(Last Updated October 6, 2021 10:18 GMT)
Currently, EURSEK’s rate is up 84 pips (0.08%) from the hour prior. EURSEK has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURSEK. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
EURSEK End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of EURSEK continues; to start today, it came in at a price of 10.13589, down 32 pips (0.03%) since yesterday. Relative to other instruments in the Forex asset class, EURSEK ranked 26th yesterday in terms of percentage price change. Below is a price chart of EURSEK.
EURSEK Technical Analysis
Coming into today EURSEK is now close to its 20, 50, 100 and 200 day averages, located at 10.1646, 10.1877, 10.1681 and 10.1479 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 120.2 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 16 out of the past 30 days.