Good Day,

First of all welcome to all the new subscribers.

&nbsp;

<span style="text-decoration: underline;"><strong>REVIEW:</strong></span>

Yesterday, I started  "OPERATION REDUCE RISK EXPOSURE" ahead of the ECB and NFP data dumps later this week. I had great success yesterday, although, I still have the EUR/AUD to deal with currently about -40 pips. My other target to close prior to the news events mentioned is the EUR/GBP.

I had a great opportunity to exit what I wanted earlier today at the time the ECB CPi and Unemployment data was being released but I admit it...I failed to act, I was trying to be greedy..... Let's hope that today brings me a second opportunity. The GBP/CHF in particular, is painful to watch.

&nbsp;

<span style="text-decoration: underline;"><strong>MARKET OVERVIEW:</strong></span>

It all looks very quiet to me again, not much excitement to report. In any event good news in good news for U.S. equities and bad news is good news for U.S. equities. Commodities fairly flat.

&nbsp;

<span style="text-decoration: underline;"><strong>TRADES ADDED:</strong></span>

FT130
USD/CHF
long at 0.8986
Stop at 0.8900
Limit at 0.9330.

For me this pair is a great example of buying on the dips. The USD/CHF is very bullish right now, and, should the SNB act if Draghi eases this pair should break 0.9000. If this level is taken out it should squeeze.

FT131
USD/SEK
Long at 6.6719
Stop at 6.5400
Limit at 6.9215

Bought as a result of a EUR/USD bounce up to 1.3650

&nbsp;

<span style="text-decoration: underline;"><strong>EUR/USD REVIEW:</strong></span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-MONTHLY-03062014.png"><img class="aligncenter size-large wp-image-3810" src="https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/EURUSD-MONTHLY-03062014-1024x473.png" alt="EURUSD MONTHLY 03062014" width="1024" height="473" /></a>

&nbsp;

&nbsp;

I mentioned on Twitter earlier that I would outline my thoughts on the EUR/USD.

We are in a longer-term downtrend. But...within the downtrend are also within a shorter -term uptrend from thew April 3013 lows of 1.2741.

Key support is at 1.3472 and as long as this level holds, the uptrend could in honesty be expected to resume and a test of 1.4500 is still possible, however,  I feel 1.4000 will be a stiff level to overcome.

On the opposite side of that trade, a break below 1.3477 support to me would indicate that the short uptrend momentum move is over, and completed at 1.3993 (1.4000) (the last ECB meeting by the way!!) and then we are looking very low indeed all the way towards 1.1500, that is where the lower sloping teen line on the chart above takes us.

&nbsp;

Good luck today, try not to get caught. I will tweet ideas , actions etc.

Scott

&nbsp;

&nbsp;