EUR/SEK Down 79 Pips in Last Hour; Breaks Above 50 Day Average

Hourly Update

(Last Updated November 10, 2022 1:49 GMT)

At the time of this writing, EURSEK’s rate is down -79 pips (-0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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)

The back and forth price flow continues for EURSEK, which started today off at 10.8995, up 644 pips 0.59% from the previous day. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 8th in terms of percentage change since the previous day. Let’s take a look at price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Notably, EURSEK crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 14 days EURSEK’s price has gone down 8 them.