fallout of the financial crash in their own way. Monetary policy decisions are changing across the board and we have to take notice as this will effect out trades in the short and medium terms. Being a FUNDAMENTAL trader first then technical this is the sort of news I love. Irrespective of what type of trader you are this now going to affect all of us.\r\n\r\nAll we have heard of for years is “easing”, “accommodative”, “firmly anchored” and “for an extended period of time”. It’s changing.\r\n\r\nThe current major players in currency manipulation at the moment are: -\r\n\r\n<span style=\"text-decoration: underline;\">FED:</span>\r\n\r\nThe FED started the ball rolling with the word of 2013 “Tapering”. Each month the amount of support to markets provided by the FED has been reducing by $10 billion per month. It now stands at $45 billion per month down from original $85 billion.\r\n\r\n<span style=\"text-decoration: underline;\">BOE:</span>\r\n\r\nThe UK still has an Asset Purchasing Facility in place to purchase “Gilts” of £375 million.\r\n\r\n<span style=\"text-decoration: underline;\">BOJ:</span>\r\n\r\nLast year (April 2013) the BOJ committed to $1.4 trillion of quantitative easing through the Japanese economy inside two years.\r\n\r\n<span style=\"text-decoration: underline;\">ECB:</span>\r\n\r\nIt still has in place, I think, the OMT (Outright Monetary Transactions), it did not use this tool when it was announced.\r\nThe ECB introduced LTRO (Long Term Refinancing Operations), which I believe are now completed.\r\nEarlier this month it introduced negative deposit rates for banks wanting to deposit overnight funds. Full-blown Quantitative easing is apparently an option and not yet ruled out and there are more initiatives to come.\r\n\r\n<span style=\"text-decoration: underline;\">SNB:</span>\r\n\r\nIt has in place a floor limit on the EUR/CHF pair at 1.2000. Due to it’s proximity and ‘safe –haven” status. The SNB is an interesting party to the currency manipulation in play currently operated by the central banks. It is direct and openly known to all markets. There is 100% clarity in what is going on and where the limits lie.\r\n\r\nIn the past 14 days we have heard the following: -\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE GREEN CORNER</strong></span>\r\n\r\nMark Carney from the Bank Of England, in his annual Mansion House speech alerted the markets that they are underestimating economic matters as interest rates in the UK will be rising much faster than they think. This prompted GBP buying. Subsequently, he fumbled at the MPC session that he took questions at stating that rates would be very staggered over basically an extended period of time. Recent financial reviews that I have read are expecting the first rate hike Q4 2014 that is this year!\r\n\r\nJim Bullard, the St Louis FED president said a few days ago that interest rates would be rising in the U.S. Q1 2015. This sits nicely with what Ben Bernake stated just before he left the FED stating that tapering would run out 2014, leaving the door open for gradual rate increases.\r\n\r\nand\r\n\r\n<span style=\"text-decoration: underline;\"><strong>IN THE RED CORNER</strong></span>\r\n\r\nShinzo Abe, the Japanese Prime Minister talked about his 3<sup>rd</sup> arrow (stimulus talk). I would say he is sweating bullets at the moment because in spite of massive stimulus his attempts to revive the Japanese economy could be at risk of failure. Like the USA consumer spending is a problem. This is a key driver to a growing economy. The Nikkei is down this year by 6% after a 60% rise last year. The USD/JPY is up 3% this year when last year the JPY weakened against the USD by 21%.\r\nMore stimulus / more easing is on it’s way.\r\n\r\nThe ECB through Mario Draghi is easing. Whichever way you slice it, the ECB is on a policy of continued and increasing easing. Draghi almost re-iterated his 2012 call of “Whatever it takes”.\r\n\r\nThe SNB has said through governor Jordan that it will react to the ECB stimulus policies to protect the CHF currency.\r\n\r\n&nbsp;\r\n\r\nTherefore, we have two central banks moving away from accommodative policies and three continuing and probably adding to what it already has in place.\r\n\r\nFrom a traders perspective this should only lead to two words...”HAPPY DAYS”. We should also get momentum and direction across certain pairs.\r\n\r\nI mentioned at the beginning of this article I have a trade set-up to consider. It is the EUR/GBP short.\r\n\r\nThis pair is a compelling trade from my perspective. The Eurozone is easing and the UK is hiking rates, this monetary policy divergence places the EUR/GBP at real risk of a major downside move.\r\n\r\nThe chart below shows my downside objectives of 0.7800 and hopefully in the very long term 0.7400.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014.png\"><img class=\"aligncenter size-large wp-image-3959\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURGBP-MONTHLY-28062014-1024x464.png\" alt=\"EURGBP MONTHLY 28062014\" width=\"1024\" height=\"464\" /></a>\r\n\r\nThere are other pairs that jump out as well with this change in policy. These will be delivered only to subscribers of the PREMIUM SERVICE.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3648.</strong> We have moved upwards by about 50 pips over last weeks close. My bias is to the downside given all the fundamentals surrounding the single currency, but it is just as much about the USD as it is about the EUR. The U.S. economy is not as great as the U.S. says it is and there is so much B.B. talked it is hard to cut through it. Bottom line is the U.S. needs consumer spending and consumer confidence to get growth really moving. All the talk about the weather…big fecking whoopee!! If the U.S. economy was moving forward we would not still be wasting time panicking about Q1 GDP when we are about to start Q3!\r\nUltimately, I do see that because of two different monetary policies operated by the central banks (FED &amp; ECB), this pair will fall. For now however, I see the immediate range as 1.3510 to 1.3750.\r\n\r\n<strong>GBP/USD: Closing Price 1.7023</strong>. Basically unchanged in the past week, so the cable is consolidating above 1.7000 for now. Carney the HAWK was Carney the WET FISH during the week with the MPC review. This pair has a range of 1.6950 to 1.7060.\r\n\r\n<strong>AUD/USD: Closing Price 0.9415</strong>. A little higher this week over last weeks close at 0.9387. Given that we have an RBA statement early hours for me Tuesday morning, it will be interesting to hear what words of wisdom Glenn Stevens has for us this month. If you recall when the AUD/USD was at 0.9000 he was calling for the exchange rate to be more like 0.8500. It’s risen about 4% since that call for it to go lower. So what will Mr. Stevens say on Tuesday morning? Only the good lord knows at the moment. The range is quite tight 0.9350 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8777</strong>. The most over-valued currency pair on the planet in my opinion marches onwards and upwards. I am still short, and I keep adding at highs, when this baby drops Champagne is on me!!\r\nThe top of the range, all time highs are at 0.8880 and it may well be that we have to touch here before falling back. I am adjusting all my stops accordingly. However, I would not rule out “Wheeler the Dealer” directly intervening, he must be having sleepless nights over the NZD strength across the board. He never ruled this out as a way to control the exchange rate.\r\nThis guy has to learn he cannot raise interest rates and then complain that the exchange rate is too high. It just does not work that way. Verbal intervention fools no one these days. The range is really from 0.8720 up to 0.8880.<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.0661.</strong> A nice move is happening with the Cad and it’s crosses. We have fallen through key support at 1.0715 and are now zooming in on 1.0650. We can go lower as long as Oil prices are elevated. The range that interests me is 1.0585 to 1.0740.\r\n\r\n<strong>USD/CHF: Closing Price 0.8905</strong>. Even though we are sitting on support at 0.8910. Boring, boring…not interested in this pair unless the EUR/USD nose-dives below 1.3550. The range is 0.8850 to 0.8960.\r\n\r\n<strong>USD/JPY: Closing Price 101.39. </strong>This pair looks like it’s heading much lower once again. I am saying this after writing last week that I thought it was moving higher…!\r\n\r\nI am finding it very difficult to read JPY moves. The range that I am looking at is 101.15 to 101.85 / 102.15.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: NZD – Business Confidence.\r\n\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – HSBC Final Manufacturing PMI.\r\n\r\nTUESDAY: AUD – RBA Interest Rate Statement.\r\nTUESDAY: USD – ISM Manufacturing PMi.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – FED Yellen speaks.\r\nWEDNESDAY: AUD – RBA Stevens speaks.\r\nWEDNESDAY: CNY – Non-Manufacturing PMi.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: EUR – Interest Rate decision and Press Conference.\r\nTHURSDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. THE PREMIUM SERVICE:</strong>\r\n\r\nI refer quite a bit in my blog about the PREMIUM SERVICE. As I am always having new readers I thought it may be of value just to highlight one or two points relating to the PREMIUM SERVICE.\r\n\r\nThis is a subscription membership with exclusive content for subscribers, both on the website and daily by way of an exclusive twitter feed and a morning news letter THE DAILY FX POST that is posted to the PREMIUM SERVICE section of my website. If this something that interests you, I just want to also mention that the $20.00 four week trial subscription offer will end shortly. I have no plans to re-introduce this again this year.\r\n\r\nIf you want an alternative view on the Forex Market or just someone else’s thoughts to bounce off your own, maybe it’s worth a look. Introductory special offers are available from time to time, it maybe the best small investment you make this year.\r\n\r\nFor more information about the PREMIUM SERVICE check out the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> situated on the top of the page there are a number of drop down menus that contain all the things required to join.<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JUNE 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE. I also show you the year-to-date performance by trade style.\r\n\r\nThere is a lot to data to absorb, if you have queries just email me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\"><img class=\"aligncenter size-full wp-image-3964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS-1-28062014.png\" alt=\"PREM SERV PROFITS 1 28062014\" width=\"445\" height=\"423\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\"><img class=\"aligncenter size-full wp-image-3965\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERV-PROFITS2-28062014.png\" alt=\"PREM SERV PROFITS2 28062014\" width=\"456\" height=\"416\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nIn order to provide you with more information and clarification, so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. FINAL THOUGHTS:</strong>\r\n\r\nThe double whammy happens on Thursday; Non-Farm payrolls from the U.S. and Draghi’s ECB Press Conference. Other big news events are early Tuesday morning for me the RBA rate / policy statement. Will Glenn Stevens talk down the Aussie?\r\n\r\nUp until these events, I would say that we might just drift towards Thursday’s news, but in the background I would also imagine that many U.S. traders would be on vacation around the July 4th holidays. In addition we still have World Cup fever in play. So, in reality although it may look like a double whammy on the surface there may be outside influencing factors that could make these events less market moving than normal.\r\n\r\nTherefore, keep your TRADING DISCIPLINE high…do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nKeep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday June 28th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\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> </strong>\r\n\r\n<strong> </strong>','THE FED & BOE versus BOJ, SNB and ECB','','inherit','open','closed','','3974-revision-v1','','','2014-06-28 06:17:07','2014-06-28 11:17:07','',3974,'https://weeklyfxdrivethru.com/3974-revision-v1/',0,'revision','',0),(3980,1,'2014-06-28 06:33:52','2014-06-28 11:33:52','<section class=\"pdf-links\">\r\n<div class=\"one-third first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n<div class=\"one-third\"></div>\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<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\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<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n<div class=\"one-third\"></div>\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<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n<div class=\"one-third\"></div>\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<div class=\"one-third\"></div>\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<div class=\"one-half first\"></div>\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<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n<div class=\"one-third\"></div>\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<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n<div class=\"one-third\"></div>\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<div class=\"one-third\"></div>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>\r\n<div class=\"one-third\"></div>\r\n&nbsp;\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n</section>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-06-28 06:33:52','2014-06-28 11:33:52','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(3982,1,'2014-06-30 06:31:10','2014-06-30 11:31:10','Good Day,\r\n\r\nFirstly, I welcome the new subscribers from over the past couple of days.\r\n\r\nI just responded to an email from Raul (Brasil), over reducing risk even when I am within (well within in many trades) my RISK TOLERANCE / PARAMETERS. This weeks economic calendar is just crazy. The RBA, lots of PMi data, ECB Press Conference and the U.S. Jobs report to name but a few. Over the next 48 hours, I will be positioning myself as best I can to only have trades in play that are either not affected by the news, i.e non specific cross-rates, or  trades that I fundamentally want to keep live at the moment but I will be moves up stops or protecting some profits. 90% of the time trades in profit I will exit. I can always re-enter again should the situation drive me.','#60 - THE DAILY FX POST, Monday 30th June 2014','','inherit','open','closed','','3981-revision-v1','','','2014-06-30 06:31:10','2014-06-30 11:31:10','',3981,'https://weeklyfxdrivethru.com/3981-revision-v1/',0,'revision','',0),(3983,1,'2014-06-30 06:44:07','2014-06-30 11:44:07','Good Day,\r\n\r\nFirstly, I welcome the new subscribers from over the past couple of days.\r\n\r\nI just responded to an email from Raul (Brasil), over reducing risk even when I am within (well within in many trades) my RISK TOLERANCE / PARAMETERS. This weeks economic calendar is just crazy. The RBA, lots of PMi data, ECB Press Conference and the U.S. Jobs report to name but a few. Over the next 48 hours, I will be positioning myself as best I can to only have trades in play that are either not affected by the news, i.e non specific cross-rates, or  trades that I fundamentally want to keep live at the moment but I will be moves up stops or protecting some profits. 90% of the time trades in profit I will exit. I can always re-enter again should the situation drive me.\r\n\r\nOVERVIEW:\r\n\r\nA great deal can happen this week in currencies and it will mostly be dominated by the usual suspects: USD/JPY and EUR/USD.\r\n\r\nThe EUR/USD will have the volatility but it also dangerous to trade. My bias is still bearish as we broke lower out of an ascending wedge on the DAILY chart. We are shortly about to test the 200 DAY SMA and it looks like horizontal support at 1.3670. If we break higher above these levels, we set up a great short opportunity as it heads towards 1.3725-50. I will be looking to enter short up at these levels. With month, quarter and half year ends today, do not rule our U.S. 10 Year yields maybe rising. This would support USD strength. Over the past while yields have been falling and this had kept the USD under control and weak.','#60 - THE DAILY FX POST, Monday 30th June 2014','','inherit','open','closed','','3981-revision-v1','','','2014-06-30 06:44:07','2014-06-30 11:44:07','',3981,'https://weeklyfxdrivethru.com/3981-revision-v1/',0,'revision','',0),(3984,1,'2014-06-30 07:26:25','2014-06-30 12:26:25','Good Day,\r\n\r\nFirstly, I welcome the new subscribers from over the past couple of days.\r\n\r\nI just responded to an email from Raul (Brasil), over reducing risk even when I am within (well within in many trades) my RISK TOLERANCE / PARAMETERS. This weeks economic calendar is just crazy. The RBA, lots of PMi data, ECB Press Conference and the U.S. Jobs report to name but a few. Over the next 48 hours, I will be positioning myself as best I can to only have trades in play that are either not affected by the news, i.e non specific cross-rates, or  trades that I fundamentally want to keep live at the moment but I will be moves up stops or protecting some profits. 90% of the time trades in profit I will exit. I can always re-enter again should the situation drive me.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>OVERVIEW:</strong></span>\r\n\r\nA great deal can happen this week in currencies and it will mostly be dominated by the usual suspects: USD/JPY and EUR/USD.\r\n\r\nThe EUR/USD will have the volatility but it also dangerous to trade. My bias is still bearish as we broke lower out of an ascending wedge on the DAILY chart. We are shortly about to test the 200 DAY SMA and it looks like horizontal support at 1.3670. If we break higher above these levels, we set up a great short opportunity as it heads towards 1.3725-50. I will be looking to enter short up at these levels. With month, quarter and half year ends today, do not rule our U.S. 10 Year yields maybe rising. This would support USD strength. Over the past while yields have been falling and this had kept the USD under control and weak.\r\n\r\nWatch the USD/JPY, we are below the 200DAY SMA and we are at the 78% Fib at 101.25. If we fall through here we look towards the absolutely critical support at 100.75. If this level caves in later this week look for a potential sub 100.00 move towards 98.50 maybe even 97.00.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>TRADES:</strong></span>\r\n\r\nI am not looking to enter fresh trades but two are on my radar at the moment.\r\n\r\nUSD/CHF - Short at 0.8910 back towards 0.8850, with a 30 pip stop.\r\n\r\nUSD/CAD- Short at 1.0710 back towards 1.0650,  with a 30 pip stop. (but be careful CAD GDP today)\r\n\r\nEUR/USD - Short from 1.3725 stop at 1.3800 looking for a move back below 1.3450 longer-term.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>RBA TONIGHT:</strong></span>\r\n\r\nI will look to add to existing shorts in AUD/USD and NZD/USD if the RBA is not trying to talk down the AUD exchange rate and the AUD leaps towards 0.9460 or beyond 0.9525. If Stevens does talk down the AUD exchange rate and will add to trades on pullbacks. These may just be additions for 48 hours or so but I feel that they could be profitable trades.\r\n\r\nRemember in the blog over the weekend, I mentioned that Glenn Stevens RBA governor was talking down the AUD/USD when it was at 0,9000. It now sits around 0.9400, I suspect that he is not a happy puppy / bunny.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>I have my plan!!</strong></span>\r\n\r\nTake care,\r\n\r\nScott','#60 - THE DAILY FX POST, Monday 30th June 2014','','inherit','open','closed','','3981-revision-v1','','','2014-06-30 07:26:25','2014-06-30 12:26:25','',3981,'https://weeklyfxdrivethru.com/3981-revision-v1/',0,'revision','',0),(3985,1,'2014-06-30 07:27:40','2014-06-30 12:27:40','Good Day,\r\n\r\nFirstly, I welcome the new subscribers from over the past couple of days.\r\n\r\nI just responded to an email from Raul (Brasil), over reducing risk even when I am within (well within in many trades) my RISK TOLERANCE / PARAMETERS. This weeks economic calendar is just crazy. The RBA, lots of PMi data, ECB Press Conference and the U.S. Jobs report to name but a few. Over the next 48 hours, I will be positioning myself as best I can to only have trades in play that are either not affected by the news, i.e non specific cross-rates, or  trades that I fundamentally want to keep live at the moment but I will be moves up stops or protecting some profits. 90% of the time trades in profit I will exit. I can always re-enter again should the situation drive me.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>OVERVIEW:</strong></span>\r\n\r\nA great deal can happen this week in currencies and it will mostly be dominated by the usual suspects: USD/JPY and EUR/USD.\r\n\r\nThe EUR/USD will have the volatility but it also dangerous to trade. My bias is still bearish as we broke lower out of an ascending wedge on the DAILY chart. We are shortly about to test the 200 DAY SMA and it looks like horizontal support at 1.3670. If we break higher above these levels, we set up a great short opportunity as it heads towards 1.3725-50. I will be looking to enter short up at these levels. With month, quarter and half-year ends today, do not rule our U.S. 10 Year yields maybe rising. This would support USD strength. Over the past while yields have fallen and this had kept the USD under control and weak.\r\n\r\nWatch the USD/JPY, we are below the 200 DAY SMA and we are at the 78% Fib at 101.25. If we fall through here we look towards the absolutely critical support at 100.75. If this level caves in later this week look for a potential sub 100.00 move towards 98.50 maybe even 97.00.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>TRADES:</strong></span>\r\n\r\nI am not looking to enter fresh trades but two are on my radar at the moment.\r\n\r\nUSD/CHF - Short at 0.8910 back towards 0.8850, with a 30 pip stop.\r\n\r\nUSD/CAD- Short at 1.0710 back towards 1.0650,  with a 30 pip stop. (but be careful CAD GDP today)\r\n\r\nEUR/USD - Short from 1.3725 stop at 1.3800 looking for a move back below 1.3450 longer-term.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>RBA TONIGHT:</strong></span>\r\n\r\nI will look to add to existing shorts in AUD/USD and NZD/USD if the RBA is not trying to talk down the AUD exchange rate and the AUD leaps towards 0.9460 or beyond 0.9525. If Stevens does talk down the AUD exchange rate and will add to trades on pullbacks. These may just be additions for 48 hours or so but I feel that they could be profitable trades.\r\n\r\nRemember in the blog over the weekend, I mentioned that Glenn Stevens RBA governor was talking down the AUD/USD when it was at 0,9000. It now sits around 0.9400, I suspect that he is not a happy puppy / bunny.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>I have my plan!!</strong></span>\r\n\r\nTake care,\r\n\r\nScott','#60 - THE DAILY FX POST, Monday 30th June 2014','','inherit','open','closed','','3981-revision-v1','','','2014-06-30 07:27:40','2014-06-30 12:27:40','',3981,'https://weeklyfxdrivethru.com/3981-revision-v1/',0,'revision','',0),(4060,1,'2014-07-09 07:18:32','2014-07-09 12:18:32','Good Day,\r\n\r\nWow, we really are very tight ranges. Not really much to look at except that the NZD strength continues to annoy me and I am starting to think that until we test the stops at 0.8880 we are not going to say enough.....and then start to pullback. I would say that both Wheeler (RBNZ) and Stevens (RBA) are pulling teeth on the elevated levels of both the NZD and AUD at the moment. They are going to have to get creative to weaken their currencies. Verbal intervention does not work.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EXISTING LIVE TRADES OVERVIEW:</strong></span>\r\n\r\nEUR/USD (SHORT) -  In a 30 pip range....it really needs a break below 1.3575 to open up for the bears to attack. On the 60M chart it looks like a bit of a flag formation could be possible with a measured move to just on 1.3200. But we need to break below 1.3575 for this to come into play.\r\n\r\nUSD/CAD (LONG) - looks like we may pull back to 1.0650 before moving forward.  I am in a small position but I need to see a break above 1.0700 to add to my existing position size.\r\n\r\nGBP/NZD (LONG) - long term FUNDAMENTAL trade hedged at 150 pips.\r\n\r\nAUD/USD (LONG) - holding hedged at 100 pips.\r\n\r\nNZD/USD (SHORT) - My most annoying trade at the moment. I am holding and expecting a run for the highs. I will add on highs to the position.\r\n\r\nEUR/GBP (SHORT) - Fundamental news regarding EUR and GBP  is keeping me short but \'cable\" is concerning me unless it starts to move higher after this consolidation period.\r\n\r\nAUD/USD (SHORT) - holding and looking to add below 0.9320.\r\n\r\nThose are my thoughts on the existing live trades. I am not looking to add any more trades right now unless we see some movement in the markets. The tight ranges across the board will eventually break but its all about patience. Right now we are in a one-sided market and until sellers start to re-appear it going to remain tight and a period low volatility.\r\n\r\nIf I see anything I will tweet. It is even difficult on pullback trades as the charts are so messy...\r\n\r\nScott','#65 - THE DAILY FX POST, Wednesday 9th July 2014','','publish','open','closed','','65-daily-fx-post-wednesday-9th-july-2014','','','2014-07-09 07:18:32','2014-07-09 12:18:32','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4060',0,'member_posts','',0),(4005,1,'2014-06-30 16:50:40','2014-06-30 21:50:40','<span style=\"text-decoration: underline;\"><strong>CONTENTS:</strong></span>\r\n\r\n<strong>1. What is the PREMIUM SERVICE?</strong>\r\n\r\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\r\n\r\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\r\n\r\n<strong>4. How does the PREMIUM SERVICE work and what do you get?</strong>\r\n\r\n<strong>5. The PREMIUM SERVICE - Results to June 30<sup>th</sup> 2014. (Plus chart with subscription and broker option)\r\n</strong>\r\n\r\n<strong>6. Trading Bonus.</strong>\r\n\r\n<strong>7. If I am interested and I want to subscribe what do I do next?</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. What is the PREMIUM SERVICE?</strong></span>\r\n\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups, as they happen plus my thoughts and views on the Forex market.\r\n\r\nOver the following few paragraphs I am hoping that I will convince to you that having a subscription to the PREMIUM SERVICE is not only a shrewd trading decision but also a shrewd business decision.<strong> </strong>\r\n\r\n<strong>\r\n<span style=\"text-decoration: underline;\">2. How did the PREMIUM SERVICE evolve?</span></strong>\r\n\r\nI started trading Forex about 7 years ago. Like many new traders I thought that the Forex Market was: -\r\n\r\na)    An easy way to add an additional income stream into my family’s monthly finances.\r\n\r\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\r\n\r\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotted potential moves.\r\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\r\n\r\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus. I\r\n\r\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained.\r\n\r\nThe PREMIUM SERVICE is now 6 months old and it has been more successful than I had anticipated, feedback is better than I had originally hoped and my profits are above my original goals. I am to coin a phrase…. absolutely delighted.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong></span>\r\n\r\nThe PREMIUM SERVICE attracts many different traders at different levels of experience.\r\n<ul>\r\n	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream.</li>\r\n	<li>AN INTERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\r\n	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\r\n	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\r\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. How does the PREMIUM SERVICE work and what do you get?</strong></span>\r\n\r\nFirstly, it is NOT an automated system.\r\n\r\nI provide trade set-ups and trades that are on “MY RADAR” to you via the PREMIUM SERVICE version of THE WEEKLY FX DRIVE THRU each week.\r\n\r\nEach day before 9.00am EDT I post a very brief overview of what I am initially looking at market-wise into the PREMIUM SERVICE exclusive area of my website called THE DAILY FX POST, which some day’s can be nothing, and also if trades are on my radar they are posted into this daily blog. It is not a guarantee of trade-set ups because some days there are no trades.\r\n\r\nIf I see a trade that interests me, I post trade set-ups, it is up to you if you decide to follow them or not.\r\n\r\nFinally, PREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nI also provide bespoke training for subscribers, if they want it. This is priced individually based upon each individual’s needs, timings and requirements.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>5. THE PREMIUM SERVICE – Results to JUNE 30<sup>th</sup> 2014:</strong></span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe chart below shows the results year to date including a PREMIUM SERVICE subscription and separate broker option.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nFrom the chart above I want to make the following comments to clarify some points.\r\n\r\na)    All of the trading profits above in the excel spreadsheet are based upon trade set-ups provided solely through the PREMIUM SERVICE.\r\n\r\nb)    All the trades undertaken are based upon single lot trades, whether they are MICRO, MINI or STANDARD lots. If you maintain a larger balance with your broker and can operate with a greater RISK MANAGEMENT tolerance you will be able to trade multi-lot trades. Obviously the profitable trades will be more profitable and the loss trades would incur greater losses. Trading with multi-lot positions would mean that the net overall position would be substantially greater than those shown in the excel spreadsheet above\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>6. Trading Bonus:</strong></span>\r\n\r\na)    There is also a trading bonus which can only be given if you chose to open an account or an additional account with a broker from my website that I have a marketing arrangement with at the time of joining the PREMIUM SERVICE.\r\n\r\nb)    The minimum start-up balance with my brokers vary but USD$1,000.00 is the usual minimum balance.\r\n\r\nc)    You can still subscribe to the PREMIUM SERVICE without signing up with one of my brokers but please note there is NO TRADING BONUS provided.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>7. If I am interested and I want to subscribe what do I do next?</strong></span>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, you basically have two options to choose from: -\r\n<ol>\r\n	<li>A PREMIUM SERVICE subscription and a separate BROKER account with a TRADING BONUS</li>\r\n	<li>A PREMIUM SERVICE subscription.</li>\r\n</ol>\r\nFor the first option, go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and on my welcome page click on the banner for BLACKWELL GLOBAL. This will lead through an account opening procedure that should take no more than 15-20 minutes maximum. Please note you will need to scan or fax Photo ID plus a recent (within 3 months) utility bill confirming your address.\r\nIt takes about 72 hours for the broker account to fully up and running, basically as fast as you can transfer money. Once this is complete, I will contact you about and organize your TRADING BONUS.\r\n\r\nThe bonus amount added is calculated on a scale depending on how much you transfer to open your account as follows: - (From $500 to $999.99 = 20% and from $1,000 through to $10,000 = 30%, for amounts in excess of $10,000 the ceiling is a flat payment of $3,000)\r\n\r\nFor both the First and Second options subscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SIGN-UP at the top of the page to subscribe. Choose the period that you want to subscribe for, 10, 20 or 40 weeks. You pick your password, ID etc. You will require a PayPal account to complete your subscription.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\npremiumservice@weeklyfxdrivethru.com\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com\r\n</a>1st July 2014','WHY IS SUBSCRIBING TO THE PREMIUM SERVICE A GOOD IDEA?','','publish','open','closed','','subscribing-premium-service-good-idea','','','2014-07-01 04:04:15','2014-07-01 09:04:15','',0,'https://weeklyfxdrivethru.com/?p=4005',0,'post','',0),(4007,1,'2014-06-30 16:48:02','2014-06-30 21:48:02','<span style=\"text-decoration: underline;\"><strong>CONTENTS:</strong></span>\r\n\r\n<strong>1. What is the PREMIUM SERVICE?</strong>\r\n\r\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\r\n\r\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\r\n\r\n<strong>4. How does the PREMIUM SERVICE work and what do you get?</strong>\r\n\r\n<strong>5. The PREMIUM SERVICE - Results to June 30<sup>th</sup> 2014.\r\n</strong>\r\n\r\n<strong>6. Trading Bonus.</strong>\r\n\r\n<strong>7. If I interested and I want to subscribe what do I do next?</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. What is the PREMIUM SERVICE?</strong></span>\r\n\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups, as they happen plus my thoughts and views on the Forex market.\r\n\r\nOver the following few paragraphs I am hoping that I will convince to you that having a subscription to the PREMIUM SERVIVE is not only a shrewd trading decision but also a shrewd business decision.<strong> </strong>\r\n\r\n<strong>\r\n<span style=\"text-decoration: underline;\">2. How did the PREMIUM SERVICE evolve?</span></strong>\r\n\r\nI started trading Forex about 7 years ago. Like many new traders I thought that the Forex Market was: -\r\n\r\na)    An easy way to add an additional income stream into my family’s monthly finances.\r\n\r\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\r\n\r\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotted potential moves.\r\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\r\n\r\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus. I\r\n\r\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained.\r\n\r\nThe PREMIUM SERVICE is now 6 months old and it has been more successful than I had anticipated, feedback is better than I had originally hoped and my profits are above my original objectives. I am to coin a phrase…. absolutely delighted.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong></span>\r\n\r\nThe PREMIUM SERVICE attracts many different traders at different levels of experience.\r\n<ul>\r\n	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream.</li>\r\n	<li>AN ITERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\r\n	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\r\n	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\r\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\r\n</ul>\r\n<span style=\"text-decoration: underline;\"><strong>4. How does the PREMIUM SERVICE work and what do you get?</strong></span>\r\n\r\nFirstly, it is NOT an automated system.\r\n\r\nI provide trade set-ups and trades that are on “MY RADAR” to you via the PREMIUM SERVICE version of THE WEEKLY FX DRIVE THRU each week.\r\n\r\nEach day before 9.00am EDT I post a very brief overview of what I am initially looking at market-wise into the PREMIUM SERVICE exclusive area of my website called THE DAILY FX POST, which some day’s can be nothing, and also if trades are on my radar they are posted into this daily blog. It is not a guarantee of trade-set ups because some days there are no trades.\r\n\r\nIf I see a trade that interests me, I post trade set-ups, it is up to you if you decide to follow them or not.\r\n\r\nFinally, PREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nI also provide bespoke training for subscribers, if they want it. This is priced individually based upon each individual’s needs, timings and requirements.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>5. THE PREMIUM SERVICE – Results to JUNE 30<sup>th</sup> 2014:</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nFrom the chart above I want to make the following comments to clarify a few points.\r\n\r\na)    All of the trading profits above in the excel spreadsheet are based upon trade set-ups provided solely through the PREMIUM SERVICE.\r\n\r\nb)    All the trades undertaken are based upon single lot trades, whether they are MICRO, MINI or STANDARD lots. If you maintain a larger balance with your broker and can operate with a greater RISK MANAGEMENT tolerance you will be able to trade multi-lot trades. Obviously the profitable trades will be more profitable and the loss trades would incur greater losses. Trading with multi-lot positions would mean that the net overall position would be substantially greater than those shown in the excel spreadsheet above\r\n\r\n<span style=\"text-decoration: underline;\"><strong>6. Trading Bonus:</strong></span>\r\n\r\na)    There is also a trading bonus which can only be given if you chose to open an account or an additional account with a broker from my website that I have a marketing arrangement with at the time of joining the PPREMIUM SERVICE.\r\n\r\nb)    The minimum start up balance with my brokers vary but USD$1,000.00 is the usual minimum balance.\r\n\r\nc)    You can still subscribe to the PREMIUM SERVICE without signing up with one of my brokers but please note there is NO TRADING BONUS provided.