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

</strong>

<strong>DATE: Wednesday 17th September 2014
REF: #90</strong>

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<ol>
	<li><strong> OVERVIEW – INITIAL THOUGHTS:</strong></li>
</ol>
Firstly before starting, I want to welcome the new PREMIUM SERVICE subscribers from last weekend’s presentations in Montreal. There are a few more in the pipeline as well. Welcome on board.

Today is the day.

The eagerly awaited FOMC Press Conference, Statement and Economic Predictions are coming up from 2.00PM (EDT).

Will Janet Yellen remain “dovish” or will she change her verbal’s and become “hawkish”?

Basically, I do not know and neither does anyone else. I have read and watched umpteen different perspectives on this subject and to be frank with you guys….. it’s a little overwhelming trying to gauge the reasoning at times.

Personally, I think that the FED has reached the limit of time on how long they can continue to put off the inevitable. I think that at the very least the language should alter as the economic data from the U.S. has continued to be in the main pretty good. The only poor data is related to CPi, which continues to show zero inflation, or in my language DEFLATION.

Here is my approach for today:
<ol>
	<li>Close all outstanding limit orders…… DONE.</li>
	<li>Review open trades that USD related.
Closed NZD/USD short.
AUD/USD and USD/CAD are still open for now. I will probably close ahead FOMC.</li>
	<li>Review other trades to assess risk.
AUD/NZD – offers no USD risk…leave open.
GBP/NZD – risk is Thursday for Scottish Referendum. I will look to protect profits.</li>
</ol>
Here are the currency pairs and entry levels that are on my RADAR for later.
<ul>
	<li>EUR/USD short around 1.3050 to 1.3100 if it can get there.</li>
	<li>AUD/USD resistances around 0.9120 and NZD/USD at 0.8230 look great short entry points.</li>
	<li>USD/CHF long sub 0.9300 this is also a trade that I will be looking to take.</li>
</ul>
I will have my piece of paper with these numbers written on ready for later.

I have my PLAN….and I will trade my PLAN…or PLAN YOUR TRADES and TRADE YOUR PLAN.

<strong> </strong>
<ol start="2">
	<li><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></li>
</ol>
USD: - FOMC Press Conference, Interest Rate Statement &amp; Economic Predictions.
NZD: - GDP.<strong>

</strong>
<ol start="3">
	<li><strong> EXISTING LIVE TRADES:</strong></li>
</ol>
FT173
AUD/USD
Short
Entry at 0.9022
Stop Loss at 0.9110
Limit at 0.8500
Present Position: 0.9072
Current Profit / Loss Position: -50 pips

FT174
USD/CAD
Long
Entry at 1.1054
Stop Loss at 1.0950
Limit at 1.1250
Present Position: 1.0963
Current Profit / Loss Position: -91 pips

RT143
AUD/NZD
Long
Long at 1.1200
Stop at 1.0950
Limit at 1.1550
Present Price: 1.1086
Current Profit / Loss Position: -114 pips

FUN14
GBP/NZD
Long
Entry at: 1.9800
Stop at: 1.9000
Limit at: 2.2350
Present Price: 1.9950
Current Profit / Loss Position: +150 pips<strong>

</strong>
<ol start="4">
	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>
</ol>
No limit orders ahead of the FOMC.

<strong> </strong><strong> </strong>
<ol start="5">
	<li><strong> FINAL THOUGHTS:</strong></li>
</ol>
Be careful today. Best approach to sit tight until after the data is released.

NZD: GDP is later and I will be watching that. Plus watch the SNB early tomorrow. This could offer up a severe market move in CHF if negative interest rates are mentioned or better still introduced.

<strong> </strong>
<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 goals, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and 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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