EUR/SEK 4 Hour Price Update
Updated May 25, 2020 05:08 PM GMT (01:08 PM EST)
A moment of silence, please, for the end of EUR/SEK’s 4 four-hour candle up streak; price ended the previous 4 hours down 59 pips (-0.06%) to finish the four-hour candle at a rate of 10.5417. Out of the 37 instruments in the Forex asset class, EUR/SEK ended up ranking 26th for the four-hour candle in terms of price change.
EUR/SEK End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of EUR/SEK continues; to start today, it came in at a price of 10.52009, down 129 pips (0.12%) since yesterday. Out of the 40 instruments in the Forex asset class, EUR/SEK ended up ranking 38th for the day in terms of price change. The price chart of EUR/SEK below illustrates.
EUR/SEK Technical Analysis
Notably, the current price of EUR/SEK 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. 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 1008.7 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. 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. For additional context, note that price has gone up 5 out of the past 10 days.