Indicator | 4H | 1D | 1W |
---|---|---|---|
MACD(12;26;9) | Buy | Sell | Sell |
RSI(14) | Neutral | Neutral | Buy |
Stochastic(5;3;3) | Neutral | Sell | Neutral |
Alligator(13;8;5) | Buy | Neutral | Sell |
SAR(0.02;0.2) | Sell | Buy | Sell |
Aggregate | ⇒ | ⇒ | ⇘ |
The USD/THB exchange rate has been appreciating since the beginning of September, after it reversed north from the lower boundary of the long-term descending channel.
From the one hand, the currency pair could continue to trade upwards, as it should target the upper channel line. In this case the pair has to surpass strong resistance level formed by the monthly R1 located at the 30.87 mark.
From the other hand, note that the exchange rate is pressured by the 200-period SMA (4H time-frame chart), currently located at 30.64. Thus, some downside potential could prevail in the market, and the rate could continue to go down along the lower channel line. Note, that the rate could face support of the monthly S2 at 30.31.