The strength of Thai Baht (THB) Limited Impact on Exports

The strength of Thai Baht (THB) Limited Impact on Exports

The strength of the Thai baht is having a limited impact on exports.

The baht’s appreciation this year of up to 5.0 per cent was in line with regional peers. The baht’s value has had a limited impact on exports and not as much purchasing power in partner countries.

Technical Analysis

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 13,343.81.

The projected upper bound is: 13,439.40.

The projected lower bound is: 13,343.80.

The projected closing price is: 13,391.60.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 1 black candles for a net of 5 white candles. During the past 50 bars, there have been 25 white candles and 15 black candles for a net of 10 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 83.2000. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 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 70.25. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 5 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 100.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 9 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 buy 14 period(s) ago.

Rex Takasugi – TD Profile

FOREX IDR= closed down -6.000 at 13,390.000. Volume was 20% below average (neutral) and Bollinger Bands were 85% wider than normal.

Open             High              Low               Close              Volume
13,385.000  13,400.000  13,380.000  13,390.000   84

Technical Outlook
Short Term:               Overbought
Intermediate Term: Bullish
Long Term:                Bullish

Moving Averages: 10-period   50-period   200-period
Close:                       13,364.00  13,321.86    13,306.92
Volatility:                2                   2                   4
Volume:                   74                96                 105

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 IDR= is currently 0.6% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into IDR= (mildly bullish). Our trend forecasting oscillators are currently bullish on IDR= and have had this outlook for the last 11 periods. Our momentum oscillator is currently indicating that IDR= is currently in an overbought condition.

“Investing in Thailand? Contact Us.”

The following two tabs change content below.

Ivy Heffernan

Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.

You must be logged in to post comments :  
CONNECT WITH