EUR/SEK Down 58 Pips On 4 Hour Chart, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

EUR/SEK 4 Hour Price Update

Updated May 19, 2020 05:14 PM GMT (01:14 PM EST)

EUR/SEK is down 58 pips (0.05%) since the last 4 hour candle (opening the current 4 hour candle near 10.5671), marking the 3rd candle in a row it has gone down. Relative to other instruments in the Forex asset class, EUR/SEK ranked 26th the last 4 hour candle in terms of percentage price change.

EUR/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/SEK entered today at 10.5874, up 31 pips (0.03%) from the previous day. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 24th in terms of percentage change since the previous day. Below is a price chart of EUR/SEK.

EUR/SEK Technical Analysis

Notably, EUR/SEK is now close to its 20, 50, 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 752.3 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.