EURTHB Eyes German Trade DataEuro/Thai BahtSAXO:EURTHBYES_GroupEURTHB - Yesterday Recap 7/9/26 Yesterday, EURTHB closed at 38.18 in the Thai market, while Eurozone economic data came out relatively mixed. Sentix Investor Confidence: 5.1, above the forecast of 2.1 and the previous reading of 0.9 GDP QoQ: 0.6%, above the forecast of 0.4%, compared with -0.2% previously GDP YoY: 0.5%, below the forecast of 1.0%, but higher than the previous reading of 0.3% Overall, the data suggest that the Eurozone economy continues to show signs of recovery, although uncertainty surrounding the growth outlook remains. - Fundamental 8/9/26 Key Economic Data ForecastPrevious EURTHB: 13:00 German Trade Balance16.5B15.4B The market will focus on the German Trade Balance, which is expected to show a wider surplus of 16.5B, up from 15.4B previously. A stronger-than-expected reading could be positive for the EUR, as it would support the outlook for Germany's trade sector and the broader Eurozone economy. However, the impact of this data is expected to be limited, as the market is placing greater emphasis on the ECB's monetary policy outlook. Markets currently expect the ECB to raise interest rates at its September 10 meeting, which remains a supportive factor for the EUR. Overall, EURTHB is expected to trade within a Sideways to Sideways Down range. In the short term, attention will focus on the German Trade Balance and EUR momentum, while the ECB meeting and U.S. inflation data will be key factors for the next major directional move. - Technical Analysis EURTHB 1H Bias: Sideways Down The price remains within a downtrend and has broken below the 38.18 support level. If the price rebounds but fails to break above 38.18, EURTHB could decline further toward 38.14, followed by 38.11. The outlook would turn more positive if the price can clearly hold above 38.21. Resistance: 38.18 – 38.21 Support: 38.14 – 38.11 Target: 38.14 → 38.11 Cut Loss: 38.21