EUR/SEK Up 35 Pips in Last 4 Hours, 3 Day Down Streak Broken; Pin Bar Pattern Appearing on Chart

EUR/SEK 4 Hour Price Update

Updated May 21, 2020 12:47 AM GMT (08:47 PM EST)

After 4 down four-hour candles, EUR/SEK snaps its streak, rising 35 pips (0.03%) over the past four-hour candle to close at an exchange rate of 10.5223. Out of the 37 instruments in the Forex asset class, EUR/SEK ended up ranking 14th for the four-hour candle in terms of price change.

EUR/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 down days, EUR/SEK snaps its streak, rising 31 pips (0.03%) over the past day to close at an exchange rate of 10.52149. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 24th in terms of percentage change since yesterday. Here is a price chart of EUR/SEK.

EUR/SEK Technical Analysis

Notably, EUR/SEK is now close to its 20, 100 and 200 day averages, located at 10.6371, 10.7322 and 10.6719 respectively, and thus may be at a key juncture along those timeframes. 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. Or to simplify this another way, note that out of the past 30 days EUR/SEK’s price has gone down 17 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!