<strong><span style="font-size: 14pt;">THE DAILY FX POST</span>
<span style="font-size: 14pt;"> from</span>
<span style="font-size: 14pt;"> THE PREMIUM SERVICE</span></strong>

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<strong>DATE: Wednesday 10th September 2014
REF: #85</strong>

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<ol>
	<li><strong> OVERVIEW – INITIAL THOUGHTS:</strong></li>
</ol>
The cable was hit again in European trading as news of further referendum polls results were being leaked. We established basically a new low of 1.6050 on the GBP/USD. This pair is going to become more and more volatile as we head closer to polling day. Being half English/Scottish and have lived in the UK for 35-40 years I can guarantee you that this weekend the UK press coverage will be epic!

Personally, I would stay away from the GBP this weekend it will be pushed and pulled like crazy at the open Sunday through to polling day. Who knows what headlines / scare tactics etc. that the UK press will bring to the front over this coming weekend.

Having said all of that 1.6150 held as resistance and for those that mirrored my trade overnight you would have banked 50 pips, for those with greater risk tolerance there was up another 50 additional pips on offer.

There are also rumours that the FED is going to change its wording regarding interest rate hikes in the U.S. This will plague traders today.

I have missed the AUD sell off, which annoys me so much because literally every week I traded up to the summer break I was short both the AUD/USD and NZD/USD.

There is AUD and NZD big news to night maybe this will give me an opportunity to get a trade away.

The FX market is skittish so be conscious of that today. I am not looking to add to any trades other than those already placed with brokers and the existing LIVE trades listed below.

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<ol start="2">
	<li><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></li>
</ol>
NZD – RBNZ Interest Rate Statement and Press Conference.
AUD – Unemployment Rate and Employment Change.
CNY – CPi.

<strong> </strong><strong> </strong>
<ol start="3">
	<li><strong> EXISTING LIVE TRADES:</strong></li>
</ol>
FT170
EUR/USD
Short
Entry at: 1.2950
Stop at: 1.3030
Limit at: 1.2760
Present Price: 1.2912
Current Profit / Loss Position: +38 pips

RT143
AUD/NZD
Long
Long at 1.1200
Stop at 1.1020
Limit at 1.1550
Present Price: 1.1117
Current Profit / Loss Position: -83 pips

RT149
USD/CHF
Long
Long at 0.9335
Stop at 0.9250
Limit at 0.9580
Present Price: 0.9379
Current Profit / Loss Position: +44 pips

FUN14
GBP/NZD
Long
Entry at: 1.9800
Stop at: 1.9000
Limit at: 2.2350
Present Price: 1.9626
Current Profit / Loss Position: -174 pips
(My hedge trade is back in play)

<strong> </strong>
<ol start="4">
	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>
</ol>
RT146
AUD/USD
Short at 0.9330)
Stop at 0.9400
Limit at 0.9210

RT147
NZD/USD
Short at 0.8300
Stop at 0.8350
Limit at 0.8000

RT151
USD/JPY
Long at 105.95
Stop at 105.50
Limit at 110.00

RT152
USD/CAD
Long at 1.0950
Stop at 1.0870
Limit at 1.1200

RT153
USD/NOK *
Long
Long at 6.3090
Stop at 6.2650
Limit at 6.3525

RT154
USD/SEK *
Long
Long at 7.0700
Stop at 7.0200
Limit at 7.1300

RT155
USD/MXN *
Long
Long at 13.1550
Stop at 13.1300
Limit at 13.2140

* These trades I will amend limit targets if they enter. At the moment they are at 1:1 risk/reward. I had a problem with my Fib symbol it was not performing properly…technology!!

<strong> </strong><strong> </strong>
<ol start="5">
	<li><strong> FINAL THOUGHTS:</strong></li>
</ol>
Be careful as usual geopolitical events will move the currency market violently today if FEAR hits the markets.
<ol start="6">
	<li><strong> DISCLAIMER:</strong></li>
</ol>
Trading Forex carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if necessary.

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

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