THBUSD trade ideas
USDTHB - Big Potential opportunityPotential opportunity to stand at the beginning of a trend. The end of the 5th wave formation. I will wait for the rollback to Fibo level 0.618 and get up.
Thailand may not smile as much as before - USDTHBThe 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 travellers that any countries would love to have them. Not so for Thailand as in this article :https://www.scmp.com/magazines/post-magazine/travel/article/2166804/thailand-disturbed-sharp-decline-chinese-tourists
How about the stock market ? Funds are fleeing as well apparently :https://www.thestar.com.my/business/business-news/2019/12/12/thailands-stock-market-seen-reeling-from-foreign-exodus
Let's hope the signing of the US-China trade agreement will give the much needed boost it needed both for the stock market and its currency.
I missed Tom Yum, the beaches, Pad Thai, OMG.............
36 baht per USD target. Long prediction. 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 grand scheme of world economics. These FX currency flows into Thailand (despite huge tourism numbers decreasing) is a suckers market. Its mostly Chinese construction companies laundering money to get money out of china to build more Bangkok condos which nobody is buying! (Huge numbers of unsold condos in Bangkok in 2018, apprx 650,000 unsold units, should be higher in 19" and 20's!). To think Thailands economy is strong is misleading, its a house of cards. I have been living in Thailand on and off since 2010 so know things from feet on the ground. 30/USD is just way overvalued.
Watch for the break out from the wedge and indicators that go along with it.
USDTHBHi guys, the USDTHB is making an ending diagonal. I am looking to buy it short term to finish the triangle. Then sell it back to the bottom.
Thanks A Million Times
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Trade With Care
USDTHB: Short signal on the 1D EMA50.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 from support, potential for a further rise!
USDTHB bounced off 30.150 where it could potentially rise further to 30.467.
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Losses can exceed the initial investment so please ensure you fully
understand the risks.
usd/thb back to 29.70000 supportUSD/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
Hola
USD/THB Short Trade BiasPretty 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
USDTHB fomred bullish butterfly | Upto 4.5% bull move.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.
Stochastic is oversold.
Volume profile of complete pattern is showing less interest of traders at this area.
I have used Fibonacci sequence to set the targets:
Buy between: 30.772 to 30.397
Sell between: 31.064 to 31.770
Enjoy your profits and regards,
Atif Akbar (moon333)
USDTHB hits the support of channel | a good long opportunityThe 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
Regards,
Atif Akbar (moon333)
