(Last Updated January 4, 2021 2:19 GMT)
At the moment, EURSEK’s rate is up 56 pips (0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
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 10.04042, down 304 pips (0.3%) since the day prior. Out of the 40 instruments in the Forex asset class, EURSEK ended up ranking 31st for the day in terms of price change. The price chart of EURSEK below illustrates.
EURSEK Technical Analysis
The first thing we should note is that EURSEK is now close to its 20 and 50 day averages, located at 10.1543 and 10.2106 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EURSEK’s price has gone down 10 them.