INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(9208, 1, '2017-02-28 16:35:36', '2017-02-28 21:35:36', '', 'FUNDAMENTAL YEAR TO DATE 2014', '', 'inherit', 'open', 'closed', '', 'fundamental-year-to-date-2014-2', '', '', '2017-02-28 16:35:36', '2017-02-28 21:35:36', '', 0, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/FUNDAMENTAL-YEAR-TO-DATE-2014.png', 0, 'attachment', 'image/png', 0),
(9209, 1, '2017-02-28 16:35:57', '2017-02-28 21:35:57', '', 'P&L RATIOS 2014 COMPLETE', '', 'inherit', 'open', 'closed', '', 'pl-ratios-2014-complete-2', '', '', '2017-02-28 16:35:57', '2017-02-28 21:35:57', '', 0, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PL-RATIOS-2014-COMPLETE.png', 0, 'attachment', 'image/png', 0),
(9210, 1, '2017-02-28 16:36:20', '2017-02-28 21:36:20', '', 'RADAR 2014 COMPLETE', '', 'inherit', 'open', 'closed', '', 'radar-2014-complete-2', '', '', '2017-02-28 16:36:20', '2017-02-28 21:36:20', '', 0, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/RADAR-2014-COMPLETE.png', 0, 'attachment', 'image/png', 0),
(9211, 1, '2017-02-28 16:36:41', '2017-02-28 21:36:41', '', 'RISK REWARD RATIONS 2014 YTD', '', 'inherit', 'open', 'closed', '', 'risk-reward-rations-2014-ytd-2', '', '', '2017-02-28 16:36:41', '2017-02-28 21:36:41', '', 0, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/RISK-REWARD-RATIONS-2014-YTD.png', 0, 'attachment', 'image/png', 0),
(9212, 1, '2017-02-28 16:44:06', '2017-02-28 21:44:06', '', 'PIP COMPARISON 2016-2015', '', 'inherit', 'open', 'closed', '', 'pip-comparison-2016-2015', '', '', '2017-02-28 16:44:06', '2017-02-28 21:44:06', '', 0, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PIP-COMPARISON-2016-2015.png', 0, 'attachment', 'image/png', 0),
(9213, 1, '2017-02-28 16:44:30', '2017-02-28 21:44:30', '', 'CONSOLIDATED DEC 2016', '', 'inherit', 'open', 'closed', '', 'consolidated-dec-2016', '', '', '2017-03-03 15:38:57', '2017-03-03 20:38:57', '', 3012, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/CONSOLIDATED-DEC-2016.png', 0, 'attachment', 'image/png', 0),
(9214, 1, '2017-02-28 16:44:57', '2017-02-28 21:44:57', '', 'PREM PROFITS 2014', '', 'inherit', 'open', 'closed', '', 'prem-profits-2014', '', '', '2017-03-03 15:48:28', '2017-03-03 20:48:28', '', 5000, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PREM-PROFITS-2014.png', 0, 'attachment', 'image/png', 0),
(9215, 1, '2017-02-28 16:45:23', '2017-02-28 21:45:23', '', 'PS PROFITs 2015', '', 'inherit', 'open', 'closed', '', 'ps-profits-2015', '', '', '2017-02-28 16:45:23', '2017-02-28 21:45:23', '', 0, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-PROFITs-2015.png', 0, 'attachment', 'image/png', 0),
(9216, 1, '2017-02-28 16:45:48', '2017-02-28 21:45:48', '', 'PS PROFITS 2016', '', 'inherit', 'open', 'closed', '', 'ps-profits-2016', '', '', '2017-03-03 15:47:46', '2017-03-03 20:47:46', '', 5000, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-PROFITS-2016.png', 0, 'attachment', 'image/png', 0),
(9222, 1, '2017-03-03 15:43:32', '2017-03-03 20:43:32', '', 'PREM SERV PROFITS2 FEB17', '', 'inherit', 'open', 'closed', '', 'prem-serv-profits2-feb17', '', '', '2017-03-03 15:45:30', '2017-03-03 20:45:30', '', 3012, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/PREM-SERV-PROFITS2-FEB17.png', 0, 'attachment', 'image/png', 0),
(9225, 1, '2017-03-04 05:13:56', '2017-03-04 10:13:56', '', 'ECON DATA 05032017', '', 'inherit', 'open', 'closed', '', 'econ-data-05032017', '', '', '2017-03-04 06:08:01', '2017-03-04 11:08:01', '', 9242, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017.png', 0, 'attachment', 'image/png', 0),
(9226, 1, '2017-03-04 05:14:21', '2017-03-04 10:14:21', '', 'TCHART 05032017', '', 'inherit', 'open', 'closed', '', 'tchart-05032017', '', '', '2017-03-04 06:08:36', '2017-03-04 11:08:36', '', 9242, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017.png', 0, 'attachment', 'image/png', 0),
(9235, 1, '2017-03-04 05:18:13', '2017-03-04 10:18:13', '', 'AUDUSD D 05032017', '', 'inherit', 'open', 'closed', '', 'audusd-d-05032017', '', '', '2017-03-04 06:09:19', '2017-03-04 11:09:19', '', 9242, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017.png', 0, 'attachment', 'image/png', 0),
(9236, 1, '2017-03-04 05:18:36', '2017-03-04 10:18:36', '', 'EURUSD D 05032017', '', 'inherit', 'open', 'closed', '', 'eurusd-d-05032017', '', '', '2017-03-04 06:08:52', '2017-03-04 11:08:52', '', 9242, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017.png', 0, 'attachment', 'image/png', 0),
(9237, 1, '2017-03-04 05:18:58', '2017-03-04 10:18:58', '', 'GBPUSD D 05032017', '', 'inherit', 'open', 'closed', '', 'gbpusd-d-05032017', '', '', '2017-03-04 06:09:06', '2017-03-04 11:09:06', '', 9242, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017.png', 0, 'attachment', 'image/png', 0),
(9238, 1, '2017-03-04 05:19:24', '2017-03-04 10:19:24', '', 'NZDUSD D 05032017', '', 'inherit', 'open', 'closed', '', 'nzdusd-d-05032017', '', '', '2017-03-04 06:09:31', '2017-03-04 11:09:31', '', 9242, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017.png', 0, 'attachment', 'image/png', 0),
(9239, 1, '2017-03-04 05:19:47', '2017-03-04 10:19:47', '', 'USDCAD D 05032017', '', 'inherit', 'open', 'closed', '', 'usdcad-d-05032017', '', '', '2017-03-04 06:09:42', '2017-03-04 11:09:42', '', 9242, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017.png', 0, 'attachment', 'image/png', 0),
(9240, 1, '2017-03-04 05:20:09', '2017-03-04 10:20:09', '', 'USDCHF D 05032017', '', 'inherit', 'open', 'closed', '', 'usdchf-d-05032017', '', '', '2017-03-04 06:09:53', '2017-03-04 11:09:53', '', 9242, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017.png', 0, 'attachment', 'image/png', 0),
(9241, 1, '2017-03-04 05:20:32', '2017-03-04 10:20:32', '', 'USDJPY D 05032017', '', 'inherit', 'open', 'closed', '', 'usdjpy-d-05032017', '', '', '2017-03-04 06:10:07', '2017-03-04 11:10:07', '', 9242, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017.png', 0, 'attachment', 'image/png', 0),
(9242, 1, '2017-03-04 06:52:23', '2017-03-04 11:52:23', '<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAs we all know and recognize, trading is about consistency, banking $$$, making pips and longevity through effective RISK MANAGEMENT, POSITION SIZING and trading with a TRADE PLAN.\r\n\r\nWhen you break it all down into its main constituent parts it’s actually very simple and straightforward. I have pages and pages referring to the above points on a multiple of PDF documents inside the PREMIUM SERVICE website. I read a few the other day to refresh the validity of the content and I must say albeit that some articles were saved from 2010 and earlier, they are still as relevant today as they were when they were initially posted.\r\n\r\nTrading is basically a formula that needs “tweaking” every now and then but basically it is repetition based around a proven formula.\r\n\r\nBasically, at the outset of 2017. I tweaked (so to speak) to accommodate “THE DONALD”.\r\n\r\nAfter a couple of sticky weeks in January, and reviewing my TRADE PLAN for 2017, I am still in trade transition mode but I am now banking more $$$ and pips.\r\n\r\nAs mentioned recently, I continue to establish CORE POSITIONS for my longer-term trades in e.g. EUR/USD and GBP/USD, and I am happy with the progress so far. I now just need the March 15<sup>th</sup> FOMC meeting out of the way, so that I can complete the longer-term transition outlined a few weeks ago to PREMIUM SERVICE subscribers by the end of Q1.\r\n\r\nI have virtually ignored my day trading trade styles of FLASH and RADAR trades throughout this process. This has been deliberate, based upon the fact that in his earlier days as President, “THE DONALD” created chaos and disorder in the markets and frankly whilst I sit over my screens, I have numerous trades open at any one time and the inclusion of short-term trade styles would just create frustration and annoyance.\r\n\r\nAfter the FOMC meeting, I am hoping like most traders that trading will have a greater clarity moving forward. This should enable a greater trading confidence using the smaller minute charts.\r\n\r\nMoving on…\r\n\r\nLast week was a strange week. I was caught up in the emotion of the “State of The Union” address by “THE DONALD”, at the end of the day it was a 100% Presidential address, even hard line opponents had to applaud on some bi-partisan pledges. Now… whether “THE DONALD” or the Republican Party allow some of the pledges to stand is debatable, but what I will say is that “THE DONALD” has one obvious trait like “MAGGIE”, and that is - he does what he says he is going to do.\r\n\r\nFrom a trading perspective, no fireworks and the markets will always buy promises made, regardless of who says it.\r\n\r\nThere was a lot of FED speak last week ending with Janet Yellen and Stanley Fischer. It was all very positive to moving US interest rates higher sooner rather than later. Even the doves were more hawkish; the most noteworthy in my opinion was Lael Brainard.\r\n\r\nOn Friday, both Yellen and Fischer basically all but said the FED will normalize and raise rates at the March meeting. It was so clear; the markets cannot be surprised. The only annoying factor was that when Yellen finished her Q&amp;A some profit taking took place and the DXY fell lower…. argh!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017.png\"><img class=\"aligncenter size-large wp-image-9244\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017-1024x455.png\" alt=\"\" width=\"1024\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\nIt was fascinating to see that in 4 days the market sentiment for a FED rate increase on March 15<sup>th</sup> moved from 38% to almost 90%. Crazy, and it just shows you what we are dealing with. Very reactionary… almost TRUMP LIKE.\r\n\r\nThe commentary kept the USD bid most of the week. I must admit though as the TRUMP administration and possibly soon to be “Presidential currency manipulator Donald” want the USD weaker, I was waiting upon the tweet to stop the DXY move higher in its tracks. It never happened, TRUMP was so busy with White House leaks, FBI cover ups, Russians in da house and Jeff Sessions having vodka shots, he was probably 100% contained flying from crisis meeting to crisis meeting trying to keep the syrup in position (SYRUP = Cockney rhyming slang – “syrup of fig = wig”).\r\n\r\nApart from the US news the bigger news to dominate the wires related to the UK and the EUROPEAN UNION.\r\n\r\nIn the UK, Theresa May is starting to feel the pinch on BREXIT and its potential fallout. The PMi data this week was mixed but they were over shadowed by the House of Lords amendments to the BREXIT bill and the Scottish Parliament wanting another shot at a referendum on remaining part of the UK.\r\n\r\nThe key support level of 1.2260; the 61.8% Fibonacci level of the 1.2706/1.1987 move, was broken after offering stubborn support opening the way lower for a test of the psychological 1.2000 level and then the October 2016 low of 1.1841.\r\n\r\nEUROPE, was once again dominated by the French elections. I am using EUROPE and all things happening there as my “SOAPBOX” article this week so I will save my comments, views and thoughts for later.\r\n\r\nMore…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #7 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length.\r\n\r\n#7 is on Monday 6<sup>th</sup> March 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 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.: -\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\nFinally, in this section…\r\n<p style=\"text-align: left;\">The March winner of the “FREE 10-week PREMIUM SERVICE” subscription was\r\nbrian*******@gmail.com</p>\r\nBy the time this blog is posted Brain should be loaded up and ready to go.\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/2017/03/ECON-DATA-05032017.png\"><img class=\"aligncenter size-large wp-image-9225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017-1024x873.png\" alt=\"\" width=\"1024\" height=\"873\" /></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 very busy week: -\r\n<ol>\r\n 	<li>USD: Obviously, the star of the week for US data is Friday’s Non-Farm payrolls. No doubt should the number be a blow out one can consider a FED rate hike the following week nailed on.</li>\r\n 	<li>AUD: Down under we have Retail Sales and the RBA Rate statement to start the week off. The AUD has sold off of late following poor Cap Ex and GDP data. I am not expecting a change in interest rates but the commentary will be interesting to read to see is the RBA still neutral.</li>\r\n 	<li>GBP: The Tory party (UK Government) budget is released Wednesday.</li>\r\n 	<li>EUR: Draghi has a press conference this Thursday and there will be massive attention placed upon what he doesn’t say maybe rather than what he does say vis-à-vis tapering the Quantitative Easing monthly amount given the fact that EUROZONE economic data is now starting to show recovery.I think he will play everything down citing EUROZONE political risks and that any recovery is fragile.\r\n\r\nWhether he will get away with this approach is debatable… we shall see what he does.</li>\r\n 	<li>CAD: Jobs data released at the same time as US NFP. The BOC kept rates on hold last week. Jobs data has been very mixed of late with part-time workers blurring the data somewhat, so this release should show a trend… good or bad.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017-1024x850.png\" alt=\"\" width=\"1024\" height=\"850\" /></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-05032017.png\"><img class=\"aligncenter size-large wp-image-9236\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9237\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9238\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9239\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9240\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017-1024x495.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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9241\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></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><strong> </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\nIf you would like to watch/listen to a c.40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading, all you need to do is click the link below. All of what I call my differentiation features and benefits are listed and talked about plus I show you the potential income opportunity that is available to subscribers.\r\n\r\nClick 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\nIn addition, 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.\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\nI am continuing to move forward with my TRADE PLAN. I am now heavily committed to both EUR/USD and GBP/USD shorts, but I am not finished yet and I would still welcome another pullback to increase my position sizes with both pairs.\r\n\r\nI want to be short further EUR/JPY trades more so than the GBP/JPY based upon the woes in the EUROZONE and the continuing political uncertainty and headwinds in the EUROPEAN UNION.\r\n\r\nI have not banked many pips or $$$ this month so far, but we are only 3 days into the month! I have been focused on pricing the best entries possible and exiting existing trades that no longer feature in my CORE TRADE PLAN moving forward.\r\n\r\nAs 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<u>MOVING FORWARD:</u>\r\n\r\nFollowing Yellen last Friday everything economic data has little relevance in the big picture until NFP on the 10<sup>th</sup> March. If that is a blowout number, I would say that a US rate increase is on the cards.\r\n\r\nWe have seen, and I have missed the moves lower in the AUD/USD and NZD/USD and the move higher in USD/CAD. I caught the NZD move through the AUD/NZD and EUR/NZD.\r\n\r\nAfter the FOMC I hope to add many more cross-rate trades. I have been very cautious of late expecting a TRUMP TWEET to scupper any moves. Typical, when I expect a tweet it doesn\'t happen!\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. I have started to exit this position as you know there is now only one trade left to complete the exit.</li>\r\n 	<li>EUR/NZD: - I decided to exit one of the two trades in play with this pair. I am now very tempted to hold onto the remaining trade on the basis that if we see a market correction in equities this pair should benefit greatly.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add even more trades as the month progresses.The 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.However, given the increased rhetoric this week, I see lower first and a very messy BREXIT. We also now have a potential second Scottish referendum on remaining in the UK.\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 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.Over the past week, I have extended the STOP LOSS position on my sole EUR/GBP trade. I will be adding further trades this week to increase my short position.\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.\r\n\r\nThe FRENCH election is getting very tasty, with revelation after revelation and controversy after controversy. Court appearances, inquiries you name it the French election has it. It is a plethora of controversy. DO NOT trust the polls.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9234\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIVE-TRADES-05032017-784x1024.png\" alt=\"\" width=\"784\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-05032017.png\"><img class=\"aligncenter size-large wp-image-9233\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-05032017-778x1024.png\" alt=\"\" width=\"778\" 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>EUROZONE – NOT AN EXPERIMENT JUST A F**K UP</strong><strong> </strong>\r\n\r\nFor the second week running, I could have made the title of the soapbox this week:\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was, I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nI find myself constantly bashing the EUROZONE. In principle, I suppose it\'s a great idea but in the real world it is just a poor constituted fuck up. It is doomed, not a question of “if” but “when”.\r\n\r\nLast week the EUROPEAN COMMISSION released a white paper outlining 5 scenarios for the future of the EUROPEAN UNION. This emanated from the desk of the EUROPEAN COMMISSION President, Jean-Claude Junker. It was a classic effort from the desk sucking, pen pushing, jotter blotter from Brussels. As you can imagine I was over this like a rash, or a rat up a drainpipe.\r\n\r\nI do not want to replicate the paper you can search on google to find it but it had interesting section titles as follows: -\r\n<ul>\r\n 	<li>Carrying on</li>\r\n 	<li>Nothing but the single market</li>\r\n 	<li>Those who want to do more</li>\r\n 	<li>Doing less more efficiently</li>\r\n 	<li>Doing much more together</li>\r\n</ul>\r\nSounds great. As an overview from my perspective it was released in time for the 25<sup>th</sup> March 60<sup>th</sup> anniversary of the EUROPEAN UNION previously referred to as the COMMON MARKET. It is obviously intended to try and focus and harmonize the remaining members following the UK’s decision to EXIT.\r\n\r\nOn first glance, it looks real enough, the EU challenges show no sign of abating. He alludes to the fact the EU is a balancing act as many Europeans consider the EU and EUROZONE too interfering.\r\n\r\nYou can read it yourselves, but Junker still misses the point. He approaches the EUROPEAN UNION and EUROZONE purely and simply from the view of job protection for the boys and girls in Brussels. Basically, the gravy train continues. He wants continued governance from Brussels, there’s about 10,000 additional jobs, expense accounts and big pay checks with index linked pensions and private health benefits.\r\nTighter financial controls. Controls of single currency member’s budgets.\r\n\r\nNo change. He wants to secure the very things that piss people off. Remember the fruit-case from Brussels who went above the Irish government to fine Apple for tax avoidance, even though the deal was done for Apple by the Irish government utilizing Irish tax rules. WTF, has this got to do with some pen pusher in Brussels? This is the type of interference that pisses people off so I am gob smacked that Junker has done nothing to distance the bureaucracy of Brussels from an individual country’s sovereignty.\r\n\r\nMany American political and economic commentators still refer to the EUROPEAN UNION and EUROZONE as an experiment, this must wind up Brussels officials like you cannot imagine. It’s been in existence for 60 years in one form or another, so even I think the term “experiment” is a bit rich. Having said that many American commentators think EUROPE is a country and GERMANY is its capital city! Joe Kernan (CNBC) springs to mind with most EUROZONE gaffs, I still don\'t think he understands that IRELAND and NORTHERN IRELAND are two different counties with different currencies. It beggars belief he is still on TV… never mind prime time business TV.\r\n\r\nSo; when someone asks, is the EUROPEAN UNION learning from the BREXIT and forging a more inclusive way forward to include those who feel that Brussels is too interfering? Bollocks to all that let’s march on as before appears to be the mantra.\r\n\r\nIt would appear to me nothing learned, just protect the bureaucracy.\r\n\r\nHow long does the EUROPEAN UNION last.?\r\n\r\nIf Marine Le Pen is elected as the new French President it will implode and the single currency will be at 0.0050 or less in a few days. It will be a crisis to beat all crises and even the biggest can in the world to kick down the road just wouldn’t do.\r\n\r\nThe pollsters openly state that Marine Le Pen will win the first round of voting. However, she will lose the second ballot.\r\n\r\nHere are my thoughts…. amuse me for a paragraph or three…\r\n\r\nMarine Le Pen (National Front) is what can be termed a populist candidate. Like “THE DONALD” she has a fixed number of supporters that will support her no matter what. Her voting base is NOT going down. It only has one way to go.\r\n\r\nThe others: -\r\n<ul>\r\n 	<li>Benoit Hamon – Socialist</li>\r\n 	<li>Emmanuel Macron – En Marche</li>\r\n 	<li>Francois Fillon – Republican</li>\r\n 	<li>Jean-Luc Melenchon – The Left Party</li>\r\n</ul>\r\nThe above four candidates will fight it out amongst themselves to see who goes up against Le Pen in the second ballot according to the French press.\r\n\r\nThe question is how many of the voters whose candidate is not going through to round two will vote for Marine Le Pen?\r\n\r\nIs it feasible? Is it possible that Le Pens voting bloc in the second ballot will increase? I would say yes.\r\n\r\nThe question is by how much?\r\n\r\nShould Le Pen appeal in the final stages to those voters disillusioned with Brussels, who look across the English Channel to see a free UK without the constraints of the EUROPEAN UNION hanging over it as an option worth considering it is no longer a slam dunk. In fact, it’s far from a slam dunk decision. It may be unlikely but it is nevertheless a possible outcome that Le Pen could win.\r\n\r\nShould this happen, there will be no more EUROPEAN UNION, no more EUROZONE. As A founder member with Germany, I just could not see how the EU could continue. This would be a crisis, in fact, it would re-define the word.\r\n\r\nTo think that after 60 years in existence the EUROPEAN UNION is still so fragile beggar’s belief. It should by now have been unified and integrated to such an extent with all countries populations prosperous that the thought of leaving the UNION is not even an agenda item.\r\n\r\nPoliticians and self-serving bureaucrats have milked the EU for all they could benefit from at the expense of building solid foundations and creating policies to unite, grow, influence and stabilize the continent.\r\n\r\nWhat we have now is due to the fact that politicians are only interested in popularity through votes and the bureaucrats with pensions and expense accounts. There was never a credible long term view with key success factors built in to measure actual success.\r\n\r\nThe EUROPEAN UNION has failed to unite governments never mind the EU populations on many levels at different times, such as:\r\n<ul>\r\n 	<li>Defence and Security</li>\r\n 	<li>The Social Chapter</li>\r\n 	<li>Banking</li>\r\n 	<li>Taxation</li>\r\n 	<li>Debt Management and Controls</li>\r\n 	<li>Fiscal Planning and Constraints</li>\r\n 	<li>Immigration and Border Controls</li>\r\n 	<li>Freedom of Movement</li>\r\n 	<li>Food Planning (Agriculture)</li>\r\n 	<li>Health minimums</li>\r\n 	<li>Education minimums</li>\r\n</ul>\r\nThe list is endless.\r\n\r\nI know that I am always very critical of the EU and its workings. But it has just not evolved. It never matured or aged in such a way to grow, unite and bond members. It thrives on a fragmented approach to most topics. The problem that creates this is narrow minded politicians with a short time frame in office and a poorly managed and focused centralized operation in Brussels, which in my opinion is self-serving rather than actually doing anything meaningful or long that they could be proud of.\r\n\r\nWithout doubt there are wins, but are they big wins? From my perspective, its just interference that is poorly managed or directed. The Apple case is one in question. An upstart from Brussels is in interfering in a sovereign states tax affairs.\r\n\r\nIt is somewhat similar to the Quebec governments language police who cautioned an Italian restaurant for the numbers of times it wrote PASTA on its menu.  For God\'s sake people are paid good money for these jobs that could save lives. PASTAGATE as it is now known showed how protectionist, out of touch, mis-managed Quebec as a province is. \"People can die waiting to see a Doctor, but we will not accept PASTA written on an Italian restaurants menu. Absolutely bloody ridiculous and it simply cannot be defended. What is the French word for PASTA?\r\n\r\nBrussels is on the same path maybe not quite so stupid in delivery as Quebec, but they are on the same road.\r\n\r\nBasically, I always return to two basic issues.\r\n<ul>\r\n 	<li>19 countries in the EUROZONE basically using the same cheque book does not work.</li>\r\n 	<li>A mix of all the different cultures has created mistrust throughout the ages and makes harmony, unification on a common purpose practically impossible</li>\r\n</ul>\r\nPlus:\r\n\r\nPoor countries cannot afford what the rich counties can afford. Some countries benefit from natural resources others don\'t, it is just not a level playing field and one size does not fit all.\r\n\r\nTrading the single currency over the coming year should be quite a ride. I am bearish and see a test of parity possibly on the cards. It will not be a straight move lower as some have predicted. We should in my opinion push and pull our way lower.\r\n\r\nWe have major headwinds in the EUROPEAN UNION: -\r\n<ul>\r\n 	<li>Elections in FRANCE</li>\r\n 	<li>Elections in GERMANY</li>\r\n 	<li>Elections in HOLLAND</li>\r\n 	<li>The UK BREXIT to deal with “cleanly”</li>\r\n 	<li>ITALIAN Bank debt to sort out and fix</li>\r\n 	<li>GREECE bailout Act IV</li>\r\n</ul>\r\nThere is so much uncertainty in that list above, the single currency should move lower.\r\n\r\nWith a US FED raising rates we have divergent policies between the hawkish FED and the dovish ECB. Mario Draghi simply cannot afford to stop supporting the single currency given the uncertainties ahead and Janet Yellen has now indicated in the clearest language possible that the FED is embarking on a rate rising monetary policy program.\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: #130 PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> March 2017', 'EUROZONE – NOT AN EXPERIMENT JUST A F**K UP', '', 'publish', 'open', 'closed', '', 'eurozone-not-experiment-just-fk', '', '', '2017-03-04 06:52:23', '2017-03-04 11:52:23', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9242', 0, 'member_posts', '', 0);
