EURSEK Up 35 Pips Over Past Hour, Breaks Below 20 Day Average; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated February 11, 2021 1:23 GMT)

At the moment, EURSEK’s rate is up 35 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. 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)

EURSEK entered today at 10.08903, down 225 pips (0.22%) from yesterday. Relative to other instruments in the Forex asset class, EURSEK ranked 28th yesterday in terms of percentage price change. Let’s take a look at price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURSEK crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. For additional context, note that price has gone up 6 out of the past 10 days.