1H: It appears that we’ve hit a bottom at 332/THB and have seen a solid bounce. The uptrend is likely to continue after a brief correction.
The MACD is resetting lower and needs some time to reach a bottom. The RSI is very low, which indicates a potential short-term bounce. Conclusion: We should stabilize above 333/THB in the short term.
1D: The daily chart presents a more mixed outlook. While it seems we’ve bottomed at 332/THB, the MACD still needs to reset, suggesting the current bounce is temporary. Additionally, the RSI is overbought, which points to a likely correction until November, when a downtrend reversal could be confirmed with a lower low.
Invalidation: If THB/USD falls below 332/THB, it means the bottom is not yet in, and the bounce was a bull trap or fakeout.
Trade ativo
This idea has once again proven very accurate. Now, we’re seeing a bullish crossover in the MACD, a rising RSI, and an upward trend for USDT/TTHB, indicating a more favorable exchange rate for foreigners living in Thailand and a weakening Baht.
Good news for expats—we’re heading back toward 38 THB to $1!
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