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(9243, 1, '2017-03-04 06:32:07', '2017-03-04 11:32:07', '<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAs we all know and recognize, trading is about consistency, banking $$$, making pips and longevity through effective RISK MANAGEMENT, POSITION SIZING and trading with a TRADE PLAN.\r\n\r\nWhen you break it all down into its main constituent parts it’s actually very simple and straightforward. I have pages and pages referring to the above points on a multiple of PDF documents inside the PREMIUM SERVICE website. I read a few the other day to refresh the validity of the content and I must say albeit that some articles were saved from 2010 and earlier, they are still as relevant today as they were when they were initially posted.\r\n\r\nTrading is basically a formula that needs “tweaking” every now and then but basically it is repetition based around a proven formula.\r\n\r\nBasically, at the outset of 2017. I tweaked (so to speak) to accommodate “THE DONALD”.\r\n\r\nAfter a couple of sticky weeks in January, and reviewing my TRADE PLAN for 2017, I am still in trade transition mode but I am now banking more $$$ and pips.\r\n\r\nAs mentioned recently, I continue to establish CORE POSITIONS for my longer-term trades in e.g. EUR/USD and GBP/USD, and I am happy with the progress so far. I now just need the March 15<sup>th</sup> FOMC meeting out of the way, so that I can complete the longer-term transition outlined a few weeks ago to PREMIUM SERVICE subscribers by the end of Q1.\r\n\r\nI have virtually ignored my day trading trade styles of FLASH and RADAR trades throughout this process. This has been deliberate, based upon the fact that in his earlier days as President, “THE DONALD” created chaos and disorder in the markets and frankly whilst I sit over my screens, I have numerous trades open at any one time and the inclusion of short-term trade styles would just create frustration and annoyance.\r\n\r\nAfter the FOMC meeting, I am hoping like most traders that trading will have a greater clarity moving forward. This should enable a greater trading confidence using the smaller minute charts.\r\n\r\nMoving on…\r\n\r\nLast week was a strange week. I was caught up in the emotion of the “State of The Union” address by “THE DONALD”, at the end of the day it was a 100% Presidential address, even hard line opponents had to applaud on some bi-partisan pledges. Now… whether “THE DONALD” or the Republican Party allow some of the pledges to stand is debatable, but what I will say is that “THE DONALD” has one obvious trait like “MAGGIE”, and that is - he does what he says he is going to do.\r\n\r\nFrom a trading perspective, no fireworks and the markets will always buy promises made, regardless of who says it.\r\n\r\nThere was a lot of FED speak last week ending with Janet Yellen and Stanley Fischer. It was all very positive to moving US interest rates higher sooner rather than later. Even the doves were more hawkish; the most noteworthy in my opinion was Lael Brainard.\r\n\r\nOn Friday, both Yellen and Fischer basically all but said the FED will normalize and raise rates at the March meeting. It was so clear; the markets cannot be surprised. The only annoying factor was that when Yellen finished her Q&amp;A some profit taking took place and the DXY fell lower…. argh!!\r\n\r\nIt was fascinating to see that in 4 days the market sentiment for a FED rate increase on March 15<sup>th</sup> moved from 38% to almost 90%. Crazy, and it just shows you what we are dealing with. Very reactionary… almost TRUMP LIKE.\r\n\r\nThe commentary kept the USD bid most of the week. I must admit though as the TRUMP administration and possibly soon to be “Presidential currency manipulator Donald” want the USD weaker, I was waiting upon the tweet to stop the DXY move higher in its tracks. It never happened, TRUMP was so busy with White House leaks, FBI cover ups, Russians in da house and Jeff Sessions having vodka shots, he was probably 100% contained flying from crisis meeting to crisis meeting trying to keep the syrup in position (SYRUP = Cockney rhyming slang – “syrup of fig = wig”).\r\n\r\nApart from the US news the bigger news to dominate the wires related to the UK and the EUROPEAN UNION.\r\n\r\nIn the UK, Theresa May is starting to feel the pinch on BREXIT and its potential fallout. The PMi data this week was mixed but they were over shadowed by the House of Lords amendments to the BREXIT bill and the Scottish Parliament wanting another shot at a referendum on remaining part of the UK.\r\n\r\nThe key support level of 1.2260; the 61.8% Fibonacci level of the 1.2706/1.1987 move, was broken after offering stubborn support opening the way lower for a test of the psychological 1.2000 level and then the October 2016 low of 1.1841.\r\n\r\nEUROPE, was once again dominated by the French elections. I am using EUROPE and all things happening there as my “SOAPBOX” article this week so I will save my comments, views and thoughts for later.\r\n\r\nMore…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #7 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length.\r\n\r\n#7 is on Monday 6<sup>th</sup> March 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 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.: -\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\nFinally, in this section…\r\n<p style=\"text-align: left;\">The March winner of the “FREE 10-week PREMIUM SERVICE” subscription was\r\nbrian*******@gmail.com</p>\r\nBy the time this blog is posted Brain should be loaded up and ready to go.\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/2017/03/ECON-DATA-05032017.png\"><img class=\"aligncenter size-large wp-image-9225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017-1024x873.png\" alt=\"\" width=\"1024\" height=\"873\" /></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 very busy week: -\r\n<ol>\r\n 	<li>USD: Obviously, the star of the week for US data is Friday’s Non-Farm payrolls. No doubt should the number be a blow out one can consider a FED rate hike the following week nailed on.</li>\r\n 	<li>AUD: Down under we have Retail Sales and the RBA Rate statement to start the week off. The AUD has sold off of late following poor Cap Ex and GDP data. I am not expecting a change in interest rates but the commentary will be interesting to read to see is the RBA still neutral.</li>\r\n 	<li>GBP: The Tory party (UK Government) budget is released Wednesday.</li>\r\n 	<li>EUR: Draghi has a press conference this Thursday and there will be massive attention placed upon what he doesn’t say maybe rather than what he does say vis-à-vis tapering the Quantitative Easing monthly amount given the fact that EUROZONE economic data is now starting to show recovery.\r\n\r\nI think he will play everything down citing EUROZONE political risks and that any recovery is fragile.\r\n\r\nWhether he will get away with this approach is debatable… we shall see what he does.</li>\r\n 	<li>CAD: Jobs data released at the same time as US NFP. The BOC kept rates on hold last week. Jobs data has been very mixed of late with part-time workers blurring the data somewhat, so this release should show a trend… good or bad.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017-1024x850.png\" alt=\"\" width=\"1024\" height=\"850\" /></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-05032017.png\"><img class=\"aligncenter size-large wp-image-9236\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9237\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9238\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9239\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9240\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017-1024x495.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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9241\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></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><strong> </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\nIf you would like to watch/listen to a c.40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading, all you need to do is click the link below. All of what I call my differentiation features and benefits are listed and talked about plus I show you the potential income opportunity that is available to subscribers.\r\n\r\nClick 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\nIn addition, 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.\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\nI am continuing to move forward with my TRADE PLAN. I am now heavily committed to both EUR/USD and GBP/USD shorts, but I am not finished yet and I would still welcome another pullback to increase my position sizes with both pairs.\r\n\r\nI want to be short further EUR/JPY trades more so than the GBP/JPY based upon the woes in the EUROZONE and the continuing political uncertainty and headwinds in the EUROPEAN UNION.\r\n\r\nI have not banked many pips or $$$ this month so far, but we are only 3 days into the month! I have been focused on pricing the best entries possible and exiting existing trades that no longer feature in my CORE TRADE PLAN moving forward.\r\n\r\nAs 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<u>MOVING FORWARD:</u>\r\n\r\nFollowing Yellen last Friday everything economic data has little relevance in the big picture until NFP on the 10<sup>th</sup> March. If that is a blowout number, I would say that a US rate increase is on the cards.\r\n\r\nWe have seen, and I have missed the moves lower in the AUD/USD and NZD/USD and the move higher in USD/CAD. I caught the NZD move through the AUD/NZD and EUR/NZD.\r\n\r\nAfter the FOMC I hope to add many more cross-rate trades. I have been very cautious of late expecting a TRUMP TWEET to scupper any moves. Typical, when I expect a tweet it doesn\'t happen!\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. I have started to exit this position as you know there is now only one trade left to complete the exit.</li>\r\n 	<li>EUR/NZD: - I decided to exit one of the two trades in play with this pair. I am now very tempted to hold onto the remaining trade on the basis that if we see a market correction in equities this pair should benefit greatly.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now 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\nHowever, given the increased rhetoric this week, I see lower first and a very messy BREXIT. We also now have a potential second Scottish referendum on remaining in the UK.\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 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. I will be adding further trades this week to increase my short position.\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.\r\n\r\nThe FRENCH election is getting very tasty, with revelation after revelation and controversy after controversy. Court appearances, inquiries you name it the French election has it. It is a plethora of controversy. DO NOT trust the polls.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9234\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIVE-TRADES-05032017-784x1024.png\" alt=\"\" width=\"784\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-05032017.png\"><img class=\"aligncenter size-large wp-image-9233\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-05032017-778x1024.png\" alt=\"\" width=\"778\" 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>EUROZONE – NOT AN EXPERIMENT JUST A F**K UP</strong><strong> </strong>\r\n\r\nFor the second week running, I could have made the title of the soapbox this week:\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was, I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nI find myself constantly bashing the EUROZONE. In principle, I suppose it\'s a great idea but in the real world it is just a poor constituted fuck up. It is doomed, not a question of “if” but “when”.\r\n\r\nLast week the EUROPEAN COMMISSION released a white paper outlining 5 scenarios for the future of the EUROPEAN UNION. This emanated from the desk of the EUROPEAN COMMISSION President, Jean-Claude Junker. It was a classic effort from the desk sucking, pen pushing, jotter blotter from Brussels. As you can imagine I was over this like a rash, or a rat up a drainpipe.\r\n\r\nI do not want to replicate the paper you can search on google to find it but it had interesting section titles as follows: -\r\n<ul>\r\n 	<li>Carrying on</li>\r\n 	<li>Nothing but the single market</li>\r\n 	<li>Those who want to do more</li>\r\n 	<li>Doing less more efficiently</li>\r\n 	<li>Doing much more together</li>\r\n</ul>\r\nSounds great. As an overview from my perspective it was released in time for the 25<sup>th</sup> March 60<sup>th</sup> anniversary of the EUROPEAN UNION previously referred to as the COMMON MARKET. It is obviously intended to try and focus and harmonize the remaining members following the UK’s decision to EXIT.\r\n\r\nOn first glance, it looks real enough, the EU challenges show no sign of abating. He alludes to the fact the EU is a balancing act as many Europeans consider the EU and EUROZONE too interfering.\r\n\r\nYou can read it yourselves, but Junker still misses the point. He approaches the EUROPEAN UNION and EUROZONE purely and simply from the view of job protection for the boys and girls in Brussels. Basically, the gravy train continues. He wants continued governance from Brussels, there’s about 10,000 additional jobs, expense accounts and big pay checks with index linked pensions and private health benefits.\r\nTighter financial controls. Controls of single currency member’s budgets.\r\n\r\nNo change. He wants to secure the very things that piss people off. Remember the fruit-case from Brussels who went above the Irish government to fine Apple for tax avoidance, even though the deal was done for Apple by the Irish government utilizing Irish tax rules. WTF, has this got to do with some pen pusher in Brussels? This is the type of interference that pisses people off so I am gob smacked that Junker has done nothing to distance the bureaucracy of Brussels from an individual country’s sovereignty.\r\n\r\nMany American political and economic commentators still refer to the EUROPEAN UNION and EUROZONE as an experiment, this must wind up Brussels officials like you cannot imagine. It’s been in existence for 60 years in one form or another, so even I think the term “experiment” is a bit rich. Having said that many American commentators think EUROPE is a country and GERMANY is its capital city! Joe Kernan (CNBC) springs to mind with most EUROZONE gaffs, I still don\'t think he understands that IRELAND and NORTHERN IRELAND are two different counties with different currencies. It beggars belief he is still on TV… never mind prime time business TV.\r\n\r\nSo; when someone asks, is the EUROPEAN UNION learning from the BREXIT and forging a more inclusive way forward to include those who feel that Brussels is too interfering? Bollocks to all that let’s march on as before appears to be the mantra.\r\n\r\nIt would appear to me nothing learned, just protect the bureaucracy.\r\n\r\nHow long does the EUROPEAN UNION last.?\r\n\r\nIf Marine Le Pen is elected as the new French President it will implode and the single currency will be at 0.0050 or less in a few days. It will be a crisis to beat all crises and even the biggest can in the world to kick down the road just wouldn’t do.\r\n\r\nThe pollsters openly state that Marine Le Pen will win the first round of voting. However, she will lose the second ballot.\r\n\r\nHere are my thoughts…. amuse me for a paragraph or three…\r\n\r\nMarine Le Pen (National Front) is what can be termed a populist candidate. Like “THE DONALD” she has a fixed number of supporters that will support her no matter what. Her voting base is NOT going down. It only has one way to go.\r\n\r\nThe others: -\r\n<ul>\r\n 	<li>Benoit Hamon – Socialist</li>\r\n 	<li>Emmanuel Macron – En Marche</li>\r\n 	<li>Francois Fillon – Republican</li>\r\n 	<li>Jean-Luc Melenchon – The Left Party</li>\r\n</ul>\r\nThe above four candidates will fight it out amongst themselves to see who goes up against Le Pen in the second ballot according to the French press.\r\n\r\nThe question is how many of the voters whose candidate is not going through to round two will vote for Marine Le Pen?\r\n\r\nIs it feasible? Is it possible that Le Pens voting bloc in the second ballot will increase? I would say yes.\r\n\r\nThe question is by how much?\r\n\r\nShould Le Pen appeal in the final stages to those voters disillusioned with Brussels, who look across the English Channel to see a free UK without the constraints of the EUROPEAN UNION hanging over it as an option worth considering it is no longer a slam dunk. In fact, it’s far from a slam dunk decision. It may be unlikely but it is nevertheless a possible outcome that Le Pen could win.\r\n\r\nShould this happen, there will be no more EUROPEAN UNION, no more EUROZONE. As A founder member with Germany, I just could not see how the EU could continue. This would be a crisis, in fact, it would re-define the word.\r\n\r\nTo think that after 60 years in existence the EUROPEAN UNION is still so fragile beggar’s belief. It should by now have been unified and integrated to such an extent with all countries populations prosperous that the thought of leaving the UNION is not even an agenda item.\r\n\r\nPoliticians and self-serving bureaucrats have milked the EU for all they could benefit from at the expense of building solid foundations and creating policies to unite, grow, influence and stabilize the continent.\r\n\r\nWhat we have now is due to the fact that politicians are only interested in popularity through votes and the bureaucrats with pensions and expense accounts. There was never a credible long term view with key success factors built in to measure actual success.\r\n\r\nThe EUROPEAN UNION has failed to unite governments never mind the EU populations on many levels at different times, such as:\r\n<ul>\r\n 	<li>Defence and Security</li>\r\n 	<li>The Social Chapter</li>\r\n 	<li>Banking</li>\r\n 	<li>Taxation</li>\r\n 	<li>Debt Management and Controls</li>\r\n 	<li>Fiscal Planning and Constraints</li>\r\n 	<li>Immigration and Border Controls</li>\r\n 	<li>Freedom of Movement</li>\r\n 	<li>Food Planning (Agriculture)</li>\r\n 	<li>Health minimums</li>\r\n 	<li>Education minimums</li>\r\n</ul>\r\nThe list is endless.\r\n\r\nI know that I am always very critical of the EU and its workings. But it has just not evolved. It never matured or aged in such a way to grow, unite and bond members. It thrives on a fragmented approach to most topics. The problem that creates this is narrow minded politicians with a short time frame in office and a poorly managed and focused centralized operation in Brussels, which in my opinion is self-serving rather than actually doing anything meaningful or long that they could be proud of.\r\n\r\nWithout doubt there are wins, but are they big wins? From my perspective, its just interference that is poorly managed or directed. The Apple case is one in question. An upstart from Brussels is in interfering in a sovereign states tax affairs.\r\n\r\nIt is somewhat similar to the Quebec governments language police who cautioned an Italian restaurant for the numbers of times it wrote PASTA on its menu.  For God\'s sake people are paid good money for these jobs that could save lives. PASTAGATE as it is now known showed how protectionist, out of touch, mis-managed Quebec as a province is. \"People can die waiting to see a Doctor, but we will not accept PASTA written on an Italian restaurants menu. Absolutely bloody ridiciculous and it simply cannot be defended. What is the French word for PASTA?\r\n\r\nBrussels is on the same path maybe not quite so stupid in delivery as Quebec, but they are on the same road.\r\n\r\nBasically, I always return to two basic issues.\r\n<ul>\r\n 	<li>19 countries in the EUROZONE basically using the same cheque book does not work.</li>\r\n 	<li>A mix of all the different cultures has created mistrust throughout the ages and makes harmony, unification on a common purpose practically impossible</li>\r\n</ul>\r\nPlus:\r\n\r\nPoor countries cannot afford what the rich counties can afford. Some countries benefit from natural resources others don\'t, it is just not a level playing field and one size does not fit all.\r\n\r\nTrading the single currency over the coming year should be quite a ride. I am bearish and see a test of parity possibly on the cards. It will not be a straight move lower as some have predicted. We should in my opinion push and pull our way lower.\r\n\r\nWe have major headwinds in the EUROPEAN UNION: -\r\n<ul>\r\n 	<li>Elections in FRANCE</li>\r\n 	<li>Elections in GERMANY</li>\r\n 	<li>Elections in HOLLAND</li>\r\n 	<li>The UK BREXIT to deal with “cleanly”</li>\r\n 	<li>ITALIAN Bank debt to sort out and fix</li>\r\n 	<li>GREECE bailout Act IV</li>\r\n</ul>\r\nThere is so much uncertainty in that list above, the single currency should move lower.\r\n\r\nWith a US FED raising rates we have divergent policies between the hawkish FED and the dovish ECB. Mario Draghi simply cannot afford to stop supporting the single currency given the uncertainties ahead and Janet Yellen has now indicated in the clearest language possible that the FED is embarking on a rate rising monetary policy program.\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\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: #130 PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> March 2017.<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;', 'EUROZONE – NOT AN EXPERIMENT JUST A F**K UP', '', 'inherit', 'closed', 'closed', '', '9242-revision-v1', '', '', '2017-03-04 06:32:07', '2017-03-04 11:32:07', '', 9242, 'https://weeklyfxdrivethru.com/9242-revision-v1/', 0, 'revision', '', 0),
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(9245, 1, '2017-03-04 06:52:23', '2017-03-04 11:52:23', '<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAs we all know and recognize, trading is about consistency, banking $$$, making pips and longevity through effective RISK MANAGEMENT, POSITION SIZING and trading with a TRADE PLAN.\r\n\r\nWhen you break it all down into its main constituent parts it’s actually very simple and straightforward. I have pages and pages referring to the above points on a multiple of PDF documents inside the PREMIUM SERVICE website. I read a few the other day to refresh the validity of the content and I must say albeit that some articles were saved from 2010 and earlier, they are still as relevant today as they were when they were initially posted.\r\n\r\nTrading is basically a formula that needs “tweaking” every now and then but basically it is repetition based around a proven formula.\r\n\r\nBasically, at the outset of 2017. I tweaked (so to speak) to accommodate “THE DONALD”.\r\n\r\nAfter a couple of sticky weeks in January, and reviewing my TRADE PLAN for 2017, I am still in trade transition mode but I am now banking more $$$ and pips.\r\n\r\nAs mentioned recently, I continue to establish CORE POSITIONS for my longer-term trades in e.g. EUR/USD and GBP/USD, and I am happy with the progress so far. I now just need the March 15<sup>th</sup> FOMC meeting out of the way, so that I can complete the longer-term transition outlined a few weeks ago to PREMIUM SERVICE subscribers by the end of Q1.\r\n\r\nI have virtually ignored my day trading trade styles of FLASH and RADAR trades throughout this process. This has been deliberate, based upon the fact that in his earlier days as President, “THE DONALD” created chaos and disorder in the markets and frankly whilst I sit over my screens, I have numerous trades open at any one time and the inclusion of short-term trade styles would just create frustration and annoyance.\r\n\r\nAfter the FOMC meeting, I am hoping like most traders that trading will have a greater clarity moving forward. This should enable a greater trading confidence using the smaller minute charts.\r\n\r\nMoving on…\r\n\r\nLast week was a strange week. I was caught up in the emotion of the “State of The Union” address by “THE DONALD”, at the end of the day it was a 100% Presidential address, even hard line opponents had to applaud on some bi-partisan pledges. Now… whether “THE DONALD” or the Republican Party allow some of the pledges to stand is debatable, but what I will say is that “THE DONALD” has one obvious trait like “MAGGIE”, and that is - he does what he says he is going to do.\r\n\r\nFrom a trading perspective, no fireworks and the markets will always buy promises made, regardless of who says it.\r\n\r\nThere was a lot of FED speak last week ending with Janet Yellen and Stanley Fischer. It was all very positive to moving US interest rates higher sooner rather than later. Even the doves were more hawkish; the most noteworthy in my opinion was Lael Brainard.\r\n\r\nOn Friday, both Yellen and Fischer basically all but said the FED will normalize and raise rates at the March meeting. It was so clear; the markets cannot be surprised. The only annoying factor was that when Yellen finished her Q&amp;A some profit taking took place and the DXY fell lower…. argh!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017.png\"><img class=\"aligncenter size-large wp-image-9244\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017-1024x455.png\" alt=\"\" width=\"1024\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\nIt was fascinating to see that in 4 days the market sentiment for a FED rate increase on March 15<sup>th</sup> moved from 38% to almost 90%. Crazy, and it just shows you what we are dealing with. Very reactionary… almost TRUMP LIKE.\r\n\r\nThe commentary kept the USD bid most of the week. I must admit though as the TRUMP administration and possibly soon to be “Presidential currency manipulator Donald” want the USD weaker, I was waiting upon the tweet to stop the DXY move higher in its tracks. It never happened, TRUMP was so busy with White House leaks, FBI cover ups, Russians in da house and Jeff Sessions having vodka shots, he was probably 100% contained flying from crisis meeting to crisis meeting trying to keep the syrup in position (SYRUP = Cockney rhyming slang – “syrup of fig = wig”).\r\n\r\nApart from the US news the bigger news to dominate the wires related to the UK and the EUROPEAN UNION.\r\n\r\nIn the UK, Theresa May is starting to feel the pinch on BREXIT and its potential fallout. The PMi data this week was mixed but they were over shadowed by the House of Lords amendments to the BREXIT bill and the Scottish Parliament wanting another shot at a referendum on remaining part of the UK.\r\n\r\nThe key support level of 1.2260; the 61.8% Fibonacci level of the 1.2706/1.1987 move, was broken after offering stubborn support opening the way lower for a test of the psychological 1.2000 level and then the October 2016 low of 1.1841.\r\n\r\nEUROPE, was once again dominated by the French elections. I am using EUROPE and all things happening there as my “SOAPBOX” article this week so I will save my comments, views and thoughts for later.\r\n\r\nMore…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #7 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length.\r\n\r\n#7 is on Monday 6<sup>th</sup> March 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 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.: -\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\nFinally, in this section…\r\n<p style=\"text-align: left;\">The March winner of the “FREE 10-week PREMIUM SERVICE” subscription was\r\nbrian*******@gmail.com</p>\r\nBy the time this blog is posted Brain should be loaded up and ready to go.\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/2017/03/ECON-DATA-05032017.png\"><img class=\"aligncenter size-large wp-image-9225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017-1024x873.png\" alt=\"\" width=\"1024\" height=\"873\" /></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 very busy week: -\r\n<ol>\r\n 	<li>USD: Obviously, the star of the week for US data is Friday’s Non-Farm payrolls. No doubt should the number be a blow out one can consider a FED rate hike the following week nailed on.</li>\r\n 	<li>AUD: Down under we have Retail Sales and the RBA Rate statement to start the week off. The AUD has sold off of late following poor Cap Ex and GDP data. I am not expecting a change in interest rates but the commentary will be interesting to read to see is the RBA still neutral.</li>\r\n 	<li>GBP: The Tory party (UK Government) budget is released Wednesday.</li>\r\n 	<li>EUR: Draghi has a press conference this Thursday and there will be massive attention placed upon what he doesn’t say maybe rather than what he does say vis-à-vis tapering the Quantitative Easing monthly amount given the fact that EUROZONE economic data is now starting to show recovery.I think he will play everything down citing EUROZONE political risks and that any recovery is fragile.\r\n\r\nWhether he will get away with this approach is debatable… we shall see what he does.</li>\r\n 	<li>CAD: Jobs data released at the same time as US NFP. The BOC kept rates on hold last week. Jobs data has been very mixed of late with part-time workers blurring the data somewhat, so this release should show a trend… good or bad.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017-1024x850.png\" alt=\"\" width=\"1024\" height=\"850\" /></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-05032017.png\"><img class=\"aligncenter size-large wp-image-9236\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9237\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9238\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9239\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9240\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017-1024x495.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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9241\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></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><strong> </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\nIf you would like to watch/listen to a c.40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading, all you need to do is click the link below. All of what I call my differentiation features and benefits are listed and talked about plus I show you the potential income opportunity that is available to subscribers.\r\n\r\nClick 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\nIn addition, 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.\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\nI am continuing to move forward with my TRADE PLAN. I am now heavily committed to both EUR/USD and GBP/USD shorts, but I am not finished yet and I would still welcome another pullback to increase my position sizes with both pairs.