EUR/SEK Down 22 Pips in Last Hour, Entered Today Up For the 2nd Consecutive Day; is Inching Close to 20 and 100 Day Averages

Hourly Update

(Last Updated June 7, 2022 1:42 GMT)

At the time of this writing, EURSEK’s rate is down -22 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 is up 77 pips (0.07%) since yesterday (opening today near 10.47019), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 25th in terms of percentage change since yesterday. Below is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Notably, 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 100 day average, which is 33.8 pips away. For additional context, note that price has gone up 5 out of the past 10 days.