<h2 style="text-align: center;"><strong>THE DAILY FX POST
from
THE PREMIUM SERVICE</strong></h2>
&nbsp;

<strong>DATE: Monday 1<sup>st</sup> December 2014
REF: #134</strong>

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<h3><strong> OVERVIEW – INITIAL THOUGHTS:</strong></h3>
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We were entertaining yesterday at the Asian open and from the open through the European session we saw quite a bit of volatility.

The GOLD / SWISS referendum looks like it had an effect. We opened with a very strong USD and a precious metals sell-off not forgetting a continued sell-off in Oil.

We have had a bounce, which, I expected and I re-adjusted entry levels on four RADAR TRADES that were posted at the end of last week. Three of the four limit orders triggered overnight.

I have a feeling that this week will be a difficult week to trade. I am not too sure whether we will see a USD pullback or not but I am watching everything as close as possible. Be prepared we could see a squeezy market.

I let 80 pips or so of a NZD/USD short (FT248) slip away overnight, as I did not expect the size of the bounce that took place.

There are a huge amount of data releases this week, so I will not be letting trades get too far away should they turn too negative. I think that the key level to watch could be the EUR/USD at 1.2500. Having said that I am expecting a lot of jawboning this week from the RBA and RBNZ. Plus, the “kick the can” expert Mario Draghi is on stage on Thursday. So while the EUR/USD level at 1.2500 is a nice level to look at, there is so much news this week it should not be the focus in isolation. But I feel we should be aware that we could see reversals this week.

The Holy Trinity (GOLD, OIL &amp; COPPER) are all lower, plus European equities are lower and U.S. equities are lower as well prior to the open

As I wrote in the “DRIVE THRU” blog over the weekend, taking small trade sizes to establish core positions is the sensible lower risk approach at the moment. Do not be surprised to see me cover trades with 25-50 pip profits this week, I am not looking for swing trades. I am pinching myself that I did not take 80 pips last night with the NZD/USD short.

I will be on twitter later.

Tonight the RBA is centre stage and the AUD will on my RADAR for trades with the cross-rates EUR/AUD and GBP/AUD, plus the AUD/NZD. I gave my thoughts on these pairs over the weekend.

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<h3><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></h3>
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USD: - ISM Manufacturing PMi.

AUD: - Building Approvals &amp; RBA Statement and Cash Rate.

GBP: - Construction PMI.

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<h3><strong> EXISTING LIVE TRADES:</strong></h3>
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<strong>RADAR TRADES:</strong>

RT225
GBP/USD
Short at 1.5640
Stop at 1.5740
Limit at 1.5450
Price now 1.1.5702
Current Profit / Loss Position -62

RT226
AUD/USD
Short at 0.8490
Stop at 0.8550
Limit at 0.8000
Price now 0.8481
Current Profit / Loss Position +9 pips

RT227
NZD/USD
Short at 0.7840
Stop at 0.7920
Limit at 0.7250
Price now 0.7850
Current Profit / Loss Position -10

<strong>FLASH TRADES:</strong><strong> </strong>

FT230
EUR/CHF
Long at 1.2040
Stop at 1.1920
Limit at 1.2500
Price now 1.2027
Current Profit / Loss Position -13 pips

FT245
EUR/USD
Short at 1.2448
Stop at 1.2550
Limit at 1.1860
Price now 1.2460
Current Profit / Loss Position -12 pips

FT248
NZD/USD
Short at 0.7871
Stop at 0.7940
Limit at 0.7000
Price now 0.7850
Current Profit / Loss Position +21 pips

<strong>FUNDAMENTAL TRADES:</strong><strong> </strong>

There are no LIVE FUNDAMENTAL trades at this time

<strong> </strong><strong> </strong>
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<h3><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></h3>
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RT224
EUR/USD
SHORT
Entry at 1.2490
Stop at 1.2570
Limit at 1.1860

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

<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.