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 USD/THB currency pair has been trading in a descending triangle since the end of October.
From a theoretical point of view, a breakout north from the pattern occurs in the nearest future. A potential upside target is the upper boundary of the medium-term descending channel located circa 3.24. Technical indicators for the 1W time frame support bullish...
The US Dollar has been depreciating against the Thai Baht in a short-term descending channel after the exchange rate reversed from the upper boundary of a long-term descending channel at 33.05.
As apparent on the chart, the currency pair has breached the support level formed by a combination of the 100– and 200-period SMAs (4H). Given this fact, it is likely...
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 Thai Baht has been appreciating against the US Dollar since the end of August. This movement is bounded by a descending channel.
Currently, the currency pair is trading near the lower channel line at 32.43. From the theoretical point of view, the pair could reverse from the lower boundary of given channel and aim for the resistance cluster formed by a...
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.
This pair broke above the long term resistance (yellow) last month.
EM currencies suffer a lot these days amid strong dollar and rising yields.
USDTHB could finish triangular consolidation soon.
The target for the further rise of USDTHB is set within the orange box at the 0.382-0.618 Fibonacci.
Wait if price could break above the triangle's upside.
The US Dollar has been trading in an ascending channel against the Thai Baht for the last two months. This has guided the pair from its 2014/2018 low of 31.10 towards the 61.80% Fibonacci retracement at 32.20.
From theoretical point of view, the pair has failed to form a new high this week which might be an early indication of a new wave down. In case the senior...
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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