EUR/SEK Down 439 Pips in Last 4 Hours, Came Into Today Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

EUR/SEK 4 Hour Price Update

Updated March 31, 2020 01:05 PM GMT (09:05 AM EST)

A moment of silence, please, for the end of EUR/SEK’s 3 four-hour candle up streak; price ended the previous 4 hours down 439 pips (-0.4%) to finish the four-hour candle at a rate of 11.052. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 31st in terms of percentage change since the previous 4 hours.

EUR/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/SEK is up 84 pips (0.08%) since the day prior (opening today near 11.0691), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 18th in terms of percentage change since the day prior. Below is a price chart of EUR/SEK.

EUR/SEK Technical Analysis

Coming into today the current price of EUR/SEK is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 20 day average, which is 1263.8 pips away. Volatility for EUR/SEK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 16 out of the past 30 days.