SA Rand & Gold
Updated October 30, 2011 - Gold in SA Rand - fresh breakout
South African Rand Gold | ||
Bullish objective | R - 18000 | |
Resistance | R - 13800 | |
Support | R - 12800 | |
Bearish objective | R - 12600 | |
Technical pattern | fresh BUY signal |
October 30, 2011 :
South African Rand | ||
US $ | Euro | |
Bullish Objective | $ 16.50 | € 12.25 |
Resistance | $ | € |
Support | $ 14.50 | € 10.80 |
Technical pattern | ???? | ???? |
1) SA Rand in Dollar:
2) Rand in Euro: resumed bear trend..or not...again the Greek crisis had also an important impact on the exchange rate of the SA Rand.
-
Amazing is that after the December 2001 sell off the Rand has recovered all the way to its long term trend against the Dollar (Dec/Jan 2004-2005). Ever since it has been weakening again. October 22/23 it has violently broken down out of a triangle. The Resistance level of 0.09 has been confirmed by the triangle. Long Term, the Rand could be following in the footsteps of the Zimdollar.
-
May 28 - July 21 : The rand is pulling back towards its previous support line which has now become resistance (0.09) Similar conditions occurred in the past after a sell off of the Rand. The South African Rand is also a Commodity currency and was way oversold against the Dollar. The policy of the SA Reserve Bank is to maintain the value of the Rand on an edge between the US Dollar and the Euro.
-
January 2010: breaking out of the reversed HS pattern!?..or will the pattern become a BEARISH WEDGE!
-
March 2010: a breakout and short to medium term opportunity...
-
May 2010: running into the long term secular down trend line = caution
-
December 31, 2010 : breakout !
-
June 2011: the Rand certainly is NOT weaker than the Euro.
Updated May 20, 2011
South-Africa has always been the most European country of Africa. It was also the country which was rules the longest by white people. Historically, since the sanctions of 1960 the Rand has been a weak currency. Today it appears that like the Australian Dollar it is advantaged by the boom in Commodity prices. The previously disadvantaged has become advantaged. We did some research about the financial situation of South Africa years ago as The Mountainlands project was started up and the figures looked rather good.
Click here for the report of the IMF . Short to Medium term the Rand offers a valid alternative to the Dollar and the Euro.
Fixed deposits earn from 5% to 8%...Fundamentally we have come to a point where the SA-Rand is probably a safer Fiat currency than the Euro, the Dollar, the Canadian Dollar and the British Pound.
NO African country can and will survive without the receipts of the export of African Commodities: Gold, silver, diamonds, etc... ALL African rulers, how corrupt they may be know this.