<h3 style="text-align: center;"><strong>THE PREMIUM SERVICE</strong></h3>
<h3 style="text-align: center;"><strong>The Home of Single-Lot Trading
www.weeklyfxdrivethru.com</strong></h3>
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<strong>DATE: 07.06.2015
REFERENCE: #156
</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>

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<ol>
	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>
</ol>
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<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>

<u>1.1 - LOOKING BACKWARDS:</u>

1.1.1 - OVERVIEW:

It was another week from my perspective of waiting for news to happen. I only took a few trades, majority of them nice ones with $$$ and some nice pip gains.

Last week, I wrote about how my “Ducks” were starting to line up and that I was ready to place some longer-term trades through the summer based on my FUNDAMENTAL views. Those trades are still hanging about. The markets were so choppy, I decided against even placing them with brokers so as not to get caught on a squeeze in the wrong direction.

Up until last Friday, the USD was taking a bit of a beating to say the least and I was happy to sit back and watch thinking when I enter my trades I will have much better entry levels than I had originally thought possible. Then of course, NFP happened, blow out numbers… where did those numbers come from?

So, as it stands today, I am in cash, no trades either LIVE or LIMIT orders placed with brokers. It feels a little weird having no skin in the game but I view this as a blank canvas from which to work from next week.

1.1.2 – GREECE:

This must be embarrassing for most on-lookers to watch, who know nothing of the cultural diversities in play with this negotiation.

The best way that I can describe this is as a Mexican standoff with stakes in play that are of the highest values imaginable for both sides.

The current GREECE stalemate is the subject of “WHAT’S ON MY MIND -
THE FUNDAMENTAL TRADERS OVERVIEW” in section 2 of this week’s blog.

1.1.3 – RBA:

Last week the RBA removed the supportive dovish notes from their statement. Quite an interesting move given the fact that the economic data such as Retail Sales and the Trade Balance released less than 48 hours after the RBA rate statement were poor. I can only assume that the housing bubble in and around Sydney is weighing in very, very heavy on the RBA creating this move in monetary policy.

I am cynical of the RBA move, and this does have an effect on my FUNDAMENTAL positioning moving forward, however, for now, I cannot see the RBA hiking rates.

1.1.4 – ECB:

I have to say a rather uneventful press conference; sure we had the usual choppy price action, but as far as I was concerned it was a non-event.

Mario Draghi was asked questions about GREECE to which he simply gave the human resources / personnel department response, down the middle from a textbook.

He pushed back on QE timings of the program. Quite right too, the QE program isn’t even 6 months old yet!

In addition with economic data from the EUROZONE starting to show improvement in places and the start of a bottoming out process, it was a relatively straightforward press conference.

1.1.5 – ADP and NON-FARM PAYROLLS:

Basically ADP numbers were in line, only a very slight beat, however, NFP beat by almost 60k. Blowout numbers and the USD went crazy.

As you can therefore imagine the calls for a a rate hike by the FED for later this month were re-kindled although the smart money is now allegedly on October 2015. Who knows when it will happen but be certain it will happen this year. I was thinking just prior to the Q4, but do not rule anything out. We may still see a move before the summer.

Remember, it does NOT have to be announced at the FED meeting it can be done whenever they desire.

1.1.6 – CAD EMPLOYMENT DATA:

Do NOT get the champagne corks blasting out of bottles. The CAD numbers will be revised. Last year they gave out numbers that were “Mickey Mouse” all year. I would not believe any numbers that come out of Ottawa - they should be issued with a caveat of a “GOVERNMENT HEALTH WARNING” similar to tobacco.

The predictions of 10.2k jobs created were crushed with a 58.9k posting, impressive beyond all considerations, but is it accurate?

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<u>1.2 - LOOKING FORWARDS:</u>

<u>1.2.1 - MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>

<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href="http://www.forexfactory.com">www.forexfactory.com</a><u> and </u><a href="http://www.tradingeconomics.com">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>
SUNDAY: N/A.

MONDAY: AUD – NAB Business Confidence.
MONDAY CNY – CPi.

TUESDAY: AUD – Glenn Stevens (RBA) words of wisdom.

WEDNESDAY: GBP – Mark Carney (BOE) words of wisdom.
WEDNESDAY: NZD – RBNZ Interest Rate and Statement.
WEDNESDAY: NZD – Graeme Wheeler (RBNZ) words of wisdom.
WEDNESDAY: AUD – Employment Data.

THURSDAY: USD – Retail and Core Retail Sales.
THURSDAY: CAD – Stephen Poloz (BOC) words of wisdom.

FRIDAY: N/A.