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>7. If I am interested and I want to subscribe what do I do next?</strong></span>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, you basically have two options to choose from: -\r\n<ol>\r\n	<li>A PREMIUM SERVICE subscription and a separate BROKER account with a TRADING BONUS</li>\r\n	<li>A PREMIUM SERVICE subscription.</li>\r\n</ol>\r\nFor the first option, go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and on my welcome page click on the banner for BLACKWELL GLOBAL. This will lead through an account opening procedure that should take no more than 15-20 minutes maximum. Please note you will need to scan or fax Photo ID plus a recent (within 3 months) utility bill confirming your address.\r\nIt takes about 72 hours for the broker account to fully up and running, basically as fast as you can transfer money. Once this is complete, I will contact you about and organize your TRADING BONUS.\r\n\r\nThe bonus amount added is calculated on a scale depending on how much you transfer to open your account as follows: - (From $500 to $999.99 = 20% and from $1,000 through to $10,000 = 30%, for amounts in excess of $10,000 the ceiling is a flat payment of $3,000)\r\n\r\nFor both the First and Second options subscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SIGN-UP at the top of the page to subscribe. Choose the period that you want to subscribe for, 10, 20 or 40 weeks. You pick your password, ID etc. You will require a PayPal account to complete your subscription.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\npremiumservice@weeklyfxdrivethru.com\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com\r\n</a>1st July 2014','WHY IS SUBSCRIBING TO THE PREMIUM SERVICE IS A GOOD IDEA?','','inherit','open','closed','','4005-revision-v1','','','2014-06-30 16:48:02','2014-06-30 21:48:02','',4005,'https://weeklyfxdrivethru.com/4005-revision-v1/',0,'revision','',0),(4009,1,'2014-06-30 16:50:40','2014-06-30 21:50:40','<span style=\"text-decoration: underline;\"><strong>CONTENTS:</strong></span>\r\n\r\n<strong>1. What is the PREMIUM SERVICE?</strong>\r\n\r\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\r\n\r\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\r\n\r\n<strong>4. How does the PREMIUM SERVICE work and what do you get?</strong>\r\n\r\n<strong>5. The PREMIUM SERVICE - Results to June 30<sup>th</sup> 2014.\r\n</strong>\r\n\r\n<strong>6. Trading Bonus.</strong>\r\n\r\n<strong>7. If I interested and I want to subscribe what do I do next?</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. What is the PREMIUM SERVICE?</strong></span>\r\n\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups, as they happen plus my thoughts and views on the Forex market.\r\n\r\nOver the following few paragraphs I am hoping that I will convince to you that having a subscription to the PREMIUM SERVICE is not only a shrewd trading decision but also a shrewd business decision.<strong> </strong>\r\n\r\n<strong>\r\n<span style=\"text-decoration: underline;\">2. How did the PREMIUM SERVICE evolve?</span></strong>\r\n\r\nI started trading Forex about 7 years ago. Like many new traders I thought that the Forex Market was: -\r\n\r\na)    An easy way to add an additional income stream into my family’s monthly finances.\r\n\r\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\r\n\r\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotted potential moves.\r\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\r\n\r\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus. I\r\n\r\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained.\r\n\r\nThe PREMIUM SERVICE is now 6 months old and it has been more successful than I had anticipated, feedback is better than I had originally hoped and my profits are above my original goals. I am to coin a phrase…. absolutely delighted.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong></span>\r\n\r\nThe PREMIUM SERVICE attracts many different traders at different levels of experience.\r\n<ul>\r\n	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream.</li>\r\n	<li>AN INTERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\r\n	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\r\n	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\r\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. How does the PREMIUM SERVICE work and what do you get?</strong></span>\r\n\r\nFirstly, it is NOT an automated system.\r\n\r\nI provide trade set-ups and trades that are on “MY RADAR” to you via the PREMIUM SERVICE version of THE WEEKLY FX DRIVE THRU each week.\r\n\r\nEach day before 9.00am EDT I post a very brief overview of what I am initially looking at market-wise into the PREMIUM SERVICE exclusive area of my website called THE DAILY FX POST, which some day’s can be nothing, and also if trades are on my radar they are posted into this daily blog. It is not a guarantee of trade-set ups because some days there are no trades.\r\n\r\nIf I see a trade that interests me, I post trade set-ups, it is up to you if you decide to follow them or not.\r\n\r\nFinally, PREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nI also provide bespoke training for subscribers, if they want it. This is priced individually based upon each individual’s needs, timings and requirements.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>5. THE PREMIUM SERVICE – Results to JUNE 30<sup>th</sup> 2014:</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nFrom the chart above I want to make the following comments to clarify a few points.\r\n\r\na)    All of the trading profits above in the excel spreadsheet are based upon trade set-ups provided solely through the PREMIUM SERVICE.\r\n\r\nb)    All the trades undertaken are based upon single lot trades, whether they are MICRO, MINI or STANDARD lots. If you maintain a larger balance with your broker and can operate with a greater RISK MANAGEMENT tolerance you will be able to trade multi-lot trades. Obviously the profitable trades will be more profitable and the loss trades would incur greater losses. Trading with multi-lot positions would mean that the net overall position would be substantially greater than those shown in the excel spreadsheet above\r\n\r\n<span style=\"text-decoration: underline;\"><strong>6. Trading Bonus:</strong></span>\r\n\r\na)    There is also a trading bonus which can only be given if you chose to open an account or an additional account with a broker from my website that I have a marketing arrangement with at the time of joining the PREMIUM SERVICE.\r\n\r\nb)    The minimum start-up balance with my brokers vary but USD$1,000.00 is the usual minimum balance.\r\n\r\nc)    You can still subscribe to the PREMIUM SERVICE without signing up with one of my brokers but please note there is NO TRADING BONUS provided.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>7. If I am interested and I want to subscribe what do I do next?</strong></span>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, you basically have two options to choose from: -\r\n<ol>\r\n	<li>A PREMIUM SERVICE subscription and a separate BROKER account with a TRADING BONUS</li>\r\n	<li>A PREMIUM SERVICE subscription.</li>\r\n</ol>\r\nFor the first option, go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and on my welcome page click on the banner for BLACKWELL GLOBAL. This will lead through an account opening procedure that should take no more than 15-20 minutes maximum. Please note you will need to scan or fax Photo ID plus a recent (within 3 months) utility bill confirming your address.\r\nIt takes about 72 hours for the broker account to fully up and running, basically as fast as you can transfer money. Once this is complete, I will contact you about and organize your TRADING BONUS.\r\n\r\nThe bonus amount added is calculated on a scale depending on how much you transfer to open your account as follows: - (From $500 to $999.99 = 20% and from $1,000 through to $10,000 = 30%, for amounts in excess of $10,000 the ceiling is a flat payment of $3,000)\r\n\r\nFor both the First and Second options subscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SIGN-UP at the top of the page to subscribe. Choose the period that you want to subscribe for, 10, 20 or 40 weeks. You pick your password, ID etc. You will require a PayPal account to complete your subscription.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\npremiumservice@weeklyfxdrivethru.com\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com\r\n</a>1st July 2014','WHY IS SUBSCRIBING TO THE PREMIUM SERVICE IS A GOOD IDEA?','','inherit','open','closed','','4005-revision-v1','','','2014-06-30 16:50:40','2014-06-30 21:50:40','',4005,'https://weeklyfxdrivethru.com/4005-revision-v1/',0,'revision','',0),(4008,1,'2014-06-30 16:49:37','2014-06-30 21:49:37','<span style=\"text-decoration: underline;\"><strong>CONTENTS:</strong></span>\r\n\r\n<strong>1. What is the PREMIUM SERVICE?</strong>\r\n\r\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\r\n\r\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\r\n\r\n<strong>4. How does the PREMIUM SERVICE work and what do you get?</strong>\r\n\r\n<strong>5. The PREMIUM SERVICE - Results to June 30<sup>th</sup> 2014.\r\n</strong>\r\n\r\n<strong>6. Trading Bonus.</strong>\r\n\r\n<strong>7. If I interested and I want to subscribe what do I do next?</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. What is the PREMIUM SERVICE?</strong></span>\r\n\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups, as they happen plus my thoughts and views on the Forex market.\r\n\r\nOver the following few paragraphs I am hoping that I will convince to you that having a subscription to the PREMIUM SERVICE is not only a shrewd trading decision but also a shrewd business decision.<strong> </strong>\r\n\r\n<strong>\r\n<span style=\"text-decoration: underline;\">2. How did the PREMIUM SERVICE evolve?</span></strong>\r\n\r\nI started trading Forex about 7 years ago. Like many new traders I thought that the Forex Market was: -\r\n\r\na)    An easy way to add an additional income stream into my family’s monthly finances.\r\n\r\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\r\n\r\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotted potential moves.\r\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\r\n\r\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus. I\r\n\r\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained.\r\n\r\nThe PREMIUM SERVICE is now 6 months old and it has been more successful than I had anticipated, feedback is better than I had originally hoped and my profits are above my original goals. I am to coin a phrase…. absolutely delighted.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong></span>\r\n\r\nThe PREMIUM SERVICE attracts many different traders at different levels of experience.\r\n<ul>\r\n	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream.</li>\r\n	<li>AN INTERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\r\n	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\r\n	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\r\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. How does the PREMIUM SERVICE work and what do you get?</strong></span>\r\n\r\nFirstly, it is NOT an automated system.\r\n\r\nI provide trade set-ups and trades that are on “MY RADAR” to you via the PREMIUM SERVICE version of THE WEEKLY FX DRIVE THRU each week.\r\n\r\nEach day before 9.00am EDT I post a very brief overview of what I am initially looking at market-wise into the PREMIUM SERVICE exclusive area of my website called THE DAILY FX POST, which some day’s can be nothing, and also if trades are on my radar they are posted into this daily blog. It is not a guarantee of trade-set ups because some days there are no trades.\r\n\r\nIf I see a trade that interests me, I post trade set-ups, it is up to you if you decide to follow them or not.\r\n\r\nFinally, PREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nI also provide bespoke training for subscribers, if they want it. This is priced individually based upon each individual’s needs, timings and requirements.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>5. THE PREMIUM SERVICE – Results to JUNE 30<sup>th</sup> 2014:</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nFrom the chart above I want to make the following comments to clarify a few points.\r\n\r\na)    All of the trading profits above in the excel spreadsheet are based upon trade set-ups provided solely through the PREMIUM SERVICE.\r\n\r\nb)    All the trades undertaken are based upon single lot trades, whether they are MICRO, MINI or STANDARD lots. If you maintain a larger balance with your broker and can operate with a greater RISK MANAGEMENT tolerance you will be able to trade multi-lot trades. Obviously the profitable trades will be more profitable and the loss trades would incur greater losses. Trading with multi-lot positions would mean that the net overall position would be substantially greater than those shown in the excel spreadsheet above\r\n\r\n<span style=\"text-decoration: underline;\"><strong>6. Trading Bonus:</strong></span>\r\n\r\na)    There is also a trading bonus which can only be given if you chose to open an account or an additional account with a broker from my website that I have a marketing arrangement with at the time of joining the PREMIUM SERVICE.\r\n\r\nb)    The minimum start-up balance with my brokers vary but USD$1,000.00 is the usual minimum balance.\r\n\r\nc)    You can still subscribe to the PREMIUM SERVICE without signing up with one of my brokers but please note there is NO TRADING BONUS provided.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>7. If I am interested and I want to subscribe what do I do next?</strong></span>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, you basically have two options to choose from: -\r\n<ol>\r\n	<li>A PREMIUM SERVICE subscription and a separate BROKER account with a TRADING BONUS</li>\r\n	<li>A PREMIUM SERVICE subscription.</li>\r\n</ol>\r\nFor the first option, go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and on my welcome page click on the banner for BLACKWELL GLOBAL. This will lead through an account opening procedure that should take no more than 15-20 minutes maximum. Please note you will need to scan or fax Photo ID plus a recent (within 3 months) utility bill confirming your address.\r\nIt takes about 72 hours for the broker account to fully up and running, basically as fast as you can transfer money. Once this is complete, I will contact you about and organize your TRADING BONUS.\r\n\r\nThe bonus amount added is calculated on a scale depending on how much you transfer to open your account as follows: - (From $500 to $999.99 = 20% and from $1,000 through to $10,000 = 30%, for amounts in excess of $10,000 the ceiling is a flat payment of $3,000)\r\n\r\nFor both the First and Second options subscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SIGN-UP at the top of the page to subscribe. Choose the period that you want to subscribe for, 10, 20 or 40 weeks. You pick your password, ID etc. You will require a PayPal account to complete your subscription.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\npremiumservice@weeklyfxdrivethru.com\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com\r\n</a>1st July 2014','WHY IS SUBSCRIBING TO THE PREMIUM SERVICE IS A GOOD IDEA?','','inherit','open','closed','','4005-revision-v1','','','2014-06-30 16:49:37','2014-06-30 21:49:37','',4005,'https://weeklyfxdrivethru.com/4005-revision-v1/',0,'revision','',0),(4010,1,'2014-06-30 19:59:28','2014-07-01 00:59:28','GoodDay,\r\n\r\nJust to keep you informed here are the month end and year to date PREMIUM SERVICE performances.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','PREMIUM SERVICE - PERFORMANCE TO 30th JUNE 2014 and YEAR TO DATE 2014','','publish','open','closed','','premium-service-performance-30th-june-2014-year-date-2014','','','2014-06-30 19:59:28','2014-07-01 00:59:28','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4010',0,'member_posts','',0),(4011,1,'2014-06-30 16:55:11','2014-06-30 21:55:11','GoodDay,\r\n\r\nJust to keep you informed here are the month end and year to date PREMIUM SERVICE performances.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','PREMIUM SERVICE - PERFORMANCE TO 30th JUNE 2014 and YEAR TO DATE 2014','','inherit','open','closed','','4010-revision-v1','','','2014-06-30 16:55:11','2014-06-30 21:55:11','',4010,'https://weeklyfxdrivethru.com/4010-revision-v1/',0,'revision','',0),(4012,1,'2014-07-01 07:22:33','2014-07-01 12:22:33','Good Day everyone,\r\n\r\nI felt that the RBA news last night was a little disappointing, Stevens once again re-iterated that the AUD exchange rates are  too high in the opinion of the RBA but did not really much else. I think the markets are a little tired of verbal intervention, especially as Stevens stated his \"it\'s too high\" when the AUD/USD sat at 0.9000...we are now above 0.9450!!\r\n\r\nI did not take a trade, I had a limit order set to start a new short trade at 0.9480 that timed out at 8.00am this morning EDT. If I re-do this I will tweet.\r\n\r\nGBP and EUR continue to press higher and I took two long trades on pullbacks a few minutes ago (via TWITTER):\r\n\r\nFT148\r\nGBP/USD\r\nLONG\r\nENTRY 1.7141\r\nSTOP 1.7110\r\nLIMIT 1.7175\r\n\r\nFT149\r\nEUR/USD\r\nLONG\r\nENTRY at 1.3686\r\nSTOP 1.3658\r\nLIMIT 1.3735\r\n\r\nI am not looking to enter anything else, I am still on close down mode ahead of Thursday..I really want to be as close to just a couple of trades as possible. Definitely no JPY and no EUR or GBP related trades.\r\n\r\nEUR/GBP now in profit finally and CAD/JPY finally moves in my direction.\r\n\r\nEverything looks pretty flat to me nothing is leaping off the page anyway.\r\n\r\n&nbsp;\r\n\r\nGood Luck, I will tweet if I do anything trade wise..\r\n\r\nScott','#61 - THE DAILY FX POST, Tuesday 1st July 2014','','publish','open','closed','','61-daily-fx-post-tuesday-1st-july-2014','','','2014-07-01 07:22:33','2014-07-01 12:22:33','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4012',0,'member_posts','',0),(4013,1,'2014-06-30 16:55:57','2014-06-30 21:55:57','','#61 - THE DAILY FX POST, Tuesday 1st July 2014','','inherit','open','closed','','4012-revision-v1','','','2014-06-30 16:55:57','2014-06-30 21:55:57','',4012,'https://weeklyfxdrivethru.com/4012-revision-v1/',0,'revision','',0),(4018,1,'2014-06-30 19:35:17','2014-07-01 00:35:17','<span style=\"text-decoration: underline;\"><strong>CONTENTS:</strong></span>\r\n\r\n<strong>1. What is the PREMIUM SERVICE?</strong>\r\n\r\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\r\n\r\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\r\n\r\n<strong>4. How does the PREMIUM SERVICE work and what do you get?</strong>\r\n\r\n<strong>5. The PREMIUM SERVICE - Results to June 30<sup>th</sup> 2014.\r\n</strong>\r\n\r\n<strong>6. Trading Bonus.</strong>\r\n\r\n<strong>7. If I am interested and I want to subscribe what do I do next?</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. What is the PREMIUM SERVICE?</strong></span>\r\n\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups, as they happen plus my thoughts and views on the Forex market.\r\n\r\nOver the following few paragraphs I am hoping that I will convince to you that having a subscription to the PREMIUM SERVICE is not only a shrewd trading decision but also a shrewd business decision.<strong> </strong>\r\n\r\n<strong>\r\n<span style=\"text-decoration: underline;\">2. How did the PREMIUM SERVICE evolve?</span></strong>\r\n\r\nI started trading Forex about 7 years ago. Like many new traders I thought that the Forex Market was: -\r\n\r\na)    An easy way to add an additional income stream into my family’s monthly finances.\r\n\r\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\r\n\r\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotted potential moves.\r\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\r\n\r\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus. I\r\n\r\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained.\r\n\r\nThe PREMIUM SERVICE is now 6 months old and it has been more successful than I had anticipated, feedback is better than I had originally hoped and my profits are above my original goals. I am to coin a phrase…. absolutely delighted.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong></span>\r\n\r\nThe PREMIUM SERVICE attracts many different traders at different levels of experience.\r\n<ul>\r\n	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream.</li>\r\n	<li>AN INTERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\r\n	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\r\n	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\r\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. How does the PREMIUM SERVICE work and what do you get?</strong></span>\r\n\r\nFirstly, it is NOT an automated system.\r\n\r\nI provide trade set-ups and trades that are on “MY RADAR” to you via the PREMIUM SERVICE version of THE WEEKLY FX DRIVE THRU each week.\r\n\r\nEach day before 9.00am EDT I post a very brief overview of what I am initially looking at market-wise into the PREMIUM SERVICE exclusive area of my website called THE DAILY FX POST, which some day’s can be nothing, and also if trades are on my radar they are posted into this daily blog. It is not a guarantee of trade-set ups because some days there are no trades.\r\n\r\nIf I see a trade that interests me, I post trade set-ups, it is up to you if you decide to follow them or not.\r\n\r\nFinally, PREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nI also provide bespoke training for subscribers, if they want it. This is priced individually based upon each individual’s needs, timings and requirements.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>5. THE PREMIUM SERVICE – Results to JUNE 30<sup>th</sup> 2014:</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nFrom the chart above I want to make the following comments to clarify a few points.\r\n\r\na)    All of the trading profits above in the excel spreadsheet are based upon trade set-ups provided solely through the PREMIUM SERVICE.\r\n\r\nb)    All the trades undertaken are based upon single lot trades, whether they are MICRO, MINI or STANDARD lots. If you maintain a larger balance with your broker and can operate with a greater RISK MANAGEMENT tolerance you will be able to trade multi-lot trades. Obviously the profitable trades will be more profitable and the loss trades would incur greater losses. Trading with multi-lot positions would mean that the net overall position would be substantially greater than those shown in the excel spreadsheet above\r\n\r\n<span style=\"text-decoration: underline;\"><strong>6. Trading Bonus:</strong></span>\r\n\r\na)    There is also a trading bonus which can only be given if you chose to open an account or an additional account with a broker from my website that I have a marketing arrangement with at the time of joining the PREMIUM SERVICE.\r\n\r\nb)    The minimum start-up balance with my brokers vary but USD$1,000.00 is the usual minimum balance.\r\n\r\nc)    You can still subscribe to the PREMIUM SERVICE without signing up with one of my brokers but please note there is NO TRADING BONUS provided.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>7. If I am interested and I want to subscribe what do I do next?</strong></span>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, you basically have two options to choose from: -\r\n<ol>\r\n	<li>A PREMIUM SERVICE subscription and a separate BROKER account with a TRADING BONUS</li>\r\n	<li>A PREMIUM SERVICE subscription.</li>\r\n</ol>\r\nFor the first option, go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and on my welcome page click on the banner for BLACKWELL GLOBAL. This will lead through an account opening procedure that should take no more than 15-20 minutes maximum. Please note you will need to scan or fax Photo ID plus a recent (within 3 months) utility bill confirming your address.\r\nIt takes about 72 hours for the broker account to fully up and running, basically as fast as you can transfer money. Once this is complete, I will contact you about and organize your TRADING BONUS.\r\n\r\nThe bonus amount added is calculated on a scale depending on how much you transfer to open your account as follows: - (From $500 to $999.99 = 20% and from $1,000 through to $10,000 = 30%, for amounts in excess of $10,000 the ceiling is a flat payment of $3,000)\r\n\r\nFor both the First and Second options subscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SIGN-UP at the top of the page to subscribe. Choose the period that you want to subscribe for, 10, 20 or 40 weeks. You pick your password, ID etc. You will require a PayPal account to complete your subscription.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\npremiumservice@weeklyfxdrivethru.com\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com\r\n</a>1st July 2014','WHY IS SUBSCRIBING TO THE PREMIUM SERVICE IS A GOOD IDEA?','','inherit','open','closed','','4005-revision-v1','','','2014-06-30 19:35:17','2014-07-01 00:35:17','',4005,'https://weeklyfxdrivethru.com/4005-revision-v1/',0,'revision','',0),(4019,1,'2014-07-01 04:01:59','2014-07-01 09:01:59','<span style=\"text-decoration: underline;\"><strong>CONTENTS:</strong></span>\n\n<strong>1. What is the PREMIUM SERVICE?</strong>\n\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\n\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\n\n<strong>4. How does the PREMIUM SERVICE work and what do you get?</strong>\n\n<strong>5. The PREMIUM SERVICE - Results to June 30<sup>th</sup> 2014. (Plus chart with subscription and broker option)\n</strong>\n\n<strong>6. Trading Bonus.</strong>\n\n<strong>7. If I am interested and I want to subscribe what do I do next?</strong>\n\n&nbsp;\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>1. What is the PREMIUM SERVICE?</strong></span>\n\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups, as they happen plus my thoughts and views on the Forex market.\n\nOver the following few paragraphs I am hoping that I will convince to you that having a subscription to the PREMIUM SERVICE is not only a shrewd trading decision but also a shrewd business decision.<strong> </strong>\n\n<strong>\n<span style=\"text-decoration: underline;\">2. How did the PREMIUM SERVICE evolve?</span></strong>\n\nI started trading Forex about 7 years ago. Like many new traders I thought that the Forex Market was: -\n\na)    An easy way to add an additional income stream into my family’s monthly finances.\n\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\n\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotted potential moves.\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\n\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus. I\n\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained.\n\nThe PREMIUM SERVICE is now 6 months old and it has been more successful than I had anticipated, feedback is better than I had originally hoped and my profits are above my original goals. I am to coin a phrase…. absolutely delighted.\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong></span>\n\nThe PREMIUM SERVICE attracts many different traders at different levels of experience.\n<ul>\n	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream.</li>\n	<li>AN INTERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\n	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\n	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\n</ul>\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>4. How does the PREMIUM SERVICE work and what do you get?</strong></span>\n\nFirstly, it is NOT an automated system.\n\nI provide trade set-ups and trades that are on “MY RADAR” to you via the PREMIUM SERVICE version of THE WEEKLY FX DRIVE THRU each week.\n\nEach day before 9.00am EDT I post a very brief overview of what I am initially looking at market-wise into the PREMIUM SERVICE exclusive area of my website called THE DAILY FX POST, which some day’s can be nothing, and also if trades are on my radar they are posted into this daily blog. It is not a guarantee of trade-set ups because some days there are no trades.\n\nIf I see a trade that interests me, I post trade set-ups, it is up to you if you decide to follow them or not.\n\nFinally, PREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\n\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\n\nI also provide bespoke training for subscribers, if they want it. This is priced individually based upon each individual’s needs, timings and requirements.\n\n&nbsp;\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>5. THE PREMIUM SERVICE – Results to JUNE 30<sup>th</sup> 2014:</strong></span>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\n\n&nbsp;\n\nThe chart below shows the results year to date including a PREMIUM SERVICE subscription and separate broker option.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\n\nFrom the chart above I want to make the following comments to clarify a few points.\n\na)    All of the trading profits above in the excel spreadsheet are based upon trade set-ups provided solely through the PREMIUM SERVICE.\n\nb)    All the trades undertaken are based upon single lot trades, whether they are MICRO, MINI or STANDARD lots. If you maintain a larger balance with your broker and can operate with a greater RISK MANAGEMENT tolerance you will be able to trade multi-lot trades. Obviously the profitable trades will be more profitable and the loss trades would incur greater losses. Trading with multi-lot positions would mean that the net overall position would be substantially greater than those shown in the excel spreadsheet above\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>6. Trading Bonus:</strong></span>\n\na)    There is also a trading bonus which can only be given if you chose to open an account or an additional account with a broker from my website that I have a marketing arrangement with at the time of joining the PREMIUM SERVICE.\n\nb)    The minimum start-up balance with my brokers vary but USD$1,000.00 is the usual minimum balance.\n\nc)    You can still subscribe to the PREMIUM SERVICE without signing up with one of my brokers but please note there is NO TRADING BONUS provided.\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>7. If I am interested and I want to subscribe what do I do next?</strong></span>\n\nIf you are happy with all the above and want to move forward to the next stage, you basically have two options to choose from: -\n<ol>\n	<li>A PREMIUM SERVICE subscription and a separate BROKER account with a TRADING BONUS</li>\n	<li>A PREMIUM SERVICE subscription.</li>\n</ol>\nFor the first option, go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and on my welcome page click on the banner for BLACKWELL GLOBAL. This will lead through an account opening procedure that should take no more than 15-20 minutes maximum. Please note you will need to scan or fax Photo ID plus a recent (within 3 months) utility bill confirming your address.\nIt takes about 72 hours for the broker account to fully up and running, basically as fast as you can transfer money. Once this is complete, I will contact you about and organize your TRADING BONUS.\n\nThe bonus amount added is calculated on a scale depending on how much you transfer to open your account as follows: - (From $500 to $999.99 = 20% and from $1,000 through to $10,000 = 30%, for amounts in excess of $10,000 the ceiling is a flat payment of $3,000)\n\nFor both the First and Second options subscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SIGN-UP at the top of the page to subscribe. Choose the period that you want to subscribe for, 10, 20 or 40 weeks. You pick your password, ID etc. You will require a PayPal account to complete your subscription.\n\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\n\n&nbsp;\n\nScott Pickering\nThe Pip Accumulator\npremiumservice@weeklyfxdrivethru.com\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com\n</a>1st July 2014','WHY IS SUBSCRIBING TO THE PREMIUM SERVICE A GOOD IDEA?','','inherit','open','closed','','4005-autosave-v1','','','2014-07-01 04:01:59','2014-07-01 09:01:59','',4005,'https://weeklyfxdrivethru.com/4005-autosave-v1/',0,'revision','',0),(4020,1,'2014-06-30 20:35:35','2014-07-01 01:35:35','<span style=\"text-decoration: underline;\"><strong>CONTENTS:</strong></span>\r\n\r\n<strong>1. What is the PREMIUM SERVICE?</strong>\r\n\r\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\r\n\r\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\r\n\r\n<strong>4. How does the PREMIUM SERVICE work and what do you get?</strong>\r\n\r\n<strong>5. The PREMIUM SERVICE - Results to June 30<sup>th</sup> 2014. (Plus chart with subscription and broker option)\r\n</strong>\r\n\r\n<strong>6. Trading Bonus.</strong>\r\n\r\n<strong>7. If I am interested and I want to subscribe what do I do next?</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. What is the PREMIUM SERVICE?</strong></span>\r\n\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups, as they happen plus my thoughts and views on the Forex market.\r\n\r\nOver the following few paragraphs I am hoping that I will convince to you that having a subscription to the PREMIUM SERVICE is not only a shrewd trading decision but also a shrewd business decision.<strong> </strong>\r\n\r\n<strong>\r\n<span style=\"text-decoration: underline;\">2. How did the PREMIUM SERVICE evolve?</span></strong>\r\n\r\nI started trading Forex about 7 years ago. Like many new traders I thought that the Forex Market was: -\r\n\r\na)    An easy way to add an additional income stream into my family’s monthly finances.\r\n\r\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\r\n\r\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotted potential moves.\r\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\r\n\r\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus. I\r\n\r\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained.\r\n\r\nThe PREMIUM SERVICE is now 6 months old and it has been more successful than I had anticipated, feedback is better than I had originally hoped and my profits are above my original goals. I am to coin a phrase…. absolutely delighted.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong></span>\r\n\r\nThe PREMIUM SERVICE attracts many different traders at different levels of experience.\r\n<ul>\r\n	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream.</li>\r\n	<li>AN INTERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\r\n	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\r\n	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\r\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. How does the PREMIUM SERVICE work and what do you get?</strong></span>\r\n\r\nFirstly, it is NOT an automated system.\r\n\r\nI provide trade set-ups and trades that are on “MY RADAR” to you via the PREMIUM SERVICE version of THE WEEKLY FX DRIVE THRU each week.\r\n\r\nEach day before 9.00am EDT I post a very brief overview of what I am initially looking at market-wise into the PREMIUM SERVICE exclusive area of my website called THE DAILY FX POST, which some day’s can be nothing, and also if trades are on my radar they are posted into this daily blog. It is not a guarantee of trade-set ups because some days there are no trades.\r\n\r\nIf I see a trade that interests me, I post trade set-ups, it is up to you if you decide to follow them or not.\r\n\r\nFinally, PREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nI also provide bespoke training for subscribers, if they want it. This is priced individually based upon each individual’s needs, timings and requirements.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>5. THE PREMIUM SERVICE – Results to JUNE 30<sup>th</sup> 2014:</strong></span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe the chart below shows the results year to date including the PREMIUM SERVICE. Subscription and separate broker option.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nFrom the chart above I want to make the following comments to clarify a few points.\r\n\r\na)    All of the trading profits above in the excel spreadsheet are based upon trade set-ups provided solely through the PREMIUM SERVICE.\r\n\r\nb)    All the trades undertaken are based upon single lot trades, whether they are MICRO, MINI or STANDARD lots. If you maintain a larger balance with your broker and can operate with a greater RISK MANAGEMENT tolerance you will be able to trade multi-lot trades. Obviously the profitable trades will be more profitable and the loss trades would incur greater losses. Trading with multi-lot positions would mean that the net overall position would be substantially greater than those shown in the excel spreadsheet above\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>6. Trading Bonus:</strong></span>\r\n\r\na)    There is also a trading bonus which can only be given if you chose to open an account or an additional account with a broker from my website that I have a marketing arrangement with at the time of joining the PREMIUM SERVICE.\r\n\r\nb)    The minimum start-up balance with my brokers vary but USD$1,000.00 is the usual minimum balance.\r\n\r\nc)    You can still subscribe to the PREMIUM SERVICE without signing up with one of my brokers but please note there is NO TRADING BONUS provided.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>7. If I am interested and I want to subscribe what do I do next?</strong></span>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, you basically have two options to choose from: -\r\n<ol>\r\n	<li>A PREMIUM SERVICE subscription and a separate BROKER account with a TRADING BONUS</li>\r\n	<li>A PREMIUM SERVICE subscription.