The pair is trading on a multi month 1M Channel Down (RSI = 35.185, MACD = -0.898, Highs/Lows = -0.7368). The price is now on the 1D MA50 (blue line) which since May 2019 has always initiated a new bearish leg. Since the 1D RSI is also approaching the usual 65.60 Sell Level, we are expecting a decline. Our Target is 30.000.
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The priceline of USDTHB is moving within an Up channel and hits at the channel's support.
The MACD is turning bullish.
RSI is oversold.
Stochastic is oversold and gave bull cross.
The sell targets are as below:
Short between: 30.912 to 30.966
Atif Akbar (moon333)
The Thai baht over the past week started out the week sideways, but like the Singapore dollar ended the week up. This pair is a bit more impacted recently from political risk surrounding its election and because of this we may see more volatility not related to technical or fundamental components. Nonetheless, its important to keep in mind the overall trend...
Ordinary least squares method suggests we are still trending down in this pair even as many other Southeast Asian currencies are trending much further down such as USDSGD as can be seen here: In that respect, Thailand is an under-performer, but momentum has stalled even though some of...
Overall downward trend. However, moderate inflation at around 1 percent, growth contraction in Q3 2018 and only .8 percent growth in Q4 2018. Keep an eye on price action and be ready to make a quick move.
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.
USDTHB should enter a consolidation phase on 4H (as seen on the Rectangle with high volatility, ATR = 0.0861) in order to bring down the overbought values on the most recent bullish run on the 1D Channel Up (RSI = 72.893, Williams = -12.000). The suggested course of action is to buy on every dip within the Rectangle, TP = 33.600.