36 baht per USD target. Long prediction.

2019-12-26 16:17:49

This is a descending wedge which are bullish. In the long run, monthly I see a target of 36 in the years to come. World trade and spending are slowing in the macro economic picture and EMs will not hold up! If you have baht, time to sell and reverse positions as 29 or 30 baht per dollar will NO WAY hold much longer. This kind of rate is totally ridiculous in the grand scheme of world economics. These FX currency flows into Thailand (despite huge tourism numbers decreasing) is a suckers market. Its mostly Chinese construction companies laundering money to get money out of china to build more Bangkok condos which nobody is buying! (Huge numbers of unsold condos in Bangkok in 2018, apprx 650,000 unsold units, should be higher in 19" and 20's!). To think Thailands economy is strong is misleading, its a house of cards. I have been living in Thailand on and off since 2010 so know things from feet on the ground. 30/USD is just way overvalued.
Watch for the break out from the wedge and indicators that go along with it.