EUR/SEK Up 588 Pips in Last 4 Hours, Moves Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/SEK 4 Hour Price Update

Updated May 15, 2020 01:09 PM GMT (09:09 AM EST)

EUR/SEK is up 588 pips (0.55%) since the previous 4 hours (opening the current 4 hour candle near 10.6623), marking the 3rd candle in a row an increase has occurred. Relative to other instruments in the Forex asset class, EUR/SEK ranked 8th the previous 4 hours in terms of percentage price change.

EUR/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/SEK is down 86 pips (0.08%) since yesterday (opening today near 10.58259), marking the 2nd day in a row it has gone down. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 37th in terms of percentage change since yesterday. Here is a price chart of EUR/SEK.

EUR/SEK Technical Analysis

Coming into today the current price of EUR/SEK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 926.7 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 down. For additional context, note that price has gone down 7 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!