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USD/ZAR breaking resistance

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platsak
Super Contributor
Think all that is left to me is to open that dwt day trading account for gap trading.
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look on the bright side, doesnt SA have a fair sized gold reserve?
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_nova
Super Contributor
yep Tribal, the Gov and the mines have a fair sized reserve... not the consumer who buys the imports nuh? Problem is we're a resource export economy with a BIG deficit... so expect USDZAR14.00 very soon. That's roughly 30% devaluation which adds about the same to inflation nuh?
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Wizard
Super Contributor
Relax people...that looks like 61.8% Fibs correction completed from the high of 1355 to the low of 560. It's only a spike. It will come down now. Good buy Iceland...! Glad we coming back home...
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_nova
Super Contributor
hehe Wiz, last thing we need right now is a 'relatively'..'stronger'.. Rand nuh? Could really mess up the deficit something awfull
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Wizard
Super Contributor
We are only traders nova. :) We adjust to the current conditions. If Tito missed the opportunity to sell some gold last night that's his problem
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_nova
Super Contributor
YEAP! on the button bru... and he had the Aussie and the NZ Dollar as a headstart and he missed it!!!!!!!!!
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