EUR/SEK Up 167 Pips Over Past Hour, Entered Today Up For the 7th Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated September 22, 2022 1:39 GMT)

At the time of this writing, EURSEK’s rate is up 167 pips (0.15%) from the hour prior. EURSEK has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)

EURSEK is up 140 pips (0.13%) since yesterday (opening today near 10.8759), marking the 7th consecutive day an upward move has occurred. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 11th in terms of percentage change since yesterday. Here is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Coming into today EURSEK is now close to its 20 day averages, located at 10.7045 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 1714.2 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 9 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURSEK; just 0 sell signals and 1 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price close above trend line. Watch for long opportunities. https://www.tradingview.com/x/kTTqf1Uo/