</li>\r\n</ol>\r\nFor the first option, go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and on my welcome page click on the banner for BLACKWELL GLOBAL. This will lead through an account opening procedure that should take no more than 15-20 minutes maximum. Please note you will need to scan or fax Photo ID plus a recent (within 3 months) utility bill confirming your address.\r\nIt takes about 72 hours for the broker account to fully up and running, basically as fast as you can transfer money. Once this is complete, I will contact you about and organize your TRADING BONUS.\r\n\r\nThe bonus amount added is calculated on a scale depending on how much you transfer to open your account as follows: - (From $500 to $999.99 = 20% and from $1,000 through to $10,000 = 30%, for amounts in excess of $10,000 the ceiling is a flat payment of $3,000)\r\n\r\nFor both the First and Second options subscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SIGN-UP at the top of the page to subscribe. Choose the period that you want to subscribe for, 10, 20 or 40 weeks. You pick your password, ID etc. You will require a PayPal account to complete your subscription.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\npremiumservice@weeklyfxdrivethru.com\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com\r\n</a>1st July 2014','WHY IS SUBSCRIBING TO THE PREMIUM SERVICE IS A GOOD IDEA?','','inherit','open','closed','','4005-revision-v1','','','2014-06-30 20:35:35','2014-07-01 01:35:35','',4005,'https://weeklyfxdrivethru.com/4005-revision-v1/',0,'revision','',0),(4021,1,'2014-06-30 20:41:23','2014-07-01 01:41:23','<span style=\"text-decoration: underline;\"><strong>CONTENTS:</strong></span>\r\n\r\n<strong>1. What is the PREMIUM SERVICE?</strong>\r\n\r\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\r\n\r\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\r\n\r\n<strong>4. How does the PREMIUM SERVICE work and what do you get?</strong>\r\n\r\n<strong>5. The PREMIUM SERVICE - Results to June 30<sup>th</sup> 2014. (Plus chart with subscription and broker option)\r\n</strong>\r\n\r\n<strong>6. Trading Bonus.</strong>\r\n\r\n<strong>7. If I am interested and I want to subscribe what do I do next?</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. What is the PREMIUM SERVICE?</strong></span>\r\n\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups, as they happen plus my thoughts and views on the Forex market.\r\n\r\nOver the following few paragraphs I am hoping that I will convince to you that having a subscription to the PREMIUM SERVICE is not only a shrewd trading decision but also a shrewd business decision.<strong> </strong>\r\n\r\n<strong>\r\n<span style=\"text-decoration: underline;\">2. How did the PREMIUM SERVICE evolve?</span></strong>\r\n\r\nI started trading Forex about 7 years ago. Like many new traders I thought that the Forex Market was: -\r\n\r\na)    An easy way to add an additional income stream into my family’s monthly finances.\r\n\r\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\r\n\r\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotted potential moves.\r\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\r\n\r\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus. I\r\n\r\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained.\r\n\r\nThe PREMIUM SERVICE is now 6 months old and it has been more successful than I had anticipated, feedback is better than I had originally hoped and my profits are above my original goals. I am to coin a phrase…. absolutely delighted.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong></span>\r\n\r\nThe PREMIUM SERVICE attracts many different traders at different levels of experience.\r\n<ul>\r\n	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream.</li>\r\n	<li>AN INTERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\r\n	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\r\n	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\r\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. How does the PREMIUM SERVICE work and what do you get?</strong></span>\r\n\r\nFirstly, it is NOT an automated system.\r\n\r\nI provide trade set-ups and trades that are on “MY RADAR” to you via the PREMIUM SERVICE version of THE WEEKLY FX DRIVE THRU each week.\r\n\r\nEach day before 9.00am EDT I post a very brief overview of what I am initially looking at market-wise into the PREMIUM SERVICE exclusive area of my website called THE DAILY FX POST, which some day’s can be nothing, and also if trades are on my radar they are posted into this daily blog. It is not a guarantee of trade-set ups because some days there are no trades.\r\n\r\nIf I see a trade that interests me, I post trade set-ups, it is up to you if you decide to follow them or not.\r\n\r\nFinally, PREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nI also provide bespoke training for subscribers, if they want it. This is priced individually based upon each individual’s needs, timings and requirements.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>5. THE PREMIUM SERVICE – Results to JUNE 30<sup>th</sup> 2014:</strong></span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe chart below shows the results year to date including the PREMIUM SERVICE. Subscription and separate broker option.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nFrom the chart above I want to make the following comments to clarify a few points.\r\n\r\na)    All of the trading profits above in the excel spreadsheet are based upon trade set-ups provided solely through the PREMIUM SERVICE.\r\n\r\nb)    All the trades undertaken are based upon single lot trades, whether they are MICRO, MINI or STANDARD lots. If you maintain a larger balance with your broker and can operate with a greater RISK MANAGEMENT tolerance you will be able to trade multi-lot trades. Obviously the profitable trades will be more profitable and the loss trades would incur greater losses. Trading with multi-lot positions would mean that the net overall position would be substantially greater than those shown in the excel spreadsheet above\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>6. Trading Bonus:</strong></span>\r\n\r\na)    There is also a trading bonus which can only be given if you chose to open an account or an additional account with a broker from my website that I have a marketing arrangement with at the time of joining the PREMIUM SERVICE.\r\n\r\nb)    The minimum start-up balance with my brokers vary but USD$1,000.00 is the usual minimum balance.\r\n\r\nc)    You can still subscribe to the PREMIUM SERVICE without signing up with one of my brokers but please note there is NO TRADING BONUS provided.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>7. If I am interested and I want to subscribe what do I do next?</strong></span>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, you basically have two options to choose from: -\r\n<ol>\r\n	<li>A PREMIUM SERVICE subscription and a separate BROKER account with a TRADING BONUS</li>\r\n	<li>A PREMIUM SERVICE subscription.</li>\r\n</ol>\r\nFor the first option, go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and on my welcome page click on the banner for BLACKWELL GLOBAL. This will lead through an account opening procedure that should take no more than 15-20 minutes maximum. Please note you will need to scan or fax Photo ID plus a recent (within 3 months) utility bill confirming your address.\r\nIt takes about 72 hours for the broker account to fully up and running, basically as fast as you can transfer money. Once this is complete, I will contact you about and organize your TRADING BONUS.\r\n\r\nThe bonus amount added is calculated on a scale depending on how much you transfer to open your account as follows: - (From $500 to $999.99 = 20% and from $1,000 through to $10,000 = 30%, for amounts in excess of $10,000 the ceiling is a flat payment of $3,000)\r\n\r\nFor both the First and Second options subscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SIGN-UP at the top of the page to subscribe. Choose the period that you want to subscribe for, 10, 20 or 40 weeks. You pick your password, ID etc. You will require a PayPal account to complete your subscription.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\npremiumservice@weeklyfxdrivethru.com\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com\r\n</a>1st July 2014','WHY IS SUBSCRIBING TO THE PREMIUM SERVICE IS A GOOD IDEA?','','inherit','open','closed','','4005-revision-v1','','','2014-06-30 20:41:23','2014-07-01 01:41:23','',4005,'https://weeklyfxdrivethru.com/4005-revision-v1/',0,'revision','',0),(4022,1,'2014-07-01 04:03:09','2014-07-01 09:03:09','<span style=\"text-decoration: underline;\"><strong>CONTENTS:</strong></span>\r\n\r\n<strong>1. What is the PREMIUM SERVICE?</strong>\r\n\r\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\r\n\r\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\r\n\r\n<strong>4. How does the PREMIUM SERVICE work and what do you get?</strong>\r\n\r\n<strong>5. The PREMIUM SERVICE - Results to June 30<sup>th</sup> 2014. (Plus chart with subscription and broker option)\r\n</strong>\r\n\r\n<strong>6. Trading Bonus.</strong>\r\n\r\n<strong>7. If I am interested and I want to subscribe what do I do next?</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. What is the PREMIUM SERVICE?</strong></span>\r\n\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups, as they happen plus my thoughts and views on the Forex market.\r\n\r\nOver the following few paragraphs I am hoping that I will convince to you that having a subscription to the PREMIUM SERVICE is not only a shrewd trading decision but also a shrewd business decision.<strong> </strong>\r\n\r\n<strong>\r\n<span style=\"text-decoration: underline;\">2. How did the PREMIUM SERVICE evolve?</span></strong>\r\n\r\nI started trading Forex about 7 years ago. Like many new traders I thought that the Forex Market was: -\r\n\r\na)    An easy way to add an additional income stream into my family’s monthly finances.\r\n\r\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\r\n\r\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotted potential moves.\r\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\r\n\r\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus. I\r\n\r\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained.\r\n\r\nThe PREMIUM SERVICE is now 6 months old and it has been more successful than I had anticipated, feedback is better than I had originally hoped and my profits are above my original goals. I am to coin a phrase…. absolutely delighted.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong></span>\r\n\r\nThe PREMIUM SERVICE attracts many different traders at different levels of experience.\r\n<ul>\r\n	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream.</li>\r\n	<li>AN INTERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\r\n	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\r\n	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\r\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. How does the PREMIUM SERVICE work and what do you get?</strong></span>\r\n\r\nFirstly, it is NOT an automated system.\r\n\r\nI provide trade set-ups and trades that are on “MY RADAR” to you via the PREMIUM SERVICE version of THE WEEKLY FX DRIVE THRU each week.\r\n\r\nEach day before 9.00am EDT I post a very brief overview of what I am initially looking at market-wise into the PREMIUM SERVICE exclusive area of my website called THE DAILY FX POST, which some day’s can be nothing, and also if trades are on my radar they are posted into this daily blog. It is not a guarantee of trade-set ups because some days there are no trades.\r\n\r\nIf I see a trade that interests me, I post trade set-ups, it is up to you if you decide to follow them or not.\r\n\r\nFinally, PREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nI also provide bespoke training for subscribers, if they want it. This is priced individually based upon each individual’s needs, timings and requirements.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>5. THE PREMIUM SERVICE – Results to JUNE 30<sup>th</sup> 2014:</strong></span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe chart below shows the results year to date including a PREMIUM SERVICE subscription and separate broker option.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nFrom the chart above I want to make the following comments to clarify some points.\r\n\r\na)    All of the trading profits above in the excel spreadsheet are based upon trade set-ups provided solely through the PREMIUM SERVICE.\r\n\r\nb)    All the trades undertaken are based upon single lot trades, whether they are MICRO, MINI or STANDARD lots. If you maintain a larger balance with your broker and can operate with a greater RISK MANAGEMENT tolerance you will be able to trade multi-lot trades. Obviously the profitable trades will be more profitable and the loss trades would incur greater losses. Trading with multi-lot positions would mean that the net overall position would be substantially greater than those shown in the excel spreadsheet above\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>6. Trading Bonus:</strong></span>\r\n\r\na)    There is also a trading bonus which can only be given if you chose to open an account or an additional account with a broker from my website that I have a marketing arrangement with at the time of joining the PREMIUM SERVICE.\r\n\r\nb)    The minimum start-up balance with my brokers vary but USD$1,000.00 is the usual minimum balance.\r\n\r\nc)    You can still subscribe to the PREMIUM SERVICE without signing up with one of my brokers but please note there is NO TRADING BONUS provided.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>7. If I am interested and I want to subscribe what do I do next?</strong></span>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, you basically have two options to choose from: -\r\n<ol>\r\n	<li>A PREMIUM SERVICE subscription and a separate BROKER account with a TRADING BONUS</li>\r\n	<li>A PREMIUM SERVICE subscription.</li>\r\n</ol>\r\nFor the first option, go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and on my welcome page click on the banner for BLACKWELL GLOBAL. This will lead through an account opening procedure that should take no more than 15-20 minutes maximum. Please note you will need to scan or fax Photo ID plus a recent (within 3 months) utility bill confirming your address.\r\nIt takes about 72 hours for the broker account to fully up and running, basically as fast as you can transfer money. Once this is complete, I will contact you about and organize your TRADING BONUS.\r\n\r\nThe bonus amount added is calculated on a scale depending on how much you transfer to open your account as follows: - (From $500 to $999.99 = 20% and from $1,000 through to $10,000 = 30%, for amounts in excess of $10,000 the ceiling is a flat payment of $3,000)\r\n\r\nFor both the First and Second options subscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SIGN-UP at the top of the page to subscribe. Choose the period that you want to subscribe for, 10, 20 or 40 weeks. You pick your password, ID etc. You will require a PayPal account to complete your subscription.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\npremiumservice@weeklyfxdrivethru.com\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com\r\n</a>1st July 2014','WHY IS SUBSCRIBING TO THE PREMIUM SERVICE A GOOD IDEA?','','inherit','open','closed','','4005-revision-v1','','','2014-07-01 04:03:09','2014-07-01 09:03:09','',4005,'https://weeklyfxdrivethru.com/4005-revision-v1/',0,'revision','',0),(4023,1,'2014-07-01 07:22:20','2014-07-01 12:22:20','Good Day everyone,\r\n\r\nI felt that the RBA news last night was a little disappointing, Stevens once again re-iterated that the AUD exchange rates are  too high in the opinion of the RBA but did not really much else. I think the markets are a little tired of verbal intervention, especially as Stevens stated his \"it\'s too high\" when the AUD/USD sat at 0.9000...we are now above 0.9450!!\r\n\r\nI did not take a trade, I had a limit order set to start a new short trade at 0.9480 that timed out at 8.00am this morning EDT. If I re-do this I will tweet.\r\n\r\nGBP and EUR continue to press higher and I took two long trades on pullbacks a few minutes ago (via TWITTER):\r\n\r\nFT148\r\nGBP/USD\r\nLONG\r\nENTRY 1.7141\r\nSTOP 1.7110\r\nLIMIT 1.7175\r\n\r\nFT149\r\nEUR/USD\r\nLONG\r\nENTRY at 1.3686\r\nSTOP 1.3658\r\nLIMIT 1.3735\r\n\r\nI am not looking to enter anything else, I am still on close down mode ahead of Thursday..I really want to be as close to just a couple of trades as possible. Definitely no JPY and no EUR or GBP related trades.\r\n\r\nEUR/GBP now in profit finally and CAD/JPY finally moves in my direction.\r\n\r\nEverything looks pretty flat to me nothing is leaping off the page anyway.\r\n\r\n&nbsp;\r\n\r\nGood Luck, I will tweet if I do anything trade wise..\r\n\r\nScott','#61 - THE DAILY FX POST, Tuesday 1st July 2014','','inherit','open','closed','','4012-revision-v1','','','2014-07-01 07:22:20','2014-07-01 12:22:20','',4012,'https://weeklyfxdrivethru.com/4012-revision-v1/',0,'revision','',0),(4024,1,'2014-07-02 06:30:10','2014-07-02 11:30:10','Good Day,\r\n\r\nI don\'t know whether to say thank God for the World Cup because the market is so slow, or is this sporting event the major contributor to the summer doldrums being with us a few weeks ahead of itself?\r\n\r\nThis market is killing me. Yesterday all day for +18 pips GBP/USD, and a loss overnight in EUR/USD of - 28 pips. I covered as a pre-caution late last night EDT the EUR/GBP short to balance out the three-way trade. It is so slow it\'s unreal.\r\n\r\nI am still cutting out trades ahead of tonight\'s news and tomorrow....\r\n\r\nNothing much is happening at the moment, I need to keep checking my internet connection!!\r\n\r\nI am LIVE in the following trades: -\r\n<p style=\"text-align: left;\"><strong>GBP/NZD - long (Hedged)</strong></p>\r\n<p style=\"text-align: left;\"><strong>EUR/AUD - long </strong></p>\r\n<p style=\"text-align: left;\"><strong>AUD/NZD - long</strong></p>\r\n<p style=\"text-align: left;\"><strong>AUD/USD - short</strong></p>\r\n<p style=\"text-align: left;\"><strong>NZD/USD - short</strong></p>\r\nADT payrolls and Janet Yellen speaks later in the U.S. session and tonight we have a plethora of AUD data and CNY PMi report.\r\n\r\nI am hoping that Glenn Stevens will talk down the AUD tonight. I am well hedged within AUD pairs for whatever track he takes. I hope to be on top of these trades before tomorrow morning ahead of the NFP.\r\n\r\n&nbsp;\r\n\r\nI am sorry that I am not giving out much in these posts at the moment, but there really is nothing to trade. I forced two trades yesterday, I made a small profit overall but really...is it worth it at the moment?\r\n\r\nScott','#62 - THE DAILY FX POST, Wednesday 2nd July 2014.','','publish','open','closed','','62-daily-fx-post-wednesday-2nd-july-2014','','','2014-07-02 06:30:10','2014-07-02 11:30:10','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4024',0,'member_posts','',0),(4025,1,'2014-07-02 06:29:57','2014-07-02 11:29:57','Good Day,\r\n\r\nI don\'t know whether to say thank God for the World Cup because the market is so slow, or is this sporting event the major contributor to the summer doldrums being with us a few weeks ahead of itself?\r\n\r\nThis market is killing me. Yesterday all day for +18 pips GBP/USD, and a loss overnight in EUR/USD of - 28 pips. I covered as a pre-caution late last night EDT the EUR/GBP short to balance out the three-way trade. It is so slow it\'s unreal.\r\n\r\nI am still cutting out trades ahead of tonight\'s news and tomorrow....\r\n\r\nNothing much is happening at the moment, I need to keep checking my internet connection!!\r\n\r\nI am LIVE in the following trades: -\r\n<p style=\"text-align: left;\"><strong>GBP/NZD - long (Hedged)</strong></p>\r\n<p style=\"text-align: left;\"><strong>EUR/AUD - long </strong></p>\r\n<p style=\"text-align: left;\"><strong>AUD/NZD - long</strong></p>\r\n<p style=\"text-align: left;\"><strong>AUD/USD - short</strong></p>\r\n<p style=\"text-align: left;\"><strong>NZD/USD - short</strong></p>\r\nADT payrolls and Janet Yellen speaks later in the U.S. session and tonight we have a plethora of AUD data and CNY PMi report.\r\n\r\nI am hoping that Glenn Stevens will talk down the AUD tonight. I am well hedged within AUD pairs for whatever track he takes. I hope to be on top of these trades before tomorrow morning ahead of the NFP.\r\n\r\n&nbsp;\r\n\r\nI am sorry that I am not giving out much in these posts at the moment, but there really is nothing to trade. I forced two trades yesterday, I made a small profit overall but really...is it worth it at the moment?\r\n\r\nScott','#62 - THE DAILY FX POST, Wednesday 2nd July 2014.','','inherit','open','closed','','4024-revision-v1','','','2014-07-02 06:29:57','2014-07-02 11:29:57','',4024,'https://weeklyfxdrivethru.com/4024-revision-v1/',0,'revision','',0),(4027,1,'2014-07-03 06:00:48','2014-07-03 11:00:48','Good Day everyone,\r\n\r\nThe bid day is finally here an ECB Press Conference and U.S. Non Farm Payrolls. The North American session closes at 1PM today so it is a very quick \"wham -bam\" of a day. I am also conscious that many traders are already away for the 4th July vacation. This means lower liquidity and potential for wild moves. I am at this stage 50-50 whether I trade or not.\r\n\r\nLast evening (for me) I traded (scalped), the AUD/USD short and added to my EUR/AUD long and also added to my AUD/USD short, it was too fast and furious to tweet at the same time, but I made my weeks goals in about 15 minutes. Earlier I forgot to wake up on-time for SEK news and missed the Riksbank cut rates by 0.50%. (Here is my best ever wooda...coulda...shoulda...had I left my trades in the USDSEK, EURSEK and USDNOK  in play from last week over 4,000 pips would have been in the total move had I closed them after the news had settled).  The USD/SEK moved by a staggering 2% on the rate cut over 1,400 pips  on the news alone.','#63 - THE DAILY FX POST, Thursday July 3rd 2013.','','inherit','open','closed','','4026-revision-v1','','','2014-07-03 06:00:48','2014-07-03 11:00:48','',4026,'https://weeklyfxdrivethru.com/4026-revision-v1/',0,'revision','',0),(4028,1,'2014-07-03 06:29:35','2014-07-03 11:29:35','Good Day everyone,\r\n\r\nThe bid day is finally here an ECB Press Conference and U.S. Non Farm Payrolls. The North American session closes at 1PM today so it is a very quick \"wham -bam\" of a day. I am also conscious that many traders are already away for the 4th July vacation. This means lower liquidity and potential for wild moves. I am at this stage 50-50 whether I trade or not.\r\n\r\nLast evening (for me) I traded (scalped), the AUD/USD short and added to my EUR/AUD long and also added to my AUD/USD short, it was too fast and furious to tweet at the same time, but I made my weeks goals in about 15 minutes. Earlier I forgot to wake up on-time for SEK news and missed the Riksbank cut rates by 0.50%. (Here is my best ever wooda...coulda...shoulda...had I left my trades in the USDSEK, EURSEK and USDNOK  in play from last week over 4,000 pips would have been in the total move had I closed them after the news had settled).  The USD/SEK moved by a staggering 2% on the rate cut over 1,400 pips  on the news alone.\r\n\r\nBack to today; how much will Draghi attempt verbal intervention to talk down the EUR fair value? Will NFP beat the circa 215,000 new jobs gaol? Will the Unemployment Rate rise and will the hourly rate go down?....Lots of questions. It is difficult to trade these news events combined, so if you are going to trade I would highly recommend waiting a little to review after the knee jerk reactions.\r\n\r\nThe more I write and think about today the more the likelihood that I will not trade.\r\n\r\nI do have this feeling that the ECB news may be quite forward today, Draghi will have to try verbal intervention as his policies from last month have NOT done a thing. He will have to bring forward his timetable for other measures. But as I have said so many times, he needs to act rather than talk...talk is cheap.\r\n\r\n<span style=\"text-decoration: underline;\">TRADES ON MY RADAR:</span>\r\n\r\nI am looking at the GBP and CAD related trades, especially the following and if I do tweet trades or set-ups they will probably be based around the following pairs: -\r\n\r\nGBP/USD\r\nGBP/CHF\r\nEUR/GBP\r\nUSD/CAD\r\nEUR/CAD\r\nGBP/CAD\r\nUSD/SEK\r\nUSD/NOK\r\nEUR/SEK\r\n\r\nAs stated, I may just watch today.\r\n\r\n<span style=\"text-decoration: underline;\">LIVE TRADES STILL IN PLAY:</span>\r\n\r\nNZD/USD - Short\r\nGBP/NZD - Long\r\nAUD/NZD - Long\r\nAUD/USD - Short\r\n\r\nGood luck today,\r\n\r\nScott','#63 - THE DAILY FX POST, Thursday July 3rd 2013.','','inherit','open','closed','','4026-revision-v1','','','2014-07-03 06:29:35','2014-07-03 11:29:35','',4026,'https://weeklyfxdrivethru.com/4026-revision-v1/',0,'revision','',0),(4029,1,'2014-07-03 06:30:37','2014-07-03 11:30:37','Good Day everyone,\r\n\r\nThe bid day is finally here an ECB Press Conference and U.S. Non Farm Payrolls. The North American session closes at 1PM today so it is a very quick \"wham -bam\" of a day. I am also conscious that many traders are already away for the 4th July vacation. This means lower liquidity and potential for wild moves. I am at this stage 50-50 whether I trade or not.\r\n\r\nLast evening (for me) I traded (scalped), the AUD/USD short and added to my EUR/AUD long and also added to my AUD/USD short, it was too fast and furious to tweet at the same time, but I made my weeks goals in about 15 minutes. Earlier I forgot to wake up on-time for SEK news and missed the Riksbank cut rates by 0.50%. (Here is my best ever wooda...coulda...shoulda...had I left my trades in the USD/SEK, USD/NOK and EUR/SEK  in play from last week over 4,000 pips would have been in the total move had I closed them after the news had settled).  The USD/SEK moved by a staggering 2% on the rate cut over 1,400 pips  on the news alone.\r\n\r\nBack to today; how much will Draghi attempt verbal intervention to talk down the EUR fair value? Will NFP beat the circa 215,000 new jobs gaol? Will the Unemployment Rate rise and will the hourly rate go down?....Lots of questions. It is difficult to trade these news events combined, so if you are going to trade I would highly recommend waiting a little to review after the knee jerk reactions.\r\n\r\nThe more I write and think about today the more the likelihood that I will not trade.\r\n\r\nI do have this feeling that the ECB news may be quite forward today, Draghi will have to try verbal intervention as his policies from last month have NOT done a thing. He will have to bring forward his timetable for other measures. But as I have said so many times, he needs to act rather than talk...talk is cheap.\r\n\r\n<span style=\"text-decoration: underline;\">TRADES ON MY RADAR:</span>\r\n\r\nI am looking at the GBP and CAD related trades, especially the following and if I do tweet trades or set-ups they will probably be based around the following pairs: -\r\n\r\nGBP/USD\r\nGBP/CHF\r\nEUR/GBP\r\nUSD/CAD\r\nEUR/CAD\r\nGBP/CAD\r\nUSD/SEK\r\nUSD/NOK\r\nEUR/SEK\r\n\r\nAs stated, I may just watch today.\r\n\r\n<span style=\"text-decoration: underline;\">LIVE TRADES STILL IN PLAY:</span>\r\n\r\nNZD/USD - Short\r\nGBP/NZD - Long\r\nAUD/NZD - Long\r\nAUD/USD - Short\r\n\r\nGood luck today,\r\n\r\nScott','#63 - THE DAILY FX POST, Thursday July 3rd 2013.','','inherit','open','closed','','4026-revision-v1','','','2014-07-03 06:30:37','2014-07-03 11:30:37','',4026,'https://weeklyfxdrivethru.com/4026-revision-v1/',0,'revision','',0),(4036,16,'2014-07-04 11:09:56','2014-07-04 16:09:56','<div class=\"one-half first\">\r\n<h3>BLACKWELL GLOBAL</h3>\r\n<a href=\"https://infinitum.blackwellglobal.com/ib_link.action?ct=IB&amp;iaid=12634007&amp;id=3\" target=\"_blank\">\r\n<img src=\"https://infinitum.blackwellglobal.com/mimages/Banner5white.jpg?ct=IB&amp;iaid=12634007&amp;id=3\" alt=\"\" width=\"240\" height=\"400\" border=\"0\" />\r\n</a>\r\n<div class=\"pdf-links\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-MADE-EASY-BLACKWELL-GLOBAL.pdf\">FOREX MADE EASY - BLACKWELL GLOBAL</a>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-ANALYSING-MADE-EASY-BLACKWELL-GLOBALeasy.pdf\">FOREX ANALYSING MADE EASY - BLACKWELL GLOBALeasy</a></div>\r\n</div>\r\n<div class=\"one-half\">\r\n<h3>FXCM</h3>\r\n<p><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\" alt=\"FXCM logo\" width=\"280\" height=\"188\" class=\"alignnone size-full wp-image-4035\" /></a></p>\r\n<p>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CA_SCOTT_PICKERING\" title=\"FXCM canadian link\">FXCM Canada</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CRESCO_CAP_MK_SCOTT_PICKERING\" title=\"FXCM European link\">FXCM Europe</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=LTD_SCOTT_PICKERING\" title=\"FXCM AFRICA ASIA &amp; MIDDLE EAST link\">FXCM AFRICA ASIA &amp; MIDDLE EAST</a></div>\r\n</p>\r\n\r\n</div>','FX Brokers','','inherit','open','closed','','2704-revision-v1','','','2014-07-04 11:09:56','2014-07-04 16:09:56','',2704,'https://weeklyfxdrivethru.com/2704-revision-v1/',0,'revision','',0),(4037,16,'2014-07-04 11:11:36','2014-07-04 16:11:36','<div class=\"one-half first\">\r\n<h3>BLACKWELL GLOBAL</h3>\r\n<a href=\"https://infinitum.blackwellglobal.com/ib_link.action?ct=IB&amp;iaid=12634007&amp;id=3\" target=\"_blank\">\r\n<img src=\"https://infinitum.blackwellglobal.com/mimages/Banner5white.jpg?ct=IB&amp;iaid=12634007&amp;id=3\" alt=\"\" width=\"240\" height=\"400\" border=\"0\" />\r\n</a>\r\n<div class=\"pdf-links\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-MADE-EASY-BLACKWELL-GLOBAL.pdf\">FOREX MADE EASY - BLACKWELL GLOBAL</a>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-ANALYSING-MADE-EASY-BLACKWELL-GLOBALeasy.pdf\">FOREX ANALYSING MADE EASY - BLACKWELL GLOBALeasy</a></div>\r\n</div>\r\n<div class=\"one-half\">\r\n<h3>FXCM</h3>\r\n<p>&nbsp;</p>\r\n<p><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\" alt=\"FXCM logo\" width=\"280\" height=\"188\" class=\"alignnone size-full wp-image-4035\" /></a></p>\r\n<p>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr-demo/?rb=LTD_SCOTT_PICKERING\" title=\"demo account any region\">DEMO ACCOUNT ANY REGION</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CA_SCOTT_PICKERING\" title=\"FXCM canadian link\">FXCM Canada</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CRESCO_CAP_MK_SCOTT_PICKERING\" title=\"FXCM European link\">FXCM Europe</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=LTD_SCOTT_PICKERING\" title=\"FXCM AFRICA ASIA &amp; MIDDLE EAST link\">FXCM AFRICA ASIA &amp; MIDDLE EAST</a></div>\r\n</p>\r\n\r\n</div>','FX Brokers','','inherit','open','closed','','2704-revision-v1','','','2014-07-04 11:11:36','2014-07-04 16:11:36','',2704,'https://weeklyfxdrivethru.com/2704-revision-v1/',0,'revision','',0),(4038,16,'2014-07-04 11:12:44','2014-07-04 16:12:44','<div class=\"one-half first\">\r\n<h3>BLACKWELL GLOBAL</h3>\r\n<a href=\"https://infinitum.blackwellglobal.com/ib_link.action?ct=IB&amp;iaid=12634007&amp;id=3\" target=\"_blank\">\r\n<img src=\"https://infinitum.blackwellglobal.com/mimages/Banner5white.jpg?ct=IB&amp;iaid=12634007&amp;id=3\" alt=\"\" width=\"240\" height=\"400\" border=\"0\" />\r\n</a>\r\n<div class=\"pdf-links\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-MADE-EASY-BLACKWELL-GLOBAL.pdf\">FOREX MADE EASY - BLACKWELL GLOBAL</a>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-ANALYSING-MADE-EASY-BLACKWELL-GLOBALeasy.pdf\">FOREX ANALYSING MADE EASY - BLACKWELL GLOBALeasy</a></div>\r\n</div>\r\n<div class=\"one-half\">\r\n<h3 style=\"margin-bottom:30px;\">FXCM</h3>\r\n<p><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\" alt=\"FXCM logo\" width=\"280\" height=\"188\" class=\"alignnone size-full wp-image-4035\" /></a></p>\r\n<p>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr-demo/?rb=LTD_SCOTT_PICKERING\" title=\"demo account any region\">DEMO ACCOUNT ANY REGION</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CA_SCOTT_PICKERING\" title=\"FXCM canadian link\">FXCM Canada</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CRESCO_CAP_MK_SCOTT_PICKERING\" title=\"FXCM European link\">FXCM Europe</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=LTD_SCOTT_PICKERING\" title=\"FXCM AFRICA ASIA &amp; MIDDLE EAST link\">FXCM AFRICA ASIA &amp; MIDDLE EAST</a></div>\r\n</p>\r\n\r\n</div>','FX Brokers','','inherit','open','closed','','2704-revision-v1','','','2014-07-04 11:12:44','2014-07-04 16:12:44','',2704,'https://weeklyfxdrivethru.com/2704-revision-v1/',0,'revision','',0),(4039,16,'2014-07-04 11:13:30','2014-07-04 16:13:30','<div class=\"one-half first\">\r\n<h3>BLACKWELL GLOBAL</h3>\r\n<a href=\"https://infinitum.blackwellglobal.com/ib_link.action?ct=IB&amp;iaid=12634007&amp;id=3\" target=\"_blank\">\r\n<img src=\"https://infinitum.blackwellglobal.com/mimages/Banner5white.jpg?ct=IB&amp;iaid=12634007&amp;id=3\" alt=\"\" width=\"240\" height=\"400\" border=\"0\" />\r\n</a>\r\n<div class=\"pdf-links\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-MADE-EASY-BLACKWELL-GLOBAL.pdf\">FOREX MADE EASY - BLACKWELL GLOBAL</a>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-ANALYSING-MADE-EASY-BLACKWELL-GLOBALeasy.pdf\">FOREX ANALYSING MADE EASY - BLACKWELL GLOBALeasy</a></div>\r\n</div>\r\n<div class=\"one-half\">\r\n<h3 style=\"margin-bottom:40px;\">FXCM</h3>\r\n<p><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\" alt=\"FXCM logo\" width=\"280\" height=\"188\" class=\"alignnone size-full wp-image-4035\" /></a></p>\r\n<p>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr-demo/?rb=LTD_SCOTT_PICKERING\" title=\"demo account any region\">DEMO ACCOUNT ANY REGION</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CA_SCOTT_PICKERING\" title=\"FXCM canadian link\">FXCM Canada</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CRESCO_CAP_MK_SCOTT_PICKERING\" title=\"FXCM European link\">FXCM Europe</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=LTD_SCOTT_PICKERING\" title=\"FXCM AFRICA ASIA &amp; MIDDLE EAST link\">FXCM AFRICA ASIA &amp; MIDDLE EAST</a></div>\r\n</p>\r\n\r\n</div>','FX Brokers','','inherit','open','closed','','2704-revision-v1','','','2014-07-04 11:13:30','2014-07-04 16:13:30','',2704,'https://weeklyfxdrivethru.com/2704-revision-v1/',0,'revision','',0),(4040,16,'2014-07-04 11:49:08','2014-07-04 16:49:08','<div class=\"one-half first\">\r\n<h3>BLACKWELL GLOBAL</h3>\r\n<a href=\"https://infinitum.blackwellglobal.com/ib_link.action?ct=IB&amp;iaid=12634007&amp;id=3\" target=\"_blank\">\r\n<img src=\"https://infinitum.blackwellglobal.com/mimages/Banner5white.jpg?ct=IB&amp;iaid=12634007&amp;id=3\" alt=\"\" width=\"240\" height=\"400\" border=\"0\" />\r\n</a>\r\n<div class=\"pdf-links\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-MADE-EASY-BLACKWELL-GLOBAL.pdf\">FOREX MADE EASY - BLACKWELL GLOBAL</a>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-ANALYSING-MADE-EASY-BLACKWELL-GLOBALeasy.pdf\">FOREX ANALYSING MADE EASY - BLACKWELL GLOBALeasy</a></div>\r\n</div>\r\n<div class=\"one-half\">\r\n<h3 style=\"margin-bottom:40px;\">FXCM</h3>\r\n<p><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\" alt=\"FXCM logo\" width=\"280\" height=\"188\" class=\"alignnone size-full wp-image-4035\" /></a></p>\r\n<p>Please click on the appropriate link below that corresponds to where you live.\r\nRegretfully, I cannot accept applications from USA residents.</p>\r\n<p><div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr-demo/?rb=LTD_SCOTT_PICKERING\" title=\"demo account any region\">DEMO ACCOUNT ANY REGION</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CA_SCOTT_PICKERING\" title=\"FXCM canadian link\">FXCM Canada</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CRESCO_CAP_MK_SCOTT_PICKERING\" title=\"FXCM European link\">FXCM Europe</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=LTD_SCOTT_PICKERING\" title=\"FXCM AFRICA ASIA &amp; MIDDLE EAST link\">FXCM AFRICA ASIA &amp; MIDDLE EAST</a></div>\r\n</p>\r\n\r\n</div>','FX Brokers','','inherit','open','closed','','2704-revision-v1','','','2014-07-04 11:49:08','2014-07-04 16:49:08','',2704,'https://weeklyfxdrivethru.com/2704-revision-v1/',0,'revision','',0),(4050,1,'2014-07-05 09:41:03','2014-07-05 14:41:03','<strong>1. INTRODUCTION:</strong>\r\n\r\nOn Thursday last week we had a very unusual situation, a Draghi ECB Press Conference and the release of U.S. Non-Farm payrolls on the same day, at the same time, due to the 4<sup>th</sup> July U.S. holiday. The reaction to this potential “Molotov Cocktail” in Forex terms was really rather muted. Many North American traders were already on vacation and the fact that we were already in such low trading volumes anyhow it was a bit of a damp squib event, in my opinion. We only saw minimal moves, nothing extreme at all. I picked up the EUR/GBP short again and for me that was my only new trade. I exited an old AUD/USD short trade on the spike lower, which turned out to be lucky rather than inspired as it bounced back. We did not have the usual drama as it all passed off very peacefully.\r\n\r\nDuring the week we saw Glenn Stevens Governor RBA, talk down the fair value exchange rate regarding the AUD, he actually said the value placed on the currency was more than a couple of cents away from present levels. Given that he first said that the AUD was too strong when the AUD/USD exchange rate was at 0.9000, and he made these latest comments with the AUD/USD at 0.9450, panic mode who knows but definitely uncomfortable for the Australian economy. At the previous level of 0.9000, it was muted that 0.8500 was the aim so that would make it about a 10 cents difference from existing levels. There must be some poor economic data in the pipeline. Retail Sales and the Trade Balance numbers were poor, so if there is continued poor data he will have some help achieving his exchange rate targets….whether in this scenario he can keep his job is debatable.