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1.2.2 – MY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:

We have 4 central bank governors making contributions this week to the economic data news. As I have said before on several occasions these roles have taken on a “Rock Star” mentality. Whether you believe the words spoken or not is your call. Frankly at times I view some of the comments as the speaker purely and simply just selling their own book, similar to that of Goldman Sachs or Citi. Some of these governors just jawbone, and whilst, initially, the markets believe the B.S. soon after the markets realize the statement for what it was.

In essence questioners at these meetings would, in my opinion, be better used asking a straight up question along the lines of… “was that cow, camel or bull s**t?” after some of statements made. It is a problem, we are so used to being fed crap we just accept it now as part of the process.

The highlight of the coming week is obviously the RBNZ meeting. I am just waiting to read what Graeme Wheeler (Teflon) has up his sleeve this month. He is a slippery customer at the best of times. He says what he wants and his actions create the exact opposite. Recently the NZD currency has been sold heavily as the markets are now coming to terms with the fact that the RBNZ are no longer on a policy of rate increases. They claim neutrality… lets see what “Teflon” says on Wednesday.

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<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>

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I felt as though I was on gardening leave most of last week. I traded very little, in the main what I did trade was good so I mustn’t complain, and, as $$$ were banked one should never complain as a trader.

We do still have the two news items that just keep rolling on hanging over the markets; GREECE and the FED rate hike. I am still expecting huge volatility around both pieces of news.

With GREECE I am expecting a chop fest, which I will stay 100% clear from. With regards to the FED rate hike, I am expecting a directional trade, which I aim to be in for a few sessions and then core out my positions.

Both pieces of news will generate trades, without question. One will be instant and 100% immediate for me to join, and the other will more than likely be after the dust has settled.

I have my plan and I will trade my plan.

As a trader of 8 years that is about the best you can hope for. If you are with PREMIUM SERVICE you will have the plan that I will be using.

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<ol start="2">
	<li><strong><u> WHAT’S ON MY MIND: -
THE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>
</ol>
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<h3 style="text-align: center;"><strong>GREECE GOING DOWN TO THE WIRE....</strong></h3>
Quelle surprise!

Hold the front page.

Lock up your daughters…

Well I never, GREECE has delayed paying the IMF. It has invoked a double or nothing clause in their agreement whereby it can elect to lump two repayments together. We should all try this with our mortgage providers. Yeah right, can you imagine the swift two fingers raised towards you when you complete the sentence requesting such an option?

So will GREECE pay?

In my opinion, as stated before, I think that there is more of a chance that hell freezes over before GREECE repays the troika.

Will there be a can–kicking EUROZONE / EUROGROUP special at the 11th hour and 50 minutes and 59 seconds…possibly. Will this help GREECE? ... not at all in my opinion.

As ‘Bulldog Bristow” says on Frasier… this is complete B.S.

GREECE needs debt relief. The EUROGROUP and Greek P.M. Tsipras are playing high stakes poker at the moment.

I admire both parties for standing firm, but alas, I fear that the EUROZONE has more to lose through the contagion effect of a GREECE default or GREXIT.

Just a Mario Draghi had probably conducted his easiest ECB press conference about 10 days ago, mainly due to the fact that policies were starting to have an effect, this could all be put back should a GREXIT occur and a contagion effect kick in.

Basically, now it all rests with a month end payment due to the IMF by the Greek government. Technically, it's a default if GREECE misses to make the payment but its not like alarm bells will be sounding off throughout Athens and Frankfurt. I strongly suspect the IMF will grant an extension to allow GREECE more time to fulfill its obligations. Whether the markets will be this accommodating will be fascinating to watch… I strongly doubt it.

I am expecting presenters on CBNC, who will all be in a state of frenzy, to have kittens on the news of a Greek default.

I expect Larry Kudlow will be wheeled in to give us his slightly right of the “Attila the Hun” view of matters EUROZONE and GREECE. As for, God love him, the clumsy, does he really know where he is, Joe Kernan, give him a map of Europe and lets see if he can find GREECE or GERMANY and point out Athens and Frankfurt to the viewers. I still have not forgotten his stupid comments on IRELAND and the single currency, so embarrassing, it showed him to be way past his sell by date, why is he still there?

A few subscribers have asked me do I think that a resolution could happen before the end of the month? In all honesty who knows. I suppose that anything is possible but this is the EUROZONE that we are talking about, they are the originators of lastminute.com or I prefer lastsecond.com.

From a Forex Trading perspective, I am expecting a range bound feel to trading the EUR/USD for the next week or so. When / if / should any GREECE news be released I expect a lot of volatility.

My plan is to sell the EUR/USD into strength if a can-kicking deal is agreed. If it is a default situation, I will, sell the EUR/USD on pullbacks. Half the battle is having your plan. This I have; I just need the news.

