• FxWirePro: Thai Baht falls as trade balance data misses expectations

    Source: FxWire Pro - Technicals / 21 Feb 2019 23:26:24   America/New_York

    • USD/THB is currently trading around 31.29 marks.
       
    • It made intraday high at 31.34 and low at 31.20 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 31.06 mark.
       
    • On the top side, key resistances are seen at 31.30, 31.44, 31.62, 31.70, 31.93, 32.02 and 32.10 marks respectively.
       
    • Alternatively, a daily close below 31.22 will drag the parity down towards key supports around 31.10, 30.94, 30.20 and 29.66 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
       
    • Thailand Jan 2019 customs-based trade data decrease to -4.03 usd (forecast 0.32 usd) vs previous 1.06 usd.
       
    • Thailand Jan 2019 custom-based import data increase to 13.99 % (forecast -1 %) vs previous -8.15 %.
       
    • Thailand Jan 2019 custom-based export data decrease to -5.65 % (forecast -1 %) vs previous -1.72 %.

    We prefer to take long position on USD/THB around 31.25, stop loss at 31.10 and target of 31.44/31.62 mark.

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