EURSEK Down 34 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated January 14, 2021 2:20 GMT)

Currently, EURSEK’s rate is down -34 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EURSEK, which started today off at 10.1393, up 760 pips 0.76% from yesterday. Relative to other instruments in the Forex asset class, EURSEK ranked 2nd yesterday in terms of percentage price change. Here is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURSEK crossed above its 20 day moving average yesterday. Volatility for EURSEK 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 down over that time. Or to simplify this another way, note that out of the past 30 days EURSEK’s price has gone down 17 them.