\r\n\r\nI want to be short further EUR/JPY trades more so than the GBP/JPY based upon the woes in the EUROZONE and the continuing political uncertainty and headwinds in the EUROPEAN UNION.\r\n\r\nI have not banked many pips or $$$ this month so far, but we are only 3 days into the month! I have been focused on pricing the best entries possible and exiting existing trades that no longer feature in my CORE TRADE PLAN moving forward.\r\n\r\nAs 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<u>MOVING FORWARD:</u>\r\n\r\nFollowing Yellen last Friday everything economic data has little relevance in the big picture until NFP on the 10<sup>th</sup> March. If that is a blowout number, I would say that a US rate increase is on the cards.\r\n\r\nWe have seen, and I have missed the moves lower in the AUD/USD and NZD/USD and the move higher in USD/CAD. I caught the NZD move through the AUD/NZD and EUR/NZD.\r\n\r\nAfter the FOMC I hope to add many more cross-rate trades. I have been very cautious of late expecting a TRUMP TWEET to scupper any moves. Typical, when I expect a tweet it doesn\'t happen!\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. I have started to exit this position as you know there is now only one trade left to complete the exit.</li>\r\n 	<li>EUR/NZD: - I decided to exit one of the two trades in play with this pair. I am now very tempted to hold onto the remaining trade on the basis that if we see a market correction in equities this pair should benefit greatly.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add even more trades as the month progresses.The 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.However, given the increased rhetoric this week, I see lower first and a very messy BREXIT. We also now have a potential second Scottish referendum on remaining in the UK.\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 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.Over the past week, I have extended the STOP LOSS position on my sole EUR/GBP trade. I will be adding further trades this week to increase my short position.\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.\r\n\r\nThe FRENCH election is getting very tasty, with revelation after revelation and controversy after controversy. Court appearances, inquiries you name it the French election has it. It is a plethora of controversy. DO NOT trust the polls.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9234\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIVE-TRADES-05032017-784x1024.png\" alt=\"\" width=\"784\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-05032017.png\"><img class=\"aligncenter size-large wp-image-9233\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-05032017-778x1024.png\" alt=\"\" width=\"778\" 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>EUROZONE – NOT AN EXPERIMENT JUST A F**K UP</strong><strong> </strong>\r\n\r\nFor the second week running, I could have made the title of the soapbox this week:\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was, I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nI find myself constantly bashing the EUROZONE. In principle, I suppose it\'s a great idea but in the real world it is just a poor constituted fuck up. It is doomed, not a question of “if” but “when”.\r\n\r\nLast week the EUROPEAN COMMISSION released a white paper outlining 5 scenarios for the future of the EUROPEAN UNION. This emanated from the desk of the EUROPEAN COMMISSION President, Jean-Claude Junker. It was a classic effort from the desk sucking, pen pushing, jotter blotter from Brussels. As you can imagine I was over this like a rash, or a rat up a drainpipe.\r\n\r\nI do not want to replicate the paper you can search on google to find it but it had interesting section titles as follows: -\r\n<ul>\r\n 	<li>Carrying on</li>\r\n 	<li>Nothing but the single market</li>\r\n 	<li>Those who want to do more</li>\r\n 	<li>Doing less more efficiently</li>\r\n 	<li>Doing much more together</li>\r\n</ul>\r\nSounds great. As an overview from my perspective it was released in time for the 25<sup>th</sup> March 60<sup>th</sup> anniversary of the EUROPEAN UNION previously referred to as the COMMON MARKET. It is obviously intended to try and focus and harmonize the remaining members following the UK’s decision to EXIT.\r\n\r\nOn first glance, it looks real enough, the EU challenges show no sign of abating. He alludes to the fact the EU is a balancing act as many Europeans consider the EU and EUROZONE too interfering.\r\n\r\nYou can read it yourselves, but Junker still misses the point. He approaches the EUROPEAN UNION and EUROZONE purely and simply from the view of job protection for the boys and girls in Brussels. Basically, the gravy train continues. He wants continued governance from Brussels, there’s about 10,000 additional jobs, expense accounts and big pay checks with index linked pensions and private health benefits.\r\nTighter financial controls. Controls of single currency member’s budgets.\r\n\r\nNo change. He wants to secure the very things that piss people off. Remember the fruit-case from Brussels who went above the Irish government to fine Apple for tax avoidance, even though the deal was done for Apple by the Irish government utilizing Irish tax rules. WTF, has this got to do with some pen pusher in Brussels? This is the type of interference that pisses people off so I am gob smacked that Junker has done nothing to distance the bureaucracy of Brussels from an individual country’s sovereignty.\r\n\r\nMany American political and economic commentators still refer to the EUROPEAN UNION and EUROZONE as an experiment, this must wind up Brussels officials like you cannot imagine. It’s been in existence for 60 years in one form or another, so even I think the term “experiment” is a bit rich. Having said that many American commentators think EUROPE is a country and GERMANY is its capital city! Joe Kernan (CNBC) springs to mind with most EUROZONE gaffs, I still don\'t think he understands that IRELAND and NORTHERN IRELAND are two different counties with different currencies. It beggars belief he is still on TV… never mind prime time business TV.\r\n\r\nSo; when someone asks, is the EUROPEAN UNION learning from the BREXIT and forging a more inclusive way forward to include those who feel that Brussels is too interfering? Bollocks to all that let’s march on as before appears to be the mantra.\r\n\r\nIt would appear to me nothing learned, just protect the bureaucracy.\r\n\r\nHow long does the EUROPEAN UNION last.?\r\n\r\nIf Marine Le Pen is elected as the new French President it will implode and the single currency will be at 0.0050 or less in a few days. It will be a crisis to beat all crises and even the biggest can in the world to kick down the road just wouldn’t do.\r\n\r\nThe pollsters openly state that Marine Le Pen will win the first round of voting. However, she will lose the second ballot.\r\n\r\nHere are my thoughts…. amuse me for a paragraph or three…\r\n\r\nMarine Le Pen (National Front) is what can be termed a populist candidate. Like “THE DONALD” she has a fixed number of supporters that will support her no matter what. Her voting base is NOT going down. It only has one way to go.\r\n\r\nThe others: -\r\n<ul>\r\n 	<li>Benoit Hamon – Socialist</li>\r\n 	<li>Emmanuel Macron – En Marche</li>\r\n 	<li>Francois Fillon – Republican</li>\r\n 	<li>Jean-Luc Melenchon – The Left Party</li>\r\n</ul>\r\nThe above four candidates will fight it out amongst themselves to see who goes up against Le Pen in the second ballot according to the French press.\r\n\r\nThe question is how many of the voters whose candidate is not going through to round two will vote for Marine Le Pen?\r\n\r\nIs it feasible? Is it possible that Le Pens voting bloc in the second ballot will increase? I would say yes.\r\n\r\nThe question is by how much?\r\n\r\nShould Le Pen appeal in the final stages to those voters disillusioned with Brussels, who look across the English Channel to see a free UK without the constraints of the EUROPEAN UNION hanging over it as an option worth considering it is no longer a slam dunk. In fact, it’s far from a slam dunk decision. It may be unlikely but it is nevertheless a possible outcome that Le Pen could win.\r\n\r\nShould this happen, there will be no more EUROPEAN UNION, no more EUROZONE. As A founder member with Germany, I just could not see how the EU could continue. This would be a crisis, in fact, it would re-define the word.\r\n\r\nTo think that after 60 years in existence the EUROPEAN UNION is still so fragile beggar’s belief. It should by now have been unified and integrated to such an extent with all countries populations prosperous that the thought of leaving the UNION is not even an agenda item.\r\n\r\nPoliticians and self-serving bureaucrats have milked the EU for all they could benefit from at the expense of building solid foundations and creating policies to unite, grow, influence and stabilize the continent.\r\n\r\nWhat we have now is due to the fact that politicians are only interested in popularity through votes and the bureaucrats with pensions and expense accounts. There was never a credible long term view with key success factors built in to measure actual success.\r\n\r\nThe EUROPEAN UNION has failed to unite governments never mind the EU populations on many levels at different times, such as:\r\n<ul>\r\n 	<li>Defence and Security</li>\r\n 	<li>The Social Chapter</li>\r\n 	<li>Banking</li>\r\n 	<li>Taxation</li>\r\n 	<li>Debt Management and Controls</li>\r\n 	<li>Fiscal Planning and Constraints</li>\r\n 	<li>Immigration and Border Controls</li>\r\n 	<li>Freedom of Movement</li>\r\n 	<li>Food Planning (Agriculture)</li>\r\n 	<li>Health minimums</li>\r\n 	<li>Education minimums</li>\r\n</ul>\r\nThe list is endless.\r\n\r\nI know that I am always very critical of the EU and its workings. But it has just not evolved. It never matured or aged in such a way to grow, unite and bond members. It thrives on a fragmented approach to most topics. The problem that creates this is narrow minded politicians with a short time frame in office and a poorly managed and focused centralized operation in Brussels, which in my opinion is self-serving rather than actually doing anything meaningful or long that they could be proud of.\r\n\r\nWithout doubt there are wins, but are they big wins? From my perspective, its just interference that is poorly managed or directed. The Apple case is one in question. An upstart from Brussels is in interfering in a sovereign states tax affairs.\r\n\r\nIt is somewhat similar to the Quebec governments language police who cautioned an Italian restaurant for the numbers of times it wrote PASTA on its menu.  For God\'s sake people are paid good money for these jobs that could save lives. PASTAGATE as it is now known showed how protectionist, out of touch, mis-managed Quebec as a province is. \"People can die waiting to see a Doctor, but we will not accept PASTA written on an Italian restaurants menu. Absolutely bloody ridiculous and it simply cannot be defended. What is the French word for PASTA?\r\n\r\nBrussels is on the same path maybe not quite so stupid in delivery as Quebec, but they are on the same road.\r\n\r\nBasically, I always return to two basic issues.\r\n<ul>\r\n 	<li>19 countries in the EUROZONE basically using the same cheque book does not work.</li>\r\n 	<li>A mix of all the different cultures has created mistrust throughout the ages and makes harmony, unification on a common purpose practically impossible</li>\r\n</ul>\r\nPlus:\r\n\r\nPoor countries cannot afford what the rich counties can afford. Some countries benefit from natural resources others don\'t, it is just not a level playing field and one size does not fit all.\r\n\r\nTrading the single currency over the coming year should be quite a ride. I am bearish and see a test of parity possibly on the cards. It will not be a straight move lower as some have predicted. We should in my opinion push and pull our way lower.\r\n\r\nWe have major headwinds in the EUROPEAN UNION: -\r\n<ul>\r\n 	<li>Elections in FRANCE</li>\r\n 	<li>Elections in GERMANY</li>\r\n 	<li>Elections in HOLLAND</li>\r\n 	<li>The UK BREXIT to deal with “cleanly”</li>\r\n 	<li>ITALIAN Bank debt to sort out and fix</li>\r\n 	<li>GREECE bailout Act IV</li>\r\n</ul>\r\nThere is so much uncertainty in that list above, the single currency should move lower.\r\n\r\nWith a US FED raising rates we have divergent policies between the hawkish FED and the dovish ECB. Mario Draghi simply cannot afford to stop supporting the single currency given the uncertainties ahead and Janet Yellen has now indicated in the clearest language possible that the FED is embarking on a rate rising monetary policy program.\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: #130 PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> March 2017', 'EUROZONE – NOT AN EXPERIMENT JUST A F**K UP', '', 'inherit', 'closed', 'closed', '', '9242-revision-v1', '', '', '2017-03-04 06:52:23', '2017-03-04 11:52:23', '', 9242, 'https://weeklyfxdrivethru.com/9242-revision-v1/', 0, 'revision', '', 0);
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(9252, 1, '2017-03-04 07:40:56', '2017-03-04 12:40:56', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAs we all know and recognize, trading is about consistency, banking $$$, making pips and longevity through effective RISK MANAGEMENT, POSITION SIZING and trading with a TRADE PLAN.\r\n\r\nWhen you break it all down into its main constituent parts it’s actually very simple and straightforward. I have pages and pages referring to the above points on a multiple of PDF documents inside the PREMIUM SERVICE website. I read a few the other day to refresh the validity of the content and I must say albeit that some articles were saved from 2010 and earlier, they are still as relevant today as they were when they were initially posted.\r\n\r\nTrading is basically a formula that needs “tweaking” every now and then but basically it is repetition based around a proven formula.\r\n\r\nBasically, at the outset of 2017. I tweaked (so to speak) to accommodate “THE DONALD”.\r\n\r\nAfter a couple of sticky weeks in January, and reviewing my TRADE PLAN for 2017, I am still in trade transition mode but I am now banking more $$$ and pips.\r\n\r\nAs mentioned recently, I continue to establish CORE POSITIONS for my longer-term trades in e.g. EUR/USD and GBP/USD, and I am happy with the progress so far. I now just need the March 15<sup>th</sup> FOMC meeting out of the way, so that I can complete the longer-term transition outlined a few weeks ago to PREMIUM SERVICE subscribers by the end of Q1.\r\n\r\nI have virtually ignored my day trading trade styles of FLASH and RADAR trades throughout this process. This has been deliberate, based upon the fact that in his earlier days as President, “THE DONALD” created chaos and disorder in the markets and frankly whilst I sit over my screens, I have numerous trades open at any one time and the inclusion of short-term trade styles would just create frustration and annoyance.\r\n\r\nAfter the FOMC meeting, I am hoping like most traders that trading will have a greater clarity moving forward. This should enable a greater trading confidence using the smaller minute charts.\r\n\r\nMoving on…\r\n\r\nLast week was a strange week. I was caught up in the emotion of the “State of The Union” address by “THE DONALD”, at the end of the day it was a 100% Presidential address, even hard line opponents had to applaud on some bi-partisan pledges. Now… whether “THE DONALD” or the Republican Party allow some of the pledges to stand is debatable, but what I will say is that “THE DONALD” has one obvious trait like “MAGGIE”, and that is - he does what he says he is going to do.\r\n\r\nFrom a trading perspective, no fireworks and the markets will always buy promises made, regardless of who says it.\r\n\r\nThere was a lot of FED speak last week ending with Janet Yellen and Stanley Fischer. It was all very positive to moving US interest rates higher sooner rather than later. Even the doves were more hawkish; the most noteworthy in my opinion was Lael Brainard.\r\n\r\nOn Friday, both Yellen and Fischer basically all but said the FED will normalize and raise rates at the March meeting. It was so clear; the markets cannot be surprised. The only annoying factor was that when Yellen finished her Q&amp;A some profit taking took place and the DXY fell lower…. argh!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017.png\"><img class=\"aligncenter size-large wp-image-9244\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017-1024x455.png\" alt=\"\" width=\"1024\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\nIt was fascinating to see that in 4 days the market sentiment for a FED rate increase on March 15<sup>th</sup> moved from 38% to almost 90%. Crazy, and it just shows you what we are dealing with. Very reactionary… almost TRUMP LIKE.\r\n\r\nThe commentary kept the USD bid most of the week. I must admit though as the TRUMP administration and possibly soon to be “Presidential currency manipulator Donald” want the USD weaker, I was waiting upon the tweet to stop the DXY move higher in its tracks. It never happened, TRUMP was so busy with White House leaks, FBI cover ups, Russians in da house and Jeff Sessions having vodka shots, he was probably 100% contained flying from crisis meeting to crisis meeting trying to keep the syrup in position (SYRUP = Cockney rhyming slang – “syrup of fig = wig”).\r\n\r\nApart from the US news the bigger news to dominate the wires related to the UK and the EUROPEAN UNION.\r\n\r\nIn the UK, Theresa May is starting to feel the pinch on BREXIT and its potential fallout. The PMi data this week was mixed but they were over shadowed by the House of Lords amendments to the BREXIT bill and the Scottish Parliament wanting another shot at a referendum on remaining part of the UK.\r\n\r\nThe key support level of 1.2260; the 61.8% Fibonacci level of the 1.2706/1.1987 move, was broken after offering stubborn support opening the way lower for a test of the psychological 1.2000 level and then the October 2016 low of 1.1841.\r\n\r\nEUROPE, was once again dominated by the French elections. I am using EUROPE and all things happening there as my “SOAPBOX” article this week so I will save my comments, views and thoughts for later.\r\n\r\nMore…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #7 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length.\r\n\r\n#7 is on Monday 6<sup>th</sup> March 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 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.: -\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\nFinally, in this section…\r\n\r\nThe March winner of the “FREE 10-week PREMIUM SERVICE” subscription was\r\nbrian*******@gmail.com\r\n\r\nBy the time this blog is posted Brain should be loaded up and ready to go.\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017.png\"><img class=\"aligncenter size-large wp-image-9225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017-1024x873.png\" alt=\"\" width=\"1024\" height=\"873\" /></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<ol>\r\n 	<li>USD: Obviously, the star of the week for US data is Friday’s Non-Farm payrolls. No doubt should the number be a blow out one can consider a FED rate hike the following week nailed on.</li>\r\n 	<li>AUD: Down under we have Retail Sales and the RBA Rate statement to start the week off. The AUD has sold off of late following poor Cap Ex and GDP data. I am not expecting a change in interest rates but the commentary will be interesting to read to see is the RBA still neutral.</li>\r\n 	<li>GBP: The Tory party (UK Government) budget is released Wednesday.</li>\r\n 	<li>EUR: Draghi has a press conference this Thursday and there will be massive attention placed upon what he doesn’t say maybe rather than what he does say vis-à-vis tapering the Quantitative Easing monthly amount given the fact that EUROZONE economic data is now starting to show recovery.I think he will play everything down citing EUROZONE political risks and that any recovery is fragile.Whether he will get away with this approach is debatable… we shall see what he does.</li>\r\n 	<li>CAD: Jobs data released at the same time as US NFP. The BOC kept rates on hold last week. Jobs data has been very mixed of late with part-time workers blurring the data somewhat, so this release should show a trend… good or bad.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017-1024x850.png\" alt=\"\" width=\"1024\" height=\"850\" /></a>\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\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9236\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9237\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9238\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9239\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9240\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9241\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\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\nIf you would like to watch/listen to a c.40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading, all you need to do is click the link below. All of what I call my differentiation features and benefits are listed and talked about plus I show you the potential income opportunity that is available to subscribers.\r\n\r\nClick 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\nIn addition, 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.\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 ONLY AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>EUROZONE – NOT AN EXPERIMENT JUST A F**K UP</strong><strong> </strong>\r\n\r\nFor the second week running, I could have made the title of the soapbox this week: -\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was, I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nI find myself constantly bashing the EUROZONE. In principle, I suppose it\'s a great idea but in the real world it is just a poor constituted fuck up. It is doomed, not a question of “if” but “when”.\r\n\r\nLast week the EUROPEAN COMMISSION released a white paper outlining 5 scenarios for the future of the EUROPEAN UNION. This emanated from the desk of the EUROPEAN COMMISSION President, Jean-Claude Junker. It was a classic effort from the desk sucking, pen pushing, jotter blotter from Brussels. As you can imagine I was over this like a rash, or a rat up a drainpipe.\r\n\r\nI do not want to replicate the paper you can search on google to find it but it had interesting section titles as follows: -\r\n<ul>\r\n 	<li>Carrying on</li>\r\n 	<li>Nothing but the single market</li>\r\n 	<li>Those who want to do more</li>\r\n 	<li>Doing less more efficiently</li>\r\n 	<li>Doing much more together</li>\r\n</ul>\r\nSounds great. As an overview from my perspective it was released in time for the 25<sup>th</sup> March 60<sup>th</sup> anniversary of the EUROPEAN UNION previously referred to as the COMMON MARKET. It is obviously intended to try and focus and harmonize the remaining members following the UK’s decision to EXIT.\r\n\r\nOn first glance, it looks real enough, the EU challenges show no sign of abating. He alludes to the fact the EU is a balancing act as many Europeans consider the EU and EUROZONE too interfering.\r\n\r\nYou can read it yourselves, but Junker still misses the point. He approaches the EUROPEAN UNION and EUROZONE purely and simply from the view of job protection for the boys and girls in Brussels. Basically, the gravy train continues. He wants continued governance from Brussels, there’s about 10,000 additional jobs, expense accounts and big pay checks with index linked pensions and private health benefits.\r\nTighter financial controls. Controls of single currency member’s budgets.\r\n\r\nNo change. He wants to secure the very things that piss people off. Remember the fruit-case from Brussels who went above the Irish government to fine Apple for tax avoidance, even though the deal was done for Apple by the Irish government utilizing Irish tax rules. WTF, has this got to do with some pen pusher in Brussels? This is the type of interference that pisses people off so I am gob smacked that Junker has done nothing to distance the bureaucracy of Brussels from an individual country’s sovereignty.\r\n\r\nMany American political and economic commentators still refer to the EUROPEAN UNION and EUROZONE as an experiment, this must wind up Brussels officials like you cannot imagine. It’s been in existence for 60 years in one form or another, so even I think the term “experiment” is a bit rich. Having said that many American commentators think EUROPE is a country and GERMANY is its capital city! Joe Kernan (CNBC) springs to mind with most EUROZONE gaffs, I still don\'t think he understands that IRELAND and NORTHERN IRELAND are two different counties with different currencies. It beggars belief he is still on TV… never mind prime time business TV.\r\n\r\nSo; when someone asks, is the EUROPEAN UNION learning from the BREXIT and forging a more inclusive way forward to include those who feel that Brussels is too interfering? Bollocks to all that let’s march on as before appears to be the mantra.\r\n\r\nIt would appear to me nothing learned, just protect the bureaucracy.\r\n\r\nHow long does the EUROPEAN UNION last.?\r\n\r\nIf Marine Le Pen is elected as the new French President it will implode and the single currency will be at 0.0050 or less in a few days. It will be a crisis to beat all crises and even the biggest can in the world to kick down the road just wouldn’t do.\r\n\r\nThe pollsters openly state that Marine Le Pen will win the first round of voting. However, she will lose the second ballot.\r\n\r\nHere are my thoughts…. amuse me for a paragraph or three…\r\n\r\nMarine Le Pen (National Front) is what can be termed a populist candidate. Like “THE DONALD” she has a fixed number of supporters that will support her no matter what. Her voting base is NOT going down. It only has one way to go.\r\n\r\nThe others: -\r\n<ul>\r\n 	<li>Benoit Hamon – Socialist</li>\r\n 	<li>Emmanuel Macron – En Marche</li>\r\n 	<li>Francois Fillon – Republican</li>\r\n 	<li>Jean-Luc Melenchon – The Left Party</li>\r\n</ul>\r\nThe above four candidates will fight it out amongst themselves to see who goes up against Le Pen in the second ballot according to the French press.\r\n\r\nThe question is how many of the voters whose candidate is not going through to round two will vote for Marine Le Pen?\r\n\r\nIs it feasible? Is it possible that Le Pens voting bloc in the second ballot will increase? I would say yes.\r\n\r\nThe question is by how much?\r\n\r\nShould Le Pen appeal in the final stages to those voters disillusioned with Brussels, who look across the English Channel to see a free UK without the constraints of the EUROPEAN UNION hanging over it as an option worth considering it is no longer a slam dunk. In fact, it’s far from a slam dunk decision. It may be unlikely but it is nevertheless a possible outcome that Le Pen could win.\r\n\r\nShould this happen, there will be no more EUROPEAN UNION, no more EUROZONE. As A founder member with Germany, I just could not see how the EU could continue. This would be a crisis, in fact, it would re-define the word.\r\n\r\nTo think that after 60 years in existence the EUROPEAN UNION is still so fragile beggar’s belief. It should by now have been unified and integrated to such an extent with all countries populations prosperous that the thought of leaving the UNION is not even an agenda item.\r\n\r\nPoliticians and self-serving bureaucrats have milked the EU for all they could benefit from at the expense of building solid foundations and creating policies to unite, grow, influence and stabilize the continent.\r\n\r\nWhat we have now is due to the fact that politicians are only interested in popularity through votes and the bureaucrats with pensions and expense accounts. There was never a credible long term view with key success factors built in to measure actual success.\r\n\r\nThe EUROPEAN UNION has failed to unite governments never mind the EU populations on many levels at different times, such as:\r\n<ul>\r\n 	<li>Defence and Security</li>\r\n 	<li>The Social Chapter</li>\r\n 	<li>Banking</li>\r\n 	<li>Taxation</li>\r\n 	<li>Debt Management and Controls</li>\r\n 	<li>Fiscal Planning and Constraints</li>\r\n 	<li>Immigration and Border Controls</li>\r\n 	<li>Freedom of Movement</li>\r\n 	<li>Food Planning (Agriculture)</li>\r\n 	<li>Health minimums</li>\r\n 	<li>Education minimums</li>\r\n</ul>\r\nThe list is endless.\r\n\r\nI know that I am always very critical of the EU and its workings. But it has just not evolved. It never matured or aged in such a way to grow, unite and bond members. It thrives on a fragmented approach to most topics. The problem that creates this is narrow minded politicians with a short time frame in office and poorly managed and focused centralized operation in Brussels, which in my opinion is self-serving rather than actually doing anything meaningful or long that they could be proud of.\r\n\r\nWithout doubt there are wins, but are they big wins? From my perspective, it’s just interference that is poorly managed or directed. The Apple case is one in question. An upstart from Brussels is in interfering in a sovereign states tax affairs.\r\n\r\nIt is somewhat similar to the Quebec governments language police who cautioned an Italian restaurant for the numbers of times it wrote PASTA on its menu.\r\n\r\nFor God\'s sake people are paid good money for these jobs that could save lives. PASTAGATE as it is now known showed how protectionist, out of touch, mis-managed Quebec as a province is. \"People can die waiting to see a Doctor, but we will not accept PASTA written on an Italian restaurants menu. Absolutely bloody ridiculous and it cannot be defended. What is the French word for PASTA?\r\n\r\nBrussels is on the same path maybe not quite so stupid in delivery as Quebec, but they are on the same road.\r\n\r\nBasically, I always return to two basic issues.\r\n<ul>\r\n 	<li>19 countries in the EUROZONE basically using the same cheque book does not work.</li>\r\n 	<li>A mix of all the different cultures has created mistrust throughout the ages and makes harmony, unification on a common purpose practically impossible</li>\r\n</ul>\r\nPlus:\r\n\r\nPoor countries cannot afford what the rich counties can afford. Some countries benefit from natural resources others don\'t, it is just not a level playing field and one size does not fit all.\r\n\r\nTrading the single currency over the coming year should be quite a ride. I am bearish and see a test of parity possibly on the cards. It will not be a straight move lower as some have predicted. We should in my opinion push and pull our way lower.\r\n\r\nWe have major headwinds in the EUROPEAN UNION: -\r\n<ul>\r\n 	<li>Elections in FRANCE</li>\r\n 	<li>Elections in GERMANY</li>\r\n 	<li>Elections in HOLLAND</li>\r\n 	<li>The UK BREXIT to deal with “cleanly”</li>\r\n 	<li>ITALIAN Bank debt to sort out and fix</li>\r\n 	<li>GREECE bailout Act IV</li>\r\n</ul>\r\nThere is so much uncertainty in that list above, the single currency should move lower.\r\n\r\nWith a US FED raising rates we have divergent policies between the hawkish FED and the dovish ECB. Mario Draghi simply cannot afford to stop supporting the single currency given the uncertainties ahead and Janet Yellen has now indicated in the clearest language possible that the FED is embarking on a rate rising monetary policy program.\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: #234 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> March 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'EUROZONE – NOT AN EXPERIMENT JUST A F**K UP', '', 'publish', 'open', 'closed', '', 'eurozone-not-experiment-just-fk', '', '', '2017-03-05 03:35:22', '2017-03-05 08:35:22', '', 0, 'https://weeklyfxdrivethru.com/?p=9252', 0, 'post', '', 0);