\r\n\r\nWith regards to other Central Bank activity, deflation is still not that far from being the top news item. The Riksbank (SWEDEN), reduced interest rates by 0.50% to 0.25% and caused a 2% rise in the USD/SEK, this was also reflected in the EUR/SEK. Looking around the Central Banks, I think that it is now safe to say that only the BOE and RBNZ are “Hawks” and this will reveal itself in money flows as we move forward, the rest are “Doves” including the FED who’s official line is still Dovish.\r\n\r\n&nbsp;\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n\r\n<strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY  2014 and YEAR to date:</strong>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering the period June 2014 and year to date up to 30<sup>th</sup> June 2014.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\"><img class=\"aligncenter size-full wp-image-4041\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\" alt=\"PREM SERV PROFITS1 05072014\" width=\"454\" height=\"426\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\"><img class=\"aligncenter size-full wp-image-4042\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\" alt=\"PREM SERV PROFITS 2 05072014\" width=\"461\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong>\r\n<p style=\"text-align: center;\"><strong>IS THE FED BEHIND THE CURVE…OR DO THEY SEE SOMETHING WE DON’T?\r\n(I THINK WE ARE BACK TO YET ANOTHER WALL STREET VERSUS MAIN STREET ISSUE)</strong></p>\r\nFor months now, every time I switch on the TV to watch CNBC or listen to Bloomberg or catch Financial news on CNN, I am bombarded with news of how good the U.S. economy is and how most things economic are at the best levels for years, maybe even since 2008. Yet the FED is still dovish. If everything in the garden is so rosy why is the FED months behind the curve or do they see something more than everyone else is looking at?\r\n\r\nTrying to get a handle on all matters U.S. I went to trading economics to pull off some U.S data. There are obviously 5/6 pages of data; I chose what I consider the important ones for me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\"><img class=\"aligncenter size-full wp-image-4043\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\" alt=\"US ECONOMIC DATA 050714\" width=\"410\" height=\"537\" /></a>\r\n\r\nThere are quite a lot of numbers to absorb and I will yield, in the main they are all going the right way. In fact, I found this exercise very interesting to tabulate these numbers.\r\n\r\nSo why is the FED behind the curve, as I believe that it is? Because, if you glance down these numbers 95% look to be moving in the right direction and things appear to be on the up. Sure, there is the odd blip and most countries have data that falls into this category from time to time. Gets me thinking! Back to one of favourite hunting grounds and my thoughts on the FED being behind the curve brings me back to Wall Street versus Main Street. Let me elaborate.\r\n\r\nBusinesses feel good but consumers in the main do not. TV interviews to the general public and social networks all have comment after comment about how the numbers released by the government have little meaning in day-to-day life at the sharp end as a home owner running a house financially. I believe we are still in the Wall Street versus Main Street argument that has repeatedly raised its head since 2008.\r\n\r\nWhat are four things that really matter to Main Street to bring confidence?\r\n<ol>\r\n	<li>(CONSUMER) SPENDING.</li>\r\n	<li>HOUSING.</li>\r\n	<li>PRICE OF FOOD.</li>\r\n	<li>GAS PRICES.</li>\r\n	<li>EMPLOYMENT.</li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">CONSUMER SPENDING:</span>\r\n\r\nI read an article last week on why the equity markets keep grinding up and asking who it is that keeps them moving up bit by bit. There are days when the odd pension fund re-balances holdings but in the main the biggest buyers at the moment are the companies themselves buying back their own stock. Why are they doing this? This is done to serve the Wall Street analysts. If companies buy back stock the earnings per share (EPS) rises and this is a key measurement that deflects any critics off the lack of top line sales income.\r\n\r\nAlthough the statistics are starting to rise the U.S. is still the ultimate consumer driven society. The U.S. shops like no other country in the world. If spending and confidence is down the economy suffers. Right now the effects of food inflation can be felt immediately every week in the grocery bills. This is a direct and an immediate tax straight into the household budget. Consumer confidence, consumer spending and disposable income available on average is up, yet retail sales are down. I believe that when the effects of the recent hike in Gas Prices works its way into these statistics confidence numbers will decrease because consumers will have a fear of spending.\r\n\r\n<span style=\"text-decoration: underline;\">HOUSING:</span>\r\n\r\nOf late we have seen investment companies move in to buy up vacant homes creating shortfalls in places, or so we are told. However, obtaining a mortgage to buy is very, very hard, as the loan criteria have been elevated. If there is NO regular movement of housing and people moving around then all the ancillary employment of Plumbers, Carpenters, Electricians doesn’t happen and spending at Home Depot and Lowe’s doesn’t happen either. Removal companies remain idle. Spending stops. This is probably the most crucial of all spending to monitor, as this turns lack of confidence into lots of confidence when there is some action. Apart from a few pockets dotted around the country housing is still flat.\r\n\r\n<span style=\"text-decoration: underline;\">PRICE OF FOOD:</span>\r\nCommodity prices are up and up, lean hogs; coffee and cattle prices to name but three items are all elevated. This is a direct tax, felt immediately in weekly grocery bills and causes families to cut back on non-essentials. Discretionary spending which the U.S. needs to keep inventories moving comes to a halt.\r\n\r\n<span style=\"text-decoration: underline;\">GAS PRICES:</span>\r\n\r\nWe are now at the highest gas prices in the U.S. since 2008. Need I say more? All over the world fuel costs are an immediate hidden stealth tax that is talked about every day in the news and in bars and coffee shops. If ever there was a dampener on consumer confidence this is it.\r\n\r\n<span style=\"text-decoration: underline;\">EMPLOYMENT:</span>\r\nThe figures released on July 3<sup>rd</sup> now state that over a million new jobs have been created in the U.S. this year alone and that the unemployment rate for the country has now dropped to 6.1%. Just before the numbers were released pundits were saying the new job number would be good but there would be an increase in the percentage because more of the longer-term unemployed that dropped off the system were coming back and registering. Well that never happened. There are debates after debate on exactly what the true unemployment rate is in the U.S. I have read 10%+, 12%+ nobody knows but people including the ex FED chairman Ben Bernanke often referred to the mass exodus of job seekers who give up and take themselves out of the system.\r\nIf you are in a job you want job security, in fairness with the talk about how good things are employed people should feel more secure now as they are being told that the economy is on the up and that businesses are moving forward. I think window dressing, with regards to financial accounts, is taking place, but I do see that the economy is moving forward as well (Window dressing of financial accounts always takes place).\r\n\r\n&nbsp;\r\n\r\nThe only question is if you have a job and you are being told all is great but your living expenses are higher does that give you confidence?\r\n\r\nIn my opinion, the economic business data for now reflects a very positive spin on the U.S. economy. I think that the FED through Janet Yellen see “headwinds” from Main Street coming in very quickly hence their lack of desire to talk about raising interest rates as this would only be another nail in the coffin. The Fed is probably hoping that gas prices at least may fall back down after the holiday weekend and that would be viewed as positive, but I do feel that food inflation is something that the U.S. has not had to fight of late and without being sexist here, the female who tends to hold the purse strings will be savvier on future spending based upon food inflation rather than the male putting gas in the car.\r\n\r\nNow if we add TAPERING into the equation, what does it mean?\r\n\r\nI think in the simplest of terms, for all the money spent by the FED to try and bring down unemployment and boost housing through easing, QE has been a disaster of the first order. All it did was make fat cats on Wall Street, fatter!\r\n\r\nThe FED has to continue with tapering until the end of 2014 as its policy states. If there was no crutch for Wall Street would it survive? In a one word answer YES.\r\n\r\nTapering does not have a massive direct effect on Main Street. Tapering coming to an end does however make Wall Street more commercial and through being more commercial it will look to grow business through sales initiatives and competition, which should induce both consumer confidence and spending.\r\n\r\nIt is a merry-go-round; it is the job of the FED to kick-start the circus ride and get all the participants in place to get on board. It is a delicate operation and needs fine precision. I am a huge critic of central banks; I do not believe a word that governors say most of the time. They are economic with the truth. However, on this occasion I feel that Yellen’s reluctance to turn “Hawk” is justified and I see the headwinds on the horizon.\r\n\r\nWhether these are what the FED has on it’s mind who knows.\r\n\r\nAre there any trades from this data?\r\n\r\nI still haven’t changed my mind about this, as the FED tightens through tapering eventually this has to be reflected in a stronger USD.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong>\r\n\r\n<strong>IS THERE A CASE FOR A SEPARATE BROKER ACCOUNT FOR YOUR PREMIUM SERVICE TRADES?</strong>\r\n\r\nI wanted to review the PREMIUM SERVICE performance so far this year in a little more depth and offer an option to consider.\r\n\r\nWhen I decided that I was going to embark upon the PREMIUM SERVICE edition in June 2013, I initially looked at the types of trades that was doing and the risks that I was taking. I sharpened my pencil and started to trade with two types of trades that I eventually called RADAR (Limit Order) and FLASH (Pullback / Momentum) trades. I added FUNDAMENTAL much later, these are based upon my longer-term views and as you can see I am still not 100% on board with these as yet, I think you call this work in progress.\r\n\r\nI separate my PREMIUM SERVICE trades from personal trades for obvious reporting reasons, but doing this has thrown up a valid reason why maybe all subscribers to the PREMIUM SERVICE should do likewise.\r\n\r\nMeasurement and Performance comparisons are instantaneous. This is not only good for analysis, but also for motivation. The psychological advantage of being able to readily evaluate longer-term trading performance in an instant is a great tool to have a your disposal.\r\n\r\nAt the end of the day, it is consistency that drives profits and account separation makes this crystal clear. My data is broken down even more as certain types of trades are done with specific brokers and specific currency pairs are also with specific brokers. (I am 50% through writing an article on multi-broker trading for this section for some time in the near future)\r\n\r\nThe chart below shows the net performance of trading in either MACRO, MINI or STANDARD lots up to 30<sup>th</sup> June 2014, having a 40 week PREMIUM SERVICE subscription and opening a separate account through BLACKWELL GLOBAL (link on the welcome page of the WEEKLY FX DRIVE THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>) which for the short-term I have a marketing / TRADING BONUS scheme in operation. Basically, the TRADING BONUS covers the cost of the PREMIUM SERVICE subscription. But you must click on the link on my website to qualify for the bonus.\r\n\r\nThe performance is self-explanatory. If ever there was a time to consider this, now is that time.\r\n\r\nI operate my Forex Trading in a business style. For me instant assessment is paramount, it may be the same for you, and if not, maybe you should consider it.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n</strong>\r\n\r\nWhy not open a separate account with me and try it? As long as your initial funding is over USD$1,000.00 you qualify for a 30% TRADING BONUS. The maximum bonus payable is USD$3,000.00. Once your account is 100% open and funded I will organize the TRADING BONUS it takes about 3 to 4 days maximum.\r\n<p style=\"text-align: center;\">Please note an annual subscription is 40 weeks and per year and I do not count the weeks when there is no blog as part of the subscription period.</p>\r\n<em>For example: -</em>\r\n<p style=\"text-align: center;\"><em>A 40-week subscription would in real terms be until this time next year 2015.</em>\r\n<em>A 10-week subscription would end October 18<sup>th</sup> 2014.</em>\r\n<em>A 20-week subscription would end January 24<sup>th</sup> 2015.</em>\r\n<em>(I hope the timelines above make sense)</em></p>\r\nIf any of you have questions about a PREMIUM SERVICE subscription please contact me at premiumservice@weeklyfxdrivethru.com.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT150\r\nEUR/GBP\r\nShort\r\nEntry: 0.7965\r\nStop Loss: 0.8000\r\nLimit / Target: 0.7800\r\nWeekly Closing Price: 0.7920\r\nPosition: +45 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD (This pair is hedged from -100 pips)\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0703\r\nPosition: -122 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8731\r\nPosition: -61 pips\r\n\r\nRT125\r\nEUR/USD\r\nShort\r\nCost Average: 1.3599\r\nStop Loss: 1.3670\r\nLimit: 1.3375\r\nWeekly Closing Price: 1.3594\r\nPosition: +5 pips\r\n\r\nThe 4-hour (240 minute) chart below shows why I have a short trade in this pair, ignoring all the fundamental reasons. As you can see we broke out of the up sloping range pattern and fell below the support trend line. We should re-test the trend line break at some stage and head much lower. Fundamental news is on my side. I like this trade. On the Chart below you will see an alternative trade set up based upon a trend line re-test at 1.3620 with horizontal resistance at 1.3643. You could use these numbers as a limit order with stops just above 1.3650. Targeting 1.3450 or lower to the downside.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014.png\"><img class=\"aligncenter size-large wp-image-4031\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014-1024x504.png\" alt=\"EURUSD 240M 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (This pair is hedged from -150 pips)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9615\r\nPosition: -185 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nThe following trade set-ups listed below are placed with my brokers. The markets are going to be even slower than of late as we are now into the beginning of vacation time. I am not expecting much by way of extended moves, but I am prepared. I see more FLASH trades based on pullbacks in the momentum direction being more prevalent as we move forward. Most of these trades will be advised through twitter.\r\n\r\n<span style=\"text-decoration: underline;\">GBP/USD:</span>\r\n\r\nAs I have tweeted and commented on in DAILY FX POSTS I see the GBP/USD as a buy on the dip currency pair moving forward. ON NFP/ECB Thursday, we dipped to just above 1.7100. The 38% of the recent up move comes in at 1.7092. This is my proposed entry. The 50% retracement is at 1.7060 and I have placed my stop at 1.7050. Will I get these levels?\r\n\r\nCable has been very strong of late but it is not averse to moves that defy comprehension at times so you never know.\r\n\r\nRT126\r\nGBP/USD\r\nShort\r\nEntry: 1.7092\r\nStop: 1.7050\r\nLimit: 1.7300\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4032\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014-1024x504.png\" alt=\"GBPUSD DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n<span style=\"text-decoration: underline;\">USD/CHF:</span>\r\n\r\nI am not sure if am too late to this party or not. There has been big support on many occasions at 0.8910. It gave way recently, then acted as resistance for a day and it is now a fib level and good support once more. My entry long on a pullback is at 0.8910 with my stop just below the trend line support on the chart at 0.8850. My initial target is 0.9110, which has held this pair captive a few times. Should we break through this level and a great deal depends upon the actions of the EUR/USD we could see 0.9350 and 0.9475 again.\r\n\r\nRT127\r\nUSD/CHF\r\nLong\r\nEntry: 0.8910\r\nStop: 0.8850\r\nLimit: 0.9110\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4033\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014-1024x504.png\" alt=\"USDCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF:</span>\r\n\r\nThis pair is the inverted relationship partner of the EUR/GBP. If the CHF moves higher and the GBP rallies at the same time causing the EUR/GBP to fall…this pair could fly higher.\r\n\r\nRT128\r\nGBP/CHF\r\nLong\r\nEntry: 1.5270\r\nStop: 1.5150\r\nLimit: 1.5480\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4034\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014-1024x504.png\" alt=\"GBPCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"text-decoration: underline;\">USD/SEK:</span>\r\n\r\nI have been long so many times this pair over the past few months, and yet I managed to miss the recent 2% move…typical.\r\n\r\nThe chart below shows the very bullish move on back of the Riksbank rate cut and the pullback. A very comforting 38% retracement I have a set-up below, I am hoping that we re-test again before resuming higher.\r\n\r\n(This set-up has not yet been placed my brokers)\r\nUSD/SEK\r\nLong\r\nEntry: 6.8120\r\nStop: 6.7600\r\nLimit: 7.5700\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014.png\"><img class=\"aligncenter size-large wp-image-4049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014-1024x504.png\" alt=\"USDSEK 240MINUTES 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3594.</strong> After Draghi’s rather unconvincing performance last Thursday the EUR/USD started to fall and finally broke through 1.3600. We have still to test 1.3575, but if this pair breaks through this level it opens a move once again to 1.3450. In the PREMIUM SERVICE (Trades on my Radar section), I highlighted a trade based on conservative entries, which is part of my overall resistance level. For resistance it would make sense to say that unless we break above 1.3643 it is still bearish.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.7159</strong>. The charge or slow grind higher as it now appears to be is playing out. I see from years ago the next level of resistance is at 1.7300 and support is 1.7090.\r\n\r\n<strong>AUD/USD: Closing Price 0.9362</strong>. Glenn Stevens the RBA governor talks dirty on currencies and the AUD/USD falls about 70 pips and then consolidates on the back of U.S. equities moving to all time highs in the DOW and S&amp;P. I think that verbal intervention can only be called once and if it doesn’t work to the level you want then you should try another method. The RBA is at this crossroads right now. Looking ahead I see the bull/ bear line in the sand being 0.9330, but we do not get seriously bearish until we break below 0.9210 and resistance lies at 0.9425.\r\n\r\n<strong>NZD/USD: Closing Price 0.8731</strong>. This stubborn pair still will not go down. Milk prices can drop; China data can be patchy but all to no avail. Graeme Wheeler RBNZ governor wants rate increases and a lower exchange rate. Guess what? You can’t have both and the interest rate differential on the Kiwi at 3.25% versus the Aussie at 2.5% is telling, the next higher rate in the western economy is Canada at 1%. There is little chance on carry trades that the Kiwi will lower dramatically sooner unless Wheeler spends millions of dollars directly intervening in the Spot market. We are still within touching distance of all-time highs. My levels are support at 0.8725, then 0.8650 and resistance is 0.8880.\r\n\r\n<strong>USD/CAD: Closing Price 1.0645.</strong> Not too much of a difference in the closing prices week on week. I am not too sure how to play this pair, I thought that I had it in my mind 48 hours ago, but that\'s gone. I am really not too sure what to do. I am looking for a move lower if I were to try a long trade but I would like to see 1.0590 as a support level to buy. Resistance is really at 1.0750.\r\n\r\n<strong>USD/CHF: Closing Price 0.8912</strong>. I posted quite a long viewpoint with a trade set-up on this pair in the trades on my radar section for PREMIUM SERVICE subscribers. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 102.00. </strong>The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 101.50 to 102.60.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong><strong> </strong>\r\n\r\nI have received several emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CHF\r\nGBP/AUD\r\nGBP/CHF\r\nUSD/DKK\r\nUSD/NOK\r\nUSD/SEK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nAUD/CAD\r\nEUR/CAD\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CAD – Building Permits and IVEY PMi.\r\nMONDAY: AUD – NAB Business Confidence.\r\n\r\nTUESDAY: CNY – CPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. Summer has come early this year.\r\n\r\nWe cannot manufacture trades, we can only deal with what we are presented with and that may not be much. We may just have to sit back a bit more or maybe break for the summer sooner than originally thought. There will be trades, but there will be just less of them with smaller moves. We must adjust to this style of market.\r\n\r\nThe Asian markets offer the thinnest of all trading volumes, so with vacations upon us, we really need to be extremely cautious with trading in Asia, as moves will have the ability to be out of the blue and maybe against the trend. Moves in a thin market can be extreme\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <span style=\"text-decoration: underline;\"><strong>NOT</strong></span> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nIn 3 more weeks, I will be on break for 5 weeks from the PREMIUM SERVICE. There will be continued tweets through through both twitter accounts but these will be ad hoc as I take a break like most traders because in real terms there is very little movement. I may or may not do very brief WEEKLY FX DRIVE THRU blogs but after 7 years of trading I have observed there is very little in August except wait for September to start trading again.\r\n\r\nIn the meantime until next week however, keep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nFinally, Premium Service subscribers may note that in the secure website area I have added another broker to mtg list of approved brokers - FXCM. For service related issues SENSUS CAPITAL and IRON FX were removed and so the two brokers brokers for now that are on my recommended list are BLACKWELL GLOBAL and FXCM. At this point in time I only have marketing / Trading Bonuses in place with BLACKWELL GLOBAL. If you require additional information on anything to do with my approved brokers just email me at premium service@weeklyfxdrivethru.com\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 5th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','IS THE FED BEHIND THE CURVE…I THINK IT\'S ANOTHER WALL ST VERSUS MAIN ST','','publish','open','closed','','fed-behind-curvei-think-another-wall-st-versus-main-st','','','2014-07-05 09:41:03','2014-07-05 14:41:03','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4050',0,'member_posts','',0),(4051,1,'2014-07-05 09:38:23','2014-07-05 14:38:23','<strong>1. INTRODUCTION:</strong>\r\n\r\nOn Thursday last week we had a very unusual situation, a Draghi ECB Press Conference and the release of U.S. Non-Farm payrolls on the same day, at the same time, due to the 4<sup>th</sup> July U.S. holiday. The reaction to this potential “Molotov Cocktail” in Forex terms was really rather muted. Many North American traders were already on vacation and the fact that we were already in such low trading volumes anyhow it was a bit of a damp squib event, in my opinion. We only saw minimal moves, nothing extreme at all. I picked up the EUR/GBP short again and for me that was my only new trade. I exited an old AUD/USD short trade on the spike lower, which turned out to be lucky rather than inspired as it bounced back. We did not have the usual drama as it all passed off very peacefully.\r\n\r\nDuring the week we saw Glenn Stevens Governor RBA, talk down the fair value exchange rate regarding the AUD, he actually said the value placed on the currency was more than a couple of cents away from present levels. Given that he first said that the AUD was too strong when the AUD/USD exchange rate was at 0.9000, and he made these latest comments with the AUD/USD at 0.9450, panic mode who knows but definitely uncomfortable for the Australian economy. At the previous level of 0.9000, it was muted that 0.8500 was the objective so that would make it about a 10 cents difference from existing levels. There must be some poor economic data in the pipeline. Retail Sales and the Trade Balance numbers were poor, so if there is continued poor data he will have some help achieving his exchange rate targets….whether in this scenario he can keep his job is debatable.\r\n\r\nWith regards to other Central Bank activity, deflation is still not that far from being the top news item. The Riksbank (SWEDEN), reduced interest rates by 0.50% to 0.25% and caused a 2% rise in the USD/SEK, this was also reflected in the EUR/SEK. Looking around the Central Banks, I think that it is now safe to say that only the BOE and RBNZ are “Hawks” and this will reveal itself in money flows as we move forward, the rest are “Doves” including the FED who’s official line is still Dovish.\r\n\r\n&nbsp;\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n\r\n<strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering the period June 2014 and year to date up to 30<sup>th</sup> June 2014.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\"><img class=\"aligncenter size-full wp-image-4041\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\" alt=\"PREM SERV PROFITS1 05072014\" width=\"454\" height=\"426\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\"><img class=\"aligncenter size-full wp-image-4042\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\" alt=\"PREM SERV PROFITS 2 05072014\" width=\"461\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong>\r\n<p style=\"text-align: center;\"><strong>IS THE FED BEHIND THE CURVE…OR DO THEY SEE SOMETHING WE DON’T?\r\n(I THINK WE ARE BACK TO YET ANOTHER WALL STREET VERSUS MAIN STREET ISSUE)</strong></p>\r\nFor months now, every time I switch on the TV to watch CNBC or listen to Bloomberg or catch Financial news on CNN, I am bombarded with news of how good the U.S. economy is and how most things economic are at the best levels for years, maybe even since 2008. Yet the FED is still dovish. If everything in the garden is so rosy why is the FED months behind the curve or do they see something more than everyone else is looking at?\r\n\r\nTrying to get a handle on all matters U.S. I went to trading economics to pull off some U.S data. There are obviously 5/6 pages of data; I chose what I consider the important ones for me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\"><img class=\"aligncenter size-full wp-image-4043\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\" alt=\"US ECONOMIC DATA 050714\" width=\"410\" height=\"537\" /></a>\r\n\r\nThere are quite a lot of numbers to absorb and I will yield, in the main they are all going the right way. In fact, I found this exercise very interesting to tabulate these numbers.\r\n\r\nSo why is the FED behind the curve, as I believe that it is? Because, if you glance down these numbers 95% look to be moving in the right direction and things appear to be on the up. Sure, there is the odd blip and most countries have data that falls into this category from time to time. Gets me thinking! Back to one of favourite hunting grounds and my thoughts on the FED being behind the curve brings me back to Wall Street versus Main Street. Let me elaborate.\r\n\r\nBusinesses feel good but consumers in the main do not. TV interviews to the general public and social networks all have comment after comment about how the numbers released by the government have little meaning in day-to-day life at the sharp end as a home owner running a house financially. I believe we are still in the Wall Street versus Main Street argument that has repeatedly raised its head since 2008.\r\n\r\nWhat are four things that really matter to Main Street to bring confidence?\r\n<ol>\r\n	<li>(CONSUMER) SPENDING.</li>\r\n	<li>HOUSING.</li>\r\n	<li>PRICE OF FOOD.</li>\r\n	<li>GAS PRICES.</li>\r\n	<li>EMPLOYMENT.</li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">CONSUMER SPENDING:</span>\r\n\r\nI read an article last week on why the equity markets keep grinding up and asking who it is that keeps them moving up bit by bit. There are days when the odd pension fund re-balances holdings but in the main the biggest buyers at the moment are the companies themselves buying back their own stock. Why are they doing this? This is done to serve the Wall Street analysts. If companies buy back stock the earnings per share (EPS) rises and this is a key measurement that deflects any critics off the lack of top line sales income.\r\n\r\nAlthough the statistics are starting to rise the U.S. is still the ultimate consumer driven society. The U.S. shops like no other country in the world. If spending and confidence is down the economy suffers. Right now the effects of food inflation can be felt immediately every week in the grocery bills. This is a direct and an immediate tax straight into the household budget. Consumer confidence, consumer spending and disposable income available on average is up, yet retail sales are down. I believe that when the effects of the recent hike in Gas Prices works its way into these statistics confidence numbers will decrease because consumers will have a fear of spending.\r\n\r\n<span style=\"text-decoration: underline;\">HOUSING:</span>\r\n\r\nOf late we have seen investment companies move in to buy up vacant homes creating shortfalls in places, or so we are told. However, obtaining a mortgage to buy is very, very hard, as the loan criteria have been elevated. If there is NO regular movement of housing and people moving around then all the ancillary employment of Plumbers, Carpenters, Electricians doesn’t happen and spending at Home Depot and Lowe’s doesn’t happen either. Removal companies remain idle. Spending stops. This is probably the most crucial of all spending to monitor, as this turns lack of confidence into lots of confidence when there is some action. Apart from a few pockets dotted around the country housing is still flat.\r\n\r\n<span style=\"text-decoration: underline;\">PRICE OF FOOD:</span>\r\nCommodity prices are up and up, lean hogs; coffee and cattle prices to name but three items are all elevated. This is a direct tax, felt immediately in weekly grocery bills and causes families to cut back on non-essentials. Discretionary spending which the U.S. needs to keep inventories moving comes to a halt.\r\n\r\n<span style=\"text-decoration: underline;\">GAS PRICES:</span>\r\n\r\nWe are now at the highest gas prices in the U.S. since 2008. Need I say more? All over the world fuel costs are an immediate hidden stealth tax that is talked about every day in the news and in bars and coffee shops. If ever there was a dampener on consumer confidence this is it.\r\n\r\n<span style=\"text-decoration: underline;\">EMPLOYMENT:</span>\r\nThe figures released on July 3<sup>rd</sup> now state that over a million new jobs have been created in the U.S. this year alone and that the unemployment rate for the country has now dropped to 6.1%. Just before the numbers were released pundits were saying the new job number would be good but there would be an increase in the percentage because more of the longer-term unemployed that dropped off the system were coming back and registering. Well that never happened. There are debates after debate on exactly what the true unemployment rate is in the U.S. I have read 10%+, 12%+ nobody knows but people including the ex FED chairman Ben Bernanke often referred to the mass exodus of job seekers who give up and take themselves out of the system.\r\nIf you are in a job you want job security, in fairness with the talk about how good things are employed people should feel more secure now as they are being told that the economy is on the up and that businesses are moving forward. I think window dressing, with regards to financial accounts, is taking place, but I do see that the economy is moving forward as well (Window dressing of financial accounts always takes place).\r\n\r\n&nbsp;\r\n\r\nThe only question is if you have a job and you are being told all is great but your living expenses are higher does that give you confidence?\r\n\r\nIn my opinion, the economic business data for now reflects a very positive spin on the U.S. economy. I think that the FED through Janet Yellen see “headwinds” from Main Street coming in very quickly hence their lack of desire to talk about raising interest rates as this would only be another nail in the coffin. The Fed is probably hoping that gas prices at least may fall back down after the holiday weekend and that would be viewed as positive, but I do feel that food inflation is something that the U.S. has not had to fight of late and without being sexist here, the female who tends to hold the purse strings will be savvier on future spending based upon food inflation rather than the male putting gas in the car.\r\n\r\nNow if we add TAPERING into the equation, what does it mean?\r\n\r\nI think in the simplest of terms, for all the money spent by the FED to try and bring down unemployment and boost housing through easing, QE has been a disaster of the first order. All it did was make fat cats on Wall Street, fatter!\r\n\r\nThe FED has to continue with tapering until the end of 2014 as its policy states. If there was no crutch for Wall Street would it survive? In a one word answer YES.\r\n\r\nTapering does not have a massive direct effect on Main Street. Tapering coming to an end does however make Wall Street more commercial and through being more commercial it will look to grow business through sales initiatives and competition, which should induce both consumer confidence and spending.\r\n\r\nIt is a merry-go-round; it is the job of the FED to kick-start the circus ride and get all the participants in place to get on board. It is a delicate operation and needs fine precision. I am a huge critic of central banks; I do not believe a word that governors say most of the time. They are economic with the truth. However, on this occasion I feel that Yellen’s reluctance to turn “Hawk” is justified and I see the headwinds on the horizon.\r\n\r\nWhether these are what the FED has on it’s mind who knows.\r\n\r\nAre there any trades from this data?\r\n\r\nI still haven’t changed my mind about this, as the FED tightens through tapering eventually this has to be reflected in a stronger USD.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong>\r\n\r\n<strong>IS THERE A CASE FOR A SEPARATE BROKER ACCOUNT FOR YOUR PREMIUM SERVICE TRADES?</strong>\r\n\r\nI wanted to review the PREMIUM SERVICE performance so far this year in a little more depth and offer an option to consider.\r\n\r\nWhen I decided that I was going to embark upon the PREMIUM SERVICE addition in June 2013, I initially looked at the types of trades that was doing and the risks that I was taking. I sharpened my pencil and started to trade with two types of trades that I eventually called RADAR (Limit Order) and FLASH (Pullback / Momentum) trades. I added FUNDAMENTAL much later, these are based upon my longer-term views and as you can see I am still not 100% on board with these as yet, I think you call this work in progress.\r\n\r\nI separate my PREMIUM SERVICE trades from personal trades for obvious reporting reasons, but doing this has thrown up a valid reason why maybe all subscribers to the PREMIUM SERVICE should do likewise.\r\n\r\nMeasurement and Performance comparisons are instantaneous. This is not only good for analysis, but also for motivation. The psychological advantage of being able to readily evaluate longer-term trading performance in an instant is a great tool to have a your disposal.