Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Baht’s Parabolic Signals Rise to 2008 High: Technical Analysis

The Thai baht may strengthen 0.8 percent against the dollar in a month, taking it to a two-year high, after a technical indicator known as the Parabolic System pointed to a buy signal for the currency, according to Mitsubishi UFJ Morgan Stanley Securities Co.

The baht may appreciate to a “psychologically important level” of 32 per dollar should it strengthen beyond the May 7 and April 21 highs of 32.15 and 32.07, respectively, said Minoru Shioiri, chief manager of foreign-exchange trading at Mitsubishi UFJ. The currency traded at 32.24 as of 8:50 a.m. in Bangkok, according to data compiled by Bloomberg. It reached 32.22, the strongest since May 10.

The Parabolic System is represented by a series of dots on a chart, or a stop-and-reversal-point. If the price of an asset is below the SAR, in this case the dollar, then you should sell it. The greenback’s five-day moving average also dropped below the 20-day line on July 13 to form a pattern called a “golden cross,” another bullish signal for the baht, said Shioiri.

“Many technical indicators this week began to show signs of baht strength,” said Tokyo-based Shioiri. “The pace of the appreciation may be gradual due to potential intervention by the central bank to stem the currency’s gains.”

In technical analysis, investors and analysts study charts of trading patterns and prices to forecast changes in a security, commodity, currency or index.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.