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(9253, 1, '2017-03-04 07:40:56', '2017-03-04 12:40:56', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAs we all know and recognize, trading is about consistency, banking $$$, making pips and longevity through effective RISK MANAGEMENT, POSITION SIZING and trading with a TRADE PLAN.\r\n\r\nWhen you break it all down into its main constituent parts it’s actually very simple and straightforward. I have pages and pages referring to the above points on a multiple of PDF documents inside the PREMIUM SERVICE website. I read a few the other day to refresh the validity of the content and I must say albeit that some articles were saved from 2010 and earlier, they are still as relevant today as they were when they were initially posted.\r\n\r\nTrading is basically a formula that needs “tweaking” every now and then but basically it is repetition based around a proven formula.\r\n\r\nBasically, at the outset of 2017. I tweaked (so to speak) to accommodate “THE DONALD”.\r\n\r\nAfter a couple of sticky weeks in January, and reviewing my TRADE PLAN for 2017, I am still in trade transition mode but I am now banking more $$$ and pips.\r\n\r\nAs mentioned recently, I continue to establish CORE POSITIONS for my longer-term trades in e.g. EUR/USD and GBP/USD, and I am happy with the progress so far. I now just need the March 15<sup>th</sup> FOMC meeting out of the way, so that I can complete the longer-term transition outlined a few weeks ago to PREMIUM SERVICE subscribers by the end of Q1.\r\n\r\nI have virtually ignored my day trading trade styles of FLASH and RADAR trades throughout this process. This has been deliberate, based upon the fact that in his earlier days as President, “THE DONALD” created chaos and disorder in the markets and frankly whilst I sit over my screens, I have numerous trades open at any one time and the inclusion of short-term trade styles would just create frustration and annoyance.\r\n\r\nAfter the FOMC meeting, I am hoping like most traders that trading will have a greater clarity moving forward. This should enable a greater trading confidence using the smaller minute charts.\r\n\r\nMoving on…\r\n\r\nLast week was a strange week. I was caught up in the emotion of the “State of The Union” address by “THE DONALD”, at the end of the day it was a 100% Presidential address, even hard line opponents had to applaud on some bi-partisan pledges. Now… whether “THE DONALD” or the Republican Party allow some of the pledges to stand is debatable, but what I will say is that “THE DONALD” has one obvious trait like “MAGGIE”, and that is - he does what he says he is going to do.\r\n\r\nFrom a trading perspective, no fireworks and the markets will always buy promises made, regardless of who says it.\r\n\r\nThere was a lot of FED speak last week ending with Janet Yellen and Stanley Fischer. It was all very positive to moving US interest rates higher sooner rather than later. Even the doves were more hawkish; the most noteworthy in my opinion was Lael Brainard.\r\n\r\nOn Friday, both Yellen and Fischer basically all but said the FED will normalize and raise rates at the March meeting. It was so clear; the markets cannot be surprised. The only annoying factor was that when Yellen finished her Q&amp;A some profit taking took place and the DXY fell lower…. argh!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017.png\"><img class=\"aligncenter size-large wp-image-9244\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017-1024x455.png\" alt=\"\" width=\"1024\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\nIt was fascinating to see that in 4 days the market sentiment for a FED rate increase on March 15<sup>th</sup> moved from 38% to almost 90%. Crazy, and it just shows you what we are dealing with. Very reactionary… almost TRUMP LIKE.\r\n\r\nThe commentary kept the USD bid most of the week. I must admit though as the TRUMP administration and possibly soon to be “Presidential currency manipulator Donald” want the USD weaker, I was waiting upon the tweet to stop the DXY move higher in its tracks. It never happened, TRUMP was so busy with White House leaks, FBI cover ups, Russians in da house and Jeff Sessions having vodka shots, he was probably 100% contained flying from crisis meeting to crisis meeting trying to keep the syrup in position (SYRUP = Cockney rhyming slang – “syrup of fig = wig”).\r\n\r\nApart from the US news the bigger news to dominate the wires related to the UK and the EUROPEAN UNION.\r\n\r\nIn the UK, Theresa May is starting to feel the pinch on BREXIT and its potential fallout. The PMi data this week was mixed but they were over shadowed by the House of Lords amendments to the BREXIT bill and the Scottish Parliament wanting another shot at a referendum on remaining part of the UK.\r\n\r\nThe key support level of 1.2260; the 61.8% Fibonacci level of the 1.2706/1.1987 move, was broken after offering stubborn support opening the way lower for a test of the psychological 1.2000 level and then the October 2016 low of 1.1841.\r\n\r\nEUROPE, was once again dominated by the French elections. I am using EUROPE and all things happening there as my “SOAPBOX” article this week so I will save my comments, views and thoughts for later.\r\n\r\nMore…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #7 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length.\r\n\r\n#7 is on Monday 6<sup>th</sup> March 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 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.: -\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\nFinally, in this section…\r\n\r\nThe March winner of the “FREE 10-week PREMIUM SERVICE” subscription was\r\nbrian*******@gmail.com\r\n\r\nBy the time this blog is posted Brain should be loaded up and ready to go.\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017.png\"><img class=\"aligncenter size-large wp-image-9225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017-1024x873.png\" alt=\"\" width=\"1024\" height=\"873\" /></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<ol>\r\n 	<li>USD: Obviously, the star of the week for US data is Friday’s Non-Farm payrolls. No doubt should the number be a blow out one can consider a FED rate hike the following week nailed on.</li>\r\n 	<li>AUD: Down under we have Retail Sales and the RBA Rate statement to start the week off. The AUD has sold off of late following poor Cap Ex and GDP data. I am not expecting a change in interest rates but the commentary will be interesting to read to see is the RBA still neutral.</li>\r\n 	<li>GBP: The Tory party (UK Government) budget is released Wednesday.</li>\r\n 	<li>EUR: Draghi has a press conference this Thursday and there will be massive attention placed upon what he doesn’t say maybe rather than what he does say vis-à-vis tapering the Quantitative Easing monthly amount given the fact that EUROZONE economic data is now starting to show recovery.\r\n\r\nI think he will play everything down citing EUROZONE political risks and that any recovery is fragile.\r\n\r\nWhether he will get away with this approach is debatable… we shall see what he does.</li>\r\n 	<li>CAD: Jobs data released at the same time as US NFP. The BOC kept rates on hold last week. Jobs data has been very mixed of late with part-time workers blurring the data somewhat, so this release should show a trend… good or bad.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017-1024x850.png\" alt=\"\" width=\"1024\" height=\"850\" /></a>\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\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9236\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9237\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9238\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9239\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9240\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9241\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\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\nIf you would like to watch/listen to a c.40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading, all you need to do is click the link below. All of what I call my differentiation features and benefits are listed and talked about plus I show you the potential income opportunity that is available to subscribers.\r\n\r\nClick 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\nIn addition, 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.\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 ONLY AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>EUROZONE – NOT AN EXPERIMENT JUST A F**K UP</strong><strong> </strong>\r\n\r\nFor the second week running, I could have made the title of the soapbox this week: -\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was, I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nI find myself constantly bashing the EUROZONE. In principle, I suppose it\'s a great idea but in the real world it is just a poor constituted fuck up. It is doomed, not a question of “if” but “when”.\r\n\r\nLast week the EUROPEAN COMMISSION released a white paper outlining 5 scenarios for the future of the EUROPEAN UNION. This emanated from the desk of the EUROPEAN COMMISSION President, Jean-Claude Junker. It was a classic effort from the desk sucking, pen pushing, jotter blotter from Brussels. As you can imagine I was over this like a rash, or a rat up a drainpipe.\r\n\r\nI do not want to replicate the paper you can search on google to find it but it had interesting section titles as follows: -\r\n<ul>\r\n 	<li>Carrying on</li>\r\n 	<li>Nothing but the single market</li>\r\n 	<li>Those who want to do more</li>\r\n 	<li>Doing less more efficiently</li>\r\n 	<li>Doing much more together</li>\r\n</ul>\r\nSounds great. As an overview from my perspective it was released in time for the 25<sup>th</sup> March 60<sup>th</sup> anniversary of the EUROPEAN UNION previously referred to as the COMMON MARKET. It is obviously intended to try and focus and harmonize the remaining members following the UK’s decision to EXIT.\r\n\r\nOn first glance, it looks real enough, the EU challenges show no sign of abating. He alludes to the fact the EU is a balancing act as many Europeans consider the EU and EUROZONE too interfering.\r\n\r\nYou can read it yourselves, but Junker still misses the point. He approaches the EUROPEAN UNION and EUROZONE purely and simply from the view of job protection for the boys and girls in Brussels. Basically, the gravy train continues. He wants continued governance from Brussels, there’s about 10,000 additional jobs, expense accounts and big pay checks with index linked pensions and private health benefits.\r\nTighter financial controls. Controls of single currency member’s budgets.\r\n\r\nNo change. He wants to secure the very things that piss people off. Remember the fruit-case from Brussels who went above the Irish government to fine Apple for tax avoidance, even though the deal was done for Apple by the Irish government utilizing Irish tax rules. WTF, has this got to do with some pen pusher in Brussels? This is the type of interference that pisses people off so I am gob smacked that Junker has done nothing to distance the bureaucracy of Brussels from an individual country’s sovereignty.\r\n\r\nMany American political and economic commentators still refer to the EUROPEAN UNION and EUROZONE as an experiment, this must wind up Brussels officials like you cannot imagine. It’s been in existence for 60 years in one form or another, so even I think the term “experiment” is a bit rich. Having said that many American commentators think EUROPE is a country and GERMANY is its capital city! Joe Kernan (CNBC) springs to mind with most EUROZONE gaffs, I still don\'t think he understands that IRELAND and NORTHERN IRELAND are two different counties with different currencies. It beggars belief he is still on TV… never mind prime time business TV.\r\n\r\nSo; when someone asks, is the EUROPEAN UNION learning from the BREXIT and forging a more inclusive way forward to include those who feel that Brussels is too interfering? Bollocks to all that let’s march on as before appears to be the mantra.\r\n\r\nIt would appear to me nothing learned, just protect the bureaucracy.\r\n\r\nHow long does the EUROPEAN UNION last.?\r\n\r\nIf Marine Le Pen is elected as the new French President it will implode and the single currency will be at 0.0050 or less in a few days. It will be a crisis to beat all crises and even the biggest can in the world to kick down the road just wouldn’t do.\r\n\r\nThe pollsters openly state that Marine Le Pen will win the first round of voting. However, she will lose the second ballot.\r\n\r\nHere are my thoughts…. amuse me for a paragraph or three…\r\n\r\nMarine Le Pen (National Front) is what can be termed a populist candidate. Like “THE DONALD” she has a fixed number of supporters that will support her no matter what. Her voting base is NOT going down. It only has one way to go.\r\n\r\nThe others: -\r\n<ul>\r\n 	<li>Benoit Hamon – Socialist</li>\r\n 	<li>Emmanuel Macron – En Marche</li>\r\n 	<li>Francois Fillon – Republican</li>\r\n 	<li>Jean-Luc Melenchon – The Left Party</li>\r\n</ul>\r\nThe above four candidates will fight it out amongst themselves to see who goes up against Le Pen in the second ballot according to the French press.\r\n\r\nThe question is how many of the voters whose candidate is not going through to round two will vote for Marine Le Pen?\r\n\r\nIs it feasible? Is it possible that Le Pens voting bloc in the second ballot will increase? I would say yes.\r\n\r\nThe question is by how much?\r\n\r\nShould Le Pen appeal in the final stages to those voters disillusioned with Brussels, who look across the English Channel to see a free UK without the constraints of the EUROPEAN UNION hanging over it as an option worth considering it is no longer a slam dunk. In fact, it’s far from a slam dunk decision. It may be unlikely but it is nevertheless a possible outcome that Le Pen could win.\r\n\r\nShould this happen, there will be no more EUROPEAN UNION, no more EUROZONE. As A founder member with Germany, I just could not see how the EU could continue. This would be a crisis, in fact, it would re-define the word.\r\n\r\nTo think that after 60 years in existence the EUROPEAN UNION is still so fragile beggar’s belief. It should by now have been unified and integrated to such an extent with all countries populations prosperous that the thought of leaving the UNION is not even an agenda item.\r\n\r\nPoliticians and self-serving bureaucrats have milked the EU for all they could benefit from at the expense of building solid foundations and creating policies to unite, grow, influence and stabilize the continent.\r\n\r\nWhat we have now is due to the fact that politicians are only interested in popularity through votes and the bureaucrats with pensions and expense accounts. There was never a credible long term view with key success factors built in to measure actual success.\r\n\r\nThe EUROPEAN UNION has failed to unite governments never mind the EU populations on many levels at different times, such as:\r\n<ul>\r\n 	<li>Defence and Security</li>\r\n 	<li>The Social Chapter</li>\r\n 	<li>Banking</li>\r\n 	<li>Taxation</li>\r\n 	<li>Debt Management and Controls</li>\r\n 	<li>Fiscal Planning and Constraints</li>\r\n 	<li>Immigration and Border Controls</li>\r\n 	<li>Freedom of Movement</li>\r\n 	<li>Food Planning (Agriculture)</li>\r\n 	<li>Health minimums</li>\r\n 	<li>Education minimums</li>\r\n</ul>\r\nThe list is endless.\r\n\r\nI know that I am always very critical of the EU and its workings. But it has just not evolved. It never matured or aged in such a way to grow, unite and bond members. It thrives on a fragmented approach to most topics. The problem that creates this is narrow minded politicians with a short time frame in office and poorly managed and focused centralized operation in Brussels, which in my opinion is self-serving rather than actually doing anything meaningful or long that they could be proud of.\r\n\r\nWithout doubt there are wins, but are they big wins? From my perspective, it’s just interference that is poorly managed or directed. The Apple case is one in question. An upstart from Brussels is in interfering in a sovereign states tax affairs.\r\n\r\nIt is somewhat similar to the Quebec governments language police who cautioned an Italian restaurant for the numbers of times it wrote PASTA on its menu.\r\n\r\nFor God\'s sake people are paid good money for these jobs that could save lives. PASTAGATE as it is now known showed how protectionist, out of touch, mis-managed Quebec as a province is. \"People can die waiting to see a Doctor, but we will not accept PASTA written on an Italian restaurants menu. Absolutely bloody ridiculous and it cannot be defended. What is the French word for PASTA?\r\n\r\nBrussels is on the same path maybe not quite so stupid in delivery as Quebec, but they are on the same road.\r\n\r\nBasically, I always return to two basic issues.\r\n<ul>\r\n 	<li>19 countries in the EUROZONE basically using the same cheque book does not work.</li>\r\n 	<li>A mix of all the different cultures has created mistrust throughout the ages and makes harmony, unification on a common purpose practically impossible</li>\r\n</ul>\r\nPlus:\r\n\r\nPoor countries cannot afford what the rich counties can afford. Some countries benefit from natural resources others don\'t, it is just not a level playing field and one size does not fit all.\r\n\r\nTrading the single currency over the coming year should be quite a ride. I am bearish and see a test of parity possibly on the cards. It will not be a straight move lower as some have predicted. We should in my opinion push and pull our way lower.\r\n\r\nWe have major headwinds in the EUROPEAN UNION: -\r\n<ul>\r\n 	<li>Elections in FRANCE</li>\r\n 	<li>Elections in GERMANY</li>\r\n 	<li>Elections in HOLLAND</li>\r\n 	<li>The UK BREXIT to deal with “cleanly”</li>\r\n 	<li>ITALIAN Bank debt to sort out and fix</li>\r\n 	<li>GREECE bailout Act IV</li>\r\n</ul>\r\nThere is so much uncertainty in that list above, the single currency should move lower.\r\n\r\nWith a US FED raising rates we have divergent policies between the hawkish FED and the dovish ECB. Mario Draghi simply cannot afford to stop supporting the single currency given the uncertainties ahead and Janet Yellen has now indicated in the clearest language possible that the FED is embarking on a rate rising monetary policy program.\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: #234 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> March 2017.<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;', 'EUROZONE – NOT AN EXPERIMENT JUST A F**K UP', '', 'inherit', 'closed', 'closed', '', '9252-revision-v1', '', '', '2017-03-04 07:40:56', '2017-03-04 12:40:56', '', 9252, 'https://weeklyfxdrivethru.com/9252-revision-v1/', 0, 'revision', '', 0);
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(9254, 1, '2017-03-04 11:23:42', '2017-03-04 16:23:42', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAs we all know and recognize, trading is about consistency, banking $$$, making pips and longevity through effective RISK MANAGEMENT, POSITION SIZING and trading with a TRADE PLAN.\r\n\r\nWhen you break it all down into its main constituent parts it’s actually very simple and straightforward. I have pages and pages referring to the above points on a multiple of PDF documents inside the PREMIUM SERVICE website. I read a few the other day to refresh the validity of the content and I must say albeit that some articles were saved from 2010 and earlier, they are still as relevant today as they were when they were initially posted.\r\n\r\nTrading is basically a formula that needs “tweaking” every now and then but basically it is repetition based around a proven formula.\r\n\r\nBasically, at the outset of 2017. I tweaked (so to speak) to accommodate “THE DONALD”.\r\n\r\nAfter a couple of sticky weeks in January, and reviewing my TRADE PLAN for 2017, I am still in trade transition mode but I am now banking more $$$ and pips.\r\n\r\nAs mentioned recently, I continue to establish CORE POSITIONS for my longer-term trades in e.g. EUR/USD and GBP/USD, and I am happy with the progress so far. I now just need the March 15<sup>th</sup> FOMC meeting out of the way, so that I can complete the longer-term transition outlined a few weeks ago to PREMIUM SERVICE subscribers by the end of Q1.\r\n\r\nI have virtually ignored my day trading trade styles of FLASH and RADAR trades throughout this process. This has been deliberate, based upon the fact that in his earlier days as President, “THE DONALD” created chaos and disorder in the markets and frankly whilst I sit over my screens, I have numerous trades open at any one time and the inclusion of short-term trade styles would just create frustration and annoyance.\r\n\r\nAfter the FOMC meeting, I am hoping like most traders that trading will have a greater clarity moving forward. This should enable a greater trading confidence using the smaller minute charts.\r\n\r\nMoving on…\r\n\r\nLast week was a strange week. I was caught up in the emotion of the “State of The Union” address by “THE DONALD”, at the end of the day it was a 100% Presidential address, even hard line opponents had to applaud on some bi-partisan pledges. Now… whether “THE DONALD” or the Republican Party allow some of the pledges to stand is debatable, but what I will say is that “THE DONALD” has one obvious trait like “MAGGIE”, and that is - he does what he says he is going to do.\r\n\r\nFrom a trading perspective, no fireworks and the markets will always buy promises made, regardless of who says it.\r\n\r\nThere was a lot of FED speak last week ending with Janet Yellen and Stanley Fischer. It was all very positive to moving US interest rates higher sooner rather than later. Even the doves were more hawkish; the most noteworthy in my opinion was Lael Brainard.\r\n\r\nOn Friday, both Yellen and Fischer basically all but said the FED will normalize and raise rates at the March meeting. It was so clear; the markets cannot be surprised. The only annoying factor was that when Yellen finished her Q&amp;A some profit taking took place and the DXY fell lower…. argh!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017.png\"><img class=\"aligncenter size-large wp-image-9244\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017-1024x455.png\" alt=\"\" width=\"1024\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\nIt was fascinating to see that in 4 days the market sentiment for a FED rate increase on March 15<sup>th</sup> moved from 38% to almost 90%. Crazy, and it just shows you what we are dealing with. Very reactionary… almost TRUMP LIKE.\r\n\r\nThe commentary kept the USD bid most of the week. I must admit though as the TRUMP administration and possibly soon to be “Presidential currency manipulator Donald” want the USD weaker, I was waiting upon the tweet to stop the DXY move higher in its tracks. It never happened, TRUMP was so busy with White House leaks, FBI cover ups, Russians in da house and Jeff Sessions having vodka shots, he was probably 100% contained flying from crisis meeting to crisis meeting trying to keep the syrup in position (SYRUP = Cockney rhyming slang – “syrup of fig = wig”).\r\n\r\nApart from the US news the bigger news to dominate the wires related to the UK and the EUROPEAN UNION.\r\n\r\nIn the UK, Theresa May is starting to feel the pinch on BREXIT and its potential fallout. The PMi data this week was mixed but they were over shadowed by the House of Lords amendments to the BREXIT bill and the Scottish Parliament wanting another shot at a referendum on remaining part of the UK.\r\n\r\nThe key support level of 1.2260; the 61.8% Fibonacci level of the 1.2706/1.1987 move, was broken after offering stubborn support opening the way lower for a test of the psychological 1.2000 level and then the October 2016 low of 1.1841.\r\n\r\nEUROPE, was once again dominated by the French elections. I am using EUROPE and all things happening there as my “SOAPBOX” article this week so I will save my comments, views and thoughts for later.\r\n\r\nMore…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #7 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length.\r\n\r\n#7 is on Monday 6<sup>th</sup> March 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 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.: -\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\nFinally, in this section…\r\n\r\nThe March winner of the “FREE 10-week PREMIUM SERVICE” subscription was\r\nbrian*******@gmail.com\r\n\r\nBy the time this blog is posted Brain should be loaded up and ready to go.\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017.png\"><img class=\"aligncenter size-large wp-image-9225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017-1024x873.png\" alt=\"\" width=\"1024\" height=\"873\" /></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<ol>\r\n 	<li>USD: Obviously, the star of the week for US data is Friday’s Non-Farm payrolls. No doubt should the number be a blow out one can consider a FED rate hike the following week nailed on.</li>\r\n 	<li>AUD: Down under we have Retail Sales and the RBA Rate statement to start the week off. The AUD has sold off of late following poor Cap Ex and GDP data. I am not expecting a change in interest rates but the commentary will be interesting to read to see is the RBA still neutral.</li>\r\n 	<li>GBP: The Tory party (UK Government) budget is released Wednesday.</li>\r\n 	<li>EUR: Draghi has a press conference this Thursday and there will be massive attention placed upon what he doesn’t say maybe rather than what he does say vis-à-vis tapering the Quantitative Easing monthly amount given the fact that EUROZONE economic data is now starting to show recovery.I think he will play everything down citing EUROZONE political risks and that any recovery is fragile.\r\n\r\nWhether he will get away with this approach is debatable… we shall see what he does.</li>\r\n 	<li>CAD: Jobs data released at the same time as US NFP. The BOC kept rates on hold last week. Jobs data has been very mixed of late with part-time workers blurring the data somewhat, so this release should show a trend… good or bad.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017-1024x850.png\" alt=\"\" width=\"1024\" height=\"850\" /></a>\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\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9236\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9237\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9238\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9239\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9240\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9241\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\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\nIf you would like to watch/listen to a c.40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading, all you need to do is click the link below. All of what I call my differentiation features and benefits are listed and talked about plus I show you the potential income opportunity that is available to subscribers.