The one country that many tourists love to visit is Thailand. It has great food, shopping and friendly locals.
But since July 2018, the baht has appreciated so much against the USD (same for SGD) that things are getting more expensive now in Thailand.
July 2018 - 1 USD = 34.656 THB
Dec 2019 - 1 USD = 30.178 THB
China tourists is probably the biggest outbound...
This is a descending wedge which are bullish. In the long run, monthly I see a target of 36 in the years to come. World trade and spending are slowing in the macro economic picture and EMs will not hold up! If you have baht, time to sell and reverse positions as 29 or 30 baht per dollar will NO WAY hold much longer. This kind of rate is totally ridiculous in the...
THAI BAT STRENGHT COULD HAVE BOTTOMED WITH USD DOLLAR REVERSAL
THAI BAT STRENGHT REVERSING ON AN HAMMER CANDLE SIGNAL OF TREND REVERSAL
FOR BOTTOM REBOUND UPSIDE IN THE U.S.DOLLAR, COULD SIGNAL MUCH PAIN COMING IN EMERGIN MARKET CURRENCIES
AND FURTHER U.S. DOLLAR STRENGTH
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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USDTHB bounced off 30.150 where it could potentially rise further to 30.467.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USD/THB is going back to his support around the area of 29.70000
Good reasons that could happen:
1.: europe holidays are done and people are start working=less money circulation for their tourists
2.: fed has pumped money into their monetary system to prevent recessions
3.: price action bars tell you more than just the price.
Have a nice and risk management week
Pretty self explanatory trade. We've been in a long term down trend for awhile now and recently broke the support level and closed below it on the daily chart. At this stage I'm just waiting for a pullback and some signs of entry to get short on this. I'll be looking for a long term trade on this heading towards 29.77820 level
Priceline of US Dollar / Thai Baht forex pair has formed a bullish butterfly pattern and entered in potential reversal zone to hit the sell target soon insha Allah.
This PRZ area is also a stop loss point, in case of complete candle stick closes below this area.
MACD is turning bullish, it was strong bearish now turned weak bearish.
RSI is oversold.