USD/THB 1H Chart: Reveal of dominant pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Sell
Stochastic (5; 3) Neutral Neutral Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The previous review of the USD/THB currency exchange rate concentrated on the newly formed less steep bullish pattern. On Tuesday, the pattern was still in force, as the currency exchange rate was declining in the borders of it. 

However, something else attracted the attention of Dukascopy Analytics. Namely, a long term, large scale channel up pattern was spotted on the larger time frame charts. It might be possible that in the near future the bounce off from this trend line forces the rate lower and gives it enough strength to break the medium scale ascending pattern. 

However, in the short term watch the support of the 55-hour simple moving average, which clearly provided support on Tuesday.

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