\r\n\r\nClick 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\nIn addition, 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.\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 ONLY AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>EUROZONE – NOT AN EXPERIMENT JUST A F**K UP</strong><strong> </strong>\r\n\r\nFor the second week running, I could have made the title of the soapbox this week: -\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was, I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nI find myself constantly bashing the EUROZONE. In principle, I suppose it\'s a great idea but in the real world it is just a poor constituted fuck up. It is doomed, not a question of “if” but “when”.\r\n\r\nLast week the EUROPEAN COMMISSION released a white paper outlining 5 scenarios for the future of the EUROPEAN UNION. This emanated from the desk of the EUROPEAN COMMISSION President, Jean-Claude Junker. It was a classic effort from the desk sucking, pen pushing, jotter blotter from Brussels. As you can imagine I was over this like a rash, or a rat up a drainpipe.\r\n\r\nI do not want to replicate the paper you can search on google to find it but it had interesting section titles as follows: -\r\n<ul>\r\n 	<li>Carrying on</li>\r\n 	<li>Nothing but the single market</li>\r\n 	<li>Those who want to do more</li>\r\n 	<li>Doing less more efficiently</li>\r\n 	<li>Doing much more together</li>\r\n</ul>\r\nSounds great. As an overview from my perspective it was released in time for the 25<sup>th</sup> March 60<sup>th</sup> anniversary of the EUROPEAN UNION previously referred to as the COMMON MARKET. It is obviously intended to try and focus and harmonize the remaining members following the UK’s decision to EXIT.\r\n\r\nOn first glance, it looks real enough, the EU challenges show no sign of abating. He alludes to the fact the EU is a balancing act as many Europeans consider the EU and EUROZONE too interfering.\r\n\r\nYou can read it yourselves, but Junker still misses the point. He approaches the EUROPEAN UNION and EUROZONE purely and simply from the view of job protection for the boys and girls in Brussels. Basically, the gravy train continues. He wants continued governance from Brussels, there’s about 10,000 additional jobs, expense accounts and big pay checks with index linked pensions and private health benefits.\r\nTighter financial controls. Controls of single currency member’s budgets.\r\n\r\nNo change. He wants to secure the very things that piss people off. Remember the fruit-case from Brussels who went above the Irish government to fine Apple for tax avoidance, even though the deal was done for Apple by the Irish government utilizing Irish tax rules. WTF, has this got to do with some pen pusher in Brussels? This is the type of interference that pisses people off so I am gob smacked that Junker has done nothing to distance the bureaucracy of Brussels from an individual country’s sovereignty.\r\n\r\nMany American political and economic commentators still refer to the EUROPEAN UNION and EUROZONE as an experiment, this must wind up Brussels officials like you cannot imagine. It’s been in existence for 60 years in one form or another, so even I think the term “experiment” is a bit rich. Having said that many American commentators think EUROPE is a country and GERMANY is its capital city! Joe Kernan (CNBC) springs to mind with most EUROZONE gaffs, I still don\'t think he understands that IRELAND and NORTHERN IRELAND are two different counties with different currencies. It beggars belief he is still on TV… never mind prime time business TV.\r\n\r\nSo; when someone asks, is the EUROPEAN UNION learning from the BREXIT and forging a more inclusive way forward to include those who feel that Brussels is too interfering? Bollocks to all that let’s march on as before appears to be the mantra.\r\n\r\nIt would appear to me nothing learned, just protect the bureaucracy.\r\n\r\nHow long does the EUROPEAN UNION last.?\r\n\r\nIf Marine Le Pen is elected as the new French President it will implode and the single currency will be at 0.0050 or less in a few days. It will be a crisis to beat all crises and even the biggest can in the world to kick down the road just wouldn’t do.\r\n\r\nThe pollsters openly state that Marine Le Pen will win the first round of voting. However, she will lose the second ballot.\r\n\r\nHere are my thoughts…. amuse me for a paragraph or three…\r\n\r\nMarine Le Pen (National Front) is what can be termed a populist candidate. Like “THE DONALD” she has a fixed number of supporters that will support her no matter what. Her voting base is NOT going down. It only has one way to go.\r\n\r\nThe others: -\r\n<ul>\r\n 	<li>Benoit Hamon – Socialist</li>\r\n 	<li>Emmanuel Macron – En Marche</li>\r\n 	<li>Francois Fillon – Republican</li>\r\n 	<li>Jean-Luc Melenchon – The Left Party</li>\r\n</ul>\r\nThe above four candidates will fight it out amongst themselves to see who goes up against Le Pen in the second ballot according to the French press.\r\n\r\nThe question is how many of the voters whose candidate is not going through to round two will vote for Marine Le Pen?\r\n\r\nIs it feasible? Is it possible that Le Pens voting bloc in the second ballot will increase? I would say yes.\r\n\r\nThe question is by how much?\r\n\r\nShould Le Pen appeal in the final stages to those voters disillusioned with Brussels, who look across the English Channel to see a free UK without the constraints of the EUROPEAN UNION hanging over it as an option worth considering it is no longer a slam dunk. In fact, it’s far from a slam dunk decision. It may be unlikely but it is nevertheless a possible outcome that Le Pen could win.\r\n\r\nShould this happen, there will be no more EUROPEAN UNION, no more EUROZONE. As A founder member with Germany, I just could not see how the EU could continue. This would be a crisis, in fact, it would re-define the word.\r\n\r\nTo think that after 60 years in existence the EUROPEAN UNION is still so fragile beggar’s belief. It should by now have been unified and integrated to such an extent with all countries populations prosperous that the thought of leaving the UNION is not even an agenda item.\r\n\r\nPoliticians and self-serving bureaucrats have milked the EU for all they could benefit from at the expense of building solid foundations and creating policies to unite, grow, influence and stabilize the continent.\r\n\r\nWhat we have now is due to the fact that politicians are only interested in popularity through votes and the bureaucrats with pensions and expense accounts. There was never a credible long term view with key success factors built in to measure actual success.\r\n\r\nThe EUROPEAN UNION has failed to unite governments never mind the EU populations on many levels at different times, such as:\r\n<ul>\r\n 	<li>Defence and Security</li>\r\n 	<li>The Social Chapter</li>\r\n 	<li>Banking</li>\r\n 	<li>Taxation</li>\r\n 	<li>Debt Management and Controls</li>\r\n 	<li>Fiscal Planning and Constraints</li>\r\n 	<li>Immigration and Border Controls</li>\r\n 	<li>Freedom of Movement</li>\r\n 	<li>Food Planning (Agriculture)</li>\r\n 	<li>Health minimums</li>\r\n 	<li>Education minimums</li>\r\n</ul>\r\nThe list is endless.\r\n\r\nI know that I am always very critical of the EU and its workings. But it has just not evolved. It never matured or aged in such a way to grow, unite and bond members. It thrives on a fragmented approach to most topics. The problem that creates this is narrow minded politicians with a short time frame in office and poorly managed and focused centralized operation in Brussels, which in my opinion is self-serving rather than actually doing anything meaningful or long that they could be proud of.\r\n\r\nWithout doubt there are wins, but are they big wins? From my perspective, it’s just interference that is poorly managed or directed. The Apple case is one in question. An upstart from Brussels is in interfering in a sovereign states tax affairs.\r\n\r\nIt is somewhat similar to the Quebec governments language police who cautioned an Italian restaurant for the numbers of times it wrote PASTA on its menu.\r\n\r\nFor God\'s sake people are paid good money for these jobs that could save lives. PASTAGATE as it is now known showed how protectionist, out of touch, mis-managed Quebec as a province is. \"People can die waiting to see a Doctor, but we will not accept PASTA written on an Italian restaurants menu. Absolutely bloody ridiculous and it cannot be defended. What is the French word for PASTA?\r\n\r\nBrussels is on the same path maybe not quite so stupid in delivery as Quebec, but they are on the same road.\r\n\r\nBasically, I always return to two basic issues.\r\n<ul>\r\n 	<li>19 countries in the EUROZONE basically using the same cheque book does not work.</li>\r\n 	<li>A mix of all the different cultures has created mistrust throughout the ages and makes harmony, unification on a common purpose practically impossible</li>\r\n</ul>\r\nPlus:\r\n\r\nPoor countries cannot afford what the rich counties can afford. Some countries benefit from natural resources others don\'t, it is just not a level playing field and one size does not fit all.\r\n\r\nTrading the single currency over the coming year should be quite a ride. I am bearish and see a test of parity possibly on the cards. It will not be a straight move lower as some have predicted. We should in my opinion push and pull our way lower.\r\n\r\nWe have major headwinds in the EUROPEAN UNION: -\r\n<ul>\r\n 	<li>Elections in FRANCE</li>\r\n 	<li>Elections in GERMANY</li>\r\n 	<li>Elections in HOLLAND</li>\r\n 	<li>The UK BREXIT to deal with “cleanly”</li>\r\n 	<li>ITALIAN Bank debt to sort out and fix</li>\r\n 	<li>GREECE bailout Act IV</li>\r\n</ul>\r\nThere is so much uncertainty in that list above, the single currency should move lower.\r\n\r\nWith a US FED raising rates we have divergent policies between the hawkish FED and the dovish ECB. Mario Draghi simply cannot afford to stop supporting the single currency given the uncertainties ahead and Janet Yellen has now indicated in the clearest language possible that the FED is embarking on a rate rising monetary policy program.\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: #234 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> March 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'EUROZONE – NOT AN EXPERIMENT JUST A F**K UP', '', 'inherit', 'closed', 'closed', '', '9252-revision-v1', '', '', '2017-03-04 11:23:42', '2017-03-04 16:23:42', '', 9252, 'https://weeklyfxdrivethru.com/9252-revision-v1/', 0, 'revision', '', 0);
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(9255, 1, '2017-03-05 03:35:22', '2017-03-05 08:35:22', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAs we all know and recognize, trading is about consistency, banking $$$, making pips and longevity through effective RISK MANAGEMENT, POSITION SIZING and trading with a TRADE PLAN.\r\n\r\nWhen you break it all down into its main constituent parts it’s actually very simple and straightforward. I have pages and pages referring to the above points on a multiple of PDF documents inside the PREMIUM SERVICE website. I read a few the other day to refresh the validity of the content and I must say albeit that some articles were saved from 2010 and earlier, they are still as relevant today as they were when they were initially posted.\r\n\r\nTrading is basically a formula that needs “tweaking” every now and then but basically it is repetition based around a proven formula.\r\n\r\nBasically, at the outset of 2017. I tweaked (so to speak) to accommodate “THE DONALD”.\r\n\r\nAfter a couple of sticky weeks in January, and reviewing my TRADE PLAN for 2017, I am still in trade transition mode but I am now banking more $$$ and pips.\r\n\r\nAs mentioned recently, I continue to establish CORE POSITIONS for my longer-term trades in e.g. EUR/USD and GBP/USD, and I am happy with the progress so far. I now just need the March 15<sup>th</sup> FOMC meeting out of the way, so that I can complete the longer-term transition outlined a few weeks ago to PREMIUM SERVICE subscribers by the end of Q1.\r\n\r\nI have virtually ignored my day trading trade styles of FLASH and RADAR trades throughout this process. This has been deliberate, based upon the fact that in his earlier days as President, “THE DONALD” created chaos and disorder in the markets and frankly whilst I sit over my screens, I have numerous trades open at any one time and the inclusion of short-term trade styles would just create frustration and annoyance.\r\n\r\nAfter the FOMC meeting, I am hoping like most traders that trading will have a greater clarity moving forward. This should enable a greater trading confidence using the smaller minute charts.\r\n\r\nMoving on…\r\n\r\nLast week was a strange week. I was caught up in the emotion of the “State of The Union” address by “THE DONALD”, at the end of the day it was a 100% Presidential address, even hard line opponents had to applaud on some bi-partisan pledges. Now… whether “THE DONALD” or the Republican Party allow some of the pledges to stand is debatable, but what I will say is that “THE DONALD” has one obvious trait like “MAGGIE”, and that is - he does what he says he is going to do.\r\n\r\nFrom a trading perspective, no fireworks and the markets will always buy promises made, regardless of who says it.\r\n\r\nThere was a lot of FED speak last week ending with Janet Yellen and Stanley Fischer. It was all very positive to moving US interest rates higher sooner rather than later. Even the doves were more hawkish; the most noteworthy in my opinion was Lael Brainard.\r\n\r\nOn Friday, both Yellen and Fischer basically all but said the FED will normalize and raise rates at the March meeting. It was so clear; the markets cannot be surprised. The only annoying factor was that when Yellen finished her Q&amp;A some profit taking took place and the DXY fell lower…. argh!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017.png\"><img class=\"aligncenter size-large wp-image-9244\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017-1024x455.png\" alt=\"\" width=\"1024\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\nIt was fascinating to see that in 4 days the market sentiment for a FED rate increase on March 15<sup>th</sup> moved from 38% to almost 90%. Crazy, and it just shows you what we are dealing with. Very reactionary… almost TRUMP LIKE.\r\n\r\nThe commentary kept the USD bid most of the week. I must admit though as the TRUMP administration and possibly soon to be “Presidential currency manipulator Donald” want the USD weaker, I was waiting upon the tweet to stop the DXY move higher in its tracks. It never happened, TRUMP was so busy with White House leaks, FBI cover ups, Russians in da house and Jeff Sessions having vodka shots, he was probably 100% contained flying from crisis meeting to crisis meeting trying to keep the syrup in position (SYRUP = Cockney rhyming slang – “syrup of fig = wig”).\r\n\r\nApart from the US news the bigger news to dominate the wires related to the UK and the EUROPEAN UNION.\r\n\r\nIn the UK, Theresa May is starting to feel the pinch on BREXIT and its potential fallout. The PMi data this week was mixed but they were over shadowed by the House of Lords amendments to the BREXIT bill and the Scottish Parliament wanting another shot at a referendum on remaining part of the UK.\r\n\r\nThe key support level of 1.2260; the 61.8% Fibonacci level of the 1.2706/1.1987 move, was broken after offering stubborn support opening the way lower for a test of the psychological 1.2000 level and then the October 2016 low of 1.1841.\r\n\r\nEUROPE, was once again dominated by the French elections. I am using EUROPE and all things happening there as my “SOAPBOX” article this week so I will save my comments, views and thoughts for later.\r\n\r\nMore…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #7 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length.\r\n\r\n#7 is on Monday 6<sup>th</sup> March 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 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.: -\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\nFinally, in this section…\r\n\r\nThe March winner of the “FREE 10-week PREMIUM SERVICE” subscription was\r\nbrian*******@gmail.com\r\n\r\nBy the time this blog is posted Brain should be loaded up and ready to go.\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017.png\"><img class=\"aligncenter size-large wp-image-9225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017-1024x873.png\" alt=\"\" width=\"1024\" height=\"873\" /></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<ol>\r\n 	<li>USD: Obviously, the star of the week for US data is Friday’s Non-Farm payrolls. No doubt should the number be a blow out one can consider a FED rate hike the following week nailed on.</li>\r\n 	<li>AUD: Down under we have Retail Sales and the RBA Rate statement to start the week off. The AUD has sold off of late following poor Cap Ex and GDP data. I am not expecting a change in interest rates but the commentary will be interesting to read to see is the RBA still neutral.</li>\r\n 	<li>GBP: The Tory party (UK Government) budget is released Wednesday.</li>\r\n 	<li>EUR: Draghi has a press conference this Thursday and there will be massive attention placed upon what he doesn’t say maybe rather than what he does say vis-à-vis tapering the Quantitative Easing monthly amount given the fact that EUROZONE economic data is now starting to show recovery.I think he will play everything down citing EUROZONE political risks and that any recovery is fragile.Whether he will get away with this approach is debatable… we shall see what he does.</li>\r\n 	<li>CAD: Jobs data released at the same time as US NFP. The BOC kept rates on hold last week. Jobs data has been very mixed of late with part-time workers blurring the data somewhat, so this release should show a trend… good or bad.</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-05032017.png\"><img class=\"aligncenter size-large wp-image-9226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017-1024x850.png\" alt=\"\" width=\"1024\" height=\"850\" /></a>\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\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9236\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9237\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9238\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9239\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9240\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017-1024x495.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-05032017.png\"><img class=\"aligncenter size-large wp-image-9241\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\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\nIf you would like to watch/listen to a c.40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading, all you need to do is click the link below. All of what I call my differentiation features and benefits are listed and talked about plus I show you the potential income opportunity that is available to subscribers.\r\n\r\nClick 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\nIn addition, 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.\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 ONLY AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>EUROZONE – NOT AN EXPERIMENT JUST A F**K UP</strong><strong> </strong>\r\n\r\nFor the second week running, I could have made the title of the soapbox this week: -\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was, I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nI find myself constantly bashing the EUROZONE. In principle, I suppose it\'s a great idea but in the real world it is just a poor constituted fuck up. It is doomed, not a question of “if” but “when”.\r\n\r\nLast week the EUROPEAN COMMISSION released a white paper outlining 5 scenarios for the future of the EUROPEAN UNION. This emanated from the desk of the EUROPEAN COMMISSION President, Jean-Claude Junker. It was a classic effort from the desk sucking, pen pushing, jotter blotter from Brussels. As you can imagine I was over this like a rash, or a rat up a drainpipe.\r\n\r\nI do not want to replicate the paper you can search on google to find it but it had interesting section titles as follows: -\r\n<ul>\r\n 	<li>Carrying on</li>\r\n 	<li>Nothing but the single market</li>\r\n 	<li>Those who want to do more</li>\r\n 	<li>Doing less more efficiently</li>\r\n 	<li>Doing much more together</li>\r\n</ul>\r\nSounds great. As an overview from my perspective it was released in time for the 25<sup>th</sup> March 60<sup>th</sup> anniversary of the EUROPEAN UNION previously referred to as the COMMON MARKET. It is obviously intended to try and focus and harmonize the remaining members following the UK’s decision to EXIT.\r\n\r\nOn first glance, it looks real enough, the EU challenges show no sign of abating. He alludes to the fact the EU is a balancing act as many Europeans consider the EU and EUROZONE too interfering.\r\n\r\nYou can read it yourselves, but Junker still misses the point. He approaches the EUROPEAN UNION and EUROZONE purely and simply from the view of job protection for the boys and girls in Brussels. Basically, the gravy train continues. He wants continued governance from Brussels, there’s about 10,000 additional jobs, expense accounts and big pay checks with index linked pensions and private health benefits.\r\nTighter financial controls. Controls of single currency member’s budgets.\r\n\r\nNo change. He wants to secure the very things that piss people off. Remember the fruit-case from Brussels who went above the Irish government to fine Apple for tax avoidance, even though the deal was done for Apple by the Irish government utilizing Irish tax rules. WTF, has this got to do with some pen pusher in Brussels? This is the type of interference that pisses people off so I am gob smacked that Junker has done nothing to distance the bureaucracy of Brussels from an individual country’s sovereignty.\r\n\r\nMany American political and economic commentators still refer to the EUROPEAN UNION and EUROZONE as an experiment, this must wind up Brussels officials like you cannot imagine. It’s been in existence for 60 years in one form or another, so even I think the term “experiment” is a bit rich. Having said that many American commentators think EUROPE is a country and GERMANY is its capital city! Joe Kernan (CNBC) springs to mind with most EUROZONE gaffs, I still don\'t think he understands that IRELAND and NORTHERN IRELAND are two different counties with different currencies. It beggars belief he is still on TV… never mind prime time business TV.\r\n\r\nSo; when someone asks, is the EUROPEAN UNION learning from the BREXIT and forging a more inclusive way forward to include those who feel that Brussels is too interfering? Bollocks to all that let’s march on as before appears to be the mantra.\r\n\r\nIt would appear to me nothing learned, just protect the bureaucracy.\r\n\r\nHow long does the EUROPEAN UNION last.?\r\n\r\nIf Marine Le Pen is elected as the new French President it will implode and the single currency will be at 0.0050 or less in a few days. It will be a crisis to beat all crises and even the biggest can in the world to kick down the road just wouldn’t do.\r\n\r\nThe pollsters openly state that Marine Le Pen will win the first round of voting. However, she will lose the second ballot.\r\n\r\nHere are my thoughts…. amuse me for a paragraph or three…\r\n\r\nMarine Le Pen (National Front) is what can be termed a populist candidate. Like “THE DONALD” she has a fixed number of supporters that will support her no matter what. Her voting base is NOT going down. It only has one way to go.\r\n\r\nThe others: -\r\n<ul>\r\n 	<li>Benoit Hamon – Socialist</li>\r\n 	<li>Emmanuel Macron – En Marche</li>\r\n 	<li>Francois Fillon – Republican</li>\r\n 	<li>Jean-Luc Melenchon – The Left Party</li>\r\n</ul>\r\nThe above four candidates will fight it out amongst themselves to see who goes up against Le Pen in the second ballot according to the French press.\r\n\r\nThe question is how many of the voters whose candidate is not going through to round two will vote for Marine Le Pen?\r\n\r\nIs it feasible? Is it possible that Le Pens voting bloc in the second ballot will increase? I would say yes.\r\n\r\nThe question is by how much?\r\n\r\nShould Le Pen appeal in the final stages to those voters disillusioned with Brussels, who look across the English Channel to see a free UK without the constraints of the EUROPEAN UNION hanging over it as an option worth considering it is no longer a slam dunk. In fact, it’s far from a slam dunk decision. It may be unlikely but it is nevertheless a possible outcome that Le Pen could win.\r\n\r\nShould this happen, there will be no more EUROPEAN UNION, no more EUROZONE. As A founder member with Germany, I just could not see how the EU could continue. This would be a crisis, in fact, it would re-define the word.\r\n\r\nTo think that after 60 years in existence the EUROPEAN UNION is still so fragile beggar’s belief. It should by now have been unified and integrated to such an extent with all countries populations prosperous that the thought of leaving the UNION is not even an agenda item.\r\n\r\nPoliticians and self-serving bureaucrats have milked the EU for all they could benefit from at the expense of building solid foundations and creating policies to unite, grow, influence and stabilize the continent.\r\n\r\nWhat we have now is due to the fact that politicians are only interested in popularity through votes and the bureaucrats with pensions and expense accounts. There was never a credible long term view with key success factors built in to measure actual success.\r\n\r\nThe EUROPEAN UNION has failed to unite governments never mind the EU populations on many levels at different times, such as:\r\n<ul>\r\n 	<li>Defence and Security</li>\r\n 	<li>The Social Chapter</li>\r\n 	<li>Banking</li>\r\n 	<li>Taxation</li>\r\n 	<li>Debt Management and Controls</li>\r\n 	<li>Fiscal Planning and Constraints</li>\r\n 	<li>Immigration and Border Controls</li>\r\n 	<li>Freedom of Movement</li>\r\n 	<li>Food Planning (Agriculture)</li>\r\n 	<li>Health minimums</li>\r\n 	<li>Education minimums</li>\r\n</ul>\r\nThe list is endless.\r\n\r\nI know that I am always very critical of the EU and its workings. But it has just not evolved. It never matured or aged in such a way to grow, unite and bond members. It thrives on a fragmented approach to most topics. The problem that creates this is narrow minded politicians with a short time frame in office and poorly managed and focused centralized operation in Brussels, which in my opinion is self-serving rather than actually doing anything meaningful or long that they could be proud of.\r\n\r\nWithout doubt there are wins, but are they big wins? From my perspective, it’s just interference that is poorly managed or directed. The Apple case is one in question. An upstart from Brussels is in interfering in a sovereign states tax affairs.\r\n\r\nIt is somewhat similar to the Quebec governments language police who cautioned an Italian restaurant for the numbers of times it wrote PASTA on its menu.\r\n\r\nFor God\'s sake people are paid good money for these jobs that could save lives. PASTAGATE as it is now known showed how protectionist, out of touch, mis-managed Quebec as a province is. \"People can die waiting to see a Doctor, but we will not accept PASTA written on an Italian restaurants menu. Absolutely bloody ridiculous and it cannot be defended. What is the French word for PASTA?\r\n\r\nBrussels is on the same path maybe not quite so stupid in delivery as Quebec, but they are on the same road.\r\n\r\nBasically, I always return to two basic issues.\r\n<ul>\r\n 	<li>19 countries in the EUROZONE basically using the same cheque book does not work.</li>\r\n 	<li>A mix of all the different cultures has created mistrust throughout the ages and makes harmony, unification on a common purpose practically impossible</li>\r\n</ul>\r\nPlus:\r\n\r\nPoor countries cannot afford what the rich counties can afford. Some countries benefit from natural resources others don\'t, it is just not a level playing field and one size does not fit all.\r\n\r\nTrading the single currency over the coming year should be quite a ride. I am bearish and see a test of parity possibly on the cards. It will not be a straight move lower as some have predicted. We should in my opinion push and pull our way lower.\r\n\r\nWe have major headwinds in the EUROPEAN UNION: -\r\n<ul>\r\n 	<li>Elections in FRANCE</li>\r\n 	<li>Elections in GERMANY</li>\r\n 	<li>Elections in HOLLAND</li>\r\n 	<li>The UK BREXIT to deal with “cleanly”</li>\r\n 	<li>ITALIAN Bank debt to sort out and fix</li>\r\n 	<li>GREECE bailout Act IV</li>\r\n</ul>\r\nThere is so much uncertainty in that list above, the single currency should move lower.\r\n\r\nWith a US FED raising rates we have divergent policies between the hawkish FED and the dovish ECB. Mario Draghi simply cannot afford to stop supporting the single currency given the uncertainties ahead and Janet Yellen has now indicated in the clearest language possible that the FED is embarking on a rate rising monetary policy program.\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: #234 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> March 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'EUROZONE – NOT AN EXPERIMENT JUST A F**K UP', '', 'inherit', 'closed', 'closed', '', '9252-revision-v1', '', '', '2017-03-05 03:35:22', '2017-03-05 08:35:22', '', 9252, 'https://weeklyfxdrivethru.com/9252-revision-v1/', 0, 'revision', '', 0),
