I have a stinking cold at the moment so not managed to string a
sentence together for a video without coughing and spluttering 
The $US is currently regaining a little ground, which is understandable after last weeks big moves.I was still watching the Aud for bounces back down from 1.05700, it did it again Monday & Tuesday. With counter trend swing/bounce trades like this it is more important than ever to get stops to entry asap. I move my stops to entry as soon as my trade is 25 pips in profit. I then take some profit and leave the balance to run.
This Aud resistance has held for many, many months as explained once more in Sundays analysis BUT gold & silver bounced at weekly areas AND there are reports coming out of Germany that they intend to repatriate most or all of their gold reserves, back to German banks. Here at forex mentorpro.com we trade from technical analysis, but it is important to always pay attention to fundamentals. The news, word on the street, financial reports and releases.
The story claims that the Bundesbank intends to remove all of its gold from France, and large amounts from London & the Federal reserve. The conspiracy theorists who claim that there is no gold left in Fort Knox could have a field day with this, but even the more conservative analysts will be concerned if this report proves to be correct. The whole monetary system is based on trust. Gold storage even more so. Often purchases never leave the vault and there have been instances in the past when the quality of gold has not been as high as the assayed value and there is always the fear that an unscrupulous bank may have sold it.
The rumour is that this announcement will be made official today.As recently as October the Bundesbank denied there was any need to repatriate its gold, this is a major about face and could see gold shoot up in value.
Australia holds large gold reserves and is therefore usually correlated.
As you can see on the gold daily chart price has currently stopped at an upper bollinger band and 55ema if gold “pops” then its likely the Aud will follow.
If it does the Aud could finally break the 1.0600 upper resistance area. Be extra careful shorting there now. The more conservative way to trade is to wait for pull backs to 1.0400 as explained on Sunday or an M2 break and pull back above 1.0600
Other than that I am still watching major areas (see Sundays analysis) on the other pairs. Pull backs were to expected, and technical indicators supported that theory.
My plan for the day? Off back to bed, my wife claims its man flu (i.e its just a bit of a cold for a woman) but she doesn’t appreciate how sensitive we men can be
Pierre, Vassilis (Capsmart), Raa, Omar, Mary, and other experienced members will be available in the forum to give you a more up to the minute assessment & whether they see any potential trades lining up in the next few days. Many members tell me this is the best forex forum there is (no back biting & bitchiness, nor spam, that spoils most forums) and all members are happy to help new visitors. Its a great resource, USE IT: Forex Forum