Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Sell | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Neutral | Neutral | Neutral |
Alligator (13; 8; 5) | Sell | Sell | Buy |
SAR (0.02; 0.2) | Sell | Sell | Buy |
Aggregate | ⇒ | ⇒ | ⇗ |
The US Dollar has been depreciating against the Thai Baht since the end of October when the USD/THB currency pair reversed from the upper boundary of the long-term descending channel. This movement has been bounded in the falling wedge pattern.
Given that the pair is being pressured by the 55-, 100– and 200-hour SMAs, it is expected that the general direction is expected to remain south within the following sessions. It is likely that the rate targets the support level—the Fibonacci 38.20% at 32.59.
If given support holds, it is likely that a breakout north from the pattern occurs in the nearest future.