(Last Updated July 5, 2022 1:39 GMT)
At the moment, EURSEK’s rate is down 5 pips (0%) from the hour prior. EURSEK has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURSEK. Given that we see downtrend on the 10 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 choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
EURSEK End of Day Recap
Updated 00:30 GMT (04:30 EST)
EURSEK is up 214 pips (0.2%) since the previous day (opening today near 10.767), marking the 5th day in a row it has gone up. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 17th in terms of percentage change since the previous day. Let’s take a look at price chart of EURSEK.
EURSEK Technical Analysis
Notably, EURSEK is now close to its 20, 50 and 100 day averages, located at 10.6448, 10.5466 and 10.511 respectively, and thus may be at a key juncture along those timeframes. Volatility for EURSEK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 10 out of the past 14 days.