• FxWirePro: USD/THB hits fresh 4-week high at 32.84 mark, bias remains bullish

    Source: FxWire Pro - Technicals / 18 Dec 2017 21:25:07   Eastern Standard Time

    • USD/THB is currently trading around 32.81 marks.
       
    • It made intraday high at 32.84 and low at 32.64 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 32.50 mark.
       
    • A daily close below 32.64 will drag the parity down towards key supports around 32.50, 32.44, 32.34 and 32.24 marks respectively.
       
    • On the top side, key resistances are seen at 32.86, 32.92, 33.03, 33.10, 33.22, 33.38, 33.46, 33.52, 33.77 and 33.94 marks respectively.
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

    We prefer to take long position in USD/THB around 32.78, stop loss at 32.62 and target of 32.92/33.10.

    FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest