EURSEK Down 61 Pips On Hourly Chart, Entered Today Down For the 4th Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated February 19, 2021 0:21 GMT)

At the moment, EURSEK’s rate is down -61 pips (-0.06%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, so that price is now turning below it. 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 down 117 pips (0.12%) since the day prior (opening today near 10.02519), marking the 4th day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EURSEK ranked 21st the day prior in terms of percentage price change. Here is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Notably, EURSEK is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 days.