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<strong> </strong>
<ol start="3">
	<li><strong><u> THE PREMIUM SERVICE:

</u></strong></li>
</ol>
<strong><u>SUMMARY OF PERFORMANCE:</u></strong>

<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>

For new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

At the top of my welcome page there are three drop down menus: -

PREMIUM SERVICE PROMOTIONS (if available)
SIGN-UP
DISCLAIMER

Further details and how to join are all contained there. You will need a PayPal account to subscribe.

Below I provide an overview of the GOLD and SILVER subscription options and pricing.

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<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:
</u>
<ul>
	<li>3 options on subscription periods.</li>
	<li>100% access to the PREMIUM SERVICE area of my website <a href="http://www.weeklyfxdrivethru.com">weeklyfxdrivethru.com</a></li>
	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>
	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>
	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href="http://www.weeklyfxdrivethru.com">weeklyfxdrivethru.com</a></li>
	<li>My thoughts and comments on market conditions via twitter and/or email.</li>
</ul>
GOLD MEMBER SUBSCRIPTION OPTION PRICING:
(Please note that PayPal works in months NOT weeks)

10 weeks / 3 months:               USD $295.00
20 weeks / 6 months:               USD $495.00
40 weeks / 12 months:             USD $795.00

<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:
</u>
<ul>
	<li>Simple 4 weekly (monthly) membership pricing.</li>
	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>
	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>
	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>
	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href="http://www.weeklyfxdrivethru.com">weeklyfxdrivethru.com</a></li>
</ul>
SILVER MEMBER SUBSCRIPTION OPTION PRICING:
(Please note that PayPal works in months NOT weeks)

4 weeks / 1 month:                    USD $100.00

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<u>3.2 – PERFORMANCE REVIEWS:</u>

<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):
</u>
<p style="text-align: center;">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>
<p style="text-align: center;"><u>MICRO LOT TRADER</u> - 390 trades cost to trade = $39.00
<strong>PROFIT</strong> from 390 trades = <strong><u>$561.00</u></strong></p>
<p style="text-align: center;"><u>MINI LOT TRADER</u> - 390 trades cost to trade = $390.00
<strong>PROFIT</strong> from 390 trades = <strong><u>$5,610.00</u></strong></p>
<p style="text-align: center;"><u>STANDARD LOT TRADER</u> - 390 trades cost to trade = $3,900.00
<strong>PROFIT</strong> from 390 trades = <strong><u>$56,100.00</u></strong></p>
<p style="text-align: center;">If the above return from Forex Trading interests you go to</p>
<p style="text-align: center;"><a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.</p>
<p style="text-align: center;">The performance above is based off single-lot trade sizes.</p>
<p style="text-align: center;">THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.</p>
<p style="text-align: center;">A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>
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<u>3.2.2 – PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:</u>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PREM-SERV-PROFITS-1-07062015.png"><img class="aligncenter size-full wp-image-6094" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PREM-SERV-PROFITS-1-07062015.png" alt="PREM SERV PROFITS 1 07062015" width="456" height="440" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/REM-SERV-PROFITS2-07062015.png"><img class="aligncenter size-full wp-image-6095" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/REM-SERV-PROFITS2-07062015.png" alt="REM SERV PROFITS2 07062015" width="459" height="433" /></a>

&nbsp;
<ol start="4">
	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>
</ol>
(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)

<u>4.1 - EDUCATION:
</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)

<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</u>

<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>

<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>

<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>

<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>

<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:

</u></strong>

&nbsp;
<ol start="5">
	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>
</ol>
<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>

If you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -

Go to my website: - <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

On the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.

I do NOT sell your email data to anyone…do not worry...one less thing to worry about!

If you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

&nbsp;

<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>

This is a week of central bank governors strutting their stuff over the newswires. In addition we have the RBNZ interest rate statement followed by Graeme Wheeler’s words of wisdom. Who knows what little gems will be tossed our way this week. There will no doubt be the usual ambiguity in what he says. It would not be the RBNZ statement if we had clarity. Personally, I find these annoying to follow. One thing is stated in the statement and then the opposite is then stated in the press conference. I will be trying to BBQ around the time of Wheeler’s speech so I do not get annoyed!!

I expect very little this week with regards to the EUROZONE as a major GREECE announcement is being delayed by about two weeks and this has screwed up the markets.
<p style="text-align: center;"><strong>Consistency = longevity in trading and that is a critical goal.
IT IS THE KEY MEASUREMENT</strong></p>
Before you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.

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Take care.

Scott Pickering
The Pip Accumulator
Sunday June 7th 2015

EMAIL / FOLLOW ME AT:
drivethru@weeklyfxdrivethru.com
Twitter: @pipaccumulator
Google+/scottpickering
Tumblr: thepipaccumulator

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<u>VIEWS AND COMMENTS IN THIS BLOG:</u>

All the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.

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<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>

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.