EUR/SEK Down 304 Pips; Nears 20 and 50 Day Moving Averages

EUR/SEK Price Recap

EUR/SEK is down 304 pips (0.29%) since yesterday (with its current price near 10.5356), marking the 2nd day in a row a decrease has occurred. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 25.17% from the day before — and down 4.75% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/SEK ended up ranking 32nd for the day in terms of day-over-day price change. Let’s take a look at price chart of EUR/SEK.

EUR/SEK Technical Analysis

The first thing we should note is that EUR/SEK 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 50 day average, which is 122.4 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Volatility for EUR/SEK has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. For additional context, note that price has gone down 6 out of the past 10 days.

The View From Around the Web

Not much commentary on EURSEK that we’re finding noteworthy here; are y’all just scared to put out an opinion? 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Good Evening Friends, here my Analysis to EURSEK. Trendchannel is broken. (all information in the Chart)*Just my opinion no financial advice.*