EURSEK Down 9 Pips Over Past Hour, Entered Today Up For the 2nd Day In A Row; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated September 8, 2021 12:18 GMT)

At the moment, EURSEK’s rate is down -9 pips (-0.01%) from the hour prior. The hourly chart shows that EURSEK has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on EURSEK. Given that we see an uptrend on the 20 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 20, 50, 100 and 200 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 119 pips (0.12%) since yesterday (opening today near 10.1724), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 21st in terms of percentage change since yesterday. Here is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Notably, EURSEK crossed above its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 15 out of the past 30 days.