(8992,1,'2017-01-21 15:09:13','2017-01-21 20:09:13','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nAlmost through the first trading month of the year and I feel progress so far is “one step forwards… two steps back”. As things stand right now, I think that the month will be marginally up or marginally down measured by both pips and cash. In no way is it anything like a blowout month… I know that there is still a week left, let’s see if have a hallelujah moment or two.\r\n\r\nSo, last week.\r\n\r\nWe had a Theresa May moment, a Draghi Press Conference and the fashion show in Washington aka THE DONALD comes to town for his signing in ceremony.\r\n\r\nDraghi was a bore; and, frankly he had to present that way. Still lots to do, still dovish, need governmental support, the ECB cannot do it alone, headwinds getting stronger, fragile recovery, signs are good but much more to be done. We did NOT discuss tapering…. yeah right!! It was enough for the markets, and the single currency weakened a little across the board a perfect delivery by Draghi and the ECB.\r\n\r\nTheresa May, came out all guns blazing. We are leaving the EUROPEAN UNION but we are not leaving EUROPE. Not quite so sure the Brussels bureaucrats would view it quite the same. I have no doubt they were sat back with a good bottle red digesting all of May’s comments and poking fun.\r\n\r\nTheresa May placed a very positive spin on the BREXIT. “Play ball and all will be good for both sides”, however, she cherry picked all the goodies that she knows the EU will never agree to this because it would cause a CONTAGION. Despite all the previous commentary she tried once again to pre-negotiate.\r\n\r\nLet’s get this 100% clear and unambiguous; until article 50 is triggered, the UK is in the EU. You cannot negotiate an exit until you are in the exit process. This is basic stuff.\r\n\r\nI tweeted a bit about this last week. Hard BREXIT soft BREXIT? Come on its an exit and it will be difficult as both sides have lines in the sand that they simply cannot cross. The cable rallied on a cherry-picking speech. It was a great speech, very well written and very well delivered but the quality of the content in my opinion was a little “Mickey Mouse” and more of a dream than a belief that it could be possible. The markets as usual bought it, but the short squeeze rally was in my opinion overdone… “bigly”!\r\n\r\nFinally, the DONALD’S inauguration; I am covering THE DONALD in section 5 “SCOTT’S SOAPBOX”, so I write it all there.\r\n\r\nMoving on… “LIVE Broadcasts”\r\n\r\nI did not broadcast PERISCOPE #2 last Monday. The vehicle (PERISCOPE) is just not what I needed to meet the objectives that I have moving forward.\r\n\r\nThis coming Monday 23<sup>rd</sup> January at 5:30PM EST, I am launching the “WEEKLY FX DRIVE THRU – LIVE” via a “live in the market” webinar with my partners “demio”.\r\n\r\nThis arrangement allows me to share screens, office documents and LIVE charting screens. Hopefully after a few fumbles as I gain competencies it will be a seamless affair for all parties. All I ask is for you to be patient with me.\r\n\r\nWhilst this format gives me 100% what I want, there are a couple of issues, at the moment, that you as potential viewers need to be made aware of: -\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"https://my.demio.com/ref/4ZHMGqgfLACTvJXm\">https://my.demio.com/ref/4ZHMGqgfLACTvJXm</a>\r\n\r\nNot that I want to keep placing links in front of readers, but as this blog ends up in the strangest of places when it is redistributed on the web, I do have another one to add. I know via feedback that non-Forex Traders read it, not sure why, my humour is poor, my grammar weak, my swearing predictable and overall it does not get great Google feedback as they say it’s hard to read.\r\n\r\nFeck me I’m from Liverpool, we do not know big words. When I was a teenager growing up, and my Dad was a Policeman (Cop) we lived in a great area.  However, in general conversation, anything over two syllables and you were deemed a snob in danger of getting your head kicked in by a local gang! What I am saying here is I am no Fraser Crane I use small words.\r\n\r\nBack to the point…\r\n\r\nThe blog ends up in on-line newspapers and the like, and non-Forex traders read it and I have had a few communications asking me what is FX all about and how do I fit in? (After Christmas just gone, I don’t fit in very easily at all following massive over-indulgence).\r\n\r\nThe link below, to which you need to register tells you all about the PREMIUM SERVICE and how you can be a part of it.\r\n\r\nIt is titled “How to add an additional income stream with the PREMIUM SERVICE”. It is FREE to watch and takes 40 minutes. If you do not yet trade Forex, it could be just what you want. If you currently trade Forex, it could also be just what you want.\r\n\r\nRemember, it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017.png\"><img class=\"aligncenter size-large wp-image-8959\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017-1024x966.png\" alt=\"\" width=\"1024\" height=\"966\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nPhew!\r\n\r\nI completely got the BOC wrong last week. The rate statement OK, but I did not foresee Stephen Poloz announcing that rate cuts were back as options moving forwards. Let’s hope I am better this week.\r\n\r\nOn the docket this week in no particular order: -\r\n\r\nCPi data from Australia and New Zealand and GDP data from the UK and US. Also, Draghi speaks on Sunday night just after the open and that awfully nice chap from the RBNZ Graeme Wheeler chats to probably a bewildered audience on Wednesday…if the audience is not bewildered at the beginning there is a better than 50-50 chance by the end!\r\n\r\nThe big one should be the Supreme court ruling over the UK BREXIT. IF the House of Commons must vote on the BREXIT to ratify the referendum vote by the people, this will have enormous constitutional issues. Never mind the democratic issues that this will throw up. It could be a tasty piece of news. It’s one thing allowing Parliament to debate the BREXIT but the people in a democracy have decided and surely this (excuse the pun) “TRUMPS” parliament.\r\n\r\nI am no constitutional expert, not by any stretch, but if the people elect parliamentarians by voting for whom they choose, the people have the vote that should decide in a referendum. Let’s see.\r\n\r\nI see this week as a week where we could be and probably will be pushed up and down on the back of the number of executive orders placed by THE DONALD in his first few days of his presidency, plus, how many tweets the US Commander-in–chief issues and if he’s started any new wars, currency, trade or military!\r\n\r\nExpect the chop fest.\r\n\r\nAs Monty Python once said “No-one expects the Spanish Inquisition” … in 2017 it will be “No-one expects THE DONALD”.\r\n\r\nGet ready for it.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017.png\"><img class=\"aligncenter size-large wp-image-8960\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017-1024x797.png\" alt=\"\" width=\"1024\" height=\"797\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8967\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8968\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8966\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8969\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8970\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8971\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8972\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n<p style=\"text-align: center;\"><strong>TRUMP, PROZAC, OXYCONTIN and THE USD</strong></p>\r\nThere always seems to be something similar to a theatrical overtone to anything that is TRUMP associated in my opinion. I cannot put my finger on exactly what, but it’s almost as if one is expecting some TV style stunt to happen in the middle of a speech or something like that.\r\n\r\nI am not sure whether it’s an overriding feeling of dis-belief that he actually pulled it off, beat the odds, beat a well-oiled machine, claimed victory with his whole party against him, in fact, he alone, with just the help of his family and his running partner, took on the might of the Presidency and the Billions of dollars behind a Clinton campaign and won.\r\n\r\nThe Republican party that hid under rocks during the campaign are now only too happy to crawl out from under that rock and feast on the spoils of victory to which their added value was zero, in fact in some cases minus.\r\n\r\nThis is one main reason why I have a low opinion of politicians. They are only fair weather friends. I realize that there are some good ones, but in most countries, you can count them on one hand. I now have first-hand experience of 5 countries.\r\n\r\nMoving on…\r\n\r\nThanks be to God, that neither Piers Morgan or Omarosa parachuted in on the parade on Pennsylvania Avenue, that would have really put my, “it’s about to happen”, reality TV, TV stunt thoughts front and centre.\r\n\r\nDefinitely moving on now….\r\n\r\nThe fashion show in DC went off without a snag just 30 minutes late…I must say that the Brits would never stand for the delay, being the masters of pomp and ceremony everything in the UK is rehearsed and timed repeatedly down to almost the tenth of a second for accuracy.\r\n\r\nHowever, one must say that despite what we may think of THE DONALD the fashion police in DC will take on a new role for at least the next four years commenting on Melania, Ivanka and wives of Don Jnr and Eric. In some ways, it could be a pleasant distraction from the twitter account!\r\n\r\nThe speech in my opinion was just like one from the stump. He had to do that, I cannot for the life of me get over the debate about it.  It was 100% expected.\r\n\r\nSo; all over Washington right now, Republican and Democrats alike are in front their GP (Doctor), requesting drugs to get them through the first 100 days of the TRUMP administration.  I never give out any recommendations on stocks or even FX trades, I cannot, but what I can tell you is that we should all watch the shares of PROZAC and OXYCONTIN, I think these could be good buys, whoever manufactures them.\r\n\r\nThe whirlwind is in town and I would expect that blockages to change will be named and shamed publicly like never before to alert the people who voted them in that they do not have the future of a United States in their heart, or words to that effect.\r\n\r\nPoliticians the world over, hide behind the party line as a reason to oppose, this is how career politicians survive. If they can blame someone instead of defending their own actions, it suits them better as they need continual good approval rates to be good in order to survive. Popularity is a like an addictive drug to career politicians. Solving problems and fixing things is not in their chemistry, just not in their DNA. It is better to blame someone for something that is not working than actually try to make it work by doing something about it. That would be courageous, thinking outside the box.\r\n\r\nIf the DONALD is true to his word and I have or see no reason why he won’t stick to his beliefs and run Washington like a business, career politicians must change or get out. Sure, there will be negotiation, but if the DONALD is seen early on to have a couple of wins under his belt, should anyone block change that he sees as another win, God help them.\r\n\r\nThe changes will be radical, possibly very innovative but definitely a new chapter away from the way the dysfunctional way that DC has operated in the past. It should be interesting. Politicians with lots of severe headaches, finding tranquilly and calm hiding under their desks frightened to speak to the gathering press to answer accusations. Hence the OXYCONTIN and PROZAC references.\r\n\r\nFrom my selfish perspective as a Forex trader where does all that leave me?\r\n\r\nThe simple answer is… I wish I knew! Right now, I am as uncertain about what happens and how it all unfolds as much as players who are in the know.\r\n\r\nWithout doubt the USD will be smacked up and smashed down. What do I know for certain at the moment?\r\n<ul>\r\n 	<li>The US is almost at full employment.</li>\r\n 	<li>The economy is looking to be on the up.</li>\r\n 	<li>The DONALD wants to make huge capital expenditure projects.</li>\r\n 	<li>The is good for inflation.</li>\r\n 	<li>This will be good for morale and consumer confidence.</li>\r\n 	<li>This will feed into retail sales.</li>\r\n 	<li>This will feed into housing, new home sales and re-sales.</li>\r\n 	<li>This will feed in home improvements.</li>\r\n 	<li>This will feed into earnings as demands for the right skills increase.</li>\r\n 	<li>Better deposit rates for savers!</li>\r\n</ul>\r\nThe above list and there’s more will be great for the US.\r\n\r\nThere are some negatives though.\r\n<ul>\r\n 	<li>Inflation on goods and services.</li>\r\n 	<li>Gas price increases.</li>\r\n 	<li>Higher Interest Rates.</li>\r\n 	<li>Increased Mortgage Costs.</li>\r\n</ul>\r\nThen of course we have the FED. Uber DOVE, Janet Yellen, who I think operates behind the curve is on a path of Monetary Policy Divergence away from all the other major central banks in the G7. With the positives and negatives that I’ve listed above and there are probably pages more of them, she runs the risk of being left behind.\r\n\r\nAs stated soooooo many times last year, it is so easy to be a DOVE. Keep things as they are, move after the event. Being a HAWK requires conviction, belief and a commanding authority. Does Janet Yellen have this skill set? Can she prepare the Financial Markets in advance for changes in the economy? I am NOT convinced. I think it’s so easy in a low rate environment but in an expansionary environment it requires a whole new skill set, the main one being to stand up to Wall Street.\r\n\r\nAs a Forex trader, the movement in the USD over the next four years is paramount to everything we do. It is at the heart of every trade we if we are trading the AUD/NZD. The way the USD moves and its correlation to commodities that can have a direct bearing on either the AUD or the NZD currency must be borne in mind. In this example the relationship between COPPER and GOLD and the USD directly affects the AUD.\r\n\r\nIf you remember, the plans that the DONALD had before coming to power have not altered, the alleged market experts, (I would say 100% of them) said that if the DONALD was elected the USD would dump and the USD/JPY would hit 95.00-98.00. What happened was the USD rallied like crazy to 103.50 from a low of 96.00 and the USD/JPY from 101.00 hit 118.00 both in less than a month after he was elected. Given the experts were about a much use a chocolate teapot, I think we have a difficult answer to the basic question on the USD.\r\n\r\nSo, keeping things simple here’s my take.\r\n\r\nIf THE DONALD starts getting his agenda passed and gets the funding on infrastructure, personally I think we are off. This alone creates jobs, spending, raw materials the whole nine yards.\r\n\r\nThe affordable care act (Obamacare), does not concern me, personally, I thought Obama was onto something but the drug companies have way too much power and influence in US. Health care will NEVER get fixed in the US, there is too much money at stake, it will be “a fudge” in my opinion. This may be a vote winner but it’s not a continual USD market mover like infrastructure.\r\n\r\nInfrastructure spending is the key to re-start the merry-go-round.\r\n\r\nWhere can the USD (DXY) go?\r\n\r\nThe overriding thought that is stuck in my head when I think about TRUMPECONOMICS, is extremes. Everything associated with THE DONALD is glitter and bright lights. He is Marmite (you either love him or hate him). His policies are in the same mold.\r\n\r\nIn my opinion the range here is dead simple. With success on infrastructure spending and an 8-year program I see 120.00 again on the DXY. Failure and the dysfunctional DC continues I see the USD toying with 80.00 maybe back to financial crisis lows of around 70.00.\r\n\r\nEither move will have spectacular results, vis-à-vis the Forex market. Recession and QE again, possibly negative interest rates on failure to succeed and buoyancy like never seen before on the other side of the equation.\r\n\r\nUSD/JPY at 150.00 or 75.00.\r\n\r\nEUR/USD at 90.00 or 1.4000.\r\n\r\nThese sound crazy numbers. I am 100% sober writing this blog.\r\n\r\nWe are living in extreme times. The new President is sworn in on a mandate of shake ‘em up. Everything he touches will be seen as RISK by the traditional hierarchy. He will face battles to move on policy. He will use whatever he can to force his agenda, twitter and the like, it will be messy, there will be blood and for these reasons I see extremes on the spectrum of success.\r\n\r\nSure, when first looking at my currency ranges they are not only massive but extreme but it’s horses for courses, in my opinion these are realistic ranges to consider in the event of success or failure.\r\n\r\nIn my opinion, to say that THE DONALD has stepped up and placed a noose around his own neck is an understatement. This is why, I firmly believe he will name and shame those who block jobs and US prosperity. He has a big reputation, much of it by self-proclamation, therefore failure is not an option.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #228 FREE NEWSLETTER\r\nDATE: 22nd January 2017.<strong>\r\n\r\n</strong>','TRUMP, PROZAC, OXYCONTIN and THE USD','','publish','open','closed','','trump-prozac-oxycontin-usd','','','2017-01-21 15:09:13','2017-01-21 20:09:13','',0,'http://weeklyfxdrivethru.com/?p=8992',0,'post','',0),(8993,1,'2017-01-21 15:09:13','2017-01-21 20:09:13','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nAlmost through the first trading month of the year and I feel progress so far is “one step forwards… two steps back”. As things stand right now, I think that the month will be marginally up or marginally down measured by both pips and cash. In no way is it anything like a blowout month… I know that there is still a week left, let’s see if have a hallelujah moment or two.\r\n\r\nSo, last week.\r\n\r\nWe had a Theresa May moment, a Draghi Press Conference and the fashion show in Washington aka THE DONALD comes to town for his signing in ceremony.\r\n\r\nDraghi was a bore; and, frankly he had to present that way. Still lots to do, still dovish, need governmental support, the ECB cannot do it alone, headwinds getting stronger, fragile recovery, signs are good but much more to be done. We did NOT discuss tapering…. yeah right!! It was enough for the markets, and the single currency weakened a little across the board a perfect delivery by Draghi and the ECB.\r\n\r\nTheresa May, came out all guns blazing. We are leaving the EUROPEAN UNION but we are not leaving EUROPE. Not quite so sure the Brussels bureaucrats would view it quite the same. I have no doubt they were sat back with a good bottle red digesting all of May’s comments and poking fun.\r\n\r\nTheresa May placed a very positive spin on the BREXIT. “Play ball and all will be good for both sides”, however, she cherry picked all the goodies that she knows the EU will never agree to this because it would cause a CONTAGION. Despite all the previous commentary she tried once again to pre-negotiate.\r\n\r\nLet’s get this 100% clear and unambiguous; until article 50 is triggered, the UK is in the EU. You cannot negotiate an exit until you are in the exit process. This is basic stuff.\r\n\r\nI tweeted a bit about this last week. Hard BREXIT soft BREXIT? Come on its an exit and it will be difficult as both sides have lines in the sand that they simply cannot cross. The cable rallied on a cherry-picking speech. It was a great speech, very well written and very well delivered but the quality of the content in my opinion was a little “Mickey Mouse” and more of a dream than a belief that it could be possible. The markets as usual bought it, but the short squeeze rally was in my opinion overdone… “bigly”!\r\n\r\nFinally, the DONALD’S inauguration; I am covering THE DONALD in section 5 “SCOTT’S SOAPBOX”, so I write it all there.\r\n\r\nMoving on… “LIVE Broadcasts”\r\n\r\nI did not broadcast PERISCOPE #2 last Monday. The vehicle (PERISCOPE) is just not what I needed to meet the objectives that I have moving forward.\r\n\r\nThis coming Monday 23<sup>rd</sup> January at 5:30PM EST, I am launching the “WEEKLY FX DRIVE THRU – LIVE” via a “live in the market” webinar with my partners “demio”.\r\n\r\nThis arrangement allows me to share screens, office documents and LIVE charting screens. Hopefully after a few fumbles as I gain competencies it will be a seamless affair for all parties. All I ask is for you to be patient with me.\r\n\r\nWhilst this format gives me 100% what I want, there are a couple of issues, at the moment, that you as potential viewers need to be made aware of: -\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"https://my.demio.com/ref/4ZHMGqgfLACTvJXm\">https://my.demio.com/ref/4ZHMGqgfLACTvJXm</a>\r\n\r\nNot that I want to keep placing links in front of readers, but as this blog ends up in the strangest of places when it is redistributed on the web, I do have another one to add. I know via feedback that non-Forex Traders read it, not sure why, my humour is poor, my grammar weak, my swearing predictable and overall it does not get great Google feedback as they say it’s hard to read.\r\n\r\nFeck me I’m from Liverpool, we do not know big words. When I was a teenager growing up, and my Dad was a Policeman (Cop) we lived in a great area.  However, in general conversation, anything over two syllables and you were deemed a snob in danger of getting your head kicked in by a local gang! What I am saying here is I am no Fraser Crane I use small words.\r\n\r\nBack to the point…\r\n\r\nThe blog ends up in on-line newspapers and the like, and non-Forex traders read it and I have had a few communications asking me what is FX all about and how do I fit in? (After Christmas just gone, I don’t fit in very easily at all following massive over-indulgence).\r\n\r\nThe link below, to which you need to register tells you all about the PREMIUM SERVICE and how you can be a part of it.\r\n\r\nIt is titled “How to add an additional income stream with the PREMIUM SERVICE”. It is FREE to watch and takes 40 minutes. If you do not yet trade Forex, it could be just what you want. If you currently trade Forex, it could also be just what you want.\r\n\r\nRemember, it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017.png\"><img class=\"aligncenter size-large wp-image-8959\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017-1024x966.png\" alt=\"\" width=\"1024\" height=\"966\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nPhew!\r\n\r\nI completely got the BOC wrong last week. The rate statement OK, but I did not foresee Stephen Poloz announcing that rate cuts were back as options moving forwards. Let’s hope I am better this week.\r\n\r\nOn the docket this week in no particular order: -\r\n\r\nCPi data from Australia and New Zealand and GDP data from the UK and US. Also, Draghi speaks on Sunday night just after the open and that awfully nice chap from the RBNZ Graeme Wheeler chats to probably a bewildered audience on Wednesday…if the audience is not bewildered at the beginning there is a better than 50-50 chance by the end!\r\n\r\nThe big one should be the Supreme court ruling over the UK BREXIT. IF the House of Commons must vote on the BREXIT to ratify the referendum vote by the people, this will have enormous constitutional issues. Never mind the democratic issues that this will throw up. It could be a tasty piece of news. It’s one thing allowing Parliament to debate the BREXIT but the people in a democracy have decided and surely this (excuse the pun) “TRUMPS” parliament.\r\n\r\nI am no constitutional expert, not by any stretch, but if the people elect parliamentarians by voting for whom they choose, the people have the vote that should decide in a referendum. Let’s see.\r\n\r\nI see this week as a week where we could be and probably will be pushed up and down on the back of the number of executive orders placed by THE DONALD in his first few days of his presidency, plus, how many tweets the US Commander-in–chief issues and if he’s started any new wars, currency, trade or military!\r\n\r\nExpect the chop fest.\r\n\r\nAs Monty Python once said “No-one expects the Spanish Inquisition” … in 2017 it will be “No-one expects THE DONALD”.\r\n\r\nGet ready for it.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017.png\"><img class=\"aligncenter size-large wp-image-8960\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017-1024x797.png\" alt=\"\" width=\"1024\" height=\"797\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8967\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8968\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8966\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8969\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8970\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8971\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8972\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n<p style=\"text-align: center;\"><strong>TRUMP, PROZAC, OXYCONTIN and THE USD</strong></p>\r\nThere always seems to be something similar to a theatrical overtone to anything that is TRUMP associated in my opinion. I cannot put my finger on exactly what, but it’s almost as if one is expecting some TV style stunt to happen in the middle of a speech or something like that.\r\n\r\nI am not sure whether it’s an overriding feeling of dis-belief that he actually pulled it off, beat the odds, beat a well-oiled machine, claimed victory with his whole party against him, in fact, he alone, with just the help of his family and his running partner, took on the might of the Presidency and the Billions of dollars behind a Clinton campaign and won.\r\n\r\nThe Republican party that hid under rocks during the campaign are now only too happy to crawl out from under that rock and feast on the spoils of victory to which their added value was zero, in fact in some cases minus.\r\n\r\nThis is one main reason why I have a low opinion of politicians. They are only fair weather friends. I realize that there are some good ones, but in most countries, you can count them on one hand. I now have first-hand experience of 5 countries.\r\n\r\nMoving on…\r\n\r\nThanks be to God, that neither Piers Morgan or Omarosa parachuted in on the parade on Pennsylvania Avenue, that would have really put my, “it’s about to happen”, reality TV, TV stunt thoughts front and centre.\r\n\r\nDefinitely moving on now….\r\n\r\nThe fashion show in DC went off without a snag just 30 minutes late…I must say that the Brits would never stand for the delay, being the masters of pomp and ceremony everything in the UK is rehearsed and timed repeatedly down to almost the tenth of a second for accuracy.\r\n\r\nHowever, one must say that despite what we may think of THE DONALD the fashion police in DC will take on a new role for at least the next four years commenting on Melania, Ivanka and wives of Don Jnr and Eric. In some ways, it could be a pleasant distraction from the twitter account!\r\n\r\nThe speech in my opinion was just like one from the stump. He had to do that, I cannot for the life of me get over the debate about it.  It was 100% expected.\r\n\r\nSo; all over Washington right now, Republican and Democrats alike are in front their GP (Doctor), requesting drugs to get them through the first 100 days of the TRUMP administration.  I never give out any recommendations on stocks or even FX trades, I cannot, but what I can tell you is that we should all watch the shares of PROZAC and OXYCONTIN, I think these could be good buys, whoever manufactures them.\r\n\r\nThe whirlwind is in town and I would expect that blockages to change will be named and shamed publicly like never before to alert the people who voted them in that they do not have the future of a United States in their heart, or words to that effect.\r\n\r\nPoliticians the world over, hide behind the party line as a reason to oppose, this is how career politicians survive. If they can blame someone instead of defending their own actions, it suits them better as they need continual good approval rates to be good in order to survive. Popularity is a like an addictive drug to career politicians. Solving problems and fixing things is not in their chemistry, just not in their DNA. It is better to blame someone for something that is not working than actually try to make it work by doing something about it. That would be courageous, thinking outside the box.\r\n\r\nIf the DONALD is true to his word and I have or see no reason why he won’t stick to his beliefs and run Washington like a business, career politicians must change or get out. Sure, there will be negotiation, but if the DONALD is seen early on to have a couple of wins under his belt, should anyone block change that he sees as another win, God help them.\r\n\r\nThe changes will be radical, possibly very innovative but definitely a new chapter away from the way the dysfunctional way that DC has operated in the past. It should be interesting. Politicians with lots of severe headaches, finding tranquilly and calm hiding under their desks frightened to speak to the gathering press to answer accusations. Hence the OXYCONTIN and PROZAC references.\r\n\r\nFrom my selfish perspective as a Forex trader where does all that leave me?\r\n\r\nThe simple answer is… I wish I knew! Right now, I am as uncertain about what happens and how it all unfolds as much as players who are in the know.\r\n\r\nWithout doubt the USD will be smacked up and smashed down. What do I know for certain at the moment?\r\n<ul>\r\n 	<li>The US is almost at full employment.</li>\r\n 	<li>The economy is looking to be on the up.</li>\r\n 	<li>The DONALD wants to make huge capital expenditure projects.</li>\r\n 	<li>The is good for inflation.</li>\r\n 	<li>This will be good for morale and consumer confidence.</li>\r\n 	<li>This will feed into retail sales.</li>\r\n 	<li>This will feed into housing, new home sales and re-sales.</li>\r\n 	<li>This will feed in home improvements.</li>\r\n 	<li>This will feed into earnings as demands for the right skills increase.</li>\r\n 	<li>Better deposit rates for savers!</li>\r\n</ul>\r\nThe above list and there’s more will be great for the US.\r\n\r\nThere are some negatives though.\r\n<ul>\r\n 	<li>Inflation on goods and services.</li>\r\n 	<li>Gas price increases.</li>\r\n 	<li>Higher Interest Rates.</li>\r\n 	<li>Increased Mortgage Costs.</li>\r\n</ul>\r\nThen of course we have the FED. Uber DOVE, Janet Yellen, who I think operates behind the curve is on a path of Monetary Policy Divergence away from all the other major central banks in the G7. With the positives and negatives that I’ve listed above and there are probably pages more of them, she runs the risk of being left behind.\r\n\r\nAs stated soooooo many times last year, it is so easy to be a DOVE. Keep things as they are, move after the event. Being a HAWK requires conviction, belief and a commanding authority. Does Janet Yellen have this skill set? Can she prepare the Financial Markets in advance for changes in the economy? I am NOT convinced. I think it’s so easy in a low rate environment but in an expansionary environment it requires a whole new skill set, the main one being to stand up to Wall Street.\r\n\r\nAs a Forex trader, the movement in the USD over the next four years is paramount to everything we do. It is at the heart of every trade we if we are trading the AUD/NZD. The way the USD moves and its correlation to commodities that can have a direct bearing on either the AUD or the NZD currency must be borne in mind. In this example the relationship between COPPER and GOLD and the USD directly affects the AUD.\r\n\r\nIf you remember, the plans that the DONALD had before coming to power have not altered, the alleged market experts, (I would say 100% of them) said that if the DONALD was elected the USD would dump and the USD/JPY would hit 95.00-98.00. What happened was the USD rallied like crazy to 103.50 from a low of 96.00 and the USD/JPY from 101.00 hit 118.00 both in less than a month after he was elected. Given the experts were about a much use a chocolate teapot, I think we have a difficult answer to the basic question on the USD.\r\n\r\nSo, keeping things simple here’s my take.\r\n\r\nIf THE DONALD starts getting his agenda passed and gets the funding on infrastructure, personally I think we are off. This alone creates jobs, spending, raw materials the whole nine yards.\r\n\r\nThe affordable care act (Obamacare), does not concern me, personally, I thought Obama was onto something but the drug companies have way too much power and influence in US. Health care will NEVER get fixed in the US, there is too much money at stake, it will be “a fudge” in my opinion. This may be a vote winner but it’s not a continual USD market mover like infrastructure.\r\n\r\nInfrastructure spending is the key to re-start the merry-go-round.\r\n\r\nWhere can the USD (DXY) go?\r\n\r\nThe overriding thought that is stuck in my head when I think about TRUMPECONOMICS, is extremes. Everything associated with THE DONALD is glitter and bright lights. He is Marmite (you either love him or hate him). His policies are in the same mold.\r\n\r\nIn my opinion the range here is dead simple. With success on infrastructure spending and an 8-year program I see 120.00 again on the DXY. Failure and the dysfunctional DC continues I see the USD toying with 80.00 maybe back to financial crisis lows of around 70.00.\r\n\r\nEither move will have spectacular results, vis-à-vis the Forex market. Recession and QE again, possibly negative interest rates on failure to succeed and buoyancy like never seen before on the other side of the equation.\r\n\r\nUSD/JPY at 150.00 or 75.00.\r\n\r\nEUR/USD at 90.00 or 1.4000.\r\n\r\nThese sound crazy numbers. I am 100% sober writing this blog.\r\n\r\nWe are living in extreme times. The new President is sworn in on a mandate of shake ‘em up. Everything he touches will be seen as RISK by the traditional hierarchy. He will face battles to move on policy. He will use whatever he can to force his agenda, twitter and the like, it will be messy, there will be blood and for these reasons I see extremes on the spectrum of success.\r\n\r\nSure, when first looking at my currency ranges they are not only massive but extreme but it’s horses for courses, in my opinion these are realistic ranges to consider in the event of success or failure.\r\n\r\nIn my opinion, to say that THE DONALD has stepped up and placed a noose around his own neck is an understatement. This is why, I firmly believe he will name and shame those who block jobs and US prosperity. He has a big reputation, much of it by self-proclamation, therefore failure is not an option.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #228 FREE NEWSLETTER\r\nDATE: 22nd January 2017.<strong>\r\n\r\n</strong>','TRUMP, PROZAC, OXYCONTIN and THE USD','','inherit','closed','closed','','8992-revision-v1','','','2017-01-21 15:09:13','2017-01-21 20:09:13','',8992,'http://weeklyfxdrivethru.com/8992-revision-v1/',0,'revision','',0),(9662,1,'2017-07-01 08:38:00','2017-07-01 13:38:00','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nIf ever anyone says to you that FX trading is boring and un-eventful just remind them of the shenanigans that went on last week.\r\n\r\nMario Draghi, ECB President and the “sources” my arse saying that the markets mis-judged his comments. What a load of bollocks.\r\n\r\nMark Carney the governor of the BOE doing what he does best “Flip-Flopping and finally, last but not least…\r\n\r\nStephen Poloz governor of the BOC announcing that the BOC are en route to change policy away from supportive to hawkish by possibly looking to raise Canadian interest rates before the end of 2017 (I would say if oil drops through $40.00 that move could be delayed).\r\n\r\nThe three flutes named above have suddenly (coordinated?) turned from GAME KEEPERS to POACHERS vis-a-vis their interest rate policies.\r\n\r\nI will return to this matter later in the blog with the “SOAPBOX”\r\n\r\nGetting back into the groove now, the PREMIUM SERVICE added about 300 pips last week and I am now back in the mode of CORE POSITIONS and stacking up LIMIT ORDERS.\r\n\r\nHaving said that, it is hard trading at the moment; one must remember that it is summer and we have been blessed with a few moves that may be over-played, but nonetheless have provided some great moves. If you are a cautious and conservative trader like me, you are probably kicking yourself over a few hundred pips extra you could have gained had you not exited positions too early.\r\n\r\nRemember; no one should ever feel guilty about banking pips and few $$$. It’s a much better feeling the losing $$$. Like most of you I guess, we still look at the woulda, coulda and shoulda trades. It’s a normal reaction … but just move on.\r\n\r\nVery comfortable now in my new surroundings in Nova Scotia. It’s a great spot and much better for me trading in a bright open office with a view rather than the darkened room, with a huge fecking tree blocking out most of the natural light that I had previously in Quebec. These subtle differences do make a difference.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n 	<li><strong> LAST WEEK – MY TAKE ON SOME KEY EVENTS:</strong></li>\r\n</ol>\r\nIt would be very easy to repeat myself three or four times in various sections of the blog this week. It will be a check on the state of my mental health to see if I can avoid this!\r\n\r\nIt was a light week with regards to Economic data but holy fuck the central bank governors and presidents more than made up for that.\r\n\r\nIn no particular order, here is what floated my boat last week.\r\n<ul>\r\n 	<li>OIL and USD/CAD:\r\n\r\n\r\nPicture this: - An old man every morning switching on his machines and looking at the screens swearing at himself, “FFS why the feck I am not short this fecking pair” … this was me all week and guess what, I’ll still be doing it next week at this rate.\r\n\r\nAs I mentioned in last week’s LIVE WEBINAR (without getting on my soapbox), I predicted OIL lower to about $42.00 then a small bounce then a test of $40.00. So far it’s playing out.\r\n\r\nI need to get my ass in gear and have a USD/CAD short trade set up in position.\r\n\r\nOIL is a dirty old commodity and OPEC are an out of date collection of countries that lie to each other and the world about production because of pure greed. As the world becomes less and less reliant on middle eastern OIL the effectiveness of what OPEC does or says gets less and less\r\n\r\nI wish that that I could come down off that fence and say what I really mean.\r\n\r\nPutting my attempt at humour to one side, this is all about pure, basic and very simple Economic SUPPLY AND DEMAND.\r\n\r\nThis highly speculative market has lost its edge of late as many hedge funds who were big participants in the OIL markets are no longer around. The ability to push the price around is still there but the logic (did I actually use that word in association with OIL?) has long gone.\r\n\r\nSo basically, this is a SUPPLY AND DEMAND call and nothing else. I think that this message is hitting home with a bit more bite now.\r\n\r\nBack to the CAD…\r\n\r\nI am looking for mid 1.32’s for an entry short if possible but this looks unlikely if data continues to come in line or beat expectations.  As long as I am in short prior to the next BOC meeting at this stage these are my thoughts.</li>\r\n</ul>\r\n&nbsp;\r\n<ul>\r\n 	<li>DRAGHI and the ECB:\r\n\r\nHoly Mother of God. What a fecking gang of unprofessional idiots. They must have all been acting as the scarecrow from the wizard of Oz. Not a damn brain between the lot of them.\r\n\r\n“Unnamed sources” basically the ECB, shit themselves because the single currency strengthened, basically it leapt up like a salmon, and then they tell us a day later that we’re the fecking numpties as we misinterpreted Draghi’s speech. Bollocks basically double bollocks.\r\n\r\nThe FX market was on steroids for the day of Draghi’s speech (Tuesday) and the following day calamity reigned for many retail traders still long. As the “unnamed sources” sound-byte hit the wires everything EUR dropped 100-200 pips in an instant. I’d say that hurt a lot of people because the fills would have been poor, especially with the likes of FXCM! Did they do what they usually do in situations like this and just lock out traders?\r\n\r\nOver the rest of Wednesday the single currency reversed back to the previous day levels. Helter-skelter day!</li>\r\n 	<li>THE ECB ECONOMIC FORUM (Sintra, Portugal)\r\n\r\nDraghi was there as host, along with his three amigos, Carney (BOE), Poloz (BOC) and Kuroda (BOJ).\r\n\r\nThis was where “Carney the flip-flopper” came out of his closet to announce that he would be looking to raise after all… what a “plonker”.\r\n\r\nPoloz confirmed what he stated earlier on CNBC about removing accommodation from the BOC and to start looking to raise interest rates.\r\n\r\nKuroda, apart from needing to spend a few $$$ on dental work, announced nada, nothing new. The BOJ now remains the only central bank in true dovish, accommodative mode.\r\n\r\nMore about this topic later.</li>\r\n</ul>\r\n&nbsp;\r\n<ul>\r\n 	<li>JANET YELLEN:\r\n\r\nOn Tuesday I cut out of trades early after Draghi’s first speech ahead of Janet Yellen’s diary date.\r\n\r\nFFS, it was granny tells a fecking story around the fireside….\r\n\r\nI cut profitable trades to be sensible for “Storytime with Janet”. Never have I been so disappointed. No policies, no outlook, no guessing and no gossip; just stories about Ben and Merv “the swerve”.</li>\r\n 	<li>BREXIT:\r\n\r\nThe negotiations have started in Brussels. Nothing much at all is being leaked. This surprises me, or maybe they are still agreeing on what pens to use on what size of paper?</li>\r\n</ul>\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE WEEKLY FX DRIVE THRU – LIVE WEBINAR:</strong></li>\r\n</ol>\r\nI am canceling the LIVE WEBINARS for the summer and will start up again in the fall/autumn.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\n<u>THIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/ECON-DATA-02072017.png\"><img class=\"aligncenter size-large wp-image-9617\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/ECON-DATA-02072017-953x1024.png\" alt=\"\" width=\"953\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE ECONOMIC DATA EVENTS THIS WEEK:</u>\r\n\r\nQuite a bit scheduled this week. This makes a change from recent weeks and a few items stand out for me.\r\n<ol>\r\n 	<li>USD: The pick of the week for most traders but NOT me is Friday’s Non-Farm payroll numbers. I think I have had more luck on the lottery lately… at least with the lottery you stand a chance of winning.\r\n\r\nAs usual all your family favourites will be dragged onto CNBC, BLOOMBERG and FOX BUSINESS to talk shite about the numbers no one can predict. Frankly given the fact the US department of statistics only give us approximations because previous numbers are altered up and down, in fact previous, previous numbers are altered… it’s all rather a game to stay away from in my opinion. Paint a wall, take out your significant other, mow the lawn or just pick yer nose it’s better than the madness of NFP day.\r\n\r\nPrior to NFP we have ADP jobs data, no real help for NFP as last months numbers showed. The FOMC meeting minutes should be interesting to see how hawkish the FED really are. Is it all fur coat and no knickers, we should find out Wednesday.</li>\r\n 	<li>GBP: A plethora of PMi data. Services and Construction should be strong but Manufacturing maybe a bit below. All are expected to be over 50.</li>\r\n 	<li>AUD: The RBA have a rate statement announcement plus we have Retail sales and a Trade balance number to look forward to. I am getting excited just thinking about these news items. I am well hedged the AUD at the moment so I couldn’t give a rats hairy arse what way the numbers go.</li>\r\n 	<li>CAD: Stephen Poloz (BOC Governor), will be looking closely at the Trade balance and Jobs data no doubt with a BOC interest rate decision up very soon.\r\n\r\nPersonally, given the importance of OIL to the CAD economy and commodities in general, I think he will have more than just one eye on WTi.</li>\r\n</ol>\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS TO NOTE THIS WEEK:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/TCHART-02072017.png\"><img class=\"aligncenter size-large wp-image-9618\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/TCHART-02072017-1024x827.png\" alt=\"\" width=\"1024\" height=\"827\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/EURUSD-D-02072017.png\"><img class=\"aligncenter size-large wp-image-9633\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/EURUSD-D-02072017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/GBPUSD-D-02072017.png\"><img class=\"aligncenter size-large wp-image-9634\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/GBPUSD-D-02072017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/AUDUSD-D-02072017.png\"><img class=\"aligncenter size-large wp-image-9632\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/AUDUSD-D-02072017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/NZDUSD-D-02072017.png\"><img class=\"aligncenter size-large wp-image-9635\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/NZDUSD-D-02072017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDCAD-D-02072017.png\"><img class=\"aligncenter size-large wp-image-9636\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDCAD-D-02072017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDCHF-D-02072017.png\"><img class=\"aligncenter size-large wp-image-9637\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDCHF-D-02072017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDJPY-D-02072017.png\"><img class=\"aligncenter size-large wp-image-9638\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDJPY-D-02072017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><u>WHAT IS THE PREMIUM SERVICE?</u></p>\r\n<p style=\"text-align: center;\">The PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.</p>\r\n<p style=\"text-align: center;\">Full details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.</p>\r\n<p style=\"text-align: center;\">Further information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.</p>\r\n<p style=\"text-align: center;\"><u>\r\nPREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u></p>\r\n<p style=\"text-align: center;\">So; if nothing else, I tell it how it is. I am currently about 40% of my target for this time of the year. I had a poor start to the year and I am now following a vacation and house move in recovery mode.</p>\r\n<p style=\"text-align: center;\">In 2014, 2015 and 2016 I beat my 10,000 pip per annum objective. There is nothing stopping me doing the same this year as my house move and vacation are both behind me.\r\n\r\nI will be trading pretty much full time from now on through to the end of 2017. The opportunity to make pips with me is there and as you will see later in this section and on my webpage, I have a special promotion that was due to expire at the end of June, which I have extended until the open of the markets on July 2nd at 5PM EST, called “DOUBLE IT UP”.\r\n\r\nIf you want to be a part of what I hope will be a storming end to 2017, look at my promotion and website and get subscribed. I mean business from here on in.</p>\r\n<p style=\"text-align: center;\"><u>CURRENT PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">MONTH TO DATE:  +1,203 pips\r\nYEAR TO DATE:      +2,405 pips</p>\r\n<p style=\"text-align: center;\">If you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:</p>\r\n<p style=\"text-align: center;\"><a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a></p>\r\n<p style=\"text-align: center;\">PLEASE NOTE: the above video is best viewed using a Google Chrome browser.</p>\r\n<p style=\"text-align: center;\"></p>\r\n<p style=\"text-align: center;\"><u>DO YOU WANT TO JOIN THE PREMIUM SERVICE?\r\n\r\n</u></p>\r\n<p style=\"text-align: center;\">There has never been a better time….</p>\r\n<p style=\"text-align: center;\">This promotion closes Sunday 2nd July at 5PM EST (Extended from June 30th)</p>\r\n<p style=\"text-align: center;\"><strong>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:\r\n</strong><strong>“DOUBLE IT UP”</strong></p>\r\n<p style=\"text-align: center;\">This is the biggest and I believe the best subscriber promotion that I have ever offered.</p>\r\n<p style=\"text-align: center;\">What is <strong>“DOUBLE IT UP”</strong> all about…</p>\r\n<p style=\"text-align: center;\">Basically, from now until 2nd of July at 5PM EST anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.</p>\r\n<p style=\"text-align: center;\">Confirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.</p>\r\n<p style=\"text-align: center;\">This is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.</p>\r\n<p style=\"text-align: center;\">Below are the dates of the DRIVE THRU blog for the remainder of this year, 2018 and 2019.</p>\r\n<p style=\"text-align: center;\"></p>\r\n<p style=\"text-align: center;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a></p>\r\n<p style=\"text-align: center;\"></p>\r\n\r\n<ol style=\"text-align: center;\" start=\"6\">\r\n 	<li><strong>\r\nWANT A FREE PREMIUM SERVICE SUBSCRIPTION?</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\">If you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$500.00, all you should do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></p>\r\n<p style=\"text-align: center;\">This can be done as follows: -\r\n\r\nOn my welcome page just below my cube logo is where you complete your subscription.</p>\r\n<p style=\"text-align: center;\">July’s winner is:\r\ncarlos**********@gmail.com\r\n\r\nBy the time this blog is posted Carlos should be up and running with full access.</p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n\r\n<ol start=\"7\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:\r\n</strong>(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)</li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"8\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong> THE GAME KEEPERS ARE NOW POACHERS!</strong>\r\n\r\nLast week will be remembered for several things as far as I am concerned: -\r\n<ul>\r\n 	<li>Draghi turns hawkish.</li>\r\n 	<li>The ECB tell us he wasn’t hawkish at all.</li>\r\n 	<li>Carney “flip flops” again.</li>\r\n 	<li>Poloz confirms he’s gone hawkish.</li>\r\n 	<li>Janet’s cozy fire side chat (non-event).</li>\r\n 	<li>Kuroda is not at the party with the other CB Governors.</li>\r\n 	<li>Donald Trump’s bizarre tweets (nothing unusual…I suppose).</li>\r\n 	<li>Rampant Commodity currencies.</li>\r\n 	<li>Theresa May surviving the Queens Speech vote.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nThey were all interesting in their own right, but I want to focus on those bullet points at the top of the list.\r\n\r\nA couple of weeks ago (June 17th) I wrote in this SOAPBOX section about how I thought we as traders probably had a window of about 4/6 months when Central Bank policy divergence between the FED and the other G7 countries Central Banks would give us some strong directional trading opportunities.\r\n\r\nWith what happened last week, I think we can forget that.\r\n\r\nIn true ECB style, President Draghi announces to the world on Tuesday that the EURO AREA recovery was both strengthening and broadening. He added that the Central Bank can aid this covered by adjusting the parameters of it’s policy instruments. He added that the DEFLATION threat was over and reflationary forces were now at play.\r\n\r\nThis announcement was the catalyst for yields to swiftly move higher and this took the EUR/USD up around 150 pips as the single currency broadly strengthened across all EUR linked pairs. The USD (DXY) Index was crushed to hit lows.\r\n\r\nNow, he still had dovish undertones in his speech, but surely to God the ECB could have predicted the response by the markets.\r\n\r\nThe following day…the Lord giveth and the Lord taketh away, at least for an hour or so anyway. In true ECB style of days gone by, out comes an announcement (as the EUR/USD was poking above 1.1400), from un-named sources that the markets read Draghi’s previous day’s speech all wrong, “He was Dovish not Hawkish”.\r\n\r\nWhat a load of crap that was. As mentioned earlier in the blog, all EUR related pairs dropped between 100 and 250 pips in an instant. My guess is that many traders were stopped out way beyond their stop loss levels as the move lower was swift with little or no stopping points on the way, one can just imagine the slippage some brokers would have transmitted to clients.\r\n\r\nOver the following couple of hours, the markets got a grip re-read what Draghi had said and ignored the “un-named source”. Now let’s get one thing absolutely clear. The ECB shit themselves over EUR appreciation across the board and thought they could walk back Draghi’s speech…. bloody idiots. The “un-named” source was an ECB underling of some sort.\r\n\r\nThe ECB has done this sort of thing (try to walk back press releases etc.) because they could not organize a piss up in a brewery.\r\n\r\nThe same day as the attempted walk back from the ECB, “Flip –Flopper” Carney was at it again. The BOE governor was so dovish a week earlier he dismissed the MPC vote of 5-3 at the BOE over a rate hike in sterling. One week later, he is now saying that rates could be moving upwards before the end of 2017.\r\n\r\nCable rallied across the board, the GBP/USD by about 300 pips in the last few days of last week. It now resides around 1.3000.\r\n\r\nStephen Poloz, governor of the BOC also announced that the BOC was looking to end its accommodative policy regarding the CAD.\r\n\r\nWas all this change of direction coordinated?  Was the fact that Janet Yellen, FED chair, in her cozy chat session later the same day after the Carney and Poloz announcements deliberately held without any mention of FED policies or US economic data references?\r\n\r\nIs the Pope catholic?\r\n\r\nAll of this was stage managed and coordinated down to the minute. The only screw up was the ECB, not for the first time misunderstanding the effect of the statement.\r\n\r\nWithout doubt at some time Central Bank policies would change around the world and from that perspective we should not be surprised, but it was the coordination of the message that was fascinating.\r\n\r\nWhat next?\r\n\r\nThe first aspect about all of this I would like to mention is that from the BOE and ECB perspective nothing will probably change until closer to the end of the year, maybe even into early 2018. At least that’s my takeaway.\r\n\r\nDo we still have divergence with Central Banks?\r\n\r\nYes, but it’s now not as easy to trade because the markets will now be anticipating moves in interest rates and speculation will be at fever pitch from now on.\r\n\r\nWhat I do think is that the USD was crushed… over crushed and the likelihood of a bounce in the DXY is good.\r\n\r\nWithout doubt, every word written or uttered by Draghi, Poloz and Flip-Flopper will be scrutinized beyond belief. The game keepers have now turned poachers for want of a better phrase.\r\n\r\nA couple of years ago, in the archives of the DRIVE THRU, I wrote about Central Bank Governors / Presidents being treated as Rock Stars by the markets. I referred to this again after BREXIT when Carney had a walk of about 50 metres to get to the lectern to deliver his actions to support cable. All he needed on the walk were a few lasers borrowed from Pink Floyd and dry ice as he finally entered the conference room.\r\n\r\nIn my opinion, we are back at this stage again.\r\n\r\nAs long as we don’t get the likes of Steve Liesmann from CNBC throwing his underpants on the stage when Janet Yellen walks in, in a Tom Jones copycat move made by his female fans, we should be alright.\r\n\r\nNow there is a picture to pour out your Sunday morning cornflakes to!\r\n\r\n&nbsp;\r\n<ol start=\"9\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\nBLOG VERSION: #243 FREE NEWSLETTER VERSION\r\nDATE: 1st July 2017.\r\n\r\n&nbsp;','THE GAME KEEPERS ARE NOW POACHERS!','','publish','open','closed','','game-keepers-now-poachers','','','2017-07-01 08:38:00','2017-07-01 13:38:00','',0,'https://weeklyfxdrivethru.com/?p=9662',0,'post','',0),(9007,1,'2017-01-28 05:58:08','2017-01-28 10:58:08','','ECON NEWS 28012017','','inherit','open','closed','','econ-news-28012017','','','2017-01-28 10:37:05','2017-01-28 15:37:05','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-NEWS-28012017.png',0,'attachment','image/png',0),(9008,1,'2017-01-28 05:58:21','2017-01-28 10:58:21','','TCHART 28012017','','inherit','open','closed','','tchart-28012017','','','2017-01-28 10:37:49','2017-01-28 15:37:49','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/TCHART-28012017.png',0,'attachment','image/png',0),(9012,1,'2017-01-28 06:01:21','2017-01-28 11:01:21','','AUDUSD D 28012017','','inherit','open','closed','','audusd-d-28012017','','','2017-01-28 10:38:44','2017-01-28 15:38:44','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017.png',0,'attachment','image/png',0),(9013,1,'2017-01-28 06:01:32','2017-01-28 11:01:32','','EURUSD D 28012017','','inherit','open','closed','','eurusd-d-28012017','','','2017-01-28 10:38:19','2017-01-28 15:38:19','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017.png',0,'attachment','image/png',0),(9014,1,'2017-01-28 06:01:43','2017-01-28 11:01:43','','GBPUSD D 28012017','','inherit','open','closed','','gbpusd-d-28012017','','','2017-01-28 10:38:33','2017-01-28 15:38:33','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017.png',0,'attachment','image/png',0),(9015,1,'2017-01-28 06:01:55','2017-01-28 11:01:55','','NZDUSD D 28012017','','inherit','open','closed','','nzdusd-d-28012017','','','2017-01-28 10:38:57','2017-01-28 15:38:57','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017.png',0,'attachment','image/png',0),(9016,1,'2017-01-28 06:02:06','2017-01-28 11:02:06','','USDCAD D 28012017','','inherit','open','closed','','usdcad-d-28012017','','','2017-01-28 10:39:08','2017-01-28 15:39:08','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017.png',0,'attachment','image/png',0),(9017,1,'2017-01-28 06:02:16','2017-01-28 11:02:16','','USDCHF D 28012017','','inherit','open','closed','','usdchf-d-28012017','','','2017-01-28 10:39:26','2017-01-28 15:39:26','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017.png',0,'attachment','image/png',0),(9018,1,'2017-01-28 06:02:26','2017-01-28 11:02:26','','USDJPY 28012017','','inherit','open','closed','','usdjpy-28012017','','','2017-01-28 10:39:37','2017-01-28 15:39:37','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017.png',0,'attachment','image/png',0),(9019,1,'2017-01-28 06:02:41','2017-01-28 11:02:41','','COPPER 28012017','','inherit','open','closed','','copper-28012017','','','2017-01-28 10:44:03','2017-01-28 15:44:03','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017.png',0,'attachment','image/png',0),(9020,1,'2017-01-28 06:02:52','2017-01-28 11:02:52','','DXY 28012017','','inherit','open','closed','','dxy-28012017','','','2017-01-28 10:42:51','2017-01-28 15:42:51','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017.png',0,'attachment','image/png',0),(9021,1,'2017-01-28 06:03:01','2017-01-28 11:03:01','','Wti 28012017','','inherit','open','closed','','wti-28012017','','','2017-01-28 10:43:40','2017-01-28 15:43:40','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017.png',0,'attachment','image/png',0),(9022,1,'2017-01-28 06:03:14','2017-01-28 11:03:14','','SCOTTS SOAPBOX CHART AUDUSD D 28012017','','inherit','open','closed','','scotts-soapbox-chart-audusd-d-28012017','','','2017-01-28 10:45:28','2017-01-28 15:45:28','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017.png',0,'attachment','image/png',0),(9023,1,'2017-01-28 06:03:24','2017-01-28 11:03:24','','SCOTTS SOAPBOX CHART GOLD D 28012017','','inherit','open','closed','','scotts-soapbox-chart-gold-d-28012017','','','2017-01-28 10:43:18','2017-01-28 15:43:18','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017.png',0,'attachment','image/png',0),(9024,1,'2017-01-28 06:03:33','2017-01-28 11:03:33','','SCOTTS SOAPBOX CHART USDCAD D 28012017','','inherit','open','closed','','scotts-soapbox-chart-usdcad-d-28012017','','','2017-01-28 10:44:58','2017-01-28 15:44:58','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017.png',0,'attachment','image/png',0),(9025,1,'2017-01-28 06:03:44','2017-01-28 11:03:44','','SCOTTS SOAPBOX CHART USDSEK D 28012017','','inherit','open','closed','','scotts-soapbox-chart-usdsek-d-28012017','','','2017-01-28 10:44:33','2017-01-28 15:44:33','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017.png',0,'attachment','image/png',0),(9026,1,'2017-01-28 06:17:31','2017-01-28 11:17:31','','NOTICEBOARD 28012017','','inherit','open','closed','','noticeboard-28012017','','','2017-01-28 06:18:40','2017-01-28 11:18:40','',8921,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NOTICEBOARD-28012017.png',0,'attachment','image/png',0),(9578,1,'2017-06-24 05:57:57','2017-06-24 10:57:57','','EURGBP 25062017','','inherit','open','closed','','eurgbp-25062017','','','2017-06-24 06:12:53','2017-06-24 11:12:53','',9591,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/EURGBP-25062017.png',0,'attachment','image/png',0),(9579,1,'2017-06-24 05:58:08','2017-06-24 10:58:08','','GBPAUD 25062017','','inherit','open','closed','','gbpaud-25062017','','','2017-06-24 06:13:14','2017-06-24 11:13:14','',9591,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/GBPAUD-25062017.png',0,'attachment','image/png',0),(9580,1,'2017-06-24 05:58:15','2017-06-24 10:58:15','','GBPCAD 25062017','','inherit','open','closed','','gbpcad-25062017','','','2017-06-24 06:13:28','2017-06-24 11:13:28','',9591,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/GBPCAD-25062017.png',0,'attachment','image/png',0),(9581,1,'2017-06-24 05:58:20','2017-06-24 10:58:20','','GBPCHF 25062017','','inherit','open','closed','','gbpchf-25062017','','','2017-06-24 06:13:42','2017-06-24 11:13:42','',9591,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/GBPCHF-25062017.png',0,'attachment','image/png',0),(9582,1,'2017-06-24 05:58:25','2017-06-24 10:58:25','','GBPNZD 25062017','','inherit','open','closed','','gbpnzd-25062017','','','2017-06-24 06:13:54','2017-06-24 11:13:54','',9591,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/GBPNZD-25062017.png',0,'attachment','image/png',0),(9583,1,'2017-06-24 05:58:31','2017-06-24 10:58:31','','GBPJPY 25062017','','inherit','open','closed','','gbpjpy-25062017','','','2017-06-24 06:14:04','2017-06-24 11:14:04','',9591,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/GBPJPY-25062017.png',0,'attachment','image/png',0),(9584,1,'2017-06-24 05:59:19','2017-06-24 10:59:19','','AUDUSD D 25062017','','inherit','open','closed','','audusd-d-25062017','','','2017-06-24 06:07:33','2017-06-24 11:07:33','',9591,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/AUDUSD-D-25062017.png',0,'attachment','image/png',0),(9585,1,'2017-06-24 05:59:24','2017-06-24 10:59:24','','EURUSD D 25062017','','inherit','open','closed','','eurusd-d-25062017','','','2017-06-24 06:07:11','2017-06-24 11:07:11','',9591,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/EURUSD-D-25062017.png',0,'attachment','image/png',0),(9277,1,'2017-03-11 06:33:24','2017-03-11 11:33:24','&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nThis year is quite strange for several reasons. Over the past few days, I have spoken with several of my subscribers about the general markets, trading in these times, TRUMP, BREXIT, EUROZONE, GREECE, OIL, GOLD and overall geopolitical trading risks. I must say what a solid group of traders I have as subscribers. I am truly motivated having spoken for over 5 hours this week in one form or another about 2017. There is an article in the discussions that were had; a very good article.\r\n\r\nIn summary; we all saw significant market changes. Is change good? I suppose from my own viewpoint with the added responsibility of trying to capture trades with acceptable medium term risks attached for subscribers, change is a challenge. I am adapting; and whilst most saw the reasons behind this, a few with greater risk tolerances than my own, and that is saying something at times, felt that I should just sit out a couple of trades as ultimately given a larger / greater trade perspective the odds are well in my favour of the trade returning to profitability, I just need to give it more time. Why take on losses?\r\n\r\nSome very interesting opinions were listened to and never to be one to sit back and plough on regardless I took on board some thoughts and views and I am applying these to LIVE trades that are currently in place.\r\n\r\nIt was good to have those conversations and it shows that trading often described “as a lonely business” can in fact offer up some real motivational boosts.\r\n\r\nI think I wrote along these lines last week.\r\n\r\n<em>“Trading is basically a formula that needs “tweaking” every now and then but basically it is repetition based around a proven formula. Basically, at the outset of 2017. I tweaked (so to speak) to accommodate “THE DONALD”. </em><em> </em>\r\n\r\nEveryone that I spoke to last week basically agreed with this premise.\r\n\r\nMoving on…\r\n\r\nI am not around next week. Monday 13<sup>th</sup> there will be no WEEKLY FX DRIVE THRU – LIVE and next weekend the 19<sup>th</sup>/20<sup>th</sup> there will be no “DRIVE THRU” blog. My wife and I are away house hunting in the wilds of Eastern Canada. The webinar will return Monday March 21<sup>st</sup> along with my full-time trading once again.\r\n\r\nIt’s all rather annoying really, the timing is poor as profit generation with $$$ and pips was starting to get its mojo going.\r\n\r\nJANUARY:        Pip Loss -673\r\nFEBRUARY:     Pip Gain +1,493\r\nMARCH:            Pip gains so far in 10 days +724\r\n\r\nIt was all starting to re-boot after an awful start to the trading year.\r\n\r\nAs mentioned over the past few weeks, I have been removing older trades and re-structuring my TRADE PLAN moving forward beyond Q1. I had given myself until the end of Q1 to exit all the trades I no longer wanted in my longer-term CORE POSITION plan. This I have done and at the same time I have reduced RISK across the board ready to re-boot after the FED meeting this week. Right now; there is just one trade that does no longer fit inside my TRADE PLAN and by the end of March it will be gone one way or another.\r\n\r\nI am delighted to have almost achieved, ”Part one” of my objective so quickly without taking too much pain with losses. “Part two” is in the wings, I am just waiting for the FOMC meeting to be over and the reaction bedded in.\r\n\r\nMoving on, well actually back a little bit…\r\n\r\nLast week’s news was rather predictable.\r\n\r\nDraghi, did really well trying not to rock the boat and strengthen the single currency. He was doing a great job in his Q&amp;A then he mentioned some “dovish language” that was removed from commentary of previous statements. Like a salmon out of a B.C. river the EUR leaped up. Unlike past times, it did not go far given all the geopolitical uncertainties and headwinds in EUROPE. I think moving forward we can take a note that 1.0620 is reasonable resistance. I say this because as the markets are mainly short EUR the opportunity for a bloody good squeeze was there for the taking; it did not happen.\r\n\r\nPhilip Lowe at the RBA delivered a bit more hawkish commentary but no real lasting effect on the Aussie. It did help me with my AUD/NZD trades.\r\n\r\nADP employment numbers were incredible, and that bloody idiot TRUMP took credit for them. Holy Mother of God, the US is a nonsense. It’s all going to implode, not sure what is going to be the catalyst but like the walls of Jericho it’s coming down.\r\n\r\nI have a vision of an epic biblical movie directed by James Cameron or Steven Spielberg where we see a blonde syrup, nay mop, held in a clenched orange fake tanned hand emerging from the hypothetical bricks and rocks of the wall which lay strewn on the ground, and a voice heard muttering the words; this is the work of crooked Hillary I should have locked her up.\r\n\r\nNo matter how the implosion plays out it will not as far “THE DONALD” would be concerned, his fault in any way shape or form.\r\n\r\nNon-Farm payrolls were a beat on the headline number, which was in line with the expectations given the blow out ADP numbers 48 hours earlier. However, the average hourly earnings once again disappointed missing forecasts at 0.2% instead of the 0.3% projected.\r\n\r\nFollowing the data, the USD weakened, strengthened and then weakened and then strengthened… you know where I am going with this. The USD just chopped about not knowing what the feck to do and basically, I think that everybody’s mind is on the FOMC next week. Had “the hourlies” been in line or better I think we may have seen something but as they were not we got a Friday chop instead.\r\n\r\nWith regards to geopolitical news, the FRENCH ELECTIONS carry on with the usual scandals and accusations flying in all directions.\r\n\r\nThe DUTCH ELECTION is still showing populist leader Geert Wilders up there in the opinion polls. This Nazi style leader will go down a treat in Brussels. This could be just one reason why the single currency cannot rally?\r\n\r\nCan you imagine Wilders and Le Pen in power, apart from the EUROZONE being no more the single currency, it could be well below parity as the Bundesbank have their printing presses working nonstop ready to re-launch the D-mark?\r\n\r\nOh, what fun, lies ahead and EUROPE is in denial about the whole lot of it!\r\n\r\nPlus, I must say this somewhere and get it off my chest: -\r\n<p style=\"text-align: center;\"><strong>IN THE NAME OF FECKING SANITY; GIVEN THE EUROZONE / EUROPEAN UNION HEADWINDS WHAT THE BLOODY HELL IS THE EUR/USD DOING TRADING ABOVE 1.0600.\r\n\r\nTHERE IS COMPLACENCY AND THEN THERE IS ABSOLUTE DENIAL WHICH LEADS TO PANIC.</strong></p>\r\n<p style=\"text-align: center;\"><strong>I KNOW THE MARKETS ARE WHAT THEY ARE BUT COME ON LADS - GIVE ME A BREAK – WORK IN THE REAL WORLD!!</strong></p>\r\nAll this nonsense makes the ITALIAN bank funding a non-event and lets GREECE off the hook… there will be dancing in the streets in part of Europe, should these political changes come about.\r\n\r\nMaybe I need a week’s break from the madness?\r\n\r\nBREXIT took a bit of a back seat as Theresa May toyed with the HOUSE of Lords over the BREXIT bill paper through both houses in the UK.\r\n\r\nPrime Minister May showed her determination and strength of leadership by sacking “the Mop”, aka former Conservative Deputy Prime Minister, now leader in the House of Lords, Michael Heseltine (My Dad thought he was great) because, he led a revolt to slow down the BREXIT passage through parliament by adding amendments.\r\n\r\nPhillip Hammond’s budget came and went without much notice or fanfare to be honest.\r\n\r\nMore…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#8 not this Monday at 5:30PM, the next one will be broadcast on the 20th March fot the reasons mentioned above.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get too 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed (previous LIVE webinars are stored there).: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong><u> </u></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-12032017.png\"><img class=\"aligncenter size-large wp-image-9258\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-12032017-1024x903.png\" alt=\"\" width=\"1024\" height=\"903\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nSeveral items catch my eye this very busy week: -\r\n\r\nBut it is all about Janet Yellen and the FOMC interest rate decision. Everything else plays second fiddle.\r\n<ol>\r\n 	<li>USD: It’s about the FOMC this week. The well-publicized rate hike that is 100% anticipated. Will it happen on Wednesday? WTF is going to happen if it does not!!</li>\r\n 	<li>GBP: We have jobs data and a BOE interest rate announcement as well as an updated policy summary. It’s all so knicker-gripping one can hardly wait.\r\n\r\nI am not expecting any changes in Carney’s interest rate or overview commentary.</li>\r\n 	<li>BOJ: I am not expecting any changes in policy. Still ultra-supportive.</li>\r\n 	<li>CHF: My buddy Thomas Jordan (of the wave good-bye to $10,000 on the GBP/CHF) fame is back in front of the microphone. I cannot see any changes being made to SNB policy whilst the EUROZONE / EUROPEAN UNION headwinds are so dominant…. Hang on; maybe that\'s a reason to change policy?\r\n\r\nSeriously though, I am not expecting change.</li>\r\n</ol>\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-12032017.png\"><img class=\"aligncenter size-large wp-image-9259\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-12032017-1024x863.png\" alt=\"\" width=\"1024\" height=\"863\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-12032017.png\"><img class=\"aligncenter size-large wp-image-9268\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-12032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-12032017.png\"><img class=\"aligncenter size-large wp-image-9273\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-12032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-12032017.png\"><img class=\"aligncenter size-large wp-image-9267\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-12032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-12032017.png\"><img class=\"aligncenter size-large wp-image-9269\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-12032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-12032017.png\"><img class=\"aligncenter size-large wp-image-9270\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-12032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-12032017.png\"><img class=\"aligncenter size-large wp-image-9271\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-12032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-12032017.png\"><img class=\"aligncenter size-large wp-image-9272\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-12032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nThings are much better now and we are seeing good profits returning. As discussed, I am not hanging around with profits if I see an overhead resistance, or previous good support I will take $$$ off the table.\r\n\r\nI am basically waiting until after the FOMC to re-load across the board. At the moment, there are 15 trades (LIVE and LIMIT ORDER) placed with my brokers. It seems quiet but there is a lot of RISK out there to manage through.\r\n\r\nThe EUR/CHF I removed for a 125-pip loss last Friday. This was causing me some concern as I feel that once the single currency falls from grace the pressure on this pair and SNB will be huge. No doubt next week Thomas Jordan will have it spike 300 pips, now that I have covered.\r\n\r\nAs mentioned before, as noted by one or two of you I have ignored RADAR and FLASH trades recently. I will be addressing this situation probably after the FOMC meeting on the 15<sup>th</sup> March 2017. I am 100% focused on my charts, following price action across several potential trading pairs.\r\n\r\n&nbsp;\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nAs you would have noticed late on Friday, I started adding in LIMIT ORDERS in readiness for this week. I really had no intention of doing so but the fall in the USD was as far as I am concerned a “BUY THE DIP” / “SELL THE RIP” opportunity.\r\n\r\nWhilst I do not think that the move after the FOMC is a slam dunk affair. I think that the direction over time is known to be lower given the divergences in Central Bank Monetary Policy it makes sense to buy up and sell up at what may be bargain prices.\r\n\r\nAfter the FOMC I will be adding more layered in short trades: -\r\n\r\nEUR/USD, GBP/USD, EUR/GBP and EUR/JPY.\r\n\r\nand long: -\r\n\r\nUSD/CHF, USD/SEK and USD/JPY,\r\n\r\nPlus: -  a long hard look again at USD/CAD, AUD/USD, NZD/USD and AUD/NZD.\r\n\r\nAs well as: - AUD/CAD, NZD/CAD (although my attempts to trade this pair seemed doomed), GBP/CHF and a re-visit of EUR/NZD once again. I will look at other GBP crosses as well, although I think these may well be BREXIT bounce trades later this year.\r\n\r\nI have my TRADE PLAN in place. I am now just waiting for FED confirmation and the market reaction next Wednesday.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – After exiting with profits, I decided to re-enter again as the NZD weakness is gaining momentum and I feel a NZD/USD 0.6500 handle is possible. This would be good news for AUD/NZD long trades.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions are still being established and I am looking to add even more trades as the month progresses.\r\n\r\nThe bigger picture is that despite encouraging inflation data, the EUROZONE is facing major / serious headwinds ahead.</li>\r\n 	<li>EUR/JPY: - I have been in and out with this pair so far but strategically this is a longer-term trade lower towards 105.00 or even lower as the EUROZONE / EUROPEAN UNION headwinds bite. The JPY trade with the EU is huge and JAPAN has a huge financial stake in EUROPE. The uncertainties ahead will plague this pair in my opinion, and I believe its move will be much lower this year as a result.</li>\r\n 	<li>GBP/USD: - There will be some great GBP long trades in the next 12 months. There will be greater opportunities long GBP than maybe those that remain on the short side.\r\n\r\nVery few people mention capital outflows out of the UK, these could be huge and are critical. This will start to bite sooner rather than later as financial institutions start to make plans on their new structures inside a fresh shaped EUROPEAN UNION.</li>\r\n 	<li>EUR/GBP: - I am still somewhat nervous being short, but believe the EUROZONE risks outweigh those of the UK moving forward. My thoughts are that both the EUR &amp; GBP will start to react together moving forward with BREXIT issues and the EUR/GBP will be caught in the crossfire.\r\n\r\nOver the past week, I have extended the STOP LOSS position on my sole EUR/GBP trade.\r\n\r\nAs mentioned over recent weeks, there are additional EUROZONE headwinds to take into consideration: - FRENCH, DUTCH and GERMAN ELECTIONS, GREECE DEBT CRISIS and a looming ITALIAN DEBT CRISIS. Therefore, I believe in the longer-term the EUR/GBP will fall much lower.</li>\r\n</ol>\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIVE-TRADES-12032017.png\"><img class=\"aligncenter size-large wp-image-9266\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIVE-TRADES-12032017-800x1024.png\" alt=\"\" width=\"800\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-12032017.png\"><img class=\"aligncenter size-large wp-image-9265\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-12032017-723x1024.png\" alt=\"\" width=\"723\" height=\"1024\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>EUROZONE: </strong><strong>IT\'S A GAME OF SNAKES &amp; LADDERS</strong></p>\r\nWhen looking at the diary of Economic events at the start of this month there were a few standouts. The primary one was of next week’s FOMC meeting when to all intents and purposes the most publicized increase in interest rates of all time will take place.\r\n\r\nCan you just imagine the fallout if the FED does not increase US interest rates?\r\n\r\nThe other was last Thursday’s ECB Press Conference.\r\n\r\nOne must say that Mario Draghi, has done a great job at the ECB. He has had to manage disloyalty, broken ranks on messages, interfering feckers from, in particular, Germany and Austria trying to dis-rail his pathway with ECB monetary policy.\r\n\r\nMonetary reforms can only go so far. It is structural reforms that will shape the future of a EUROZONE if there is to be a future.\r\n\r\nLooking country by country at the single currency members, it is so clear that a coordinated structural reform implemented approach across the board is just not an agenda item moving forward. The one size fits all approach cannot accommodate 19 EUROZONE members, with the same package and process at the same time.\r\n\r\nBack to Draghi…\r\n\r\nLast Thursday Draghi had to keep a lid as best he could on the EUROZONE improvements. Headline inflation was at 2% (the target) but core inflation is still weak.\r\n\r\nEUROZONE improvements are so fragile and can fall back much more speedily than they moved up. It is like a snakes and ladders board game. There are many more snakes than ladders in EUROPE.\r\n\r\nYou must read between the numbers and dissect the verbage with all Central Bank Governors and Presidents. They are economical with the truth and use statistics whichever way suits them the best in the moment.\r\n\r\nDraghi, like his peers, move growth numbers up and down as fast as a pair of hookers’ knickers. This time around, for once Mario Draghi had some good news on EUROZONE stats. Economic Growth forecasts were increased to 1.8% in 2017. However, things are so good in the EUROZONE, the growth predictions for 2018 falls back to 1.7%. These numbers are sucked in by the markets as if they were handed down from Sinai by Moses, when in fact they are to a large extent pointless as they move practically at every meeting based upon which way the wind is currently blowing.\r\n\r\nDraghi took credit for removing the risks of DEFLATION from the EUROZONE. How did he do that? He needs to tell Kuroda how he removed DEFLATION. What is the secret sauce? The simple fact is he has no idea; there isn’t a Central bank in the world that knows how to remove or combat DEFLATION.\r\n\r\nBasically, Draghi kept all the biggies unchanged, interest rate commentary, Quantitative Easing (QE) tapering starts next month and the main dovish sentiment in the statement remained. However, some dovish commentary was removed to do with a sustained period with urgency in taking more dovish actions, the markets heard this and the EUR/USD spiked.\r\n\r\nFrom my perspective, this was Draghi’s day in the sun. From here on in until the end of 2017 he will have to react to major headwinds in the EUROZONE. He may have thought that he has climbed a few ladders to get out of the snake pit, but there are more snakes ahead and the EUROZONE could be back in that pit quicker than you can say, never mind spell Quantitative Easing.\r\n\r\nWe all know, or should know that elections in HOLLAND, FRANCE and GERMANY plus, Bank debt problems in ITALY and further GREECE bailout issues are all pending and then we have BREXIT.\r\n\r\nAt the end of the day, it matters not one jot about DEFLATION, should Geert Wilders and Marine Le Pen be elected in HOLLAND and FRANCE, as this would signal the beginning of the end of the EUROZONE.\r\n\r\nI wrote last week about the fragility of the EUROZONE and how lessons never appear to be learnt moving forward.\r\n\r\nFrom a trading perspective given all clouds over EUROPE at the moment I am literally gob smacked that the EUR/USD is trading above 1.0600, in fact at the close of trading last week it was closer to 1.0700 than 1.0600.\r\n\r\nSooner rather than later, in my opinion, we will have a series of huge down days with the EUR/USD. Reality must step in. We are in quite a wide trading range at the moment of 1.0490 to 1.0830.\r\n\r\nI am sure that sellers will step in well ahead of 1.0830, but there does not seem the desire to press lower. Buyers seem plentiful around 1.0520-1.0540.\r\n\r\nI never thought that with such major headwinds that this pair would be struggling to fall lower beyond 1.0490 and at least test the 52 week 1.0340 lows.\r\n\r\nWe are in a game of snakes and ladders and at the moment we are treading very carefully to avoid the snakes. This ability to dodge snakes will end soon and the reality of the geopolitical news that appears largely ignored will have to be reacted to.\r\n\r\nIf there was a poll: - EUR/USD 1.0490 first or 1.0830, which way would you vote?\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #131 THE PREMIUM SERVICE\r\nDATE: 12<sup>th</sup> March 2017.\r\n\r\n&nbsp;','EUROZONE:  IT\'S A GAME OF SNAKES & LADDERS','','publish','open','closed','','eurozone-game-snakes-ladders','','','2017-03-11 06:33:24','2017-03-11 11:33:24','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9277',0,'member_posts','',0),(9033,1,'2017-01-28 10:47:48','2017-01-28 15:47:48','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI thought that this week I would be very upbeat on performance and on how January has turned around. Maintaining my honesty with my approach in this blog, I have to say that my analogy last week of “one step forwards…  two steps back”, can be further enhanced this week by saying FFS and WTF.\r\n\r\nI am not a happy trader at the moment. I have allowed some loss (under water) trades to dominate my time, energy and focus. Whilst, fundamentally, I may be trading in the correct direction, this stupid error on my behalf has deflected and distracted me for the whole of last week. I have been focused on losing trades, and letting a few set-ups on charts go by. Elementary errors, and I thought that I had eradicated these from my trading approach… apparently not.\r\n\r\nJust because I have strong fundamental views on particular currencies and geopolitical events, I had jumped in perhaps a little too strong instead of a gradual easing into positions. I have been guilty of trying to pick a series of tops and bottoms, inside a time-line, that has a new and without doubt volatile U.S. President, whose antics are reminiscent of a children’s playground at times.\r\n\r\nMoving on from the pleasantries…\r\n\r\nThe big news items last week involved personalities, Theresa May (UK Prime Minister) and Donald Trump (U.S. President).\r\n\r\nThe supreme court in the UK passed a ruling that the UK Parliament must ratify the decision to BREXIT. Thankfully, it did not give special dispensation to the devolved governments in Northern Ireland, Scotland and Wales. Had this been included in the decision there is no doubt in my mind that the March 31<sup>st</sup> deadline imposed by the Prime Minister to trigger article 50 would not be met. Even now, there is a chance that MP’s who are happy to run the gauntlet against their constituents wishes and maybe vote REMAIN in a “commons” vote, could table some amendments to the bill served on the UK Parliament, all 137 words of it, last Thursday. There is a very tight passage for the bill, including sanction time in the House of Lords for it to return back to the House of Commons in February for a vote. We shall see.\r\n\r\nOn the other side of the pond, \"THE DONALD\" has been signing off executive order after executive order keeping his campaign promises intact.\r\n\r\nTRUMP has amongst a few other things: -\r\n<ul>\r\n 	<li>Had a twitter fight with the Mexican President and called off a state visit. Kissed and apparently made up via a telephone call. But do not mention “the wall”, I mentioned twice last night by the way and I got away with it!!</li>\r\n 	<li>Told the big three domestic car manufactures to build in the USA or face stiff import tariffs.</li>\r\n 	<li>Enraged the greens over pipe-line approvals.</li>\r\n 	<li>Banned immigration to the U.S. from a selection of Middle Eastern and African nations.</li>\r\n 	<li>Banned ALL refugees for 120 days.</li>\r\n 	<li>Went to the Pentagon saying he thinks water-boarding is fine, but then said yer man in charge of this area “Mad Dog” Mattis can overrule him, it’s his decision****.</li>\r\n 	<li>Had a meeting, lunch and held hands with Theresa May (UK Prime Minister) in Washington under the pretense of discussing the framework for a bilateral trade agreement.</li>\r\n 	<li>Abe (Japan, Prime Minister) is not far behind on a trip to Washington to match the UK. He is apparently booked in for a chat next week now that THE DONALD has withdrawn the U.S. from the Trans Pacific Partnership (TPP).</li>\r\n</ul>\r\nAll \"THE DONALD\" needs to complete a great job done in his first week is out China as a currency manipulator!\r\n\r\nPLEASE NOTE FROM ABOVE: **** I cannot let this point go by, it just would not be fair. If THE DONALD is going to rule the Country like a business and delegate authority like he has indicated here, and if this were to be done across the board,\r\n\r\ni.e. He leads with his ideas and his cabinet manage, personally, I think that this is a “Good Thing”.\r\n\r\nI believe in management by delegating actions, it is a proven business win, it allows for confrontation, debate, reconciliation and agreement, and at the same time 100% focus, without diversity from the big picture for a leader. Should this style take hold in Washington, America could reap some big wins.\r\n\r\nYou may not agree on the policy, but things may actually get done. That in itself would be a huge, momentous, massive achievement for a dysfunctional environment that is still spilt by the party divide.  The Democrats have played their hand quite blatantly in the first week; the good of party not the people. The party first, NOT America still prevails, and it is probably deeper now given style and antics of THE DONALD so far.\r\n\r\n(You see I can offer a balanced approach)\r\n\r\n&nbsp;\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nMy webinar last Monday plagued a great deal with software issues that I thought I had mastered in my demo runs. I am hoping that #2 on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n&nbsp;\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-NEWS-28012017.png\"><img class=\"aligncenter size-large wp-image-9007\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-NEWS-28012017-915x1024.png\" alt=\"\" width=\"915\" height=\"1024\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nBig week coming up culminating with the US Jobs data on Friday.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>BOJ: It will be interesting to read the narrative this time around vis-à-vis the US changes that have taken place. Whilst I strongly suspect that Kuroda (BOJ Governor) will remain dovish and 100% supportive of a weak Yen, the JPY is currently being used as the flight to safety currency given that it is only 0.10% per overnight for institutions in comparison to the CHF which is a 0.75% cost. There could be rhetoric about this as the JPY weakness trade has pulled back significantly from the 118.00 levels seen after TRUMP was elected. Whilst we are hanging around the 115.00 level we have tested the trend lows at 112.50 regularly of late.</li>\r\n 	<li>CAD: The GDP number on Tuesday will be an interesting read to see if any clues can be sought following Poloz’ ill-timed (in my opinion) mention that interest rate cuts were back in the frame once again.\r\n\r\nSince then we have seen the TRUMP pipeline order that has strengthened the CAD somewhat, but the GDP number will be a great tester to look out for moving forward.</li>\r\n 	<li>NZD: Jobs data on Tuesday. Most NZD data of late have been beats. I would prefer the mother of all fails…DIE KIWI DIE!!! As you may guess I am short the NZD currency. Talk about self-inflicted pain!</li>\r\n 	<li>CHINA: Manufacturing PMi data will be a good read. This will spill over into both the AUD and NZD pairs for potential moves.</li>\r\n 	<li>UK: Manufacturing, Construction and Services PMi, Interest Rate, BOE Inflation Report, Monetary Policy Summary and Mark Carney speaks…\r\n\r\nA plethora of UK data and information to absorb, plus we will have the TRUMP / MAY bilateral trade talks to digest. If that is not enough there will be BREXIT progression through the UK parliament to consider as well.\r\n\r\nThere is a lot of data. Carney’s words and BREXIT will, in my opinion dominate. The market may be looking for inflation hints and ideas on interest rate increases. Quite frankly, I think that Carney would do nada, even if he had inflation at 3%. But that is just my opinion.</li>\r\n 	<li>RBA: Monetary Policy Statement. I believe in the Central banks so I will read this one from Dr. Lowe with interest.</li>\r\n 	<li>USD: Jobs data, the FOMC Policy statement, Consumer Confidence, ISM PMi data and “THE DONALD”.\r\n\r\nThis will be an interesting week stateside. Janet Yellen, can’t really do too much at the moment given the fact the policies from TRUMP so far are just impressive signatures on a series of Executive orders. The US data is improving and I am certain that should “THE DONALD” focus on infrastructure spending and Tax Reform these will be sufficient to have Yellen attempt to turn HAWKISH. Frankly, I do not think that she has it in her to go HAWKISH, once a DOVE always a DOVE in my opinion. If she treasures her job she’ll go HAWKISH good style and be ahead of the curve. Otherwise in my opinion TRUMP will have her out, quicker than wife Melania can say “Baron, pass me the HP sauce”.\r\n\r\nMost of the time next week, we will be waiting on “THE DONALD” to fill up our otherwise boring, dreary existences!</li>\r\n</ol>\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.\r\n\r\nThere is so much uncertainty surrounding “THE DONALD”, THE BREXIT and THE EUROZONE it is a day to day existence in my world, which I hate. I much prefer a steady directional move in place even with pullbacks and the like involved. Right now, we leap one way then the other on news items rather than policy. This is not good for the markets or its participants.<u> </u>\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/TCHART-28012017.png\"><img class=\"aligncenter size-large wp-image-9008\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/TCHART-28012017-1024x809.png\" alt=\"\" width=\"1024\" height=\"809\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9013\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9014\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9012\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9015\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9016\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9017\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017.png\"><img class=\"aligncenter size-large wp-image-9018\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI mentioned it earlier and I put similar comments out on TWITTER early last week, that I was having issues overcoming some CORE POSITIONS that were up in my face namely “cable”.\r\n\r\nI have the GBP/USD still in a separate account from when we were posting BREXIT trades last year. It is a sizeable account but I had earmarked the monies to be split into 3 accounts moving forward. This was pre-occupying my time and the delay to move monies and because it would affect my RISK limits it was affecting me, when it shouldn’t have.\r\n\r\nI think I wrote about this “pre-occupation” “focus” on the negative a couple of years ago, when I wrote several articles on the psychology of trading. I am over it now, but I cannot believe how I let that negative get to me so much, it consumed me for about 72 hours.\r\n\r\nMoving on…\r\n\r\nThe trading week is poor. I hate it and I cannot wait to get January out of the way and move into a fresh month. I wrote to a couple of you during the week and stated that last year it was “ice-storms” that cleared out many big trades, the year before the EUR/CHF peg removal, so I may look at January as one of those type of events should I decide to clear out some trades that just aren’t doing it!\r\n\r\nHaving said that, there were not that many set-ups in the past week that interested me. It was chop, chop and more chop most of the time, there simply weren’t many trades that stood out in my opinion. I have a 30-minute FLASH TRADE style called the pullback strategy. When all else fails, this works, because of its short-term involvement with a trade. Using my tried and tested parameters from the past 5/6 years…nada. That said it all for me last week. That being said, I did let a couple of fundamental trades go by.\r\n\r\nAnyway, moving onwards and upwards to infinity and beyond!\r\n\r\n&nbsp;\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nThis week will be hard. There are not that many opportunities about and we are short on policy but extremely high on rhetoric at the moment. It is not a conducive mix for great trading. I will therefore need to be cautious and trade in the knowledge that a TWEET could scupper all plans.\r\n\r\nI have placed LIMIT ORDERS on AUD/USD and I have decided to re-enter the NZD/USD short again to add to my AUD/NZD and EUR/NZD positions. I want to get involved with the USD/CAD but I had one poor losing trade last week.  With pipelines news dominating plus it also appears that USDCAD correlation to oil is somewhat tenuous at the moment I will now stand aside and wait.\r\n\r\nTHE FED, RBA, BOJ and BOE are all giving policy outlines this week and my hope is that I will be better equipped this time next week with some insights and updates on policies. My fear is that I will still be a mushroom, kept in the dark and fed sh**e.\r\n\r\nCorrelations are off, some people say lagging. This is also a major concern re: confidence in a trade set up being valid.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Frustrating as it is I am still a believer. I will continue to add on pullbacks and lift off 50 -100 pip gains as they become available. Patience is the key.</li>\r\n 	<li>I have also added the EUR/NZD to the NZD portfolio. I have two LIVE trades plus a “BUY STOP” limit order in place. I did believe that this pair would be well in a healthy positive position by now. It looks like I will need to be patient and bide my time.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nAlways going to be looking to add, I think that for at least Q1 and Q2 the EUROZONE will remain under downside pressures. If BREXIT negotiations are difficult, which I believe they should be, the German desire for the ECB to raise rates could be seen for what it is, which is, in an election year pure and utter propaganda to win over the German savers who have been taken to the cleaners with zero savings interest rates for many years now and at all elections they are being fed a plate of empty promises.</li>\r\n 	<li>GBP/USD: - started building and have taken profits and a for the sake of holding RISK TOLERANCE intact also a big loss already on this position. This could be an annoying trade, as you know only too well, the cable can be a slippery little fecker at the best of times. It has the ability to take out all longs and all shorts out of the market in a single session.\r\n\r\nOne will require patience with this pair as it will flip flop all over the place.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<u>THE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar:  Monday January 30th<sup>d</sup> 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event. To access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE1-28012017.png\"><img class=\"aligncenter size-large wp-image-9010\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE1-28012017-813x1024.png\" alt=\"\" width=\"813\" height=\"1024\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE2-28012017.png\"><img class=\"aligncenter size-large wp-image-9011\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE2-28012017-925x1024.png\" alt=\"\" width=\"925\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-28012017.png\"><img class=\"aligncenter size-large wp-image-9009\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-28012017-756x1024.png\" alt=\"\" width=\"756\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE USD (DXY)?</strong></p>\r\nThis will be a very short article…\r\n\r\n“It’s anyone’s guess, fu**ed if I know”.\r\n\r\nHave a great week trading and good luck!\r\n\r\nSo, there ya go….\r\n\r\n&nbsp;\r\n\r\nAs a fundamental trader, and someone who prefers to take a longer-term time horizon with trading, this market is difficult for me at the moment.\r\n\r\nI, like most of you, will listen to and watch the likes of BLOOMBERG and CNBC and take note of what the expert analysts say. The problem as I see it is, these guys have no clue either in the short-term other than say that it will be volatile. With their so-called “picks”, I would have to say that quite frankly my 5 year Labrador Ozzy would be just as accurate. Like most of the analyst’s, Ozzy has “no skin” in the game either.\r\n\r\nLet’s face facts they all (analysts) got it wrong on how the markets would react to a TRUMP Presidency and they have in my opinion shown the same consistency since.\r\n\r\nThe simple facts are: -\r\n<ul>\r\n 	<li>The GBP has reacted to the BREXIT news.</li>\r\n 	<li>The JPY rallied and then pulled back.</li>\r\n 	<li>The MXN has been up and down like a stripper on a greasy pole ever since TRUMP was elected.</li>\r\n 	<li>We are just in a sideways range, with the odd spike here and there.</li>\r\n</ul>\r\nLong term I feel comfortable with my directional core position trades. However, apart from watching the “chop-chop” everyday what clues am I looking at, and what am I looking for?\r\n\r\nI have written over the past few years in this blog about about CORRELATIONS, LEAD INDICATORS and ALIGNMENTS. Trading Forex is repetitive and for the most part boring. It is the same old, same old day after day.\r\n\r\nMy wife and I love our two dogs Ozzy and Aoife (Black Labradors, brother and sister), I often joke about how much of their lives are spent waiting. An hour before feeding time in the morning and the evening they are like coiled cobras waiting to pounce. They are stressing out about food; “I need it now”. They wait in the sitting up position staring at you trying to brainwash you to feed them early. You put them out in the gardens to do “wee’s and poo’s, they come back to the door and wait. Every day the same routines are repeated over and over.\r\n\r\nMy point is, my existence at the moment, is very similar to my dogs, in the sense that I am waiting and staring for hours on end at my computer screens for something meaningful to happen.\r\n\r\nMoving back to my point…\r\n\r\nMy LEAD INDICATORS are where I am spending most of my time looking for ideas, alignments and correlations as well as some inspiration. My LEAD INDICATORS are: -\r\n\r\n<strong>DXY, OIL, GOLD, COPPER, USD/SEK, USD/CAD and AUD/USD</strong>.\r\n\r\nMy routine is as follows; I scan all seven charts each time before I start trading. I also look at US 30 year treasuries and the S&amp;P on most occasions.\r\n\r\nI use the daily charts just to see alignments and correlations. These give me directional trading confidence. At the moment, some correlations are off and alignments are not at 100%.\r\n\r\nNow let’s get this straight. This is not analysis paralysis. As you will see from the charts below, I am getting a flavour, of course if I want to dig deeper I can and I do. But in real terms I am usually drinking my first coffee of the day as I look though these charts. These charts are basic, clear, very little on them. They are simple, clean and functional for what I want. I am looking for changes from the previous day, how has Asian news affected these charts, if at all. What about the European open has anything taken hold?\r\n\r\n&nbsp;\r\n\r\nUSD Index (DXY):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017.png\"><img class=\"aligncenter size-large wp-image-9020\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017-1024x431.png\" alt=\"\" width=\"1024\" height=\"431\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above Daily DXY chart has been on one my screens since early December last year. If I miss a tweet from THE DONALD, not to worry the effect is usually seen here most of the time.\r\n\r\nOver the longer-term the DXY has broken higher. Right now, we are moving lower but within this move, the longer-term overall move is making a series of higher lows. This gives me some comfort, as ultimately I am bullish the USD. Since “THE DONALD” was elected we have been moving lower, then higher, than lower again. The level of 100.00 is a key psychological number. Just below we have 99.80, which has acted as support from where we have based and started to move higher once again.\r\n\r\nXAU/USD (GOLD):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9023\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nI look at GOLD as being inverse with the USD currency overall with a high correlation to the CHF. Generally speaking, the correlation with the USD is intact. If you compare the two charts we are following the same route. As the DXY based for say three days the GOLD chart topped for a similar period.\r\n\r\n&nbsp;\r\n\r\nUSOIL (OIL):\r\n\r\nI look at these LEADING INDICATOR charts very quickly first thing to get an overall feel.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017.png\"><img class=\"aligncenter size-large wp-image-9021\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017-1024x432.png\" alt=\"\" width=\"1024\" height=\"432\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nWith regards to OIL. I do not believe a word that comes out of OPEC and in my opinion it will just be a matter of time before the first violator of the production freeze is outed. That aside, $55.00 is the top and I am now looking at $52.46 as the 61.8% retracement to see will that hold or fail. After we have a trend line support and then in my opinion I see a test of $50.00 and then we go lower. The OPEC deal will be dead in the water by this stage, I think they were hoping for almost $70.00, the fact that $55.00 could not be passed must be biting hard.\r\n\r\nThe correlation of OIL to the USD/CAD is off at the moment.\r\n\r\n&nbsp;\r\n\r\nXCU/USD (COPPER):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017.png\"><img class=\"aligncenter size-large wp-image-9019\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017-1024x453.png\" alt=\"\" width=\"1024\" height=\"453\" /></a>\r\n\r\nI get asked many times why Copper?\r\n\r\nVery simple, copper is used in all types of buildings in wiring. It is a great indicator of the building industry. It’s usually bought early, ahead of other commodities and as I have stated many, many times before “IT’S ALL ABOUT COMMODITIES” … the rest follows. We may get “laggers” but the rest follows.\r\n\r\nThe COPPER chart above looks to be a potential bullish wedge breakout. This is one to keep on your radar moving forward.\r\n\r\nCopper and the AUD are linked in my opinion. The Copper chart looks bullish, the AUD/USD is far from it. It is sideways looking more bearish than bullish. With the AUD/USD being linked to copper and as a commodity currency it\'s a great barometer of several markets in my opinion.\r\n\r\n&nbsp;\r\n\r\nUSD/SEK:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9025\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nIn a channel, downwards sloping channel and going sideways. It has been trying to establish a base ahead of 8.7800, which offers great support from October 2016.\r\n\r\nThis pair is extremely USD sensitive and is a superb gauge in my opinion to get sentiment. We are sideways. That says to me clear snow / paint a wall / walk the dogs.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9024\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs we all know, it has been the proxy for OIL. This has uncoupled of late especially as “THE DONALD” has been signing his name over a few pipelines related executive orders.\r\n\r\nI have mixed views here. “THE DONALD” is strengthening the CAD. Poloz at the BOC is looking at rate cuts, which should weaken the currency.\r\n\r\nThe currency pair itself whilst showing weakness over the past two days cannot be trusted. It has been screwing with longs and shorts taking them both out in the same session with extreme moves.\r\n\r\nI do NOT like it when this currency which is renounced for prompting USD moves first cannot be trusted.\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9022\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\nNot comfortable with this pair. It is not following Copper or vice versa and its Antipodean counterpart, the NZD is much stronger at the moment with bolder moves. Whilst I do think that 0.7610 is a great short to sell against. It is with extreme caution and a tight stop given the Copper chart.\r\n\r\n&nbsp;\r\n\r\nSUMMARY:\r\n\r\nAs you can hopefully see using charts to try and gauge the USD direction is also as unclear as the TV pundits. We have in my opinion a lot of mixed messages.\r\n\r\nSo, when I started this article with “fu**ed if I know” … I do not believe that I am alone. If you are looking to blame someone blame “THE DONALD”.\r\n\r\nMost of the market uncertainty is based around the US President. His aggressive stance on trade protectionism is scaring the crap out of some people. I believe the FED’s inflation objective of 2% will be achieved very quickly once increased costs flow through the US economy and FED interest rate hikes will be on time, possibly quarterly.\r\n\r\nThe UK will not be far behind. It is the commodity currencies that will lag in my opinion as factory prices will be held for as long as possible and then this pressure will force commodity prices lower initially followed by stocks. The USD should hit the recent 103.50 highs and then strike towards the 120.00 level from 2001-2002. Now there’s a call!!\r\n\r\nSo longer term you can see where I am coming from. Short-term, it is just chop-chop and more chop-chop.\r\n\r\nUncertainties over the BREXIT and the EUROZONE elections should give some directional trading, but, we live in a “King Dollar” world and directional trading at the moment is mostly in 20 minute chunks.\r\n\r\nTo give you something to hold onto. It was crucial in my opinion for the DXY to hold 99.80. I was thinking we could drift to 99.50. This in itself shows that the USD has value, it would at the moment, be the winner in the less ugly competition for some people because it has a value.\r\n\r\nYou can put lipstick on the EUR, but it is still a pig and its direction given all the headwinds it is facing in my opinion has to be lower. As the EUR accounts for over 50% of the DXY mix of the currency basket this will / should support the USD moving forward.\r\n\r\nI paint a challenging picture in the immediate time frames. That cannot be helped, it is how I see things.\r\n\r\nI am NOT comfortable trading at the moment, but what I will say quite categorically is PLAN YOUR TRADES if you are going to trade and LET THE TRADES COME TO YOUR PRICE… do not jump in all guns blazing.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #125 PREMIUM SERVICE\r\nDATE: 29th January 2017.<strong>\r\n\r\n</strong>','WHERE NEXT FOR THE USD (DXY)?','','publish','open','closed','','next-usd-dxy','','','2017-01-28 10:47:48','2017-01-28 15:47:48','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9033',0,'member_posts','',0),(9034,1,'2017-01-28 10:47:48','2017-01-28 15:47:48','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI thought that this week I would be very upbeat on performance and on how January has turned around. Maintaining my honesty with my approach in this blog, I have to say that my analogy last week of “one step forwards…  two steps back”, can be further enhanced this week by saying FFS and WTF.\r\n\r\nI am not a happy trader at the moment. I have allowed some loss (under water) trades to dominate my time, energy and focus. Whilst, fundamentally, I may be trading in the correct direction, this stupid error on my behalf has deflected and distracted me for the whole of last week. I have been focused on losing trades, and letting a few set-ups on charts go by. Elementary errors, and I thought that I had eradicated these from my trading approach… apparently not.\r\n\r\nJust because I have strong fundamental views on particular currencies and geopolitical events, I had jumped in perhaps a little too strong instead of a gradual easing into positions. I have been guilty of trying to pick a series of tops and bottoms, inside a time-line, that has a new and without doubt volatile U.S. President, whose antics are reminiscent of a children’s playground at times.\r\n\r\nMoving on from the pleasantries…\r\n\r\nThe big news items last week involved personalities, Theresa May (UK Prime Minister) and Donald Trump (U.S. President).\r\n\r\nThe supreme court in the UK passed a ruling that the UK Parliament must ratify the decision to BREXIT. Thankfully, it did not give special dispensation to the devolved governments in Northern Ireland, Scotland and Wales. Had this been included in the decision there is no doubt in my mind that the March 31<sup>st</sup> deadline imposed by the Prime Minister to trigger article 50 would not be met. Even now, there is a chance that MP’s who are happy to run the gauntlet against their constituents wishes and maybe vote REMAIN in a “commons” vote, could table some amendments to the bill served on the UK Parliament, all 137 words of it, last Thursday. There is a very tight passage for the bill, including sanction time in the House of Lords for it to return back to the House of Commons in February for a vote. We shall see.\r\n\r\nOn the other side of the pond, \"THE DONALD\" has been signing off executive order after executive order keeping his campaign promises intact.\r\n\r\nTRUMP has amongst a few other things: -\r\n<ul>\r\n 	<li>Had a twitter fight with the Mexican President and called off a state visit. Kissed and apparently made up via a telephone call. But do not mention “the wall”, I mentioned twice last night by the way and I got away with it!!</li>\r\n 	<li>Told the big three domestic car manufactures to build in the USA or face stiff import tariffs.</li>\r\n 	<li>Enraged the greens over pipe-line approvals.</li>\r\n 	<li>Banned immigration to the U.S. from a selection of Middle Eastern and African nations.</li>\r\n 	<li>Banned ALL refugees for 120 days.</li>\r\n 	<li>Went to the Pentagon saying he thinks water-boarding is fine, but then said yer man in charge of this area “Mad Dog” Mattis can overrule him, it’s his decision****.</li>\r\n 	<li>Had a meeting, lunch and held hands with Theresa May (UK Prime Minister) in Washington under the pretense of discussing the framework for a bilateral trade agreement.</li>\r\n 	<li>Abe (Japan, Prime Minister) is not far behind on a trip to Washington to match the UK. He is apparently booked in for a chat next week now that THE DONALD has withdrawn the U.S. from the Trans Pacific Partnership (TPP).</li>\r\n</ul>\r\nAll \"THE DONALD\" needs to complete a great job done in his first week is out China as a currency manipulator!\r\n\r\nPLEASE NOTE FROM ABOVE: **** I cannot let this point go by, it just would not be fair. If THE DONALD is going to rule the Country like a business and delegate authority like he has indicated here, and if this were to be done across the board,\r\n\r\ni.e. He leads with his ideas and his cabinet manage, personally, I think that this is a “Good Thing”.\r\n\r\nI believe in management by delegating actions, it is a proven business win, it allows for confrontation, debate, reconciliation and agreement, and at the same time 100% focus, without diversity from the big picture for a leader. Should this style take hold in Washington, America could reap some big wins.\r\n\r\nYou may not agree on the policy, but things may actually get done. That in itself would be a huge, momentous, massive achievement for a dysfunctional environment that is still spilt by the party divide.  The Democrats have played their hand quite blatantly in the first week; the good of party not the people. The party first, NOT America still prevails, and it is probably deeper now given style and antics of THE DONALD so far.\r\n\r\n(You see I can offer a balanced approach)\r\n\r\n&nbsp;\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nMy webinar last Monday plagued a great deal with software issues that I thought I had mastered in my demo runs. I am hoping that #2 on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n&nbsp;\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-NEWS-28012017.png\"><img class=\"aligncenter size-large wp-image-9007\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-NEWS-28012017-915x1024.png\" alt=\"\" width=\"915\" height=\"1024\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nBig week coming up culminating with the US Jobs data on Friday.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>BOJ: It will be interesting to read the narrative this time around vis-à-vis the US changes that have taken place. Whilst I strongly suspect that Kuroda (BOJ Governor) will remain dovish and 100% supportive of a weak Yen, the JPY is currently being used as the flight to safety currency given that it is only 0.10% per overnight for institutions in comparison to the CHF which is a 0.75% cost. There could be rhetoric about this as the JPY weakness trade has pulled back significantly from the 118.00 levels seen after TRUMP was elected. Whilst we are hanging around the 115.00 level we have tested the trend lows at 112.50 regularly of late.</li>\r\n 	<li>CAD: The GDP number on Tuesday will be an interesting read to see if any clues can be sought following Poloz’ ill-timed (in my opinion) mention that interest rate cuts were back in the frame once again.\r\n\r\nSince then we have seen the TRUMP pipeline order that has strengthened the CAD somewhat, but the GDP number will be a great tester to look out for moving forward.</li>\r\n 	<li>NZD: Jobs data on Tuesday. Most NZD data of late have been beats. I would prefer the mother of all fails…DIE KIWI DIE!!! As you may guess I am short the NZD currency. Talk about self-inflicted pain!</li>\r\n 	<li>CHINA: Manufacturing PMi data will be a good read. This will spill over into both the AUD and NZD pairs for potential moves.</li>\r\n 	<li>UK: Manufacturing, Construction and Services PMi, Interest Rate, BOE Inflation Report, Monetary Policy Summary and Mark Carney speaks…\r\n\r\nA plethora of UK data and information to absorb, plus we will have the TRUMP / MAY bilateral trade talks to digest. If that is not enough there will be BREXIT progression through the UK parliament to consider as well.\r\n\r\nThere is a lot of data. Carney’s words and BREXIT will, in my opinion dominate. The market may be looking for inflation hints and ideas on interest rate increases. Quite frankly, I think that Carney would do nada, even if he had inflation at 3%. But that is just my opinion.</li>\r\n 	<li>RBA: Monetary Policy Statement. I believe in the Central banks so I will read this one from Dr. Lowe with interest.</li>\r\n 	<li>USD: Jobs data, the FOMC Policy statement, Consumer Confidence, ISM PMi data and “THE DONALD”.\r\n\r\nThis will be an interesting week stateside. Janet Yellen, can’t really do too much at the moment given the fact the policies from TRUMP so far are just impressive signatures on a series of Executive orders. The US data is improving and I am certain that should “THE DONALD” focus on infrastructure spending and Tax Reform these will be sufficient to have Yellen attempt to turn HAWKISH. Frankly, I do not think that she has it in her to go HAWKISH, once a DOVE always a DOVE in my opinion. If she treasures her job she’ll go HAWKISH good style and be ahead of the curve. Otherwise in my opinion TRUMP will have her out, quicker than wife Melania can say “Baron, pass me the HP sauce”.\r\n\r\nMost of the time next week, we will be waiting on “THE DONALD” to fill up our otherwise boring, dreary existences!</li>\r\n</ol>\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.\r\n\r\nThere is so much uncertainty surrounding “THE DONALD”, THE BREXIT and THE EUROZONE it is a day to day existence in my world, which I hate. I much prefer a steady directional move in place even with pullbacks and the like involved. Right now, we leap one way then the other on news items rather than policy. This is not good for the markets or its participants.<u> </u>\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/TCHART-28012017.png\"><img class=\"aligncenter size-large wp-image-9008\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/TCHART-28012017-1024x809.png\" alt=\"\" width=\"1024\" height=\"809\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9013\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9014\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9012\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9015\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9016\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9017\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017.png\"><img class=\"aligncenter size-large wp-image-9018\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI mentioned it earlier and I put similar comments out on TWITTER early last week, that I was having issues overcoming some CORE POSITIONS that were up in my face namely “cable”.\r\n\r\nI have the GBP/USD still in a separate account from when we were posting BREXIT trades last year. It is a sizeable account but I had earmarked the monies to be split into 3 accounts moving forward. This was pre-occupying my time and the delay to move monies and because it would affect my RISK limits it was affecting me, when it shouldn’t have.\r\n\r\nI think I wrote about this “pre-occupation” “focus” on the negative a couple of years ago, when I wrote several articles on the psychology of trading. I am over it now, but I cannot believe how I let that negative get to me so much, it consumed me for about 72 hours.\r\n\r\nMoving on…\r\n\r\nThe trading week is poor. I hate it and I cannot wait to get January out of the way and move into a fresh month. I wrote to a couple of you during the week and stated that last year it was “ice-storms” that cleared out many big trades, the year before the EUR/CHF peg removal, so I may look at January as one of those type of events should I decide to clear out some trades that just aren’t doing it!\r\n\r\nHaving said that, there were not that many set-ups in the past week that interested me. It was chop, chop and more chop most of the time, there simply weren’t many trades that stood out in my opinion. I have a 30-minute FLASH TRADE style called the pullback strategy. When all else fails, this works, because of its short-term involvement with a trade. Using my tried and tested parameters from the past 5/6 years…nada. That said it all for me last week. That being said, I did let a couple of fundamental trades go by.\r\n\r\nAnyway, moving onwards and upwards to infinity and beyond!\r\n\r\n&nbsp;\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nThis week will be hard. There are not that many opportunities about and we are short on policy but extremely high on rhetoric at the moment. It is not a conducive mix for great trading. I will therefore need to be cautious and trade in the knowledge that a TWEET could scupper all plans.\r\n\r\nI have placed LIMIT ORDERS on AUD/USD and I have decided to re-enter the NZD/USD short again to add to my AUD/NZD and EUR/NZD positions. I want to get involved with the USD/CAD but I had one poor losing trade last week.  With pipelines news dominating plus it also appears that USDCAD correlation to oil is somewhat tenuous at the moment I will now stand aside and wait.\r\n\r\nTHE FED, RBA, BOJ and BOE are all giving policy outlines this week and my hope is that I will be better equipped this time next week with some insights and updates on policies. My fear is that I will still be a mushroom, kept in the dark and fed sh**e.\r\n\r\nCorrelations are off, some people say lagging. This is also a major concern re: confidence in a trade set up being valid.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Frustrating as it is I am still a believer. I will continue to add on pullbacks and lift off 50 -100 pip gains as they become available. Patience is the key.</li>\r\n 	<li>I have also added the EUR/NZD to the NZD portfolio. I have two LIVE trades plus a “BUY STOP” limit order in place. I did believe that this pair would be well in a healthy positive position by now. It looks like I will need to be patient and bide my time.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nAlways going to be looking to add, I think that for at least Q1 and Q2 the EUROZONE will remain under downside pressures. If BREXIT negotiations are difficult, which I believe they should be, the German desire for the ECB to raise rates could be seen for what it is, which is, in an election year pure and utter propaganda to win over the German savers who have been taken to the cleaners with zero savings interest rates for many years now and at all elections they are being fed a plate of empty promises.</li>\r\n 	<li>GBP/USD: - started building and have taken profits and a for the sake of holding RISK TOLERANCE intact also a big loss already on this position. This could be an annoying trade, as you know only too well, the cable can be a slippery little fecker at the best of times. It has the ability to take out all longs and all shorts out of the market in a single session.\r\n\r\nOne will require patience with this pair as it will flip flop all over the place.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<u>THE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar:  Monday January 30th<sup>d</sup> 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event. To access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE1-28012017.png\"><img class=\"aligncenter size-large wp-image-9010\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE1-28012017-813x1024.png\" alt=\"\" width=\"813\" height=\"1024\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE2-28012017.png\"><img class=\"aligncenter size-large wp-image-9011\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE2-28012017-925x1024.png\" alt=\"\" width=\"925\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-28012017.png\"><img class=\"aligncenter size-large wp-image-9009\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-28012017-756x1024.png\" alt=\"\" width=\"756\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE USD (DXY)?</strong></p>\r\nThis will be a very short article…\r\n\r\n“It’s anyone’s guess, fu**ed if I know”.\r\n\r\nHave a great week trading and good luck!\r\n\r\nSo, there ya go….\r\n\r\n&nbsp;\r\n\r\nAs a fundamental trader, and someone who prefers to take a longer-term time horizon with trading, this market is difficult for me at the moment.\r\n\r\nI, like most of you, will listen to and watch the likes of BLOOMBERG and CNBC and take note of what the expert analysts say. The problem as I see it is, these guys have no clue either in the short-term other than say that it will be volatile. With their so-called “picks”, I would have to say that quite frankly my 5 year Labrador Ozzy would be just as accurate. Like most of the analyst’s, Ozzy has “no skin” in the game either.\r\n\r\nLet’s face facts they all (analysts) got it wrong on how the markets would react to a TRUMP Presidency and they have in my opinion shown the same consistency since.\r\n\r\nThe simple facts are: -\r\n<ul>\r\n 	<li>The GBP has reacted to the BREXIT news.</li>\r\n 	<li>The JPY rallied and then pulled back.</li>\r\n 	<li>The MXN has been up and down like a stripper on a greasy pole ever since TRUMP was elected.</li>\r\n 	<li>We are just in a sideways range, with the odd spike here and there.</li>\r\n</ul>\r\nLong term I feel comfortable with my directional core position trades. However, apart from watching the “chop-chop” everyday what clues am I looking at, and what am I looking for?\r\n\r\nI have written over the past few years in this blog about about CORRELATIONS, LEAD INDICATORS and ALIGNMENTS. Trading Forex is repetitive and for the most part boring. It is the same old, same old day after day.\r\n\r\nMy wife and I love our two dogs Ozzy and Aoife (Black Labradors, brother and sister), I often joke about how much of their lives are spent waiting. An hour before feeding time in the morning and the evening they are like coiled cobras waiting to pounce. They are stressing out about food; “I need it now”. They wait in the sitting up position staring at you trying to brainwash you to feed them early. You put them out in the gardens to do “wee’s and poo’s, they come back to the door and wait. Every day the same routines are repeated over and over.\r\n\r\nMy point is, my existence at the moment, is very similar to my dogs, in the sense that I am waiting and staring for hours on end at my computer screens for something meaningful to happen.\r\n\r\nMoving back to my point…\r\n\r\nMy LEAD INDICATORS are where I am spending most of my time looking for ideas, alignments and correlations as well as some inspiration. My LEAD INDICATORS are: -\r\n\r\n<strong>DXY, OIL, GOLD, COPPER, USD/SEK, USD/CAD and AUD/USD</strong>.\r\n\r\nMy routine is as follows; I scan all seven charts each time before I start trading. I also look at US 30 year treasuries and the S&amp;P on most occasions.\r\n\r\nI use the daily charts just to see alignments and correlations. These give me directional trading confidence. At the moment, some correlations are off and alignments are not at 100%.\r\n\r\nNow let’s get this straight. This is not analysis paralysis. As you will see from the charts below, I am getting a flavour, of course if I want to dig deeper I can and I do. But in real terms I am usually drinking my first coffee of the day as I look though these charts. These charts are basic, clear, very little on them. They are simple, clean and functional for what I want. I am looking for changes from the previous day, how has Asian news affected these charts, if at all. What about the European open has anything taken hold?\r\n\r\n&nbsp;\r\n\r\nUSD Index (DXY):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017.png\"><img class=\"aligncenter size-large wp-image-9020\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017-1024x431.png\" alt=\"\" width=\"1024\" height=\"431\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above Daily DXY chart has been on one my screens since early December last year. If I miss a tweet from THE DONALD, not to worry the effect is usually seen here most of the time.\r\n\r\nOver the longer-term the DXY has broken higher. Right now, we are moving lower but within this move, the longer-term overall move is making a series of higher lows. This gives me some comfort, as ultimately I am bullish the USD. Since “THE DONALD” was elected we have been moving lower, then higher, than lower again. The level of 100.00 is a key psychological number. Just below we have 99.80, which has acted as support from where we have based and started to move higher once again.\r\n\r\nXAU/USD (GOLD):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9023\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nI look at GOLD as being inverse with the USD currency overall with a high correlation to the CHF. Generally speaking, the correlation with the USD is intact. If you compare the two charts we are following the same route. As the DXY based for say three days the GOLD chart topped for a similar period.\r\n\r\n&nbsp;\r\n\r\nUSOIL (OIL):\r\n\r\nI look at these LEADING INDICATOR charts very quickly first thing to get an overall feel.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017.png\"><img class=\"aligncenter size-large wp-image-9021\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017-1024x432.png\" alt=\"\" width=\"1024\" height=\"432\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nWith regards to OIL. I do not believe a word that comes out of OPEC and in my opinion it will just be a matter of time before the first violator of the production freeze is outed. That aside, $55.00 is the top and I am now looking at $52.46 as the 61.8% retracement to see will that hold or fail. After we have a trend line support and then in my opinion I see a test of $50.00 and then we go lower. The OPEC deal will be dead in the water by this stage, I think they were hoping for almost $70.00, the fact that $55.00 could not be passed must be biting hard.\r\n\r\nThe correlation of OIL to the USD/CAD is off at the moment.\r\n\r\n&nbsp;\r\n\r\nXCU/USD (COPPER):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017.png\"><img class=\"aligncenter size-large wp-image-9019\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017-1024x453.png\" alt=\"\" width=\"1024\" height=\"453\" /></a>\r\n\r\nI get asked many times why Copper?\r\n\r\nVery simple, copper is used in all types of buildings in wiring. It is a great indicator of the building industry. It’s usually bought early, ahead of other commodities and as I have stated many, many times before “IT’S ALL ABOUT COMMODITIES” … the rest follows. We may get “laggers” but the rest follows.\r\n\r\nThe COPPER chart above looks to be a potential bullish wedge breakout. This is one to keep on your radar moving forward.\r\n\r\nCopper and the AUD are linked in my opinion. The Copper chart looks bullish, the AUD/USD is far from it. It is sideways looking more bearish than bullish. With the AUD/USD being linked to copper and as a commodity currency it\'s a great barometer of several markets in my opinion.\r\n\r\n&nbsp;\r\n\r\nUSD/SEK:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9025\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nIn a channel, downwards sloping channel and going sideways. It has been trying to establish a base ahead of 8.7800, which offers great support from October 2016.\r\n\r\nThis pair is extremely USD sensitive and is a superb gauge in my opinion to get sentiment. We are sideways. That says to me clear snow / paint a wall / walk the dogs.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9024\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs we all know, it has been the proxy for OIL. This has uncoupled of late especially as “THE DONALD” has been signing his name over a few pipelines related executive orders.\r\n\r\nI have mixed views here. “THE DONALD” is strengthening the CAD. Poloz at the BOC is looking at rate cuts, which should weaken the currency.\r\n\r\nThe currency pair itself whilst showing weakness over the past two days cannot be trusted. It has been screwing with longs and shorts taking them both out in the same session with extreme moves.\r\n\r\nI do NOT like it when this currency which is renounced for prompting USD moves first cannot be trusted.\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9022\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\nNot comfortable with this pair. It is not following Copper or vice versa and its Antipodean counterpart, the NZD is much stronger at the moment with bolder moves. Whilst I do think that 0.7610 is a great short to sell against. It is with extreme caution and a tight stop given the Copper chart.\r\n\r\n&nbsp;\r\n\r\nSUMMARY:\r\n\r\nAs you can hopefully see using charts to try and gauge the USD direction is also as unclear as the TV pundits. We have in my opinion a lot of mixed messages.\r\n\r\nSo, when I started this article with “fu**ed if I know” … I do not believe that I am alone. If you are looking to blame someone blame “THE DONALD”.\r\n\r\nMost of the market uncertainty is based around the US President. His aggressive stance on trade protectionism is scaring the crap out of some people. I believe the FED’s inflation objective of 2% will be achieved very quickly once increased costs flow through the US economy and FED interest rate hikes will be on time, possibly quarterly.\r\n\r\nThe UK will not be far behind. It is the commodity currencies that will lag in my opinion as factory prices will be held for as long as possible and then this pressure will force commodity prices lower initially followed by stocks. The USD should hit the recent 103.50 highs and then strike towards the 120.00 level from 2001-2002. Now there’s a call!!\r\n\r\nSo longer term you can see where I am coming from. Short-term, it is just chop-chop and more chop-chop.\r\n\r\nUncertainties over the BREXIT and the EUROZONE elections should give some directional trading, but, we live in a “King Dollar” world and directional trading at the moment is mostly in 20 minute chunks.\r\n\r\nTo give you something to hold onto. It was crucial in my opinion for the DXY to hold 99.80. I was thinking we could drift to 99.50. This in itself shows that the USD has value, it would at the moment, be the winner in the less ugly competition for some people because it has a value.\r\n\r\nYou can put lipstick on the EUR, but it is still a pig and its direction given all the headwinds it is facing in my opinion has to be lower. As the EUR accounts for over 50% of the DXY mix of the currency basket this will / should support the USD moving forward.\r\n\r\nI paint a challenging picture in the immediate time frames. That cannot be helped, it is how I see things.\r\n\r\nI am NOT comfortable trading at the moment, but what I will say quite categorically is PLAN YOUR TRADES if you are going to trade and LET THE TRADES COME TO YOUR PRICE… do not jump in all guns blazing.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #125 PREMIUM SERVICE\r\nDATE: 29th January 2017.<strong>\r\n\r\n</strong>','WHERE NEXT FOR THE USD (DXY)?','','inherit','closed','closed','','9033-revision-v1','','','2017-01-28 10:47:48','2017-01-28 15:47:48','',9033,'http://weeklyfxdrivethru.com/9033-revision-v1/',0,'revision','',0),(9035,1,'2017-01-28 11:02:39','2017-01-28 16:02:39','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong><strong> </strong></li>\r\n</ol>\r\nI thought that this week I would be very upbeat on performance and on how January has turned around. Maintaining my honesty with my approach in this blog, I have to say that my analogy last week of “one step forwards…  two steps back”, can be further enhanced this week by saying FFS and WTF.\r\n\r\nI am not a happy trader at the moment. I have allowed some loss (under water) trades to dominate my time, energy and focus. Whilst, fundamentally, I may be trading in the correct direction, this stupid error on my behalf has deflected and distracted me for the whole of last week. I have been focused on losing trades, and letting a few set-ups on charts go by. Elementary errors, and I thought that I had eradicated these from my trading approach… apparently not.\r\n\r\nJust because I have strong fundamental views on particular currencies and geopolitical events, I had jumped in perhaps a little too strong instead of a gradual easing into positions. I have been guilty of trying to pick a series of tops and bottoms, inside a time-line, that has a new and without doubt volatile U.S. President, whose antics are reminiscent of a children’s playground at times.\r\n\r\nMoving on from the pleasantries…\r\n\r\nThe big news items last week involved personalities, Theresa May (UK Prime Minister) and Donald Trump (U.S. President).\r\n\r\nThe supreme court in the UK passed a ruling that the UK Parliament must ratify the decision to BREXIT. Thankfully, it did not give special dispensation to the devolved governments in Northern Ireland, Scotland and Wales. Had this been included in the decision there is no doubt in my mind that the March 31<sup>st</sup> deadline imposed by the Prime Minister to trigger article 50 would not be met. Even now, there is a chance that MP’s who are happy to run the gauntlet against their constituents wishes and maybe vote REMAIN in a “commons” vote, could table some amendments to the bill served on the UK Parliament, all 137 words of it, last Thursday. There is a very tight passage for the bill, including sanction time in the House of Lords for it to return back to the House of Commons in February for a vote. We shall see.\r\n\r\nOn the other side of the pond, \"THE DONALD\" has been signing off executive order after executive order keeping his campaign promises intact.\r\n\r\nTRUMP has amongst a few other things: -\r\n<ul>\r\n 	<li>Had a twitter fight with the Mexican President and called off a state visit. Kissed and apparently made up via a telephone call. But do not mention “the wall”, I mentioned twice last night by the way and I got away with it!!</li>\r\n 	<li>Told the big three domestic car manufactures to build in the USA or face stiff import tariffs.</li>\r\n 	<li>Enraged the greens over pipe-line approvals.</li>\r\n 	<li>Banned immigration to the U.S. from a selection of Middle Eastern and African nations.</li>\r\n 	<li>Banned ALL refugees for 120 days.</li>\r\n 	<li>Went to the Pentagon saying he thinks water-boarding is fine, but then said yer man in charge of this area “Mad Dog” Mattis can overrule him, it’s his decision****.</li>\r\n 	<li>Had a meeting, lunch and held hands with Theresa May (UK Prime Minister) in Washington under the pretense of discussing the framework for a bilateral trade agreement.</li>\r\n 	<li>Abe (Japan, Prime Minister) is not far behind on a trip to Washington to match the UK. He is apparently booked in for a chat next week now that THE DONALD has withdrawn the U.S. from the Trans Pacific Partnership (TPP).</li>\r\n</ul>\r\nAll \"THE DONALD\" needs to complete a great job done in his first week is out China as a currency manipulator!\r\n\r\nPLEASE NOTE FROM ABOVE: **** I cannot let this point go by, it just would not be fair. If THE DONALD is going to rule the Country like a business and delegate authority like he has indicated here, and if this were to be done across the board,\r\n\r\ni.e. He leads with his ideas and his cabinet manage, personally, I think that this is a “Good Thing”.\r\n\r\nI believe in management by delegating actions, it is a proven business win, it allows for confrontation, debate, reconciliation and agreement, and at the same time 100% focus, without diversity from the big picture for a leader. Should this style take hold in Washington, America could reap some big wins.\r\n\r\nYou may not agree on the policy, but things may actually get done. That in itself would be a huge, momentous, massive achievement for a dysfunctional environment that is still spilt by the party divide.  The Democrats have played their hand quite blatantly in the first week; the good of party not the people. The party first, NOT America still prevails, and it is probably deeper now given style and antics of THE DONALD so far.\r\n\r\n(You see I can offer a balanced approach)\r\n\r\n&nbsp;\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nMy webinar last Monday plagued a great deal with software issues that I thought I had mastered in my demo runs. I am hoping that #2 on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n&nbsp;\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-NEWS-28012017.png\"><img class=\"aligncenter size-large wp-image-9007\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-NEWS-28012017-915x1024.png\" alt=\"\" width=\"915\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nBig week coming up culminating with the US Jobs data on Friday.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>BOJ: It will be interesting to read the narrative this time around vis-à-vis the US changes that have taken place. Whilst I strongly suspect that Kuroda (BOJ Governor) will remain dovish and 100% supportive of a weak Yen, the JPY is currently being used as the flight to safety currency given that it is only 0.10% per overnight for institutions in comparison to the CHF which is a 0.75% cost. There could be rhetoric about this as the JPY weakness trade has pulled back significantly from the 118.00 levels seen after TRUMP was elected. Whilst we are hanging around the 115.00 level we have tested the trend lows at 112.50 regularly of late.</li>\r\n 	<li>CAD: The GDP number on Tuesday will be an interesting read to see if any clues can be sought following Poloz’ ill-timed (in my opinion) mention that interest rate cuts were back in the frame once again.\r\n\r\nSince then we have seen the TRUMP pipeline order that has strengthened the CAD somewhat, but the GDP number will be a great tester to look out for moving forward.</li>\r\n 	<li>NZD: Jobs data on Tuesday. Most NZD data of late have been beats. I would prefer the mother of all fails…DIE KIWI DIE!!! As you may guess I am short the NZD currency. Talk about self-inflicted pain!</li>\r\n 	<li>CHINA: Manufacturing PMi data will be a good read. This will spill over into both the AUD and NZD pairs for potential moves.</li>\r\n 	<li>UK: Manufacturing, Construction and Services PMi, Interest Rate, BOE Inflation Report, Monetary Policy Summary and Mark Carney speaks…\r\n\r\nA plethora of UK data and information to absorb, plus we will have the TRUMP / MAY bilateral trade talks to digest. If that is not enough there will be BREXIT progression through the UK parliament to consider as well.\r\n\r\nThere is a lot of data. Carney’s words and BREXIT will, in my opinion dominate. The market may be looking for inflation hints and ideas on interest rate increases. Quite frankly, I think that Carney would do nada, even if he had inflation at 3%. But that is just my opinion.</li>\r\n 	<li>RBA: Monetary Policy Statement. I believe in the Central banks so I will read this one from Dr. Lowe with interest.</li>\r\n 	<li>USD: Jobs data, the FOMC Policy statement, Consumer Confidence, ISM PMi data and “THE DONALD”.\r\n\r\nThis will be an interesting week stateside. Janet Yellen, can’t really do too much at the moment given the fact the policies from TRUMP so far are just impressive signatures on a series of Executive orders. The US data is improving and I am certain that should “THE DONALD” focus on infrastructure spending and Tax Reform these will be sufficient to have Yellen attempt to turn HAWKISH. Frankly, I do not think that she has it in her to go HAWKISH, once a DOVE always a DOVE in my opinion. If she treasures her job she’ll go HAWKISH good style and be ahead of the curve. Otherwise in my opinion TRUMP will have her out, quicker than wife Melania can say “Baron, pass me the HP sauce”.\r\n\r\nMost of the time next week, we will be waiting on “THE DONALD” to fill up our otherwise boring, dreary existences!</li>\r\n</ol>\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.\r\n\r\n&nbsp;\r\n\r\nThere is so much uncertainty surrounding “THE DONALD”, THE BREXIT and THE EUROZONE it is a day to day existence in my world, which I hate. I much prefer a steady directional move in place even with pullbacks and the like involved. Right now, we leap one way then the other on news items rather than policy. This is not good for the markets or its participants.