TP = 33.600 hit as the previous 1D Channel Up aggressively broke to the upside (as indicated by the 4H consolidation mentioned on the previous post) and peaked at 34.650. Now a new 1D Channel Down has emerged (RSI = 30.614, MACD = -0.139, Highs/Lows = -0.2244, B/BP = -0.4740) aiming at a Lower Low near the 31.850 support. We are short with TP = 32.000.
The previous review of the USD/THB currency exchange rate concentrated on the newly formed less steep bullish pattern. On Tuesday, the pattern was still in force, as the currency exchange rate was declining in the borders of it.
However, something else attracted the attention of Dukascopy Analytics. Namely, a long term, large scale channel up pattern was spotted...
There is something about the USD/THB pair that you can observe only by changing the time frames of the charts while having set up them to show the 200-period simple moving average.
Namely, the most important is the fact that the currency exchange rate has passed the 200-day SMA, which has kept the pair lower since the start of 2017. In addition, the four hour...
Probably 24.2 would hold the price.
25 would be a good price to go change your dollar and fly to Thailand for holiday.
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
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