I have just completed my weekly technical analysis involving the screening of the pairs on my watch list to select a few pairs that meet my trading criteria and system. Largely the markets are either ambivalent or lacking in directional momentum. Therefore, I am waiting out the early part of this week for directional clarity. Two pairs I will be watching are XAUUSD and GBPZNZD.
I am short-term bearish XAUUSD as price action on the daily time frame appears to be due for a corrective southward retracement.
Generally, I am bearish GBPNZD but will wait for the market to show clarity of its intent after Monday or Tuesday. A sell trading setup around the 1.91000 area will pique my interest.
I may be wrong. Trade safe and prosper.