USDTHB structure replay

OANDA:USDTHB   U.S. Dollar / Thai Baht
First time I forecast this exotic I believe. Instantly noticed this diagonal trend and the bearish candles for August and September '18 lookalikes. Based on this and more possibly current bullish candle to turn bearish up to 30.6, 30.2 or even all the way down to 29.7. Then a bullish candle for October and another two bearish for November and December targeting 28.55.

Thailand may see lesser US tourists already ongoing from October '15. Wasn't that when FED started printing?

Note the volumes of late '08 and '09 and now at higher levels than previous years from March '18 till date. If volume spikes like March '09 repeat this pair might hit new record lows. Even more as the diagonal downtrend may be recognised as part of a descending triangle and signal a accelerated breakdown.

UJ Seasonality agrees as USD devaluation has broken pre-covid lows back July and momentum has not signalled to reverse imho.


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