The Thai baht over the past week started out the week sideways, but like the Singapore dollar ended the week up. This pair is a bit more impacted recently from political risk surrounding its election and because of this we may see more volatility not related to technical or fundamental components. Nonetheless, its important to keep in mind the overall trend remains downward sloping and a continued weakening of the US dollar. Moreover, price action remained in theshort-term trend line resistance range at the week's end reinforcing the notion that linear downward resistance is difficult to break. Additionally, the technical picture for USDTHB over the next week looks like it could revert back to the mean where RSI points towards overbought and the bull bear indicator suggests USDTHB long is overcrowded. Meanwhile, exponential moving averages also suggest continuation of our downward trend. In sum, USDTHB is still short.
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For more of my analysis, please check out www.anthonylaurence.wordpress.com