Sell the Rallies. IMHO This is a dead cat bounce, DYOR , Don't play with money you cant afford to lose...
We cant always be right so always set a stop and its your own risk if you hold over what could be a volatile weekend as far as news goes.
Remember we have passed the death cross and people are not turning to gold as a safe haven.
1. If you are aggressive go on a break close
2. Non aggressive , wait for a break close , hook ( return) and a rebound.
Are we consolidation....
If we broke short Target would be 1242,
If we break high Target is 1293
Based on a Fib from 2016 to the low of 2017. The price bounces off the 32fib and continues down. On the daily chart there is now a small wedge forming and it is not making higher highs. Bollinger bands are tightening up and price closed below the MA. Target price 1.25470.
Based on the week results from New Zealand , Interest rates not moved and even a possible drop next meeting. Lower rates mean that people don't put there money banks etc and this has depreciate the the NZD. I think it will still get a hammering , but stop is set below last high , as per chart.
Also on the back of this I have a long GBP/NZD and short GBP/AUD,