EURSEK Down 5 Pips Over Past Hour, 2 Day Down Streak Ended; Eyes 20, 100 and 200 Day Averages

Hourly Update

(Last Updated September 30, 2021 2:18 GMT)

Currently, EURSEK’s rate is down -5 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. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURSEK. Given that we see an uptrend on the 20 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)

EURSEK entered today at 10.14398, up 136 pips (0.13%) from yesterday. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 11th in terms of percentage change since yesterday. Here is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

The first thing we should note is that EURSEK is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 20.6 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days EURSEK’s price has gone up 16 them. Also, candlestick traders! Note we see doji pattern appearing here as well.