EUR/SEK Up 26 Pips in Last Hour; Came Into Today Up For the 4th Day In A Row

Hourly Update

(Last Updated July 4, 2022 1:40 GMT)

At the moment, EURSEK’s rate is up 26 pips (0.02%) from the hour prior. This is the 3rd straight hour EURSEK has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 282 pips (0.26%) since yesterday (opening today near 10.7456), marking the 4th day in a row it has gone up. Relative to other instruments in the Forex asset class, EURSEK ranked 10th yesterday in terms of percentage price change. The price chart of EURSEK below illustrates.

EURSEK

EURSEK Technical Analysis

Notably, the current price of EURSEK is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for EURSEK 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 up. Or to simplify this another way, note that out of the past 30 days EURSEK’s price has gone up 20 them.

The View From Around the Web

Not much commentary on EURSEK that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

EURSEK Entry Price 10.74410; EURSEK Target Price 10.90496https://www.tradingview.com/x/CJ3pZLl3/ https://www.tradingview.com/x/m7n7A9md/