A bit of forex sometimes is interesting, but i will tell you a secret, if you are succesfull to trade cryptos. You can trade everything in the world.
Here a bit history :
So Euro was pushed down for more than 10 years, post crises 2008 it was like a long bloodbath ! Thailand Major tourism inflation pushed Thai Bath a lot, riches peoples are happy when their own money is rocketing to the moon so they can fly to others countries and buy some chanel bags cheaper!. The big Problem off this theory is a Coin have 2 sides, when u push something very high for riches, tourists spend less money or change holiday country, finally at the end poors peoples are the most impacted and more suffering from poverty.
Like you can see in the chart Euro Bounced at 32THB and this was the Lowest all time low EURO reached in 2000... and then in 2019 Euro Bounced again around 32 THB!! Magic... Actually Euro's trying to break the downtrend around 37 THB. Remember that Fibonacci told you that the story repeats all the time and this case is an pure exemple!, everything goes up have to go down and everything goes down have to go up.
The world is working like that, there's no winners from Greed and Fear when the Balance is not adjusted correctly.
Retracement according to Fibonnacci should be easy :
- Short Term 40 THB - Middle Term 45 THB - Long Term 50 THB
Thank you for your amazing analysis. Love it. You think Europe crisis will not impact negatively EUR/THB ?
thecryer
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@Tiaggaws, already impacted THB. if you check right now, USD/THB was very weak few times ago ( like 1 usd was 28 THB ). now that EUR is weaker than USD, you can notice that USD is much stronger to THB. there's a big correlation. like USD is saving EUR from a big fall to THB.