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/TCHART-28012017.png\"><img class=\"aligncenter size-large wp-image-9008\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/TCHART-28012017-1024x809.png\" alt=\"\" width=\"1024\" height=\"809\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9013\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9014\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9012\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9015\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9016\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9017\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017.png\"><img class=\"aligncenter size-large wp-image-9018\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE USD (DXY)?</strong></p>\r\nThis will be a very short article…\r\n\r\n“It’s anyone’s guess, fu**ed if I know”.\r\n\r\nHave a great week trading and good luck!\r\n\r\nSo, there ya go….\r\n\r\n&nbsp;\r\n\r\nAs a fundamental trader, and someone who prefers to take a longer-term time horizon with trading, this market is difficult for me at the moment.\r\n\r\nI, like most of you, will listen to and watch the likes of BLOOMBERG and CNBC and take note of what the expert analysts say. The problem as I see it is, these guys have no clue either in the short-term other than say that it will be volatile. With their so-called “picks”, I would have to say that quite frankly my 5 year Labrador Ozzy would be just as accurate. Like most of the analyst’s, Ozzy has “no skin” in the game either.\r\n\r\nLet’s face facts they all (analysts) got it wrong on how the markets would react to a TRUMP Presidency and they have in my opinion shown the same consistency since.\r\n\r\nThe simple facts are: -\r\n<ul>\r\n 	<li>The GBP has reacted to the BREXIT news.</li>\r\n 	<li>The JPY rallied and then pulled back.</li>\r\n 	<li>The MXN has been up and down like a stripper on a greasy pole ever since TRUMP was elected.</li>\r\n 	<li>We are just in a sideways range, with the odd spike here and there.</li>\r\n</ul>\r\nLong term I feel comfortable with my directional core position trades. However, apart from watching the “chop-chop” everyday what clues am I looking at, and what am I looking for?\r\n\r\nI have written over the past few years in this blog about about CORRELATIONS, LEAD INDICATORS and ALIGNMENTS. Trading Forex is repetitive and for the most part boring. It is the same old, same old day after day.\r\n\r\nMy wife and I love our two dogs Ozzy and Aoife (Black Labradors, brother and sister), I often joke about how much of their lives are spent waiting. An hour before feeding time in the morning and the evening they are like coiled cobras waiting to pounce. They are stressing out about food; “I need it now”. They wait in the sitting up position staring at you trying to brainwash you to feed them early. You put them out in the gardens to do “wee’s and poo’s, they come back to the door and wait. Every day the same routines are repeated over and over.\r\n\r\nMy point is, my existence at the moment, is very similar to my dogs, in the sense that I am waiting and staring for hours on end at my computer screens for something meaningful to happen.\r\n\r\nMoving back to my point…\r\n\r\nMy LEAD INDICATORS are where I am spending most of my time looking for ideas, alignments and correlations as well as some inspiration. My LEAD INDICATORS are: -\r\n\r\n<strong>DXY, OIL, GOLD, COPPER, USD/SEK, USD/CAD and AUD/USD.</strong>\r\n\r\nMy routine is as follows; I scan all seven charts each time before I start trading. I also look at US 30 year treasuries and the S&amp;P on most occasions.\r\n\r\nI use the daily charts just to see alignments and correlations. These give me directional trading confidence. At the moment, some correlations are off and alignments are not at 100%.\r\n\r\nNow let’s get this straight. This is not analysis paralysis. As you will see from the charts below, I am getting a flavour, of course if I want to dig deeper I can and I do. But in real terms I am usually drinking my first coffee of the day as I look though these charts. These charts are basic, clear, very little on them. They are simple, clean and functional for what I want. I am looking for changes from the previous day, how has Asian news affected these charts, if at all. What about the European open has anything taken hold?\r\n\r\n&nbsp;\r\n\r\nUSD Index (DXY):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017.png\"><img class=\"aligncenter size-large wp-image-9020\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017-1024x431.png\" alt=\"\" width=\"1024\" height=\"431\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above Daily DXY chart has been on one my screens since early December last year. If I miss a tweet from THE DONALD, not to worry the effect is usually seen here most of the time.\r\n\r\nOver the longer-term the DXY has broken higher. Right now, we are moving lower but within this move, the longer-term overall move is making a series of higher lows. This gives me some comfort, as ultimately I am bullish the USD. Since “THE DONALD” was elected we have been moving lower, then higher, than lower again. The level of 100.00 is a key psychological number. Just below we have 99.80, which has acted as support from where we have based and started to move higher once again.\r\n\r\n&nbsp;\r\n\r\nXAU/USD (GOLD):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9023\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\nI look at GOLD as being inverse with the USD currency overall with a high correlation to the CHF. Generally speaking, the correlation with the USD is intact. If you compare the two charts we are following the same route. As the DXY based for say three days the GOLD chart topped for a similar period.\r\n\r\n&nbsp;\r\n\r\nUSOIL (OIL):\r\n\r\nI look at these LEADING INDICATOR charts very quickly first thing to get an overall feel.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017.png\"><img class=\"aligncenter size-large wp-image-9021\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017-1024x432.png\" alt=\"\" width=\"1024\" height=\"432\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nWith regards to OIL. I do not believe a word that comes out of OPEC and in my opinion it will just be a matter of time before the first violator of the production freeze is outed. That aside, $55.00 is the top and I am now looking at $52.46 as the 61.8% retracement to see will that hold or fail. After we have a trend line support and then in my opinion I see a test of $50.00 and then we go lower. The OPEC deal will be dead in the water by this stage, I think they were hoping for almost $70.00, the fact that $55.00 could not be passed must be biting hard.\r\n\r\nThe correlation of OIL to the USD/CAD is off at the moment.\r\n\r\n&nbsp;\r\n\r\nXCU/USD (COPPER):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017.png\"><img class=\"aligncenter size-large wp-image-9019\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017-1024x453.png\" alt=\"\" width=\"1024\" height=\"453\" /></a>\r\n\r\nI get asked many times why Copper?\r\n\r\nVery simple, copper is used in all types of buildings in wiring. It is a great indicator of the building industry. It’s usually bought early, ahead of other commodities and as I have stated many, many times before “IT’S ALL ABOUT COMMODITIES” … the rest follows. We may get “laggers” but the rest follows.\r\n\r\nThe COPPER chart above looks to be a potential bullish wedge breakout. This is one to keep on your radar moving forward.\r\n\r\nCopper and the AUD are linked in my opinion. The Copper chart looks bullish, the AUD/USD is far from it. It is sideways looking more bearish than bullish. With the AUD/USD being linked to copper and as a commodity currency it\'s a great barometer of several markets in my opinion.\r\n\r\n&nbsp;\r\n\r\nUSD/SEK:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9025\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nIn a channel, downwards sloping channel and going sideways. It has been trying to establish a base ahead of 8.7800, which offers great support from October 2016.\r\n\r\nThis pair is extremely USD sensitive and is a superb gauge in my opinion to get sentiment. We are sideways. That says to me clear snow / paint a wall / walk the dogs.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9024\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAs we all know, it has been the proxy for OIL. This has uncoupled of late especially as “THE DONALD” has been signing his name over a few pipelines related executive orders.\r\n\r\nI have mixed views here. “THE DONALD” is strengthening the CAD. Poloz at the BOC is looking at rate cuts, which should weaken the currency.\r\n\r\nThe currency pair itself whilst showing weakness over the past two days cannot be trusted. It has been screwing with longs and shorts taking them both out in the same session with extreme moves.\r\n\r\nI do NOT like it when this currency which is renounced for prompting USD moves first cannot be trusted.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9022\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNot comfortable with this pair. It is not following Copper or vice versa and its Antipodean counterpart, the NZD is much stronger at the moment with bolder moves. Whilst I do think that 0.7610 is a great short to sell against. It is with extreme caution and a tight stop given the Copper chart.\r\n\r\n&nbsp;\r\n\r\nSUMMARY:\r\n\r\nAs you can hopefully see using charts to try and gauge the USD direction is also as unclear as the TV pundits. We have in my opinion a lot of mixed messages.\r\n\r\nSo, when I started this article with “fu**ed if I know” … I do not believe that I am alone. If you are looking to blame someone blame “THE DONALD”.\r\n\r\nMost of the market uncertainty is based around the US President. His aggressive stance on trade protectionism is scaring the crap out of some people. I believe the FED’s inflation objective of 2% will be achieved very quickly once increased costs flow through the US economy and FED interest rate hikes will be on time, possibly quarterly.\r\n\r\nThe UK will not be far behind. It is the commodity currencies that will lag in my opinion as factory prices will be held for as long as possible and then this pressure will force commodity prices lower initially followed by stocks. The USD should hit the recent 103.50 highs and then strike towards the 120.00 level from 2001-2002. Now there’s a call!!\r\n\r\nSo longer term you can see where I am coming from. Short-term, it is just chop-chop and more chop-chop.\r\n\r\nUncertainties over the BREXIT and the EUROZONE elections should give some directional trading, but, we live in a “King Dollar” world and directional trading at the moment is mostly in 20 minute chunks.\r\n\r\nTo give you something to hold onto. It was crucial in my opinion for the DXY to hold 99.80. I was thinking we could drift to 99.50. This in itself shows that the USD has value, it would at the moment, be the winner in the less ugly competition for some people because it has a value.\r\n\r\nYou can put lipstick on the EUR, but it is still a pig and its direction given all the headwinds it is facing in my opinion has to be lower. As the EUR accounts for over 50% of the DXY mix of the currency basket this will / should support the USD moving forward.\r\n\r\nI paint a challenging picture in the immediate time frames. That cannot be helped, it is how I see things.\r\n\r\nI am NOT comfortable trading at the moment, but what I will say quite categorically is PLAN YOUR TRADES if you are going to trade and LET THE TRADES COME TO YOUR PRICE… do not jump in all guns blazing.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #FREE NEWSLETTER\r\nDATE: 29th January 2017.<strong>\r\n\r\n\r\n</strong>','WHERE NEXT FOR THE USD (DXY)?','','publish','open','closed','','next-usd-dxy','','','2017-01-28 11:02:39','2017-01-28 16:02:39','',0,'http://weeklyfxdrivethru.com/?p=9035',0,'post','',0),(9036,1,'2017-01-28 11:02:39','2017-01-28 16:02:39','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong><strong> </strong></li>\r\n</ol>\r\nI thought that this week I would be very upbeat on performance and on how January has turned around. Maintaining my honesty with my approach in this blog, I have to say that my analogy last week of “one step forwards…  two steps back”, can be further enhanced this week by saying FFS and WTF.\r\n\r\nI am not a happy trader at the moment. I have allowed some loss (under water) trades to dominate my time, energy and focus. Whilst, fundamentally, I may be trading in the correct direction, this stupid error on my behalf has deflected and distracted me for the whole of last week. I have been focused on losing trades, and letting a few set-ups on charts go by. Elementary errors, and I thought that I had eradicated these from my trading approach… apparently not.\r\n\r\nJust because I have strong fundamental views on particular currencies and geopolitical events, I had jumped in perhaps a little too strong instead of a gradual easing into positions. I have been guilty of trying to pick a series of tops and bottoms, inside a time-line, that has a new and without doubt volatile U.S. President, whose antics are reminiscent of a children’s playground at times.\r\n\r\nMoving on from the pleasantries…\r\n\r\nThe big news items last week involved personalities, Theresa May (UK Prime Minister) and Donald Trump (U.S. President).\r\n\r\nThe supreme court in the UK passed a ruling that the UK Parliament must ratify the decision to BREXIT. Thankfully, it did not give special dispensation to the devolved governments in Northern Ireland, Scotland and Wales. Had this been included in the decision there is no doubt in my mind that the March 31<sup>st</sup> deadline imposed by the Prime Minister to trigger article 50 would not be met. Even now, there is a chance that MP’s who are happy to run the gauntlet against their constituents wishes and maybe vote REMAIN in a “commons” vote, could table some amendments to the bill served on the UK Parliament, all 137 words of it, last Thursday. There is a very tight passage for the bill, including sanction time in the House of Lords for it to return back to the House of Commons in February for a vote. We shall see.\r\n\r\nOn the other side of the pond, \"THE DONALD\" has been signing off executive order after executive order keeping his campaign promises intact.\r\n\r\nTRUMP has amongst a few other things: -\r\n<ul>\r\n 	<li>Had a twitter fight with the Mexican President and called off a state visit. Kissed and apparently made up via a telephone call. But do not mention “the wall”, I mentioned twice last night by the way and I got away with it!!</li>\r\n 	<li>Told the big three domestic car manufactures to build in the USA or face stiff import tariffs.</li>\r\n 	<li>Enraged the greens over pipe-line approvals.</li>\r\n 	<li>Banned immigration to the U.S. from a selection of Middle Eastern and African nations.</li>\r\n 	<li>Banned ALL refugees for 120 days.</li>\r\n 	<li>Went to the Pentagon saying he thinks water-boarding is fine, but then said yer man in charge of this area “Mad Dog” Mattis can overrule him, it’s his decision****.</li>\r\n 	<li>Had a meeting, lunch and held hands with Theresa May (UK Prime Minister) in Washington under the pretense of discussing the framework for a bilateral trade agreement.</li>\r\n 	<li>Abe (Japan, Prime Minister) is not far behind on a trip to Washington to match the UK. He is apparently booked in for a chat next week now that THE DONALD has withdrawn the U.S. from the Trans Pacific Partnership (TPP).</li>\r\n</ul>\r\nAll \"THE DONALD\" needs to complete a great job done in his first week is out China as a currency manipulator!\r\n\r\nPLEASE NOTE FROM ABOVE: **** I cannot let this point go by, it just would not be fair. If THE DONALD is going to rule the Country like a business and delegate authority like he has indicated here, and if this were to be done across the board,\r\n\r\ni.e. He leads with his ideas and his cabinet manage, personally, I think that this is a “Good Thing”.\r\n\r\nI believe in management by delegating actions, it is a proven business win, it allows for confrontation, debate, reconciliation and agreement, and at the same time 100% focus, without diversity from the big picture for a leader. Should this style take hold in Washington, America could reap some big wins.\r\n\r\nYou may not agree on the policy, but things may actually get done. That in itself would be a huge, momentous, massive achievement for a dysfunctional environment that is still spilt by the party divide.  The Democrats have played their hand quite blatantly in the first week; the good of party not the people. The party first, NOT America still prevails, and it is probably deeper now given style and antics of THE DONALD so far.\r\n\r\n(You see I can offer a balanced approach)\r\n\r\n&nbsp;\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nMy webinar last Monday plagued a great deal with software issues that I thought I had mastered in my demo runs. I am hoping that #2 on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n&nbsp;\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-NEWS-28012017.png\"><img class=\"aligncenter size-large wp-image-9007\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-NEWS-28012017-915x1024.png\" alt=\"\" width=\"915\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nBig week coming up culminating with the US Jobs data on Friday.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>BOJ: It will be interesting to read the narrative this time around vis-à-vis the US changes that have taken place. Whilst I strongly suspect that Kuroda (BOJ Governor) will remain dovish and 100% supportive of a weak Yen, the JPY is currently being used as the flight to safety currency given that it is only 0.10% per overnight for institutions in comparison to the CHF which is a 0.75% cost. There could be rhetoric about this as the JPY weakness trade has pulled back significantly from the 118.00 levels seen after TRUMP was elected. Whilst we are hanging around the 115.00 level we have tested the trend lows at 112.50 regularly of late.</li>\r\n 	<li>CAD: The GDP number on Tuesday will be an interesting read to see if any clues can be sought following Poloz’ ill-timed (in my opinion) mention that interest rate cuts were back in the frame once again.\r\n\r\nSince then we have seen the TRUMP pipeline order that has strengthened the CAD somewhat, but the GDP number will be a great tester to look out for moving forward.</li>\r\n 	<li>NZD: Jobs data on Tuesday. Most NZD data of late have been beats. I would prefer the mother of all fails…DIE KIWI DIE!!! As you may guess I am short the NZD currency. Talk about self-inflicted pain!</li>\r\n 	<li>CHINA: Manufacturing PMi data will be a good read. This will spill over into both the AUD and NZD pairs for potential moves.</li>\r\n 	<li>UK: Manufacturing, Construction and Services PMi, Interest Rate, BOE Inflation Report, Monetary Policy Summary and Mark Carney speaks…\r\n\r\nA plethora of UK data and information to absorb, plus we will have the TRUMP / MAY bilateral trade talks to digest. If that is not enough there will be BREXIT progression through the UK parliament to consider as well.\r\n\r\nThere is a lot of data. Carney’s words and BREXIT will, in my opinion dominate. The market may be looking for inflation hints and ideas on interest rate increases. Quite frankly, I think that Carney would do nada, even if he had inflation at 3%. But that is just my opinion.</li>\r\n 	<li>RBA: Monetary Policy Statement. I believe in the Central banks so I will read this one from Dr. Lowe with interest.</li>\r\n 	<li>USD: Jobs data, the FOMC Policy statement, Consumer Confidence, ISM PMi data and “THE DONALD”.\r\n\r\nThis will be an interesting week stateside. Janet Yellen, can’t really do too much at the moment given the fact the policies from TRUMP so far are just impressive signatures on a series of Executive orders. The US data is improving and I am certain that should “THE DONALD” focus on infrastructure spending and Tax Reform these will be sufficient to have Yellen attempt to turn HAWKISH. Frankly, I do not think that she has it in her to go HAWKISH, once a DOVE always a DOVE in my opinion. If she treasures her job she’ll go HAWKISH good style and be ahead of the curve. Otherwise in my opinion TRUMP will have her out, quicker than wife Melania can say “Baron, pass me the HP sauce”.\r\n\r\nMost of the time next week, we will be waiting on “THE DONALD” to fill up our otherwise boring, dreary existences!</li>\r\n</ol>\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.\r\n\r\n&nbsp;\r\n\r\nThere is so much uncertainty surrounding “THE DONALD”, THE BREXIT and THE EUROZONE it is a day to day existence in my world, which I hate. I much prefer a steady directional move in place even with pullbacks and the like involved. Right now, we leap one way then the other on news items rather than policy. This is not good for the markets or its participants.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/TCHART-28012017.png\"><img class=\"aligncenter size-large wp-image-9008\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/TCHART-28012017-1024x809.png\" alt=\"\" width=\"1024\" height=\"809\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9013\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9014\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9012\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9015\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9016\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9017\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017.png\"><img class=\"aligncenter size-large wp-image-9018\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE USD (DXY)?</strong></p>\r\nThis will be a very short article…\r\n\r\n“It’s anyone’s guess, fu**ed if I know”.\r\n\r\nHave a great week trading and good luck!\r\n\r\nSo, there ya go….\r\n\r\n&nbsp;\r\n\r\nAs a fundamental trader, and someone who prefers to take a longer-term time horizon with trading, this market is difficult for me at the moment.\r\n\r\nI, like most of you, will listen to and watch the likes of BLOOMBERG and CNBC and take note of what the expert analysts say. The problem as I see it is, these guys have no clue either in the short-term other than say that it will be volatile. With their so-called “picks”, I would have to say that quite frankly my 5 year Labrador Ozzy would be just as accurate. Like most of the analyst’s, Ozzy has “no skin” in the game either.\r\n\r\nLet’s face facts they all (analysts) got it wrong on how the markets would react to a TRUMP Presidency and they have in my opinion shown the same consistency since.\r\n\r\nThe simple facts are: -\r\n<ul>\r\n 	<li>The GBP has reacted to the BREXIT news.</li>\r\n 	<li>The JPY rallied and then pulled back.</li>\r\n 	<li>The MXN has been up and down like a stripper on a greasy pole ever since TRUMP was elected.</li>\r\n 	<li>We are just in a sideways range, with the odd spike here and there.</li>\r\n</ul>\r\nLong term I feel comfortable with my directional core position trades. However, apart from watching the “chop-chop” everyday what clues am I looking at, and what am I looking for?\r\n\r\nI have written over the past few years in this blog about about CORRELATIONS, LEAD INDICATORS and ALIGNMENTS. Trading Forex is repetitive and for the most part boring. It is the same old, same old day after day.\r\n\r\nMy wife and I love our two dogs Ozzy and Aoife (Black Labradors, brother and sister), I often joke about how much of their lives are spent waiting. An hour before feeding time in the morning and the evening they are like coiled cobras waiting to pounce. They are stressing out about food; “I need it now”. They wait in the sitting up position staring at you trying to brainwash you to feed them early. You put them out in the gardens to do “wee’s and poo’s, they come back to the door and wait. Every day the same routines are repeated over and over.\r\n\r\nMy point is, my existence at the moment, is very similar to my dogs, in the sense that I am waiting and staring for hours on end at my computer screens for something meaningful to happen.\r\n\r\nMoving back to my point…\r\n\r\nMy LEAD INDICATORS are where I am spending most of my time looking for ideas, alignments and correlations as well as some inspiration. My LEAD INDICATORS are: -\r\n\r\n<strong>DXY, OIL, GOLD, COPPER, USD/SEK, USD/CAD and AUD/USD.</strong>\r\n\r\nMy routine is as follows; I scan all seven charts each time before I start trading. I also look at US 30 year treasuries and the S&amp;P on most occasions.\r\n\r\nI use the daily charts just to see alignments and correlations. These give me directional trading confidence. At the moment, some correlations are off and alignments are not at 100%.\r\n\r\nNow let’s get this straight. This is not analysis paralysis. As you will see from the charts below, I am getting a flavour, of course if I want to dig deeper I can and I do. But in real terms I am usually drinking my first coffee of the day as I look though these charts. These charts are basic, clear, very little on them. They are simple, clean and functional for what I want. I am looking for changes from the previous day, how has Asian news affected these charts, if at all. What about the European open has anything taken hold?\r\n\r\n&nbsp;\r\n\r\nUSD Index (DXY):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017.png\"><img class=\"aligncenter size-large wp-image-9020\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017-1024x431.png\" alt=\"\" width=\"1024\" height=\"431\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above Daily DXY chart has been on one my screens since early December last year. If I miss a tweet from THE DONALD, not to worry the effect is usually seen here most of the time.\r\n\r\nOver the longer-term the DXY has broken higher. Right now, we are moving lower but within this move, the longer-term overall move is making a series of higher lows. This gives me some comfort, as ultimately I am bullish the USD. Since “THE DONALD” was elected we have been moving lower, then higher, than lower again. The level of 100.00 is a key psychological number. Just below we have 99.80, which has acted as support from where we have based and started to move higher once again.\r\n\r\n&nbsp;\r\n\r\nXAU/USD (GOLD):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9023\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\nI look at GOLD as being inverse with the USD currency overall with a high correlation to the CHF. Generally speaking, the correlation with the USD is intact. If you compare the two charts we are following the same route. As the DXY based for say three days the GOLD chart topped for a similar period.\r\n\r\n&nbsp;\r\n\r\nUSOIL (OIL):\r\n\r\nI look at these LEADING INDICATOR charts very quickly first thing to get an overall feel.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017.png\"><img class=\"aligncenter size-large wp-image-9021\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017-1024x432.png\" alt=\"\" width=\"1024\" height=\"432\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nWith regards to OIL. I do not believe a word that comes out of OPEC and in my opinion it will just be a matter of time before the first violator of the production freeze is outed. That aside, $55.00 is the top and I am now looking at $52.46 as the 61.8% retracement to see will that hold or fail. After we have a trend line support and then in my opinion I see a test of $50.00 and then we go lower. The OPEC deal will be dead in the water by this stage, I think they were hoping for almost $70.00, the fact that $55.00 could not be passed must be biting hard.\r\n\r\nThe correlation of OIL to the USD/CAD is off at the moment.\r\n\r\n&nbsp;\r\n\r\nXCU/USD (COPPER):\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017.png\"><img class=\"aligncenter size-large wp-image-9019\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017-1024x453.png\" alt=\"\" width=\"1024\" height=\"453\" /></a>\r\n\r\nI get asked many times why Copper?\r\n\r\nVery simple, copper is used in all types of buildings in wiring. It is a great indicator of the building industry. It’s usually bought early, ahead of other commodities and as I have stated many, many times before “IT’S ALL ABOUT COMMODITIES” … the rest follows. We may get “laggers” but the rest follows.\r\n\r\nThe COPPER chart above looks to be a potential bullish wedge breakout. This is one to keep on your radar moving forward.\r\n\r\nCopper and the AUD are linked in my opinion. The Copper chart looks bullish, the AUD/USD is far from it. It is sideways looking more bearish than bullish. With the AUD/USD being linked to copper and as a commodity currency it\'s a great barometer of several markets in my opinion.\r\n\r\n&nbsp;\r\n\r\nUSD/SEK:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9025\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nIn a channel, downwards sloping channel and going sideways. It has been trying to establish a base ahead of 8.7800, which offers great support from October 2016.\r\n\r\nThis pair is extremely USD sensitive and is a superb gauge in my opinion to get sentiment. We are sideways. That says to me clear snow / paint a wall / walk the dogs.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9024\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAs we all know, it has been the proxy for OIL. This has uncoupled of late especially as “THE DONALD” has been signing his name over a few pipelines related executive orders.\r\n\r\nI have mixed views here. “THE DONALD” is strengthening the CAD. Poloz at the BOC is looking at rate cuts, which should weaken the currency.\r\n\r\nThe currency pair itself whilst showing weakness over the past two days cannot be trusted. It has been screwing with longs and shorts taking them both out in the same session with extreme moves.\r\n\r\nI do NOT like it when this currency which is renounced for prompting USD moves first cannot be trusted.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017.png\"><img class=\"aligncenter size-large wp-image-9022\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNot comfortable with this pair. It is not following Copper or vice versa and its Antipodean counterpart, the NZD is much stronger at the moment with bolder moves. Whilst I do think that 0.7610 is a great short to sell against. It is with extreme caution and a tight stop given the Copper chart.\r\n\r\n&nbsp;\r\n\r\nSUMMARY:\r\n\r\nAs you can hopefully see using charts to try and gauge the USD direction is also as unclear as the TV pundits. We have in my opinion a lot of mixed messages.\r\n\r\nSo, when I started this article with “fu**ed if I know” … I do not believe that I am alone. If you are looking to blame someone blame “THE DONALD”.\r\n\r\nMost of the market uncertainty is based around the US President. His aggressive stance on trade protectionism is scaring the crap out of some people. I believe the FED’s inflation objective of 2% will be achieved very quickly once increased costs flow through the US economy and FED interest rate hikes will be on time, possibly quarterly.\r\n\r\nThe UK will not be far behind. It is the commodity currencies that will lag in my opinion as factory prices will be held for as long as possible and then this pressure will force commodity prices lower initially followed by stocks. The USD should hit the recent 103.50 highs and then strike towards the 120.00 level from 2001-2002. Now there’s a call!!\r\n\r\nSo longer term you can see where I am coming from. Short-term, it is just chop-chop and more chop-chop.\r\n\r\nUncertainties over the BREXIT and the EUROZONE elections should give some directional trading, but, we live in a “King Dollar” world and directional trading at the moment is mostly in 20 minute chunks.\r\n\r\nTo give you something to hold onto. It was crucial in my opinion for the DXY to hold 99.80. I was thinking we could drift to 99.50. This in itself shows that the USD has value, it would at the moment, be the winner in the less ugly competition for some people because it has a value.\r\n\r\nYou can put lipstick on the EUR, but it is still a pig and its direction given all the headwinds it is facing in my opinion has to be lower. As the EUR accounts for over 50% of the DXY mix of the currency basket this will / should support the USD moving forward.\r\n\r\nI paint a challenging picture in the immediate time frames. That cannot be helped, it is how I see things.\r\n\r\nI am NOT comfortable trading at the moment, but what I will say quite categorically is PLAN YOUR TRADES if you are going to trade and LET THE TRADES COME TO YOUR PRICE… do not jump in all guns blazing.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #FREE NEWSLETTER\r\nDATE: 29th January 2017.<strong>\r\n\r\n\r\n</strong>','WHERE NEXT FOR THE USD (DXY)?','','inherit','closed','closed','','9035-revision-v1','','','2017-01-28 11:02:39','2017-01-28 16:02:39','',9035,'http://weeklyfxdrivethru.com/9035-revision-v1/',0,'revision','',0),(9385,1,'2017-04-08 05:26:08','2017-04-08 10:26:08','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAt the outset of last week, I wrote to subscribers basically saying that new trades would be minimal because of the fact there was such a larger number of high beta economic data releases on the calendar. I saw last week as a week in which to take RISK off the table and bank both pips and $$$.\r\n\r\nI held back on adding numerous trades and in fact I added 4 new LIMIT ORDERS based on some USD weakness, which I thought would be the “play” ahead of and into the release of the NFP data. None of these new limit orders triggered and they are still lying there, but I did throughout the week reduce RISK and remove a few trades. It was a slow week for me regarding activity but the PREMIUM SERVICE banked a positive +358 pips in the first week of April 2017. Therefore, I am of course very happy\r\n\r\nThe week was plagued by geopolitical news, the dreadful nerve gas attack in Syria, the missile launch by “THE DONALD”, the knock-on effect of this action on the North Korean situation and the on-going relationship between the US and Russia.\r\n\r\nMoving on…\r\n\r\nThe US job numbers always dominate the news for the week in which they are released. ADP were great numbers; the prior month’s data was re-calculated by about 50,000 jobs but the numbers came in strong. The government NFP data missed by about 80,000 jobs but the unemployment rate lowered to 4.5%.\r\n\r\nA big miss, the USD sold off and then strengthened. The trades that I covered ahead of NFP and banked pips and $$$ on, all USD long trades, would have generated 100% more pips 10 minutes after poor job numbers… go figure. As the day progressed, the USD strengthened moving about 60 points on the day. 60 DXY points is a big move.\r\n\r\nI am coming around more and more each month to the viewpoint of the majority of my “peer group” of traders, which is, ignore NFP day, do not add trades and let the day play out. There is a lot to be said for this approach. The chop fest of NFP can be very painful.\r\n\r\nThe FOMC minutes were hawkish and the USD sold off… go figure? We have a situation I think where the markets DO NOT believe the FED rhetoric.\r\n\r\nOther news last week…\r\n\r\nThe UK missed on Manufacturing and Construction PMI but beat the Services PMi. At the end of the week, cable is still weaker. All these traders trying to pick bottoms, only have smelly fingers. I still maintain that with the uncertainty ahead with BREXIT it is foolish to say downside moves have been baked into the GBP/USD price structure.\r\n\r\nSmell the coffee… BREXIT will take years to negotiate and the negotiations have NOT yet started. For God’s sake, this desire to say I picked the bottom is childish. There will be many twists and turns ahead with the odd spike and sell-off. GBP/USD is moving lower.\r\n\r\nDraghi spelled it out in no uncertain terms for the markets eager once again to believe the bottom is in for the EUR/USD.\r\n\r\nThe market makers have the attention span of a one year old child, long may this continue, this inability to remember what they were told gives us buying the dips and selling the rips opportunities.\r\n\r\nThe RBA has not confirmed the target level of 0.6500 for fair value AUD/USD, I think it was the level muted by the NAB, but the bottom line is that the AUD is moving lower whether it be on AUD data or Chinese data.\r\n\r\nWe have some great opportunities lining up, my only caveat is that the heightened geopolitical event risk many skew things a little. Nevertheless, there is light at the end of the tunnel.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#9 this Monday 10th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nCongratulations to <a href=\"mailto:mike*******@***.com\">mike*******@***.com</a>\r\n\r\nMike is this month’s winner of a FREE PREMIUM SERVICE subscription. I should have done the draw last week… my bad. By the time this blog is posted mike should be all set up.\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017.png\"><img class=\"aligncenter size-large wp-image-9363\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017-1024x826.png\" alt=\"\" width=\"1024\" height=\"826\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA busy week coming up but I think that geopolitical news will dominate proceedings: -\r\n<ol>\r\n 	<li>CAD: The BOC meets on Wednesday and holds a press conference after the 10:00AM rate announcement at 11:15AM EST.\r\n\r\nI am not expecting anything new from this rate decision. Yes, there are housing bubbles in Vancouver and Toronto, but I think that rate cuts now will fuel these bubbles and that is the last thing that Stephen Poloz, BOC Governor would want.\r\n\r\nThe commentary however, should be interesting.</li>\r\n 	<li>USD: We have Consumer Sentiment data on Thursday, and that is the pick of the US data releases for me.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017.png\"><img class=\"aligncenter size-large wp-image-9364\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +358 pips\r\nYEAR TO DATE:      +1,851 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n\r\n&nbsp;\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI said at the outset of last week that I was looking to remove RISK, bank $$$ and add pips to the annual total. As far as I am concerned I traded my plan.\r\n\r\nComing up now, I have a few questions: -\r\n<ol>\r\n 	<li>The geopolitical news and the associated event risk does worry me a little. However, as I am a USD bull, the currency flight to safety trade should still be the USD. Of course, in periods of great uncertainty refuge is also sought with the JPY and CHF as well as GOLD.\r\n\r\nOnly the CHF trades will give me cause for concern as in periods of great uncertainty the flight to safety trade usually disconnects the inverse relationship between the USD/CHF and EUR/USD.</li>\r\n 	<li>I want as you know to be short EUR/JPY and coupled with EUROZONE headwinds this is a double whammy for this pair. Look out for trade set ups.</li>\r\n 	<li>China, North Korea, Russia, BREXIT and EUROZONE, this is some list of geopolitical possibilities to digest.</li>\r\n</ol>\r\nYou can guarantee that I will NOT RISK my money and therefore your money with any foolhardy trade set ups taking a 30-minute view on matters. I will look for value entries as usual. Should I have a 30-minute view, it will be identifiable as a FLASH or RADAR TRADE.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>EUR/USD and USD/CHF: - I have reduced RISK. I am looking to add back at previous resistance levels this week.</li>\r\n 	<li>GBP/USD: - Nothing has really changed in my opinion, whilst I have removed a little RISK I am still looking for value to add again.\r\n\r\nThere will be some great GBP long trades in the next 12 months. There will be greater opportunities long GBP than maybe those that remain on the short side.\r\n\r\nA50 now triggered and the timeline for the BREXIT is now in play.\r\n\r\nAs I have stated on several occasions, very few people mention capital outflows out of the UK, these could be huge and are critical. This will start to bite sooner rather than later as the financial institutions start to make plans on their new structures inside a freshly shaped EUROPEAN UNION.</li>\r\n 	<li>EUR/GBP: - Nothing has changed for me with this pair.\r\n\r\nI am still somewhat nervous being short, but believe the EUROZONE risks outweigh those of the UK moving forward. My thoughts are that both the EUR &amp; GBP will start to react together moving forward with BREXIT issues and the EUR/GBP will be caught in the crossfire.</li>\r\n</ol>\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-09042017.png\"><img class=\"aligncenter size-large wp-image-9366\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-09042017-891x1024.png\" alt=\"\" width=\"891\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-09042017.png\"><img class=\"aligncenter size-large wp-image-9365\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-09042017-740x1024.png\" alt=\"\" width=\"740\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>MY PROCESS (OF TRADING)</strong>\r\n\r\nWhere to start.\r\n\r\nSeveral weeks ago, I mentioned in the blog that I had received a few questions about my process in trade selection. I stated that I would come back to this sometime in the future. That future time is now.\r\n\r\nThere is no better time in my opinion than when geopolitical events risks are high to review your trade selection process.\r\n\r\nMy PROCESS: This is NOT analysis paralysis. This is RISK MANAGEMENT in action.\r\n\r\nIf you attend or watch on You Tube the WEEKLY FX DRIVE THRU – LIVE webinar, you will know that I have a core selection of LEAD INDICATORS that I will always look at first. However, as I have stated on so many occasions, in the FX market CORRELATIONS DO MATTER and I believe these should be looked at for verification and trade confidence.\r\n\r\nOne further parameter I look at that is not on these charts is a currency pairs overall trend / direction. Are the Daily, Weekly and Monthly charts all moving in the same direction? It is often said that “the trend is your friend”. I look at trend as well.\r\n\r\nThis week, I am not writing much; all my comments will be on the charts. I know that this can sometimes be painful opening chart after chart, but this is the clearest way to give my thoughts.\r\n\r\nI am always writing be calm, be patient, take smaller positions and place wider stops but at the same time position size accordingly to manage risk. Never are these words as important as they are right now in my opinion.\r\n\r\nAs you know correlations in all markets matter a great deal to me. They give assurance and confidence placing trades.\r\n\r\nI really hope that you find this chart by chart approach a good insight into my thoughts on how I approach the market and a demonstration of the care that goes into my thought process prior to posting a trade set up for my PREMIUM SERVICE subscribers.\r\n\r\nBelow, I list out what I call my LEAD INDICATOR charts. They include commodities, indexes, currencies and bonds. These combined and their inter-market relationships, give me confidence when placing trades. If they correlate correctly I have additional confidence placing a trade set up or live trade. In addition, do not forget when looking at an individual currency pair to trade I also check directional trends as well.\r\n\r\nBear in mind the PROCESS also helps you manage RISK. RISK MANAGEMENT leads to better trading consistency and enhances your bottom line.\r\n\r\nBelow, I am looking at the current position chart by chart to give me my overview of the market. From this I have my macro fundamentals based on <strong><u>now</u></strong> versus my <strong><u>longer-term fundamentals.</u></strong>\r\n\r\nThis therefore gives me my background to the trading charts when looking for high probability set ups and Technicals to match these fundamentals. I just call it MY PROCESS.\r\n\r\nUSD INDEX (DXY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017.png\"><img class=\"aligncenter size-large wp-image-9371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017-1024x508.png\" alt=\"\" width=\"1024\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXAU/USD (GOLD):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017.png\"><img class=\"aligncenter size-large wp-image-9372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017-1024x510.png\" alt=\"\" width=\"1024\" height=\"510\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSOIL (WTi):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017.png\"><img class=\"aligncenter size-large wp-image-9376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017-1024x521.png\" alt=\"\" width=\"1024\" height=\"521\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXCU/USD (COPPER):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017.png\"><img class=\"aligncenter size-large wp-image-9370\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017-1024x546.png\" alt=\"\" width=\"1024\" height=\"546\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nSPX (S&amp;P 500):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017.png\"><img class=\"aligncenter size-large wp-image-9373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017-1024x511.png\" alt=\"\" width=\"1024\" height=\"511\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUS10Y (US 10 YEAR NOTE):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017.png\"><img class=\"aligncenter size-large wp-image-9367\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017-1024x549.png\" alt=\"\" width=\"1024\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/SEK:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017.png\"><img class=\"aligncenter size-large wp-image-9375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017-1024x564.png\" alt=\"\" width=\"1024\" height=\"564\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017.png\"><img class=\"aligncenter size-large wp-image-9374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017-1024x541.png\" alt=\"\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017.png\"><img class=\"aligncenter size-large wp-image-9369\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017-1024x540.png\" alt=\"\" width=\"1024\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/JPY:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017.png\"><img class=\"aligncenter size-large wp-image-9368\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017-1024x545.png\" alt=\"\" width=\"1024\" height=\"545\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy PROCESS in a nutshell is research. It’s your money. Your broker only wants you to keep feeding your account with funds to replace poor trading.\r\n\r\nPROCESS… DISCIPLINE… TRADE PLAN… RISK MANAGEMENT… POSITION SIZING…\r\n\r\nAll of the above blur together for me. The PROCESS helped me stopping feeding my broker accounts. It was too easy not to think properly and just be reactive with trading. It was tantamount to gambling. It is lazy not to manage your trades based upon your RISK and its lazy not to get the best possible entry price.\r\n\r\nMy PROCESS eliminates RISK. It gives me red, amber and green lights.\r\n\r\nThere is a great deal of information and data to digest from the above charts. I know that some of you will think that this is analysis paralysis. Let me write it again this is RISK MANAGEMENT.\r\n\r\nThis is MY PROCESS. This process has generated over 40,000 pips in the past four years in net profits and it works for me.\r\n<ul>\r\n 	<li>Yes, I openly admit it is time consuming and cautious.</li>\r\n 	<li>Yes, I let many trades (100’s a year) pass by that I could have traded.</li>\r\n 	<li>Yes, it is a “steady Eddie” approach.</li>\r\n 	<li>Yes, it requires discipline.</li>\r\n 	<li>Yes, it requires a TRADE PLAN.</li>\r\n 	<li>Yes, this helps you with MANAGING RISK and POSITION SIZING.</li>\r\n 	<li>Yes, you can argue that process is slow.</li>\r\n 	<li>But it works.</li>\r\n</ul>\r\nIn my opinion to trade you must have a PLAN, a PROCESS to achieve trading longevity. This PROCESS works for me and although I can still get caught out at times, my PROCESS has saved me more times than I would like to mention.\r\n\r\nI am a serious longer-term trader that wants to be about in 10 years’ time and maybe even beyond that horizon. Without a PLAN / PROCESS I cannot see how you would achieve trading longevity.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #134 PREMIUM SERVICE\r\nDATE: 9th April 2017','MY PROCESS (OF TRADING)','','inherit','closed','closed','','9384-revision-v1','','','2017-04-08 05:26:08','2017-04-08 10:26:08','',9384,'https://weeklyfxdrivethru.com/9384-revision-v1/',0,'revision','',0),(10621,1,'2017-12-14 10:15:16','2017-12-14 15:15:16','<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/2016-blog-dates.jpg\">\n</a>\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;','Blog Dates','','inherit','closed','closed','','2772-autosave-v1','','','2017-12-14 10:15:16','2017-12-14 15:15:16','',2772,'https://weeklyfxdrivethru.com/2772-autosave-v1/',0,'revision','',0),(10620,1,'2017-12-14 09:33:44','2017-12-14 14:33:44','<section class=\"members\">Over the past 12 months or so, I have been asked about providing specific training and a longer term mentoring program.I decided at the time that I wanted to leave this area to one side and place on hold until I had a full year of the PREMIUM SERVICE behind me.\r\n\r\nThere will always be timing issues surrounding this subject matter and the fact that PREMIUM SERVICE subscribers are located all over the world there is an added complication. At the moment, I am based just outside of Halifax, Nova Scotia, Canada (ADT Atlantic time). We all trade Forex the time differences are a challenge but not insurmountable.\r\n\r\nIf you want a little more: -\r\n<ul>\r\n 	<li>Background to the working of the Forex Market.</li>\r\n 	<li>Specific coaching on an area of Forex.</li>\r\n 	<li>A longer-term support program on all aspects of the Forex Market with a weekly review.</li>\r\n</ul>\r\nBasically, whatever you want just ask me. If I can accommodate your request from both my ability to deliver the content and the timing I will give you a YES or NO response.\r\n\r\nThe cost of this depends upon exactly what you want initially and longer-term. I am in the Forex Market for the long haul.\r\n\r\nThis is not a “smash and grab” business. Longevity, is the key to all aspects of Forex, training included. It is a step-by-step methodical approach; you test it, and then move on.\r\n\r\nFor any questions in connection with this area please in the first instance email with as much detail as possible to: - scott@thepremiumservice.com\r\n\r\n</section>','MENTORING and ONE-ON-ONE COACHING:','','inherit','closed','closed','','5553-revision-v1','','','2017-12-14 09:33:44','2017-12-14 14:33:44','',5553,'https://weeklyfxdrivethru.com/5553-revision-v1/',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (9788,1,'2017-07-29 11:05:06','2017-07-29 16:05:06','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week was all about the FOMC statement.\r\n\r\nFrom a trading perspective I added pips to the annual PREMIUM SERVICE tally and overall it was a good trading week.  Just over +1,800 net pips this month so far with one trading day left, I am not expecting a total of over 2,000 pips for the month but you just never know!\r\n\r\nMy thought process starting this week is unfortunately that we will probably revert to the usual summer range trading environment. The FOMC was the last big new event in my opinion pre-The Jackson Hole Symposium. Having just written that I do realise that this week has some major and important news events listed on the economic calendar.\r\n\r\nNext week is the last “DRIVE THRU” blog for four weeks. I will be on my summer break. I will still be trading but not with the same intensity. PREMIUM SERVICE subscribers will still know that I am around, I will not disappear completely off the grid.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n 	<li><strong> LAST WEEK – MY TAKE ON SOME KEY EVENTS:</strong></li>\r\n</ol>\r\nIn no order, here is what floated my boat last week.\r\n<ol>\r\n 	<li>USD: FOMC Rate Statement.\r\n\r\nThis item dominated the news last week for several reasons.\r\n\r\nFirstly, it was the first communication since Janet Yellen announced in her senate testimony a couple of weeks ago that the FED would be looking to taper its balance sheet by selling off the gazillions of bonds it purchased over the last number of years and that its policy of interest rate normalization would be on hold for the time being due to several economic factors.\r\n\r\nSecondly, as we all know Janet Yellen is a Dove. Even when she reads a Hawkish statement it sounds dovish! Would she resume normal service?\r\n\r\nThirdly, what data/ timelines would the markets receive on the tapering schedule?\r\n\r\nFrom my perspective, I thought she was dovish. Although several well-respected analysts have since said it was NOT that much of a dovish statement.\r\n\r\nThe bond market did not like it and after 15-20 minutes it moved suddenly and the EUR/USD rallied through 1.1700 which, prior to the bond move had held well. After the bond move the EUR/USD was off to the races and it took the FX market with it.\r\n\r\nWhat did Janet Yellen say?\r\n\r\nIn all honesty, she said nothing new; the news about tapering was that it would start “relatively soon”. She acknowledged that inflation was an issue and that it was below the FED 2% objective. The chance of a September rate hike looks like a “no chance” and this is probably what put the winds into the sails of the bond prices.\r\n\r\nWriting generally…\r\n\r\nIt’s all been so well documented what can I add. We really do analyze every word of the prepared Central Bank statements to death.\r\n\r\nAt the end of the day, how many times a year do the Central Bank’s move their goal posts on GDP, Inflation and Unemployment Rates just to name three items?\r\n\r\nThe goal posts move which then creates a shift in emphasis and therefore what was previously in place as a target is no longer there anymore and then the cycle starts again.\r\n\r\nWithout doubt economic fundamentals can change requiring adjustments, but sometimes moving the numbers is a ploy to hide failings and relieve scrutiny of a management approach or style in my opinion.\r\n\r\nI am not pointing the finger at any one Central Bank President or Governor, but they all know how to play the game and use the data in their favour.</li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"2\">\r\n 	<li>CAD: GDP (Beat 0.6% versus 0.2%)\r\n\r\nAll eyes will now be on Stephen Poloz and the BOC given the fact economic data of late has been more bullish the CAD than bearish and all eyes will be on the BOC to see if they will continue with their policy of raising interest rates.\r\n\r\nI think I mentioned this last week or maybe the week before, the move lower in the USD/CAD is now about $0.12 cents which in the good old days was equivalent to about a 1% rate cut all in. Poloz has gotten this move lower of over 1,200 pips for just some jawboning and 0.25%... not too bad.</li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\n<u>3.1: THIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/ECON-DATA-30072017.png\"><img class=\"aligncenter size-large wp-image-9761\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/ECON-DATA-30072017-1024x1019.png\" alt=\"\" width=\"1024\" height=\"1019\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2: MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:\r\n\r\n</u>Obviously, the pick of the week is US Non-Farm Payrolls on Friday, however, before that we have a plethora of data that should provide some volatility.\r\n\r\nI am looking forward to this week’s news events.\r\n<ol>\r\n 	<li>AUD: A big week for AUD data. The RBA issues its latest interest rate statement. We will see the latest Trade Balance numbers and an updated RBA Policy Statement will be released as well as at the latest Retail Sales numbers.\r\n\r\nOver the past couple of weeks the RBA has gone to great lengths to let the markets know they are quite happy with a neutral interest rate policy and that just because other Central Banks are moving to a policy of normalization it does NOT mean that the RBA will follow suit.\r\n\r\nHowever, I am not so sure that the RBA will be happy with the AUD/USD exchange rate pushing 0.8000. There may be some jawboning this week to try to keep the lid on the currency racing away. I am not sure with jawboning if this would have any effect at all, if that is a course of action that takes place. Let’s see what happens.</li>\r\n 	<li>GBP: This is a very, very big week for the UK. PMi data of late has been poor. We have the BOE inflation report and another MPC interest rate vote. Last month, the vote to keep rates unchanged was 5-3, the market was expecting 7-1. This will be interesting to see if the voting members that voted to hike last month have changed their opinions in view of the poor economic data that we have seen lately. Plus, we have a Carney speech.\r\n\r\nOne can hardly contain one’s excitement!</li>\r\n 	<li>NZD: Jobs data in New Zealand is always a market mover. Recent commentary from the RBNZ has basically been along the lines of “We couldn’t give a crap about the NZD/USD at 0.7400, there’s feck all we can do about it anyway”. Enough said, however, … let’s get the “algo’s” to push it to 0.8000 and see what the RBNZ says then!\r\n\r\nAlgo’s take note!</li>\r\n 	<li>CAD: Jobs data. If the CAD beats expectations, the rumour of more rate increases this year will hit fever pitch and the call from a trader buddy of mine saying 1.1500 is possible… could be on.</li>\r\n 	<li>USD: Jobs and ISM data are the pick. I am not so sure that the NFP data this week is going to be that important vis-a-vis the FED’s interest rate normalization policy. It will without doubt create “chaos and disorder” on the day but I am not convinced of any greater importance than just seeing what the stats are. The ISM data will be read carefully.\r\n\r\nEconomic data has been very mixed of late and I think that the consumer has gone into hiding in the U.S. We will get a handle on inflation and this will of course be studied in great detail by the FED.</li>\r\n</ol>\r\n<u>3.3: USD MAJORS – MY SUPPORT &amp; RESISTANCE LEVELS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/TCHART-30072017.png\"><img class=\"aligncenter size-large wp-image-9762\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/TCHART-30072017-1024x856.png\" alt=\"\" width=\"1024\" height=\"856\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>\r\n</strong>EUR/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/EURUSD-D-30072017.png\"><img class=\"aligncenter size-large wp-image-9774\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/EURUSD-D-30072017-1024x553.png\" alt=\"\" width=\"1024\" height=\"553\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/GBPUSD-D-30072017.png\"><img class=\"aligncenter size-large wp-image-9775\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/GBPUSD-D-30072017-1024x553.png\" alt=\"\" width=\"1024\" height=\"553\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/AUDUSD-D-30072017.png\"><img class=\"aligncenter size-large wp-image-9773\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/AUDUSD-D-30072017-1024x553.png\" alt=\"\" width=\"1024\" height=\"553\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/NZDUSD-D-30072017.png\"><img class=\"aligncenter size-large wp-image-9776\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/NZDUSD-D-30072017-1024x553.png\" alt=\"\" width=\"1024\" height=\"553\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDCAD-D-30072017.png\"><img class=\"aligncenter size-large wp-image-9777\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDCAD-D-30072017-1024x553.png\" alt=\"\" width=\"1024\" height=\"553\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDCHF-D-30072017.png\"><img class=\"aligncenter size-large wp-image-9778\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDCHF-D-30072017-1024x553.png\" alt=\"\" width=\"1024\" height=\"553\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDJPY-D-30072017.png\"><img class=\"aligncenter size-large wp-image-9779\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/USDJPY-D-30072017-1024x553.png\" alt=\"\" width=\"1024\" height=\"553\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>4.1: WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that I believe differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n&nbsp;\r\n\r\n<u>4.2: PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nSo; if nothing else, I tell it how it is. I am currently about 60% of my target for this time of the year. I had a poor start to the year and I am now following a vacation and a protracted house move, in “Pip” recovery mode.\r\n\r\nIn 2014, 2015 and 2016 I beat my 10,000 pip per annum objective. There is nothing stopping me doing the same this year as my house move and vacation are both behind me. I will be trading pretty much full time from now on through to the end of 2017.\r\n\r\nIf you want to be a part of what I hope will be a storming end to 2017, login at my website and get subscribed. I mean business from here on in.\r\n\r\n<u>CURRENT PREMIUM SERVICE PERFORMANCE:</u>\r\nMONTH TO DATE:  +1,810 net pips\r\nYEAR TO DATE:      +4,215 net pips\r\n<u>\r\n</u><u>4.3: WANT A PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$500.00, all you should do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nThis can be done as follows: -\r\n\r\nOn my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n&nbsp;\r\n\r\n<u>4.4: PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</u><u>\r\n</u>(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4.4.1: TRADING REVIEW:</u>\r\n<u>\r\n4.4.2: MARKET SENTIMENT:\r\n</u>\r\n<u>4.4.3: CORE TRADES:</u>\r\n<u>\r\n4.4.4: PREMIUM SERVICE – CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong> IT’S A BIG WEEK FOR CABLE\r\n\r\n</strong>\r\n\r\nIt’s super Thursday time once again.\r\n\r\nThis Thursday we get the following GBP data and a speech by Mark “Flip-flopper” Carney, governor of the Bank of England: -\r\n\r\nBOE Inflation Report\r\nMPC Official Bank Rate Votes\r\nMonetary Policy Summary\r\nOfficial Bank Rate\r\nAnd\r\nBOE Governor Carney Speaks\r\n\r\nIt\'s a week which could see the GBP/USD break higher towards 1.3300/1.3400 or shoot lower once again towards 1.2800.\r\n\r\nAs always, it’s all about the interpretation of statistics, and then, a consideration of the future uncertainties that surround the potential movements of cable. Forward guidance is not that good from the BOE under Mark Carney so if he starts talking in guidance terms, I for one will not feel the 100% comfortable in the BOE findings and predictions. Then again, Mark Carney is never really held accountable to this commentary, which, changes direction as many times as a wet and windy day in Galway, Ireland.\r\n\r\nThese days, whilst ultra-important vis-à-vis cable especially with BREXIT in the news practically every day, Carney’s Super Thursdays still lack the gusto of a Mario Draghi (ECB) squirming behind the table talking uncomfortably about a subject he does not believe in, or Janet Yellen (FED) trying to convince us that she is hawkish, whilst all the time she sounds and puts forward her hawkish position in a dove-like manner.\r\n\r\nPoor Mark Carney, what does he have in his armory? Bugger all really, he gave up on forward guidance, or was it I that just gave up reading the garbage that was circulated? He has now taken the title “flip-flopper” as he never appears to hold the same strategy from week to week.\r\n\r\nI suppose it is the “flip-flopping” that makes these events a kind of “What the feck is he going to say this time”, or, “Which way is the wind blowing today in Threadneedle Street?” At the end of the day, despite the sideshow, which I love by the way, there is a huge importance to attach to the data that is released and in my opinion Carneys words can usually be binned a few hours later.\r\n\r\nAt the last Super Thursday practically all the attention was focused on the fact that the vote which was predicted come in at 7-1, came in at 5-3. As a result, the cable strengthened and headed higher. The commentaries were along the lines of “the UK is about to raise rates”.\r\n\r\nIn an attempt to calm and stabilize the markets Carney spoke and said that rates will be low for the foreseeable future. He added, “Now is not the time to raise interest rates”. He quoted uncertainties surrounding BREXIT etc.\r\n\r\nOne week later as a guest at the ECB forum in Sintra, Portugal, Carney spoke again and said that the UK will probably have to look to raise rates this year.\r\n\r\nSo…\r\n\r\nWith this flip-flopper behind the podium what the feck is he going to say this week?\r\n\r\nFor my own needs and perspective, I tabulate some key data for every several economies to keep my macro FUNDAMENTAL thinking in check. I do not go into huge detail just the key data that I like.\r\n\r\nMy UK table is below: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/UK-ECON-FUNDAMENTALS-30072017.png\"><img class=\"aligncenter size-large wp-image-9766\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/UK-ECON-FUNDAMENTALS-30072017-776x1024.png\" alt=\"\" width=\"776\" height=\"1024\" /></a>\r\n\r\nRegular followers of this blog will know that FUNDAMENTALLY I believe that the consumer drives an economy. It is the man and woman on the street that keeps the wheels moving.\r\n\r\nMy thoughts: -\r\n\r\nInflation fell surprisingly last time around (But still held above the 2% BOE target).\r\nConsumer confidence fell again.\r\nMortgage applications marginally lower.\r\n\r\nThe Purchases Index dropped across the board (Manufacturing, Services and Construction).\r\n\r\nIn addition, wages are not keeping pace with inflation. Wage growth is sluggish. This is causing household pain; household debt is rising and this is a concern.\r\n\r\nMy thought process is that the BOE will NOT touch interest rates. Data is very mixed but the core data that effects the man and woman on the street should an interest rate rise be put through now, would kill off any chance of increased domestic spending. Tourists can buy goods in stores but they do not do home renovations etc.\r\n\r\nWhen the BREXIT vote was counted Carney stated that he would keep ample liquidity in the marketplace. I know a huge volume of water has flowed under that bridge since that announcement, but the same perils remain regarding the BREXIT uncertainties. I still believe that the market is 100% complacent over BREXIT.\r\n\r\nSo; what are the possibilities and how do I see it playing out: -\r\n\r\nThis is a little difficult as we receive the July Services, Construction and Manufacturing PMi data next week ahead of the super Thursday’s decision.\r\n\r\nMost people will be focused on the MPC vote. If it remains 5-3: There is a chance that the commentary will include words like “GRADUAL”. Cable will strengthen like crazy towards possibly 1.3400 as the markets will read a 2017 rate move into their plans.\r\n\r\nIf the vote moves back to 6-2 or even square one at 7-1 and leave in “EXTENDED PERIOD” the cable will weaken dramatically back towards 1.2800.\r\n\r\nI see no rate hike and commentary remaining accommodative based upon recent data being mixed. I just cannot see the RISK of raising rates or the slightest mention of raising rates. If cable is allowed to appreciate and then BREXIT negotiations fall apart, the GBP/USD will be at 1.2000 in a heartbeat.\r\n\r\nThere are so many other uncertainties in the UK. I know that the BOE should not go political, but they must be aware of the effects of another general election this autumn / fall given the tenuous position of power Theresa May has as UK Prime Minister. In addition, the BREXIT negotiations are slow, tedious and not providing any comfort to the markets at the moment. The movement of capital inflows out of the city of London is gathering pace as more and more financial institutions are announcing where they are going to set up shop in 18 months’ time when they exit the UK.\r\n\r\nIt is a tough decision.\r\n\r\nTo raise rates would kill off many households in the UK and create a problem probably not worth having as long as inflation remains under say 3.5%.  As long as inflation is level or even above 2% it\'s a problem worth having than trying to fix. To address it will open up a can of worms best kept under lock and key. In this instance, all the accountants and so-called financial brains should be given gardening leave.\r\n\r\nAs long as Mark Carney delivers a strong message in whatever direction, he must be believable and herein lies a FUNDAMENTAL problem. He is a “flip-flopper”.\r\n\r\nI am still in the camp of cable 1.2000 and EUR/GBP close to parity. I will be glued to my desk this Thursday.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #247 FREE NEWSLETTER\r\nDATE: 30th July 2017\r\n\r\n&nbsp;','IT’S A BIG WEEK FOR CABLE','','publish','open','closed','','big-week-cable','','','2017-07-29 11:05:06','2017-07-29 16:05:06','',0,'https://weeklyfxdrivethru.com/?p=9788',0,'post','',0),(10914,1,'2018-01-31 18:39:26','2018-01-31 23:39:26','<h4>Monthly and Annual Consolidated Performance Analysis :</h4>\r\n<section class=\"clearfix\">\r\n<div class=\"one-half first\">\r\n<h2>This Year<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/PL-RATIOS-JAN2018.png\"><img class=\"aligncenter size-large wp-image-10906\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/PL-RATIOS-JAN2018-910x1024.png\" alt=\"\" width=\"910\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS</h2>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DECEMBER-CONS.-2017.png\"><img class=\"size-large wp-image-10715 alignnone\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DECEMBER-CONS.-2017-851x1024.png\" alt=\"\" width=\"851\" height=\"1024\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/CONS-PERF-DEC2016-YTD.png\"><img class=\"alignnone size-large wp-image-8815\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/CONS-PERF-DEC2016-YTD-852x1024.png\" alt=\"\" width=\"852\" height=\"1024\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PS-RISK-REWARD-2015-COMP.png\"><img class=\"alignnone size-full wp-image-6991\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PS-RISK-REWARD-2015-COMP.png\" alt=\"\" width=\"420\" height=\"519\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PROFIT-LOSS-RATIO-2015-COMP.png\"><img class=\"alignnone size-full wp-image-6990\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PROFIT-LOSS-RATIO-2015-COMP.png\" alt=\"\" width=\"400\" height=\"516\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RISK-REWARD-RATIONS-2014-YTD.png\"><img class=\"alignnone size-large wp-image-8862\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RISK-REWARD-RATIONS-2014-YTD-811x1024.png\" alt=\"\" width=\"811\" height=\"1024\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PL-RATIOS-2014-COMPLETE.png\"><img class=\"alignnone size-large wp-image-8861\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PL-RATIOS-2014-COMPLETE-726x1024.png\" alt=\"\" width=\"726\" height=\"1024\" /></a>\r\n\r\n</div>\r\n</section>','CONSOLIDATED PERFORMANCE ANALYSIS','','inherit','closed','closed','','5002-revision-v1','','','2018-01-31 18:39:26','2018-01-31 23:39:26','',5002,'https://weeklyfxdrivethru.com/5002-revision-v1/',0,'revision','',0),(10803,16,'2018-01-18 14:29:24','2018-01-18 19:29:24','<section class=\"one-sixth first clearfix group\">\r\n<h4>PIP PERFORMANCE</h4>\r\n</section>\r\n<section class=\"five-sixths clearfix group\">\r\n\r\n<h2>2018 v 2017</h2>\r\n\r\n\r\n<h2>2017 v 2016\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PIP-COMPARISON-2017-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-10716\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PIP-COMPARISON-2017-COMPLETE-1024x813.png\" alt=\"\" width=\"1024\" height=\"813\" /></a></h2>\r\n\r\n\r\n<h2>2016 v 2015</h2>\r\n<img class=\"alignnone wp-image-8816\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PIP-COMPARISON-2016-COMPLETE-1024x615.png\" alt=\"\" width=\"1024\" />\r\n\r\n\r\n<h2>2015 v 2014</h2>\r\n<img class=\"alignnone wp-image-6992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PIP-COMP-2015-v-2014-COMP.png\" alt=\"PIP COMP 2015 v 2014 COMP\" width=\"1024\" />\r\n\r\n</section>','PIP PERFORMANCE YEAR by YEAR COMPARISONS','','inherit','closed','closed','','6869-revision-v1','','','2018-01-18 14:29:24','2018-01-18 19:29:24','',6869,'https://weeklyfxdrivethru.com/6869-revision-v1/',0,'revision','',0),(11061,1,'2018-02-28 16:09:07','2018-02-28 21:09:07','','PS PERF YTDFEB2018','','inherit','open','closed','','ps-perf-ytdfeb2018','','','2018-02-28 16:09:45','2018-02-28 21:09:45','',5000,'https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018.png',0,'attachment','image/png',0),(11063,1,'2018-02-28 16:10:18','2018-02-28 21:10:18','<h4>Total Trades Profit Summaries Archives:</h4>\r\n<section class=\"clearfix\">\r\n<div class=\"one-half first\">\r\n<h2>This Month<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11060\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018-798x1024.png\" alt=\"\" width=\"798\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>Year to date<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018.png\"><img class=\"aligncenter size-large wp-image-11061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018-838x1024.png\" alt=\"\" width=\"838\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n<h2>PREVIOUS YEARS</h2>\r\n<h2><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-10723\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE-972x1024.png\" alt=\"\" width=\"972\" height=\"1024\" /></a></h2>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-PROFITS-2016.png\"><img class=\"size-large wp-image-9216 aligncenter\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-PROFITS-2016-946x1024.png\" alt=\"\" width=\"946\" height=\"1024\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERVICE-COMPLETE-2015.png\"><img class=\"size-large wp-image-8804 aligncenter\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERVICE-COMPLETE-2015-1024x1011.png\" alt=\"\" width=\"1024\" height=\"1011\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PREM-PROFITS-2014.png\"><img class=\"aligncenter size-large wp-image-9214\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PREM-PROFITS-2014-1024x1022.png\" alt=\"\" width=\"1024\" height=\"1022\" /></a>\r\n\r\n</div>\r\n</section>','Total Trades Profit Summaries','','inherit','closed','closed','','5000-revision-v1','','','2018-02-28 16:10:18','2018-02-28 21:10:18','',5000,'https://weeklyfxdrivethru.com/5000-revision-v1/',0,'revision','',0),(11062,1,'2018-02-28 16:09:50','2018-02-28 21:09:50','<h4>Total Trades Profit Summaries Archives:</h4>\r\n<section class=\"clearfix\">\r\n<div class=\"one-half first\">\r\n<h2>This Month<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11060\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018-798x1024.png\" alt=\"\" width=\"798\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>Year to date<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018.png\"><img class=\"aligncenter size-large wp-image-11061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018-838x1024.png\" alt=\"\" width=\"838\" height=\"1024\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-YTDFEB2018-PERF.png\"><img class=\"aligncenter size-large wp-image-11048\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-YTDFEB2018-PERF-840x1024.png\" alt=\"\" width=\"840\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n<h2>PREVIOUS YEARS</h2>\r\n<h2><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-10723\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE-972x1024.png\" alt=\"\" width=\"972\" height=\"1024\" /></a></h2>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-PROFITS-2016.png\"><img class=\"size-large wp-image-9216 aligncenter\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-PROFITS-2016-946x1024.png\" alt=\"\" width=\"946\" height=\"1024\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERVICE-COMPLETE-2015.png\"><img class=\"size-large wp-image-8804 aligncenter\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERVICE-COMPLETE-2015-1024x1011.png\" alt=\"\" width=\"1024\" height=\"1011\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PREM-PROFITS-2014.png\"><img class=\"aligncenter size-large wp-image-9214\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PREM-PROFITS-2014-1024x1022.png\" alt=\"\" width=\"1024\" height=\"1022\" /></a>\r\n\r\n</div>\r\n</section>','Total Trades Profit Summaries','','inherit','closed','closed','','5000-revision-v1','','','2018-02-28 16:09:50','2018-02-28 21:09:50','',5000,'https://weeklyfxdrivethru.com/5000-revision-v1/',0,'revision','',0),(9066,1,'2017-02-04 08:39:12','2017-02-04 13:39:12','','ECON DATA 05022017','','inherit','open','closed','','econ-data-05022017','','','2017-02-05 07:34:13','2017-02-05 12:34:13','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017.png',0,'attachment','image/png',0),(9067,1,'2017-02-04 08:39:26','2017-02-04 13:39:26','','T CHART 05022017','','inherit','open','closed','','t-chart-05022017','','','2017-02-05 07:35:04','2017-02-05 12:35:04','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017.png',0,'attachment','image/png',0),(9068,1,'2017-02-04 08:40:31','2017-02-04 13:40:31','','AUDUSD D 05022017','','inherit','open','closed','','audusd-d-05022017','','','2017-02-05 07:35:48','2017-02-05 12:35:48','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017.png',0,'attachment','image/png',0),(9069,1,'2017-02-04 08:40:42','2017-02-04 13:40:42','','EURUSD D 05022017','','inherit','open','closed','','eurusd-d-05022017','','','2017-02-05 07:35:26','2017-02-05 12:35:26','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017.png',0,'attachment','image/png',0),(9070,1,'2017-02-04 08:40:53','2017-02-04 13:40:53','','GBPUSD D 05022017','','inherit','open','closed','','gbpusd-d-05022017','','','2017-02-05 07:35:37','2017-02-05 12:35:37','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017.png',0,'attachment','image/png',0),(9071,1,'2017-02-04 08:41:05','2017-02-04 13:41:05','','NZDUSD D 05022017','','inherit','open','closed','','nzdusd-d-05022017','','','2017-02-05 07:36:07','2017-02-05 12:36:07','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017.png',0,'attachment','image/png',0),(9072,1,'2017-02-04 08:41:17','2017-02-04 13:41:17','','USDCAD D 05022017','','inherit','open','closed','','usdcad-d-05022017','','','2017-02-05 07:36:20','2017-02-05 12:36:20','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017.png',0,'attachment','image/png',0),(9073,1,'2017-02-04 08:41:29','2017-02-04 13:41:29','','USDCHF D 05022017','','inherit','open','closed','','usdchf-d-05022017','','','2017-02-05 07:36:31','2017-02-05 12:36:31','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017.png',0,'attachment','image/png',0),(9074,1,'2017-02-04 08:41:41','2017-02-04 13:41:41','','USDJPY D 05022017','','inherit','open','closed','','usdjpy-d-05022017','','','2017-02-05 07:36:44','2017-02-05 12:36:44','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017.png',0,'attachment','image/png',0),(9075,1,'2017-02-05 07:40:57','2017-02-05 12:40:57','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that what we witnessed over the past 7 days was a typical week in the life of a Forex trader would be rather misleading in my view. It was a challenge. A challenge from many aspects, and dare I say it, moving forward, probably a typical example of what we are going to have to deal with.\r\n\r\nAs a longer-term position trader at heart, I have struggled with this approach off and on since the financial crash of 2008-9. At the moment, I am adapting to the TRUMP approach. That statement covers a multitude of factors. Like many traders I was wrongly positioned with trades at the outset of 2017, and I have been working my exits. I believe it will take me a couple of months to re-position myself for moving forward and I have my plan formulated.\r\n\r\nWith trading, I always have a trading plan. People may not agree with it, but as long as I have my plan, I have something to trade with and I have my goals. Forex trading is long haul for me. If I have to sit back for a week or so… so be it. Forcing trades is NOT the answer.\r\n\r\nWe are trading in very difficult times; I know of three traders who ended trading Forex last week. It is hard, challenging and just to keep your head above water is a good result in my opinion at the moment. If like me, you are losing money, you are not alone. At least I will tell you how it is. I want to remain truthful to you on how I am doing. I have been here before and I got through it, and by the end of this year I will be back in black again pushing the 10,000 pips profit goal. But bear in mind many traders are being squeezed out and accounts are being nullified.\r\n\r\nThe larger institutions were trying to exit upside down positioning last month and this added to the volatile quite strange moves at times. As retail traders, we operate on their coat tails. If the market moves are directionally difficult to understand and we try to follow blindly, this is no better than gambling in my opinion. For this reason, I can understand many retail traders getting caught up in moves and many would have had the rug pulled from beneath them in the volatility.\r\n\r\nYou hear traders sometimes say they love volatility. This is basically on most occasions nothing more than pure bravado. I have a massive issue at times about supporting such statements. I trade to make money. I could not give a sh*t about volatility, I want direction. Volatility to me means winners and losers… that is gambler talk. There is a place for gamblers it’s called Las Vegas, off you go. Very simply “Direction = Money and Money = Profits”.\r\n\r\nLast month, I recorded a loss of 793 pips. There may be slight losses again in February as I work out of older trades with my trade plan. But these losses should be slight as new trade profits will cover the old trade losses… at least that is my plan!!\r\n\r\nBefore TRUMP and after TRUMP thankfully, I have been trading nothing more than between 10% and at the most only 50% usual position sizes, This has helped, financial losses have been small and manageable but pip losses higher than usual as I work through my positions to exit.\r\n\r\nI am therefore in transit mode for Q1 2017. I will write about this next week.\r\n\r\nPREMIUM SERVICE subscribers know already that for the latter part of last week I was enduring computer work on my main machine, and it has been offline for the past 60 hours or so. What was deemed to be a software issue due to a bad upgrade which was mainly affecting “Office for Mac” and “MacMail” turning out to be an exacerbated issue as my fusion trade connection was malfunctioning. “Bloody Technology”, as someone commented to me last week… yes indeed. Since buying the most expensive machine possible from Apple, since the sierra ios upgrade, I have had 4 months of hell. It is now fixed? Not sure, I still have to complete the re-build. You forget that you have so much on your machines. Adding back stuff will be on-going for a while.\r\n\r\nThe bottom line was that yesterday; I did not think that I would have any sort of blog delivered. This week’s DRIVE THRU is short but I am happy to have gotten something out within the time constraints available.\r\n\r\nMoving on…\r\n\r\nI am going to use the week in the USA “TRUMPANTICS” as my “SOAPBOX” piece this week, as I did not have time to research and prepare an article. This would have normally been included here in this section.\r\n\r\nUSA aside…\r\n\r\nThe BOJ held policy and defended TRUMP finger pointing as currency manipulators.\r\n\r\nThe BREXIT was the other main issue last week. The BOE, and JCB driver extraordinaire BOE Governor Mark Carney issued his Inflation Report and Policy statement.\r\n\r\nVery soon, Carney is going to appear wearing his kickers over his suit pants and a cape over his jacket. Jesus, Mary and Joseph… watching Carney at times it’s a case of “I love me who do you love?” Bring on the dry ice and play “Jesus Take The Wheel” on his entry to these meetings, they are times dramatic and delivered almost in a style as if he was on a Broadway or West End stage. What’s next pure theatrics.\r\n\r\nThe bottom line was that Theresa May with all the huff ‘n puff over a hard BREXIT (I still do not get this soft or hard BREXIT crap) was firmly put in its place by a dramatic reality check by Carney. The cable pulled back from the brink of a test of 1.2775 to now sitting just below 1.2500 at the close of the week.\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nIf I were critiquing my performance, I would say broadcast #2 was better than #1. Much less technical. #3 should see further improvements\r\n\r\n#3 is on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017.png\"><img class=\"aligncenter size-large wp-image-9066\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017-1024x953.png\" alt=\"\" width=\"1024\" height=\"953\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt’s all Commodity currency related this week for me.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>AUD - RBA: We have an interest rate decision; a rate statement a Monetary Policy statement and Governor Lowe also has a session in front of the gathering press.\r\nTherefore; it\'s a busy week “down-under” so to speak.\r\nI am not expecting any change in policy other than confirmation of a neutral position looking to keep rates unchanged this year.</li>\r\n 	<li>NZD - RBNZ: That charming man Graeme Wheeler will be in the drinks cabinet again pulling out a few bottles of Cloudy Bay for the gathering press ensemble to hear him drone on about how 80% of exchange rate control is out of his hands. I am not expecting any major changes at all.\r\nWe also have the dairy auction prices to look at as well prior to Wheeler’s soiree. But the bigger news should be the RBNZ for obvious reasons.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>CAD: We have Trade balance and Jobs data this week. These two pieces of data are key for me. TRUMP is dominating the CAD at the moment with pipeline executive orders and trade agreement bullying.\r\nYer man from the BOC, Governor Stephen Poloz will be an anxious on looker this week to see does his recent comment about interest rate cuts need to be moved up a notch or two.\r\nIf it weren’t for TRUMP and OIL, the CAD would be a great trade longer-term!\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.</li>\r\n</ol>\r\nNothing major on the docket vis-a-vis the US this week. However, I am certain THE DONALD will fill the void. In addition, do NOT rule out BREXIT and the EUROZONE.  These three geopolitical heavyweights can turn markets on a dime.\r\n\r\nUncertainty and, to a large extent, confusion rules!\r\n\r\n<u>\r\nUSD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017.png\"><img class=\"aligncenter size-large wp-image-9067\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017-1024x793.png\" alt=\"\" width=\"1024\" height=\"793\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9069\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9070\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9068\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9071\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9072\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9073\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9074\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE ?:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI am in transition. I do see a change in sentiment coming and I am disturbed by TRUMPS ability to f**k everything up that he touches. He makes statements then walks them back in denial.\r\n\r\nPlease bear with me through this transition.\r\n\r\nI was very guilty of listening to third parties over my longer-term EUR and GBP trades. My stops were never threatened in the cable yet I pulled off trades to reduce RISK. Not an incorrect approach but I am seriously annoyed with myself as the cable is now moving lower after the markets have suddenly got a grip on themselves once again.\r\n\r\nIt will take me just a few more days to have my plan taking shape with trades. TRUMP concerns me. I want to see the fallout from the TRAVEL BAN restraining order. Frankly the sooner he gets around to expansionist policies on infrastructure and tax reform the better.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nTrading will remain light in view of the market conditions. However, apart from the GBP/USD, if you look at the USD major charts in the blog we are on USD weakness watch.\r\n\r\nThe DXY support levels have been holding very well so far.\r\n\r\nIf TRUMP goes after the FED next, we will see blood on the trading floor. That is of major concern at the moment and I DO NOT want to be caught in the middle of that.\r\n\r\nFrom a trading perspective expect to see cross rate trades appearing over the coming days.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Much happier now with the AUD/USD finally moving upwards. I will still look to exit with 100 pip profit chunks if possible. As I wrote last week the 200SMA around 1.0540 held the upwards move back. Maybe the RBA this week will give us the 10.750 – 1.0800 objective at last being in target range.</li>\r\n 	<li>EUR/NZD: - I am holding these trades. This currency pair is a straight on RISK ON – RISK OFF trade and I think that as it is such a small position and risk, it is worth just sitting in at the moment. This pair can move 400 pips a day no problem when it gets its mojo on.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\nThe bigger picture is that despite encouraging inflation data aside, the EUROZONE is facing major / serious issues ahead.</li>\r\n 	<li>GBP/USD: - I am going to add shorts again. I still have one left in a loss position of about 200 pips. This is frustrating to trade but uncertainty and TRUMP aside, this pair is up against it later this year and next.</li>\r\n</ol>\r\n<u>THE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar:  Monday February 5th 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event. To access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nPlease note I cannot get my excel links to run. I have tried about 20 times. At the moment I am struggling to fix this. Even my re-build is not working.\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>TRUMPANTICS</strong></p>\r\nLast week world news was once again being dominated by “TRUMPANTICS”. We are dealing with a child as a President. I admire the fact that for once someone in office is doing what they said they would do, however, like his policies or not, that is refreshing. It is the fact that he cannot conduct himself in a Presidential matter that takes a lot of getting used to and the TWEETS we just should adjust to.\r\n\r\nWe now have Federal Judges involved with the Executive Orders over the “travel ban”, this means more diversions, more uncertainties for the markets to absorb and react to.\r\n\r\nGreat jobs numbers all around in the USA last week. ADP and NFP blow out numbers. Wage growth was not a good number when it was released at the same time as NFP and the markets reacted poorly. It was too big of a negative reaction in my opinion. I expected with these numbers to see the DXY back at 101.00. We closed the week at 99.73.\r\n\r\nMy fear moving forward is the FED will remain on hold for most, if not all, of this year. This is a change in monetary policy for the USA and will suit the TRUMP plans to keep the USD weaker.\r\n\r\nThe FOMC held rates unchanged last week and Janet Yellen was quite dovish in her language used in the released monetary policy statement. This is at the root of a sea-change that I believe is starting to happen.\r\n\r\nI can see confrontation ahead between TRUMP and the FED which will of course call into question the independence of the FED. TRUMP could not give a rat’s ass about that, he wants total control.  This ripple of a change that we are witnessing at the moment could be a full-blown tsunami within days if TRUMP starts on the TWEETS with FED policies, Yellen and the FOMC.\r\n\r\nFED monetary policy worries me; I am NOT convinced. I do NOT care what the clever people on BLOOMBERG and CNBC say. They all got TRUMP wrong and the effects of TRUMP wrong. The FED can change policy based on uncertain markets and domestic policy. They could re-assess inflation targets to 3.5-4% given the massive changes planned by the TRUMP administration. That means rates possibly on hold until 2019.\r\n\r\nIf Janet Yellen wants to keep her job she may have no choice.\r\n\r\nJanet Yellen is a dove; she always will be. It’s easier to be a dove than a hawk. TRUMP wants a weak USD. Low rates forever gives him this. FED policy could be changing. Otherwise Janet Yellen…you’re fired!!\r\n\r\nThis is a biggie.\r\n\r\nTake care and maybe re-evaluate your tactics. I am in the middle right now of looking at my trading plan moving forward reassessing my risks.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #126 PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> February 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;','TRUMPANTICS','','publish','open','closed','','trumpantics','','','2017-02-05 07:42:33','2017-02-05 12:42:33','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9075',0,'member_posts','',0),(9076,1,'2017-02-05 07:40:57','2017-02-05 12:40:57','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that what we witnessed over the past 7 days was a typical week in the life of a Forex trader would be rather misleading in my view. It was a challenge. A challenge from many aspects, and dare I say it, moving forward, probably a typical example of what we are going to have to deal with.\r\n\r\nAs a longer-term position trader at heart, I have struggled with this approach off and on since the financial crash of 2008-9. At the moment, I am adapting to the TRUMP approach. That statement covers a multitude of factors. Like many traders I was wrongly positioned with trades at the outset of 2017, and I have been working my exits. I believe it will take me a couple of months to re-position myself for moving forward and I have my plan formulated.\r\n\r\nWith trading, I always have a trading plan. People may not agree with it, but as long as I have my plan, I have something to trade with and I have my goals. Forex trading is long haul for me. If I have to sit back for a week or so… so be it. Forcing trades is NOT the answer.\r\n\r\nWe are trading in very difficult times; I know of three traders who ended trading Forex last week. It is hard, challenging and just to keep your head above water is a good result in my opinion at the moment. If like me, you are losing money, you are not alone. At least I will tell you how it is. I want to remain truthful to you on how I am doing. I have been here before and I got through it, and by the end of this year I will be back in black again pushing the 10,000 pips profit goal. But bear in mind many traders are being squeezed out and accounts are being nullified.\r\n\r\nThe larger institutions were trying to exit upside down positioning last month and this added to the volatile quite strange moves at times. As retail traders, we operate on their coat tails. If the market moves are directionally difficult to understand and we try to follow blindly, this is no better than gambling in my opinion. For this reason, I can understand many retail traders getting caught up in moves and many would have had the rug pulled from beneath them in the volatility.\r\n\r\nYou hear traders sometimes say they love volatility. This is basically on most occasions nothing more than pure bravado. I have a massive issue at times about supporting such statements. I trade to make money. I could not give a sh*t about volatility, I want direction. Volatility to me means winners and losers… that is gambler talk. There is a place for gamblers it’s called Las Vegas, off you go. Very simply “Direction = Money and Money = Profits”.\r\n\r\nLast month, I recorded a loss of 793 pips. There may be slight losses again in February as I work out of older trades with my trade plan. But these losses should be slight as new trade profits will cover the old trade losses… at least that is my plan!!\r\n\r\nBefore TRUMP and after TRUMP thankfully, I have been trading nothing more than between 10% and at the most only 50% usual position sizes, This has helped, financial losses have been small and manageable but pip losses higher than usual as I work through my positions to exit.\r\n\r\nI am therefore in transit mode for Q1 2017. I will write about this next week.\r\n\r\nPREMIUM SERVICE subscribers know already that for the latter part of last week I was enduring computer work on my main machine, and it has been offline for the past 60 hours or so. What was deemed to be a software issue due to a bad upgrade which was mainly affecting “Office for Mac” and “MacMail” turning out to be an exacerbated issue as my fusion trade connection was malfunctioning. “Bloody Technology”, as someone commented to me last week… yes indeed. Since buying the most expensive machine possible from Apple, since the sierra ios upgrade, I have had 4 months of hell. It is now fixed? Not sure, I still have to complete the re-build. You forget that you have so much on your machines. Adding back stuff will be on-going for a while.\r\n\r\nThe bottom line was that yesterday; I did not think that I would have any sort of blog delivered. This week’s DRIVE THRU is short but I am happy to have gotten something out within the time constraints available.\r\n\r\nMoving on…\r\n\r\nI am going to use the week in the USA “TRUMPANTICS” as my “SOAPBOX” piece this week, as I did not have time to research and prepare an article. This would have normally been included here in this section.\r\n\r\nUSA aside…\r\n\r\nThe BOJ held policy and defended TRUMP finger pointing as currency manipulators.\r\n\r\nThe BREXIT was the other main issue last week. The BOE, and JCB driver extraordinaire BOE Governor Mark Carney issued his Inflation Report and Policy statement.\r\n\r\nVery soon, Carney is going to appear wearing his kickers over his suit pants and a cape over his jacket. Jesus, Mary and Joseph… watching Carney at times it’s a case of “I love me who do you love?” Bring on the dry ice and play “Jesus Take The Wheel” on his entry to these meetings, they are times dramatic and delivered almost in a style as if he was on a Broadway or West End stage. What’s next pure theatrics.\r\n\r\nThe bottom line was that Theresa May with all the huff ‘n puff over a hard BREXIT (I still do not get this soft or hard BREXIT crap) was firmly put in its place by a dramatic reality check by Carney. The cable pulled back from the brink of a test of 1.2775 to now sitting just below 1.2500 at the close of the week.\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nIf I were critiquing my performance, I would say broadcast #2 was better than #1. Much less technical. #3 should see further improvements\r\n\r\n#3 is on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017.png\"><img class=\"aligncenter size-large wp-image-9066\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017-1024x953.png\" alt=\"\" width=\"1024\" height=\"953\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt’s all Commodity currency related this week for me.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>AUD - RBA: We have an interest rate decision; a rate statement a Monetary Policy statement and Governor Lowe also has a session in front of the gathering press.\r\nTherefore; it\'s a busy week “down-under” so to speak.\r\nI am not expecting any change in policy other than confirmation of a neutral position looking to keep rates unchanged this year.</li>\r\n 	<li>NZD - RBNZ: That charming man Graeme Wheeler will be in the drinks cabinet again pulling out a few bottles of Cloudy Bay for the gathering press ensemble to hear him drone on about how 80% of exchange rate control is out of his hands. I am not expecting any major changes at all.\r\nWe also have the dairy auction prices to look at as well prior to Wheeler’s soiree. But the bigger news should be the RBNZ for obvious reasons.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>CAD: We have Trade balance and Jobs data this week. These two pieces of data are key for me. TRUMP is dominating the CAD at the moment with pipeline executive orders and trade agreement bullying.\r\nYer man from the BOC, Governor Stephen Poloz will be an anxious on looker this week to see does his recent comment about interest rate cuts need to be moved up a notch or two.\r\nIf it weren’t for TRUMP and OIL, the CAD would be a great trade longer-term!\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.</li>\r\n</ol>\r\nNothing major on the docket vis-a-vis the US this week. However, I am certain THE DONALD will fill the void. In addition, do NOT rule out BREXIT and the EUROZONE.  These three geopolitical heavyweights can turn markets on a dime.\r\n\r\nUncertainty and, to a large extent, confusion rules!\r\n\r\n<u>\r\nUSD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017.png\"><img class=\"aligncenter size-large wp-image-9067\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017-1024x793.png\" alt=\"\" width=\"1024\" height=\"793\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9069\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9070\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9068\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9071\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9072\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9073\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9074\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE ?:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI am in transition. I do see a change in sentiment coming and I am disturbed by TRUMPS ability to f**k everything up that he touches. He makes statements then walks them back in denial.\r\n\r\nPlease bear with me through this transition.\r\n\r\nI was very guilty of listening to third parties over my longer-term EUR and GBP trades. My stops were never threatened in the cable yet I pulled off trades to reduce RISK. Not an incorrect approach but I am seriously annoyed with myself as the cable is now moving lower after the markets have suddenly got a grip on themselves once again.\r\n\r\nIt will take me just a few more days to have my plan taking shape with trades. TRUMP concerns me. I want to see the fallout from the TRAVEL BAN restraining order. Frankly the sooner he gets around to expansionist policies on infrastructure and tax reform the better.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nTrading will remain light in view of the market conditions. However, apart from the GBP/USD, if you look at the USD major charts in the blog we are on USD weakness watch.\r\n\r\nThe DXY support levels have been holding very well so far.\r\n\r\nIf TRUMP goes after the FED next, we will see blood on the trading floor. That is of major concern at the moment and I DO NOT want to be caught in the middle of that.\r\n\r\nFrom a trading perspective expect to see cross rate trades appearing over the coming days.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Much happier now with the AUD/USD finally moving upwards. I will still look to exit with 100 pip profit chunks if possible. As I wrote last week the 200SMA around 1.0540 held the upwards move back. Maybe the RBA this week will give us the 10.750 – 1.0800 objective at last being in target range.</li>\r\n 	<li>EUR/NZD: - I am holding these trades. This currency pair is a straight on RISK ON – RISK OFF trade and I think that as it is such a small position and risk, it is worth just sitting in at the moment. This pair can move 400 pips a day no problem when it gets its mojo on.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\nThe bigger picture is that despite encouraging inflation data aside, the EUROZONE is facing major / serious issues ahead.</li>\r\n 	<li>GBP/USD: - I am going to add shorts again. I still have one left in a loss position of about 200 pips. This is frustrating to trade but uncertainty and TRUMP aside, this pair is up against it later this year and next.</li>\r\n</ol>\r\n<u>THE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar:  Monday February 5th 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event. To access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nPlease note I cannot get my excel links to run. I have tried about 20 times. At the moment I am struggling to fix this. Even my re-build is not working.\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>TRUMPANTICS</strong></p>\r\nLast week world news was once again being dominated by “TRUMPANTICS”. We are dealing with a child as a President. I admire the fact that for once someone in office is doing what they said they would do, however, like his policies or not, that is refreshing. It is the fact that he cannot conduct himself in a Presidential matter that takes a lot of getting used to and the TWEETS we just should adjust to.\r\n\r\nWe now have Federal Judges involved with the Executive Orders over the “travel ban”, this means more diversions, more uncertainties for the markets to absorb and react to.\r\n\r\nGreat jobs numbers all around in the USA last week. ADP and NFP blow out numbers. Wage growth was not a good number when it was released at the same time as NFP and the markets reacted poorly. It was too big of a negative reaction in my opinion. I expected with these numbers to see the DXY back at 101.00. We closed the week at 99.73.\r\n\r\nMy fear moving forward is the FED will remain on hold for most, if not all, of this year. This is a change in monetary policy for the USA and will suit the TRUMP plans to keep the USD weaker.\r\n\r\nThe FOMC held rates unchanged last week and Janet Yellen was quite dovish in her language used in the released monetary policy statement. This is at the root of a sea-change that I believe is starting to happen.\r\n\r\nI can see confrontation ahead between TRUMP and the FED which will of course call into question the independence of the FED. TRUMP could not give a rat’s ass about that, he wants total control.  This ripple of a change that we are witnessing at the moment could be a full-blown tsunami within days if TRUMP starts on the TWEETS with FED policies, Yellen and the FOMC.\r\n\r\nFED monetary policy worries me; I am NOT convinced. I do NOT care what the clever people on BLOOMBERG and CNBC say. They all got TRUMP wrong and the effects of TRUMP wrong. The FED can change policy based on uncertain markets and domestic policy. They could re-assess inflation targets to 3.5-4% given the massive changes planned by the TRUMP administration. That means rates possibly on hold until 2019.\r\n\r\nIf Janet Yellen wants to keep her job she may have no choice.\r\n\r\nJanet Yellen is a dove; she always will be. It’s easier to be a dove than a hawk. TRUMP wants a weak USD. Low rates forever gives him this. FED policy could be changing. Otherwise Janet Yellen…you’re fired!!\r\n\r\nThis is a biggie.\r\n\r\nTake care and maybe re-evaluate your tactics. I am in the middle right now of looking at my trading plan moving forward reassessing my risks.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #126 PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> February 2017.<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;','TRUMPANTICS','','inherit','closed','closed','','9075-revision-v1','','','2017-02-05 07:40:57','2017-02-05 12:40:57','',9075,'http://weeklyfxdrivethru.com/9075-revision-v1/',0,'revision','',0),(9077,1,'2017-02-05 07:42:33','2017-02-05 12:42:33','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that what we witnessed over the past 7 days was a typical week in the life of a Forex trader would be rather misleading in my view. It was a challenge. A challenge from many aspects, and dare I say it, moving forward, probably a typical example of what we are going to have to deal with.\r\n\r\nAs a longer-term position trader at heart, I have struggled with this approach off and on since the financial crash of 2008-9. At the moment, I am adapting to the TRUMP approach. That statement covers a multitude of factors. Like many traders I was wrongly positioned with trades at the outset of 2017, and I have been working my exits. I believe it will take me a couple of months to re-position myself for moving forward and I have my plan formulated.\r\n\r\nWith trading, I always have a trading plan. People may not agree with it, but as long as I have my plan, I have something to trade with and I have my goals. Forex trading is long haul for me. If I have to sit back for a week or so… so be it. Forcing trades is NOT the answer.\r\n\r\nWe are trading in very difficult times; I know of three traders who ended trading Forex last week. It is hard, challenging and just to keep your head above water is a good result in my opinion at the moment. If like me, you are losing money, you are not alone. At least I will tell you how it is. I want to remain truthful to you on how I am doing. I have been here before and I got through it, and by the end of this year I will be back in black again pushing the 10,000 pips profit goal. But bear in mind many traders are being squeezed out and accounts are being nullified.\r\n\r\nThe larger institutions were trying to exit upside down positioning last month and this added to the volatile quite strange moves at times. As retail traders, we operate on their coat tails. If the market moves are directionally difficult to understand and we try to follow blindly, this is no better than gambling in my opinion. For this reason, I can understand many retail traders getting caught up in moves and many would have had the rug pulled from beneath them in the volatility.\r\n\r\nYou hear traders sometimes say they love volatility. This is basically on most occasions nothing more than pure bravado. I have a massive issue at times about supporting such statements. I trade to make money. I could not give a sh*t about volatility, I want direction. Volatility to me means winners and losers… that is gambler talk. There is a place for gamblers it’s called Las Vegas, off you go. Very simply “Direction = Money and Money = Profits”.\r\n\r\nLast month, I recorded a loss of 793 pips. There may be slight losses again in February as I work out of older trades with my trade plan. But these losses should be slight as new trade profits will cover the old trade losses… at least that is my plan!!\r\n\r\nBefore TRUMP and after TRUMP thankfully, I have been trading nothing more than between 10% and at the most only 50% usual position sizes, This has helped, financial losses have been small and manageable but pip losses higher than usual as I work through my positions to exit.\r\n\r\nI am therefore in transit mode for Q1 2017. I will write about this next week.\r\n\r\nPREMIUM SERVICE subscribers know already that for the latter part of last week I was enduring computer work on my main machine, and it has been offline for the past 60 hours or so. What was deemed to be a software issue due to a bad upgrade which was mainly affecting “Office for Mac” and “MacMail” turning out to be an exacerbated issue as my fusion trade connection was malfunctioning. “Bloody Technology”, as someone commented to me last week… yes indeed. Since buying the most expensive machine possible from Apple, since the sierra ios upgrade, I have had 4 months of hell. It is now fixed? Not sure, I still have to complete the re-build. You forget that you have so much on your machines. Adding back stuff will be on-going for a while.\r\n\r\nThe bottom line was that yesterday; I did not think that I would have any sort of blog delivered. This week’s DRIVE THRU is short but I am happy to have gotten something out within the time constraints available.\r\n\r\nMoving on…\r\n\r\nI am going to use the week in the USA “TRUMPANTICS” as my “SOAPBOX” piece this week, as I did not have time to research and prepare an article. This would have normally been included here in this section.\r\n\r\nUSA aside…\r\n\r\nThe BOJ held policy and defended TRUMP finger pointing as currency manipulators.\r\n\r\nThe BREXIT was the other main issue last week. The BOE, and JCB driver extraordinaire BOE Governor Mark Carney issued his Inflation Report and Policy statement.\r\n\r\nVery soon, Carney is going to appear wearing his kickers over his suit pants and a cape over his jacket. Jesus, Mary and Joseph… watching Carney at times it’s a case of “I love me who do you love?” Bring on the dry ice and play “Jesus Take The Wheel” on his entry to these meetings, they are times dramatic and delivered almost in a style as if he was on a Broadway or West End stage. What’s next pure theatrics.\r\n\r\nThe bottom line was that Theresa May with all the huff ‘n puff over a hard BREXIT (I still do not get this soft or hard BREXIT crap) was firmly put in its place by a dramatic reality check by Carney. The cable pulled back from the brink of a test of 1.2775 to now sitting just below 1.2500 at the close of the week.\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nIf I were critiquing my performance, I would say broadcast #2 was better than #1. Much less technical. #3 should see further improvements\r\n\r\n#3 is on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017.png\"><img class=\"aligncenter size-large wp-image-9066\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017-1024x953.png\" alt=\"\" width=\"1024\" height=\"953\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt’s all Commodity currency related this week for me.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>AUD - RBA: We have an interest rate decision; a rate statement a Monetary Policy statement and Governor Lowe also has a session in front of the gathering press.\r\nTherefore; it\'s a busy week “down-under” so to speak.\r\nI am not expecting any change in policy other than confirmation of a neutral position looking to keep rates unchanged this year.</li>\r\n 	<li>NZD - RBNZ: That charming man Graeme Wheeler will be in the drinks cabinet again pulling out a few bottles of Cloudy Bay for the gathering press ensemble to hear him drone on about how 80% of exchange rate control is out of his hands. I am not expecting any major changes at all.\r\nWe also have the dairy auction prices to look at as well prior to Wheeler’s soiree. But the bigger news should be the RBNZ for obvious reasons.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>CAD: We have Trade balance and Jobs data this week. These two pieces of data are key for me. TRUMP is dominating the CAD at the moment with pipeline executive orders and trade agreement bullying.\r\nYer man from the BOC, Governor Stephen Poloz will be an anxious on looker this week to see does his recent comment about interest rate cuts need to be moved up a notch or two.\r\nIf it weren’t for TRUMP and OIL, the CAD would be a great trade longer-term!\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.</li>\r\n</ol>\r\nNothing major on the docket vis-a-vis the US this week. However, I am certain THE DONALD will fill the void. In addition, do NOT rule out BREXIT and the EUROZONE.  These three geopolitical heavyweights can turn markets on a dime.\r\n\r\nUncertainty and, to a large extent, confusion rules!\r\n\r\n<u>\r\nUSD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017.png\"><img class=\"aligncenter size-large wp-image-9067\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017-1024x793.png\" alt=\"\" width=\"1024\" height=\"793\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9069\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9070\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9068\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9071\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9072\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9073\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9074\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE ?:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI am in transition. I do see a change in sentiment coming and I am disturbed by TRUMPS ability to f**k everything up that he touches. He makes statements then walks them back in denial.\r\n\r\nPlease bear with me through this transition.\r\n\r\nI was very guilty of listening to third parties over my longer-term EUR and GBP trades. My stops were never threatened in the cable yet I pulled off trades to reduce RISK. Not an incorrect approach but I am seriously annoyed with myself as the cable is now moving lower after the markets have suddenly got a grip on themselves once again.\r\n\r\nIt will take me just a few more days to have my plan taking shape with trades. TRUMP concerns me. I want to see the fallout from the TRAVEL BAN restraining order. Frankly the sooner he gets around to expansionist policies on infrastructure and tax reform the better.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nTrading will remain light in view of the market conditions. However, apart from the GBP/USD, if you look at the USD major charts in the blog we are on USD weakness watch.\r\n\r\nThe DXY support levels have been holding very well so far.\r\n\r\nIf TRUMP goes after the FED next, we will see blood on the trading floor. That is of major concern at the moment and I DO NOT want to be caught in the middle of that.\r\n\r\nFrom a trading perspective expect to see cross rate trades appearing over the coming days.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Much happier now with the AUD/USD finally moving upwards. I will still look to exit with 100 pip profit chunks if possible. As I wrote last week the 200SMA around 1.0540 held the upwards move back. Maybe the RBA this week will give us the 10.750 – 1.0800 objective at last being in target range.</li>\r\n 	<li>EUR/NZD: - I am holding these trades. This currency pair is a straight on RISK ON – RISK OFF trade and I think that as it is such a small position and risk, it is worth just sitting in at the moment. This pair can move 400 pips a day no problem when it gets its mojo on.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\nThe bigger picture is that despite encouraging inflation data aside, the EUROZONE is facing major / serious issues ahead.</li>\r\n 	<li>GBP/USD: - I am going to add shorts again. I still have one left in a loss position of about 200 pips. This is frustrating to trade but uncertainty and TRUMP aside, this pair is up against it later this year and next.</li>\r\n</ol>\r\n<u>THE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar:  Monday February 5th 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event. To access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nPlease note I cannot get my excel links to run. I have tried about 20 times. At the moment I am struggling to fix this. Even my re-build is not working.\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>TRUMPANTICS</strong></p>\r\nLast week world news was once again being dominated by “TRUMPANTICS”. We are dealing with a child as a President. I admire the fact that for once someone in office is doing what they said they would do, however, like his policies or not, that is refreshing. It is the fact that he cannot conduct himself in a Presidential matter that takes a lot of getting used to and the TWEETS we just should adjust to.\r\n\r\nWe now have Federal Judges involved with the Executive Orders over the “travel ban”, this means more diversions, more uncertainties for the markets to absorb and react to.\r\n\r\nGreat jobs numbers all around in the USA last week. ADP and NFP blow out numbers. Wage growth was not a good number when it was released at the same time as NFP and the markets reacted poorly. It was too big of a negative reaction in my opinion. I expected with these numbers to see the DXY back at 101.00. We closed the week at 99.73.\r\n\r\nMy fear moving forward is the FED will remain on hold for most, if not all, of this year. This is a change in monetary policy for the USA and will suit the TRUMP plans to keep the USD weaker.\r\n\r\nThe FOMC held rates unchanged last week and Janet Yellen was quite dovish in her language used in the released monetary policy statement. This is at the root of a sea-change that I believe is starting to happen.\r\n\r\nI can see confrontation ahead between TRUMP and the FED which will of course call into question the independence of the FED. TRUMP could not give a rat’s ass about that, he wants total control.  This ripple of a change that we are witnessing at the moment could be a full-blown tsunami within days if TRUMP starts on the TWEETS with FED policies, Yellen and the FOMC.\r\n\r\nFED monetary policy worries me; I am NOT convinced. I do NOT care what the clever people on BLOOMBERG and CNBC say. They all got TRUMP wrong and the effects of TRUMP wrong. The FED can change policy based on uncertain markets and domestic policy. They could re-assess inflation targets to 3.5-4% given the massive changes planned by the TRUMP administration. That means rates possibly on hold until 2019.\r\n\r\nIf Janet Yellen wants to keep her job she may have no choice.\r\n\r\nJanet Yellen is a dove; she always will be. It’s easier to be a dove than a hawk. TRUMP wants a weak USD. Low rates forever gives him this. FED policy could be changing. Otherwise Janet Yellen…you’re fired!!\r\n\r\nThis is a biggie.\r\n\r\nTake care and maybe re-evaluate your tactics. I am in the middle right now of looking at my trading plan moving forward reassessing my risks.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #126 PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> February 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;','TRUMPANTICS','','inherit','closed','closed','','9075-revision-v1','','','2017-02-05 07:42:33','2017-02-05 12:42:33','',9075,'http://weeklyfxdrivethru.com/9075-revision-v1/',0,'revision','',0),(9078,1,'2017-02-05 08:16:36','2017-02-05 13:16:36','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that what we witnessed over the past 7 days was a typical week in the life of a Forex trader would be rather misleading in my view. It was a challenge. A challenge from many aspects, and dare I say it, moving forward, probably a typical example of what we are going to have to deal with.\r\n\r\nAs a longer-term position trader at heart, I have struggled with this approach off and on since the financial crash of 2008-9. At the moment, I am adapting to the TRUMP approach. That statement covers a multitude of factors. Like many traders I was wrongly positioned with trades at the outset of 2017, and I have been working my exits. I believe it will take me a couple of months to re-position myself for moving forward and I have my plan formulated.\r\n\r\nWith trading, I always have a trading plan. People may not agree with it, but as long as I have my plan, I have something to trade with and I have my goals. Forex trading is long haul for me. If I have to sit back for a week or so… so be it. Forcing trades is NOT the answer.\r\n\r\nWe are trading in very difficult times; I know of three traders who ended trading Forex last week. It is hard, challenging and just to keep your head above water is a good result in my opinion at the moment. If like me, you are losing money, you are not alone. At least I will tell you how it is. I want to remain truthful to you on how I am doing. I have been here before and I got through it, and by the end of this year I will be back in black again pushing the 10,000 pips profit goal. But bear in mind many traders are being squeezed out and accounts are being nullified.\r\n\r\nThe larger institutions were trying to exit upside down positioning last month and this added to the volatile quite strange moves at times. As retail traders, we operate on their coat tails. If the market moves are directionally difficult to understand and we try to follow blindly, this is no better than gambling in my opinion. For this reason, I can understand many retail traders getting caught up in moves and many would have had the rug pulled from beneath them in the volatility.\r\n\r\nYou hear traders sometimes say they love volatility. This is basically on most occasions nothing more than pure bravado. I have a massive issue at times about supporting such statements. I trade to make money. I could not give a sh*t about volatility, I want direction. Volatility to me means winners and losers… that is gambler talk. There is a place for gamblers it’s called Las Vegas, off you go. Very simply “Direction = Money and Money = Profits”.\r\n\r\nLast month, I recorded a loss of 793 pips. There may be slight losses again in February as I work out of older trades with my trade plan. But these losses should be slight as new trade profits will cover the old trade losses… at least that is my plan!!\r\n\r\nBefore TRUMP and after TRUMP thankfully, I have been trading nothing more than between 10% and at the most only 50% usual position sizes, This has helped, financial losses have been small and manageable but pip losses higher than usual as I work through my positions to exit.\r\n\r\nI am therefore in transit mode for Q1 2017. I will write about this next week.\r\n\r\nPREMIUM SERVICE subscribers know already that for the latter part of last week I was enduring computer work on my main machine, and it has been offline for the past 60 hours or so. What was deemed to be a software issue due to a bad upgrade which was mainly affecting “Office for Mac” and “MacMail” turning out to be an exacerbated issue as my fusion trade connection was malfunctioning. “Bloody Technology”, as someone commented to me last week… yes indeed. Since buying the most expensive machine possible from Apple, since the sierra ios upgrade, I have had 4 months of hell. It is now fixed? Not sure, I still have to complete the re-build. You forget that you have so much on your machines. Adding back stuff will be on-going for a while.\r\n\r\nThe bottom line was that yesterday; I did not think that I would have any sort of blog delivered. This week’s DRIVE THRU is short but I am happy to have gotten something out within the time constraints available.\r\n\r\nMoving on…\r\n\r\nI am going to use the week in the USA “TRUMPANTICS” as my “SOAPBOX” piece this week, as I did not have time to research and prepare an article. This would have normally been included here in this section.\r\n\r\nUSA aside…\r\n\r\nThe BOJ held policy and defended TRUMP finger pointing as currency manipulators.\r\n\r\nThe BREXIT was the other main issue last week. The BOE, and JCB driver extraordinaire BOE Governor Mark Carney issued his Inflation Report and Policy statement.\r\n\r\nVery soon, Carney is going to appear wearing his kickers over his suit pants and a cape over his jacket. Jesus, Mary and Joseph… watching Carney at times it’s a case of “I love me who do you love?” Bring on the dry ice and play “Jesus Take The Wheel” on his entry to these meetings, they are times dramatic and delivered almost in a style as if he was on a Broadway or West End stage. What’s next pure theatrics.\r\n\r\nThe bottom line was that Theresa May with all the huff ‘n puff over a hard BREXIT (I still do not get this soft or hard BREXIT crap) was firmly put in its place by a dramatic reality check by Carney. The cable pulled back from the brink of a test of 1.2775 to now sitting just below 1.2500 at the close of the week.\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nIf I were critiquing my performance, I would say broadcast #2 was better than #1. Much less technical. #3 should see further improvements\r\n\r\n#3 is on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017.png\"><img class=\"aligncenter size-large wp-image-9066\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017-1024x953.png\" alt=\"\" width=\"1024\" height=\"953\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt’s all Commodity currency related this week for me.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>AUD - RBA: We have an interest rate decision; a rate statement a Monetary Policy statement and Governor Lowe also has a session in front of the gathering press.\r\nTherefore; it\'s a busy week “down-under” so to speak.\r\nI am not expecting any change in policy other than confirmation of a neutral position looking to keep rates unchanged this year.</li>\r\n 	<li>NZD - RBNZ: That charming man Graeme Wheeler will be in the drinks cabinet again pulling out a few bottles of Cloudy Bay for the gathering press ensemble to hear him drone on about how 80% of exchange rate control is out of his hands. I am not expecting any major changes at all.\r\nWe also have the dairy auction prices to look at as well prior to Wheeler’s soiree. But the bigger news should be the RBNZ for obvious reasons.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>CAD: We have Trade balance and Jobs data this week. These two pieces of data are key for me. TRUMP is dominating the CAD at the moment with pipeline executive orders and trade agreement bullying.\r\nYer man from the BOC, Governor Stephen Poloz will be an anxious on looker this week to see does his recent comment about interest rate cuts need to be moved up a notch or two.\r\nIf it weren’t for TRUMP and OIL, the CAD would be a great trade longer-term!\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.</li>\r\n</ol>\r\nNothing major on the docket vis-a-vis the US this week. However, I am certain THE DONALD will fill the void. In addition, do NOT rule out BREXIT and the EUROZONE.  These three geopolitical heavyweights can turn markets on a dime.\r\n\r\nUncertainty and, to a large extent, confusion rules!\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017.png\"><img class=\"aligncenter size-large wp-image-9067\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017-1024x793.png\" alt=\"\" width=\"1024\" height=\"793\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9069\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9070\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9068\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9071\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9072\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9073\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9074\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong><strong>\r\n\r\n</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>TRUMPANTICS</strong></p>\r\nLast week world news was once again being dominated by “TRUMPANTICS”. We are dealing with a child as a President. I admire the fact that for once someone in office is doing what they said they would do, however, like his policies or not, that is refreshing. It is the fact that he cannot conduct himself in a Presidential matter that takes a lot of getting used to and the TWEETS we just should adjust to.\r\n\r\nWe now have Federal Judges involved with the Executive Orders over the “travel ban”, this means more diversions, more uncertainties for the markets to absorb and react to.\r\n\r\nGreat jobs numbers all around in the USA last week. ADP and NFP blow out numbers. Wage growth was not a good number when it was released at the same time as NFP and the markets reacted poorly. It was too big of a negative reaction in my opinion. I expected with these numbers to see the DXY back at 101.00. We closed the week at 99.73.\r\n\r\nMy fear moving forward is the FED will remain on hold for most, if not all, of this year. This is a change in monetary policy for the USA and will suit the TRUMP plans to keep the USD weaker.\r\n\r\nThe FOMC held rates unchanged last week and Janet Yellen was quite dovish in her language used in the released monetary policy statement. This is at the root of a sea-change that I believe is starting to happen.\r\n\r\nI can see confrontation ahead between TRUMP and the FED which will of course call into question the independence of the FED. TRUMP could not give a rat’s ass about that, he wants total control.  This ripple of a change that we are witnessing at the moment could be a full-blown tsunami within days if TRUMP starts on the TWEETS with FED policies, Yellen and the FOMC.\r\n\r\nFED monetary policy worries me; I am NOT convinced. I do NOT care what the clever people on BLOOMBERG and CNBC say. They all got TRUMP wrong and the effects of TRUMP wrong. The FED can change policy based on uncertain markets and domestic policy. They could re-assess inflation targets to 3.5-4% given the massive changes planned by the TRUMP administration. That means rates possibly on hold until 2019.\r\n\r\nIf Janet Yellen wants to keep her job she may have no choice.\r\n\r\nJanet Yellen is a dove; she always will be. It’s easier to be a dove than a hawk. TRUMP wants a weak USD. Low rates forever gives him this. FED policy could be changing. Otherwise Janet Yellen…you’re fired!!\r\n\r\nThis is a biggie.\r\n\r\nTake care and maybe re-evaluate your tactics. I am in the middle right now of looking at my trading plan moving forward reassessing my risks.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong><strong> </strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #230 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> February 2017<strong>\r\n</strong>','TRUMPANTICS','','publish','open','closed','','trumpantics','','','2017-02-05 08:16:36','2017-02-05 13:16:36','',0,'http://weeklyfxdrivethru.com/?p=9078',0,'post','',0),(9079,1,'2017-02-05 08:16:36','2017-02-05 13:16:36','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that what we witnessed over the past 7 days was a typical week in the life of a Forex trader would be rather misleading in my view. It was a challenge. A challenge from many aspects, and dare I say it, moving forward, probably a typical example of what we are going to have to deal with.\r\n\r\nAs a longer-term position trader at heart, I have struggled with this approach off and on since the financial crash of 2008-9. At the moment, I am adapting to the TRUMP approach. That statement covers a multitude of factors. Like many traders I was wrongly positioned with trades at the outset of 2017, and I have been working my exits. I believe it will take me a couple of months to re-position myself for moving forward and I have my plan formulated.\r\n\r\nWith trading, I always have a trading plan. People may not agree with it, but as long as I have my plan, I have something to trade with and I have my goals. Forex trading is long haul for me. If I have to sit back for a week or so… so be it. Forcing trades is NOT the answer.\r\n\r\nWe are trading in very difficult times; I know of three traders who ended trading Forex last week. It is hard, challenging and just to keep your head above water is a good result in my opinion at the moment. If like me, you are losing money, you are not alone. At least I will tell you how it is. I want to remain truthful to you on how I am doing. I have been here before and I got through it, and by the end of this year I will be back in black again pushing the 10,000 pips profit goal. But bear in mind many traders are being squeezed out and accounts are being nullified.\r\n\r\nThe larger institutions were trying to exit upside down positioning last month and this added to the volatile quite strange moves at times. As retail traders, we operate on their coat tails. If the market moves are directionally difficult to understand and we try to follow blindly, this is no better than gambling in my opinion. For this reason, I can understand many retail traders getting caught up in moves and many would have had the rug pulled from beneath them in the volatility.\r\n\r\nYou hear traders sometimes say they love volatility. This is basically on most occasions nothing more than pure bravado. I have a massive issue at times about supporting such statements. I trade to make money. I could not give a sh*t about volatility, I want direction. Volatility to me means winners and losers… that is gambler talk. There is a place for gamblers it’s called Las Vegas, off you go. Very simply “Direction = Money and Money = Profits”.\r\n\r\nLast month, I recorded a loss of 793 pips. There may be slight losses again in February as I work out of older trades with my trade plan. But these losses should be slight as new trade profits will cover the old trade losses… at least that is my plan!!\r\n\r\nBefore TRUMP and after TRUMP thankfully, I have been trading nothing more than between 10% and at the most only 50% usual position sizes, This has helped, financial losses have been small and manageable but pip losses higher than usual as I work through my positions to exit.\r\n\r\nI am therefore in transit mode for Q1 2017. I will write about this next week.\r\n\r\nPREMIUM SERVICE subscribers know already that for the latter part of last week I was enduring computer work on my main machine, and it has been offline for the past 60 hours or so. What was deemed to be a software issue due to a bad upgrade which was mainly affecting “Office for Mac” and “MacMail” turning out to be an exacerbated issue as my fusion trade connection was malfunctioning. “Bloody Technology”, as someone commented to me last week… yes indeed. Since buying the most expensive machine possible from Apple, since the sierra ios upgrade, I have had 4 months of hell. It is now fixed? Not sure, I still have to complete the re-build. You forget that you have so much on your machines. Adding back stuff will be on-going for a while.\r\n\r\nThe bottom line was that yesterday; I did not think that I would have any sort of blog delivered. This week’s DRIVE THRU is short but I am happy to have gotten something out within the time constraints available.\r\n\r\nMoving on…\r\n\r\nI am going to use the week in the USA “TRUMPANTICS” as my “SOAPBOX” piece this week, as I did not have time to research and prepare an article. This would have normally been included here in this section.\r\n\r\nUSA aside…\r\n\r\nThe BOJ held policy and defended TRUMP finger pointing as currency manipulators.\r\n\r\nThe BREXIT was the other main issue last week. The BOE, and JCB driver extraordinaire BOE Governor Mark Carney issued his Inflation Report and Policy statement.\r\n\r\nVery soon, Carney is going to appear wearing his kickers over his suit pants and a cape over his jacket. Jesus, Mary and Joseph… watching Carney at times it’s a case of “I love me who do you love?” Bring on the dry ice and play “Jesus Take The Wheel” on his entry to these meetings, they are times dramatic and delivered almost in a style as if he was on a Broadway or West End stage. What’s next pure theatrics.\r\n\r\nThe bottom line was that Theresa May with all the huff ‘n puff over a hard BREXIT (I still do not get this soft or hard BREXIT crap) was firmly put in its place by a dramatic reality check by Carney. The cable pulled back from the brink of a test of 1.2775 to now sitting just below 1.2500 at the close of the week.\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nIf I were critiquing my performance, I would say broadcast #2 was better than #1. Much less technical. #3 should see further improvements\r\n\r\n#3 is on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017.png\"><img class=\"aligncenter size-large wp-image-9066\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017-1024x953.png\" alt=\"\" width=\"1024\" height=\"953\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt’s all Commodity currency related this week for me.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>AUD - RBA: We have an interest rate decision; a rate statement a Monetary Policy statement and Governor Lowe also has a session in front of the gathering press.\r\nTherefore; it\'s a busy week “down-under” so to speak.\r\nI am not expecting any change in policy other than confirmation of a neutral position looking to keep rates unchanged this year.</li>\r\n 	<li>NZD - RBNZ: That charming man Graeme Wheeler will be in the drinks cabinet again pulling out a few bottles of Cloudy Bay for the gathering press ensemble to hear him drone on about how 80% of exchange rate control is out of his hands. I am not expecting any major changes at all.\r\nWe also have the dairy auction prices to look at as well prior to Wheeler’s soiree. But the bigger news should be the RBNZ for obvious reasons.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>CAD: We have Trade balance and Jobs data this week. These two pieces of data are key for me. TRUMP is dominating the CAD at the moment with pipeline executive orders and trade agreement bullying.\r\nYer man from the BOC, Governor Stephen Poloz will be an anxious on looker this week to see does his recent comment about interest rate cuts need to be moved up a notch or two.\r\nIf it weren’t for TRUMP and OIL, the CAD would be a great trade longer-term!\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.</li>\r\n</ol>\r\nNothing major on the docket vis-a-vis the US this week. However, I am certain THE DONALD will fill the void. In addition, do NOT rule out BREXIT and the EUROZONE.  These three geopolitical heavyweights can turn markets on a dime.\r\n\r\nUncertainty and, to a large extent, confusion rules!\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017.png\"><img class=\"aligncenter size-large wp-image-9067\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017-1024x793.png\" alt=\"\" width=\"1024\" height=\"793\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9069\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9070\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9068\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9071\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9072\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9073\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9074\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong><strong>\r\n\r\n</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>TRUMPANTICS</strong></p>\r\nLast week world news was once again being dominated by “TRUMPANTICS”. We are dealing with a child as a President. I admire the fact that for once someone in office is doing what they said they would do, however, like his policies or not, that is refreshing. It is the fact that he cannot conduct himself in a Presidential matter that takes a lot of getting used to and the TWEETS we just should adjust to.\r\n\r\nWe now have Federal Judges involved with the Executive Orders over the “travel ban”, this means more diversions, more uncertainties for the markets to absorb and react to.\r\n\r\nGreat jobs numbers all around in the USA last week. ADP and NFP blow out numbers. Wage growth was not a good number when it was released at the same time as NFP and the markets reacted poorly. It was too big of a negative reaction in my opinion. I expected with these numbers to see the DXY back at 101.00. We closed the week at 99.73.\r\n\r\nMy fear moving forward is the FED will remain on hold for most, if not all, of this year. This is a change in monetary policy for the USA and will suit the TRUMP plans to keep the USD weaker.\r\n\r\nThe FOMC held rates unchanged last week and Janet Yellen was quite dovish in her language used in the released monetary policy statement. This is at the root of a sea-change that I believe is starting to happen.\r\n\r\nI can see confrontation ahead between TRUMP and the FED which will of course call into question the independence of the FED. TRUMP could not give a rat’s ass about that, he wants total control.  This ripple of a change that we are witnessing at the moment could be a full-blown tsunami within days if TRUMP starts on the TWEETS with FED policies, Yellen and the FOMC.\r\n\r\nFED monetary policy worries me; I am NOT convinced. I do NOT care what the clever people on BLOOMBERG and CNBC say. They all got TRUMP wrong and the effects of TRUMP wrong. The FED can change policy based on uncertain markets and domestic policy. They could re-assess inflation targets to 3.5-4% given the massive changes planned by the TRUMP administration. That means rates possibly on hold until 2019.\r\n\r\nIf Janet Yellen wants to keep her job she may have no choice.\r\n\r\nJanet Yellen is a dove; she always will be. It’s easier to be a dove than a hawk. TRUMP wants a weak USD. Low rates forever gives him this. FED policy could be changing. Otherwise Janet Yellen…you’re fired!!\r\n\r\nThis is a biggie.\r\n\r\nTake care and maybe re-evaluate your tactics. I am in the middle right now of looking at my trading plan moving forward reassessing my risks.