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(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);
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(9278, 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', '', 'inherit', 'closed', 'closed', '', '9277-revision-v1', '', '', '2017-03-11 06:33:24', '2017-03-11 11:33:24', '', 9277, 'https://weeklyfxdrivethru.com/9277-revision-v1/', 0, 'revision', '', 0),
(9279, 1, '2017-03-11 07:28:25', '2017-03-11 12:28:25', '&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 a bit, well actually it’s back just a little…\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><strong> </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 20th March as 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.: -\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></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\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&nbsp;\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>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong><strong> </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<strong>      4.  PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:\r\n\r\n</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<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: #235 FREE NEWSLETTER\r\nDATE: 12<sup>th</sup> March 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'EUROZONE:  IT\'S A GAME OF SNAKES & LADDERS', '', 'publish', 'open', 'closed', '', 'eurozone-game-snakes-ladders', '', '', '2017-03-11 07:28:25', '2017-03-11 12:28:25', '', 0, 'https://weeklyfxdrivethru.com/?p=9279', 0, 'post', '', 0);
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(9280, 1, '2017-03-11 07:28:25', '2017-03-11 12:28:25', '&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 a bit, well actually it’s back just a little…\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><strong> </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 20th March as 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.: -\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></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\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&nbsp;\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>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong><strong> </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<strong>      4.  PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:\r\n\r\n</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<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: #235 FREE NEWSLETTER\r\nDATE: 12<sup>th</sup> March 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'EUROZONE:  IT\'S A GAME OF SNAKES & LADDERS', '', 'inherit', 'closed', 'closed', '', '9279-revision-v1', '', '', '2017-03-11 07:28:25', '2017-03-11 12:28:25', '', 9279, 'https://weeklyfxdrivethru.com/9279-revision-v1/', 0, 'revision', '', 0),
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(9311, 1, '2017-03-25 09:23:18', '2017-03-25 14:23:18', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nEasy things first.\r\n\r\nI am back from house hunting on the east coast of Canada and, I am pleased to say that my wife and I have found a new home just outside of Halifax, Nova Scotia. We are delighted with the house and we are both really excited about the impending move.\r\n\r\nOn the negative side. If you follow me on twitter, if you are a PREMIUM SERVICE subscriber or a regular reader of this blog, you would be aware that for months I have been plagued by a series of software calamities, initially brought about by upgrading to ios sierra. These issues were exacerbated by a virus on my main Mac desktop. Matters came to a head last Monday. I could not get sound on the webinar broadcast for the WEEKLY FX DRIVE THRU – LIVE. Talk about stress. I thought that my recent trading was stressful enough to manage but eventually I found out that the recent addition of protection via McAfee was not such a great idea after all as it was blocking me. There were numerous network issues that McAfee did not like, my 5 remote printers to name 5 things and, I was prepared to live with this, but blocking my headset!!… for God’s sake give me a break.\r\n\r\nMcAfee has been uninstalled, it has ceased to be, it has moved on, it is no more and it never will be again as far as I am concerned.\r\n\r\nI really apologize to those of you who were waiting patiently for me to roll into action on the Webinar last Monday. Hopefully next Monday the 27<sup>th</sup> March, all will be back to normal. Being away for a week operating on my MacBook Air, I was really looking forward to the show after having a good old look around the charts.\r\n\r\nLeading on from the pleasantries…\r\n\r\nBollocks.\r\n\r\nWhat a pig of a week I have had; you can put lipstick on it but it’s still a fecking pig.\r\n\r\nAs I have stated in previous blogs my aim was to clear out the dross, drain the swamp… so to speak of trades I no longer wanted. I have done that but added more trades that are up in my face. Longer-term, I am comfortable with them and I am adding more smaller positions at lows and highs (buying dips and selling rips), but as you know it always looks darkest when buying with a RED candle coming towards you or selling with a big GREEN candle coming towards your entry level. Such is life.\r\n\r\nI am making a few pips this month, which is great, however, on the negative side I am sitting in CORE POSITIONS all under water. I am holding small positions but with quite wide stops, on the positive side not much $$$ at risk thankfully.\r\n\r\nNext time you see a junk mail telling you trading forex is a piece of cake and you are a dipstick if you cannot make money out of this market, respond telling the sender to feck off. I am tired of reading about all these fantastic traders who report entries at the top and exits close to or at the bottom, or vice versa. Trading is basically you versus the world, and do not let anyone influence you to think any other way. I will make my 10,000 pips of net profit this year but it will not be easy. To believe the FX market is easy is naïve. Remember, the big banks are pulling back their operations because even with their wealth and monetary power to influence they still screw it up.\r\n\r\nIn addition, whilst I am on my first soapbox of this blog. If these robots that keep appearing mainly in my Gmail inbox are so damn good why haven’t the banks bought them up so the retail trader can’t have them. It’s dead simple… they do not work.\r\n\r\nStill on the soapbox…\r\n\r\nI just don’t get it. At times, I think that I am losing my mind. I read, examine and force myself to listen to chart only technical trader’s ideas and reasons behind trades. If you are a 15-minute trader, which I am not, I can see it, but in the time it takes me to make a mug of coffee, these traders have more often than not completed two trades. So much time is given to the 15-minute trader, maybe it’s the way to go moving forward.\r\n\r\nWhen I first started trading currencies I used to use a combination of a 5 ,15 and 45-minute chart to enter a trade style called a pullback strategy. It works. But it does not work in this market, or maybe it’s just me, I can’t get it to work. It’s a damn good strategy and effective. In 2014, 2015 and last year, I used this strategy quite a bit and for my shorter-term trades and it was effective. The odd shorter term trade would develop into a swing trade from the original set up. I have said to PREMIUM SERVICE subscribers who have been starved of my shorter-term set ups of FLASH and RADAR trades this year that I hoped after the FOMC interest rate decision some state of market normality and acceptance would step back in. Like Diana Ross… ”I’m Still Waiting”.\r\n\r\nNot getting too anal, but I have checked the parameters and tried it out on a demo account. I must be careful, I have two or three big hitter’s subscribers who despite the warnings and risks will load up on the short-term trades to trade with momentum. I know it sounds absolutely crazy, but over 75% of the time the reversals back in the trends are just not happening. Therefore, one of my keys of success with shorter-term trades was my identification of high probability trade set ups. At 75% against me, I will not risk my money nor the money of my subscribers until this ratio is at least 75% in my favour and not the markets.\r\n\r\nSo, these short-term technical traders are they just gambling? Could be, because you never hear or see them if a trade goes the wrong way.\r\n\r\nTrading, especially FX trading is all about RISK MANAGEMENT and POSITION SIZING. If I have to sit and wait for my trade so be it. You need the patience of a saint trading FX.\r\n\r\nBack to the markets…\r\n\r\nIt would appear that all is just fine and dandy over in the UK and the EUROPEAN UNION and EUROZONE.\r\n\r\nI get it. The UK printed a beat on CPi. Holy Mother of God… if you devalue your currency over 15% what the hell do you expect. The UK hasn’t even triggered A50 yet and we are now hearing of interest rate increases. I am re-visiting my thoughts on the BREXIT, A50 and all things UK in the soapbox section 5 later.\r\n\r\nHallelujah, the EUROZONE and EUROPEAN UNION is safe… Geert Wilders did not win the Dutch election he was crushed. My arse he was crushed. The incumbent Prime Minister Rutte lost 25% of the parliamentary seats he had prior to the election and Wilders gained 33% more seats at the election. Granted the racist is not in power, but the fecker wasn’t crushed and to claim that it was a clear and resounding victory for the Dutch process is pure Walt Disney. Holland is, was and as long as I am alive and not pushing up daisies, will always be a weak coalition run country.\r\n\r\nNext, we had the French Presidential debate when Macron did very well and was by all accounts hailed as the victor. The EUR/USD spiked 60-80 pips on this news. Pundits are now claiming 1.1000 to 1.1400. They say that this plus improving economic and inflation data from the EUROZONE is enough to push the single currency higher. FFS, what about BREXIT.\r\n\r\nBREXIT is not just potential bad news for the UK, it also has ramifications for the EU as well. Mind you the same flutes talking EUR/USD at 1.1400 are the same flutes talking parity next week should there be some bad EU news coming across the wires.\r\n\r\nYou must in my opinion, keep the FUNDAMENTALS in your head at all times. They will win out over the “technicals” on every occasion. Listen and note what the Central Bank Governors and Presidents say. Obtain copies of their speeches highlight the salient points. Over the longer-term this will stand you in good stead over the numpties on TV or your twitter feed. Punters can get it right every now and then but it’s gambling. Most of them have “no skin” in the game so to speak.\r\n\r\nMoving on…\r\n\r\nHow could I not include a paragraph about “THE DONALD!”\r\n\r\nSo, it would appear that the TRUMP TRADE is in doubt. “THE DONALD” is struggling with the new job. It’s probably much bigger than he thought. His dictatorship approach that he had in the TRUMP BUSINESS just will not cut it in Washington.\r\n\r\nThe repeal of OBAMACARE being the case in point. What an absolute fiasco. His “enough is enough” take it or leave it style, which frankly is a good one to adopt at times, otherwise you can sit there negotiating for days on end going around in circles day after day. did not work. Career politicians are strange beasts, especially if they are in safe seats. They could not give a rat’s ass about doing the right thing, whether for constituents or party. It is all about self-preservation. The only threat to their existence is expulsion from the party and given the US desire to take everything to a courtroom the process is long drawn out and appealed over and over.\r\n\r\nDonald Trump’s draining of the swamp needs to be done across his own party as much as the Democrats. Washington is dysfunctional, not managed and politicians are 100% self-serving.\r\n\r\n“THE DONALD” has probably taken on much more than he can chew. If he thought that threats would work in Washington… think again. This is politics not business.\r\n\r\nStill More…\r\n\r\nAfter last week’s fiasco…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#8 this Monday 27<sup>th</sup> March 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 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.: -\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></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-26032017.png\"><img class=\"aligncenter size-large wp-image-9296\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-26032017-1024x765.png\" alt=\"\" width=\"1024\" height=\"765\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nFrom my perspective, not a very busy week on economic data: -\r\n\r\nThis worries me as it will be equities, geopolitical events, BREXIT, the EUROZONE and “THE DONALD” that will drive markets.\r\n\r\nDo not forget March 29<sup>th</sup> BREXIT TRIGGER DAY for A50.\r\n<ol>\r\n 	<li>USD: Consumer Confidence numbers are always an indicator that I take seriously. If people are spending or feel confident to spend money this is a plus for an economy. If they are not spending the opposite applies. Given everything that is going on in the USA, I strongly suspect that this release will take on greater importance than usual this Tuesday.</li>\r\n 	<li>GBP: Current Account Data is backwards looking by about 90 days. Right now, it is an indicator that interests me because of BREXIT. It is all about currency demand and flows.<u> </u></li>\r\n</ol>\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/T-CHART-26032017.png\"><img class=\"aligncenter size-large wp-image-9297\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/T-CHART-26032017-1024x853.png\" alt=\"\" width=\"1024\" height=\"853\" /></a>\r\n\r\n&nbsp;\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-26032017.png\"><img class=\"aligncenter size-large wp-image-9302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-26032017-1024x454.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/2017/03/GBPUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9303\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-26032017-1024x454.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/2017/03/AUDUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-26032017-1024x454.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/2017/03/NZDUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9304\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-26032017-1024x454.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/2017/03/USDCAD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9306\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-26032017-1024x454.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/2017/03/USDCHF-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9307\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-26032017-1024x454.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&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/UDSDJPY-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9305\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/UDSDJPY-D-26032017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></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 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 –  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\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\n&nbsp;\r\n\r\n&nbsp;\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 know at the moment that I am guilty of over thinking this market. I am getting myself wrapped up in too much detail. My caution is based around the fact that earlier this year I took a couple of big hits on GBP/USD shorts only to see within 48 hours those losses washed away as the Fundamentals kicked in once again. These moves are the moves I hate the most with trading. Whilst I accept losses are part and parcel of trading, I still hate to take losses when my views are still not proven incorrect.\r\n\r\nI have about 9 charts with set ups drawn on them, but to be frank, even if I had posted them they would still just be sitting as LIMIT ORDERS. We are still looking at the bigger picture in ranges and we are chopping about in these ranges. I admit we have seen some good spikes and falls but in real terms we are still not pressing the extremes.\r\n\r\nI talk a great deal about having patience in trading, and, like many of you that I have spoken with on email or face to face on SKYPE, this is a challenge.\r\n\r\nI suppose I am lucky in the sense that I am very much a long-haul trader. If I have to sit and wait in trades that are chopping about for a few weeks, I am prepared to do this. From my perspective, there is NO point adding trades when the market is range bound, as all I am doing is adding in RISK.\r\n\r\nI am taking pips out of the market as they become available but at the moment that is a slow process.\r\n\r\nAs I mentioned to a couple of you last week, the frustrations at times can be so difficult that you feel you should just close down all the open trades and start again. When I first started trading, I used to do this from time to time. Now, I wait and when my RISK TOLERANCE levels contained within my TRADE PLAN are approaching I receive an alert and then it becomes crunch time, when there are only 3 decisions available: -\r\n<ol>\r\n 	<li>Extend the stop.</li>\r\n 	<li>Extend the stop and reduce the position size.</li>\r\n 	<li>Let the trade stop out.</li>\r\n</ol>\r\nI need to see a break to confirm which trade set ups to follow through with and verify entry / exit levels. Until that happens I have to wait.\r\n\r\n&nbsp;\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nAs a few of you have commented, I am still very tentative with placing trades. I have still not started on FLASH or RADAR trades again.\r\n\r\nMedium-term, I feel comfortable with holding USD longs, but at the moment it’s not comfortable. There will come a point when I think that I will have to draw a line in the sand with EUR/USD and GBP/USD shorts.\r\n\r\nAs we all know one piece of really bad news in the EUROZONE or a BREXIT related piece of news can have a 300 pip move lower in a day!\r\n\r\nFundamentally, it makes sense for me to remain bearish given my thoughts and frankly pip wise it’s frustrating but $$$ wise I am not even 33% engaged in total for each core position so I am NOT risking much in $$$. Being cautious and managing overall RISK really pays off at times such as these.\r\n\r\nThe killer question is when you have a sea of RED on your net trade positions is: “Would you be prepared to add more positions on a dip or rip?” and I would be for a while longer, so I am OK to sit in these traders. For you guys, please examine your RISK and adjust POSITION SIZES if necessary.\r\n\r\nI have 15+ LIVE TRADES at the moment, to add more given the “chop” that we are experiencing mostly with the USD majors, is in my opinion adding unnecessary RISK and it gives me less confidence trading the cross-rates. Hopefully these conditions will change moving forward.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>EUR/USD and USD/CHF: - Core positions are still being established and I am looking to add even more trades. For now, although it is difficult, I can still see the reasons to buy dips and sell rips.\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 am looking to re-establish this trade at higher levels.</li>\r\n 	<li>GBP/USD: - Nothing has really changed in my opinion.\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\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: - 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.\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 and GERMAN ELECTIONS, A GREECE DEBT CRISIS and a looming ITALIAN BANK CRISIS. Therefore, I believe in the longer-term the EUR/GBP will fall much lower.</li>\r\n</ol>\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIVE-TRADES-26032017.png\"><img class=\"aligncenter size-large wp-image-9299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIVE-TRADES-26032017-811x1024.png\" alt=\"\" width=\"811\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-26032017.png\"><img class=\"aligncenter size-large wp-image-9298\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-26032017-762x1024.png\" alt=\"\" width=\"762\" 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>LET THE FUN AND GAMES BEGIN (PART ONE:</strong>\r\n\r\nSo, as far as I can see article 50 declaring the UK exit process begins on March 29th, 2017 when it is said that Theresa May the UK Prime Minister will actually trigger the mechanism for the BREXIT process to begin.\r\n\r\nSince the referendum vote in June last year when the UK electorate voted to exit the EUROPEAN UNION, sterling versus the USD has devalued 15%, Mark Carney, Governor of the Bank of England, stepped up to the plate immediately to support the financial markets with increased QE (Quantitative Easing) and an interest rate cut.\r\n\r\nSince then it has been one long news release of headlines such as; cable to parity, cable BREXIT declines are now baked in, Carney is going to raise rates as we now have inflation in the UK, it’s going to be a hard BREXIT, it’s going to be a soft BREXIT, we will create a tax free zone in the heart of London, we are not going to pay a bill of €64 million to exit the EUROPEAN UNION, no trigger of A50 no discussion on exit terms, the UK will get no favours on exiting the EUROPEAN UNION… on and on it went week after week.\r\n\r\nLet me just remind everyone… if you are reading this blog on the day it was posted, Article 50 has STILL NOT been invoked.\r\n\r\nHowever, here we are under a week away and the gamblers are out regarding what the GBP will do on the announcement?\r\n\r\nI do not know what the cable will do when the article will trigger. I suspect it will drop initially on the news and then it will bounce back, but I do feel that from the trigger date until the exit from the EU (in 2 years or more), the cable along with the EUR/GBP and to some extent the EUR/USD, could possibly be very much a news driven currency.\r\n\r\nI write this because we are in unchartered territory. I have written this before but let me remind you.\r\n\r\nThe only country that has previously exited the EUROPEAN UNION was GREENLAND. It took GREENLAND two years to do it. The UK has the same ambitious target in mind. Frankly given the complexities of the UK position in the EU vis-à-vis GREENLAND, in my opinion two years may be rather ambitious.\r\n\r\nIn addition, the BREXIT negotiations will not be friendly because the lead time from the actual referendum vote until the A50 trigger will be invoked will be about 9 months. In this period, the negotiating positions have been aired in public and it’s NOT cordial, far from it.\r\n\r\nThe UK want trade but they do not want freedom of movement at any price, allegedly up to a no deal position.\r\n\r\nThe EUROPEAN UNION cannot make the process easy, nor can they show any benefits of leaving the EU because this would feed the populist movements and a contagion effect would probably be in play.\r\n\r\nWe could a Mexican standoff on day one. Do NOT rule it out.\r\n\r\nThere will be mind games, silly games and possibly party games including musical chairs before these negotiations are completed.\r\n\r\nAs I understand it, the pathway forward is going to be something like this: -\r\n<ul>\r\n 	<li>A50 triggered by UK on March 29th, 2017.</li>\r\n 	<li>On April 29th, 2017, the remaining 27 EU members meet to discuss the UK request to withdraw.</li>\r\n 	<li>There is then a period of two years set aside when negotiations begin. A draft of the deal agreed between both parties is put before the 27 leaders (if this is still the number in two years!!).</li>\r\n 	<li>20 of the current 27 member countries totaling at least 65% of the EU population needs to approve the exit deal.</li>\r\n 	<li>It is then ratified by the European Parliament.</li>\r\n 	<li>If at the end of two years of negotiations nothing is finalized they can be extended only if all member countries agree.</li>\r\n 	<li>If no agreement between the two sides is negotiated. The UK leaves the EUROPEAN UNION.</li>\r\n 	<li>The UK Parliament repeals the 1972 European Communities Act.</li>\r\n 	<li>Should the UK want back into the EU it must go through the same procedures that any new entrant applies with.</li>\r\n</ul>\r\nEasy peasy… if only.\r\n\r\nThis will not be an easy process for the UK.  As the major banking clearing centre for the EU and EUROZONE, London stands to lose a great deal of its standing around the globe as a financial area of excellence. It will still be an important financial centre but not with the same gloss. This is a fact that cannot be cast aside glibly.\r\n\r\nThe world’s major banks sit in the City of London. If these banks want to continue to have a major presence in Europe, they will have to relocate. Plans are afoot already and I strongly suspect that relocation announcements will start dropping into the media soon as the invocation of A50 occurs. In my opinion, this reality will hit cable. No matter how much you hear BREXIT A50 trigger prices levels are baked in, this is now reality, it is much different in my opinion.\r\n\r\nNext you will hear of UK job losses for those staff that are not re-located. Do you really think this is good news? Estimates of job losses being floated about are circa. 100,000.\r\n\r\nThen we will have poor / weak capital flows. Many of the multi-national Banks will just have a bureau style approach to the UK, the major thrust of operations will be either in Dublin, Frankfurt or wherever, the movement of funds in and out of the UK decreases. This is big news for currencies and the UK economy etc.\r\n\r\nIf this bad news strikes home hard in the UK. The calls for a stronger negotiation stance will grow. Intransigence will then grow into the negotiating team. Marry that up with the expected no nonsense approach from the EUROPEAN UNION negotiators who do not want a contagion on their hands and we have games…. LET THE FUN AND GAMES BEGIN…. (PART ONE) …\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: #132 PREMIUM SERVICE\r\nDATE: 26th March 2017.\r\n\r\n&nbsp;', 'LET THE GAMES BEGIN (PART ONE):', '', 'publish', 'open', 'closed', '', 'let-games-begin-part-one', '', '', '2017-03-25 09:23:18', '2017-03-25 14:23:18', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9311', 0, 'member_posts', '', 0);
