UUSD/THB Analysis on 1H and 1D Timeframes
1H: It appears that we’ve hit a bottom at $32/THB and have seen a solid bounce. The uptrend is likely to continue after a brief correction.
The MACD is resetting lower and needs some time to reach a bottom.
The RSI is very low, which indicates a potential short-term bounce.
Conclusion: We should stabilize above $33/THB in the short term.
1D: The daily chart presents a more mixed outlook. While it seems we’ve bottomed at $32/THB, the MACD still needs to reset, suggesting the current bounce is temporary. Additionally, the RSI is overbought, which points to a likely correction until November, when a downtrend reversal could be confirmed with a lower low.
Invalidation: If THB/USD falls below $32/THB, it means the bottom is not yet in, and the bounce was a bull trap or fakeout.
1H: It appears that we’ve hit a bottom at $32/THB and have seen a solid bounce. The uptrend is likely to continue after a brief correction.
The MACD is resetting lower and needs some time to reach a bottom.
The RSI is very low, which indicates a potential short-term bounce.
Conclusion: We should stabilize above $33/THB in the short term.
1D: The daily chart presents a more mixed outlook. While it seems we’ve bottomed at $32/THB, the MACD still needs to reset, suggesting the current bounce is temporary. Additionally, the RSI is overbought, which points to a likely correction until November, when a downtrend reversal could be confirmed with a lower low.
Invalidation: If THB/USD falls below $32/THB, it means the bottom is not yet in, and the bounce was a bull trap or fakeout.
Trade active
This idea has once again proven very accurate. Now, we’re seeing a bullish crossover in the MACD, a rising RSI, and an upward trend for $USDT/
THB, indicating a more favorable exchange rate for foreigners living in Thailand and a weakening Baht.Good news for expats—we’re heading back toward 38 THB to $1!
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Disclaimer
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Telegram: t.me/cryptonikkoid
Twitter X: x.com/cryptonikkoid
Web: nikkoid.com
I do not answer to private messages. Use the comment section of the idea or script, or use Telegram.
Twitter X: x.com/cryptonikkoid
Web: nikkoid.com
I do not answer to private messages. Use the comment section of the idea or script, or use Telegram.
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.