EURSEK Up 10 Pips On Hourly Chart, 2 Day Up Streak Broken; Breaks Below 50 and 100 Day Averages

Hourly Update

(Last Updated April 22, 2021 2:19 GMT)

At the moment, EURSEK’s rate is up 10 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURSEK has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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)

The choppiness in the recent daily price action of EURSEK continues; to start today, it came in at a price of 10.11629, down 362 pips (0.36%) since the previous day. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 28th in terms of percentage change since the previous day. The price chart of EURSEK below illustrates.

EURSEK

EURSEK Technical Analysis

Notably, EURSEK crossed below its 50 and 100 day moving averages yesterday. 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 100 day average, which is 199.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. 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 down 8 out of the past 14 days.

The View From Around the Web

Not much commentary on EURSEK that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

A look at some of the non-major EUR-crosses.