EURSEK Down 3 Pips in Last Hour, in a Downtrend Over Past 14 Days; is Inching Close to 20 and 50 Day Averages

Hourly Update

(Last Updated February 24, 2021 0:21 GMT)

At the time of this writing, EURSEK’s rate is down 3 pips (0%) from the hour prior. EURSEK has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 10.05879, up 425 pips (0.42%) since the day prior. Out of the 39 instruments in the Forex asset class, EURSEK ended up ranking 10th for the day in terms of price change. The price chart of EURSEK below illustrates.

EURSEK

EURSEK Technical Analysis

Coming into today the current price of EURSEK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 30 days EURSEK’s price has gone down 16 them.