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(9312, 1, '2017-03-25 09:23:18', '2017-03-25 14:23:18', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nEasy things first.\r\n\r\nI am back from house hunting on the east coast of Canada and, I am pleased to say that my wife and I have found a new home just outside of Halifax, Nova Scotia. We are delighted with the house and we are both really excited about the impending move.\r\n\r\nOn the negative side. If you follow me on twitter, if you are a PREMIUM SERVICE subscriber or a regular reader of this blog, you would be aware that for months I have been plagued by a series of software calamities, initially brought about by upgrading to ios sierra. These issues were exacerbated by a virus on my main Mac desktop. Matters came to a head last Monday. I could not get sound on the webinar broadcast for the WEEKLY FX DRIVE THRU – LIVE. Talk about stress. I thought that my recent trading was stressful enough to manage but eventually I found out that the recent addition of protection via McAfee was not such a great idea after all as it was blocking me. There were numerous network issues that McAfee did not like, my 5 remote printers to name 5 things and, I was prepared to live with this, but blocking my headset!!… for God’s sake give me a break.\r\n\r\nMcAfee has been uninstalled, it has ceased to be, it has moved on, it is no more and it never will be again as far as I am concerned.\r\n\r\nI really apologize to those of you who were waiting patiently for me to roll into action on the Webinar last Monday. Hopefully next Monday the 27<sup>th</sup> March, all will be back to normal. Being away for a week operating on my MacBook Air, I was really looking forward to the show after having a good old look around the charts.\r\n\r\nLeading on from the pleasantries…\r\n\r\nBollocks.\r\n\r\nWhat a pig of a week I have had; you can put lipstick on it but it’s still a fecking pig.\r\n\r\nAs I have stated in previous blogs my aim was to clear out the dross, drain the swamp… so to speak of trades I no longer wanted. I have done that but added more trades that are up in my face. Longer-term, I am comfortable with them and I am adding more smaller positions at lows and highs (buying dips and selling rips), but as you know it always looks darkest when buying with a RED candle coming towards you or selling with a big GREEN candle coming towards your entry level. Such is life.\r\n\r\nI am making a few pips this month, which is great, however, on the negative side I am sitting in CORE POSITIONS all under water. I am holding small positions but with quite wide stops, on the positive side not much $$$ at risk thankfully.\r\n\r\nNext time you see a junk mail telling you trading forex is a piece of cake and you are a dipstick if you cannot make money out of this market, respond telling the sender to feck off. I am tired of reading about all these fantastic traders who report entries at the top and exits close to or at the bottom, or vice versa. Trading is basically you versus the world, and do not let anyone influence you to think any other way. I will make my 10,000 pips of net profit this year but it will not be easy. To believe the FX market is easy is naïve. Remember, the big banks are pulling back their operations because even with their wealth and monetary power to influence they still screw it up.\r\n\r\nIn addition, whilst I am on my first soapbox of this blog. If these robots that keep appearing mainly in my Gmail inbox are so damn good why haven’t the banks bought them up so the retail trader can’t have them. It’s dead simple… they do not work.\r\n\r\nStill on the soapbox…\r\n\r\nI just don’t get it. At times, I think that I am losing my mind. I read, examine and force myself to listen to chart only technical trader’s ideas and reasons behind trades. If you are a 15-minute trader, which I am not, I can see it, but in the time it takes me to make a mug of coffee, these traders have more often than not completed two trades. So much time is given to the 15-minute trader, maybe it’s the way to go moving forward.\r\n\r\nWhen I first started trading currencies I used to use a combination of a 5 ,15 and 45-minute chart to enter a trade style called a pullback strategy. It works. But it does not work in this market, or maybe it’s just me, I can’t get it to work. It’s a damn good strategy and effective. In 2014, 2015 and last year, I used this strategy quite a bit and for my shorter-term trades and it was effective. The odd shorter term trade would develop into a swing trade from the original set up. I have said to PREMIUM SERVICE subscribers who have been starved of my shorter-term set ups of FLASH and RADAR trades this year that I hoped after the FOMC interest rate decision some state of market normality and acceptance would step back in. Like Diana Ross… ”I’m Still Waiting”.\r\n\r\nNot getting too anal, but I have checked the parameters and tried it out on a demo account. I must be careful, I have two or three big hitter’s subscribers who despite the warnings and risks will load up on the short-term trades to trade with momentum. I know it sounds absolutely crazy, but over 75% of the time the reversals back in the trends are just not happening. Therefore, one of my keys of success with shorter-term trades was my identification of high probability trade set ups. At 75% against me, I will not risk my money nor the money of my subscribers until this ratio is at least 75% in my favour and not the markets.\r\n\r\nSo, these short-term technical traders are they just gambling? Could be, because you never hear or see them if a trade goes the wrong way.\r\n\r\nTrading, especially FX trading is all about RISK MANAGEMENT and POSITION SIZING. If I have to sit and wait for my trade so be it. You need the patience of a saint trading FX.\r\n\r\nBack to the markets…\r\n\r\nIt would appear that all is just fine and dandy over in the UK and the EUROPEAN UNION and EUROZONE.\r\n\r\nI get it. The UK printed a beat on CPi. Holy Mother of God… if you devalue your currency over 15% what the hell do you expect. The UK hasn’t even triggered A50 yet and we are now hearing of interest rate increases. I am re-visiting my thoughts on the BREXIT, A50 and all things UK in the soapbox section 5 later.\r\n\r\nHallelujah, the EUROZONE and EUROPEAN UNION is safe… Geert Wilders did not win the Dutch election he was crushed. My arse he was crushed. The incumbent Prime Minister Rutte lost 25% of the parliamentary seats he had prior to the election and Wilders gained 33% more seats at the election. Granted the racist is not in power, but the fecker wasn’t crushed and to claim that it was a clear and resounding victory for the Dutch process is pure Walt Disney. Holland is, was and as long as I am alive and not pushing up daisies, will always be a weak coalition run country.\r\n\r\nNext, we had the French Presidential debate when Macron did very well and was by all accounts hailed as the victor. The EUR/USD spiked 60-80 pips on this news. Pundits are now claiming 1.1000 to 1.1400. They say that this plus improving economic and inflation data from the EUROZONE is enough to push the single currency higher. FFS, what about BREXIT.\r\n\r\nBREXIT is not just potential bad news for the UK, it also has ramifications for the EU as well. Mind you the same flutes talking EUR/USD at 1.1400 are the same flutes talking parity next week should there be some bad EU news coming across the wires.\r\n\r\nYou must in my opinion, keep the FUNDAMENTALS in your head at all times. They will win out over the “technicals” on every occasion. Listen and note what the Central Bank Governors and Presidents say. Obtain copies of their speeches highlight the salient points. Over the longer-term this will stand you in good stead over the numpties on TV or your twitter feed. Punters can get it right every now and then but it’s gambling. Most of them have “no skin” in the game so to speak.\r\n\r\nMoving on…\r\n\r\nHow could I not include a paragraph about “THE DONALD!”\r\n\r\nSo, it would appear that the TRUMP TRADE is in doubt. “THE DONALD” is struggling with the new job. It’s probably much bigger than he thought. His dictatorship approach that he had in the TRUMP BUSINESS just will not cut it in Washington.\r\n\r\nThe repeal of OBAMACARE being the case in point. What an absolute fiasco. His “enough is enough” take it or leave it style, which frankly is a good one to adopt at times, otherwise you can sit there negotiating for days on end going around in circles day after day. did not work. Career politicians are strange beasts, especially if they are in safe seats. They could not give a rat’s ass about doing the right thing, whether for constituents or party. It is all about self-preservation. The only threat to their existence is expulsion from the party and given the US desire to take everything to a courtroom the process is long drawn out and appealed over and over.\r\n\r\nDonald Trump’s draining of the swamp needs to be done across his own party as much as the Democrats. Washington is dysfunctional, not managed and politicians are 100% self-serving.\r\n\r\n“THE DONALD” has probably taken on much more than he can chew. If he thought that threats would work in Washington… think again. This is politics not business.\r\n\r\nStill More…\r\n\r\nAfter last week’s fiasco…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#8 this Monday 27<sup>th</sup> March 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 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.: -\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></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-26032017.png\"><img class=\"aligncenter size-large wp-image-9296\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-26032017-1024x765.png\" alt=\"\" width=\"1024\" height=\"765\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nFrom my perspective, not a very busy week on economic data: -\r\n\r\nThis worries me as it will be equities, geopolitical events, BREXIT, the EUROZONE and “THE DONALD” that will drive markets.\r\n\r\nDo not forget March 29<sup>th</sup> BREXIT TRIGGER DAY for A50.\r\n<ol>\r\n 	<li>USD: Consumer Confidence numbers are always an indicator that I take seriously. If people are spending or feel confident to spend money this is a plus for an economy. If they are not spending the opposite applies. Given everything that is going on in the USA, I strongly suspect that this release will take on greater importance than usual this Tuesday.</li>\r\n 	<li>GBP: Current Account Data is backwards looking by about 90 days. Right now, it is an indicator that interests me because of BREXIT. It is all about currency demand and flows.<u> </u></li>\r\n</ol>\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/T-CHART-26032017.png\"><img class=\"aligncenter size-large wp-image-9297\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/T-CHART-26032017-1024x853.png\" alt=\"\" width=\"1024\" height=\"853\" /></a>\r\n\r\n&nbsp;\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-26032017.png\"><img class=\"aligncenter size-large wp-image-9302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-26032017-1024x454.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/2017/03/GBPUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9303\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-26032017-1024x454.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/2017/03/AUDUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-26032017-1024x454.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/2017/03/NZDUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9304\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-26032017-1024x454.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/2017/03/USDCAD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9306\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-26032017-1024x454.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/2017/03/USDCHF-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9307\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-26032017-1024x454.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&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/UDSDJPY-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9305\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/UDSDJPY-D-26032017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></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 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 –  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\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\n&nbsp;\r\n\r\n&nbsp;\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 know at the moment that I am guilty of over thinking this market. I am getting myself wrapped up in too much detail. My caution is based around the fact that earlier this year I took a couple of big hits on GBP/USD shorts only to see within 48 hours those losses washed away as the Fundamentals kicked in once again. These moves are the moves I hate the most with trading. Whilst I accept losses are part and parcel of trading, I still hate to take losses when my views are still not proven incorrect.\r\n\r\nI have about 9 charts with set ups drawn on them, but to be frank, even if I had posted them they would still just be sitting as LIMIT ORDERS. We are still looking at the bigger picture in ranges and we are chopping about in these ranges. I admit we have seen some good spikes and falls but in real terms we are still not pressing the extremes.\r\n\r\nI talk a great deal about having patience in trading, and, like many of you that I have spoken with on email or face to face on SKYPE, this is a challenge.\r\n\r\nI suppose I am lucky in the sense that I am very much a long-haul trader. If I have to sit and wait in trades that are chopping about for a few weeks, I am prepared to do this. From my perspective, there is NO point adding trades when the market is range bound, as all I am doing is adding in RISK.\r\n\r\nI am taking pips out of the market as they become available but at the moment that is a slow process.\r\n\r\nAs I mentioned to a couple of you last week, the frustrations at times can be so difficult that you feel you should just close down all the open trades and start again. When I first started trading, I used to do this from time to time. Now, I wait and when my RISK TOLERANCE levels contained within my TRADE PLAN are approaching I receive an alert and then it becomes crunch time, when there are only 3 decisions available: -\r\n<ol>\r\n 	<li>Extend the stop.</li>\r\n 	<li>Extend the stop and reduce the position size.</li>\r\n 	<li>Let the trade stop out.</li>\r\n</ol>\r\nI need to see a break to confirm which trade set ups to follow through with and verify entry / exit levels. Until that happens I have to wait.\r\n\r\n&nbsp;\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nAs a few of you have commented, I am still very tentative with placing trades. I have still not started on FLASH or RADAR trades again.\r\n\r\nMedium-term, I feel comfortable with holding USD longs, but at the moment it’s not comfortable. There will come a point when I think that I will have to draw a line in the sand with EUR/USD and GBP/USD shorts.\r\n\r\nAs we all know one piece of really bad news in the EUROZONE or a BREXIT related piece of news can have a 300 pip move lower in a day!\r\n\r\nFundamentally, it makes sense for me to remain bearish given my thoughts and frankly pip wise it’s frustrating but $$$ wise I am not even 33% engaged in total for each core position so I am NOT risking much in $$$. Being cautious and managing overall RISK really pays off at times such as these.\r\n\r\nThe killer question is when you have a sea of RED on your net trade positions is: “Would you be prepared to add more positions on a dip or rip?” and I would be for a while longer, so I am OK to sit in these traders. For you guys, please examine your RISK and adjust POSITION SIZES if necessary.\r\n\r\nI have 15+ LIVE TRADES at the moment, to add more given the “chop” that we are experiencing mostly with the USD majors, is in my opinion adding unnecessary RISK and it gives me less confidence trading the cross-rates. Hopefully these conditions will change moving forward.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>EUR/USD and USD/CHF: - Core positions are still being established and I am looking to add even more trades. For now, although it is difficult, I can still see the reasons to buy dips and sell rips.\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 am looking to re-establish this trade at higher levels.</li>\r\n 	<li>GBP/USD: - Nothing has really changed in my opinion.\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\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: - 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.\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 and GERMAN ELECTIONS, A GREECE DEBT CRISIS and a looming ITALIAN BANK CRISIS. Therefore, I believe in the longer-term the EUR/GBP will fall much lower.</li>\r\n</ol>\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIVE-TRADES-26032017.png\"><img class=\"aligncenter size-large wp-image-9299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIVE-TRADES-26032017-811x1024.png\" alt=\"\" width=\"811\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-26032017.png\"><img class=\"aligncenter size-large wp-image-9298\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/LIMIT-ORDERS-26032017-762x1024.png\" alt=\"\" width=\"762\" 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>LET THE FUN AND GAMES BEGIN (PART ONE:</strong>\r\n\r\nSo, as far as I can see article 50 declaring the UK exit process begins on March 29th, 2017 when it is said that Theresa May the UK Prime Minister will actually trigger the mechanism for the BREXIT process to begin.\r\n\r\nSince the referendum vote in June last year when the UK electorate voted to exit the EUROPEAN UNION, sterling versus the USD has devalued 15%, Mark Carney, Governor of the Bank of England, stepped up to the plate immediately to support the financial markets with increased QE (Quantitative Easing) and an interest rate cut.\r\n\r\nSince then it has been one long news release of headlines such as; cable to parity, cable BREXIT declines are now baked in, Carney is going to raise rates as we now have inflation in the UK, it’s going to be a hard BREXIT, it’s going to be a soft BREXIT, we will create a tax free zone in the heart of London, we are not going to pay a bill of €64 million to exit the EUROPEAN UNION, no trigger of A50 no discussion on exit terms, the UK will get no favours on exiting the EUROPEAN UNION… on and on it went week after week.\r\n\r\nLet me just remind everyone… if you are reading this blog on the day it was posted, Article 50 has STILL NOT been invoked.\r\n\r\nHowever, here we are under a week away and the gamblers are out regarding what the GBP will do on the announcement?\r\n\r\nI do not know what the cable will do when the article will trigger. I suspect it will drop initially on the news and then it will bounce back, but I do feel that from the trigger date until the exit from the EU (in 2 years or more), the cable along with the EUR/GBP and to some extent the EUR/USD, could possibly be very much a news driven currency.\r\n\r\nI write this because we are in unchartered territory. I have written this before but let me remind you.\r\n\r\nThe only country that has previously exited the EUROPEAN UNION was GREENLAND. It took GREENLAND two years to do it. The UK has the same ambitious target in mind. Frankly given the complexities of the UK position in the EU vis-à-vis GREENLAND, in my opinion two years may be rather ambitious.\r\n\r\nIn addition, the BREXIT negotiations will not be friendly because the lead time from the actual referendum vote until the A50 trigger will be invoked will be about 9 months. In this period, the negotiating positions have been aired in public and it’s NOT cordial, far from it.\r\n\r\nThe UK want trade but they do not want freedom of movement at any price, allegedly up to a no deal position.\r\n\r\nThe EUROPEAN UNION cannot make the process easy, nor can they show any benefits of leaving the EU because this would feed the populist movements and a contagion effect would probably be in play.\r\n\r\nWe could a Mexican standoff on day one. Do NOT rule it out.\r\n\r\nThere will be mind games, silly games and possibly party games including musical chairs before these negotiations are completed.\r\n\r\nAs I understand it, the pathway forward is going to be something like this: -\r\n<ul>\r\n 	<li>A50 triggered by UK on March 29th, 2017.</li>\r\n 	<li>On April 29th, 2017, the remaining 27 EU members meet to discuss the UK request to withdraw.</li>\r\n 	<li>There is then a period of two years set aside when negotiations begin. A draft of the deal agreed between both parties is put before the 27 leaders (if this is still the number in two years!!).</li>\r\n 	<li>20 of the current 27 member countries totaling at least 65% of the EU population needs to approve the exit deal.</li>\r\n 	<li>It is then ratified by the European Parliament.</li>\r\n 	<li>If at the end of two years of negotiations nothing is finalized they can be extended only if all member countries agree.</li>\r\n 	<li>If no agreement between the two sides is negotiated. The UK leaves the EUROPEAN UNION.</li>\r\n 	<li>The UK Parliament repeals the 1972 European Communities Act.</li>\r\n 	<li>Should the UK want back into the EU it must go through the same procedures that any new entrant applies with.</li>\r\n</ul>\r\nEasy peasy… if only.\r\n\r\nThis will not be an easy process for the UK.  As the major banking clearing centre for the EU and EUROZONE, London stands to lose a great deal of its standing around the globe as a financial area of excellence. It will still be an important financial centre but not with the same gloss. This is a fact that cannot be cast aside glibly.\r\n\r\nThe world’s major banks sit in the City of London. If these banks want to continue to have a major presence in Europe, they will have to relocate. Plans are afoot already and I strongly suspect that relocation announcements will start dropping into the media soon as the invocation of A50 occurs. In my opinion, this reality will hit cable. No matter how much you hear BREXIT A50 trigger prices levels are baked in, this is now reality, it is much different in my opinion.\r\n\r\nNext you will hear of UK job losses for those staff that are not re-located. Do you really think this is good news? Estimates of job losses being floated about are circa. 100,000.\r\n\r\nThen we will have poor / weak capital flows. Many of the multi-national Banks will just have a bureau style approach to the UK, the major thrust of operations will be either in Dublin, Frankfurt or wherever, the movement of funds in and out of the UK decreases. This is big news for currencies and the UK economy etc.\r\n\r\nIf this bad news strikes home hard in the UK. The calls for a stronger negotiation stance will grow. Intransigence will then grow into the negotiating team. Marry that up with the expected no nonsense approach from the EUROPEAN UNION negotiators who do not want a contagion on their hands and we have games…. LET THE FUN AND GAMES BEGIN…. (PART ONE) …\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: #132 PREMIUM SERVICE\r\nDATE: 26th March 2017.\r\n\r\n&nbsp;', 'LET THE GAMES BEGIN (PART ONE):', '', 'inherit', 'closed', 'closed', '', '9311-revision-v1', '', '', '2017-03-25 09:23:18', '2017-03-25 14:23:18', '', 9311, 'https://weeklyfxdrivethru.com/9311-revision-v1/', 0, 'revision', '', 0);
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(9313, 1, '2017-03-25 09:41:26', '2017-03-25 14:41:26', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nEasy things first.\r\n\r\nI am back from house hunting on the east coast of Canada and, I am pleased to say that my wife and I have found a new home just outside of Halifax, Nova Scotia. We are delighted with the house and we are both really excited about the impending move.\r\n\r\nOn the negative side. If you follow me on twitter, if you are a PREMIUM SERVICE subscriber or a regular reader of this blog, you would be aware that for months I have been plagued by a series of software calamities, initially brought about by upgrading to ios sierra. These issues were exacerbated by a virus on my main Mac desktop. Matters came to a head last Monday. I could not get sound on the webinar broadcast for the WEEKLY FX DRIVE THRU – LIVE. Talk about stress. I thought that my recent trading was stressful enough to manage but eventually I found out that the recent addition of protection via McAfee was not such a great idea after all as it was blocking me. There were numerous network issues that McAfee did not like, my 5 remote printers to name 5 things and, I was prepared to live with this, but blocking my headset!!… for God’s sake give me a break.\r\n\r\nMcAfee has been uninstalled, it has ceased to be, it has moved on, it is no more and it never will be again as far as I am concerned.\r\n\r\nI really apologize to those of you who were waiting patiently for me to roll into action on the Webinar last Monday. Hopefully next Monday the 27<sup>th</sup> March, all will be back to normal. Being away for a week operating on my MacBook Air, I was really looking forward to the show after having a good old look around the charts.\r\n\r\nLeading on from the pleasantries…\r\n\r\nBollocks.\r\n\r\nWhat a pig of a week I have had; you can put lipstick on it but it’s still a fecking pig.\r\n\r\nAs I have stated in previous blogs my aim was to clear out the dross, drain the swamp… so to speak of trades I no longer wanted. I have done that but added more trades that are up in my face. Longer-term, I am comfortable with them and I am adding more smaller positions at lows and highs (buying dips and selling rips), but as you know it always looks darkest when buying with a RED candle coming towards you or selling with a big GREEN candle coming towards your entry level. Such is life.\r\n\r\nI am making a few pips this month, which is great, however, on the negative side I am sitting in CORE POSITIONS all under water. I am holding small positions but with quite wide stops, on the positive side not much $$$ at risk thankfully.\r\n\r\nNext time you see a junk mail telling you trading forex is a piece of cake and you are a dipstick if you cannot make money out of this market, respond telling the sender to feck off. I am tired of reading about all these fantastic traders who report entries at the top and exits close to or at the bottom, or vice versa. Trading is basically you versus the world, and do not let anyone influence you to think any other way. I will make my 10,000 pips of net profit this year but it will not be easy. To believe the FX market is easy is naïve. Remember, the big banks are pulling back their operations because even with their wealth and monetary power to influence they still screw it up.\r\n\r\nIn addition, whilst I am on my first soapbox of this blog. If these robots that keep appearing mainly in my Gmail inbox are so damn good why haven’t the banks bought them up so the retail trader can’t have them. It’s dead simple… they do not work.\r\n\r\nStill on the soapbox…\r\n\r\nI just don’t get it. At times, I think that I am losing my mind. I read, examine and force myself to listen to chart only technical trader’s ideas and reasons behind trades. If you are a 15-minute trader, which I am not, I can see it, but in the time it takes me to make a mug of coffee, these traders have more often than not completed two trades. So much time is given to the 15-minute trader, maybe it’s the way to go moving forward.\r\n\r\nWhen I first started trading currencies I used to use a combination of a 5 ,15 and 45-minute chart to enter a trade style called a pullback strategy. It works. But it does not work in this market, or maybe it’s just me, I can’t get it to work. It’s a damn good strategy and effective. In 2014, 2015 and last year, I used this strategy quite a bit and for my shorter-term trades and it was effective. The odd shorter term trade would develop into a swing trade from the original set up. I have said to PREMIUM SERVICE subscribers who have been starved of my shorter-term set ups of FLASH and RADAR trades this year that I hoped after the FOMC interest rate decision some state of market normality and acceptance would step back in. Like Diana Ross… ”I’m Still Waiting”.\r\n\r\nNot getting too anal, but I have checked the parameters and tried it out on a demo account. I must be careful, I have two or three big hitter’s subscribers who despite the warnings and risks will load up on the short-term trades to trade with momentum. I know it sounds absolutely crazy, but over 75% of the time the reversals back in the trends are just not happening. Therefore, one of my keys of success with shorter-term trades was my identification of high probability trade set ups. At 75% against me, I will not risk my money nor the money of my subscribers until this ratio is at least 75% in my favour and not the markets.\r\n\r\nSo, these short-term technical traders are they just gambling? Could be, because you never hear or see them if a trade goes the wrong way.\r\n\r\nTrading, especially FX trading is all about RISK MANAGEMENT and POSITION SIZING. If I have to sit and wait for my trade so be it. You need the patience of a saint trading FX.\r\n\r\nBack to the markets…\r\n\r\nIt would appear that all is just fine and dandy over in the UK and the EUROPEAN UNION and EUROZONE.\r\n\r\nI get it. The UK printed a beat on CPi. Holy Mother of God… if you devalue your currency over 15% what the hell do you expect. The UK hasn’t even triggered A50 yet and we are now hearing of interest rate increases. I am re-visiting my thoughts on the BREXIT, A50 and all things UK in the soapbox section 5 later.\r\n\r\nHallelujah, the EUROZONE and EUROPEAN UNION is safe… Geert Wilders did not win the Dutch election he was crushed. My arse he was crushed. The incumbent Prime Minister Rutte lost 25% of the parliamentary seats he had prior to the election and Wilders gained 33% more seats at the election. Granted the racist is not in power, but the fecker wasn’t crushed and to claim that it was a clear and resounding victory for the Dutch process is pure Walt Disney. Holland is, was and as long as I am alive and not pushing up daisies, will always be a weak coalition run country.\r\n\r\nNext, we had the French Presidential debate when Macron did very well and was by all accounts hailed as the victor. The EUR/USD spiked 60-80 pips on this news. Pundits are now claiming 1.1000 to 1.1400. They say that this plus improving economic and inflation data from the EUROZONE is enough to push the single currency higher. FFS, what about BREXIT.\r\n\r\nBREXIT is not just potential bad news for the UK, it also has ramifications for the EU as well. Mind you the same flutes talking EUR/USD at 1.1400 are the same flutes talking parity next week should there be some bad EU news coming across the wires.\r\n\r\nYou must in my opinion, keep the FUNDAMENTALS in your head at all times. They will win out over the “technicals” on every occasion. Listen and note what the Central Bank Governors and Presidents say. Obtain copies of their speeches highlight the salient points. Over the longer-term this will stand you in good stead over the numpties on TV or your twitter feed. Punters can get it right every now and then but it’s gambling. Most of them have “no skin” in the game so to speak.