EURSEK Up 31 Pips On Hourly Chart, Came Into Today Up For the 5th Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated July 19, 2021 3:26 GMT)

At the moment, EURSEK’s rate is up 31 pips (0.03%) from the hour prior. The hourly chart shows that EURSEK has seen 2 straight up hours. 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURSEK is up 168 pips (0.16%) since the day prior (opening today near 10.25024), marking the 5th consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, EURSEK ranked 13th the day prior in terms of percentage price change. The price chart of EURSEK below illustrates.

EURSEK

EURSEK Technical Analysis

The first thing we should note is that the current price of EURSEK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 850.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 19 out of the past 30 days.