EUR/SEK Up 175 Pips in Last 4 Hours, is Inching Close to 50 Day Average; Pin Bar Pattern Appearing on Chart

EUR/SEK 4 Hour Price Update

Updated August 25, 2020 05:07 PM GMT (01:07 PM EST)

After 3 down four-hour candles, EUR/SEK snaps its streak, rising 175 pips (0.17%) over the past four-hour candle to close at an exchange rate of 10.3681. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 6th in terms of percentage change since the previous 4 hours.

EUR/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/SEK entered today at 10.35908, down 31 pips (0.03%) from the previous day. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 27th in terms of percentage change since the previous day. Here is a price chart of EUR/SEK.

EUR/SEK

EUR/SEK Technical Analysis

Notably, 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. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 8 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram