EUR/SEK Down 268 Pips On 4 Hour Chart, Came Into Today Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/SEK 4 Hour Price Update

Updated March 24, 2020 03:22 AM GMT (11:22 PM EST)

EUR/SEK entered the current 4 hour candle at 11.0678, down 268 pips (0.24%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, EUR/SEK ranked 26th the last 4 hour candle in terms of percentage price change.

EUR/SEK Daily New York Session Recap

Updated 21:00 GMT (17:00 EST)

EUR/SEK is down 196 pips (0.18%) since yesterday’s New York session (opening today’s post-New York session near 11.08918), marking the 2nd day in a row a decrease has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 18.65% from the day prior, and up 159.34% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/SEK ranked 29th yesterday’s New York session in terms of percentage price change. Let’s take a look at price chart of EUR/SEK.

EUR/SEK Technical Analysis

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 3449.5 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 15 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.