Sawadee Khrup - USDTHB
Updated
Thai baht has been very strong against the USD. It has appreciated more than 11% to its current price. Now it sits at the 50% FIB level and possibly there might be a retracement or it could heads further south to 61.8 FIB level before rebound.
Watch the wedge pattern breakout and be careful of false breakout. Take a small position and accumulate slowly if unsure, always use SL and manage your trade. Best of luck !
Watch the wedge pattern breakout and be careful of false breakout. Take a small position and accumulate slowly if unsure, always use SL and manage your trade. Best of luck !
Note
selling still not done. we are waitingNote
we have learnt from many many charts that the price action will not touch precisely at the FIB level, be it 50% or 61.8% . It may exceed a little like in this case before it retrace.Note
2 months later , still no visible signs of price stabilising and rebounding. Be patientNote
Nice fall, reaching the 618 FIB level, watch for possible rebound. Don't miss the ride up :)Note
Not yet after 2 months, the weakening of US dollar has caused many emerging markets currencies to strengthen , just like THB.price has now reach the 22nd Oct 2013 low. It could go a bit more to 30.89 before we see a rebound. Definitely not to short but await a good opportunity to buy. Go to lower time frame to monitor price action.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.