EUR/SEK 4 Hour Price Update
Updated May 21, 2020 05:09 PM GMT (01:09 PM EST)
EUR/SEK is up 117 pips (0.11%) since the last 4 hour candle (opening the current 4 hour candle near 10.5503), marking the 5th candle in a row an upward move has occurred. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 12th in terms of percentage change since the last 4 hour candle.
EUR/SEK End of Day Recap
Updated 00:30 GMT (04:30 EST)
A moment of silence, please, for the end of EUR/SEK’s 3 day down streak; price ended yesterday up 31 pips (0.03%) to finish the day at a rate of 10.52149. Relative to other instruments in the Forex asset class, EUR/SEK ranked 24th yesterday in terms of percentage price change. Below is a price chart of EUR/SEK.
EUR/SEK Technical Analysis
Notably, EUR/SEK is now close to its 20, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 1155.7 pips away. Volatility for EUR/SEK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.