<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: Friday 31st October 2014
REF: #119</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
Nobody was expecting the BOJ action. I think that I am pretty safe to say that their action took the market completely by surprise. QE expanded by 80 trillion yen per month plus other initiatives. At least you can say that they have nailed their colours to the mast.

Next week we have Draghi….. If the ECB does anything substantial I will be gob smacked.

Gold is off 2% and Oil almost 1% lower with Copper at plus 1%. U.S. equities are following the European bourses, with U.S futures all well up.

I think that today should be a rally in equities day thanks to the BOJ. I will be stunned if it is anything less.

I am remaining sidelined until next week.

If you are going to trade today be careful, it's a Friday and in my opinion it’s all about the JPY and how it behaves. My contrarian view is that do NOT be surprised if see massive USD strength across all USD majors at the moment the commodity currencies are exempt. If they join in with USD strength it will be a day to remember.

If I were trading today it is selling into strength and buying the dips day.

I would be looking at the NZD to sell at 0.7910 and the AUD around 0.8850. The EUR/USD and GBP/USD both look very range bound. Both have great support levels at 1.2550 and 1.5950 and the resistances are at 1.2650 and 1.6050.

<strong> </strong>Be careful today could be wild because it appears set up to only be one way.
<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>
CAD: - GDP.<strong> </strong>

<strong> </strong><strong> </strong>
<ol start="3">
	<li><span style="font-size: 12pt;"><strong> EXISTING LIVE TRADES:</strong></span></li>
</ol>
<strong>RADAR TRADES:</strong>

There are no LIVE RADAR TRADES at the present time.<strong> </strong>

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<strong>FLASH TRADES:</strong>

FT202
USD/CAD
Long at 1.1340
Stop at 1.1170
Limit at 1.1570
Price Now: 1.1208
Current Profit / Loss Position: -132 pips
(This pair is hedged from -70 pips)

<strong> </strong>

<strong>FUNDAMENTAL TRADES:</strong>

There are no LIVE FUNDAMENTAL TRADES at the present time.

<strong> </strong><strong> </strong>
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
There are no LIMIT ORDERS with my brokers at this present time. The blog this weekend will have several trade ideas.

&nbsp;

Good luck today but take care it is Friday and I have a funny feeling.

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.