EUR/SEK 3 Day Down Streak Ended; Crosses 50 Day Moving Average

EUR/SEK Price Recap

EUR/SEK is down 198 pips (0.19%) since yesterday (with its current price near 10.5158), marking the 3rd day in a row it has gone down. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 22.29% from the day before — and down 42.42% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/SEK ranked 31st yesterday in terms of percentage price change. Here is a price chart of EUR/SEK.

EUR/SEK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EUR/SEK crossed below its 50 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 69.9 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Or to simplify this another way, note that out of the past 14 days EUR/SEK’s price has gone down 8 them.