\r\n\r\nAt the end of the day, it is consistency that drives profits and account separation makes this crystal clear. My data is broken down even more as certain types of trades are done with specific brokers and specific currency pairs are also with specific brokers. (I am 50% through writing an article on multi-broker trading for this section for some time in the near future)\r\n\r\nThe chart below shows the net performance of trading in either MACRO, MINI or STANDARD lots up to 30<sup>th</sup> June 2014, having a 40 week PREMIUM SERVICE subscription and opening a separate account through BLACKWELL GLOBAL (link on the welcome page of the WEEKLY FX DRIVE THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>) which for the short-term I have a marketing / TRADING BONUS scheme in operation. Basically, the TRADING BONUS covers the cost of the PREMIUM SERVICE subscription. But you must click on the link on my website to qualify for the bonus.\r\n\r\nThe performance is self-explanatory. If ever there was a time to consider this, now is that time.\r\n\r\nI operate my Forex Trading in a business style. For me instant assessment is paramount, it may be the same for you, and if not, maybe you should consider it.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n</strong>\r\n\r\nWhy not open a separate account with me and try it? As long as your initial funding is over USD$1,000.00 you qualify for a 30% TRADING BONUS. The maximum bonus payable is USD$3,000.00. Once your account is 100% open and funded I will organize the TRADING BONUS it takes about 3 to 4 days maximum.\r\n<p style=\"text-align: center;\">Please note an annual subscription is 40 weeks and per year and I do not count the weeks when there is no blog as part of the subscription period.\r\n\r\n<em>For example: -</em></p>\r\n<p style=\"text-align: center;\"><em>A 40-week subscription would in real terms be until this time next year 2015.</em>\r\n<em>A 10-week subscription would end October 18<sup>th</sup> 2014.</em>\r\n<em>A 20-week subscription would end January 24<sup>th</sup> 2015.</em>\r\n<em>(I hope the timelines above make sense)</em></p>\r\nIf any of you have questions about a PREMIUM SERVICE subscription please contact me at premiumservice@weeklyfxdrivethru.com.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT150\r\nEUR/GBP\r\nShort\r\nEntry: 0.7965\r\nStop Loss: 0.8000\r\nLimit / Target: 0.7800\r\nWeekly Closing Price: 0.7920\r\nPosition: +45 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD (This pair is hedged from -100 pips)\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0703\r\nPosition: -122 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8731\r\nPosition: -61 pips\r\n\r\nRT125\r\nEUR/USD\r\nShort\r\nCost Average: 1.3599\r\nStop Loss: 1.3670\r\nLimit: 1.3375\r\nWeekly Closing Price: 1.3594\r\nPosition: +5 pips\r\n\r\nThe 4-hour (240 minute) chart below shows why I have a short trade in this pair, ignoring all the fundamental reasons. As you can see we broke out of the up sloping range pattern and fell below the support trend line. We should re-test the trend line break at some stage and head much lower. Fundamental news is on my side. I like this trade. On the Chart below you will see an alternative trade set up based upon a trend line re-test at 1.3620 with horizontal resistance at 1.3643. You could use these numbers as a limit order with stops just above 1.3650. Targeting 1.3450 or lower to the downside.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014.png\"><img class=\"aligncenter size-large wp-image-4031\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014-1024x504.png\" alt=\"EURUSD 240M 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (This pair is hedged from -150 pips)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9615\r\nPosition: -185 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nThe following trade set-ups listed below are placed with my brokers. The markets are going to be even slower than of late as we are now into the beginning of vacation time. I am not expecting much by way of extended moves, but I am prepared. I see more FLASH trades based on pullbacks in the momentum direction being more prevalent as we move forward. Most of these trades will be advised through twitter.\r\n\r\n<span style=\"text-decoration: underline;\">GBP/USD:</span>\r\n\r\nAs I have tweeted and commented on in DAILY FX POSTS I see the GBP/USD as a buy on the dip currency pair moving forward. ON NFP/ECB Thursday, we dipped to just above 1.7100. The 38% of the recent up move comes in at 1.7092. This is my proposed entry. The 50% retracement is at 1.7060 and I have placed my stop at 1.7050. Will I get these levels?\r\n\r\nCable has been very strong of late but it is not adverse to moves that defy comprehension at times so you never know.\r\n\r\nRT126\r\nGBP/USD\r\nShort\r\nEntry: 1.7092\r\nStop: 1.7050\r\nLimit: 1.7300\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4032\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014-1024x504.png\" alt=\"GBPUSD DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n<span style=\"text-decoration: underline;\">USD/CHF:</span>\r\n\r\nI am not sure if am too late to this party or not. There has been big support on many occasions at 0.8910. It gave way recently, then acted as resistance for a day and it is now a fib level and good support once more. My entry long on a pullback is at 0.8910 with my stop just below the trend line support on the chart at 0.8850. My initial target is 0.9110, which has held this pair captive a few times. Should we break through this level and a great deal depends upon the actions of the EUR/USD we could see 0.9350 and 0.9475 again.\r\n\r\nRT127\r\nUSD/CHF\r\nLong\r\nEntry: 0.8910\r\nStop: 0.8850\r\nLimit: 0.9110\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4033\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014-1024x504.png\" alt=\"USDCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF:</span>\r\n\r\nThis pair is the inverted relationship partner of the EUR/GBP. If the CHF moves higher and the GBP rallies at the same time causing the EUR/GBP to fall…this pair could fly higher.\r\n\r\nRT128\r\nGBP/CHF\r\nLong\r\nEntry: 1.5270\r\nStop: 1.5150\r\nLimit: 1.5480\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4034\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014-1024x504.png\" alt=\"GBPCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"text-decoration: underline;\">USD/SEK:</span>\r\n\r\nI have been long so many times this pair over the past few months, and yet I managed to miss the recent 2% move…typical.\r\n\r\nThe chart below shows the very bullish move on back of the Riksbank rate cut and the pullback. A very comforting 38% retracement I have a set-up below, I am hoping that we re-test again before resuming higher.\r\n\r\n(This set-up has not yet been placed my brokers)\r\nUSD/SEK\r\nLong\r\nEntry: 6.8120\r\nStop: 6.7600\r\nLimit: 7.5700\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014.png\"><img class=\"aligncenter size-large wp-image-4049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014-1024x504.png\" alt=\"USDSEK 240MINUTES 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3594.</strong> After Draghi’s rather unconvincing performance last Thursday the EUR/USD started to fall and finally broke through 1.3600. We have still to test 1.3575, but if this pair breaks through this level it opens a move once again to 1.3450. In the PREMIUM SERVICE (Trades on my Radar section), I highlighted a trade based on conservative entries, which is part of my overall resistance level. For resistance it would make sense to say that unless we break above 1.3643 it is still bearish.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.7159</strong>. The charge or slow grind higher as it now appears to be is playing out. I see from years ago the next level of resistance is at 1.7300 and support is 1.7090.\r\n\r\n<strong>AUD/USD: Closing Price 0.9362</strong>. Glenn Stevens the RBA governor talks dirty on currencies and the AUD/USD falls about 70 pips and then consolidates on the back of U.S. equities moving to all time highs in the DOW and S&amp;P. I think that verbal intervention can only be called once and if it doesn’t work to the level you want then you should try another method. The RBA is at this crossroads right now. Looking ahead I see the bull/ bear line in the sand being 0.9330, but we do not get seriously bearish until we break below 0.9210 and resistance lies at 0.9425.\r\n\r\n<strong>NZD/USD: Closing Price 0.8731</strong>. This stubborn pair still will not go down. Milk prices can drop; China data can be patchy but all to no avail. Graeme Wheeler RBNZ governor wants rate increases and a lower exchange rate. Guess what? You can’t have both and the interest rate differential on the Kiwi at 3.25% versus the Aussie at 2.5% is telling, the next higher rate in the western economy is Canada at 1%. There is little chance on carry trades that the Kiwi will lower dramatically sooner unless Wheeler spends millions of dollars directly intervening in the Spot market. We are still within touching distance of all-time highs. My levels are support at 0.8725, then 0.8650 and resistance is 0.8880.\r\n\r\n<strong>USD/CAD: Closing Price 1.0645.</strong> Not too much of a difference in the closing prices week on week. I am not too sure how to play this pair, I thought that I had it in my mind 48 hours ago, but that\'s gone. I am really not too sure what to do. I am looking for a move lower if I were to try a long trade but I would like to see 1.0590 as a support level to buy. Resistance is really at 1.0750.\r\n\r\n<strong>USD/CHF: Closing Price 0.8912</strong>. I posted quite a long viewpoint with a trade set-up on this pair in the trades on my radar section for PREMIUM SERVICE subscribers. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 102.00. </strong>The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 101.50 to 102.60.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong><strong> </strong>\r\n\r\nI have received several emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CHF\r\nGBP/AUD\r\nGBP/CHF\r\nUSD/DKK\r\nUSD/NOK\r\nUSD/SEK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:\r\n\r\n</span>EUR/USD\r\nEUR/GBP\r\nAUD/CAD\r\nEUR/CAD\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CAD – Building Permits and IVEY PMi.\r\nMONDAY: AUD – NAB Business Confidence.\r\n\r\nTUESDAY: CNY – CPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. Summer has come early this year.\r\n\r\nWe cannot manufacture trades, we can only deal with what we are presented with and that may not be much. We may just have to sit back a bit more or maybe break for the summer sooner than originally thought. There will be trades, but there will be just less of them with smaller moves. We must adjust to this style of market.\r\n\r\nThe Asian markets offer the thinnest of all trading volumes, so with vacations upon us, we really need to be extremely cautious with trading in Asia, as moves will have the ability to be out of the blue and maybe against the trend. Moves in a thin market can be extreme\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <span style=\"text-decoration: underline;\"><strong>NOT</strong></span> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nIn 3 more weeks, I will be on break for 5 weeks from the PREMIUM SERVICE. There will be continued tweets through through both twitter accounts but these will be ad hoc as I take a break like most traders because in real terms there is very little movement. I may or may not do very brief WEEKLY FX DRIVE THRU blogs but after 7 years of trading I have observed there is very little in August except wait for September to start trading again.\r\n\r\nIn the meantime until next week however, keep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nFinally, Premium Service subscribers may note that in the secure website area I have added another broker to mtg list of approved brokers - FXCM. For service related issues SENSUS CAPITAL and IRON FX were removed and so the two brokers brokers for now that are on my recommended list are BLACKWELL GLOBAL and FXCM. At this point in time I only have marketing / Trading Bonuses in place with BLACKWELL GLOBAL. If you requiter additional information on anything to do with my approved brokers just email me at premium service@weeklyfxdrivethru.com\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 5th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','IS THE FED BEHIND THE CURVE…I THINK IT\'S ANOTHER WALL ST VERSUS MAIN ST','','inherit','open','closed','','4050-revision-v1','','','2014-07-05 09:38:23','2014-07-05 14:38:23','',4050,'https://weeklyfxdrivethru.com/4050-revision-v1/',0,'revision','',0),(4052,1,'2014-07-05 09:41:03','2014-07-05 14:41:03','<strong>1. INTRODUCTION:</strong>\r\n\r\nOn Thursday last week we had a very unusual situation, a Draghi ECB Press Conference and the release of U.S. Non-Farm payrolls on the same day, at the same time, due to the 4<sup>th</sup> July U.S. holiday. The reaction to this potential “Molotov Cocktail” in Forex terms was really rather muted. Many North American traders were already on vacation and the fact that we were already in such low trading volumes anyhow it was a bit of a damp squib event, in my opinion. We only saw minimal moves, nothing extreme at all. I picked up the EUR/GBP short again and for me that was my only new trade. I exited an old AUD/USD short trade on the spike lower, which turned out to be lucky rather than inspired as it bounced back. We did not have the usual drama as it all passed off very peacefully.\r\n\r\nDuring the week we saw Glenn Stevens Governor RBA, talk down the fair value exchange rate regarding the AUD, he actually said the value placed on the currency was more than a couple of cents away from present levels. Given that he first said that the AUD was too strong when the AUD/USD exchange rate was at 0.9000, and he made these latest comments with the AUD/USD at 0.9450, panic mode who knows but definitely uncomfortable for the Australian economy. At the previous level of 0.9000, it was muted that 0.8500 was the aim so that would make it about a 10 cents difference from existing levels. There must be some poor economic data in the pipeline. Retail Sales and the Trade Balance numbers were poor, so if there is continued poor data he will have some help achieving his exchange rate targets….whether in this scenario he can keep his job is debatable.\r\n\r\nWith regards to other Central Bank activity, deflation is still not that far from being the top news item. The Riksbank (SWEDEN), reduced interest rates by 0.50% to 0.25% and caused a 2% rise in the USD/SEK, this was also reflected in the EUR/SEK. Looking around the Central Banks, I think that it is now safe to say that only the BOE and RBNZ are “Hawks” and this will reveal itself in money flows as we move forward, the rest are “Doves” including the FED who’s official line is still Dovish.\r\n\r\n&nbsp;\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n\r\n<strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY  2014 and YEAR to date:</strong>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering the period June 2014 and year to date up to 30<sup>th</sup> June 2014.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\"><img class=\"aligncenter size-full wp-image-4041\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\" alt=\"PREM SERV PROFITS1 05072014\" width=\"454\" height=\"426\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\"><img class=\"aligncenter size-full wp-image-4042\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\" alt=\"PREM SERV PROFITS 2 05072014\" width=\"461\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong>\r\n<p style=\"text-align: center;\"><strong>IS THE FED BEHIND THE CURVE…OR DO THEY SEE SOMETHING WE DON’T?\r\n(I THINK WE ARE BACK TO YET ANOTHER WALL STREET VERSUS MAIN STREET ISSUE)</strong></p>\r\nFor months now, every time I switch on the TV to watch CNBC or listen to Bloomberg or catch Financial news on CNN, I am bombarded with news of how good the U.S. economy is and how most things economic are at the best levels for years, maybe even since 2008. Yet the FED is still dovish. If everything in the garden is so rosy why is the FED months behind the curve or do they see something more than everyone else is looking at?\r\n\r\nTrying to get a handle on all matters U.S. I went to trading economics to pull off some U.S data. There are obviously 5/6 pages of data; I chose what I consider the important ones for me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\"><img class=\"aligncenter size-full wp-image-4043\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\" alt=\"US ECONOMIC DATA 050714\" width=\"410\" height=\"537\" /></a>\r\n\r\nThere are quite a lot of numbers to absorb and I will yield, in the main they are all going the right way. In fact, I found this exercise very interesting to tabulate these numbers.\r\n\r\nSo why is the FED behind the curve, as I believe that it is? Because, if you glance down these numbers 95% look to be moving in the right direction and things appear to be on the up. Sure, there is the odd blip and most countries have data that falls into this category from time to time. Gets me thinking! Back to one of favourite hunting grounds and my thoughts on the FED being behind the curve brings me back to Wall Street versus Main Street. Let me elaborate.\r\n\r\nBusinesses feel good but consumers in the main do not. TV interviews to the general public and social networks all have comment after comment about how the numbers released by the government have little meaning in day-to-day life at the sharp end as a home owner running a house financially. I believe we are still in the Wall Street versus Main Street argument that has repeatedly raised its head since 2008.\r\n\r\nWhat are four things that really matter to Main Street to bring confidence?\r\n<ol>\r\n	<li>(CONSUMER) SPENDING.</li>\r\n	<li>HOUSING.</li>\r\n	<li>PRICE OF FOOD.</li>\r\n	<li>GAS PRICES.</li>\r\n	<li>EMPLOYMENT.</li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">CONSUMER SPENDING:</span>\r\n\r\nI read an article last week on why the equity markets keep grinding up and asking who it is that keeps them moving up bit by bit. There are days when the odd pension fund re-balances holdings but in the main the biggest buyers at the moment are the companies themselves buying back their own stock. Why are they doing this? This is done to serve the Wall Street analysts. If companies buy back stock the earnings per share (EPS) rises and this is a key measurement that deflects any critics off the lack of top line sales income.\r\n\r\nAlthough the statistics are starting to rise the U.S. is still the ultimate consumer driven society. The U.S. shops like no other country in the world. If spending and confidence is down the economy suffers. Right now the effects of food inflation can be felt immediately every week in the grocery bills. This is a direct and an immediate tax straight into the household budget. Consumer confidence, consumer spending and disposable income available on average is up, yet retail sales are down. I believe that when the effects of the recent hike in Gas Prices works its way into these statistics confidence numbers will decrease because consumers will have a fear of spending.\r\n\r\n<span style=\"text-decoration: underline;\">HOUSING:</span>\r\n\r\nOf late we have seen investment companies move in to buy up vacant homes creating shortfalls in places, or so we are told. However, obtaining a mortgage to buy is very, very hard, as the loan criteria have been elevated. If there is NO regular movement of housing and people moving around then all the ancillary employment of Plumbers, Carpenters, Electricians doesn’t happen and spending at Home Depot and Lowe’s doesn’t happen either. Removal companies remain idle. Spending stops. This is probably the most crucial of all spending to monitor, as this turns lack of confidence into lots of confidence when there is some action. Apart from a few pockets dotted around the country housing is still flat.\r\n\r\n<span style=\"text-decoration: underline;\">PRICE OF FOOD:</span>\r\nCommodity prices are up and up, lean hogs; coffee and cattle prices to name but three items are all elevated. This is a direct tax, felt immediately in weekly grocery bills and causes families to cut back on non-essentials. Discretionary spending which the U.S. needs to keep inventories moving comes to a halt.\r\n\r\n<span style=\"text-decoration: underline;\">GAS PRICES:</span>\r\n\r\nWe are now at the highest gas prices in the U.S. since 2008. Need I say more? All over the world fuel costs are an immediate hidden stealth tax that is talked about every day in the news and in bars and coffee shops. If ever there was a dampener on consumer confidence this is it.\r\n\r\n<span style=\"text-decoration: underline;\">EMPLOYMENT:</span>\r\nThe figures released on July 3<sup>rd</sup> now state that over a million new jobs have been created in the U.S. this year alone and that the unemployment rate for the country has now dropped to 6.1%. Just before the numbers were released pundits were saying the new job number would be good but there would be an increase in the percentage because more of the longer-term unemployed that dropped off the system were coming back and registering. Well that never happened. There are debates after debate on exactly what the true unemployment rate is in the U.S. I have read 10%+, 12%+ nobody knows but people including the ex FED chairman Ben Bernanke often referred to the mass exodus of job seekers who give up and take themselves out of the system.\r\nIf you are in a job you want job security, in fairness with the talk about how good things are employed people should feel more secure now as they are being told that the economy is on the up and that businesses are moving forward. I think window dressing, with regards to financial accounts, is taking place, but I do see that the economy is moving forward as well (Window dressing of financial accounts always takes place).\r\n\r\n&nbsp;\r\n\r\nThe only question is if you have a job and you are being told all is great but your living expenses are higher does that give you confidence?\r\n\r\nIn my opinion, the economic business data for now reflects a very positive spin on the U.S. economy. I think that the FED through Janet Yellen see “headwinds” from Main Street coming in very quickly hence their lack of desire to talk about raising interest rates as this would only be another nail in the coffin. The Fed is probably hoping that gas prices at least may fall back down after the holiday weekend and that would be viewed as positive, but I do feel that food inflation is something that the U.S. has not had to fight of late and without being sexist here, the female who tends to hold the purse strings will be savvier on future spending based upon food inflation rather than the male putting gas in the car.\r\n\r\nNow if we add TAPERING into the equation, what does it mean?\r\n\r\nI think in the simplest of terms, for all the money spent by the FED to try and bring down unemployment and boost housing through easing, QE has been a disaster of the first order. All it did was make fat cats on Wall Street, fatter!\r\n\r\nThe FED has to continue with tapering until the end of 2014 as its policy states. If there was no crutch for Wall Street would it survive? In a one word answer YES.\r\n\r\nTapering does not have a massive direct effect on Main Street. Tapering coming to an end does however make Wall Street more commercial and through being more commercial it will look to grow business through sales initiatives and competition, which should induce both consumer confidence and spending.\r\n\r\nIt is a merry-go-round; it is the job of the FED to kick-start the circus ride and get all the participants in place to get on board. It is a delicate operation and needs fine precision. I am a huge critic of central banks; I do not believe a word that governors say most of the time. They are economic with the truth. However, on this occasion I feel that Yellen’s reluctance to turn “Hawk” is justified and I see the headwinds on the horizon.\r\n\r\nWhether these are what the FED has on it’s mind who knows.\r\n\r\nAre there any trades from this data?\r\n\r\nI still haven’t changed my mind about this, as the FED tightens through tapering eventually this has to be reflected in a stronger USD.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong>\r\n\r\n<strong>IS THERE A CASE FOR A SEPARATE BROKER ACCOUNT FOR YOUR PREMIUM SERVICE TRADES?</strong>\r\n\r\nI wanted to review the PREMIUM SERVICE performance so far this year in a little more depth and offer an option to consider.\r\n\r\nWhen I decided that I was going to embark upon the PREMIUM SERVICE edition in June 2013, I initially looked at the types of trades that was doing and the risks that I was taking. I sharpened my pencil and started to trade with two types of trades that I eventually called RADAR (Limit Order) and FLASH (Pullback / Momentum) trades. I added FUNDAMENTAL much later, these are based upon my longer-term views and as you can see I am still not 100% on board with these as yet, I think you call this work in progress.\r\n\r\nI separate my PREMIUM SERVICE trades from personal trades for obvious reporting reasons, but doing this has thrown up a valid reason why maybe all subscribers to the PREMIUM SERVICE should do likewise.\r\n\r\nMeasurement and Performance comparisons are instantaneous. This is not only good for analysis, but also for motivation. The psychological advantage of being able to readily evaluate longer-term trading performance in an instant is a great tool to have a your disposal.\r\n\r\nAt the end of the day, it is consistency that drives profits and account separation makes this crystal clear. My data is broken down even more as certain types of trades are done with specific brokers and specific currency pairs are also with specific brokers. (I am 50% through writing an article on multi-broker trading for this section for some time in the near future)\r\n\r\nThe chart below shows the net performance of trading in either MACRO, MINI or STANDARD lots up to 30<sup>th</sup> June 2014, having a 40 week PREMIUM SERVICE subscription and opening a separate account through BLACKWELL GLOBAL (link on the welcome page of the WEEKLY FX DRIVE THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>) which for the short-term I have a marketing / TRADING BONUS scheme in operation. Basically, the TRADING BONUS covers the cost of the PREMIUM SERVICE subscription. But you must click on the link on my website to qualify for the bonus.\r\n\r\nThe performance is self-explanatory. If ever there was a time to consider this, now is that time.\r\n\r\nI operate my Forex Trading in a business style. For me instant assessment is paramount, it may be the same for you, and if not, maybe you should consider it.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n</strong>\r\n\r\nWhy not open a separate account with me and try it? As long as your initial funding is over USD$1,000.00 you qualify for a 30% TRADING BONUS. The maximum bonus payable is USD$3,000.00. Once your account is 100% open and funded I will organize the TRADING BONUS it takes about 3 to 4 days maximum.\r\n<p style=\"text-align: center;\">Please note an annual subscription is 40 weeks and per year and I do not count the weeks when there is no blog as part of the subscription period.</p>\r\n<em>For example: -</em>\r\n<p style=\"text-align: center;\"><em>A 40-week subscription would in real terms be until this time next year 2015.</em>\r\n<em>A 10-week subscription would end October 18<sup>th</sup> 2014.</em>\r\n<em>A 20-week subscription would end January 24<sup>th</sup> 2015.</em>\r\n<em>(I hope the timelines above make sense)</em></p>\r\nIf any of you have questions about a PREMIUM SERVICE subscription please contact me at premiumservice@weeklyfxdrivethru.com.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT150\r\nEUR/GBP\r\nShort\r\nEntry: 0.7965\r\nStop Loss: 0.8000\r\nLimit / Target: 0.7800\r\nWeekly Closing Price: 0.7920\r\nPosition: +45 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD (This pair is hedged from -100 pips)\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0703\r\nPosition: -122 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8731\r\nPosition: -61 pips\r\n\r\nRT125\r\nEUR/USD\r\nShort\r\nCost Average: 1.3599\r\nStop Loss: 1.3670\r\nLimit: 1.3375\r\nWeekly Closing Price: 1.3594\r\nPosition: +5 pips\r\n\r\nThe 4-hour (240 minute) chart below shows why I have a short trade in this pair, ignoring all the fundamental reasons. As you can see we broke out of the up sloping range pattern and fell below the support trend line. We should re-test the trend line break at some stage and head much lower. Fundamental news is on my side. I like this trade. On the Chart below you will see an alternative trade set up based upon a trend line re-test at 1.3620 with horizontal resistance at 1.3643. You could use these numbers as a limit order with stops just above 1.3650. Targeting 1.3450 or lower to the downside.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014.png\"><img class=\"aligncenter size-large wp-image-4031\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014-1024x504.png\" alt=\"EURUSD 240M 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (This pair is hedged from -150 pips)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9615\r\nPosition: -185 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nThe following trade set-ups listed below are placed with my brokers. The markets are going to be even slower than of late as we are now into the beginning of vacation time. I am not expecting much by way of extended moves, but I am prepared. I see more FLASH trades based on pullbacks in the momentum direction being more prevalent as we move forward. Most of these trades will be advised through twitter.\r\n\r\n<span style=\"text-decoration: underline;\">GBP/USD:</span>\r\n\r\nAs I have tweeted and commented on in DAILY FX POSTS I see the GBP/USD as a buy on the dip currency pair moving forward. ON NFP/ECB Thursday, we dipped to just above 1.7100. The 38% of the recent up move comes in at 1.7092. This is my proposed entry. The 50% retracement is at 1.7060 and I have placed my stop at 1.7050. Will I get these levels?\r\n\r\nCable has been very strong of late but it is not averse to moves that defy comprehension at times so you never know.\r\n\r\nRT126\r\nGBP/USD\r\nShort\r\nEntry: 1.7092\r\nStop: 1.7050\r\nLimit: 1.7300\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4032\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014-1024x504.png\" alt=\"GBPUSD DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n<span style=\"text-decoration: underline;\">USD/CHF:</span>\r\n\r\nI am not sure if am too late to this party or not. There has been big support on many occasions at 0.8910. It gave way recently, then acted as resistance for a day and it is now a fib level and good support once more. My entry long on a pullback is at 0.8910 with my stop just below the trend line support on the chart at 0.8850. My initial target is 0.9110, which has held this pair captive a few times. Should we break through this level and a great deal depends upon the actions of the EUR/USD we could see 0.9350 and 0.9475 again.\r\n\r\nRT127\r\nUSD/CHF\r\nLong\r\nEntry: 0.8910\r\nStop: 0.8850\r\nLimit: 0.9110\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4033\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014-1024x504.png\" alt=\"USDCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF:</span>\r\n\r\nThis pair is the inverted relationship partner of the EUR/GBP. If the CHF moves higher and the GBP rallies at the same time causing the EUR/GBP to fall…this pair could fly higher.\r\n\r\nRT128\r\nGBP/CHF\r\nLong\r\nEntry: 1.5270\r\nStop: 1.5150\r\nLimit: 1.5480\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4034\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014-1024x504.png\" alt=\"GBPCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"text-decoration: underline;\">USD/SEK:</span>\r\n\r\nI have been long so many times this pair over the past few months, and yet I managed to miss the recent 2% move…typical.\r\n\r\nThe chart below shows the very bullish move on back of the Riksbank rate cut and the pullback. A very comforting 38% retracement I have a set-up below, I am hoping that we re-test again before resuming higher.\r\n\r\n(This set-up has not yet been placed my brokers)\r\nUSD/SEK\r\nLong\r\nEntry: 6.8120\r\nStop: 6.7600\r\nLimit: 7.5700\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014.png\"><img class=\"aligncenter size-large wp-image-4049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014-1024x504.png\" alt=\"USDSEK 240MINUTES 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3594.</strong> After Draghi’s rather unconvincing performance last Thursday the EUR/USD started to fall and finally broke through 1.3600. We have still to test 1.3575, but if this pair breaks through this level it opens a move once again to 1.3450. In the PREMIUM SERVICE (Trades on my Radar section), I highlighted a trade based on conservative entries, which is part of my overall resistance level. For resistance it would make sense to say that unless we break above 1.3643 it is still bearish.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.7159</strong>. The charge or slow grind higher as it now appears to be is playing out. I see from years ago the next level of resistance is at 1.7300 and support is 1.7090.\r\n\r\n<strong>AUD/USD: Closing Price 0.9362</strong>. Glenn Stevens the RBA governor talks dirty on currencies and the AUD/USD falls about 70 pips and then consolidates on the back of U.S. equities moving to all time highs in the DOW and S&amp;P. I think that verbal intervention can only be called once and if it doesn’t work to the level you want then you should try another method. The RBA is at this crossroads right now. Looking ahead I see the bull/ bear line in the sand being 0.9330, but we do not get seriously bearish until we break below 0.9210 and resistance lies at 0.9425.\r\n\r\n<strong>NZD/USD: Closing Price 0.8731</strong>. This stubborn pair still will not go down. Milk prices can drop; China data can be patchy but all to no avail. Graeme Wheeler RBNZ governor wants rate increases and a lower exchange rate. Guess what? You can’t have both and the interest rate differential on the Kiwi at 3.25% versus the Aussie at 2.5% is telling, the next higher rate in the western economy is Canada at 1%. There is little chance on carry trades that the Kiwi will lower dramatically sooner unless Wheeler spends millions of dollars directly intervening in the Spot market. We are still within touching distance of all-time highs. My levels are support at 0.8725, then 0.8650 and resistance is 0.8880.\r\n\r\n<strong>USD/CAD: Closing Price 1.0645.</strong> Not too much of a difference in the closing prices week on week. I am not too sure how to play this pair, I thought that I had it in my mind 48 hours ago, but that\'s gone. I am really not too sure what to do. I am looking for a move lower if I were to try a long trade but I would like to see 1.0590 as a support level to buy. Resistance is really at 1.0750.\r\n\r\n<strong>USD/CHF: Closing Price 0.8912</strong>. I posted quite a long viewpoint with a trade set-up on this pair in the trades on my radar section for PREMIUM SERVICE subscribers. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 102.00. </strong>The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 101.50 to 102.60.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong><strong> </strong>\r\n\r\nI have received several emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CHF\r\nGBP/AUD\r\nGBP/CHF\r\nUSD/DKK\r\nUSD/NOK\r\nUSD/SEK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nAUD/CAD\r\nEUR/CAD\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CAD – Building Permits and IVEY PMi.\r\nMONDAY: AUD – NAB Business Confidence.\r\n\r\nTUESDAY: CNY – CPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. Summer has come early this year.\r\n\r\nWe cannot manufacture trades, we can only deal with what we are presented with and that may not be much. We may just have to sit back a bit more or maybe break for the summer sooner than originally thought. There will be trades, but there will be just less of them with smaller moves. We must adjust to this style of market.\r\n\r\nThe Asian markets offer the thinnest of all trading volumes, so with vacations upon us, we really need to be extremely cautious with trading in Asia, as moves will have the ability to be out of the blue and maybe against the trend. Moves in a thin market can be extreme\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <span style=\"text-decoration: underline;\"><strong>NOT</strong></span> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nIn 3 more weeks, I will be on break for 5 weeks from the PREMIUM SERVICE. There will be continued tweets through through both twitter accounts but these will be ad hoc as I take a break like most traders because in real terms there is very little movement. I may or may not do very brief WEEKLY FX DRIVE THRU blogs but after 7 years of trading I have observed there is very little in August except wait for September to start trading again.\r\n\r\nIn the meantime until next week however, keep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nFinally, Premium Service subscribers may note that in the secure website area I have added another broker to mtg list of approved brokers - FXCM. For service related issues SENSUS CAPITAL and IRON FX were removed and so the two brokers brokers for now that are on my recommended list are BLACKWELL GLOBAL and FXCM. At this point in time I only have marketing / Trading Bonuses in place with BLACKWELL GLOBAL. If you require additional information on anything to do with my approved brokers just email me at premium service@weeklyfxdrivethru.com\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 5th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','IS THE FED BEHIND THE CURVE…I THINK IT\'S ANOTHER WALL ST VERSUS MAIN ST','','inherit','open','closed','','4050-revision-v1','','','2014-07-05 09:41:03','2014-07-05 14:41:03','',4050,'https://weeklyfxdrivethru.com/4050-revision-v1/',0,'revision','',0),(4053,1,'2014-07-05 10:12:00','2014-07-05 15:12:00','<strong> </strong>\r\n\r\n<strong>PRE – INTRODUCTION:</strong>\r\n\r\nAs I have now completed my first six months of the PREMIUM SERVICE, for this week only I thought that I would give all “FREE NEWSLETTER” subscribers, LinkedIn, Twitter and Google+ followers a taste of what PREMIUM SERVICE subscribers receive each week in the complete version of the WEEKLY FX DRIVE THRU.