EURSEK Down 9 Pips On Hourly Chart, Breaks Below 20 Day Average; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated April 14, 2021 3:19 GMT)

At the moment, EURSEK’s rate is down -9 pips (-0.01%) from the hour prior. The hourly chart shows that EURSEK has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURSEK. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward 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 10.1695, down 430 pips 0.42% from yesterday. Relative to other instruments in the Forex asset class, EURSEK ranked 38th yesterday in terms of percentage price change. Below is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Notably, EURSEK crossed below its 20 day moving average yesterday. 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 50 day average, which is 286 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EURSEK’s price has gone up 20 them.