THAI BAHT vs US DOLLAR will Go Up or Down⁉️
🔹#USDTHB is showing the formation of an 22-month mature Ascending Broadening Wedge pattern, also named "megaphone", where the price is likely to bounce off resistance from the previous-high at 34 Thb turned support, or even lower at the 61.8% Fibonacci retracement around 33 Thb. To be valid, this Bearish Reversal pattern must have its two ascending lines (yellow color) touched at least 3 times, so we can expect the price to continue a Slow Rising until 38Thb, before a Bearish Breakout occurs.
🔹#USDTHB is showing the formation of an 22-month mature Ascending Broadening Wedge pattern, also named "megaphone", where the price is likely to bounce off resistance from the previous-high at 34 Thb turned support, or even lower at the 61.8% Fibonacci retracement around 33 Thb. To be valid, this Bearish Reversal pattern must have its two ascending lines (yellow color) touched at least 3 times, so we can expect the price to continue a Slow Rising until 38Thb, before a Bearish Breakout occurs.