\r\n\r\nThere is also a section later #4, where I am discussing the option of keeping the PREMIUM SERVICE trades separate from your own trades. You will see in this section, if you subscribe for a year not only is your annual subscription paid for by a trading bonus through one of my approved brokers but you would have returned a healthy profit 2014 to date with only 50% of the year gone.\r\n\r\nI cannot guarantee future performance but the risk / reward option looks good from my side of the desk! In addition, I work hard 16 hours a day to keep in touch with the markets.\r\n\r\nI hope that you enjoy this version; trade set-ups and trades that are on my radar with charts etc are all included.\r\n\r\nIf this wets your taste buds to join the PREMIUM SERVICE full details on subscriptions can be found on welcome page of my website at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>.\r\n\r\n&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nOn Thursday last week we had a very unusual situation, a Draghi ECB Press Conference and the release of U.S. Non-Farm payrolls on the same day, at the same time, due to the 4<sup>th</sup> July U.S. holiday. The reaction to this potential “Molotov Cocktail” in Forex terms was really rather muted. Many North American traders were already on vacation and the fact that we were already in such low trading volumes anyhow it was a bit of a damp squib event, in my opinion. We only saw minimal moves, nothing extreme at all. I picked up the EUR/GBP short again and for me that was my only new trade. I exited an old AUD/USD short trade on the spike lower, which turned out to be lucky rather than inspired as it bounced back. We did not have the usual drama as it all passed off very peacefully.\r\n\r\nDuring the week we saw Glenn Stevens Governor RBA, talk down the fair value exchange rate regarding the AUD, he actually said the value placed on the currency was more than a couple of cents away from present levels. Given that he first said that the AUD was too strong when the AUD/USD exchange rate was at 0.9000, and he made these latest comments with the AUD/USD at 0.9450, panic mode who knows but definitely uncomfortable for the Australian economy. At the previous level of 0.9000, it was muted that 0.8500 was the objective so that would make it about a 10 cents difference from existing levels. There must be some poor economic data in the pipeline. Retail Sales and the Trade Balance numbers were poor, so if there is continued poor data he will have some help achieving his exchange rate targets….whether in this scenario he can keep his job is debatable.\r\n\r\nWith regards to other Central Bank activity, deflation is still not that far from being the top news item. The Riksbank (SWEDEN), reduced interest rates by 0.50% to 0.25% and caused a 2% rise in the USD/SEK, this was also reflected in the EUR/SEK. Looking around the Central Banks, I think that it is now safe to say that only the BOE and RBNZ are “Hawks” and this will reveal itself in money flows as we move forward, the rest are “Doves” including the FED who’s official line is still Dovish.\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering the period June 2014 and year to date up to 30<sup>th</sup> June 2014.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\"><img class=\"aligncenter size-full wp-image-4041\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\" alt=\"PREM SERV PROFITS1 05072014\" width=\"454\" height=\"426\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\"><img class=\"aligncenter size-full wp-image-4042\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\" alt=\"PREM SERV PROFITS 2 05072014\" width=\"461\" height=\"421\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>IS THE FED BEHIND THE CURVE…OR DO THEY SEE SOMETHING WE DON’T?\r\n(I THINK WE ARE BACK TO YET ANOTHER WALL STREET VERSUS MAIN STREET ISSUE)</strong></p>\r\nFor months now, every time I switch on the TV to watch CNBC or listen to Bloomberg or catch Financial news on CNN, I am bombarded with news of how good the U.S. economy is and how most things economic are at the best levels for years, maybe even since 2008. Yet the FED is still dovish. If everything in the garden is so rosy why is the FED months behind the curve or do they see something more than everyone else is looking at?\r\n\r\nTrying to get a handle on all matters U.S. I went to trading economics to pull off some U.S data. There are obviously 5/6 pages of data; I chose what I consider the important ones for me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\"><img class=\"aligncenter size-full wp-image-4043\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\" alt=\"US ECONOMIC DATA 050714\" width=\"410\" height=\"537\" /></a>\r\n\r\n&nbsp;\r\n\r\nThere are quite a lot of numbers to absorb and I will yield, in the main they are all going the right way. In fact, I found this exercise very interesting to tabulate these numbers.\r\n\r\nSo why is the FED behind the curve, as I believe that it is? Because, if you glance down these numbers 95% look to be moving in the right direction and things appear to be on the up. Sure, there is the odd blip and most countries have data that falls into this category from time to time. Gets me thinking! Back to one of favourite hunting grounds and my thoughts on the FED being behind the curve brings me back to Wall Street versus Main Street. Let me elaborate.\r\n\r\nBusinesses feel good but consumers in the main do not. TV interviews to the general public and social networks all have comment after comment about how the numbers released by the government have little meaning in day-to-day life at the sharp end as a home owner running a house financially. I believe we are still in the Wall Street versus Main Street argument that has repeatedly raised its head since 2008.\r\n\r\nWhat are four things that really matter to Main Street to bring confidence?\r\n<ol>\r\n	<li>(CONSUMER) SPENDING.</li>\r\n	<li>HOUSING.</li>\r\n	<li>PRICE OF FOOD.</li>\r\n	<li>GAS PRICES.</li>\r\n	<li>EMPLOYMENT.</li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">CONSUMER SPENDING:</span>\r\n\r\nI read an article last week on why the equity markets keep grinding up and asking who it is that keeps them moving up bit by bit. There are days when the odd pension fund re-balances holdings but in the main the biggest buyers at the moment are the companies themselves buying back their own stock. Why are they doing this? This is done to serve the Wall Street analysts. If companies buy back stock the earnings per share (EPS) rises and this is a key measurement that deflects any critics off the lack of top line sales income.\r\n\r\nAlthough the statistics are starting to rise the U.S. is still the ultimate consumer driven society. The U.S. shops like no other country in the world. If spending and confidence is down the economy suffers. Right now the effects of food inflation can be felt immediately every week in the grocery bills. This is a direct and an immediate tax straight into the household budget. Consumer confidence, consumer spending and disposable income available on average is up, yet retail sales are down. I believe that when the effects of the recent hike in Gas Prices works its way into these statistics confidence numbers will decrease because consumers will have a fear of spending.\r\n\r\n<span style=\"text-decoration: underline;\">HOUSING:</span>\r\n\r\nOf late we have seen investment companies move in to buy up vacant homes creating shortfalls in places, or so we are told. However, obtaining a mortgage to buy is very, very hard, as the loan criteria have been elevated. If there is NO regular movement of housing and people moving around then all the ancillary employment of Plumbers, Carpenters, Electricians doesn’t happen and spending at Home Depot and Lowe’s doesn’t happen either. Removal companies remain idle. Spending stops. This is probably the most crucial of all spending to monitor, as this turns lack of confidence into lots of confidence when there is some action. Apart from a few pockets dotted around the country housing is still flat.\r\n\r\n<span style=\"text-decoration: underline;\">PRICE OF FOOD:\r\n</span>\r\nCommodity prices are up and up, lean hogs; coffee and cattle prices to name but three items are all elevated. This is a direct tax, felt immediately in weekly grocery bills and causes families to cut back on non-essentials. Discretionary spending which the U.S. needs to keep inventories moving comes to a halt.\r\n\r\n<span style=\"text-decoration: underline;\">GAS PRICES:</span>\r\n\r\nWe are now at the highest gas prices in the U.S. since 2008. Need I say more? All over the world fuel costs are an immediate hidden stealth tax that is talked about every day in the news and in bars and coffee shops. If ever there was a dampener on consumer confidence this is it.\r\n\r\n<span style=\"text-decoration: underline;\">EMPLOYMENT:</span>\r\nThe figures released on July 3<sup>rd</sup> now state that over a million new jobs have been created in the U.S. this year alone and that the unemployment rate for the country has now dropped to 6.1%. Just before the numbers were released pundits were saying the new job number would be good but there would be an increase in the percentage because more of the longer-term unemployed that dropped off the system were coming back and registering. Well that never happened. There are debates after debate on exactly what the true unemployment rate is in the U.S. I have read 10%+, 12%+ nobody knows but people including the ex FED chairman Ben Bernanke often referred to the mass exodus of job seekers who give up and take themselves out of the system.\r\nIf you are in a job you want job security, in fairness with the talk about how good things are employed people should feel more secure now as they are being told that the economy is on the up and that businesses are moving forward. I think window dressing, with regards to financial accounts, is taking place, but I do see that the economy is moving forward as well (Window dressing of financial accounts always takes place).\r\n\r\n&nbsp;\r\n\r\nThe only question is if you have a job and you are being told all is great but your living expenses are higher does that give you confidence?\r\n\r\nIn my opinion, the economic business data for now reflects a very positive spin on the U.S. economy. I think that the FED through Janet Yellen see “headwinds” from Main Street coming in very quickly hence their lack of desire to talk about raising interest rates as this would only be another nail in the coffin. The Fed is probably hoping that gas prices at least may fall back down after the holiday weekend and that would be viewed as positive, but I do feel that food inflation is something that the U.S. has not had to fight of late and without being sexist here, the female who tends to hold the purse strings will be savvier on future spending based upon food inflation rather than the male putting gas in the car.\r\n\r\nNow if we add TAPERING into the equation, what does it mean?\r\n\r\nI think in the simplest of terms, for all the money spent by the FED to try and bring down unemployment and boost housing through easing, QE has been a disaster of the first order. All it did was make fat cats on Wall Street, fatter!\r\n\r\nThe FED has to continue with tapering until the end of 2014 as its policy states. If there was no crutch for Wall Street would it survive? In a one word answer YES.\r\n\r\nTapering does not have a massive direct effect on Main Street. Tapering coming to an end does however make Wall Street more commercial and through being more commercial it will look to grow business through sales initiatives and competition, which should induce both consumer confidence and spending.\r\n\r\nIt is a merry-go-round; it is the job of the FED to kick-start the circus ride and get all the participants in place to get on board. It is a delicate operation and needs fine precision. I am a huge critic of central banks; I do not believe a word that governors say most of the time. They are economic with the truth. However, on this occasion I feel that Yellen’s reluctance to turn “Hawk” is justified and I see the headwinds on the horizon.\r\n\r\nWhether these are what the FED has on it’s mind who knows.\r\n\r\nAre there any trades from this data?\r\n\r\nI still haven’t changed my mind about this, as the FED tightens through tapering eventually this has to be reflected in a stronger USD.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong>\r\n\r\n<strong>IS THERE A CASE FOR A SEPARATE BROKER ACCOUNT FOR PREMIUM SERVICE TRADES?</strong>\r\n\r\nI wanted to review the PREMIUM SERVICE performance so far this year in a little more depth and offer an option to consider.\r\n\r\nWhen I decided that I was going to embark upon the PREMIUM SERVICE edition in June 2013, I initially looked at the types of trades that was doing and the risks that I was taking. I sharpened my pencil and started to trade with two types of trades that I eventually called RADAR (Limit Order) and FLASH (Pullback / Momentum) trades. I added FUNDAMENTAL much later, these are based upon my longer-term views and as you can see I am still not 100% on board with these as yet, I think you call this work in progress.\r\n\r\nI separate my PREMIUM SERVICE trades from personal trades for obvious reporting reasons, but doing this has thrown up a valid reason why maybe all subscribers to the PREMIUM SERVICE should do likewise.\r\n\r\nMeasurement and Performance comparisons are instantaneous. This is not only good for analysis, but also for motivation. The psychological advantage of being able to readily evaluate longer-term trading performance in an instant is a great tool to have a your disposal.\r\n\r\nAt the end of the day, it is consistency that drives profits and account separation makes this crystal clear. My data is broken down even more as certain types of trades are done with specific brokers and specific currency pairs are also with specific brokers. (I am 50% through writing an article on multi-broker trading for this section for some time in the near future)\r\n\r\nThe chart below shows the net performance of trading in either MACRO, MINI or STANDARD lots up to 30<sup>th</sup> June 2014, having a 40 week PREMIUM SERVICE subscription and opening a separate account through BLACKWELL GLOBAL (link on the welcome page of the WEEKLY FX DRIVE THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>) which for the short-term I have a marketing / TRADING BONUS scheme in operation. Basically, the TRADING BONUS covers the cost of the PREMIUM SERVICE subscription. But you must click on the link on my website to qualify for the bonus.\r\n\r\nThe performance is self-explanatory. If ever there was a time to consider this, now is that time.\r\n\r\nI operate my Forex Trading in a business style. For me instant assessment is paramount, it may be the same for you, and if not, maybe you should consider it.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nWhy not open a separate account with me and try it? As long as your initial funding is over USD$1,000.00 you qualify for a 30% TRADING BONUS. The maximum bonus payable is USD$3,000.00. Once your account is 100% open and funded I will organize the TRADING BONUS it takes about 3 to 4 days maximum.\r\n<p style=\"text-align: center;\">Please note an annual subscription is 40 weeks and per year and I do not count the weeks when there is no blog as part of the subscription period.</p>\r\n<strong><em>For example: -</em></strong>\r\n<p style=\"text-align: center;\"><strong><em>A 40-week subscription would in real terms be until this time next year 2015.</em></strong>\r\n<strong><em>A 10-week subscription would end October 18<sup>th</sup> 2014.</em></strong>\r\n<strong><em>A 20-week subscription would end January 24<sup>th</sup> 2015.</em></strong>\r\n<strong><em>(I hope the timelines above make sense)</em></strong></p>\r\nIf any of you have questions about a PREMIUM SERVICE subscription please contact me at premiumservice@weeklyfxdrivethru.com.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT150\r\nEUR/GBP\r\nShort\r\nEntry: 0.7965\r\nStop Loss: 0.8000\r\nLimit / Target: 0.7800\r\nWeekly Closing Price: 0.7920\r\nPosition: +45 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong><strong> </strong>\r\n\r\nRT110\r\nAUD/NZD (This pair is hedged from -100 pips)\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0703\r\nPosition: -122 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8731\r\nPosition: -61 pips\r\n\r\nRT125\r\nEUR/USD\r\nShort\r\nCost Average: 1.3599\r\nStop Loss: 1.3670\r\nLimit: 1.3375\r\nWeekly Closing Price: 1.3594\r\nPosition: +5 pips\r\n\r\nThe 4-hour (240 minute) chart below shows why I have a short trade in this pair, ignoring all the fundamental reasons. As you can see we broke out of the up sloping range pattern and fell below the support trend line. We should re-test the trend line break at some stage and head much lower. Fundamental news is on my side. I like this trade. On the Chart below you will see an alternative trade set up based upon a trend line re-test at 1.3620 with horizontal resistance at 1.3643. You could use these numbers as a limit order with stops just above 1.3650. Targeting 1.3450 or lower to the downside.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014.png\"><img class=\"aligncenter size-large wp-image-4031\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014-1024x504.png\" alt=\"EURUSD 240M 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (This pair is hedged from -150 pips)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9615\r\nPosition: -185 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nThe following trade set-ups listed below are placed with my brokers. The markets are going to be even slower than of late as we are now into the beginning of vacation time. I am not expecting much by way of extended moves, but I am prepared. I see more FLASH trades based on pullbacks in the momentum direction being more prevalent as we move forward. Most of these trades will be advised through twitter.\r\n\r\n<span style=\"text-decoration: underline;\">GBP/USD:</span>\r\n\r\nAs I have tweeted and commented on in DAILY FX POSTS I see the GBP/USD as a buy on the dip currency pair moving forward. ON NFP/ECB Thursday, we dipped to just above 1.7100. The 38% of the recent up move comes in at 1.7092. This is my proposed entry. The 50% retracement is at 1.7060 and I have placed my stop at 1.7050. Will I get these levels?\r\n\r\nCable has been very strong of late but it is not averse to moves that defy comprehension at times so you never know.\r\n\r\nRT126\r\nGBP/USD\r\nShort\r\nEntry: 1.7092\r\nStop: 1.7050\r\nLimit: 1.7300\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4032\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014-1024x504.png\" alt=\"GBPUSD DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n<span style=\"text-decoration: underline;\">USD/CHF:</span>\r\n\r\nI am not sure if am too late to this party or not. There has been big support on many occasions at 0.8910. It gave way recently, then acted as resistance for a day and it is now a fib level and good support once more. My entry long on a pullback is at 0.8910 with my stop just below the trend line support on the chart at 0.8850. My initial target is 0.9110, which has held this pair captive a few times. Should we break through this level and a great deal depends upon the actions of the EUR/USD we could see 0.9350 and 0.9475 again.\r\n\r\nRT127\r\nUSD/CHF\r\nLong\r\nEntry: 0.8910\r\nStop: 0.8850\r\nLimit: 0.9110\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4033\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014-1024x504.png\" alt=\"USDCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF:</span>\r\n\r\nThis pair is the inverted relationship partner of the EUR/GBP. If the CHF moves higher and the GBP rallies at the same time causing the EUR/GBP to fall…this pair could fly higher.\r\n\r\nRT128\r\nGBP/CHF\r\nLong\r\nEntry: 1.5270\r\nStop: 1.5150\r\nLimit: 1.5480\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4034\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014-1024x504.png\" alt=\"GBPCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<span style=\"text-decoration: underline;\">USD/SEK:</span>\r\n\r\nI have been long so many times this pair over the past few months, and yet I managed to miss the recent 2% move…typical.\r\n\r\nThe chart below shows the very bullish move on back of the Riksbank rate cut and the pullback. A very comforting 38% retracement I have a set-up below, I am hoping that we re-test again before resuming higher.\r\n\r\n(This set-up has not yet been placed my brokers)\r\nUSD/SEK\r\nLong\r\nEntry: 6.8120\r\nStop: 6.7600\r\nLimit: 7.5700\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014.png\"><img class=\"aligncenter size-large wp-image-4049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014-1024x504.png\" alt=\"USDSEK 240MINUTES 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3594.</strong> After Draghi’s rather unconvincing performance last Thursday the EUR/USD started to fall and finally broke through 1.3600. We have still to test 1.3575, but if this pair breaks through this level it opens a move once again to 1.3450. In the PREMIUM SERVICE (Trades on my Radar section), I highlighted a trade based on conservative entries, which is part of my overall resistance level. For resistance it would make sense to say that unless we break above 1.3643 it is still bearish.\r\n\r\n<strong>GBP/USD: Closing Price 1.7159</strong>. The charge or slow grind higher as it now appears to be is playing out. I see from years ago the next level of resistance is at 1.7300 and support is 1.7090.\r\n\r\n<strong>AUD/USD: Closing Price 0.9362</strong>. Glenn Stevens the RBA governor talks dirty on currencies and the AUD/USD falls about 70 pips and then consolidates on the back of U.S. equities moving to all time highs in the DOW and S&amp;P. I think that verbal intervention can only be called once and if it doesn’t work to the level you want then you should try another method. The RBA is at this crossroads right now. Looking ahead I see the bull/ bear line in the sand being 0.9330, but we do not get seriously bearish until we break below 0.9210 and resistance lies at 0.9425.\r\n\r\n<strong>NZD/USD: Closing Price 0.8731</strong>. This stubborn pair still will not go down. Milk prices can drop; China data can be patchy but all to no avail. Graeme Wheeler RBNZ governor wants rate increases and a lower exchange rate. Guess what? You can’t have both and the interest rate differential on the Kiwi at 3.25% versus the Aussie at 2.5% is telling, the next higher rate in the western economy is Canada at 1%. There is little chance on carry trades that the Kiwi will lower dramatically sooner unless Wheeler spends millions of dollars directly intervening in the Spot market. We are still within touching distance of all-time highs. My levels are support at 0.8725, then 0.8650 and resistance is 0.8880.\r\n\r\n<strong>USD/CAD: Closing Price 1.0645.</strong> Not too much of a difference in the closing prices week on week. I am not too sure how to play this pair, I thought that I had it in my mind 48 hours ago, but that\'s gone. I am really not too sure what to do. I am looking for a move lower if I were to try a long trade but I would like to see 1.0590 as a support level to buy. Resistance is really at 1.0750.\r\n\r\n<strong>USD/CHF: Closing Price 0.8912</strong>. I posted quite a long viewpoint with a trade set-up on this pair in the trades on my radar section for PREMIUM SERVICE subscribers. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 102.00. </strong>The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 101.50 to 102.60.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong><strong> </strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CHF\r\nGBP/AUD\r\nGBP/CHF\r\nUSD/DKK\r\nUSD/NOK\r\nUSD/SEK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nAUD/CAD\r\nEUR/CAD\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME</strong><strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CAD – Building Permits and IVEY PMi.\r\nMONDAY: AUD – NAB Business Confidence.\r\n\r\nTUESDAY: CNY – CPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. Summer has come early this year.\r\n\r\nWe cannot manufacture trades, we can only deal with what we are presented with and that may not be much. We may just have to sit back a bit more or maybe break for the summer sooner than originally thought. There will be trades, but there will be just less of them with smaller moves. We must adjust to this style of market.\r\n\r\nThe Asian markets offer the thinnest of all trading volumes, so with vacations upon us, we really need to be extremely cautious with trading in Asia, as moves will have the ability to be out of the blue and maybe against the trend. Moves in a thin market can be extreme.\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nIn 3 more weeks, I will be on break for 5 weeks from the PREMIUM SERVICE. There will be continued tweets through through both twitter accounts but these will be ad hoc as I take a break like most traders because in real terms there is very little movement. I may or may not do very brief WEEKLY FX DRIVE THRU blogs but after 7 years of trading I have observed there is very little in August except wait for September to start trading again.\r\n\r\nIn the meantime until next week however, keep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 5th 2014.\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\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&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> </strong>','IS THE FED BEHIND THE CURVE…I THINK THAT IT IS ANOTHER WALL ST VERSUS MAIN ST ','','publish','open','closed','','fed-behind-curvei-think-another-wall-st-versus-main-st','','','2014-07-05 10:14:41','2014-07-05 15:14:41','',0,'https://weeklyfxdrivethru.com/?p=4053',0,'post','',0),(4054,1,'2014-07-05 10:10:15','2014-07-05 15:10:15','<strong> </strong>\r\n\r\n<strong>PRE – INTRODUCTION:</strong>\r\n\r\nAs I have now completed my first six months of the PREMIUM SERVICE, for this week only I thought that I would give all “FREE NEWSLETTER” subscribers, LinkedIn, Twitter and Google+ followers a taste of what PREMIUM SERVICE subscribers receive each week in the complete version of the WEEKLY FX DRIVE THRU.\r\n\r\nThere is also a section later #4, where I am discussing the option of keeping the PREMIUM SERVICE trades separate from your own trades. You will see in this section, if you subscribe for a year not only is your annual subscription paid for by a trading bonus through one of my approved brokers but you would have returned a healthy profit 2014 to date with only 50% of the year gone.\r\n\r\nI cannot guarantee future performance but the risk / reward option looks good from my side of the desk! In addition, I work hard 16 hours a day to keep in touch with the markets.\r\n\r\nI hope that you enjoy this version; trade set-ups and trades that are on my radar with charts etc are all included.\r\n\r\nIf this wets your taste buds to join the PREMIUM SERVICE full details on subscriptions can be found on welcome page of my website at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>.\r\n\r\n&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nOn Thursday last week we had a very unusual situation, a Draghi ECB Press Conference and the release of U.S. Non-Farm payrolls on the same day, at the same time, due to the 4<sup>th</sup> July U.S. holiday. The reaction to this potential “Molotov Cocktail” in Forex terms was really rather muted. Many North American traders were already on vacation and the fact that we were already in such low trading volumes anyhow it was a bit of a damp squib event, in my opinion. We only saw minimal moves, nothing extreme at all. I picked up the EUR/GBP short again and for me that was my only new trade. I exited an old AUD/USD short trade on the spike lower, which turned out to be lucky rather than inspired as it bounced back. We did not have the usual drama as it all passed off very peacefully.\r\n\r\nDuring the week we saw Glenn Stevens Governor RBA, talk down the fair value exchange rate regarding the AUD, he actually said the value placed on the currency was more than a couple of cents away from present levels. Given that he first said that the AUD was too strong when the AUD/USD exchange rate was at 0.9000, and he made these latest comments with the AUD/USD at 0.9450, panic mode who knows but definitely uncomfortable for the Australian economy. At the previous level of 0.9000, it was muted that 0.8500 was the objective so that would make it about a 10 cents difference from existing levels. There must be some poor economic data in the pipeline. Retail Sales and the Trade Balance numbers were poor, so if there is continued poor data he will have some help achieving his exchange rate targets….whether in this scenario he can keep his job is debatable.\r\n\r\nWith regards to other Central Bank activity, deflation is still not that far from being the top news item. The Riksbank (SWEDEN), reduced interest rates by 0.50% to 0.25% and caused a 2% rise in the USD/SEK, this was also reflected in the EUR/SEK. Looking around the Central Banks, I think that it is now safe to say that only the BOE and RBNZ are “Hawks” and this will reveal itself in money flows as we move forward, the rest are “Doves” including the FED who’s official line is still Dovish.\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering the period June 2014 and year to date up to 30<sup>th</sup> June 2014.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\"><img class=\"aligncenter size-full wp-image-4041\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\" alt=\"PREM SERV PROFITS1 05072014\" width=\"454\" height=\"426\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\"><img class=\"aligncenter size-full wp-image-4042\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\" alt=\"PREM SERV PROFITS 2 05072014\" width=\"461\" height=\"421\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>IS THE FED BEHIND THE CURVE…OR DO THEY SEE SOMETHING WE DON’T?\r\n(I THINK WE ARE BACK TO YET ANOTHER WALL STREET VERSUS MAIN STREET ISSUE)</strong></p>\r\nFor months now, every time I switch on the TV to watch CNBC or listen to Bloomberg or catch Financial news on CNN, I am bombarded with news of how good the U.S. economy is and how most things economic are at the best levels for years, maybe even since 2008. Yet the FED is still dovish. If everything in the garden is so rosy why is the FED months behind the curve or do they see something more than everyone else is looking at?\r\n\r\nTrying to get a handle on all matters U.S. I went to trading economics to pull off some U.S data. There are obviously 5/6 pages of data; I chose what I consider the important ones for me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\"><img class=\"aligncenter size-full wp-image-4043\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\" alt=\"US ECONOMIC DATA 050714\" width=\"410\" height=\"537\" /></a>\r\n\r\n&nbsp;\r\n\r\nThere are quite a lot of numbers to absorb and I will yield, in the main they are all going the right way. In fact, I found this exercise very interesting to tabulate these numbers.\r\n\r\nSo why is the FED behind the curve, as I believe that it is? Because, if you glance down these numbers 95% look to be moving in the right direction and things appear to be on the up. Sure, there is the odd blip and most countries have data that falls into this category from time to time. Gets me thinking! Back to one of favourite hunting grounds and my thoughts on the FED being behind the curve brings me back to Wall Street versus Main Street. Let me elaborate.\r\n\r\nBusinesses feel good but consumers in the main do not. TV interviews to the general public and social networks all have comment after comment about how the numbers released by the government have little meaning in day-to-day life at the sharp end as a home owner running a house financially. I believe we are still in the Wall Street versus Main Street argument that has repeatedly raised its head since 2008.\r\n\r\nWhat are four things that really matter to Main Street to bring confidence?\r\n<ol>\r\n	<li>(CONSUMER) SPENDING.</li>\r\n	<li>HOUSING.</li>\r\n	<li>PRICE OF FOOD.</li>\r\n	<li>GAS PRICES.</li>\r\n	<li>EMPLOYMENT.</li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">CONSUMER SPENDING:</span>\r\n\r\nI read an article last week on why the equity markets keep grinding up and asking who it is that keeps them moving up bit by bit. There are days when the odd pension fund re-balances holdings but in the main the biggest buyers at the moment are the companies themselves buying back their own stock. Why are they doing this? This is done to serve the Wall Street analysts. If companies buy back stock the earnings per share (EPS) rises and this is a key measurement that deflects any critics off the lack of top line sales income.\r\n\r\nAlthough the statistics are starting to rise the U.S. is still the ultimate consumer driven society. The U.S. shops like no other country in the world. If spending and confidence is down the economy suffers. Right now the effects of food inflation can be felt immediately every week in the grocery bills. This is a direct and an immediate tax straight into the household budget. Consumer confidence, consumer spending and disposable income available on average is up, yet retail sales are down. I believe that when the effects of the recent hike in Gas Prices works its way into these statistics confidence numbers will decrease because consumers will have a fear of spending.\r\n\r\n<span style=\"text-decoration: underline;\">HOUSING:</span>\r\n\r\nOf late we have seen investment companies move in to buy up vacant homes creating shortfalls in places, or so we are told. However, obtaining a mortgage to buy is very, very hard, as the loan criteria have been elevated. If there is NO regular movement of housing and people moving around then all the ancillary employment of Plumbers, Carpenters, Electricians doesn’t happen and spending at Home Depot and Lowe’s doesn’t happen either. Removal companies remain idle. Spending stops. This is probably the most crucial of all spending to monitor, as this turns lack of confidence into lots of confidence when there is some action. Apart from a few pockets dotted around the country housing is still flat.\r\n\r\n<span style=\"text-decoration: underline;\">PRICE OF FOOD:\r\n</span>\r\nCommodity prices are up and up, lean hogs; coffee and cattle prices to name but three items are all elevated. This is a direct tax, felt immediately in weekly grocery bills and causes families to cut back on non-essentials. Discretionary spending which the U.S. needs to keep inventories moving comes to a halt.\r\n\r\n<span style=\"text-decoration: underline;\">GAS PRICES:</span>\r\n\r\nWe are now at the highest gas prices in the U.S. since 2008. Need I say more? All over the world fuel costs are an immediate hidden stealth tax that is talked about every day in the news and in bars and coffee shops. If ever there was a dampener on consumer confidence this is it.\r\n\r\n<span style=\"text-decoration: underline;\">EMPLOYMENT:</span>\r\nThe figures released on July 3<sup>rd</sup> now state that over a million new jobs have been created in the U.S. this year alone and that the unemployment rate for the country has now dropped to 6.1%. Just before the numbers were released pundits were saying the new job number would be good but there would be an increase in the percentage because more of the longer-term unemployed that dropped off the system were coming back and registering. Well that never happened. There are debates after debate on exactly what the true unemployment rate is in the U.S. I have read 10%+, 12%+ nobody knows but people including the ex FED chairman Ben Bernanke often referred to the mass exodus of job seekers who give up and take themselves out of the system.\r\nIf you are in a job you want job security, in fairness with the talk about how good things are employed people should feel more secure now as they are being told that the economy is on the up and that businesses are moving forward. I think window dressing, with regards to financial accounts, is taking place, but I do see that the economy is moving forward as well (Window dressing of financial accounts always takes place).\r\n\r\n&nbsp;\r\n\r\nThe only question is if you have a job and you are being told all is great but your living expenses are higher does that give you confidence?\r\n\r\nIn my opinion, the economic business data for now reflects a very positive spin on the U.S. economy. I think that the FED through Janet Yellen see “headwinds” from Main Street coming in very quickly hence their lack of desire to talk about raising interest rates as this would only be another nail in the coffin. The Fed is probably hoping that gas prices at least may fall back down after the holiday weekend and that would be viewed as positive, but I do feel that food inflation is something that the U.S. has not had to fight of late and without being sexist here, the female who tends to hold the purse strings will be savvier on future spending based upon food inflation rather than the male putting gas in the car.