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Home FX Thailand Baht: USD/THB (THB) New Rules Will Allow Thais to Freely Hold...
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Thailand Baht: USD/THB (THB) New Rules Will Allow Thais to Freely Hold and Transfer Foreign Currency Deposits and to Directly Invest More in Overseas Securities

By
S. Jack Heffernan Ph.D
-
November 23, 2020
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    $THB #Thailand #Baht #USD #Currencies #FX #Trading #Markets

    Thailand Baht
    Ticker: THB=
    Price: 30.28

    Receive up to $20,000 Referrer Bonus plus free trades with Knightsbridge Live – Sign Up Here

    Thai Baht Outlook

    Thailand’s central bank unveiled on Friday new measures related to the baht THB=TH in a bid to help balance capital flows after a rapid appreciation in the currency, an assistant governor said.

    The new rules will allow Thais to freely hold and transfer foreign currency deposits and to directly invest more in overseas securities, Vachira Arromdee told a briefing.

    The baht traded at 30.31 per U.S. dollar at 0331 GMT after hitting a more than 10-month high of 30.13 on Monday.

    On Thursday, the governor said the baht had risen too fast and undermined the country’s fragile economic recovery.

    USD/THB Dollar Exchange Rate

    Today’s Forex Rates

    USD/THB Dollar FX Polls

    Economic Events

    Technical Indicators

    Overall, the bias in prices is: Downwards.

    By the way, prices are vulnerable to a correction towards 30.77.

    The projected upper bound is: 30.56.

    The projected lower bound is: 29.94.

    The projected closing price is: 30.25.

    Candlesticks

    A black body occurred (because prices closed lower than they opened).
    During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 19 white candles and 31 black candles for a net of 12 black candles.

    A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

    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 57.4469. This is not an overbought or oversold reading. The last signal was a buy 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 30.34. 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 2 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 -48. This is not a topping or bottoming area. The last signal was a buy 5 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 0 period(s) ago.

    Rex Takasugi – TD Profile

    FOREX THB= closed down -0.020 at 30.270. Volume was 63% below average (consolidating) and Bollinger Bands were 101% wider than normal.

    Open     High     Low     Close      Volume
    30.290   30.300   30.230  30.270     786
    Technical Outlook
    Short Term:        Neutral
    Intermediate Term: Bearish
    Long Term:         Bearish
    Moving Averages: 10-period     50-period     200-period
    Close:           30.26         31.03         31.55
    Volatility:      6             6             6
    Volume:          2,330         2,256         2,368

    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 4.0% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.

    Our volume indicators reflect moderate flows of volume out of THB= (mildly bearish). Our trend forecasting oscillators are currently bearish on THB= and have had this outlook for the last 33 periods.

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      Previous articleFresh Tensions Between Beijing and Washington Sapped Appetite for the China Yuan USD/CNY (CNY=X)
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      S. Jack Heffernan Ph.D
      https://www.knightsbridge.law
      S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.

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