EURSEK Down 15 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; Eyes 20, 100 and 200 Day Averages

Hourly Update

(Last Updated July 15, 2021 1:18 GMT)

Currently, EURSEK’s rate is down -15 pips (-0.02%) 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)

EURSEK is up 77 pips (0.08%) since yesterday (opening today near 10.18999), marking the 2nd consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, EURSEK ended up ranking 11th for the day in terms of price change. Here is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Coming into today EURSEK is now close to its 20, 50, 100 and 200 day averages, located at 10.1564, 10.1308, 10.1456 and 10.1689 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 210.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.