<strong><span style="font-size: 14pt;">THE DAILY FX POST</span>
<span style="font-size: 14pt;"> from</span>
<span style="font-size: 14pt;"> THE PREMIUM SERVICE</span>

</strong>

<strong>DATE: Thursday 30th October 2014
REF: #118</strong>

&nbsp;
<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
Being honest, I did not expect the hawkish statement and the market reaction that was provided following the FOMC statement yesterday. My immediate desire to try and locate a copy of the transcript or listen to Liesman on CNBC was taken over by the strength of the USD ripping through the markets.

It was best visualized in the USD/SEK, which was almost 600 pips negative just prior to the release. Within 20-25 minutes I was able although by error playing with other trades at the time close that trade with a positive +100 pips. In fact, so confident with the USD strength looking at the 10 minute chart on the DXY, I closed all my positive hedge trades (except the USD/CAD) and was able to bank more $$$ on the back of the statement.

The FED laid it out in simple terms: -
<ul>
	<li>End of QE.</li>
	<li>Unemployment is below 6% and now they recognize the stability/improvement in the numbers.</li>
	<li>Interest rates will rise in early 2015 and NOT 2016.</li>
</ul>
Moving ahead with trading, it may make it easy for us trading with the inter-market relationships. I have a feeling that we may now see a period of good data = strong USD and poor data = weak USD. Time will tell if this is the case.

In addition to the FED we had the RBNZ Monetary Policy Statement. In my opinion, after reading the statement, it means that there will be no interest rate rises for the medium / longer-term. Expectations of rate hikes have been curtailed.

Therefore I am expecting a little consolidation and then a re-test of the 52-week lows with the NZD/USD at 0.7707.

Moving on, European Markets are all RED this morning and U.S. futures are all RED at the moment. The Holy Trinity (OIL, GOLD &amp; COPPER) are also all negative

U.S. advance GDP will be a biggie in about an hour. The markets are expecting 3%, if this is beaten it will interesting to see the USD reaction.

Over the next few days and certainly after the weekend, we must watch very closely the moves in equities as I feel that they will come under quite a bit of pressure as the reality of no more QE and interest rate increases hits traders and fund managers.

<strong> </strong>
<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>
</ol>
USD: - Advance GDP and Unemployment Claims.
AUD: - PPi.

<strong> </strong><strong> </strong>
<ol start="3">
	<li><span style="font-size: 12pt;"><strong> EXISTING LIVE TRADES:</strong></span></li>
</ol>
I will try and get some charts out later today. I have a meeting with my bank later this morning and therefore, I will be away from my desk for about 3 to 4 hours. I am not looking to add any more new trades to the existing LIVE ones, but I may have a couple of LIMIT ORDERS to add.<strong> </strong>

<strong>RADAR TRADES:</strong>

There are no LIVE RADAR TRADES at the present time.

<strong> </strong>

<strong>FLASH TRADES:</strong>

FT190
NZD/USD
Short at 0.7793
Stop at 0.8050
Limit at 0.6580
Price Now: 0.7806
Current Profit / Loss Position: - 13 pips

FT202
USD/CAD
Long at 1.1340
Stop at 1.1170
Limit at 1.1570
Price Now: 1.1185
Current Profit / Loss Position: -155 pips
(This pair is hedged from -70 pips)

FT224
EUR/USD
Short at 1.2645
Stop at 1.720
Limit 1.2450
Price now 1.2587
Current Profit / Loss Position: +58 pips

FT225
GBP/USD
Short at 1.6020
Stop at 1.6080
Limit 1.5750
Price now 7.3192
Current Profit / Loss Position: +19 pips

FT226
AUD/USD
Short at 0.8800
Stop at 0.8850
Limit 0.8000
Price now 0.8791
Current Profit / Loss Position: +9 pips

FT227
USD/CHF
Long at at 0.9535
Stop at 0.9460
Limit 0.9750
Price now 0.9577
Current Profit / Loss Position: +42 pips

FT228
NZD/USD
Short at 0.7787
Stop at 0.7826
Limit 0.7710
Price now 0.7805
Current Profit / Loss Position: -18 pips

<strong> </strong><strong> </strong>

<span style="font-size: 10pt;"><strong>FUNDAMENTAL TRADES:</strong></span>

FUN44
GBP/NZD
Long at 2.0507
Stop at 1.9800
Limit at 2.3200
Price Now: 2.0502
Current Profit / Loss Position: -5 pips

FUN60
EUR/NZD
Long at 1.6140
Stop at 1.5850
Limit at 1.7250
Price Now: 1.6134
Current Profit / Loss Position: -6 pips
<strong> </strong>
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
<span style="font-size: 10pt;"> There are no LIMIT ORDERS with my brokers at this present time.</span>

&nbsp;

Good luck today.

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

<strong>DISCLAIMER:</strong>

FLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.