(Last Updated April 2, 2021 23:19 GMT)
At the moment, EURSEK’s rate is down -13 pips (-0.01%) from the hour prior. This is the 2nd hour in a row EURSEK has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend 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 254 pips (0.25%) since the previous day (opening today near 10.265), marking the 4th straight day an increase has occurred. Relative to other instruments in the Forex asset class, EURSEK ranked 12th the previous day in terms of percentage price change. Below is a price chart of EURSEK.
EURSEK Technical Analysis
Notably, EURSEK crossed above its 200 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 200 day average, which is 117 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days EURSEK’s price has gone up 11 them.