in ANALISA by hafid zaini

7640843 7/12/2017 5:14 PM, USD/THB intraday: the RSI is overbought


33.969 is our pivot point.


Our preference

: rebound.


Alternative scenario

: the downside breakout of 33.969 would call for 33.904 and 33.866.


Comment

: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the pair is trading above its 20 MA (34.007) but under its 50 MA (34.061).


Supports and resistances

:

34.243 **

34.204 *

34.165 **

34.127

34.032 last

33.995

33.969 **

33.904 *

33.866 **