\r\n\r\nNow if we add TAPERING into the equation, what does it mean?\r\n\r\nI think in the simplest of terms, for all the money spent by the FED to try and bring down unemployment and boost housing through easing, QE has been a disaster of the first order. All it did was make fat cats on Wall Street, fatter!\r\n\r\nThe FED has to continue with tapering until the end of 2014 as its policy states. If there was no crutch for Wall Street would it survive? In a one word answer YES.\r\n\r\nTapering does not have a massive direct effect on Main Street. Tapering coming to an end does however make Wall Street more commercial and through being more commercial it will look to grow business through sales initiatives and competition, which should induce both consumer confidence and spending.\r\n\r\nIt is a merry-go-round; it is the job of the FED to kick-start the circus ride and get all the participants in place to get on board. It is a delicate operation and needs fine precision. I am a huge critic of central banks; I do not believe a word that governors say most of the time. They are economic with the truth. However, on this occasion I feel that Yellen’s reluctance to turn “Hawk” is justified and I see the headwinds on the horizon.\r\n\r\nWhether these are what the FED has on it’s mind who knows.\r\n\r\nAre there any trades from this data?\r\n\r\nI still haven’t changed my mind about this, as the FED tightens through tapering eventually this has to be reflected in a stronger USD.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong>\r\n\r\n<strong>IS THERE A CASE FOR A SEPARATE BROKER ACCOUNT FOR PREMIUM SERVICE TRADES?</strong>\r\n\r\nI wanted to review the PREMIUM SERVICE performance so far this year in a little more depth and offer an option to consider.\r\n\r\nWhen I decided that I was going to embark upon the PREMIUM SERVICE addition in June 2013, I initially looked at the types of trades that was doing and the risks that I was taking. I sharpened my pencil and started to trade with two types of trades that I eventually called RADAR (Limit Order) and FLASH (Pullback / Momentum) trades. I added FUNDAMENTAL much later, these are based upon my longer-term views and as you can see I am still not 100% on board with these as yet, I think you call this work in progress.\r\n\r\nI separate my PREMIUM SERVICE trades from personal trades for obvious reporting reasons, but doing this has thrown up a valid reason why maybe all subscribers to the PREMIUM SERVICE should do likewise.\r\n\r\nMeasurement and Performance comparisons are instantaneous. This is not only good for analysis, but also for motivation. The psychological advantage of being able to readily evaluate longer-term trading performance in an instant is a great tool to have a your disposal.\r\n\r\nAt the end of the day, it is consistency that drives profits and account separation makes this crystal clear. My data is broken down even more as certain types of trades are done with specific brokers and specific currency pairs are also with specific brokers. (I am 50% through writing an article on multi-broker trading for this section for some time in the near future)\r\n\r\nThe chart below shows the net performance of trading in either MACRO, MINI or STANDARD lots up to 30<sup>th</sup> June 2014, having a 40 week PREMIUM SERVICE subscription and opening a separate account through BLACKWELL GLOBAL (link on the welcome page of the WEEKLY FX DRIVE THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>) which for the short-term I have a marketing / TRADING BONUS scheme in operation. Basically, the TRADING BONUS covers the cost of the PREMIUM SERVICE subscription. But you must click on the link on my website to qualify for the bonus.\r\n\r\nThe performance is self-explanatory. If ever there was a time to consider this, now is that time.\r\n\r\nI operate my Forex Trading in a business style. For me instant assessment is paramount, it may be the same for you, and if not, maybe you should consider it.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nWhy not open a separate account with me and try it? As long as your initial funding is over USD$1,000.00 you qualify for a 30% TRADING BONUS. The maximum bonus payable is USD$3,000.00. Once your account is 100% open and funded I will organize the TRADING BONUS it takes about 3 to 4 days maximum.\r\n<p style=\"text-align: center;\">Please note an annual subscription is 40 weeks and per year and I do not count the weeks when there is no blog as part of the subscription period.\r\n\r\n<strong><em>For example: -</em></strong></p>\r\n<p style=\"text-align: center;\"><strong><em>A 40-week subscription would in real terms be until this time next year 2015.</em></strong>\r\n<strong><em>A 10-week subscription would end October 18<sup>th</sup> 2014.</em></strong>\r\n<strong><em>A 20-week subscription would end January 24<sup>th</sup> 2015.</em></strong>\r\n<strong><em>(I hope the timelines above make sense)</em></strong></p>\r\nIf any of you have questions about a PREMIUM SERVICE subscription please contact me at premiumservice@weeklyfxdrivethru.com.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT150\r\nEUR/GBP\r\nShort\r\nEntry: 0.7965\r\nStop Loss: 0.8000\r\nLimit / Target: 0.7800\r\nWeekly Closing Price: 0.7920\r\nPosition: +45 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong><strong> </strong>\r\n\r\nRT110\r\nAUD/NZD (This pair is hedged from -100 pips)\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0703\r\nPosition: -122 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8731\r\nPosition: -61 pips\r\n\r\nRT125\r\nEUR/USD\r\nShort\r\nCost Average: 1.3599\r\nStop Loss: 1.3670\r\nLimit: 1.3375\r\nWeekly Closing Price: 1.3594\r\nPosition: +5 pips\r\n\r\nThe 4-hour (240 minute) chart below shows why I have a short trade in this pair, ignoring all the fundamental reasons. As you can see we broke out of the up sloping range pattern and fell below the support trend line. We should re-test the trend line break at some stage and head much lower. Fundamental news is on my side. I like this trade. On the Chart below you will see an alternative trade set up based upon a trend line re-test at 1.3620 with horizontal resistance at 1.3643. You could use these numbers as a limit order with stops just above 1.3650. Targeting 1.3450 or lower to the downside.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014.png\"><img class=\"aligncenter size-large wp-image-4031\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014-1024x504.png\" alt=\"EURUSD 240M 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (This pair is hedged from -150 pips)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9615\r\nPosition: -185 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nThe following trade set-ups listed below are placed with my brokers. The markets are going to be even slower than of late as we are now into the beginning of vacation time. I am not expecting much by way of extended moves, but I am prepared. I see more FLASH trades based on pullbacks in the momentum direction being more prevalent as we move forward. Most of these trades will be advised through twitter.\r\n\r\n<span style=\"text-decoration: underline;\">GBP/USD:</span>\r\n\r\nAs I have tweeted and commented on in DAILY FX POSTS I see the GBP/USD as a buy on the dip currency pair moving forward. ON NFP/ECB Thursday, we dipped to just above 1.7100. The 38% of the recent up move comes in at 1.7092. This is my proposed entry. The 50% retracement is at 1.7060 and I have placed my stop at 1.7050. Will I get these levels?\r\n\r\nCable has been very strong of late but it is not adverse to moves that defy comprehension at times so you never know.\r\n\r\nRT126\r\nGBP/USD\r\nShort\r\nEntry: 1.7092\r\nStop: 1.7050\r\nLimit: 1.7300\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4032\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014-1024x504.png\" alt=\"GBPUSD DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n<span style=\"text-decoration: underline;\">USD/CHF:</span>\r\n\r\nI am not sure if am too late to this party or not. There has been big support on many occasions at 0.8910. It gave way recently, then acted as resistance for a day and it is now a fib level and good support once more. My entry long on a pullback is at 0.8910 with my stop just below the trend line support on the chart at 0.8850. My initial target is 0.9110, which has held this pair captive a few times. Should we break through this level and a great deal depends upon the actions of the EUR/USD we could see 0.9350 and 0.9475 again.\r\n\r\nRT127\r\nUSD/CHF\r\nLong\r\nEntry: 0.8910\r\nStop: 0.8850\r\nLimit: 0.9110\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4033\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014-1024x504.png\" alt=\"USDCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF:</span>\r\n\r\nThis pair is the inverted relationship partner of the EUR/GBP. If the CHF moves higher and the GBP rallies at the same time causing the EUR/GBP to fall…this pair could fly higher.\r\n\r\nRT128\r\nGBP/CHF\r\nLong\r\nEntry: 1.5270\r\nStop: 1.5150\r\nLimit: 1.5480\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4034\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014-1024x504.png\" alt=\"GBPCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<span style=\"text-decoration: underline;\">USD/SEK:</span>\r\n\r\nI have been long so many times this pair over the past few months, and yet I managed to miss the recent 2% move…typical.\r\n\r\nThe chart below shows the very bullish move on back of the Riksbank rate cut and the pullback. A very comforting 38% retracement I have a set-up below, I am hoping that we re-test again before resuming higher.\r\n\r\n(This set-up has not yet been placed my brokers)\r\nUSD/SEK\r\nLong\r\nEntry: 6.8120\r\nStop: 6.7600\r\nLimit: 7.5700\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014.png\"><img class=\"aligncenter size-large wp-image-4049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014-1024x504.png\" alt=\"USDSEK 240MINUTES 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3594.</strong> After Draghi’s rather unconvincing performance last Thursday the EUR/USD started to fall and finally broke through 1.3600. We have still to test 1.3575, but if this pair breaks through this level it opens a move once again to 1.3450. In the PREMIUM SERVICE (Trades on my Radar section), I highlighted a trade based on conservative entries, which is part of my overall resistance level. For resistance it would make sense to say that unless we break above 1.3643 it is still bearish.\r\n\r\n<strong>GBP/USD: Closing Price 1.7159</strong>. The charge or slow grind higher as it now appears to be is playing out. I see from years ago the next level of resistance is at 1.7300 and support is 1.7090.\r\n\r\n<strong>AUD/USD: Closing Price 0.9362</strong>. Glenn Stevens the RBA governor talks dirty on currencies and the AUD/USD falls about 70 pips and then consolidates on the back of U.S. equities moving to all time highs in the DOW and S&amp;P. I think that verbal intervention can only be called once and if it doesn’t work to the level you want then you should try another method. The RBA is at this crossroads right now. Looking ahead I see the bull/ bear line in the sand being 0.9330, but we do not get seriously bearish until we break below 0.9210 and resistance lies at 0.9425.\r\n\r\n<strong>NZD/USD: Closing Price 0.8731</strong>. This stubborn pair still will not go down. Milk prices can drop; China data can be patchy but all to no avail. Graeme Wheeler RBNZ governor wants rate increases and a lower exchange rate. Guess what? You can’t have both and the interest rate differential on the Kiwi at 3.25% versus the Aussie at 2.5% is telling, the next higher rate in the western economy is Canada at 1%. There is little chance on carry trades that the Kiwi will lower dramatically sooner unless Wheeler spends millions of dollars directly intervening in the Spot market. We are still within touching distance of all-time highs. My levels are support at 0.8725, then 0.8650 and resistance is 0.8880.\r\n\r\n<strong>USD/CAD: Closing Price 1.0645.</strong> Not too much of a difference in the closing prices week on week. I am not too sure how to play this pair, I thought that I had it in my mind 48 hours ago, but that\'s gone. I am really not too sure what to do. I am looking for a move lower if I were to try a long trade but I would like to see 1.0590 as a support level to buy. Resistance is really at 1.0750.\r\n\r\n<strong>USD/CHF: Closing Price 0.8912</strong>. I posted quite a long viewpoint with a trade set-up on this pair in the trades on my radar section for PREMIUM SERVICE subscribers. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 102.00. </strong>The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 101.50 to 102.60.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong><strong> </strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CHF\r\nGBP/AUD\r\nGBP/CHF\r\nUSD/DKK\r\nUSD/NOK\r\nUSD/SEK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nAUD/CAD\r\nEUR/CAD\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME</strong><strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CAD – Building Permits and IVEY PMi.\r\nMONDAY: AUD – NAB Business Confidence.\r\n\r\nTUESDAY: CNY – CPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. Summer has come early this year.\r\n\r\nWe cannot manufacture trades, we can only deal with what we are presented with and that may not be much. We may just have to sit back a bit more or maybe break for the summer sooner than originally thought. There will be trades, but there will be just less of them with smaller moves. We must adjust to this style of market.\r\n\r\nThe Asian markets offer the thinnest of all trading volumes, so with vacations upon us, we really need to be extremely cautious with trading in Asia, as moves will have the ability to be out of the blue and maybe against the trend. Moves in a thin market can be extreme.\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nIn 3 more weeks, I will be on break for 5 weeks from the PREMIUM SERVICE. There will be continued tweets through through both twitter accounts but these will be ad hoc as I take a break like most traders because in real terms there is very little movement. I may or may not do very brief WEEKLY FX DRIVE THRU blogs but after 7 years of trading I have observed there is very little in August except wait for September to start trading again.\r\n\r\nIn the meantime until next week however, keep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 5th 2014.\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\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&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> </strong>','IS THE FED BEHIND THE CURVE…I THINK THAT IT IS ANOTHER WALL ST VERSUS MAIN ST ','','inherit','open','closed','','4053-revision-v1','','','2014-07-05 10:10:15','2014-07-05 15:10:15','',4053,'https://weeklyfxdrivethru.com/4053-revision-v1/',0,'revision','',0),(4055,1,'2014-07-05 10:12:00','2014-07-05 15:12:00','<strong> </strong>\r\n\r\n<strong>PRE – INTRODUCTION:</strong>\r\n\r\nAs I have now completed my first six months of the PREMIUM SERVICE, for this week only I thought that I would give all “FREE NEWSLETTER” subscribers, LinkedIn, Twitter and Google+ followers a taste of what PREMIUM SERVICE subscribers receive each week in the complete version of the WEEKLY FX DRIVE THRU.\r\n\r\nThere is also a section later #4, where I am discussing the option of keeping the PREMIUM SERVICE trades separate from your own trades. You will see in this section, if you subscribe for a year not only is your annual subscription paid for by a trading bonus through one of my approved brokers but you would have returned a healthy profit 2014 to date with only 50% of the year gone.\r\n\r\nI cannot guarantee future performance but the risk / reward option looks good from my side of the desk! In addition, I work hard 16 hours a day to keep in touch with the markets.\r\n\r\nI hope that you enjoy this version; trade set-ups and trades that are on my radar with charts etc are all included.\r\n\r\nIf this wets your taste buds to join the PREMIUM SERVICE full details on subscriptions can be found on welcome page of my website at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>.\r\n\r\n&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nOn Thursday last week we had a very unusual situation, a Draghi ECB Press Conference and the release of U.S. Non-Farm payrolls on the same day, at the same time, due to the 4<sup>th</sup> July U.S. holiday. The reaction to this potential “Molotov Cocktail” in Forex terms was really rather muted. Many North American traders were already on vacation and the fact that we were already in such low trading volumes anyhow it was a bit of a damp squib event, in my opinion. We only saw minimal moves, nothing extreme at all. I picked up the EUR/GBP short again and for me that was my only new trade. I exited an old AUD/USD short trade on the spike lower, which turned out to be lucky rather than inspired as it bounced back. We did not have the usual drama as it all passed off very peacefully.\r\n\r\nDuring the week we saw Glenn Stevens Governor RBA, talk down the fair value exchange rate regarding the AUD, he actually said the value placed on the currency was more than a couple of cents away from present levels. Given that he first said that the AUD was too strong when the AUD/USD exchange rate was at 0.9000, and he made these latest comments with the AUD/USD at 0.9450, panic mode who knows but definitely uncomfortable for the Australian economy. At the previous level of 0.9000, it was muted that 0.8500 was the objective so that would make it about a 10 cents difference from existing levels. There must be some poor economic data in the pipeline. Retail Sales and the Trade Balance numbers were poor, so if there is continued poor data he will have some help achieving his exchange rate targets….whether in this scenario he can keep his job is debatable.\r\n\r\nWith regards to other Central Bank activity, deflation is still not that far from being the top news item. The Riksbank (SWEDEN), reduced interest rates by 0.50% to 0.25% and caused a 2% rise in the USD/SEK, this was also reflected in the EUR/SEK. Looking around the Central Banks, I think that it is now safe to say that only the BOE and RBNZ are “Hawks” and this will reveal itself in money flows as we move forward, the rest are “Doves” including the FED who’s official line is still Dovish.\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering the period June 2014 and year to date up to 30<sup>th</sup> June 2014.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\"><img class=\"aligncenter size-full wp-image-4000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS1-JUNE-2014.png\" alt=\"PREM SERVICE PROFITS1 JUNE 2014\" width=\"451\" height=\"416\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\"><img class=\"aligncenter size-full wp-image-4001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/PREM-SERVICE-PROFITS-2-YTDJUNE2014.png\" alt=\"PREM SERVICE PROFITS 2 YTDJUNE2014\" width=\"473\" height=\"426\" /></a>\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\"><img class=\"aligncenter size-full wp-image-4041\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-05072014.png\" alt=\"PREM SERV PROFITS1 05072014\" width=\"454\" height=\"426\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\"><img class=\"aligncenter size-full wp-image-4042\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS-2-05072014.png\" alt=\"PREM SERV PROFITS 2 05072014\" width=\"461\" height=\"421\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>IS THE FED BEHIND THE CURVE…OR DO THEY SEE SOMETHING WE DON’T?\r\n(I THINK WE ARE BACK TO YET ANOTHER WALL STREET VERSUS MAIN STREET ISSUE)</strong></p>\r\nFor months now, every time I switch on the TV to watch CNBC or listen to Bloomberg or catch Financial news on CNN, I am bombarded with news of how good the U.S. economy is and how most things economic are at the best levels for years, maybe even since 2008. Yet the FED is still dovish. If everything in the garden is so rosy why is the FED months behind the curve or do they see something more than everyone else is looking at?\r\n\r\nTrying to get a handle on all matters U.S. I went to trading economics to pull off some U.S data. There are obviously 5/6 pages of data; I chose what I consider the important ones for me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\"><img class=\"aligncenter size-full wp-image-4043\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/US-ECONOMIC-DATA-050714.png\" alt=\"US ECONOMIC DATA 050714\" width=\"410\" height=\"537\" /></a>\r\n\r\n&nbsp;\r\n\r\nThere are quite a lot of numbers to absorb and I will yield, in the main they are all going the right way. In fact, I found this exercise very interesting to tabulate these numbers.\r\n\r\nSo why is the FED behind the curve, as I believe that it is? Because, if you glance down these numbers 95% look to be moving in the right direction and things appear to be on the up. Sure, there is the odd blip and most countries have data that falls into this category from time to time. Gets me thinking! Back to one of favourite hunting grounds and my thoughts on the FED being behind the curve brings me back to Wall Street versus Main Street. Let me elaborate.\r\n\r\nBusinesses feel good but consumers in the main do not. TV interviews to the general public and social networks all have comment after comment about how the numbers released by the government have little meaning in day-to-day life at the sharp end as a home owner running a house financially. I believe we are still in the Wall Street versus Main Street argument that has repeatedly raised its head since 2008.\r\n\r\nWhat are four things that really matter to Main Street to bring confidence?\r\n<ol>\r\n	<li>(CONSUMER) SPENDING.</li>\r\n	<li>HOUSING.</li>\r\n	<li>PRICE OF FOOD.</li>\r\n	<li>GAS PRICES.</li>\r\n	<li>EMPLOYMENT.</li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">CONSUMER SPENDING:</span>\r\n\r\nI read an article last week on why the equity markets keep grinding up and asking who it is that keeps them moving up bit by bit. There are days when the odd pension fund re-balances holdings but in the main the biggest buyers at the moment are the companies themselves buying back their own stock. Why are they doing this? This is done to serve the Wall Street analysts. If companies buy back stock the earnings per share (EPS) rises and this is a key measurement that deflects any critics off the lack of top line sales income.\r\n\r\nAlthough the statistics are starting to rise the U.S. is still the ultimate consumer driven society. The U.S. shops like no other country in the world. If spending and confidence is down the economy suffers. Right now the effects of food inflation can be felt immediately every week in the grocery bills. This is a direct and an immediate tax straight into the household budget. Consumer confidence, consumer spending and disposable income available on average is up, yet retail sales are down. I believe that when the effects of the recent hike in Gas Prices works its way into these statistics confidence numbers will decrease because consumers will have a fear of spending.\r\n\r\n<span style=\"text-decoration: underline;\">HOUSING:</span>\r\n\r\nOf late we have seen investment companies move in to buy up vacant homes creating shortfalls in places, or so we are told. However, obtaining a mortgage to buy is very, very hard, as the loan criteria have been elevated. If there is NO regular movement of housing and people moving around then all the ancillary employment of Plumbers, Carpenters, Electricians doesn’t happen and spending at Home Depot and Lowe’s doesn’t happen either. Removal companies remain idle. Spending stops. This is probably the most crucial of all spending to monitor, as this turns lack of confidence into lots of confidence when there is some action. Apart from a few pockets dotted around the country housing is still flat.\r\n\r\n<span style=\"text-decoration: underline;\">PRICE OF FOOD:\r\n</span>\r\nCommodity prices are up and up, lean hogs; coffee and cattle prices to name but three items are all elevated. This is a direct tax, felt immediately in weekly grocery bills and causes families to cut back on non-essentials. Discretionary spending which the U.S. needs to keep inventories moving comes to a halt.\r\n\r\n<span style=\"text-decoration: underline;\">GAS PRICES:</span>\r\n\r\nWe are now at the highest gas prices in the U.S. since 2008. Need I say more? All over the world fuel costs are an immediate hidden stealth tax that is talked about every day in the news and in bars and coffee shops. If ever there was a dampener on consumer confidence this is it.\r\n\r\n<span style=\"text-decoration: underline;\">EMPLOYMENT:</span>\r\nThe figures released on July 3<sup>rd</sup> now state that over a million new jobs have been created in the U.S. this year alone and that the unemployment rate for the country has now dropped to 6.1%. Just before the numbers were released pundits were saying the new job number would be good but there would be an increase in the percentage because more of the longer-term unemployed that dropped off the system were coming back and registering. Well that never happened. There are debates after debate on exactly what the true unemployment rate is in the U.S. I have read 10%+, 12%+ nobody knows but people including the ex FED chairman Ben Bernanke often referred to the mass exodus of job seekers who give up and take themselves out of the system.\r\nIf you are in a job you want job security, in fairness with the talk about how good things are employed people should feel more secure now as they are being told that the economy is on the up and that businesses are moving forward. I think window dressing, with regards to financial accounts, is taking place, but I do see that the economy is moving forward as well (Window dressing of financial accounts always takes place).\r\n\r\n&nbsp;\r\n\r\nThe only question is if you have a job and you are being told all is great but your living expenses are higher does that give you confidence?\r\n\r\nIn my opinion, the economic business data for now reflects a very positive spin on the U.S. economy. I think that the FED through Janet Yellen see “headwinds” from Main Street coming in very quickly hence their lack of desire to talk about raising interest rates as this would only be another nail in the coffin. The Fed is probably hoping that gas prices at least may fall back down after the holiday weekend and that would be viewed as positive, but I do feel that food inflation is something that the U.S. has not had to fight of late and without being sexist here, the female who tends to hold the purse strings will be savvier on future spending based upon food inflation rather than the male putting gas in the car.\r\n\r\nNow if we add TAPERING into the equation, what does it mean?\r\n\r\nI think in the simplest of terms, for all the money spent by the FED to try and bring down unemployment and boost housing through easing, QE has been a disaster of the first order. All it did was make fat cats on Wall Street, fatter!\r\n\r\nThe FED has to continue with tapering until the end of 2014 as its policy states. If there was no crutch for Wall Street would it survive? In a one word answer YES.\r\n\r\nTapering does not have a massive direct effect on Main Street. Tapering coming to an end does however make Wall Street more commercial and through being more commercial it will look to grow business through sales initiatives and competition, which should induce both consumer confidence and spending.\r\n\r\nIt is a merry-go-round; it is the job of the FED to kick-start the circus ride and get all the participants in place to get on board. It is a delicate operation and needs fine precision. I am a huge critic of central banks; I do not believe a word that governors say most of the time. They are economic with the truth. However, on this occasion I feel that Yellen’s reluctance to turn “Hawk” is justified and I see the headwinds on the horizon.\r\n\r\nWhether these are what the FED has on it’s mind who knows.\r\n\r\nAre there any trades from this data?\r\n\r\nI still haven’t changed my mind about this, as the FED tightens through tapering eventually this has to be reflected in a stronger USD.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong>\r\n\r\n<strong>IS THERE A CASE FOR A SEPARATE BROKER ACCOUNT FOR PREMIUM SERVICE TRADES?</strong>\r\n\r\nI wanted to review the PREMIUM SERVICE performance so far this year in a little more depth and offer an option to consider.\r\n\r\nWhen I decided that I was going to embark upon the PREMIUM SERVICE edition in June 2013, I initially looked at the types of trades that was doing and the risks that I was taking. I sharpened my pencil and started to trade with two types of trades that I eventually called RADAR (Limit Order) and FLASH (Pullback / Momentum) trades. I added FUNDAMENTAL much later, these are based upon my longer-term views and as you can see I am still not 100% on board with these as yet, I think you call this work in progress.\r\n\r\nI separate my PREMIUM SERVICE trades from personal trades for obvious reporting reasons, but doing this has thrown up a valid reason why maybe all subscribers to the PREMIUM SERVICE should do likewise.\r\n\r\nMeasurement and Performance comparisons are instantaneous. This is not only good for analysis, but also for motivation. The psychological advantage of being able to readily evaluate longer-term trading performance in an instant is a great tool to have a your disposal.\r\n\r\nAt the end of the day, it is consistency that drives profits and account separation makes this crystal clear. My data is broken down even more as certain types of trades are done with specific brokers and specific currency pairs are also with specific brokers. (I am 50% through writing an article on multi-broker trading for this section for some time in the near future)\r\n\r\nThe chart below shows the net performance of trading in either MACRO, MINI or STANDARD lots up to 30<sup>th</sup> June 2014, having a 40 week PREMIUM SERVICE subscription and opening a separate account through BLACKWELL GLOBAL (link on the welcome page of the WEEKLY FX DRIVE THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>) which for the short-term I have a marketing / TRADING BONUS scheme in operation. Basically, the TRADING BONUS covers the cost of the PREMIUM SERVICE subscription. But you must click on the link on my website to qualify for the bonus.\r\n\r\nThe performance is self-explanatory. If ever there was a time to consider this, now is that time.\r\n\r\nI operate my Forex Trading in a business style. For me instant assessment is paramount, it may be the same for you, and if not, maybe you should consider it.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\"><img class=\"aligncenter size-full wp-image-4006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/P-SERV-PROF-CALCS-AD-JUNE14.png\" alt=\"P SERV PROF CALCS AD JUNE14\" width=\"539\" height=\"467\" /></a>\r\n\r\nWhy not open a separate account with me and try it? As long as your initial funding is over USD$1,000.00 you qualify for a 30% TRADING BONUS. The maximum bonus payable is USD$3,000.00. Once your account is 100% open and funded I will organize the TRADING BONUS it takes about 3 to 4 days maximum.\r\n<p style=\"text-align: center;\">Please note an annual subscription is 40 weeks and per year and I do not count the weeks when there is no blog as part of the subscription period.</p>\r\n<strong><em>For example: -</em></strong>\r\n<p style=\"text-align: center;\"><strong><em>A 40-week subscription would in real terms be until this time next year 2015.</em></strong>\r\n<strong><em>A 10-week subscription would end October 18<sup>th</sup> 2014.</em></strong>\r\n<strong><em>A 20-week subscription would end January 24<sup>th</sup> 2015.</em></strong>\r\n<strong><em>(I hope the timelines above make sense)</em></strong></p>\r\nIf any of you have questions about a PREMIUM SERVICE subscription please contact me at premiumservice@weeklyfxdrivethru.com.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT150\r\nEUR/GBP\r\nShort\r\nEntry: 0.7965\r\nStop Loss: 0.8000\r\nLimit / Target: 0.7800\r\nWeekly Closing Price: 0.7920\r\nPosition: +45 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong><strong> </strong>\r\n\r\nRT110\r\nAUD/NZD (This pair is hedged from -100 pips)\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0703\r\nPosition: -122 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8731\r\nPosition: -61 pips\r\n\r\nRT125\r\nEUR/USD\r\nShort\r\nCost Average: 1.3599\r\nStop Loss: 1.3670\r\nLimit: 1.3375\r\nWeekly Closing Price: 1.3594\r\nPosition: +5 pips\r\n\r\nThe 4-hour (240 minute) chart below shows why I have a short trade in this pair, ignoring all the fundamental reasons. As you can see we broke out of the up sloping range pattern and fell below the support trend line. We should re-test the trend line break at some stage and head much lower. Fundamental news is on my side. I like this trade. On the Chart below you will see an alternative trade set up based upon a trend line re-test at 1.3620 with horizontal resistance at 1.3643. You could use these numbers as a limit order with stops just above 1.3650. Targeting 1.3450 or lower to the downside.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014.png\"><img class=\"aligncenter size-large wp-image-4031\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-240M-05072014-1024x504.png\" alt=\"EURUSD 240M 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (This pair is hedged from -150 pips)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9615\r\nPosition: -185 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nThe following trade set-ups listed below are placed with my brokers. The markets are going to be even slower than of late as we are now into the beginning of vacation time. I am not expecting much by way of extended moves, but I am prepared. I see more FLASH trades based on pullbacks in the momentum direction being more prevalent as we move forward. Most of these trades will be advised through twitter.\r\n\r\n<span style=\"text-decoration: underline;\">GBP/USD:</span>\r\n\r\nAs I have tweeted and commented on in DAILY FX POSTS I see the GBP/USD as a buy on the dip currency pair moving forward. ON NFP/ECB Thursday, we dipped to just above 1.7100. The 38% of the recent up move comes in at 1.7092. This is my proposed entry. The 50% retracement is at 1.7060 and I have placed my stop at 1.7050. Will I get these levels?\r\n\r\nCable has been very strong of late but it is not averse to moves that defy comprehension at times so you never know.\r\n\r\nRT126\r\nGBP/USD\r\nShort\r\nEntry: 1.7092\r\nStop: 1.7050\r\nLimit: 1.7300\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4032\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPUSD-DAILY-05072014-1024x504.png\" alt=\"GBPUSD DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n<span style=\"text-decoration: underline;\">USD/CHF:</span>\r\n\r\nI am not sure if am too late to this party or not. There has been big support on many occasions at 0.8910. It gave way recently, then acted as resistance for a day and it is now a fib level and good support once more. My entry long on a pullback is at 0.8910 with my stop just below the trend line support on the chart at 0.8850. My initial target is 0.9110, which has held this pair captive a few times. Should we break through this level and a great deal depends upon the actions of the EUR/USD we could see 0.9350 and 0.9475 again.\r\n\r\nRT127\r\nUSD/CHF\r\nLong\r\nEntry: 0.8910\r\nStop: 0.8850\r\nLimit: 0.9110\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4033\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/USDCHF-DAILY-05072014-1024x504.png\" alt=\"USDCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GBP/CHF:</span>\r\n\r\nThis pair is the inverted relationship partner of the EUR/GBP. If the CHF moves higher and the GBP rallies at the same time causing the EUR/GBP to fall…this pair could fly higher.\r\n\r\nRT128\r\nGBP/CHF\r\nLong\r\nEntry: 1.5270\r\nStop: 1.5150\r\nLimit: 1.5480\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014.png\"><img class=\"aligncenter size-large wp-image-4034\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/GBPCHF-DAILY-05072014-1024x504.png\" alt=\"GBPCHF DAILY 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<span style=\"text-decoration: underline;\">USD/SEK:</span>\r\n\r\nI have been long so many times this pair over the past few months, and yet I managed to miss the recent 2% move…typical.\r\n\r\nThe chart below shows the very bullish move on back of the Riksbank rate cut and the pullback. A very comforting 38% retracement I have a set-up below, I am hoping that we re-test again before resuming higher.\r\n\r\n(This set-up has not yet been placed my brokers)\r\nUSD/SEK\r\nLong\r\nEntry: 6.8120\r\nStop: 6.7600\r\nLimit: 7.5700\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014.png\"><img class=\"aligncenter size-large wp-image-4049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDSEK-240MINUTES-05072014-1024x504.png\" alt=\"USDSEK 240MINUTES 05072014\" width=\"1024\" height=\"504\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3594.</strong> After Draghi’s rather unconvincing performance last Thursday the EUR/USD started to fall and finally broke through 1.3600. We have still to test 1.3575, but if this pair breaks through this level it opens a move once again to 1.3450. In the PREMIUM SERVICE (Trades on my Radar section), I highlighted a trade based on conservative entries, which is part of my overall resistance level. For resistance it would make sense to say that unless we break above 1.3643 it is still bearish.\r\n\r\n<strong>GBP/USD: Closing Price 1.7159</strong>. The charge or slow grind higher as it now appears to be is playing out. I see from years ago the next level of resistance is at 1.7300 and support is 1.7090.\r\n\r\n<strong>AUD/USD: Closing Price 0.9362</strong>. Glenn Stevens the RBA governor talks dirty on currencies and the AUD/USD falls about 70 pips and then consolidates on the back of U.S. equities moving to all time highs in the DOW and S&amp;P. I think that verbal intervention can only be called once and if it doesn’t work to the level you want then you should try another method. The RBA is at this crossroads right now. Looking ahead I see the bull/ bear line in the sand being 0.9330, but we do not get seriously bearish until we break below 0.9210 and resistance lies at 0.9425.\r\n\r\n<strong>NZD/USD: Closing Price 0.8731</strong>. This stubborn pair still will not go down. Milk prices can drop; China data can be patchy but all to no avail. Graeme Wheeler RBNZ governor wants rate increases and a lower exchange rate. Guess what? You can’t have both and the interest rate differential on the Kiwi at 3.25% versus the Aussie at 2.5% is telling, the next higher rate in the western economy is Canada at 1%. There is little chance on carry trades that the Kiwi will lower dramatically sooner unless Wheeler spends millions of dollars directly intervening in the Spot market. We are still within touching distance of all-time highs. My levels are support at 0.8725, then 0.8650 and resistance is 0.8880.\r\n\r\n<strong>USD/CAD: Closing Price 1.0645.</strong> Not too much of a difference in the closing prices week on week. I am not too sure how to play this pair, I thought that I had it in my mind 48 hours ago, but that\'s gone. I am really not too sure what to do. I am looking for a move lower if I were to try a long trade but I would like to see 1.0590 as a support level to buy. Resistance is really at 1.0750.\r\n\r\n<strong>USD/CHF: Closing Price 0.8912</strong>. I posted quite a long viewpoint with a trade set-up on this pair in the trades on my radar section for PREMIUM SERVICE subscribers. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 102.00. </strong>The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 101.50 to 102.60.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong><strong> </strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CHF\r\nGBP/AUD\r\nGBP/CHF\r\nUSD/DKK\r\nUSD/NOK\r\nUSD/SEK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nAUD/CAD\r\nEUR/CAD\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME</strong><strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CAD – Building Permits and IVEY PMi.\r\nMONDAY: AUD – NAB Business Confidence.\r\n\r\nTUESDAY: CNY – CPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. Summer has come early this year.\r\n\r\nWe cannot manufacture trades, we can only deal with what we are presented with and that may not be much. We may just have to sit back a bit more or maybe break for the summer sooner than originally thought. There will be trades, but there will be just less of them with smaller moves. We must adjust to this style of market.\r\n\r\nThe Asian markets offer the thinnest of all trading volumes, so with vacations upon us, we really need to be extremely cautious with trading in Asia, as moves will have the ability to be out of the blue and maybe against the trend. Moves in a thin market can be extreme.\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nIn 3 more weeks, I will be on break for 5 weeks from the PREMIUM SERVICE. There will be continued tweets through through both twitter accounts but these will be ad hoc as I take a break like most traders because in real terms there is very little movement. I may or may not do very brief WEEKLY FX DRIVE THRU blogs but after 7 years of trading I have observed there is very little in August except wait for September to start trading again.\r\n\r\nIn the meantime until next week however, keep your position sizes a little smaller and stops a little wider to allow for any lack of liquidity swings and hopefully you will get by.\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 5th 2014.\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\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&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> </strong>','IS THE FED BEHIND THE CURVE…I THINK THAT IT IS ANOTHER WALL ST VERSUS MAIN ST ','','inherit','open','closed','','4053-revision-v1','','','2014-07-05 10:12:00','2014-07-05 15:12:00','',4053,'https://weeklyfxdrivethru.com/4053-revision-v1/',0,'revision','',0),(4057,1,'2014-07-08 07:20:10','2014-07-08 12:20:10','Good Day,\r\n\r\nIt\'s great to be back again without connectivity issues...the early morning storms yesterday were freaky. Even the dogs would not go out for wee-wees!!\r\n\r\n<span style=\"text-decoration: underline;\"><strong>OVERVIEW:</strong></span>\r\n\r\nWe are still in  a slow-moving environment. This will not change until we head into September.\r\n\r\nI am now looking for smaller profits to keep my broker account ticking upwards. I will not let trades to get too far away from me. If I see breaks against me I will cut and run. This is <span style=\"text-decoration: underline;\"><strong>NOT</strong></span> my style of trading but I need to adjust in the summer. Below I will give my thoughts on existing live trades.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>CURRENT TRADES MY THOUGHTS ON EXITS:</strong></span>\r\n\r\nGBP/NZD - long - Fundamental long-term trade - hedged...holding.\r\n\r\nAUD/NZD - long - Longer term holding.\r\n\r\nUSD/SEK - long - protective stop just above break even in place. Moves have been very strong a deep on downside moves.\r\n\r\nEUR/USD - short - Happy to hold this longer term given fundamentals.\r\n\r\nNZD/USD - short - Holding...but not 100% happy. Shorting against all-time highs...will hold.\r\n\r\nEUR/GBP - short - holding given the GBP and EUR fundamentals.\r\n\r\nGBP/USD - long - trend line resistance is at 1.7132...looking to keep but this but 1.7132 may hold it up today...will sell if 1.7132 contains at bank $$$$ I will also sell if it hits 1.7112, this is my target for $$$$\r\n\r\nGBP/CHF - long - invert relationship with EUR/GBP, I want to hold but GBP action will dictate. If GBP falls I will exit and bank $$$$$\r\n\r\nAUD/USD - short - holding short against 0.9525 and fundamentals from RBA.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>NEW FLASH TRADE:</strong></span>\r\n\r\nFT 153 (entry on 15M pullback)\r\nUSD/CAD\r\nLong at 1.0676\r\nStop Loss at 1.0575\r\nLimit 1.0828 (61.8% fib on chart below)\r\n\r\nLooking to add above 1.0700 and 1.0750.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDCAD-DAILY-08072014.png\"><img class=\"aligncenter size-large wp-image-4056\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDCAD-DAILY-08072014-1024x504.png\" alt=\"USDCAD DAILY 08072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\nHope that this is useful.\r\n\r\nScott','#64 - THE DAILY FX POST, Tuesday 8th July 2014','','publish','open','closed','','64-daily-fx-post-tuesday-8th-july-2014','','','2014-07-08 07:20:10','2014-07-08 12:20:10','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4057',0,'member_posts','',0),(4058,1,'2014-07-08 07:19:10','2014-07-08 12:19:10','Good Day,\r\n\r\nIt\'s great to be back again without connectivity issues...the early morning storms yesterday were freaky. Even the dogs would not go out for wee-wees!!\r\n\r\n<span style=\"text-decoration: underline;\"><strong>OVERVIEW:</strong></span>\r\n\r\nWe are still in  a slow moving environment. This will not change until we head into September.\r\n\r\nI am now looking for smaller profits to keep my broker account ticking upwards. I will therefore not let trades to get too far away from me. If I see breaks against me I will cut and run. This is <span style=\"text-decoration: underline;\"><strong>NOT</strong></span> my style of trading but I need to adjust in the summer. Below I will give my thoughts on existing live trades.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>CURRENT TRADES MY THOUGHTS ON EXITS:</strong></span>\r\n\r\nGBPNZD - long - Fundamental long term trade - hedged...holding.\r\n\r\nAUD/NZD - long - Longer term holding.\r\n\r\nUSD/SEK - long - protective stop just above break even in place. Moves have been very strong a deep on downside moves.\r\n\r\nEUR/USD - short - Happy to hold this longer term given fundamentals.\r\n\r\nNZD/USD - short - Holding...but not 100% happy. Shorting against all-time highs...will hold.\r\n\r\nEUR/GBP - short - holding given the GBP and EUR fundamentals.\r\n\r\nGBP/USD - long - trend line resistance is at 1.7132...looking to keep but this but 1.7132 may hold it up today...will sell if 1.7132 contains at bank $$$$ I will also sell if it hits 1.7112, this is my target for $$$$\r\n\r\nGBP/CHF - long - invert relationship with EUR/GBP, I want to hold but GBP action will dictate. If GBP falls I will exit and bank $$$$$\r\n\r\nAUD/USD - short - holding short against 0.9525 and fundamentals from RBA.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>NEW FLASH TRADE:</strong></span>\r\n\r\nFT153 (entry on 15M pullback)\r\nUSD/CAD\r\nLong at 1.0676\r\nStop Loss at 1.0575\r\nLimit 1.0828 (61.8% fib on chart below)\r\n\r\nLooking to add above 1.0700 and 1.0750.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDCAD-DAILY-08072014.png\"><img class=\"aligncenter size-large wp-image-4056\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDCAD-DAILY-08072014-1024x504.png\" alt=\"USDCAD DAILY 08072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\nHope that this is useful.\r\n\r\nScott','#64 - THE DAILY FX POST, Tuesday 8th July 2014','','inherit','open','closed','','4057-revision-v1','','','2014-07-08 07:19:10','2014-07-08 12:19:10','',4057,'https://weeklyfxdrivethru.com/4057-revision-v1/',0,'revision','',0),(4059,1,'2014-07-08 07:20:10','2014-07-08 12:20:10','Good Day,\r\n\r\nIt\'s great to be back again without connectivity issues...the early morning storms yesterday were freaky. Even the dogs would not go out for wee-wees!!\r\n\r\n<span style=\"text-decoration: underline;\"><strong>OVERVIEW:</strong></span>\r\n\r\nWe are still in  a slow-moving environment. This will not change until we head into September.\r\n\r\nI am now looking for smaller profits to keep my broker account ticking upwards. I will not let trades to get too far away from me. If I see breaks against me I will cut and run. This is <span style=\"text-decoration: underline;\"><strong>NOT</strong></span> my style of trading but I need to adjust in the summer. Below I will give my thoughts on existing live trades.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>CURRENT TRADES MY THOUGHTS ON EXITS:</strong></span>\r\n\r\nGBP/NZD - long - Fundamental long-term trade - hedged...holding.\r\n\r\nAUD/NZD - long - Longer term holding.\r\n\r\nUSD/SEK - long - protective stop just above break even in place. Moves have been very strong a deep on downside moves.\r\n\r\nEUR/USD - short - Happy to hold this longer term given fundamentals.\r\n\r\nNZD/USD - short - Holding...but not 100% happy. Shorting against all-time highs...will hold.\r\n\r\nEUR/GBP - short - holding given the GBP and EUR fundamentals.\r\n\r\nGBP/USD - long - trend line resistance is at 1.7132...looking to keep but this but 1.7132 may hold it up today...will sell if 1.7132 contains at bank $$$$ I will also sell if it hits 1.7112, this is my target for $$$$\r\n\r\nGBP/CHF - long - invert relationship with EUR/GBP, I want to hold but GBP action will dictate. If GBP falls I will exit and bank $$$$$\r\n\r\nAUD/USD - short - holding short against 0.9525 and fundamentals from RBA.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>NEW FLASH TRADE:</strong></span>\r\n\r\nFT 153 (entry on 15M pullback)\r\nUSD/CAD\r\nLong at 1.0676\r\nStop Loss at 1.0575\r\nLimit 1.0828 (61.8% fib on chart below)\r\n\r\nLooking to add above 1.0700 and 1.0750.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDCAD-DAILY-08072014.png\"><img class=\"aligncenter size-large wp-image-4056\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDCAD-DAILY-08072014-1024x504.png\" alt=\"USDCAD DAILY 08072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\nHope that this is useful.\r\n\r\nScott','#64 - THE DAILY FX POST, Tuesday 8th July 2014','','inherit','open','closed','','4057-revision-v1','','','2014-07-08 07:20:10','2014-07-08 12:20:10','',4057,'https://weeklyfxdrivethru.com/4057-revision-v1/',0,'revision','',0),(4061,1,'2014-07-09 07:18:32','2014-07-09 12:18:32','Good Day,\r\n\r\nWow, we really are very tight ranges. Not really much to look at except that the NZD strength continues to annoy me and I am starting to think that until we test the stops at 0.8880 we are not going to say enough.....and then start to pullback. I would say that both Wheeler (RBNZ) and Stevens (RBA) are pulling teeth on the elevated levels of both the NZD and AUD at the moment. They are going to have to get creative to weaken their currencies. Verbal intervention does not work.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EXISTING LIVE TRADES OVERVIEW:</strong></span>\r\n\r\nEUR/USD (SHORT) -  In a 30 pip range....it really needs a break below 1.3575 to open up for the bears to attack. On the 60M chart it looks like a bit of a flag formation could be possible with a measured move to just on 1.3200. But we need to break below 1.3575 for this to come into play.\r\n\r\nUSD/CAD (LONG) - looks like we may pull back to 1.0650 before moving forward.  I am in a small position but I need to see a break above 1.0700 to add to my existing position size.\r\n\r\nGBP/NZD (LONG) - long term FUNDAMENTAL trade hedged at 150 pips.\r\n\r\nAUD/USD (LONG) - holding hedged at 100 pips.\r\n\r\nNZD/USD (SHORT) - My most annoying trade at the moment. I am holding and expecting a run for the highs. I will add on highs to the position.\r\n\r\nEUR/GBP (SHORT) - Fundamental news regarding EUR and GBP  is keeping me short but \'cable\" is concerning me unless it starts to move higher after this consolidation period.\r\n\r\nAUD/USD (SHORT) - holding and looking to add below 0.9320.\r\n\r\nThose are my thoughts on the existing live trades. I am not looking to add any more trades right now unless we see some movement in the markets. The tight ranges across the board will eventually break but its all about patience. Right now we are in a one-sided market and until sellers start to re-appear it going to remain tight and a period low volatility.\r\n\r\nIf I see anything I will tweet. It is even difficult on pullback trades as the charts are so messy...\r\n\r\nScott','#65 - THE DAILY FX POST, Wednesday 9th July 2014','','inherit','open','closed','','4060-revision-v1','','','2014-07-09 07:18:32','2014-07-09 12:18:32','',4060,'https://weeklyfxdrivethru.com/4060-revision-v1/',0,'revision','',0),(4062,1,'2014-07-10 07:26:07','2014-07-10 12:26:07','Good Day,\r\n\r\nWow..... more movement.\r\n\r\nYesterday, I missed the morning flurry as I decided to walk one of my dogs and after the USD sell-off post FOMC when my trades got crushed I thought a bottle of wine / Jack Daniels time. Then last night Chinese Trade balance data triggered USD strength across the board except for the \"Nordics\" who  (NOK &amp; SEK) both had better inflation data so they never had the moves. Earlier today we have data from the Eurozone that was below par. The result......USD strength and equities selling off in Europe. U.S. futures were off but beware this is North America they could bounce because good news or bad news U.S. equities always go up!!\r\n\r\nI re-entered my AUD/USD, I still cannot fathom pout how my limit price changed from the original trade FT152. I upped the stop to 0.9525. It must have been at that time...but who knows?\r\n\r\nUSD/JPY is sitting very close to 101.25, which is a break down point in my opinion, below here minor support at 100.75 then its sub 100.00. If the USD/JPY breaks down this will trigger a huge amount of JPY strength across all JPY pairs. This is my focus as well as the EUR/USD below 1.3575.\r\n\r\nI will tweet if I add change or close trades.\r\n\r\nGood Luck today, but beware of false moves we are in the U.S. session.\r\n\r\nScott\r\n\r\n&nbsp;','#66 - THE DAILY FX POST, Thursday 10th July 2014','','publish','open','closed','','66-daily-fx-post-thursday-10th-july-2014','','','2014-07-10 07:26:07','2014-07-10 12:26:07','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4062',0,'member_posts','',0),(4063,1,'2014-07-10 07:25:52','2014-07-10 12:25:52','Good Day,\r\n\r\nWow..... more movement.\r\n\r\nYesterday, I missed the morning flurry as I decided to walk one of my dogs and after the USD sell-off post FOMC when my trades got crushed I thought a bottle of wine / Jack Daniels time. Then last night Chinese Trade balance data triggered USD strength across the board except for the \"Nordics\" who  (NOK &amp; SEK) both had better inflation data so they never had the moves. Earlier today we have data from the Eurozone that was below par. The result......USD strength and equities selling off in Europe. U.S. futures were off but beware this is North America they could bounce because good news or bad news U.S. equities always go up!!\r\n\r\nI re-entered my AUD/USD, I still cannot fathom pout how my limit price changed from the original trade FT152. I upped the stop to 0.9525. It must have been at that time...but who knows?\r\n\r\nUSD/JPY is sitting very close to 101.25, which is a break down point in my opinion, below here minor support at 100.75 then its sub 100.00. If the USD/JPY breaks down this will trigger a huge amount of JPY strength across all JPY pairs. This is my focus as well as the EUR/USD below 1.3575.\r\n\r\nI will tweet if I add change or close trades.\r\n\r\nGood Luck today, but beware of false moves we are in the U.S. session.\r\n\r\nScott\r\n\r\n&nbsp;','#66 - THE DAILY FX POST, Thursday 10th July 2014','','inherit','open','closed','','4062-revision-v1','','','2014-07-10 07:25:52','2014-07-10 12:25:52','',4062,'https://weeklyfxdrivethru.com/4062-revision-v1/',0,'revision','',0),(4117,1,'2014-07-19 10:33:52','2014-07-19 15:33:52','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nFrom a trading perspective this week, we continued to work within very tight ranges in the Forex market although there was more volatility than in previous weeks.\r\n\r\nHowever, geopolitical news events over shadowed the markets with a B777 commercial jet operated by Malaysian Airlines shot down by a missile over the Ukraine, the Israeli army moving into Gaza, militants attacking Kabul airport in Afghanistan and Isis militants in Iraq continuing to fight Iraqi forces to control more land mass.\r\n\r\nThere is a lot of trouble hanging over the markets like the “Sword of Damocles”.\r\n\r\nWhen Economic data is released in the U.S. whether it is good news or bad news – the reaction from the equity markets is that they rise regardless. I believe this happens based on the fact that traders believe that the FED will always be a backstop. To some extent, I expect the FED to support equities should geopolitical news place U.S. equities under pressure. However, given the fact that Quantitative Easing, in my opinion, did NOT achieve all its goals and now the FED has moved monetary policy to tightening away from easing, I am NOT so sure that they would be as anxious to step in as quickly given the fact geopolitical news should be sorted in the first instance by politicians. (My God, there’s subject matter for a few blogs in that last sentence alone!!)\r\n\r\nThe Kiwi finally started a move lower on the back of weaker dairy prices and a CPi data miss. It will be interesting to see what happens this week at the RBNZ meeting and Glenn Wheeler’s statement. The markets were expecting a further 0.25% increase in interest rates but weakening dairy prices, recent economic data misses and the China slowdown uncertainty may delay this move. If that should happen, we could see the NZD/USD target 0.8500 very quickly. If he does increase rates we should move higher once again but I am NOT so certain that a test of the 52-week highs of 0.8842 will be on the cards. However, as James Bond once said…”Never Say Never!!”\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nIn between all the news, I have been working away on a presentation to take the PREMIUM SERVICE on the road later this year in Montreal, and, I have set my objectives to be included in my TRADING PLAN for 2015.\r\n\r\nWith regards to the PREMIUM SERVICE the income from single-lot trades continues to grow each week. This gives me in my opinion, a very good compelling argument to approach new and part-time traders with a great affordable working Forex trading options.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by adding and reducing trades as moves develop has really paid off on two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\nI have added to my list of broker relationships FXCM. I have obtained some great special reduced rate spreads for PREMIUM SERVICE subscribers. If you want to take advantage of these you need to contact me direct by email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a> so that I can manually provide you with a link to obtain better rate spreads.\r\n\r\nAs a Forex trader of 7 years, I have had several relationships with Forex Brokers. I have tested many and removed many for various reasons from my portfolio.\r\n\r\nI now have two that I am very happy to call my preferred brokers for my readers of both blogs, they are: FXCM and BLACKWELL GLOBAL. They both offer different approaches and depending upon the type of trader and experience you have, they provide service options that fits what I have been looking for to offer PREMIUM SERVICE subscribers and readers of the WEEKLY FX DRIVE THRU.\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-19072014.png\"><img class=\"aligncenter size-full wp-image-4112\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-19072014.png\" alt=\"PREM SERV PROFITS1 19072014\" width=\"450\" height=\"419\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-19072014.png\"><img class=\"aligncenter size-full wp-image-4113\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-19072014.png\" alt=\"PREM SERV PROFITS2 19072014\" width=\"463\" height=\"423\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:</strong><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>PART 1\r\n</strong></p>\r\n<p style=\"text-align: center;\"><strong>HOW DO I CHOOSE A FX BROKER?</strong><strong> </strong><strong>\r\n</strong></p>\r\n<strong>INTRODUCTION:</strong>\r\n\r\nFor quite sometime I have been working on a piece for this blog on brokers. As most of my regular readers will know, I have been trading Forex for over 7 years, in fact, my LINKEDIN accounts sent out hundreds of 7 year anniversary messages a few weeks ago and my inbox has been bombarded ever since…hence I know that 7 years is a pretty accurate timeline to write.\r\n\r\nFor me, trading Forex is like anything else in business. I look at my Forex accounts with my brokers as business partnerships. I pay for a service they charge me competitively for that service (some more competitive than others!!) and fulfill what I want, which is hopefully to make $$$.\r\n\r\nThe reason that this article has been delayed is quite simply due to the following reasons.\r\n<ol>\r\n	<li>When I decided to launch the PREMIUM SERVICE, I did so knowing that I wanted subscribers to be able to go to my website click on anything that is loaded on to my pages, knowing that I have 100% approved the link to a third party.</li>\r\n	<li>Prior to the PREMIUM SERVICE, I had relationships with four Forex brokers. I still have those relationships today. However, on launching the PREMIUM SERVICE there was a gap in what my prior brokers’ offered based upon my target sector for PREMIUM SERVICE subscribers and I therefore needed to add relationships. The gap by the way was the fact that my prior brokers only offered trades with Mini or Standard lots.</li>\r\n	<li>So in order to facilitate a full range of trading options I added four additional brokers; IRON FX, SENSUS-CAPITAL MARKETS, BLACKWELL GLOBAL and FXCM (This company was held in the background as changes were made throughout 2014 to my broker relationships for PREMIUM SERVICE subscribers).</li>\r\n	<li>If you look at my website today, only BLACKWELL GLOBAL and FXCM remain from the original new brokers. I will explain why they are the only ones left and why the others were removed as this article progresses.</li>\r\n</ol>\r\n<strong>\r\nCHOOSING AN FX BROKER - IS IT REALLY A MINEFIELD?</strong><strong> </strong>\r\n\r\nShort answer…. yes it can be!\r\n\r\nTo be perfectly honest, personally, I find choosing a broker to partner with, painful at times. At the outset, the salesperson that you speak to is over you like a rash. You know that the promises made to you about everything being just brilliant when you hand over your $$$ is just sales talk that you have to accept in many cases, there are always exceptions but I believe the 80/20 rule applies here. Unfortunately 80% are bad and only 20% are good. This is a very sad reflection upon the Forex Industry. It is a case of buyer beware.\r\n\r\nThe selling process and the promises made about customer service and reliability of the software used in so many occasions just makes it impossible for such customer service standards to ever to be achieved.\r\n\r\nWhat do I look for in my broker relationships?\r\n<ul>\r\n	<li>Software that does not crash, it has to be reliable.</li>\r\n	<li>Good customer service after depositing $$$ irrespective of the size of the balance maintained in the account.</li>\r\n	<li>Fast and effective execution speeds.</li>\r\n	<li>Competitive rate spreads / commissions.</li>\r\n	<li>No hidden fees.</li>\r\n	<li>Easy to use charts.</li>\r\n	<li>Simple management of the software.</li>\r\n	<li>No slippage.</li>\r\n</ul>\r\nI promised a few weeks back that I would go through why certain brokers have been eliminated from the PREMIUM SERVICE. These are just my experiences, you may enjoy a great relationship with brokers that I no longer want to trade with, and, this can happen. In my “inner circle” of trading buddies, we all have had different experiences and there are certain brokers none of us will go near, but we also have mixed opinions. The “I told you so” conversation does happen from time to time. I believe that your Account Manager is paramount and integral to the overall experience.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKER-SERVICE-COMPARISONS-19072014.png\"><img class=\"aligncenter size-full wp-image-4116\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKER-SERVICE-COMPARISONS-19072014.png\" alt=\"FX BROKER SERVICE COMPARISONS 19072014\" width=\"458\" height=\"491\" /></a>\r\n\r\nFrom the references inside the above spreadsheet: -\r\n\r\n(1) – Excellent Account Manager, his reputation meant everything to him. Obviously, he felt that he could no longer back up his promises with the support from the company.\r\n\r\n(2) – Very attentive Account Manager in the beginning but the relationship suffered when funds were removed from my account without any communication, allegedly because of a regulatory requirement? Subsequently I have had this verified to an extent, but NOT ONE JOT of why no communications were made. My Account Manager left the company two weeks after this incident.\r\n\r\n(3) – Absolutely hopeless, I was passed from one person to another so many times and I cannot remember how many times the chat line was dropped during this process. It was so frustrating and very time consuming; in fact it was a complete waste of time. This is a totally useless facility for this company, and it must frustrate traders with questions.\r\n\r\n(4) – A dreadful experience. Originally, the IT / Corporate Governance department blamed my Internet connection. No one apparently had ever complained of slippage before…..yeah right! I had it on at least three occasions; I pursued my case through my Account Manager to Corporate Governance for a second time, with more specifics about the third big slippage incident. I was refunded in full, but to force this issue meant the relationship was over. In fairness they were very good on closing my account and transferring monies back to my bank.\r\n\r\n(5) – This was incredible. I could not gain access to areas I was told that I could, and basically for brevity, I was advised that internally my account was set up incorrectly, not in line with what I was originally advised…. basically tough s**t. That was it for me, the final straw they had let me down twice….\r\n\r\nSo to answer the heading of this section and re-emphasize the point; yes, it can be a minefield.\r\n\r\nI have broker relationships with FX PRO, SAXO and ALPARI in addition to FXCM and BLACKWELL GLOBAL through the WEEKLY FX DRIVE THRU and the PREMIUM SERVICE. Both of these brokers provide 100% of what I need to be totally confident with on any client introduction I should be involved with. I have special introductory incentives for subscribers to the PREMIUM SERVICE, but, readers of the FREE WEEKLY FX DRIVE THRU can also benefit as well.\r\n\r\nChoosing a broker is NOT easy. It takes time to build a relationship and it also takes time to adjust to the little quirks that each broker has that differentiates them from each other. I often say in trading, waiting for the trade to come to you is a critical part of trading. Patience is a virtue in trading; it is also a key requirement in broker relationships. There are some great people working in brokers right now, if I could move all these people into a brand new start company, it would be awesome. The problem is that I can’t, and therefore you have to accept the rough with the smooth.\r\n\r\nFor me, one aspect of the relationship that makes matters much easier is consistency. As long as you know where you stand and all the contacts in the brokers you use “sing from the same hymn sheet”, then you have the parameters to work within.\r\n\r\nAdd the broker quirks, and then it allows me to trade certain brokers with certain types / styles of trade. This is crucial for me.\r\n\r\nOne very important aspect to consider when choosing a new or additional broker is to make sure your monies are 100% protected. Your money has to be safe and you need to know that the broker is regulated across several jurisdictions. It sounds crazy but you must look at this, do not take things for granted. Usually, at the foot of the broker’s welcome page you will see a list of where they have financial operations based and the appropriate regulated body to which the brokers’ actions are accountable.\r\n\r\nNext week I will conclude this article with part 2: -\r\n\r\nWHY AND HOW DO I TRADE WITH MULTIPLE FX BROKERS?\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>5. TRADER TOPICS:</strong>\r\n\r\nThis section’s content will re-appear after the summer break\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>6. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT160\r\nEUR/USD\r\nShort\r\nEntry: 1.3570\r\nStop Loss: 1.3650\r\nLimit / Target: 1.3210\r\nWeekly Closing Price: 1.3524\r\nPosition: +46 pips\r\n\r\nFT161\r\nEUR/GBP\r\nShort\r\nEntry: 0.7914\r\nStop Loss: 0.7950\r\nLimit / Target: 0.7600\r\nWeekly Closing Price: 0.7914\r\nPosition: level pips\r\n\r\nFT162\r\nUSD/CAD\r\nLong\r\nEntry: 1.0775\r\nStop Loss: 1.0700\r\nLimit / Target: 1.0875\r\nWeekly Closing Price: 1.0732\r\nPosition: -43 pips\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0797\r\nPosition: -28 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8682\r\nPosition: -12 pips\r\n\r\nRT134\r\nGBP/CHF\r\nLong\r\nCost Average: 1.5350\r\nStop Loss: 1.5270\r\nLimit: 1.5480\r\nWeekly Closing Price: 1.5314\r\nPosition: -36 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD\r\nLong (This trade is hedged from -100 pips)\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9587\r\nPosition: -213 pips\r\n\r\nFUN36\r\nEUR/CAD\r\nLong\r\nCost Average: 1.4500\r\nStop Loss: 1.4000\r\nLimit / Target: 1.5500\r\nWeekly Closing Price: 1.4515\r\nPosition: +15 pips\r\n\r\nFUN37\r\nGBP/AUD\r\nLong\r\nCost Average: 1.8200\r\nStop Loss: 1.7500\r\nLimit / Target: 1.9155\r\nWeekly Closing Price: 1.8180\r\nPosition: -20 pips\r\n\r\nFUN38\r\nGBP/CAD\r\nLong\r\nCost Average: 1.8300\r\nStop Loss: 1.7700\r\nLimit / Target: 1.9085\r\nWeekly Closing Price: 1.8332\r\nPosition: +32 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>7. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nI only have one trade on my radar. Given the geopolitical news I am not looking to add positions until I have seen the news over the weekend.\r\n\r\nThe trade in question is a FUNDAMENTAL trade, which is a longer-term trade, which I will hedge if I have to.\r\n\r\nFUN35\r\nEUR/NZD\r\nLong\r\nEntry: 1.5500\r\nStop: 1.5000\r\nLimit: 1.6550\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> A very frustrating pair to trade this past week. We finally broke through 1.3600 and took out 1.3500 on Friday only to peek back above 1.3500 to end the week. The great thing from my perspective is being short this pair is that there is now real bounce, and, it looks like the bear flag formation measured move that I have referred to over the past week is in play 1.3250 or just a shade below. If you are not yet short this pair obviously a move to 1.3575 offers great resistance and would be seen as a great area that was previous support to short from. The range is 1.3490 to 1.3575.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Not much of a move in the week based upon closing levels. Looking just on closing price one would have to say that consolidation is in play. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7035 to 1.7150.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. Virtually unchanged in the past week. The big news that I see with this pair is the cross-rate effect that has elevated the AUD/NZD in particular about 180 pips in the week. This cross-rate move has kept the AUD/USD well bid. It is however in a tight trading range of 0.9320 to 0.9430.<strong> </strong>\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. Finally…. finally…. finally we have seen a downside move but on Friday it held up quite well. The RBNZ interest rate decision this coming Wednesday will really place governor Graeme Wheeler on the hot spot. Economic data of late has been weaker and a rate increase that the market was expecting may backfire, on the other hand, a rate cut could do what the RBNZ has wanted all along this is a weaker Kiwi currency. A non-event on Wednesday could send this pair to 0.8500 very quickly. The trading range that I have in my sights for now though is 0.8640 to 0.8750.\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> Only a one pip move in the week. I think that huge trend line support above 1.0650 is keeping the “Loonie” well bid. I am long although out of the money thanks to strong economic data on Friday but I am happy to hold my position moving forward. The range is 1.0700 to 1.0790.\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. I missed my opportunity to keep my previous long trade in play. This is the pair that I will be looking to enter long next week should the EUR/USD fall below 1.3500 once again. For now the range that interests me is 0.8950 to 0.9040.\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>We have tested just above 101.00 this week and personally I once again see this pair sub 100.00 before the JPY weakens across the board. This is just my opinion and it does not mean that I will be correct. This year I have got all my JPY predictions wrong…so maybe I am in line for a correct one this time? The range that I am paying attention to is 101.00 to 101.50.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\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<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nAUD/USD\r\nUSD/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nUSD/CAD\r\nUSD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nNZD/JPY\r\nEUR/CAD\r\nGBP/CAD\r\nEUR/AUD\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Glenn Stevens RBA speaks.\r\n\r\nTUESDAY: USD – Core CPi.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales.\r\nWEDNESDAY: NZD – Cash Rate, RBNZ Rate Statement and Trade Balance.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Business Confidence.\r\n\r\nFRIDAY: EUR – German IFO Business Climate.\r\nFRIDAY: GBP – GDP.\r\n\r\n<strong> </strong>\r\n\r\n<strong>11. FINAL THOUGHTS:</strong>\r\n\r\nComing up this week the big news item that is on my radar is the RBNZ interest rate decision on Wednesday. There are PMi releases in Europe and China but the RBNZ is the pick in my opinion.\r\n\r\nWhilst we have entered the summer doldrums regarding liquidity we have huge geopolitical news hanging over the markets and this creates uncertainty and we all know that the markets do not like uncertainty.\r\n\r\nWe have to be very careful trading as the opportunity for massive volatility to run through the markets is high given the thinner cash flows through the Forex market. As I have written the last two weeks, we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 19th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','FX BROKERS (PART 1) - HOW DO I CHOOSE AN FX BROKER?','','publish','open','closed','','fx-brokers-part-1-choose-fx-broker','','','2014-07-19 10:33:52','2014-07-19 15:33:52','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4117',0,'member_posts','',0),