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U.S. Dollar / Thai Baht

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USDTHB trade ideas

USDTHB Long oportunity?Hi everyone, looking at monthly chart, we can see that we are approching support from 2007,2008,2013 and 2019, also around the support line we have a fibonnaci extension from the AB corrective wave. From there we may see a price rise. I would like to point out that Thailand is beloved by many people as holiday destination, which may be a trigger to the upside once holiday will be allowed as many people are being vaccinated. Also check GBPTHB analysis which points the same direction. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
Long
by Coder775
RidetheMacro| USDTHB Market Commentary 2020.09.21As the drivers of exports and tourism continue to be missing in action, the negative GDP growth trend is here to stay for the rest of the year, and perhaps beyond. Rising political uncertainty is another reason why we expect the Thai baht to remain one of Asia's weakest currencies over the remainder of the year. 🦠 Thailand has been one of Asia’s Covid-19 success stories. It was the first Asian country outside China to report infections but also the first one to have the outbreak under control. ⚡ However, the economy hasn't been spared from the fallout of this global Covid-19 pandemic. A 12% GDP plunge in 2Q was the steepest since the Asian crisis in 1998. Without vigorous exports and a recovery in tourism, a couple more quarters of negative growth remains our baseline. 📌 High unemployment and weak demand have pushed inflation into negative territory. Inflation should continue to be a non-issue for the economy and for policy throughout 2021-2021. 📍 Covid-19 stimulus worth a total of 14.5% of GDP places Thailand in the ranks of the big spenders throughout in this cOVID-19 crisis. A little over half of this comprises a genuine boost.📉 🔑 The economy is sinking into a recession. The recovery is going to be even slower than the most recent crisis. Thanks for keeping the feedback coming 👍 or 👎 Ridethemacro
Long
by Ridethemacro
USDTHB structure replayFirst time I forecast this exotic I believe. Instantly noticed this diagonal trend and the bearish candles for August and September '18 lookalikes. Based on this and more possibly current bullish candle to turn bearish up to 30.6, 30.2 or even all the way down to 29.7. Then a bullish candle for October and another two bearish for November and December targeting 28.55. Thailand may see lesser US tourists already ongoing from October '15. Wasn't that when FED started printing? Note the volumes of late '08 and '09 and now at higher levels than previous years from March '18 till date. If volume spikes like March '09 repeat this pair might hit new record lows. Even more as the diagonal downtrend may be recognised as part of a descending triangle and signal a accelerated breakdown. UJ Seasonality agrees as USD devaluation has broken pre-covid lows back July and momentum has not signalled to reverse imho.
Short
by Deep-Peat-Shark
Dissection of Head N Shoulder Monthly ChartOn Friday we had a break and close above a downtrend that went on since the beginnings of April this year. Now this doesn't mean that price must now shoot off to the moon, this would be a much greater certainty once price manages to, if it ever does, do the same thing across the down trendline extending from late 2015. If anything, the level that should hold and not be revisited in years to come is the low of the Right Shoulder, subsequently if price does cross above the yellow dotted line, I would hope for price to then the last low at 30.8, for a cruise to at least the last high @33.20. Happy Trading.
Long
by HydraFinance