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Monday, 23 June 2014

Thai Baht: 23 June 2014, Monday, 3.03am Singapore Time

Chart 1:
Thai Baht (THBUSD): 23 June 2014, Monday, 3.03am Singapore Time
Chart courtesy of Yahoo Southeast Asia

Technical Analysis of THBUSD is as per illustrated in Weekly Chart above.

Thai Baht has completed the execution of an extremely bearish fake break-up.
It has also broken down a long term uptrend.
Refer to the 2 RED circles in chart.
Thailand's stocks and equities markets, much like worldwide markets, are transiting to bear markets as per previously analysed.

Chart 2:
Thai Baht (USDTHB): 23 June 2014, Monday, 3.03am Singapore Time

Note that the above Chart 2 is the USDTHB chart where a downmove means appreciation in Thai Baht and an upmove is a depreciation in the Thai Baht. This is because USD is now listed on the left hand side of the USDTHB forex pair and the Baht is on the right hand side of the forex pair. The above secular trend shows the fake break-up in super cycle perspective.

Chart 3:
Thai Baht: 23 June 2014, Monday, 3.03am Singapore Time

In Chart 3, Thai Baht, much like fellow South East Asian emerging economies have broken down long term trends. USD on the other hand broke up these long term trends.

Chart 4:
Thai Baht: 23 June 2014, Monday, 3.03am Singapore Time

In Chart 4, a very abnormal behaviour can be seen. 
Something potentially nasty is brewing in the financial markets of the emerging economies. 
Be cautious of the financial markets, and take safety precautions.

Donovan Norfolk Technical Rating of Thai Baht and Stocks and Equities Markets:
Bear Market Transition
(Sell on Rebounds)

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  1. hi donovan. what do you thınk about turkısh lıra (tryusd) and turkısh stock exchange (bist 100) ?

  2. Done for especially for you, Kamil: