If you have experience with Elliott Wave Theory I would really love your insight and feedback. Does this look right? I ran Fib Retracement and then Fib Extention. Is this a good projection or should I go back further and start over with a new count?
The US Dollar has been depreciating against the Thai Baht in a short-term descending channel after the exchange rate reversed from the upper boundary of a long-term descending channel at 33.05.
As apparent on the chart, the currency pair has breached the support level formed by a combination of the 100– and 200-period SMAs (4H). Given this fact, it is likely...
Come on, for a country that lives off tourist and foreigner investment, THB is stronger than JPY and CHF against USD?????? This is a no brainner, up it is, targer 33.8-34.2 to be inline with the rest of the world.
TP = 33.600 hit as the previous 1D Channel Up aggressively broke to the upside (as indicated by the 4H consolidation mentioned on the previous post) and peaked at 34.650. Now a new 1D Channel Down has emerged (RSI = 30.614, MACD = -0.139, Highs/Lows = -0.2244, B/BP = -0.4740) aiming at a Lower Low near the 31.850 support. We are short with TP = 32.000.
The Thai Baht has been appreciating against the US Dollar since the end of August. This movement is bounded by a descending channel.
Currently, the currency pair is trading near the lower channel line at 32.43. From the theoretical point of view, the pair could reverse from the lower boundary of given channel and aim for the resistance cluster formed by a...
The previous review of the USD/THB currency exchange rate concentrated on the newly formed less steep bullish pattern. On Tuesday, the pattern was still in force, as the currency exchange rate was declining in the borders of it.
However, something else attracted the attention of Dukascopy Analytics. Namely, a long term, large scale channel up pattern was spotted...
USDTHB should enter a consolidation phase on 4H (as seen on the Rectangle with high volatility, ATR = 0.0861) in order to bring down the overbought values on the most recent bullish run on the 1D Channel Up (RSI = 72.893, Williams = -12.000). The suggested course of action is to buy on every dip within the Rectangle, TP = 33.600.
This pair broke above the long term resistance (yellow) last month.
EM currencies suffer a lot these days amid strong dollar and rising yields.
USDTHB could finish triangular consolidation soon.
The target for the further rise of USDTHB is set within the orange box at the 0.382-0.618 Fibonacci.
Wait if price could break above the triangle's upside.
