Thai Baht (THB) Opportunity For Successful Change

Thai Baht (THB) Opportunity For Successful Change

The baht continues to rise further and it is adversely affecting exports. The Middle East is the biggest export market for Thai canned tuna, accounting for around 40%. It is followed by the US at 20%, Australia 10%, while the EU, Japan and Canada’s combined share stands at around 30%. Thai exports for canned tuna are expected to miss their target of 80 billion baht as the stronger baht bites into the country’s competitive edge.

U.S. President Donald Trump’s policies are turning geopolitics “upside down,” but Asian businesses are well-positioned to take advantage of the shifting world order, according to Thai Deputy Prime Minister Somkid Jatusripitak. Asia is becoming a “center of the world economy.” He touched on how countries in the region have “become strong again,” 20 years after currencies crashed in the Asian financial crisis, starting with the Thai baht. Higher foreign exchange reserves and “impressive economic growth” have made these countries “an enticing spot for attracting foreign investment.”

Thailand must adjust its manufacturing structure from relying on cost for competition to relying on innovation and creativity

Technical Analysis

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 33.97.

The projected lower bound is: 33.52.

The projected closing price is: 33.74.

Candlesticks

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 21 white candles and 26 black candles for a net of 5 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 11.4580. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 3 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 32.00. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 74 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -216.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

Rex Takasugi – TD Profile

FOREX THB= closed down -0.160 at 33.760. Volume was 5% below average (neutral) and Bollinger Bands were 52% narrower than normal.

Open     High      Low       Close     Volume
33.930   33.950  33.720  33.760  10,532

Technical Outlook
Short Term:               Oversold
Intermediate Term: Bullish
Long Term:                Bearish

Moving Averages: 10-period  50-period  200-period
Close:                       33.99          34.14          34.88
Volatility:                 4                  4                 5
Volume:                   10,227         10,762      10,708

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX THB= is currently 3.2% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of THB= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on THB= and have had this outlook for the last 8 periods.

“Investing in Thailand? Contact Us.”

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Ivy Heffernan

From Modeling To Economics; My name is Ivy Heffernan, and I am interested in a wide range of professions. Economics and politics at the age of 16 is easy when your father has a Ph.D in economics, i have been taught to put together technical analyst and stay up to date with the changing markets as well as what is happening in the political world. Modeling: Since a young age i have been fond of modeling, losing over 40.. kgs to achieve my goal at becoming a super model. I have found it to be a more beneficial experience than just looking pretty. It has opened up many doors to my future and has made me quite outgoing, bringing me to my next topic Journalism: I love Traveling and meeting new people, of course my mind always gets wrapped around business, so i decided to turn it into one. I go to events, restaurants, model parties, clubs ect.. to interview people on their businesses and then write an article all about it and the experience. Summary: I think being a well rounded individual on all topics is the most important thing to everyone, with the changing economies it's good to know that no matter what life throws at you, and no matter what job you are given, you'll always be capable.

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