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong><strong> </strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #230 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> February 2017<strong>\r\n</strong>','TRUMPANTICS','','inherit','closed','closed','','9078-revision-v1','','','2017-02-05 08:16:36','2017-02-05 13:16:36','',9078,'http://weeklyfxdrivethru.com/9078-revision-v1/',0,'revision','',0),(9080,1,'2017-02-11 07:43:32','2017-02-11 12:43:32','','ECON DATA 12022017','','inherit','open','closed','','econ-data-12022017','','','2017-02-11 16:08:26','2017-02-11 21:08:26','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017.png',0,'attachment','image/png',0),(9081,1,'2017-02-11 07:43:44','2017-02-11 12:43:44','','T CHART 12022017','','inherit','open','closed','','t-chart-12022017','','','2017-02-11 16:09:47','2017-02-11 21:09:47','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017.png',0,'attachment','image/png',0),(9090,1,'2017-02-11 07:46:32','2017-02-11 12:46:32','','AUDUSD D 12022017','','inherit','open','closed','','audusd-d-12022017','','','2017-02-11 16:10:32','2017-02-11 21:10:32','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017.png',0,'attachment','image/png',0),(9091,1,'2017-02-11 07:46:43','2017-02-11 12:46:43','','EURUSD D 12022017','','inherit','open','closed','','eurusd-d-12022017','','','2017-02-11 16:10:08','2017-02-11 21:10:08','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017.png',0,'attachment','image/png',0),(9092,1,'2017-02-11 07:46:54','2017-02-11 12:46:54','','GBPUSD D 12022017','','inherit','open','closed','','gbpusd-d-12022017','','','2017-02-11 16:10:20','2017-02-11 21:10:20','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017.png',0,'attachment','image/png',0),(9093,1,'2017-02-11 07:47:05','2017-02-11 12:47:05','','NZDUSD D 12022017','','inherit','open','closed','','nzdusd-d-12022017','','','2017-02-11 16:10:44','2017-02-11 21:10:44','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017.png',0,'attachment','image/png',0),(9094,1,'2017-02-11 07:47:14','2017-02-11 12:47:14','','USDCAD D 12022017','','inherit','open','closed','','usdcad-d-12022017','','','2017-02-11 16:10:55','2017-02-11 21:10:55','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017.png',0,'attachment','image/png',0),(9095,1,'2017-02-11 07:47:24','2017-02-11 12:47:24','','USDCHF D 12022017','','inherit','open','closed','','usdchf-d-12022017','','','2017-02-11 16:11:05','2017-02-11 21:11:05','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017.png',0,'attachment','image/png',0),(9096,1,'2017-02-11 07:47:33','2017-02-11 12:47:33','','USDJPY D 12022017','','inherit','open','closed','','usdjpy-d-12022017','','','2017-02-11 16:11:15','2017-02-11 21:11:15','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017.png',0,'attachment','image/png',0),(9097,1,'2017-02-11 07:55:43','2017-02-11 12:55:43','','THE PREMIUM SERVICE LOGO 1920x740','','inherit','open','closed','','the-premium-service-logo-1920x740','','','2017-02-11 07:55:43','2017-02-11 12:55:43','',0,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/THE-PREMIUM-SERVICE-LOGO-1920x740.png',0,'attachment','image/png',0),(9098,1,'2017-02-11 07:56:05','2017-02-11 12:56:05','','Currencies Dice On Background Shows Forex','Currency Signs On Green Dice As A Symbol Of Foreign Exchange','inherit','open','closed','','currencies-dice-on-background-shows-forex','','','2017-02-11 07:56:05','2017-02-11 12:56:05','',0,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/HD-LOGO-PREM-SERV.jpg',0,'attachment','image/jpeg',0),(9101,1,'2017-02-11 16:15:50','2017-02-11 21:15:50','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAfter an awful start to 2017 from a trading perspective, as they say “the ship has now steadied itself” (apologies if that is not 100% accurate). I have seen some green/black numbers on my broker account trading balances. It was nothing but red for most of January.\r\n\r\nSo… where do I go from here?\r\n<p style=\"text-align: center;\">“To infinity and beyond”, “The only way is up”,\r\n“Digging in the Dirt”, off to my “Secret World” or maybe “2,000 light years from home?”</p>\r\nThe answer is back to the hard graft taking on board what I have learned about this year’s market so far and the way it reacts based upon TRUMPANTICS.\r\n\r\nIn October 2016, I was speaking with a couple of investors one from Sydney and one from San Francisco on a SKYPE call and we were talking about Forex Trading in general. Whilst I knew that I had adapted a 2016 trading style that was different to 2015, it became apparent that in my first year of the PREMIUM SERVICE 2014, my trade approach was somewhat different than that of 2013. I am not saying that one needs to have camouflage or mimicry abilities each year or for that matter be some sort of chameleon to trade, but these qualities would help!\r\n\r\nBeing able to adapt and change is paramount and a critical success factor for trading longevity. Amongst other trivia such as RISK MANAGEMENT, POSITION SIZING and TRADE PLANS… I jest.\r\n\r\nMoving on…\r\n\r\nThe FX market is without doubt news driven rather than by economic data at the moment. I think that over time TRUMP will understand that he can’t keep delivering ill thought out outbursts on every occasion. He can act business-like when required and I think that sooner or later he will settle down. Notice I placed no timeline here and no; I have not been drinking or smoking something illegal. I write this paragraph because an intelligent person would realize sometimes it is best to say nothing than to create uncertainty. I am making assumptions here, I know.\r\n\r\nI think what helped last week, was that there was a sudden realization that other events around the world mattered. Following a phone call from NICOLAUS COPERNICUS to “THE DONALD” he was told that despite what he thinks he was NOT the centre of the universe.\r\n\r\nThe EUROZONE woes continued with the French elections with Mr. Fillon involved in a scandal concerning jobs for his family, which resulted in far right extremist Marine (Feck off the single currency and leave the EU) Le Pen leading in the opinion polls. With the populist vote on the rise, I would NOT rule out Le Pen with a serious challenge. Stranger things have happened…\r\n\r\nWolfgang aka “the pit bull” Schaeuble (German Finance Minister), has basically opened the door ready to boot GREECE out of the EUROZONE (more on this later in the blog).\r\n\r\nWith other “you’re gonna love it”, “it will be fantastic” news; the antipodean central banks RBA &amp; RBNZ are basically moving away from dovish to neutral. They are far too savvy to go hawkish because they would get steamrollered should Janet Yellen at the FED go hawkish and raise interest rates in the US. Will Yellen raise rates? That is a whole ‘nother’ story as they say.\r\n\r\nBREXIT A50 trigger is moving sweetly through the UK parliamentary process. It has passed through the commons and has now gone for its second reading in the Lords.\r\n\r\nI just have a feeling this weekend’s Sunday papers are going to be a hoot in Europe\r\n\r\nNow some FX broker news…\r\n\r\nNice platform or not; those feckers at FXCM have been caught out and banned from operating in the US.\r\n\r\nThey took a huge amount off me vis-à-vis the CHF peg removal on my GBP/CHF trade. Following the PEG removal and cable FLASH CRASH last year I have heard of so many stories about poor service, that it comes as no surprise.\r\n\r\nIs this the end for FXCM?  I would say no matter what country you operate in many people closed accounts on the US news. If the owners lied to the US regulators, surely they have lied across the globe to other jurisdictions, if they believed for years that they had pulled the wool over US regulators; why wouldn\'t they do the same elsewhere. A leopard never changes its spots.\r\n\r\nThis story will have legs over the coming weeks.\r\n\r\nMore…\r\n\r\nI mentioned last week that I was going to focus in this week’s blog about my transition trades as I adapt to these changing markets. This will possibly be featured in next week’s blog.\r\n\r\nEven more…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nI am now getting to grips with the technology more and more, as time progresses. I am now comfortable with my 30-minute agenda. Basically, I take a “PICKERING” view of the week ahead. I think that having the webinar at the start of the week at the end of day one is possibly the best time to hold such an event. It allows for weekly candle follow through, or not, to take effect; plus, the first daily candle of the week is important in my eyes not just for possible continued sentiment but also for the establishment of any new moves.\r\n\r\n#4 is on Monday 13th February at 5:30PM\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel, Scott Pickering Weekly FX Drive Thru for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\nLast week’s winner which I failed to annotate in the blog: brian@******.co.uk is fully up and running.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017.png\"><img class=\"aligncenter size-large wp-image-9080\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017-1024x947.png\" alt=\"\" width=\"1024\" height=\"947\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>USD: Janet Yellen – Testimony to the Senate Banking Committee with her statement of US Monetary Policy.This should be a “doozy” as no matter what she says she could be upstaged by TRUMPANTICS.\r\n\r\nHowever, let’s face simple economic facts. The US economy is performing basically very well and by all accounts “THE DONALD” is going to splash the cash that US does NOT have, to re-build roads, bridges and airports, which in comparison to Quebec where I live are fecking brilliant. If you want to see pot holes in roads, crumbling bridges, crumbling overpasses and crumbling buildings please put Montreal into your vacation plans. It needs money spent on it; big…’bigly’ money.\r\n\r\nSo, when TRUMP talks about airports in poor shape I can see his point, in New York and some other major hub cities. However, with regards to roads, if you travel from Quebec into Ontario or Quebec south into New York state the difference in the quality of the roads is noticeable at the state/province boundary. Just google it you will see what I mean.\r\n\r\nBack to the point…\r\n\r\nYellen should be pushed on normalization of interest rates policy and this will be the issue that creates most volatility. The fact that the FED seems to have already once again pulled back from three rate increases to possibly just two or my opinion maybe just one this year will attract some attention, or rather it should.</li>\r\n 	<li>GBP: Jobs data is always an important economic barometer and something that governments are held very accountable for more than anything else by most voters.There is also CPI and Retail Sales this week from the UK.\r\n\r\nThe data since last June’s BREXIT vote has mainly shown tremendous resilience with the UK economy. However, I fear it is the hard numbers relating to the capital account etc. from the treasury that interests the markets more moving forward.\r\n\r\nWithout doubt in my opinion the withdrawal of capital from the UK and the movement of labour, which is inevitable in my opinion, will be what influences the direction of the cable exchange rate moving forward. For now, we have the opening act to deal with.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>AUD: Jobs data on Wednesday night. I want to see the AUD/USD back at 0.8000 so I can short it. Nothing more than that. So please let’s have some great numbers!!</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>NZD: Retail Sales. Directly opposite to the AUD/USD, I would like the NZD currency to fall off the cliff (nothing against any kiwi’s reading this blog). Regretfully for me, these numbers look like they could be a beat never mind a failure…argh!!</li>\r\n</ol>\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROXZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\nRemember, get your T-Shirt printed “Uncertainty and confusion rules”\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017.png\"><img class=\"aligncenter size-large wp-image-9081\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017-1024x855.png\" alt=\"\" width=\"1024\" height=\"855\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9091\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9092\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9090\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9093\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9094\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9095\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9096\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a c.30-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI am still in transition. I decided to bank $$$ across all trade styles this week and looked to re-load trade set-ups for hopefully repeating trades.\r\n\r\nI have my longer-term strategy in my thoughts which is now predominantly EUR short based and over the coming weeks you will see set ups taking shape with: -\r\n\r\nEUR/USD, USD/JPY, USD/CHF, EUR/JPY, EUR/GBP and GBP/CHF.\r\n\r\nI am still fascinated by the CAD and I am tempted to look very long term with USD/CAD.\r\n\r\nI am too early for the GBP cross rates but from the middle of Q2 I want to get long GBP/NZD, GBP/CAD and GBP/AUD.  I am thinking of placing small long trades at lower levels to pick up spikes lower on BREXIT volatility. I know it sounds crazy but I do think in the second half of 2016, being long the GBP will be the trade. Before you guys leap in. I still believe we must re-test the lows again first or maybe lower to 1.1500… please bear this in mind.\r\n\r\nI spoke to a couple of you this week via the “PLATINUM” reviews and for me I found these quite refreshing and motivating.\r\n\r\nAs I stated on both occasions for Q1 my goal is to get positive with the PREMIUM SERVICE pips tally. I am NOT for want of a better phrase “going all in”. This is a process and an adjustment period. I will try to put as many stakes in the ground as possible, but we must accept we are being pushed and pulled by a crazy man. Technicals and even Fundamentals are sometimes defeated by the nonsense. We should remain strategic but at the same time exercise a high degree of patience.\r\n\r\nI got my head around what needs to be done and I have my 6-week plan until the end of Q1 in place and slowly but surely it will be become more and more obvious to you what I am trying to achieve.\r\n\r\nMany thanks for the continued support.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nWe are still operating in ranges although, the emphasis and sentiment is trying to change.\r\n\r\nAs stated above I have my TRADING PLAN taking shape not just for Q1 but for the remainder of the year and this will be a great year if my thoughts are correct.\r\n\r\nThe joker “TRUMP” is the only card that can screw with it. To combat this my emphasis is not solely based around the USD majors. This at least should give me my edge.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – I am going to exit this CORE POSITION around 1.0800 – 1.1100. My goal will be to place protected stops on whatever trades I have open when the 1.0800 level is passed.</li>\r\n 	<li>EUR/NZD: - I am holding these trades. This currency pair is a straight on RISK ON – RISK OFF trade and I think that as it is such a small position and risk, it is worth just sitting in at the moment. This pair can move 400 pips a day no problem when it gets its mojo on.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.The bigger picture is that despite encouraging inflation data aside, the EUROZONE is facing major / serious issues ahead.</li>\r\n</ol>\r\n<u>\r\nTHE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar: #4 - Monday February 12th 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event.\r\n\r\nTo access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nIn addition, I will upload the recoding to my YouTube account “The Weekly FX Drive Thru”. It will be there within a few hours of the webinar finishing.\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIVE-TRADES-12022017.png\"><img class=\"aligncenter size-large wp-image-9089\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIVE-TRADES-12022017-789x1024.png\" alt=\"\" width=\"789\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIMIT-ORDERS-12022017.png\"><img class=\"aligncenter size-large wp-image-9088\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIMIT-ORDERS-12022017-703x1024.png\" alt=\"\" width=\"703\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong>THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>“THE PIT BULL” MOVES IN…\r\n</strong><strong>WILL HIS ACTIONS BE NOTED AS HELPFUL\r\n</strong><strong>IN THE HISTORY BOOKS?</strong></p>\r\nI love Wolfgang Schaeuble aka “The Pit Bull”.\r\n\r\nThe German Finance Minister goes places only “THE DONALD” would go. He is the closest to “THE DONALD” in the EUROZONE with regards sticking his oar in whether its required or not.\r\n\r\nLaugh… Holy Mother of God. The management of the EUROZONE can only be compared to a set of chickens running around a farmyard with their heads cut off.\r\n\r\nWho the hell is Schaeuble to tell a member state what to or what not to do? Every time he produces outbursts like this, it does make outsiders believe that the other 18 members of the single currency union are like provinces of Germany. I totally get his position as Finance Minister of Germany, and without doubt Germany is the powerhouse of the union. However, all members of the union are equal per the core documents and whilst Schaeuble can have his opinions, he isn’t even the leader of Germany and the fact that he sits on the Finance Ministers committee chaired by Jeroen Dijsselbloem with regards to the EUROZONE and its funding of GREECE, to me means he is once again over-stepping his mark.\r\n\r\nHowever, on this occasion I ask was it helpful in the long run and should he have been more vocal in this direction 6 years ago?\r\n\r\nMario Draghi, ECB President, had a similar problem with Ewald Nowotny (Austrian Bank Governor) and Jens Weidman (German Bundesbank Governor) undermining what he was trying to achieve a couple of years ago. It is very noticeable these two ECB board members have shut up of late as it is in the best interests of ECB policy for them to do so.\r\n\r\nIn an interview, the issue of a debt haircut for GREECE came up. Schaeuble answered only as he knows how. It has been widely accepted that Schaeuble was showing GREECE the EUROZONE door.\r\n\r\nFrankly Schaeuble and his counterparts on the committee managed by Dijsselbloem have kicked the GREECE can down the road for years, so maybe now is the time for GREECE to leave the EUROZONE and revert to the “Drachma” away from the single-currency. But, why wasn’t GREECE encouraged to leave before? Why did the EUROZONE Finance Ministers keep lending money, creating more and more conditions that the Tsipras led government has no chance of adhering to?\r\n\r\nMy God, it\'s the Lisbon Treaty once again (Article 50 of BREXIT fame contained in it as well) that states that a “debt cut“ violates EUROZONE rules and a country would have to leave the EURO AREA to have one. The EU leaders must have been on acid or an equivalent when the Lisbon treaty was ushered in!\r\n\r\nSo, GREECE is front and centre once again.\r\n\r\nWill the EUROZONE Finance Ministers finally get GREECE resolved? We are in a Mexican stand-off as I see it from a macro viewpoint.\r\n<ul>\r\n 	<li>The IMF are clear from their position stating that in their opinion GREEK reforms promised to creditors are off track. The Tsipras lead Greek government reject this point of view… no surprise there. This mistrust goes all the way back to 2009.</li>\r\n 	<li>Schaeuble is very kind to GREECE. Do what you said you would do when you received your last bailout and all will be OK. GREECE needs the second round of bailout III money soon. The clock is ticking down.</li>\r\n 	<li>The issue with GREECE is not as much about the debt management as it is about remaining competitive in business. This is very difficult, as most businesses must operate without credit. GREECE has long become almost a cash only business environment. This makes it extremely hard to see growth and it opens black market trading and hides the real economy. How can you govern effectively in this environment?</li>\r\n 	<li>The IMF are reluctant to go further with financial support. If the IMF pull out, the Dutch government have said that without IMF continued support the Netherlands will not participate in any revised or updated Greek bailout.</li>\r\n 	<li>Bond yields in Greece are rising once again and time is running out to get a deal done before the EUROZONE elections take hold and hog the news.</li>\r\n</ul>\r\nWhat for GREECE then?\r\n\r\nA debt haircut is required to enable the country to take control of its finances and move forward. I think I wrote this two maybe three years ago. We are now further down a stony, can ridden road and we have greater uncertainty than ever before.\r\n\r\nCan GREECE survive outside of the EUROZONE?\r\n\r\nThey are lovely people and they have a backbone. They have shown tremendous resilience so far. It is however an absolute bloody disaster that 6/7 years later they are probably going to have to do what they should have done on day one.\r\n\r\nHad GREECE left the single currency back in 2009 where would GREECE Be now? You would have to say probably in better shape. GREECE is the classic example that the EUROZONE ‘one size fits all’ approach does not work.\r\n\r\nNow let’s be clear. GREECE did not help itself at times. However, the best solution is to leave the single currency as soon as possible and take control. There will always be buyers of debt and reverting to monetary policy control allows the freedom that GREECE requires to move forward.\r\n\r\nDo we thank the PIT BULL for elevating the debate?\r\n\r\nHistorians may look kindly on this event when the books are written. It could however get lost in the 2017 bigger story about the EUROZONE / EUROPEAN UNION implosion!\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #127 PREMIUM SERVICE\r\nDATE: 12<sup>th</sup> February 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','“THE PIT BULL” MOVES IN…','','publish','open','closed','','pit-bull-moves','','','2017-02-11 16:41:18','2017-02-11 21:41:18','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9101',0,'member_posts','',0),(9102,1,'2017-02-11 16:15:50','2017-02-11 21:15:50','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAfter an awful start to 2017 from a trading perspective, as they say “the ship has now steadied itself” (apologies if that is not 100% accurate). I have seen some green/black numbers on my broker account trading balances. It was nothing but red for most of January.\r\n\r\nSo… where do I go from here?\r\n<p style=\"text-align: center;\">“To infinity and beyond”, “The only way is up”,\r\n“Digging in the Dirt”, off to my “Secret World” or maybe “2,000 light years from home?”</p>\r\nThe answer is back to the hard graft taking on board what I have learned about this year’s market so far and the way it reacts based upon TRUMPANTICS.\r\n\r\nIn October 2016, I was speaking with a couple of investors one from Sydney and one from San Francisco on a SKYPE call and we were talking about Forex Trading in general. Whilst I knew that I had adapted a 2016 trading style that was different to 2015, it became apparent that in my first year of the PREMIUM SERVICE 2014, my trade approach was somewhat different than that of 2013. I am not saying that one needs to have camouflage or mimicry abilities each year or for that matter be some sort of chameleon to trade, but these qualities would help!\r\n\r\nBeing able to adapt and change is paramount and a critical success factor for trading longevity. Amongst other trivia such as RISK MANAGEMENT, POSITION SIZING and TRADE PLANS… I jest.\r\n\r\nMoving on…\r\n\r\nThe FX market is without doubt news driven rather than by economic data at the moment. I think that over time TRUMP will understand that he can’t keep delivering ill thought out outbursts on every occasion. He can act business-like when required and I think that sooner or later he will settle down. Notice I placed no timeline here and no; I have not been drinking or smoking something illegal. I write this paragraph because an intelligent person would realize sometimes it is best to say nothing than to create uncertainty. I am making assumptions here, I know.\r\n\r\nI think what helped last week, was that there was a sudden realization that other events around the world mattered. Following a phone call from NICOLAUS COPERNICUS to “THE DONALD” he was told that despite what he thinks he was NOT the centre of the universe.\r\n\r\nThe EUROZONE woes continued with the French elections with Mr. Fillon involved in a scandal concerning jobs for his family, which resulted in far right extremist Marine (Feck off the single currency and leave the EU) Le Pen leading in the opinion polls. With the populist vote on the rise, I would NOT rule out Le Pen with a serious challenge. Stranger things have happened…\r\n\r\nWolfgang aka “the pit bull” Schaeuble (German Finance Minister), has basically opened the door ready to boot GREECE out of the EUROZONE (more on this later in the blog).\r\n\r\nWith other “you’re gonna love it”, “it will be fantastic” news; the antipodean central banks RBA &amp; RBNZ are basically moving away from dovish to neutral. They are far too savvy to go hawkish because they would get steamrollered should Janet Yellen at the FED go hawkish and raise interest rates in the US. Will Yellen raise rates? That is a whole ‘nother’ story as they say.\r\n\r\nBREXIT A50 trigger is moving sweetly through the UK parliamentary process. It has passed through the commons and has now gone for its second reading in the Lords.\r\n\r\nI just have a feeling this weekend’s Sunday papers are going to be a hoot in Europe\r\n\r\nNow some FX broker news…\r\n\r\nNice platform or not; those feckers at FXCM have been caught out and banned from operating in the US.\r\n\r\nThey took a huge amount off me vis-à-vis the CHF peg removal on my GBP/CHF trade. Following the PEG removal and cable FLASH CRASH last year I have heard of so many stories about poor service, that it comes as no surprise.\r\n\r\nIs this the end for FXCM?  I would say no matter what country you operate in many people closed accounts on the US news. If the owners lied to the US regulators, surely they have lied across the globe to other jurisdictions, if they believed for years that they had pulled the wool over US regulators; why wouldn\'t they do the same elsewhere. A leopard never changes its spots.\r\n\r\nThis story will have legs over the coming weeks.\r\n\r\nMore…\r\n\r\nI mentioned last week that I was going to focus in this week’s blog about my transition trades as I adapt to these changing markets. This will possibly be featured in next week’s blog.\r\n\r\nEven more…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nI am now getting to grips with the technology more and more, as time progresses. I am now comfortable with my 30-minute agenda. Basically, I take a “PICKERING” view of the week ahead. I think that having the webinar at the start of the week at the end of day one is possibly the best time to hold such an event. It allows for weekly candle follow through, or not, to take effect; plus, the first daily candle of the week is important in my eyes not just for possible continued sentiment but also for the establishment of any new moves.\r\n\r\n#4 is on Monday 13th February at 5:30PM\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel, Scott Pickering Weekly FX Drive Thru for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\nLast week’s winner which I failed to annotate in the blog: brian@******.co.uk is fully up and running.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017.png\"><img class=\"aligncenter size-large wp-image-9080\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017-1024x947.png\" alt=\"\" width=\"1024\" height=\"947\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>USD: Janet Yellen – Testimony to the Senate Banking Committee with her statement of US Monetary Policy.\r\n\r\nThis should be a “doozy” as no matter what she says she could be upstaged by TRUMPANTICS.\r\n\r\nHowever, let’s face simple economic facts. The US economy is performing basically very well and by all accounts “THE DONALD” is going to splash the cash that US does NOT have, to re-build roads, bridges and airports, which in comparison to Quebec where I live are fecking brilliant. If you want to see pot holes in roads, crumbling bridges, crumbling overpasses and crumbling buildings please put Montreal into your vacation plans. It needs money spent on it; big…’bigly’ money.\r\n\r\nSo, when TRUMP talks about airports in poor shape I can see his point, in New York and some other major hub cities. However, with regards to roads, if you travel from Quebec into Ontario or Quebec south into New York state the difference in the quality of the roads is noticeable at the state/province boundary. Just google it you will see what I mean.\r\n\r\nBack to the point…\r\n\r\nYellen should be pushed on normalization of interest rates policy and this will be the issue that creates most volatility. The fact that the FED seems to have already once again pulled back from three rate increases to possibly just two or my opinion maybe just one this year will attract some attention, or rather it should.</li>\r\n 	<li>GBP: Jobs data is always an important economic barometer and something that governments are held very accountable for more than anything else by most voters.\r\n\r\nThere is also CPI and Retail Sales this week from the UK.\r\n\r\nThe data since last June’s BREXIT vote has mainly shown tremendous resilience with the UK economy. However, I fear it is the hard numbers relating to the capital account etc. from the treasury that interests the markets more moving forward.\r\n\r\nWithout doubt in my opinion the withdrawal of capital from the UK and the movement of labour, which is inevitable in my opinion, will be what influences the direction of the cable exchange rate moving forward. For now, we have the opening act to deal with.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>AUD: Jobs data on Wednesday night. I want to see the AUD/USD back at 0.8000 so I can short it. Nothing more than that. So please let’s have some great numbers!!</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>NZD: Retail Sales. Directly opposite to the AUD/USD, I would like the NZD currency to fall off the cliff (nothing against any kiwi’s reading this blog). Regretfully for me, these numbers look like they could be a beat never mind a failure…argh!!</li>\r\n</ol>\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROXZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\nRemember, get your T-Shirt printed “Uncertainty and confusion rules”\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017.png\"><img class=\"aligncenter size-large wp-image-9081\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017-1024x855.png\" alt=\"\" width=\"1024\" height=\"855\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9091\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9092\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9090\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9093\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9094\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9095\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9096\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a c.30-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI am still in transition. I decided to bank $$$ across all trade styles this week and looked to re-load trade set-ups for hopefully repeating trades.\r\n\r\nI have my longer-term strategy in my thoughts which is now predominantly EUR short based and over the coming weeks you will see set ups taking shape with: -\r\n\r\nEUR/USD, USD/JPY, USD/CHF, EUR/JPY, EUR/GBP and GBP/CHF.\r\n\r\nI am still fascinated by the CAD and I am tempted to look very long term with USD/CAD.\r\n\r\nI am too early for the GBP cross rates but from the middle of Q2 I want to get long GBP/NZD, GBP/CAD and GBP/AUD.  I am thinking of placing small long trades at lower levels to pick up spikes lower on BREXIT volatility. I know it sounds crazy but I do think in the second half of 2016, being long the GBP will be the trade. Before you guys leap in. I still believe we must re-test the lows again first or maybe lower to 1.1500… please bear this in mind.\r\n\r\nI spoke to a couple of you this week via the “PLATINUM” reviews and for me I found these quite refreshing and motivating.\r\n\r\nAs I stated on both occasions for Q1 my goal is to get positive with the PREMIUM SERVICE pips tally. I am NOT for want of a better phrase “going all in”. This is a process and an adjustment period. I will try to put as many stakes in the ground as possible, but we must accept we are being pushed and pulled by a crazy man. Technicals and even Fundamentals are sometimes defeated by the nonsense. We should remain strategic but at the same time exercise a high degree of patience.\r\n\r\nI got my head around what needs to be done and I have my 6-week plan until the end of Q1 in place and slowly but surely it will be become more and more obvious to you what I am trying to achieve.\r\n\r\nMany thanks for the continued support.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nWe are still operating in ranges although, the emphasis and sentiment is trying to change.\r\n\r\nAs stated above I have my TRADING PLAN taking shape not just for Q1 but for the remainder of the year and this will be a great year if my thoughts are correct.\r\n\r\nThe joker “TRUMP” is the only card that can screw with it. To combat this my emphasis is not solely based around the USD majors. This at least should give me my edge.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – I am going to exit this CORE POSITION around 1.0800 – 1.1100. My goal will be to place protected stops on whatever trades I have open when the 1.0800 level is passed.</li>\r\n 	<li>EUR/NZD: - I am holding these trades. This currency pair is a straight on RISK ON – RISK OFF trade and I think that as it is such a small position and risk, it is worth just sitting in at the moment. This pair can move 400 pips a day no problem when it gets its mojo on.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nThe bigger picture is that despite encouraging inflation data aside, the EUROZONE is facing major / serious issues ahead.</li>\r\n</ol>\r\n<u>\r\nTHE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar: #4 - Monday February 12th 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event.\r\n\r\nTo access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nIn addition, I will upload the recoding to my YouTube account “The Weekly FX Drive Thru”. It will be there within a few hours of the webinar finishing.\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIVE-TRADES-12022017.png\"><img class=\"aligncenter size-large wp-image-9089\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIVE-TRADES-12022017-789x1024.png\" alt=\"\" width=\"789\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIMIT-ORDERS-12022017.png\"><img class=\"aligncenter size-large wp-image-9088\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIMIT-ORDERS-12022017-703x1024.png\" alt=\"\" width=\"703\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong>THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>“THE PIT BULL” MOVES IN…\r\n</strong><strong>WILL HIS ACTIONS BE NOTED AS HELPFUL\r\n</strong><strong>IN THE HISTORY BOOKS?</strong></p>\r\nI love Wolfgang Schaeuble aka “The Pit Bull”.\r\n\r\nThe German Finance Minister goes places only “THE DONALD” would go. He is the closest to “THE DONALD” in the EUROZONE with regards sticking his oar in whether its required or not.\r\n\r\nLaugh… Holy Mother of God. The management of the EUROZONE can only be compared to a set of chickens running around a farmyard with their heads cut off.\r\n\r\nWho the hell is Schaeuble to tell a member state what to or what not to do? Every time he produces outbursts like this, it does make outsiders believe that the other 18 members of the single currency union are like provinces of Germany. I totally get his position as Finance Minister of Germany, and without doubt Germany is the powerhouse of the union. However, all members of the union are equal per the core documents and whilst Schaeuble can have his opinions, he isn’t even the leader of Germany and the fact that he sits on the Finance Ministers committee chaired by Jeroen Dijsselbloem with regards to the EUROZONE and its funding of GREECE, to me means he is once again over-stepping his mark.\r\n\r\nHowever, on this occasion I ask was it helpful in the long run and should he have been more vocal in this direction 6 years ago?\r\n\r\nMario Draghi, ECB President, had a similar problem with Ewald Nowotny (Austrian Bank Governor) and Jens Weidman (German Bundesbank Governor) undermining what he was trying to achieve a couple of years ago. It is very noticeable these two ECB board members have shut up of late as it is in the best interests of ECB policy for them to do so.\r\n\r\nIn an interview, the issue of a debt haircut for GREECE came up. Schaeuble answered only as he knows how. It has been widely accepted that Schaeuble was showing GREECE the EUROZONE door.\r\n\r\nFrankly Schaeuble and his counterparts on the committee managed by Dijsselbloem have kicked the GREECE can down the road for years, so maybe now is the time for GREECE to leave the EUROZONE and revert to the “Drachma” away from the single-currency. But, why wasn’t GREECE encouraged to leave before? Why did the EUROZONE Finance Ministers keep lending money, creating more and more conditions that the Tsipras led government has no chance of adhering to?\r\n\r\nMy God, it\'s the Lisbon Treaty once again (Article 50 of BREXIT fame contained in it as well) that states that a “debt cut“ violates EUROZONE rules and a country would have to leave the EURO AREA to have one. The EU leaders must have been on acid or an equivalent when the Lisbon treaty was ushered in!\r\n\r\nSo, GREECE is front and centre once again.\r\n\r\nWill the EUROZONE Finance Ministers finally get GREECE resolved? We are in a Mexican stand-off as I see it from a macro viewpoint.\r\n<ul>\r\n 	<li>The IMF are clear from their position stating that in their opinion GREEK reforms promised to creditors are off track. The Tsipras lead Greek government reject this point of view… no surprise there. This mistrust goes all the way back to 2009.</li>\r\n 	<li>Schaeuble is very kind to GREECE. Do what you said you would do when you received your last bailout and all will be OK. GREECE needs the second round of bailout III money soon. The clock is ticking down.</li>\r\n 	<li>The issue with GREECE is not as much about the debt management as it is about remaining competitive in business. This is very difficult, as most businesses must operate without credit. GREECE has long become almost a cash only business environment. This makes it extremely hard to see growth and it opens black market trading and hides the real economy. How can you govern effectively in this environment?</li>\r\n 	<li>The IMF are reluctant to go further with financial support. If the IMF pull out, the Dutch government have said that without IMF continued support the Netherlands will not participate in any revised or updated Greek bailout.</li>\r\n 	<li>Bond yields in Greece are rising once again and time is running out to get a deal done before the EUROZONE elections take hold and hog the news.</li>\r\n</ul>\r\nWhat for GREECE then?\r\n\r\nA debt haircut is required to enable the country to take control of its finances and move forward. I think I wrote this two maybe three years ago. We are now further down a stony, can ridden road and we have greater uncertainty than ever before.\r\n\r\nCan GREECE survive outside of the EUROZONE?\r\n\r\nThey are lovely people and they have a backbone. They have shown tremendous resilience so far. It is however an absolute bloody disaster that 6/7 years later they are probably going to have to do what they should have done on day one.\r\n\r\nHad GREECE left the single currency back in 2009 where would GREECE Be now? You would have to say probably in better shape. GREECE is the classic example that the EUROZONE ‘one size fits all’ approach does not work.\r\n\r\nNow let’s be clear. GREECE did not help itself at times. However, the best solution is to leave the single currency as soon as possible and take control. There will always be buyers of debt and reverting to monetary policy control allows the freedom that GREECE requires to move forward.\r\n\r\nDo we thank the PIT BULL for elevating the debate?\r\n\r\nHistorians may look kindly on this event when the books are written. It could however get lost in the 2017 bigger story about the EUROZONE / EUROPEAN UNION implosion!\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #127 PREMIUM SERVICE\r\nDATE: 12<sup>th</sup> February 2017.<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','“THE PIT BULL” MOVES IN…','','inherit','closed','closed','','9101-revision-v1','','','2017-02-11 16:15:50','2017-02-11 21:15:50','',9101,'http://weeklyfxdrivethru.com/9101-revision-v1/',0,'revision','',0),(9560,1,'2017-06-17 05:51:42','2017-06-17 10:51:42','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nIt is great to be back trading again. Apart from my summer breaks I have never taken what really amounted to a six week break before. Not that it was a break, moving home and then being on a vacation some 35+ hours traveling time away is nothing to be sneezed at.\r\n\r\nYou will notice as well, that I have once again changed the running order and format of the blog around… eventually I will settle on a format that I am comfortable with. I have been writing these blogs for five years now and I am still not 100% happy. I live in hope that I will produce a format as smooth a Knob Creek bourbon!\r\n\r\nIt would be wrong of me not to mention Mary, Mark, David, Tom, Joel and Anna from my recent journey to Australia and New Zealand. Meeting fellow traders and PREMIUM SERVICE subscribers was a real buzz for me and the time that they set to one side for lunches, dinners, drinks and tour guide duties were greatly appreciated by my wife and myself. We have great memories and pictures of the occasions to keep. Many thanks guys Breda and I had a blast.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n 	<li><strong> LAST WEEK – MY TAKE ON SOME KEY EVENTS:</strong></li>\r\n</ol>\r\nLast week, I started back at my screens on Tuesday basically catching up with administration matters and re-familiarization of charts etc. Then I announced to subscribers that I would start the next day on Wednesday, back in at the deep end, with a plethora of data releases and of course the FOMC rate announcement and press conference. Yup… I pick the days!!\r\n\r\nAlthough I have been away for about six weeks, nothing much has changed.\r\n\r\nHowever, two key situations are in play that I should address here: -\r\n<ul>\r\n 	<li>USA – DONALD TRUMP PRESIDENCY:\r\n\r\nThe dysfunctional politicians in Washington are hell bent on ensuring that the GOP is distracted from all policy initiatives by initially stalling on cabinet appointments and now the Russian enquiry has superseded all other events with President Trump’s naivety in politics being exposed by career politicians. From the outside looking in the Democrats have decided the best policy is stall and then look for enquiry after enquiry to distract. I must admit Trump may have been able to lie and get away with matters in the TRUMP organization but he cannot do the same as President. He appears to stumble into one elephant trap after another and now he looks clumsy and inefficient. The twitter rants from my perspective does his defence no good it just makes him look childish.\r\n\r\nI am absolutely convinced had HILLARY been victorious the GOP would apply the same tactics to the Democrats as they currently apply to the GOP and TRUMP.\r\n\r\nSo whatever your political persuasion in the “states” you must be frustrated if GOP and delighted if a Democrat supporter. Should “THE DONALD” be impeached or whatever (and that looks a long shot at the moment) and subsequently over time a Democrat returns to the White House., I have no doubt the GOP will frustrate the crap out of the Democrats and the new Democratic President would feel like they were in a log job. Basically; a role reversal.\r\n\r\nA great example of democracy in action for the less well off in the world to gaze on at and laugh at.\r\n\r\nFrom a trading perspective, so much has been promised and moves have happened based upon scenarios that look like a pipe dream at the moment.\r\n\r\nThe attention had been taken off the FED for some time and attention placed at the door of “THE DONALD”. Uncertainty lies ahead; BIG uncertainties. I do however believe we have a small window in 2017 to make pips before Central Bank normalization spreads. I tackle this later on in section 8 of the blog.</li>\r\n 	<li>THE UK – SNAP GENERAL ELECTION:</li>\r\n</ul>\r\nIn the UK. Theresa May the UK Prime Minister bet on increasing her majority in the House of Commons to strengthen her position through the BREXIT negotiations by calling a snap general election. She failed. While she still has the largest party in the House she does not have a working majority. She is forming a strategic voting alliance with the Northern Ireland Democratic Unionist party, which Sinn Fein leader Gerry Adams has already said that such an alliance is in breach of the “Good Friday” agreement between the IRELAND and the North. Deep joy. This has legs and frankly, like it or not I can see another UK election in 2017.\r\n\r\nFrom a trading perspective, the cable is rather difficult to really be convinced one way or the other 100%. I talk a little more about this towards the end of this section of the blog.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nSo back to last week, in particular Wednesday…\r\n\r\nThe equity markets appear to be in denial over TRUMP. Now we have consumers weighing in. Sales and CPi numbers were a disaster and the USD was taken to the woodshed.\r\n\r\nLater in the day, Janet Yellen held a press conference after a well predicted and baked in 0.25% rise in FED funds rate was announced. The Yellen press conference was a HAWKISH AFFAIR, the FOMC appear hell bent on raising rates and have “something behind the clock” in the event that the TRUMP administration collapses on the back of an impeachment trial, resignation or US recession or the like of something similar that would cause markets to jitter.\r\n\r\nFrom my perspective; data dependency and how the rest of the world looks economically are now both out of the window as reasons not to hike anymore. Even Janet Yellen who sounds DOVISH when delivering HAWKISH sentiments put all that behind her and went for the HAWKISH tone right through the statement, opening remarks to the press conference and basically when answering questions afterwards.\r\n\r\nThe result of this break from normality, especially when she talked openly about reducing the FED‘s balance sheet, sent the USD higher reversing the losses resulting from poor sales data.\r\n\r\nFollowing this rate hike and confirmation that the FOMC want at least one more this year plus the balance sheet reduction and proposed further rate hikes in 2018, does this mean that Central Bank convergence trade is now on?\r\n\r\nRead my thoughts on this later in THE SOAPBOX.\r\n\r\nThen Thursday brought in Mark Carney with the latest BOE policy summary, MPC vote and Bank rate announcement.\r\n\r\nNo surprises with the interest rate remaining at 0.25%, but the vote to remain unchanged instead of being 7-1 as usual was now 5-3. This caused cable to rally 100 pips in a matter of seconds. During the day, it gave back 50% of these gains but the card is now marked. My thoughts on cable are changing. I am like a child on Christmas morning with two toys I want to play with but I can only play with one at a time. I want to be both short and long cable.\r\n\r\nBREXIT has not yet started and part of me things that cable still has a lower level to test first. My other side tells me to buy a dip and get long because there are thousands of pips across the cable crosses to be made.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE WEEKLY FX DRIVE THRU – LIVE WEBINAR:</strong></li>\r\n</ol>\r\nI am happy to announce that the WEEKLY LIVE WEBINAR series will start again on: -\r\n\r\n<u>Monday 19th June at 5:30PM EST</u>\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\n<u>THIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/ECON-DATA-18062017.png\"><img class=\"aligncenter size-large wp-image-9531\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/ECON-DATA-18062017-1024x997.png\" alt=\"\" width=\"1024\" height=\"997\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE ECONOMIC DATA EVENTS THIS WEEK:</u>\r\n\r\nLooking at what is on the timetable this week really has me focused on just two currencies, Cable and the Kiwi dollar.\r\n<ol>\r\n 	<li>NZD: I am not expecting the RBNZ to move on interest rates but the comments from Graeme Wheeler (CB Governor) will be interesting to follow.\r\n\r\nIn the past Wheeler has eluded to the fact that about 80% of the movement in the NZD/USD exchange rate is out of the control of the RBNZ.\r\n\r\nMy problem with Wheeler is that his press conferences remind me of my banker’s days of old when the chaps would just sit around and see who could load the most plums into their mouths and talk with a “lardy-da” accent to try and sound the most upper class as possible. (BOC meetings are very similar). These thoughts deflect my attention… However, when I read any of the statements they are so low on content anyhow maybe they are loading up the plums!!\r\n\r\nBottom line; if Wheeler wants the exchange rate of the NZD/USD closer to 0.6500 than 0.7500, which he has said is preferred, he needs to deliver an unequivocal without possible mis-interpretation language to the chaps in the room knocking back either a Central Otago Pinot Noir or Marlborough Sauvignon Blanc. If previous meetings are anything to go on, he seems unable to deliver on this. He may be a great host on the vino but communicating his policy not so good.\r\n\r\nLet’s see what happens this time.</li>\r\n 	<li>CAD: Both Retail Sales and CPi this week.\r\n\r\nThe word on the street is that the BOC could be raising rates. This is not surprising given the geographical proximity to the USA.\r\n\r\nIs the Canadian economy ready for a rate hike, that is the question?\r\n\r\nIt may do something to slow down the housing squeeze but 0.25% is feck all in the grand scheme of things in my opinion.\r\n\r\nCertainly the CAD economic data appears to moving in the right direction, although one should not get carried away. Only four months ago Stephen Poloz the BOC Governor was talking about rate cuts!\r\n\r\nShould WTi drop below $40.00 a barrel rate hikes will be off and the BOC will have to re-think its strategy away from saying everything is transitory!\r\n\r\nIf these numbers miss. The CAD will weaken a great deal as the markets will rule out a rate hike. However, strong data opens up a whole new ball game for BOC especially if OIL falls through $40.00.</li>\r\n</ol>\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS TO NOTE THIS WEEK:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/TCHART-18062017.png\"><img class=\"aligncenter size-large wp-image-9532\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/TCHART-18062017-1024x853.png\" alt=\"\" width=\"1024\" height=\"853\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/EURUSD-D-18062017.png\"><img class=\"aligncenter size-large wp-image-9541\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/EURUSD-D-18062017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/GBPUSD-D-18062017.png\"><img class=\"aligncenter size-large wp-image-9542\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/GBPUSD-D-18062017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/AUDUSD-D-18062017.png\"><img class=\"aligncenter size-large wp-image-9540\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/AUDUSD-D-18062017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/NZDUSD-D-18062017.png\"><img class=\"aligncenter size-large wp-image-9543\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/NZDUSD-D-18062017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/USDCAD-D-18062017.png\"><img class=\"aligncenter size-large wp-image-9544\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/USDCAD-D-18062017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/USDCHF-D-18062017.png\"><img class=\"aligncenter size-large wp-image-9545\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/USDCHF-D-18062017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/USDJPY-D-18062017.png\"><img class=\"aligncenter size-large wp-image-9546\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/06/USDJPY-D-18062017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nSo; if nothing else, I tell it how it is. I am only currently at about 30% of my target for this time of the year. I had a poor start to the year and I have yet to recover.\r\n\r\nIn 2014, 2015 and 2016 I beat my 10,000 pip per annum objective. There is nothing stopping me doing the same this year as my house move and vacation are both behind me. I will be trading pretty much full time from now on through to the end of 2017. The opportunity to make pips with me is there and as you will see later in this section and on my webpage, I have a special promotion that expires at the end of June called “DOUBLE IT UP”. If you want to be a part of what I hope will be a storming end to 2017, look at my promotion and website and get subscribed. I mean business from here on in.\r\n\r\n<u>CURRENT PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nMONTH TO DATE:  +515 pips\r\nYEAR TO DATE:      +1,717 pips\r\n\r\nIf you would like to know a little more visually about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<u>\r\nDO YOU WANT TO JOIN THE PREMIUM SERVICE?\r\n</u>\r\n\r\nThere has never been a better time.\r\n\r\n<strong>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:\r\n</strong><strong>“DOUBLE IT UP”</strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around the time my trading activity would be at its lowest.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nBelow are the dates of the DRIVE THRU blog for the remainder of this year, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong>WANT A FREE PREMIUM SERVICE SUBSCRIPTION?</strong></li>\r\n</ol>\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you should do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nThis can be done as follows: -\r\n\r\nOn my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"7\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:\r\n</strong>(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)</li>\r\n</ol>\r\n<strong>\r\n\r\n</strong>\r\n<ol start=\"8\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong> IS THE CENTRAL BANK DIVERGENCE TRADE FINALLY IN PLAY?</strong>\r\n\r\nBefore starting this piece I thought that I would look back over all the previous blogs and establish the period that I first started talking about Central Bank divergence. Firstly, it was in the time that Ben Bernanke was FED chairman and it was in Q2 2013, I got serious about it Q4 2013 leading into 2014 and the same again in Q4 leading into 2015 and again Q4 2015 leading into 2016. I am nothing but consistent.\r\n\r\nSo; here I am again Q2/Q3 2017 what has rattled my cage this time?\r\n\r\nIt is quite simple really, well I think it is. Here is my logic.\r\n<ul>\r\n 	<li>The FED is normalizing and looks hell bent on continuing to do so for the remainder of 2017 and into 2018. By the end of 2018 the FED funds rate should be closer to 2% maybe 2.5%.</li>\r\n 	<li>At the FOMC press conference last week, the “UBER DOVE”, Janet Yellen even openly discussed reducing the size of the FED’s balance sheet. She talked about an approximate start date and how it would proceed over the coming two/three years.</li>\r\n 	<li>Economically from an inflation perspective the UK, Canada, Australia and New Zealand are all moving upwards.\r\n\r\nThe Deputy governor of the BOC announced that the BOC are looking to raise rates sometime later this year.\r\n\r\nLast week the BOE MPC announced that the vote on maintaining interest rates steady at 0.25% was 5-3 in favour. The market was expecting 7-1. The pressure on the UK to raise rates is therefore growing.\r\n\r\nIn Australia the economy is booming. The pressure to start raising rates is increasing and one could argue a similar case for New Zealand.\r\n\r\nIt is all about the timing.</li>\r\n 	<li>The exceptions at the moment are the ECB, BOJ and SNB.\r\n\r\nFirstly, the ECB is a complicated beast. One could argue interest rates in Germany should now be at 2.5% - 3%. However, you could also argue at the same time rates for the like of Italy, Greece and Cyprus should be 0%.\r\n\r\nHere lies the fundamental problem of the EUROZONE.\r\n\r\nMario Draghi (ECB President) has virtually an impossible conundrum to deal with trying to balance the needs and requirements of the 19 countries that make up the single currency block. He has stated that nothing will change on monetary policy until the end of 2017 at the very earliest.\r\n\r\nWith regards to the BOJ and SNB both central banks are not looking to amend interest rates this year.</li>\r\n</ul>\r\nTherefore, as the second and third largest central banks (ECB and BOJ) behind the FED will not be changing their policy on interest rates any time soon, we could have a window of opportunity. How long in time is this window? I believe up to the time that the FED starts to reduce its balance sheet size. Conservatively between 4 -6 months in my opinion.\r\n\r\nAs soon as the FED really kicks into its normalization policy the pressure on the BOE, BOC, RBA and maybe the RBNZ to act will grow. Having said this, as the USD strengthens because of FED policy, the other cross currencies will weaken and this will help economies in the short term but inflationary pressures will grow because of currency weakness and will need to be addressed when levels more than 2% are reached. In fact, prior to 2% most Central banks would want to act.\r\n\r\nThe BOE has inflation at 2.6% currently in the UK to cope with, hence the MPC votes 5-3 on the current 0.25% interest rate. But given the BREXIT uncertainties Governor Carney does not want to interfere anymore until greater clarity on the negotiation process is known.\r\n\r\nI believe in the short- term governments and central banks will welcome divergence from the FED, but into the medium-term they would be forced to act and normalize themselves.\r\n\r\nTherefore, assuming my thought process is correct, we should see the DXY move back towards and above the psychological level of 100.00.\r\n\r\nIt will not be a straight line there will be twists and turns along the way as economic data is released.\r\n\r\nThe obvious trade is short EUR/USD. Initially to give me confidence we need to see support 1.1100 broken. This should lead lower to 1.0950. This would be a correction that breaks the recent series of higher lows that we have seen the low of 1.0340 was hit in late 2016.\r\n\r\nI am expecting a pullback in equities to coincide with moves in the USD and when you add in the TRUMP policy uncertainties I am not certain at this stage how the USD/JPY would react. There are plenty of other pairs and cross- rate pairs that would be attractive moving forward.\r\n\r\nSo as you can see we need to see a move in the DXY and EUR/USD to trigger my plan on divergence. Over the coming few days I will have my TRADE PLAN revised ready to go.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"9\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong><strong> </strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #241 FREE NEWSLETTER\r\nDATE: 18th June 2017.\r\n\r\n&nbsp;','IS THE CENTRAL BANK DIVERGENCE TRADE FINALLY IN PLAY?','','publish','open','closed','','central-bank-divergence-trade-finally-play','','','2017-06-17 05:51:42','2017-06-17 10:51:42','',0,'https://weeklyfxdrivethru.com/?p=9560',0,'post','',0),(9822,1,'2017-08-05 05:54:39','2017-08-05 10:54:39','','MKT SENT 06082017','','inherit','open','closed','','mkt-sent-06082017','','','2017-08-05 07:29:30','2017-08-05 12:29:30','',9836,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/MKT-SENT-06082017.png',0,'attachment','image/png',0),(9854,1,'2017-08-05 09:06:30','2017-08-05 14:06:30','<strong>\r\n</strong><strong>\r\n1. INTRODUCTION:</strong>\r\n\r\nI cannot believe that we are into August. This blog is the last one for a few weeks, I return with the “DRIVE THRU” blog on September 3rd, 2017.\r\n\r\nPREMIUM SERVICE subscribers please note that trading will continue through the “DRIVE THRU” break. I do have one or two key domestic action items to fulfil during the break and I will alert you when these are in play.\r\n\r\nMoving on…\r\n\r\nThe BOE “Super Thursday” event is now behind us and despite advising the markets that tightening is on the way, it was obvious due to the reaction in cable falling from around 1.3260 to about 1.3110 in the hour or so after the news was released and Mark Carney’s subsequent press conference, that the markets had priced in a more hawkish BOE. I will cover this event a in little more detail later.\r\n\r\nLooking at money $$$...\r\n\r\nI covered lots of trades ahead of last Friday’s Non-Farm Payrolls and added a positive +691 pips for the first few days of the month. It’s a great start and I am very quickly pulling back my pips shortfall from earlier in the year due to my house move followed almost immediately by a 4-week vacation. There is still some way to go to my 10,000-pip annual objective but I am now almost back to where my pips total should be for this time of the year.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n 	<li><strong> LAST WEEK – MY TAKE ON SOME KEY EVENTS:</strong></li>\r\n</ol>\r\nIn no particular order, here is what floated my boat last week.\r\n<ol>\r\n 	<li>NZD: Jobs Data.The Kiwi has been struggling since the data was released mid-week. Job growth in New Zealand is flat-lining. In Q2 2017, employment fell by 0.2% It was up 1.2% the previous quarter and it was forecasted to be positive this quarter by 0.7%.It was the first contraction in employment since Q3 2015. The participation rate also slid 0.6%.Having only recently visited New Zealand both North and South Islands, the place was buzzing and the dynamics appeared very positive. However, beneath this outer crust and dynamism the wages environment is subdued. In this instance, New Zealand is no different to other developed countries, despite unemployment levels being at historic low levels, wages are just NOT picking up.</li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"2\">\r\n 	<li>AUD: RBA Rate Statement.Dr. Philip Lowe (RBA Governor) kept rates unchanged and kept the commentary neutral. He did however elude to the fact that should the current AUD strength continue, it is likely to weigh on the outlook for output and employment. An appreciating exchange rate would result in a slower pick-up of economic activity and inflation than currently forecasted.Do I read… AUD strength = a growth slowdown?From a currency perspective; I do think that the RBA would prefer a weaker currency (who wouldn’t). With the AUD/USD hitting an 0.8065, the orders for Prozac at the RBA would have increased. A break below 0.7840 (recent breakout level) would ease matters a great deal. Obviously, an AUD/USD exchange rate hovering between 0.7000 and 0.7500 would be preferred by the RBA.</li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li>GBP: BOE and Carney Press Conference.Interest Rate on Hold\r\nMPC 6-2 vote\r\nGrowth forecasts revised lower.\r\nInflation to peak c.3% in October.\r\nInterest Rates may need TO RISE FASTER than markets imply.\r\nUncertainty about BREXIT will weigh on growth.\r\nWages growth market down from 3.5% to 3%.They were the key things that I noted from the Statement and Press Conference.In addition, what made me giggle a bit was Carney’s multiple references to households and businesses taking the lead in reactions to BREXIT uncertainties. He noted that both households and business were taking BREXIT in their stride and that they were both expecting a smooth transition.FFS… my arse.\r\n\r\nHouseholds are more in debt than ever. Wages are not keeping growth in line with inflation. There is great uncertainty.\r\n\r\nBusinesses are using BREXIT as an excuse to limit wage rises on the back of “be grateful you have a job all things considered”.\r\n\r\nIs Threadneedle Street in a time warp?\r\n\r\nThese guys beggar belief. Carney stated that the BOE has spoken to ‘real” people about policies. Who are these people, the Chaps in the local pub in the city around the corner from the BOE?\r\n\r\nThe GBP however was whacked on the BOE statement and the following Press Conference and again on the NFP data, moving lower by almost 250 pips from its pre “Super Thursday” highs.</li>\r\n 	<li>CAD: Jobs Data.It was a small miss on the Canadian data, which, I suppose given how, of late Canadian data has nearly always been a beat was a little surprising. Personally, I welcomed this miss, as it has allowed the USD/CAD to rally (CAD to weaken). I have been waiting very patiently for an entry level short (This entry was posted to PREMIUM SERVICE subscribers POS393). I feel that this level should be achieved early this week.The Trade Balance number at (-3.6 CAD$ Billion versus -1.3 CAD$ billion expected) was a little worrying… but one month does not make up a trend.I am firmly in the camp that the CAD has at least another leg lower and a big one at that.</li>\r\n 	<li>USD: Non-Farm Payrolls data.I suppose my position on the reaction to the data would be “The market was just too heavily positioned the wrong way… far too much USD weakness, and by the looks of things too many USD shorts.The data at 209k new jobs versus 181k predicted once again showed up the difference between ADP and NFP. ADP simply cannot be trusted as an indicator or a barometer when it comes to looking at forecasting NFP. Then again, only a fecking loony would forecast NFP, it\'s a bloody lottery when all said and done…but hang on…maybe it’s not a lottery. At least with a lottery you have a chance!Back on track…Blow out numbers. After the analysts and experts crawled out from beneath their desks and realised this the USD started to strengthen in style (Over 100 points higher).\r\n\r\nWell over, +100 pip moves with EUR/USD, GBP/USD and USD/JPY.\r\n\r\nThe usual suspects crawled out from under rocks to claim that the FED’s rate rise in December is possibility back on. FFS, HMOG, FGS, and JM&amp;J… we are in the middle of summer. Given the fact we have a clown in the White House, I would not be giving forward guidance on a damn thing more than a few hours ahead never mind a few months. I suppose these flutes are not in any way accountable for their predictions and they mostly have no skin in the game, so who cares what they say. In my opinion, this is one reason why CNBC ratings are falling faster than the cable at the moment.\r\n\r\nThe only person to listen to about FED activity in my opinion is Janet Yellen. Ignore the noise.</li>\r\n 	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\n<u>3.1: THIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/ECON-DATA-06082017.png\"><img class=\"aligncenter size-large wp-image-9820\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/ECON-DATA-06082017-1024x888.png\" alt=\"\" width=\"1024\" height=\"888\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2: MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nEconomic data releases this week are a bit thin on the ground.\r\n\r\nHowever, here are my picks of the upcoming week.\r\n<ol>\r\n 	<li>NZD: Those awfully nice chaps at the RBNZ led by Governor Graeme “the dealer” Wheeler has my top pick of the week this week.As I type this, the memorandum will already be circulating at the RBNZ deciding on the choice of wine for this week’s Press Conference and whether to go for cheese or pate. All the local corporate hospitality companies have been moved from orange to red alert to ensure sufficient stemware is on hand. No swigging from the bottles at the RBNZ.On a more serious note...The jobs data last week was a surprising miss. The Kiwi dollar back up at NZD/USD 0.7500 must have had Wheeler pissing conkers. Many traders / analysts / experts? had the NZD/USD trading at 0.7800 testing the May 2015 levels.Nobody expects a rate move from the current 1.75%. It’s all about the commentary. Will Wheeler remain neutral or will he jawbone and go dovish trying to send the NZD/USD back towards 0.7000?\r\n\r\nA couple of weeks ago just prior to the latest drop in the USD, the NZD was showing signs of life to move sharply higher. A spokesperson from the RBNZ said basically “so what” 75%-80% of what the NZD/USD does exchange rate wise is out of the RBNZ control.\r\n\r\nOK… let’s roll out the same flute with the NZD/USD at 0.8000. Would the response be different? As sure as eggs are eggs it would be. There would be jawboning. As soon as dairy exports are threatened the RBNZ will act and like a good central bank they want stability. I would not rule out jawboning at this meeting just to keep the markets in check.\r\n\r\nUnfortunately, Wheelers rate statement and his jawboning never seem to go in tandem. It’s like he speaks with this right hand and writes with his left and neither hand knows what the other hand has done or is doing.\r\n\r\nIt all adds together to give us a news event to follow with interest. The Rate statement is released at 5PM EST and the Press Conference takes place at 6PM EST this Wednesday.</li>\r\n 	<li>USD: PPi and CPi data is released this week. Given that the FED is off its normalization route at the moment (even with the better than expected NFP data). These news items may not have the usual effect on markets other than for 30 minutes or so after the data is released. The FED change and the summer may play a combined role here. Nevertheless, we should be aware of the results.</li>\r\n</ol>\r\n<u>3.3: USD MAJORS – MY SUPPORT &amp; RESISTANCE LEVELS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/TCHART-06082017.png\"><img class=\"aligncenter size-large wp-image-9821\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/TCHART-06082017-1024x845.png\" alt=\"\" width=\"1024\" height=\"845\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>\r\n</strong>EUR/USD:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/EURUSD-D-06082017.png\"><img class=\"aligncenter size-large wp-image-9830\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/EURUSD-D-06082017-1024x558.png\" alt=\"\" width=\"1024\" height=\"558\" /></a>\r\n\r\nGBP/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/GBPUSD-D-06082017.png\"><img class=\"aligncenter size-large wp-image-9831\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/GBPUSD-D-06082017-1024x558.png\" alt=\"\" width=\"1024\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/AUDUSD-D-06082017.png\"><img class=\"aligncenter size-large wp-image-9829\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/AUDUSD-D-06082017-1024x558.png\" alt=\"\" width=\"1024\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/NZDUSD-D-06082017.png\"><img class=\"aligncenter size-large wp-image-9832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/NZDUSD-D-06082017-1024x558.png\" alt=\"\" width=\"1024\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/USDCAD-D-06082017.png\"><img class=\"aligncenter size-large wp-image-9833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/USDCAD-D-06082017-1024x558.png\" alt=\"\" width=\"1024\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/USDCHF-D-06082017.png\"><img class=\"aligncenter size-large wp-image-9834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/USDCHF-D-06082017-1024x558.png\" alt=\"\" width=\"1024\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/USDJPY-D-06082017.png\"><img class=\"aligncenter size-large wp-image-9835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/USDJPY-D-06082017-1024x558.png\" alt=\"\" width=\"1024\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\n<u>4.1: WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\n&nbsp;\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering my suggested trade set-ups and market commentary.\r\n\r\n&nbsp;\r\n\r\n<u>4.1.1: YOUR BENEFITS OF SUBSCRIBING:</u>\r\n\r\nI am obviously biased in this section;\r\n\r\nIn my opinion, it is not just about market commentaries and suggested trade set ups. I want the PREMIUM SERVICE to be different from other providers in the Forex Market.\r\nHow have I created differentiation?\r\n\r\nI am a full-time Forex Trader of over 9 years.\r\nI trade my trades.\r\nI have SKIN in the game.\r\n<strong>BENEFIT FOR YOU – not all service providers are traders. </strong>\r\n\r\nAll my suggested trades are communicated via Twitter through a secure / closed account and confirmed with more back up data for my trades through email. I tell you when I am getting in and I advise you if I am getting out. If you want to copy me, I let you know what I am doing, when I am doing it.\r\n<strong>BENEFIT FOR YOU – Real time trading (24 x 5), regardless of time zone</strong>\r\n\r\nI am NOT an educator. I am a trader first and foremost, but I can help many traders become better at what they do.\r\nForex Trading is repetition and to a large extent it is a daily routine and many times it is quite boring.\r\nTechnical trading of patterns, previous support and resistance levels, Pivot points and Fibonacci levels, they all work. I feel that my successes are based these indicators being used alongside fundamentals. If pushed, I would say that I am a fundamental trader. However, fundamentals alone are not good enough in my opinion. They will eventually work but requires very, very deep pockets. It is the combination of using fundamentals and technical analysis combined that is a winning formula; plus obviously identifying high probability trade set ups.\r\n<strong>BENEFIT FOR YOU – I live for my trades and pass this belief to subscribers</strong><u>\r\n</u>\r\nI offer serious traders additional support such as “one-on-one” coaching: -\r\n\r\nIdentifying Chart Patterns\r\nWhat do candlestick patterns mean?\r\nWhat do single candlesticks signify?\r\nHow do I identify high probability trades?\r\nHow to Manage RISK?\r\nHow to POSITION SIZE effectively?\r\nEffective Account Management and\r\nHow to achieve Market longevity.\r\n<strong>BENEFIT FOR YOU – I want to help you achieve a Trading success</strong>\r\n\r\nI provide Market Commentary – but only when there is something important to communicate about the markets or something that is on my mind to say.\r\nI tell it how it is from my perspective. I do my best to straight talking in every situation.\r\n<strong>BENEFIT FOR YOU - I remove the noise remain informative and focused</strong><u>\r\n</u>\r\n\r\nPREMIUM SERVICE subscribers receive a “FULL VERSION” of this blog that includes sections on: -\r\nMy Market Trading Review (PREMIUM SERVICE progress)\r\nTechnical views plus my fundamental opinions and thoughts moved forward\r\nMarket Sentiment analysis\r\nCore Trades and Core Positions analysis\r\nA review of current LIVE and LIMIT ORDERS\r\n<strong>BENEFIT FOR YOU – It’s open, honest, straight to the point and concise</strong>\r\n\r\nAnnual (Platinum) Subscribers receive, (if they want it) a personal monthly review via SKYPE or FaceTime of the PREMIUM SERVICE trades, an overview of the markets and my FUNDAMENTAL views / ideas moving forward.<strong>\r\nBENEFIT FOR YOU – I welcome interaction it feeds success</strong>\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs.\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>4.2: PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nSo; if nothing else, I tell it how it is. I am currently about 70% of my target for this time of the year. I had a poor start to the year and I am now following a vacation and a protracted house move, in “Pip” recovery mode.\r\n\r\nIn 2014, 2015 and 2016 I beat my 10,000 pip per annum objective. There is nothing stopping me doing the same this year as my house move and vacation are both behind me. I will be trading pretty much full time from now on through to the end of 2017.\r\n\r\nIf you want to be a part of what I hope will be a storming end to 2017, login at my website and get subscribed. I mean business from here on in.\r\n\r\n&nbsp;\r\n\r\n<u>CURRENT PREMIUM SERVICE PERFORMANCE:</u>\r\nMONTH TO DATE:  +691 net pips\r\nYEAR TO DATE:      +4,906 net pips\r\n\r\n<u>\r\n4.2.1: SUBSCRIBING NOW…  HAS BENEFITS:</u>\r\n\r\nEven though I am not producing a “DRIVE THRU” blog for the next three weeks, my subscription periods of 10, 20 or 40 weeks are based around the DRIVE THRU posts.\r\n\r\nTherefore subscribing now really means that your subscription does not start until 3rd September, three weeks’ time. However, between now and them, I am still trading therefore suggested set ups and twitter, email, in fact all communication is open.\r\n\r\nTherefore: -\r\n\r\nA 10-week CAD$500.00 subscription starts 3rd September and would complete on 12th November 2017.\r\n\r\nA 20-week CAD$800.00 subscription would start 3rd September and would complete on 10th February 2018.\r\n\r\nA 40-week CAD$1,250.00 Platinum subscription would start 3rd September and complete on 30th June 2018.\r\n<u>\r\n</u><u>4.3: WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$500.00, all you should do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nThis can be done as follows: -\r\n\r\nOn my welcome page just below my cube logo is where you complete your subscription.\r\n\r\nBecause of my “time out” this month. No freebie subscription this month back in September, in fact the next “DRIVE THRU” blog.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<u>4.4: PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</u><u>\r\n</u>(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4.4.1: TRADING REVIEW:</u>\r\n<u>\r\n4.4.2: MARKET SENTIMENT:</u>\r\n\r\n4.4.3: CORE TRADES:\r\n<u>\r\n4.4.4: PREMIUM SERVICE – CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>\r\n</u>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>\r\nWHAT’S NEXT AFTER THE RECENT BIG MOVES</strong>\r\n\r\n&nbsp;\r\n\r\nWith a title like that it sounds like I have an end of the world type of prediction to follow… you are safe!\r\n\r\nWe are now into the sleepy summer. There are some risks, most of them are geopolitical.\r\n\r\nI have in the main over recent weeks been looking forward predicting a new world… CENTRAL BANK DIVERGENCE, RE-STRUCTURE, RE-ALIGNMENT of the markets and I still believe we are in the throes of this happening despite the recent 72 hours or so in the Forex Market.\r\n\r\nLet’s recap what happened in the immediate past: -\r\n<ul>\r\n 	<li>Mark Carney (BOE, Governor), finally came out and said what needed to be said to put the damn bulls back in their boxes for at least this year.</li>\r\n 	<li>We had a blowout NFP number.</li>\r\n</ul>\r\nThat’s nothing earth shattering. Does the above change my thoughts and views that I have had for the past month or so?\r\n\r\nAbsolutely not; I was bearish and shorting the cable long before “Super Thursday”.\r\n\r\nDid I predict a good NFP?\r\n\r\nI don\'t do predictions and I doubt even David Copperfield or Penn &amp; Teller could magic up an accurate NFP number.\r\n\r\nWe are in transition.\r\n\r\nFrom this Monday I am on 50% leave for the summer until the 1st September. So, what is next?\r\n\r\nOver the next few weeks the big Forex event could be the Jackson Hole Symposium. Initially Mario Draghi (ECB, President) was going to use this event as the place he would talk about the timetable of events within the ECB for a return to interest rate normalization.\r\n\r\nI am not so certain that he will do this. My thought process is basically due to the fact the markets are ready to leap on the back of the single currency and send it to outer space (in forex terms) about 1.2500-1.3000 if the mood takes them. Draghi would literally poop his pants if he thought the EUR/USD would be at 1.2500 in rapid order.\r\n\r\nWe have German elections this Autumn/Fall and whilst German savers would welcome normalization, I would say that EUROZONE exporters primarily based in Germany would be buying “Andrex” and the like, in Costco quantities on a daily basis, as the increase in liquid stools could potentially reach epidemic proportions. Sales of Imodium could go through the roof (This is not investment advice).\r\n\r\nGerman elections is one good reason why Mario Draghi may just provide some B.S. at Jackson Hole.\r\n\r\nMy fear is that “THE DONALD” will create the next big move. It will of course be largely “not surprising” but it will be unpredictable from a timing viewpoint, even though we know about the potential of something happening.\r\n\r\nRight now, given all the geopolitical events in play around the world the markets are complacent. All the U.S. markets are concerned about are 401K valuations and returns, stock valuations mean feck all; we are on the brink once again in my opinion… (RE-STRUCTURE and RE-ALIGNMENT).\r\n<ul>\r\n 	<li>What about China being declared a currency manipulator, now that they failed to intervene effectively with North Korea?</li>\r\n 	<li>What about China getting huge trade restrictions placed upon them by the U.S.?</li>\r\n 	<li>What about North Korea dropping an ICBN on Japan… by mistake or intentionally?</li>\r\n 	<li>What about North Korea taking aim on the continental United States?</li>\r\n 	<li>What about the Russian / U.S. diplomatic expulsion tit for tat getting out of control spilling over into troubles in the “Old Soviet Block?</li>\r\n 	<li>What happens if the Iran / U.S. nuclear deal blows up?</li>\r\n 	<li>TRUMP has sided with Saudi Arabia over the Qatar terrorism claims. What would happen if this dispute escalates and unsettles stability in the region and subsequently OIL production?</li>\r\n</ul>\r\nI have only highlighted US based geopolitical related issues, as usually these would affect all markets to varying degrees. The chances of something happening could be 50-50 from my perspective, but who knows. I have ignored all the investigations and enquiries that shadow the TRUMP administration, these can just flare up at any time without warning, a tweet could kick it off.\r\n\r\nSo; what am I saying?\r\n\r\nJust be on your toes if you are trading over the next three or four weeks. Many traders are away. Many traders simply do not trade the summer.\r\n\r\nMost risks are similar to what we have every summer…  geopolitical. There are more flare up zones than the ones I have listed above, but I do feel that those areas with a TRUMP involvement are more at risk.\r\n\r\nFrom a trading perspective as I have written earlier we are in the throes of a transition. There are entry “Gifts” as I call them on the horizon. Grab them; the EUR/USD in particular, but hold with wider stops than usual to allow for the very thin trading conditions with lower liquidity than usual.\r\n\r\nTake care, back on September 3rd.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #FREE NEWSLETTER\r\nDATE: 6th August 2017.\r\n\r\n&nbsp;','WHAT’S NEXT AFTER THE RECENT BIG MOVES','','publish','open','closed','','whats-next-recent-big-moves','','','2018-02-15 07:11:34','2018-02-15 12:11:34','',0,'https://weeklyfxdrivethru.com/?p=9854',0,'post','',0),(9107,1,'2017-02-11 16:32:32','2017-02-11 21:32:32','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong><strong> </strong></li>\r\n</ol>\r\nAfter an awful start to 2017 from a trading perspective, as they say “the ship has now steadied itself” (apologies if that is not 100% accurate). I have seen some green/black numbers on my broker account trading balances. It was nothing but red for most of January.\r\n\r\nSo… where do I go from here?\r\n<p style=\"text-align: center;\">“To infinity and beyond”, “The only way is up”,\r\n“Digging in the Dirt”, off to my “Secret World” or maybe “2,000 light years from home?”</p>\r\nThe answer is back to the hard graft taking on board what I have learned about this year’s market so far and the way it reacts based upon TRUMPANTICS.\r\n\r\nIn October 2016, I was speaking with a couple of investors one from Sydney and one from San Francisco on a SKYPE call and we were talking about Forex Trading in general. Whilst I knew that I had adapted a 2016 trading style that was different to 2015, it became apparent that in my first year of the PREMIUM SERVICE 2014, my trade approach was somewhat different than that of 2013. I am not saying that one needs to have camouflage or mimicry abilities each year or for that matter be some sort of chameleon to trade, but these qualities would help!\r\n\r\nBeing able to adapt and change is paramount and a critical success factor for trading longevity. Amongst other trivia such as RISK MANAGEMENT, POSITION SIZING and TRADE PLANS… I jest.\r\n\r\nMoving on…\r\n\r\nThe FX market is without doubt news driven rather than by economic data at the moment. I think that over time TRUMP will understand that he can’t keep delivering ill thought out outbursts on every occasion. He can act business-like when required and I think that sooner or later he will settle down. Notice I placed no timeline here and no; I have not been drinking or smoking something illegal. I write this paragraph because an intelligent person would realize sometimes it is best to say nothing than to create uncertainty. I am making assumptions here, I know.\r\n\r\nI think what helped last week, was that there was a sudden realization that other events around the world mattered. Following a phone call from NICOLAUS COPERNICUS to “THE DONALD” he was told that despite what he thinks he was NOT the centre of the universe.\r\n\r\nThe EUROZONE woes continued with the French elections with Mr. Fillon involved in a scandal concerning jobs for his family, which resulted in far right extremist Marine (Feck off the single currency and leave the EU) Le Pen leading in the opinion polls. With the populist vote on the rise, I would NOT rule out Le Pen with a serious challenge. Stranger things have happened…\r\n\r\nWolfgang aka “the pit bull” Schaeuble (German Finance Minister), has basically opened the door ready to boot GREECE out of the EUROZONE (more on this later in the blog).\r\n\r\nWith other “you’re gonna love it”, “it will be fantastic” news; the antipodean central banks RBA &amp; RBNZ are basically moving away from dovish to neutral. They are far too savvy to go hawkish because they would get steamrollered should Janet Yellen at the FED go hawkish and raise interest rates in the US. Will Yellen raise rates? That is a whole ‘nother’ story as they say.\r\n\r\nBREXIT A50 trigger is moving sweetly through the UK parliamentary process. It has passed through the commons and has now gone for its second reading in the Lords.\r\n\r\nI just have a feeling this weekend’s Sunday papers are going to be a hoot in Europe.\r\n\r\nNow some FX broker news…\r\n\r\nNice platform or not; those feckers at FXCM have been caught out and banned from operating in the US.\r\n\r\nThey took a huge amount off me vis-à-vis the CHF peg removal on my GBP/CHF trade. Following the PEG removal and cable FLASH CRASH last year I have heard of so many stories about poor service, that it comes as no surprise.\r\n\r\nIs this the end for FXCM?  I would say no matter what country you operate in many people closed accounts on the US news. If the owners lied to the US regulators, surely they have lied across the globe to other jurisdictions, if they believed for years that they had pulled the wool over US regulators; why wouldn\'t they do the same elsewhere. A leopard never changes its spots.\r\n\r\nThis story will have legs over the coming weeks.\r\n\r\nMore…\r\n\r\nI mentioned last week that I was going to focus in this week’s blog about my transition trades as I adapt to these changing markets. This will possibly be featured in next week’s blog.\r\n\r\nEven more…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nI am now getting to grips with the technology more and more, as time progresses. I am now comfortable with my 30-minute agenda. Basically, I take a “PICKERING” view of the week ahead. I think that having the webinar at the start of the week at the end of day one is possibly the best time to hold such an event. It allows for weekly candle follow through, or not, to take effect; plus, the first daily candle of the week is important in my eyes not just for possible continued sentiment but also for the establishment of any new moves.\r\n\r\n#4 is on Monday 13th February at 5:30PM\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel, Scott Pickering Weekly FX Drive Thru for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\nLast week’s winner which I failed to annotate in the blog: brian@******.co.uk is fully up and running.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017.png\"><img class=\"aligncenter size-large wp-image-9080\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017-1024x947.png\" alt=\"\" width=\"1024\" height=\"947\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>USD: Janet Yellen – Testimony to the Senate Banking Committee with her statement of US Monetary Policy.\r\n\r\nThis should be a “doozy” as no matter what she says she could be upstaged by TRUMPANTICS.\r\n\r\nHowever, let’s face simple economic facts. The US economy is performing basically very well and by all accounts “THE DONALD” is going to splash the cash that US does NOT have, to re-build roads, bridges and airports, which in comparison to Quebec where I live are fecking brilliant. If you want to see pot holes in roads, crumbling bridges, crumbling overpasses and crumbling buildings please put Montreal into your vacation plans. It needs money spent on it; big…’bigly’ money.\r\n\r\nSo, when TRUMP talks about airports in poor shape I can see his point, in New York and some other major hub cities. However, with regards to roads, if you travel from Quebec into Ontario or Quebec south into New York state the difference in the quality of the roads is noticeable at the state/province boundary. Just google it you will see what I mean.\r\n\r\nBack to the point…\r\n\r\nYellen should be pushed on normalization of interest rates policy and this will be the issue that creates most volatility. The fact that the FED seems to have already once again pulled back from three rate increases to possibly just two or my opinion maybe just one this year will attract some attention, or rather it should.</li>\r\n 	<li>GBP: Jobs data is always an important economic barometer and something that governments are held very accountable for more than anything else by most voters.\r\n\r\nThere is also CPI and Retail Sales this week from the UK.\r\n\r\nThe data since last June’s BREXIT vote has mainly shown tremendous resilience with the UK economy. However, I fear it is the hard numbers relating to the capital account etc. from the treasury that interests the markets more moving forward.\r\n\r\nWithout doubt in my opinion the withdrawal of capital from the UK and the movement of labour, which is inevitable in my opinion, will be what influences the direction of the cable exchange rate moving forward. For now, we have the opening act to deal with.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>AUD: Jobs data on Wednesday night. I want to see the AUD/USD back at 0.8000 so I can short it. Nothing more than that. So please let’s have some great numbers!!</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>NZD: Retail Sales. Directly opposite to the AUD/USD, I would like the NZD currency to fall off the cliff (nothing against any kiwi’s reading this blog). Regretfully for me, these numbers look like they could be a beat never mind a failure…argh!!</li>\r\n</ol>\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROXZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\nRemember, get your T-Shirt printed “Uncertainty and confusion rules”\r\n\r\n<u>\r\nUSD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017.png\"><img class=\"aligncenter size-large wp-image-9081\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017-1024x855.png\" alt=\"\" width=\"1024\" height=\"855\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9091\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9092\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9090\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9093\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9094\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9095\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9096\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a c.30-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>“THE PIT BULL” MOVES IN…\r\n</strong><strong>WILL HIS ACTIONS BE NOTED AS HELPFUL\r\n</strong><strong>IN THE HISTORY BOOKS?</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\nI love Wolfgang Schaeuble aka “The Pit Bull”.\r\n\r\nThe German Finance Minister goes places only “THE DONALD” would go. He is the closest to “THE DONALD” in the EUROZONE with regards sticking his oar in whether its required or not.\r\n\r\nLaugh… Holy Mother of God. The management of the EUROZONE can only be compared to a set of chickens running around a farmyard with their heads cut off.\r\n\r\nWho the hell is Schaeuble to tell a member state what to or what not to do? Every time he produces outbursts like this, it does make outsiders believe that the other 18 members of the single currency union are like provinces of Germany. I totally get his position as Finance Minister of Germany, and without doubt Germany is the powerhouse of the union. However, all members of the union are equal per the core documents and whilst Schaeuble can have his opinions, he isn’t even the leader of Germany and the fact that he sits on the Finance Ministers committee chaired by Jeroen Dijsselbloem with regards to the EUROZONE and its funding of GREECE, to me means he is once again over-stepping his mark.\r\n\r\nHowever, on this occasion I ask was it helpful in the long run and should he have been more vocal in this direction 6 years ago?\r\n\r\nMario Draghi, ECB President, had a similar problem with Ewald Nowotny (Austrian Bank Governor) and Jens Weidman (German Bundesbank Governor) undermining what he was trying to achieve a couple of years ago. It is very noticeable these two ECB board members have shut up of late as it is in the best interests of ECB policy for them to do so.\r\n\r\nIn an interview, the issue of a debt haircut for GREECE came up. Schaeuble answered only as he knows how. It has been widely accepted that Schaeuble was showing GREECE the EUROZONE door.\r\n\r\nFrankly Schaeuble and his counterparts on the committee managed by Dijsselbloem have kicked the GREECE can down the road for years, so maybe now is the time for GREECE to leave the EUROZONE and revert to the “Drachma” away from the single-currency. But, why wasn’t GREECE encouraged to leave before? Why did the EUROZONE Finance Ministers keep lending money, creating more and more conditions that the Tsipras led government has no chance of adhering to?\r\n\r\nMy God, it\'s the Lisbon Treaty once again (Article 50 of BREXIT fame contained in it as well) that states that a “debt cut“ violates EUROZONE rules and a country would have to leave the EURO AREA to have one. The EU leaders must have been on acid or an equivalent when the Lisbon treaty was ushered in!\r\n\r\nSo, GREECE is front and centre once again.\r\n\r\nWill the EUROZONE Finance Ministers finally get GREECE resolved? We are in a Mexican stand-off as I see it from a macro viewpoint.\r\n<ul>\r\n 	<li>The IMF are clear from their position stating that in their opinion GREEK reforms promised to creditors are off track. The Tsipras lead Greek government reject this point of view… no surprise there. This mistrust goes all the way back to 2009.</li>\r\n 	<li>Schaeuble is very kind to GREECE. Do what you said you would do when you received your last bailout and all will be OK. GREECE needs the second round of bailout III money soon. The clock is ticking down.</li>\r\n 	<li>The issue with GREECE is not as much about the debt management as it is about remaining competitive in business. This is very difficult, as most businesses must operate without credit. GREECE has long become almost a cash only business environment. This makes it extremely hard to see growth and it opens black market trading and hides the real economy. How can you govern effectively in this environment?</li>\r\n 	<li>The IMF are reluctant to go further with financial support. If the IMF pull out, the Dutch government have said that without IMF continued support the Netherlands will not participate in any revised or updated Greek bailout.</li>\r\n 	<li>Bond yields in Greece are rising once again and time is running out to get a deal done before the EUROZONE elections take hold and hog the news.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nWhat for GREECE then?\r\n\r\nA debt haircut is required to enable the country to take control of its finances and move forward. I think I wrote this two maybe three years ago. We are now further down a stony, can ridden road and we have greater uncertainty than ever before.\r\n\r\nCan GREECE survive outside of the EUROZONE?\r\n\r\nThey are lovely people and they have a backbone. They have shown tremendous resilience so far. It is however an absolute bloody disaster that 6/7 years later they are probably going to have to do what they should have done on day one.\r\n\r\nHad GREECE left the single currency back in 2009 where would GREECE Be now? You would have to say probably in better shape. GREECE is the classic example that the EUROZONE ‘one size fits all’ approach does not work.\r\n\r\nNow let’s be clear. GREECE did not help itself at times. However, the best solution is to leave the single currency as soon as possible and take control. There will always be buyers of debt and reverting to monetary policy control allows the freedom that GREECE requires to move forward.\r\n\r\nDo we thank the PIT BULL for elevating the debate?\r\n\r\nHistorians may look kindly on this event when the books are written. It could however get lost in the 2017 bigger story about the EUROZONE / EUROPEAN UNION implosion!\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong><strong> </strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #231 FREE NEWSLETTER\r\nDATE: 12<sup>th</sup> February 2017.<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','“THE PIT BULL” MOVES IN…','','publish','open','closed','','pit-bull-moves','','','2017-02-11 16:32:32','2017-02-11 21:32:32','',0,'http://weeklyfxdrivethru.com/?p=9107',0,'post','',0),