<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>

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<strong>DATE: Tuesday 30th September 2014
REF: #97</strong>

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<ol>
	<li><strong> OVERVIEW – INITIAL THOUGHTS:</strong></li>
</ol>
The big news that is affecting Forex is that the CPi data from the EUROZONE is even worse than worse and this is placing huge pressure on the single currency. It looks like Draghi is going to have to announce on Thursday and if he delays once again God only knows what will happen to the EUR.

The key if you watch the ECB Press Conference via video link, check to see does Draghi enter the room with a Coke can in his hand wearing Nike training shoes…. you will then know if he is to act or not.

I covered the NZD/JPY last night and I should have cancelled the NZD/CHF limit order. I did not do the latter. My reasons are geopolitical news. The Hong Kong situation is bigger than I think the market believes, the uncertainty is a huge overhang and I usually do not like having positions in JPY and CHF until I understand what the “fickle” market thinks. I had a nice email exchange with Joan last night about this.

As I said to Joan last night, I have a substantial number of people following me via various social networks and blogs etc. I am now maybe a little over-cautious on matters but that is not a bad thing in the Forex market as trading has changed dramatically in the past 7 years since I became involved.

Looking forward, my goals are to be flat (NO LIVE TRADES) by Friday (NFP) and no EUR related trades by Thursday (ECB). The only exception could be the AUD/NZD trade (RT143).

Overnight in other news, ANZ Business Confidence and GBP Current Data both weaker and will burden the respective currencies today in the North American session.

The USD is breaking out even higher and I do think that 92.00 is the level where we are heading.<strong> </strong>

<strong> </strong>
<ol start="2">
	<li><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></li>
</ol>
CAD: - GDP
USD: - Consumer Confidence.

CNY: - Manufacturing PMi.
AUD: - Retail Sales.

<strong> </strong>
<ol start="3">
	<li><strong> EXISTING LIVE TRADES:</strong></li>
</ol>
<strong>RADAR TRADES:</strong>

RT143
AUD/NZD
Long
Long at 1.1200
Stop at 1.0800
Limit at 1.1550
Price Now: 1.1227
Current Profit / Loss Position: +27 pips.

RT174
AUD/USD
Short
Short at 0.8735
Stop at 0.8780
Limit: 0.8000
Price Now: 0.8709
Current Profit / Loss Position: +26 pips.

RT175
NZD/USD
Short at 0.7780
Stop at 0.7860
Limit 0.6580
Price Now: 0.7754
Current Profit / Loss Position: +26 pips

RT177
NZD/CHF
Short at 0.7399
Stop At 0.7495
Limit at 0.7000
Price Now: 0.7440
Current Profit / Loss Position: -42 pips

RT178
NZD/CAD
Short at 0.8690
Stop at 0.9785
Limit 0.8000
Price Now: 0.8673
Current Profit / Loss Position: +17 pips

<strong> </strong>

<strong>FLASH TRADES:</strong>

None LIVE at this time.

<strong>
FUNDAMENTAL TRADES:</strong>

None LIVE at this time.

<strong> </strong><strong> </strong>
<ol start="4">
	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>
</ol>
RT173
USD/CAD
Long at 1.1130
Stop at 1.1080
Limit 1.1540

<strong> </strong>
<ol start="5">
	<li><strong> FINAL THOUGHTS:</strong><strong> </strong></li>
</ol>
It could be a volatility day today in the North American session. I am starting to wind down my trades ahead of the big news events on the horizon.

You should also bear in mind that today is a month and quarter end so inflows and outflows will be increased as the large fund managers do their accountancy dressing.

Take care and good luck.

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

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