Thai Baht (THB) ⇨ US Dollar ($)(THBUSD) Updated Analysis

Thai Baht (THB) ⇨ US Dollar ($)(THBUSD) Updated Analysis

Technical Analysis

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 34.31.

The projected lower bound is: 33.87.

The projected closing price is: 34.09.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 24 white candles and 23 black candles for a net of 1 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 76.5621. This is not an overbought or oversold reading. The last signal was a buy 22 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 54.94. 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 69 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 211.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 15 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 20 period(s) ago.

Rex Takasugi – TD Profile

FOREX THB= closed up 0.050 at 34.100. Volume was 9% below average (neutral) and Bollinger Bands were 69% narrower than normal.

Open     High     Low        Close    Volume
34.060  34.120  34.020  34.100  10,238

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

Moving Averages: 10-period   50-period   200-period
Close:                       33.99           34.20          34.91
Volatility:                2                   4                  5
Volume:                   10,411         10,723        10,600

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 2.3% below its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. 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 3 periods.

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Ivy Heffernan

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

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