\r\n\r\nMoving on…\r\n\r\nHow could I not include a paragraph about “THE DONALD!”\r\n\r\nSo, it would appear that the TRUMP TRADE is in doubt. “THE DONALD” is struggling with the new job. It’s probably much bigger than he thought. His dictatorship approach that he had in the TRUMP BUSINESS just will not cut it in Washington.\r\n\r\nThe repeal of OBAMACARE being the case in point. What an absolute fiasco. His “enough is enough” take it or leave it style, which frankly is a good one to adopt at times, otherwise you can sit there negotiating for days on end going around in circles day after day. did not work. Career politicians are strange beasts, especially if they are in safe seats. They could not give a rat’s ass about doing the right thing, whether for constituents or party. It is all about self-preservation. The only threat to their existence is expulsion from the party and given the US desire to take everything to a courtroom the process is long drawn out and appealed over and over.\r\n\r\nDonald Trump’s draining of the swamp needs to be done across his own party as much as the Democrats. Washington is dysfunctional, not managed and politicians are 100% self-serving.\r\n\r\n“THE DONALD” has probably taken on much more than he can chew. If he thought that threats would work in Washington… think again. This is politics not business.\r\n\r\nStill More…\r\n\r\nAfter last week’s fiasco…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#8 this Monday 27<sup>th</sup> March 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 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.: -\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></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-26032017.png\"><img class=\"aligncenter size-large wp-image-9296\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-26032017-1024x765.png\" alt=\"\" width=\"1024\" height=\"765\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nFrom my perspective, not a very busy week on economic data: -\r\n\r\nThis worries me as it will be equities, geopolitical events, BREXIT, the EUROZONE and “THE DONALD” that will drive markets.\r\n\r\nDo not forget March 29<sup>th</sup> BREXIT TRIGGER DAY for A50.\r\n<ol>\r\n 	<li>USD: Consumer Confidence numbers are always an indicator that I take seriously. If people are spending or feel confident to spend money this is a plus for an economy. If they are not spending the opposite applies. Given everything that is going on in the USA, I strongly suspect that this release will take on greater importance than usual this Tuesday.</li>\r\n 	<li>GBP: Current Account Data is backwards looking by about 90 days. Right now, it is an indicator that interests me because of BREXIT. It is all about currency demand and flows.</li>\r\n</ol>\r\n<u>\r\nUSD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/T-CHART-26032017.png\"><img class=\"aligncenter size-large wp-image-9297\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/T-CHART-26032017-1024x853.png\" alt=\"\" width=\"1024\" height=\"853\" /></a>\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-26032017.png\"><img class=\"aligncenter size-large wp-image-9302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-26032017-1024x454.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/2017/03/GBPUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9303\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-26032017-1024x454.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/2017/03/AUDUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-26032017-1024x454.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/2017/03/NZDUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9304\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-26032017-1024x454.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/2017/03/USDCAD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9306\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-26032017-1024x454.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/2017/03/USDCHF-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9307\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-26032017-1024x454.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/2017/03/UDSDJPY-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9305\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/UDSDJPY-D-26032017-1024x454.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 –  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\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\n&nbsp;\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\r\n</strong>\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>LET THE FUN AND GAMES BEGIN (PART ONE:</strong>\r\n\r\nSo, as far as I can see article 50 declaring the UK exit process begins on March 29th, 2017 when it is said that Theresa May the UK Prime Minister will actually trigger the mechanism for the BREXIT process to begin.\r\n\r\nSince the referendum vote in June last year when the UK electorate voted to exit the EUROPEAN UNION, sterling versus the USD has devalued 15%, Mark Carney, Governor of the Bank of England, stepped up to the plate immediately to support the financial markets with increased QE (Quantitative Easing) and an interest rate cut.\r\n\r\nSince then it has been one long news release of headlines such as; cable to parity, cable BREXIT declines are now baked in, Carney is going to raise rates as we now have inflation in the UK, it’s going to be a hard BREXIT, it’s going to be a soft BREXIT, we will create a tax free zone in the heart of London, we are not going to pay a bill of €64 million to exit the EUROPEAN UNION, no trigger of A50 no discussion on exit terms, the UK will get no favours on exiting the EUROPEAN UNION… on and on it went week after week.\r\n\r\nLet me just remind everyone… if you are reading this blog on the day it was posted, Article 50 has STILL NOT been invoked.\r\n\r\nHowever, here we are under a week away and the gamblers are out regarding what the GBP will do on the announcement?\r\n\r\nI do not know what the cable will do when the article will trigger. I suspect it will drop initially on the news and then it will bounce back, but I do feel that from the trigger date until the exit from the EU (in 2 years or more), the cable along with the EUR/GBP and to some extent the EUR/USD, could possibly be very much a news driven currency.\r\n\r\nI write this because we are in unchartered territory. I have written this before but let me remind you.\r\n\r\nThe only country that has previously exited the EUROPEAN UNION was GREENLAND. It took GREENLAND two years to do it. The UK has the same ambitious target in mind. Frankly given the complexities of the UK position in the EU vis-à-vis GREENLAND, in my opinion two years may be rather ambitious.\r\n\r\nIn addition, the BREXIT negotiations will not be friendly because the lead time from the actual referendum vote until the A50 trigger will be invoked will be about 9 months. In this period, the negotiating positions have been aired in public and it’s NOT cordial, far from it.\r\n\r\nThe UK want trade but they do not want freedom of movement at any price, allegedly up to a no deal position.\r\n\r\nThe EUROPEAN UNION cannot make the process easy, nor can they show any benefits of leaving the EU because this would feed the populist movements and a contagion effect would probably be in play.\r\n\r\nWe could a Mexican standoff on day one. Do NOT rule it out.\r\n\r\nThere will be mind games, silly games and possibly party games including musical chairs before these negotiations are completed.\r\n\r\nAs I understand it, the pathway forward is going to be something like this: -\r\n<ul>\r\n 	<li>A50 triggered by UK on March 29th, 2017.</li>\r\n 	<li>On April 29th, 2017, the remaining 27 EU members meet to discuss the UK request to withdraw.</li>\r\n 	<li>There is then a period of two years set aside when negotiations begin. A draft of the deal agreed between both parties is put before the 27 leaders (if this is still the number in two years!!).</li>\r\n 	<li>20 of the current 27 member countries totaling at least 65% of the EU population needs to approve the exit deal.</li>\r\n 	<li>It is then ratified by the European Parliament.</li>\r\n 	<li>If at the end of two years of negotiations nothing is finalized they can be extended only if all member countries agree.</li>\r\n 	<li>If no agreement between the two sides is negotiated. The UK leaves the EUROPEAN UNION.</li>\r\n 	<li>The UK Parliament repeals the 1972 European Communities Act.</li>\r\n 	<li>Should the UK want back into the EU it must go through the same procedures that any new entrant applies with.</li>\r\n</ul>\r\nEasy peasy… if only.\r\n\r\nThis will not be an easy process for the UK.  As the major banking clearing centre for the EU and EUROZONE, London stands to lose a great deal of its standing around the globe as a financial area of excellence. It will still be an important financial centre but not with the same gloss. This is a fact that cannot be cast aside glibly.\r\n\r\nThe world’s major banks sit in the City of London. If these banks want to continue to have a major presence in Europe, they will have to relocate. Plans are afoot already and I strongly suspect that relocation announcements will start dropping into the media soon as the invocation of A50 occurs. In my opinion, this reality will hit cable. No matter how much you hear BREXIT A50 trigger prices levels are baked in, this is now reality, it is much different in my opinion.\r\n\r\nNext you will hear of UK job losses for those staff that are not re-located. Do you really think this is good news? Estimates of job losses being floated about are circa. 100,000.\r\n\r\nThen we will have poor / weak capital flows. Many of the multi-national Banks will just have a bureau style approach to the UK, the major thrust of operations will be either in Dublin, Frankfurt or wherever, the movement of funds in and out of the UK decreases. This is big news for currencies and the UK economy etc.\r\n\r\nIf this bad news strikes home hard in the UK. The calls for a stronger negotiation stance will grow. Intransigence will then grow into the negotiating team. Marry that up with the expected no nonsense approach from the EUROPEAN UNION negotiators who do not want a contagion on their hands and we have games…. LET THE FUN AND GAMES BEGIN…. (PART ONE) …\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: #236 FREE NEWSLETTER\r\nDATE: 26th March 2017.\r\n\r\n&nbsp;', 'LET THE GAMES BEGIN (PART ONE):', '', 'publish', 'open', 'closed', '', 'let-games-begin-part-one', '', '', '2017-03-25 09:41:26', '2017-03-25 14:41:26', '', 0, 'https://weeklyfxdrivethru.com/?p=9313', 0, 'post', '', 0);
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(9314, 1, '2017-03-25 09:41:26', '2017-03-25 14:41:26', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nEasy things first.\r\n\r\nI am back from house hunting on the east coast of Canada and, I am pleased to say that my wife and I have found a new home just outside of Halifax, Nova Scotia. We are delighted with the house and we are both really excited about the impending move.\r\n\r\nOn the negative side. If you follow me on twitter, if you are a PREMIUM SERVICE subscriber or a regular reader of this blog, you would be aware that for months I have been plagued by a series of software calamities, initially brought about by upgrading to ios sierra. These issues were exacerbated by a virus on my main Mac desktop. Matters came to a head last Monday. I could not get sound on the webinar broadcast for the WEEKLY FX DRIVE THRU – LIVE. Talk about stress. I thought that my recent trading was stressful enough to manage but eventually I found out that the recent addition of protection via McAfee was not such a great idea after all as it was blocking me. There were numerous network issues that McAfee did not like, my 5 remote printers to name 5 things and, I was prepared to live with this, but blocking my headset!!… for God’s sake give me a break.\r\n\r\nMcAfee has been uninstalled, it has ceased to be, it has moved on, it is no more and it never will be again as far as I am concerned.\r\n\r\nI really apologize to those of you who were waiting patiently for me to roll into action on the Webinar last Monday. Hopefully next Monday the 27<sup>th</sup> March, all will be back to normal. Being away for a week operating on my MacBook Air, I was really looking forward to the show after having a good old look around the charts.\r\n\r\nLeading on from the pleasantries…\r\n\r\nBollocks.\r\n\r\nWhat a pig of a week I have had; you can put lipstick on it but it’s still a fecking pig.\r\n\r\nAs I have stated in previous blogs my aim was to clear out the dross, drain the swamp… so to speak of trades I no longer wanted. I have done that but added more trades that are up in my face. Longer-term, I am comfortable with them and I am adding more smaller positions at lows and highs (buying dips and selling rips), but as you know it always looks darkest when buying with a RED candle coming towards you or selling with a big GREEN candle coming towards your entry level. Such is life.\r\n\r\nI am making a few pips this month, which is great, however, on the negative side I am sitting in CORE POSITIONS all under water. I am holding small positions but with quite wide stops, on the positive side not much $$$ at risk thankfully.\r\n\r\nNext time you see a junk mail telling you trading forex is a piece of cake and you are a dipstick if you cannot make money out of this market, respond telling the sender to feck off. I am tired of reading about all these fantastic traders who report entries at the top and exits close to or at the bottom, or vice versa. Trading is basically you versus the world, and do not let anyone influence you to think any other way. I will make my 10,000 pips of net profit this year but it will not be easy. To believe the FX market is easy is naïve. Remember, the big banks are pulling back their operations because even with their wealth and monetary power to influence they still screw it up.\r\n\r\nIn addition, whilst I am on my first soapbox of this blog. If these robots that keep appearing mainly in my Gmail inbox are so damn good why haven’t the banks bought them up so the retail trader can’t have them. It’s dead simple… they do not work.\r\n\r\nStill on the soapbox…\r\n\r\nI just don’t get it. At times, I think that I am losing my mind. I read, examine and force myself to listen to chart only technical trader’s ideas and reasons behind trades. If you are a 15-minute trader, which I am not, I can see it, but in the time it takes me to make a mug of coffee, these traders have more often than not completed two trades. So much time is given to the 15-minute trader, maybe it’s the way to go moving forward.\r\n\r\nWhen I first started trading currencies I used to use a combination of a 5 ,15 and 45-minute chart to enter a trade style called a pullback strategy. It works. But it does not work in this market, or maybe it’s just me, I can’t get it to work. It’s a damn good strategy and effective. In 2014, 2015 and last year, I used this strategy quite a bit and for my shorter-term trades and it was effective. The odd shorter term trade would develop into a swing trade from the original set up. I have said to PREMIUM SERVICE subscribers who have been starved of my shorter-term set ups of FLASH and RADAR trades this year that I hoped after the FOMC interest rate decision some state of market normality and acceptance would step back in. Like Diana Ross… ”I’m Still Waiting”.\r\n\r\nNot getting too anal, but I have checked the parameters and tried it out on a demo account. I must be careful, I have two or three big hitter’s subscribers who despite the warnings and risks will load up on the short-term trades to trade with momentum. I know it sounds absolutely crazy, but over 75% of the time the reversals back in the trends are just not happening. Therefore, one of my keys of success with shorter-term trades was my identification of high probability trade set ups. At 75% against me, I will not risk my money nor the money of my subscribers until this ratio is at least 75% in my favour and not the markets.\r\n\r\nSo, these short-term technical traders are they just gambling? Could be, because you never hear or see them if a trade goes the wrong way.\r\n\r\nTrading, especially FX trading is all about RISK MANAGEMENT and POSITION SIZING. If I have to sit and wait for my trade so be it. You need the patience of a saint trading FX.\r\n\r\nBack to the markets…\r\n\r\nIt would appear that all is just fine and dandy over in the UK and the EUROPEAN UNION and EUROZONE.\r\n\r\nI get it. The UK printed a beat on CPi. Holy Mother of God… if you devalue your currency over 15% what the hell do you expect. The UK hasn’t even triggered A50 yet and we are now hearing of interest rate increases. I am re-visiting my thoughts on the BREXIT, A50 and all things UK in the soapbox section 5 later.\r\n\r\nHallelujah, the EUROZONE and EUROPEAN UNION is safe… Geert Wilders did not win the Dutch election he was crushed. My arse he was crushed. The incumbent Prime Minister Rutte lost 25% of the parliamentary seats he had prior to the election and Wilders gained 33% more seats at the election. Granted the racist is not in power, but the fecker wasn’t crushed and to claim that it was a clear and resounding victory for the Dutch process is pure Walt Disney. Holland is, was and as long as I am alive and not pushing up daisies, will always be a weak coalition run country.\r\n\r\nNext, we had the French Presidential debate when Macron did very well and was by all accounts hailed as the victor. The EUR/USD spiked 60-80 pips on this news. Pundits are now claiming 1.1000 to 1.1400. They say that this plus improving economic and inflation data from the EUROZONE is enough to push the single currency higher. FFS, what about BREXIT.\r\n\r\nBREXIT is not just potential bad news for the UK, it also has ramifications for the EU as well. Mind you the same flutes talking EUR/USD at 1.1400 are the same flutes talking parity next week should there be some bad EU news coming across the wires.\r\n\r\nYou must in my opinion, keep the FUNDAMENTALS in your head at all times. They will win out over the “technicals” on every occasion. Listen and note what the Central Bank Governors and Presidents say. Obtain copies of their speeches highlight the salient points. Over the longer-term this will stand you in good stead over the numpties on TV or your twitter feed. Punters can get it right every now and then but it’s gambling. Most of them have “no skin” in the game so to speak.\r\n\r\nMoving on…\r\n\r\nHow could I not include a paragraph about “THE DONALD!”\r\n\r\nSo, it would appear that the TRUMP TRADE is in doubt. “THE DONALD” is struggling with the new job. It’s probably much bigger than he thought. His dictatorship approach that he had in the TRUMP BUSINESS just will not cut it in Washington.\r\n\r\nThe repeal of OBAMACARE being the case in point. What an absolute fiasco. His “enough is enough” take it or leave it style, which frankly is a good one to adopt at times, otherwise you can sit there negotiating for days on end going around in circles day after day. did not work. Career politicians are strange beasts, especially if they are in safe seats. They could not give a rat’s ass about doing the right thing, whether for constituents or party. It is all about self-preservation. The only threat to their existence is expulsion from the party and given the US desire to take everything to a courtroom the process is long drawn out and appealed over and over.\r\n\r\nDonald Trump’s draining of the swamp needs to be done across his own party as much as the Democrats. Washington is dysfunctional, not managed and politicians are 100% self-serving.\r\n\r\n“THE DONALD” has probably taken on much more than he can chew. If he thought that threats would work in Washington… think again. This is politics not business.\r\n\r\nStill More…\r\n\r\nAfter last week’s fiasco…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#8 this Monday 27<sup>th</sup> March 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 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.: -\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></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-26032017.png\"><img class=\"aligncenter size-large wp-image-9296\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-26032017-1024x765.png\" alt=\"\" width=\"1024\" height=\"765\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nFrom my perspective, not a very busy week on economic data: -\r\n\r\nThis worries me as it will be equities, geopolitical events, BREXIT, the EUROZONE and “THE DONALD” that will drive markets.\r\n\r\nDo not forget March 29<sup>th</sup> BREXIT TRIGGER DAY for A50.\r\n<ol>\r\n 	<li>USD: Consumer Confidence numbers are always an indicator that I take seriously. If people are spending or feel confident to spend money this is a plus for an economy. If they are not spending the opposite applies. Given everything that is going on in the USA, I strongly suspect that this release will take on greater importance than usual this Tuesday.</li>\r\n 	<li>GBP: Current Account Data is backwards looking by about 90 days. Right now, it is an indicator that interests me because of BREXIT. It is all about currency demand and flows.</li>\r\n</ol>\r\n<u>\r\nUSD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/T-CHART-26032017.png\"><img class=\"aligncenter size-large wp-image-9297\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/T-CHART-26032017-1024x853.png\" alt=\"\" width=\"1024\" height=\"853\" /></a>\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-26032017.png\"><img class=\"aligncenter size-large wp-image-9302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-26032017-1024x454.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/2017/03/GBPUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9303\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-26032017-1024x454.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/2017/03/AUDUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-26032017-1024x454.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/2017/03/NZDUSD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9304\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-26032017-1024x454.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/2017/03/USDCAD-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9306\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-26032017-1024x454.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/2017/03/USDCHF-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9307\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-26032017-1024x454.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/2017/03/UDSDJPY-D-26032017.png\"><img class=\"aligncenter size-large wp-image-9305\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/UDSDJPY-D-26032017-1024x454.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 –  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\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\n&nbsp;\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\r\n</strong>\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>LET THE FUN AND GAMES BEGIN (PART ONE:</strong>\r\n\r\nSo, as far as I can see article 50 declaring the UK exit process begins on March 29th, 2017 when it is said that Theresa May the UK Prime Minister will actually trigger the mechanism for the BREXIT process to begin.\r\n\r\nSince the referendum vote in June last year when the UK electorate voted to exit the EUROPEAN UNION, sterling versus the USD has devalued 15%, Mark Carney, Governor of the Bank of England, stepped up to the plate immediately to support the financial markets with increased QE (Quantitative Easing) and an interest rate cut.\r\n\r\nSince then it has been one long news release of headlines such as; cable to parity, cable BREXIT declines are now baked in, Carney is going to raise rates as we now have inflation in the UK, it’s going to be a hard BREXIT, it’s going to be a soft BREXIT, we will create a tax free zone in the heart of London, we are not going to pay a bill of €64 million to exit the EUROPEAN UNION, no trigger of A50 no discussion on exit terms, the UK will get no favours on exiting the EUROPEAN UNION… on and on it went week after week.\r\n\r\nLet me just remind everyone… if you are reading this blog on the day it was posted, Article 50 has STILL NOT been invoked.\r\n\r\nHowever, here we are under a week away and the gamblers are out regarding what the GBP will do on the announcement?\r\n\r\nI do not know what the cable will do when the article will trigger. I suspect it will drop initially on the news and then it will bounce back, but I do feel that from the trigger date until the exit from the EU (in 2 years or more), the cable along with the EUR/GBP and to some extent the EUR/USD, could possibly be very much a news driven currency.\r\n\r\nI write this because we are in unchartered territory. I have written this before but let me remind you.\r\n\r\nThe only country that has previously exited the EUROPEAN UNION was GREENLAND. It took GREENLAND two years to do it. The UK has the same ambitious target in mind. Frankly given the complexities of the UK position in the EU vis-à-vis GREENLAND, in my opinion two years may be rather ambitious.\r\n\r\nIn addition, the BREXIT negotiations will not be friendly because the lead time from the actual referendum vote until the A50 trigger will be invoked will be about 9 months. In this period, the negotiating positions have been aired in public and it’s NOT cordial, far from it.\r\n\r\nThe UK want trade but they do not want freedom of movement at any price, allegedly up to a no deal position.\r\n\r\nThe EUROPEAN UNION cannot make the process easy, nor can they show any benefits of leaving the EU because this would feed the populist movements and a contagion effect would probably be in play.\r\n\r\nWe could a Mexican standoff on day one. Do NOT rule it out.\r\n\r\nThere will be mind games, silly games and possibly party games including musical chairs before these negotiations are completed.\r\n\r\nAs I understand it, the pathway forward is going to be something like this: -\r\n<ul>\r\n 	<li>A50 triggered by UK on March 29th, 2017.</li>\r\n 	<li>On April 29th, 2017, the remaining 27 EU members meet to discuss the UK request to withdraw.</li>\r\n 	<li>There is then a period of two years set aside when negotiations begin. A draft of the deal agreed between both parties is put before the 27 leaders (if this is still the number in two years!!).</li>\r\n 	<li>20 of the current 27 member countries totaling at least 65% of the EU population needs to approve the exit deal.</li>\r\n 	<li>It is then ratified by the European Parliament.</li>\r\n 	<li>If at the end of two years of negotiations nothing is finalized they can be extended only if all member countries agree.</li>\r\n 	<li>If no agreement between the two sides is negotiated. The UK leaves the EUROPEAN UNION.</li>\r\n 	<li>The UK Parliament repeals the 1972 European Communities Act.</li>\r\n 	<li>Should the UK want back into the EU it must go through the same procedures that any new entrant applies with.</li>\r\n</ul>\r\nEasy peasy… if only.\r\n\r\nThis will not be an easy process for the UK.  As the major banking clearing centre for the EU and EUROZONE, London stands to lose a great deal of its standing around the globe as a financial area of excellence. It will still be an important financial centre but not with the same gloss. This is a fact that cannot be cast aside glibly.\r\n\r\nThe world’s major banks sit in the City of London. If these banks want to continue to have a major presence in Europe, they will have to relocate. Plans are afoot already and I strongly suspect that relocation announcements will start dropping into the media soon as the invocation of A50 occurs. In my opinion, this reality will hit cable. No matter how much you hear BREXIT A50 trigger prices levels are baked in, this is now reality, it is much different in my opinion.\r\n\r\nNext you will hear of UK job losses for those staff that are not re-located. Do you really think this is good news? Estimates of job losses being floated about are circa. 100,000.\r\n\r\nThen we will have poor / weak capital flows. Many of the multi-national Banks will just have a bureau style approach to the UK, the major thrust of operations will be either in Dublin, Frankfurt or wherever, the movement of funds in and out of the UK decreases. This is big news for currencies and the UK economy etc.\r\n\r\nIf this bad news strikes home hard in the UK. The calls for a stronger negotiation stance will grow. Intransigence will then grow into the negotiating team. Marry that up with the expected no nonsense approach from the EUROPEAN UNION negotiators who do not want a contagion on their hands and we have games…. LET THE FUN AND GAMES BEGIN…. (PART ONE) …\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: #236 FREE NEWSLETTER\r\nDATE: 26th March 2017.\r\n\r\n&nbsp;', 'LET THE GAMES BEGIN (PART ONE):', '', 'inherit', 'closed', 'closed', '', '9313-revision-v1', '', '', '2017-03-25 09:41:26', '2017-03-25 14:41:26', '', 9313, 'https://weeklyfxdrivethru.com/9313-revision-v1/', 0, 'revision', '', 0),
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