And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Or to simplify this another way, note that out of the past 14 days usd/sek’s price has gone up 9 them.
Relative to other instruments in the forex asset class, eur/sek ranked 9th yesterday in terms of percentage price change.
This imputes a buy/sell ratio of 1.2, which is neutral.
Or to simplify this another way, note that out of the past 14 days gbp/nzd’s price has gone up 7 them.
Compared to its peers in the forex, eur/cad gave its buyers a return that ranked 29th in terms of percentage change since the previous day.
Relative to other instruments in the forex asset class, eur/nok ranked 39th yesterday in terms of percentage price change.
It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign.
We also have a very low rsi and there is also a divergence happening once we look at the hourly chart….